With infrastructure projects a dominant feature of government policy across the country for this year and the Home Builder Grant scheme reportedly exceeding demand expectations amongst other indicators, 2021 could be a significant year for construction, engineering, earthmoving and related businesses. The Federal Government Roads Safety Program is well underway with road upgrade projects happening in multiple states. In Queensland the focus is on regional roads especially around Rockhampton and in WA the entire Kimberley to Great Southern has projects happening. In the Northern Territory the first tranche of funding is covering 43 projects which includes upgrades to 150 KMs of roads.
For contactors, the decision may be approaching to invest in new equipment to be well organised and equipped to take on the big-earning projects. But one of the challenges to the overall equipment purchasing processes is sorting finance. Not necessarily getting specific loan quotes but doing your own behind-the-scenes planning. Getting some idea of possible finance repayments on different brands and models without going through a formal application and quote request. Seeing what interest rates apply to different types of loans and how they play out for repayments for your acquisition. For many or most operators, time is a commodity and you don’t want to spend yours in unproductive tasks constantly on the phone to lenders and brokers asking questions.
At Jade Equipment Finance we fully understand our customers’ way of thinking and their requirements and we have built up our self-serve finance resources to specifically meet those needs. First it was our equipment finance calculator, then our valuable and informative news and tips articles and now we have launched our new equipment finance Interest Rate Comparison Tool and Calculator. A valuable and extremely useful resource available right here on our website.
Interest Rate Comparison Tool
While you may know us for our equipment finance products, Jade is a significant lender across multiple sectors and we have a large portfolio of business finance products. In our new interest rate tool we have listed both our equipment loan types and a number of other of our business finance products. We’ve placed this reference resource on our home page and several other web pages for easy access by all our website visitors.
It shows the interest rate we are currently achieving for:-
- Chattel Mortgage
- Operating Leases
- Rent to Own
- Commercial Hire Purchase
- New Equipment Loans
- Used Older Secured Equipment Loan
- Unsecured Business Loans
- Secured Business Loans
- Non-Bank Overdraft
You can see at a glance the different interest rates for each finance product and then take it to the next level and this reference becomes a loan calculator.
Using the Interest Rate Comparison Calculator
You will notice at the top of the chart there are two fields or boxes – Loan Amount and Loan Term. Simply enter the amount of your equipment loan and the term you would like to repay the loan and the repayments auto-calculate across all the listed loan types.
As we offer no deposit equipment finance the loan amount can include the full purchase price of the equipment plus some commissioning and installation costs which we may be able to include in your loan. As this is a generic calculation device there are of course limitations to its capacity and we direct you to the disclaimer for full details.
- This calculator is free to use and there is no obligation to proceed with a loan enquiry, quote request or further contact if you choose.
- As an online device it is accessible from any device where you have internet connectivity.
- Open all hours! As a self-service tool, you are welcome to use our calculator whenever it suits you 24/7.
Used correctly and as intended, this calculator can be of great assistance for equipment buyers to start planning finance for their acquisitions prior to entering discussions with one of our consultants.
Loan Calculator v Interest Rate Calculator
As you may already be aware, we also have an Equipment Loan Calculator on our website. So not surprisingly, many might be wondering – why do we need this interest rate calculator? How does it work with or replace the loan calculator? We hear you and answer your questions.
- The interest rate calculator shows interest rates for all equipment loan types. It allows users to enter only the loan amount and loan term.
- The loan calculator provides similar but different functionality. You can enter the loan term, loan amount and the amount of a balloon/residual you may choose. You can change all these values and the interest rate you enter to structure how you may like your equipment loan to look.
- The two devices can work together. Refer to the interest rate chart and use those rates to enter into the loan calculator.
We always advise that in deciding which particular loan type is the better option for your business set-up is best discussed with your accountant. The decision requires consideration of factors beyond simply the interest rate.
Requesting a Quote and Applying for Finance
The calculators only have the capability to derive estimates. So when you like what you see or you would like clarification with a firm quote, simply call us or request a quote online. If you are ready to just get on with it, apply for a loan online or over the phone with one of our consultants.
For a firm quote after using our calculators, contact Jade Equipment Finance on 1300 000 003
DISCLAIMER: NO LIABILITY IS ACCEPTED FOR MISINTERPRETATION, MISREPRESENTATIONS OR ERRORS IN THE INFORMATION AND PRODUCT DETAILS INCLUDED IN THIS ARTICLE AS SOURCED THROUGH OTHER ORGANISATIONS AND MANUFACTURERS. THE INFORMATION PROVIDED IN THIS ARTICLE IS NOT PRESENTED FOR OR INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION IN REGARD TO A FINANCIAL DECISION. IT IS FOR GENERAL INFORMATIVE PURPOSES ONLY. IF A READER CONSIDERS THEY MAY REQUIRE ADVICE RE THEIR INDIVIDUAL CIRCUMSTANCES, IT IS ADVISED THAT THEY CONSULT WITH A FINANCIAL ADVISOR.
