The benefits of Vehicle and Equipment Finance

Key points

• What is Vehicle and Equipment Finance?
• How can Vehicle and Equipment Finance help your business?
• How is ANZ’s Vehicle and Equipment Finance different from the other banks?
• Applying for Vehicle and Equipment Finance.

When running your own business, having the right equipment is crucial. There may come a time when you need to update your assets to help ensure your business remains efficient and profitable.

Typically, many business owners rely on their own cash to upgrade these important assets, like company cars, equipment for medical and dental practices, and earthmoving machinery for construction. Alongside typical overheads such as wages and rent, these costs can put a huge dent in your cash reserves.

That’s where financing your purchases can help reduce the impact on your cash flow.

What is Vehicle and Equipment Finance?

Vehicle and Equipment Finance is a way for you to buy or lease the assets that you need for the day to day operations of your business, allowing the cost to be spread out over time. This form of finance uses the vehicle or equipment being funded as collateral for the loan, and approved customers may not even need a deposit. The asset is then paid off, with interest, over a period of time via instalments.  

How can Vehicle and Equipment Finance benefit your business? 

Vehicle and Equipment Finance allows you to obtain assets for your business while preserving working capital, giving you the peace of mind for any unexpected expenses.

As your business grows and adapts, Vehicle and Equipment Finance can be used to acquire or upgrade the assets that allow you to meet the changing needs of your customers, without the substantial upfront cost.

“Vehicle and Equipment Finance helped one of my customers, an apparel printing and design studio in Sydney, grow their business by purchasing a high-end printing machine with the ability to print 400 shirts per hour. This new purchase meant they could expand their servicing offering quickly and speed up their production while continuing to offer a quality product.”

Nicole Xue, ANZ Business Banker

How is ANZ’s Vehicle and Equipment Finance different from the other banks?

ANZ’s Vehicle and Equipment Finance allows access to funding for vehicles and equipment with flexible repayment options and competitive pricing to help you budget more accurately. For example, customers working in agriculture can make repayments seasonally to align with harvest timing, or a business can tailor repayments to best suit their accounting cycle.

We’ve also joined forces with the Clean Energy Finance Corporation (CEFC) to help our customers save a further 0.50% off the standard asset finance rate when they finance eligible energy-efficient assets.^disclaimer Encouraging investment in renewables is a key part of our 2025 sustainability goals.

“LRT/VCT Transport needed finance to help switch to a more energy-efficient onsite refrigeration system. With ANZ’s help, they were able to install a rooftop solar system, which brought down their power bills and drastically reduced their carbon emissions.”

Paul Connor, ANZ Agribusiness Manager

ANZ GoBiz - the online platform powering Vehicle Finance

ANZ GoBiz is our online lending platform that allows you to connect your accounting software – Xero, Intuit QuickBooks or MYOB, and get access to a business vehicle loan. With GoBiz, you can get a fast online quote for the vehicle you’re looking to buy, and if you’re eligible and ready to go, you could receive conditional approval in just 20 minutes.^disclaimer

If you’re looking to replace or upgrade a financed or recently paid out^disclaimer  asset, ANZ’s Rapid Replacement process could simplify the process for you.

Eligible customers^disclaimer can finance an upgrade to an existing asset with minimal paperwork. For more information including eligibility criteria, check out the Rapid Replacement process.

How can you apply?  

To get the ball rolling and start reaping the benefits of ANZ’s Vehicle and Equipment Finance, please chat to your accountant or tax advisor to find out whether ANZ’s Vehicle and Equipment Finance is right for your business.

For most vehicle loans, you can get a fast online quote which calculates your repayments. If you’re looking for equipment, or another finance type, book an appointment with an ANZ business banking specialist.

Then, talk to an ANZ Banker for more information on how to apply for Vehicle and Equipment Finance!

Next steps

Request a call back or chat with one of our local business bankers about ANZ’s Vehicle and Equipment Finance today!