Firm Finance Leasing Overview


What Can be Financed?	Passenger cars Light commercial vehicles Heavy trucks and trailers, Forklifts Farm Machinery & Equipment Construction vehicles and equipment Manufacturing plant and equipment Printing presses and associated equipment Office and computer equipment. Other income producing plant & equipment
What Product We Offer	COMMERCIAL HIRE PURCHASE Flexible product best suited to business clients on an accrual basis for GST. Also utilised for those clients not registered for GST, but have “business use” of asset ( Eg: Sales Rep ) We “own” the goods until final payment is made Deposits or trade-in equity can be applied Interest and depreciation claimed by client for tax. Interest rate fixed for term of loan GST claimed “up-front” if client on accruals basis GST claimed “pro rata” across the term if client is on cash basis Flexible product for structuring with balloon payments if desired Interest rate and payments are fixed for term of loan
CHATTEL MORTGAGE	Flexible product best suited to business clients on a cash basis for GST Client owns the goods and allow us to secure them by way of a chattel mortgage Deposits or trade-in equity can be applied Interest and depreciation claimed by client for tax. Interest rate fixed for term of loan GST claimed up-front by business clients Balloon payments can be included at maturity if desired – no tax guidelines applicable
FINANCE LEASE	Best suited to business clients who prefer to minimise capital expenditure We own the asset as “Lesser” Client “rents” the asset via a monthly rental No deposits or trade-in equity may be applied Rentals are claimed by the client as an expense for tax GST is levied on rentals ( but claimed via BAS return ) Residual values must meet ATO guidelines Client indemnifies us for residual value Rentals and interest rate are fixed for term of lease
NOVATED LEASE	Best suited to PAYG employees wishing to “salary sacrifice” the costs of owning and financing a car We enter into lease agreement with the client ( employee ) Client then enters into a Deed of Novation with their employer Employer pays the rental payments to us out of employee’s pre-tax salary and claims the deduction Credit decision is based on credit-worthiness of the client/employee If client leaves the employer, responsibility for lease ( including repayments ) reverts to the client Residual values set in accordance to ATO guidelines Client indemnifies us for residual value “Off Balance Sheet” facility for employer
PRESTIGE CAR LOAN	Available for clients purchasing a New or Used Motor Car where loan amount exceeds $75,000.00 Offers market competitive interest rates Preferential early payout calculation applicable Product is designed to compete with luxury car financiers who use the “Rule of 78” formula when a client terminates contract before expiry
LODOC CAR LOAN PRODUCT	New or Used Cars up to $100,000 Supplied by LMCT dealer ( no Private Sales ) Replacing existing or recently paid out finance contract or ANY OTHER financier/bank Existing contract running at least 18 months and well conducted Purchase price of replacement car is no more than 20% higher than cost price of car being replaced If applicant meets above matrix, then NO INCOME DETAILS OR FINANCIALS are required ( apart from an Asset & Liability Statement )

Motor Vehicle & Others

Overview
Full Docs1st tiers and 2nd tiers credit Criteria for motor vehicles and heavy machineries purchased from a dealer or auction, or Firm Finance residual re-writes > $18,000 but applicant must meet Standard Credit Guidelines Criteria
Offering the simplest guidelines on approval & the fastest settlement in the market. (Subject to the loan scenario terms & conditions)

Target
Individuals (PAYG or self-employed), Companies, Partnerships or Trusts

Loan Purpose	Motor vehicles purchased from a dealer or auction, or Firm Finance residual re-writes > $18,000
Loan Features	Fast settlements
Loan Products	Motor Vehicles, Vans, Utes Light trucks, heavy trucks Trailers, Forklifts, Excavators, Mobile cranes and (non-agricultural) Bobcats, Graders Backhoes, Bulldozers, Loaders, Tractors Caravans, Jet Skies, Boats Motor Homes and heavy Machinery
Minimum Loan Size	$18k (Subject to the loan scenario and to the LVR) Double security
Maximum Loan size	$1,000,000 (Subject to the loan scenario) and higher amounts can be available Maximum Balloon amount 2 and 3 years term 50% 4 years term 45% 5 years term 35% Age limit for balloons No balloons on cars over 4 years old Credit discretion Balloons may be lower at the discretion of credit based on age, mileage, usage and other factors.
Loan to Value Ratio	Up to 100%
Minimum Loan Terms	2 years
Maximum Loan Terms	7 years
Loan Repayment Frequency	Monthly
Security Type	Motor vehicle and equipments
Loan statements	Issued Half Yearly (But you can ask us when required we will mail them to you charges apply).
Documentation Required	Subject to the loan purpose, please call 1300 790 909 for more details
Financial Information	Borrowers who can demonstrate means of serviceability
Qualifying Interest Rate	Please call our consultant on 1300 790 909 for more details
Other Conditions	Vehicle age has to be less than 4 years at commencement of the loan and 10 years at the end of the contract Prime loans Borrowers must demonstrate serviceability with up to date detailed financial statements covering last 2 yrs