ASSET FINANCE
Asset Finance That Works For Your Business
Need a vehicle, equipment or machinery but don’t want to pay the full cost upfront? Asset Finance lets you spread the purchase over time while putting the asset straight to work.
What is asset finance?
Asset finance allows businesses or individuals to purchase vehicles, equipment or machinery without paying the full amount upfront. Instead of handing over a large chunk of cash in one go, the cost is spread over time while the asset is already out there doing its job. Businesses commonly use asset finance services for things like vehicles, machinery and specialist equipment, so the tools that generate income don’t wipe out the cash flow needed to run everything else.
What types of asset finance are available in Australia?
Chattel Mortgage
A chattel mortgage allows you to own the asset from day one while the lender holds a mortgage over it until the loan is repaid, making it a common choice for vehicles, trucks and business equipment.
Finance Lease
With a finance lease, the lender owns the asset while your business uses it during the lease period, with options at the end to purchase it, refinance the balance or upgrade to newer equipment.
Commercial Hire Purchase
Under commercial hire purchase, the lender buys the asset and you repay it in instalments while using it, with ownership transferring to you once the final payment is made.
Equipment Finance
Equipment finance allows businesses to fund machinery, tools or specialist equipment through structured repayments so the asset can start generating income before it’s fully paid off.
Why use an asset finance company instead of going direct to a lender?
Most banks will only show you their own loan products. An asset finance company like The Happy Finance Company compares multiple lenders to find finance structures that better match the asset you’re purchasing and how your business operates.
At The Happy Finance Company, we:
- Compare multiple lenders
- Identify competitive asset finance options
- Structure finance around your business needs
- Manage the application process
We also handle the lender conversations, paperwork and back-and-forth so you can focus on running your business instead of negotiating finance terms.
How the asset finance process works
Arranging asset finance services is usually quicker than many people expect. The process typically looks like this:
1. Tell us what you’re buying
Vehicle, machinery, equipment. If it helps your business run or make money, we’ll take a look.
2. We compare lenders
We review lenders offering asset finance to find options that suit your situation.
Speak With An Asset Finance Specialist
Planning to purchase a vehicle, machinery or business equipment? The team at The Happy Finance Company can help you explore asset finance services, compare lenders and structure finance that works for the asset you’re buying and the way your business runs.
Frequently asked questions
How do you find the best asset finance in Australia?
The best asset finance option depends on the asset you’re purchasing, your financial position and how the finance is structured over time, not just the interest rate. Working with an asset finance company allows you to compare lenders, loan structures and repayment options to find asset finance services that suit the asset and the way your business operates, rather than simply taking the first offer from a single lender.
What documents do I need to apply for asset finance?
Asset finance applications usually require identification, details about the asset being purchased, financial statements or income information and sometimes business activity statements for business borrowers. A broker can help confirm the specific documents required by each lender.
Do I need a deposit for asset finance?
Not always. Many asset finance lenders offer loans with no deposit depending on the borrower’s financial position and the asset being financed. In other situations, contributing a deposit may help reduce repayments or improve approval chances.
What should I watch out for with asset finance contracts?
Borrowers should review interest rates, repayment terms, balloon payments and any early payout conditions. Working with an experienced broker helps ensure the asset finance structure suits both the purchase and the long-term financial goals of the borrower.
What other finance services does The Happy Finance Company offer?
In addition to asset finance services, The Happy Finance Company also helps clients arrange home loans, construction loans and car finance depending on what you're looking to fund. Get in touch with us to compare lenders and structure a finance that suits your plan.
ANDREA PALELLA (O'SHEA)
MATTHEW GOODYEAR
MATHEW CROSSLEY
JESSE ROSS
