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Commercial Hire Purchase (CHP) for Commercial Operators
Jade offers Commercial Hire Purchase (CHP) as a commercial loan product option for the purchase or refinance of equipment. CHP can be applied by businesses of all sizes, including small, solo operators, SMEs and large corporations.
CHP is available for a wide range of equipment across many industry sectors. The decision as to whether or not CHP is the best financing option for your business will be based on your accounting method.
With a CHP, the lender purchases the equipment on behalf of the borrower business and hires the equipment to the borrower/customer for a fixed monthly amount over a fixed time period. The lender retains ownership of the equipment throughout the loan agreement term but the borrower has full use of that equipment.
Equipment CHP Key Features
- CHP loans are based on Jade’s better interest rates.
- Suited to businesses that operate with an accruals accounting method.
- Fixed interest rate for the term of the CHP contract.
- Fixed monthly repayments.
- Balloon may be included but not compulsory – payable when the monthly repayments are finalised. Allowed balloon amounts can vary depending with each lender depending on the goods, term, and age of the asset.
- CHP can be arranged with terms from 1 year/12 months to 7 years/84 months.
- The interest component of the monthly payments is tax deductible as a normal operating expense.
- GST on the equipment purchase price can be claimed on the next BAS (Business Activity Statement) for businesses registered for GST if you are accrual-based GST. For cash-based GST – you only claim GST in proportion to the principal loan amount you pay each quarter.
- GST does not apply to the monthly payments or the balloon.
- Depreciation on the equipment can be claimed in line with Australian Taxation Office guidelines.
Hire Purchase Calculator
The use of this free calculator is based on the end user’s awareness and acceptance that the estimated repayments presented do not indicate a loan quote; it does not imply an application for any loans has actually been lodged; it is not an implication that any type of finance application has been approved. The format of this online calculator does not allow for specific information concerning any type of personal finance application or any lender fees and charges. It is formatted to provide a basic result based on basic info and values only.
After lodging a formal loan application, the quote and payment totals that you may likely be offered may differ from the loan quote determined by this tool.
The device is not ideal for computations on financings that are established on a rate of interest basis. The format is totally set up to compound interest for a chosen period based on the values typed in by the site visitor.
The calculator is not meant as a tool for financial decision-making. Users who need finance advice ought to choose an expert monetary consultant in relation to their circumstances. To make an application for lending and receive a quote based on your personal requirements, the user should speak to Jade and have their personal application assessed by our Jade consultants.
At the conclusion of the contract period, when all repayments, interest and balloon have been paid, the ownership of the equipment is transferred to the borrower. Talk to your Jade Consultant about refinancing the balloon if required.
Whether you are in manufacturing, construction, IT, catering, medical finance, waste and recycling, technology, warehousing, Agricultural & Farm Machinery Loans or any other sector, Jade is available to arrange a workable CHP to support your business objectives.
Your Jade Consultant is readily available to explain exactly the details of CHP but always consult with your own finance people for specific advice regarding your business.
Speak with a Jade Equipment Finance Consultant to discuss CHP finance for your proposed equipment purchase. Call 1300 000 003.
| Lender | Loan Product | Interest Rates From | Monthly Repayment |
| Jade | Equipment Finance | 6.70%Fixed Rate | $589.80 MONTHLY |
| Jade | Business Loans - Unsecured | 14.95%Fixed Rate | $712.91 MONTHLY |
| Jade | Business Loans - Secured | 6.85%Fixed Rate | $591.92 MONTHLY |
| Jade | Overdraft - Non Bank | 14.95%Fixed Rate | $712.91 MONTHLY |
| Jade | Chattel Mortgage | 6.85%Fixed Rate | $591.92 MONTHLY |
| Jade | Operating Leases | 6.85%Fixed Rate | $591.92 MONTHLY |
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Jade
Equipment Finance
|
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| 6.70%Fixed Rate | $589.80 MONTHLY | |
|
Jade
Business Loans - Unsecured
|
||
| 14.95%Fixed Rate | $712.91 MONTHLY | |
|
Jade
Business Loans - Secured
|
||
| 6.85%Fixed Rate | $591.92 MONTHLY | |
|
Jade
Overdraft - Non Bank
|
||
| 14.95%Fixed Rate | $712.91 MONTHLY | |
|
Jade
Chattel Mortgage
|
||
| 6.85%Fixed Rate | $591.92 MONTHLY | |
|
Jade
Operating Leases
|
||
| 6.85%Fixed Rate | $591.92 MONTHLY | |
DISCLAIMER: This comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for business finance or any indication that an application has been received or approved. The rates quoted are for business use where the funds are predominately for business use and may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
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