Commercial Hire Purchase

About our Commercial Hire Purchase

Obtain the business equipment and car you need through a hire purchase loan, where you pay hire charges over a fixed period.

Benefits and features

Under a commercial hire purchase agreement, BOQ Equipment Finance Limited will take ownership of the equipment being financed, and hire it to you through regular repayments.

Once all your hire purchase payments have been made, ownership of the asset will be automatically transferred to your business.

• Preserves working capital
• Generally no additional security required for hire purchase - apart from the asset itself
• Fixed rate financing allows you to budget for repayments
• Flexible repayment options to suit your cash flow
• GST is included in the amount financed
• Taxation claims may be applicable, seek independent taxation advice to see whether you are eligible

Hire payment options

We understand that options are important for businesses.

Payment options

• Equal Rentals is the standard form of calculation and provides for equal monthly rental instalments in advance or arrears
• Seasonal Rentals cover many varied structures which can be designed so that rental instalments are payable at any nominated interval during the term to suit a client's particular needs or, more importantly, its cash flow
• Balloon/Bulk Payments can be included at the end of your contract. You may then choose to re-hire the goods or pay this amount and take full possession and ownership of the goods
• Escrow Agreement where interest only payments can be made to BOQ Equipment Finance Limited while the equipment is being installed/commissioned within the first 3-6 months

Fees and Charges

Fees to consider

There are some associated Government charges and costs, which vary from State to State, in addition to our fees and charges.

A full list of fees can be found in our Business Banking Guide to Fees and Charges below.

Important information

For important information on our Commercial Hire Purchase Loan, view our Terms and Conditions below.

Ready to apply?

Whether you’re ready to apply or you’d like to know more, one of our business specialists will be happy to help and provide more information.