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rohan r.
rohan r.
Balwyn, VIC
3 Likes
0 Followers

i run my own business. I like cars and they are my golf membership! I buy 2-3 year old models and follow trade prices. i sell well & typically get close to what i paid (if not more) 12-18 months. have high deposits, 4-5 years & 40% residual. Extinguish within 18 mths. Use chattel mortgage. seeking a 2007-9 car, what options might exist for a little older car?

5 years ago

Responses

Hi Rohan,

Generally cars being financed can be no older than 9 years at the end of term, ie you could lease a 2010 car over 2 years which means it would be 9 years old at the end of the lease. Some lenders will look at older cars too however the payments are loaded because of the age of the car.

Let me know if I can assist you further.

Michael Budge
E michael@baysidefinance.com.au
M 0418 547337

Hi Rohan,
I can point you in the right direction for financing cars up to 15 years old generally and much older if you (and the car) meet the criteria - (different for each person and vehicle).

look at mortgage now dot com dot au

Hi Rohan,
My friends often laugh at the fact that I turnover cars in a similar time frame. Like you, I prefer someone else to take the initial depreciation hit.
There are couple of lenders that finance older vehicles, including pepper money. If you are turning over vehicles often, Alphera finance have a nil early termination fee and have a pretty flexible pre-approval process for your next vehicle purchase, but I'm not 100% sure about their policy on older vehicles.
I'm sure you already know this, but I think the useful life of a vehicle is only 7 years according to the ATO, so you may not me able to claim depreciation on an older vehicle if it's being used as a company car.
I have access to both the abovementioned lenders, let me know if I can be of any help.
Have a great weekend,
Gerry

Hi Mate,

there are lenders that will do upto 20 years at the end of term but all the main lenders will be 12-13 years end of term.

on a chattel mortage, there genreally wont be exit charges with most lenders but a portion of the interest payable. happy to discuss further with you if you like. i have access to many lenders including, liberty, pepper, volkwagen finance, macquarie etc.

Tareq - 0410755009 or www.sbfin.com.au

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