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How to secure finance

Whether you're a small one person operation, or you're running a large-scale agribusiness, you depend on the vehicles and equipment you use every day.

In order to replace your existing vehicles and equipment, or to expand your fleet or plant base, you need someone who understands the needs of your business.

Greater Bank has partnered with Centrepoint Finance, meaning our customers benefit from over 30 years of experience in helping local businesses grow.

  1. Vehicle Finance

    Whatever type of vehicle you're looking to finance, make sure you speak with Greater Bank.

    From average cars right through to specialised vehicles, we're able to arrange a wide range of options.

    Find out more

  2. Equipment Finance

    Whether you're after standard or specialised equipment, we're able to arrange a wide range of Equipment Finance options.

    Speak to Greater Bank today to see how we can help you grow and expand your business.

     

    Find out more

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What to look for

When seeking the right vehicle or equipment finance for your business, be sure to look for the following from your lender:

  1. Flexibility

    Look for flexibilty on terms, especially if you have an idea how often you'll need to upgrade your vehicles or equipment. Also, look out for repayment flexibility to suit your cash flow, particularly if your income can be categorised as seasonal.

  2. Ease

    Your time is precious, so if applying is easy, so much the better. What's more, if you can find a lender that offers fixed repayments, you'll be able to more accurately predict cash flow for your business.

  3. Value

    Find a lender that understands the needs of your business, is able to offer competitive rates, and won't ask for additional security. This will mean you can avoid your property being tied up as security, and can use your working capital for strategic business activities.

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What are my options?

  1. Specific Security Arrangement (Chattel Mortgage): Used when you require ownership of the equipment during and at the end of the term. You choose the equipment you require, and make fixed payments over an agreed term. 
  2. Commercial Hire Purchase: Used when you require guaranteed ownership of the equipment at the end of the term. You choose the equipment you require, and make fixed payments over an agreed term. 
  3. Rental Finance: Used for financing high depreciating and/or obsolescence equipment (such as IT and office equipment). You choose the equipment you require, and make fixed payments over an agreed term.
  4. Finance Lease: Generally only used on advice from your accountant. You choose the equipment you require, and make fixed lease payments over a fixed term.