Vehicle Finance is used to purchase new or used vehicles and can be in the form of loans, leases, hire purchase and rental agreements. Each type of finance is best suited to specific needs so it’s wise to talk to us about your requirements before buying a car.

Finding the right lender with the best finance structure to suit your individual situation takes knowledge and experience. Menzies has you covered to provide:

A wide range of lenders and finance structures, ensuring you find the best fit for you or your business.

Fast and professional service from experienced finance consultants.

Unbiased professional service

We compare your options for you and do all the hard work of presenting your application to the chosen lender.


How does Vehicle Finance Work?

Vehicle finance comes in many options including leases, hire purchase and loans.

Getting a vehicle loan or lease can be a short, streamlined way to finance up to 100% of the value of vehicles you need for you or your business. In some cases even shortfalls on previous vehicle loans can also be refinanced with a new vehicle.  

Vehicle Loan

A standard vehicle loan allows you to borrow up to 100% of a vehicle cost with fixed repayments over terms of up to 7 years.

The vehicle generally is the only security required for the loan.

Vehicle Lease

A finance lease is a form of a rental agreement because the lessor owns the asset. At the end of the lease you have the option of purchasing the asset (for a residual amount agreed up front), trading in for a new vehicle or simply terminating the lease.

There is a risk that at the end of the lease the asset will be worth less than the residual value. One of the advantages of a finance lease is that the finance company pays the GST component which makes your payments lower.

Hire Purchase

With a hire purchase, the finance company owns the vehicle during the life of the agreement. When you make the final payment including a balloon payment if relevant you take ownership of the vehicle.


Who qualifies for vehicle finance?

Most businesses and individuals will qualify for vehicle finance, including startups and people with bad credit.