redms Equipment Finance - Redlands Mortgage Solutions | Redlands Mortgage Solutions

Equipment Finance

Equipment Finance

If you are looking to purchase a new motor vehicle or other type of equipment, then equipment finance may be the best funding option. It allows you to fund 100% of the asset value and thus preserve your cash for other purposes such as business growth or buying a home.

Equipment finance is simply a form of funding for the purchase of a chattel (moveable asset) where the chattel becomes the security for the loan. It is usually in the form of a Chattel Mortgage, but may also be Hire Purchase or Finance Lease.

Some assets that are suitable for equipment finance are:

  • Cars and utes.
  • Earth moving and excavation equipment.
  • Wood chippers.
  • Shop or office fit-outs.
Home Loan vs. Vehicle Finance

If you are thinking of getting a home loan in the near future, then please talk to us first. We have seen too many people miss out on getting a home loan because of their monthly vehicle finance payments.

The lesson is, get your vehicle finance AFTER your home loan.

Similarly, before getting vehicle finance, let’s review your existing home loan. Because afterwards may be too late to change it.