5.0 from 12 Reviews
At Garage Finance, we know that running a business means constantly investing in the tools, vehicles, and equipment that keep things moving. Whether you are buying new equipment, upgrading existing equipment, or adding to your fleet, Asset Finance gives Australian businesses a practical way to access what they need without draining their working capital.
What Is Asset Finance?
Asset Finance is a broad term that covers a range of finance options designed to help businesses acquire physical assets. Instead of paying for everything upfront, you spread the cost over time with fixed monthly repayments, making it much easier to manage cashflow and plan ahead. The asset itself often acts as collateral, which means lenders are generally more comfortable funding these types of purchases. At Garage Finance, we access Asset Finance options from banks and lenders across Australia to find a structure that suits your business needs.
What Can Asset Finance Cover?
The short answer is a lot. Asset Finance can be used for commercial vehicle finance, including work vehicles like a truck, trailer, or van. It covers specialised machinery such as excavators, tractor units, graders, cranes, and dozers. It also extends to office equipment, medical equipment finance, hospitality equipment finance, and technology equipment finance. If your business relies on it to generate income, there is likely an Asset Finance solution that can help you fund it.
For businesses in construction, transport, agriculture, healthcare, or hospitality, having access to the right equipment can be the difference between winning a contract and missing out. That is where Garage Finance comes in. We help clients across Australia structure the right type of asset based lending to suit their situation.
Finance Structures Available
One of the things that makes Asset Finance so useful is the variety of structures available. Here is a breakdown of the most common options:
A chattel mortgage is one of the most popular choices for business equipment funding. You own the asset from day one, and the lender takes a charge over it as security. You may be able to claim depreciation and GST treatment benefits depending on your circumstances, so it is worth speaking with your accountant about the tax benefits available to you.
A finance lease means the lender owns the asset and you make regular payments over the life of the lease. At the end, you may have the option to purchase the asset, extend the lease, or return it. This can suit businesses that want to preserve capital and stay on top of their upgrade cycle.
An operating lease is similar but typically shorter in term, and the lender retains more of the residual risk. This works well for businesses that want access to the latest equipment without committing to ownership.
Hire Purchase is another option where you hire the asset and make repayments, with ownership transferring to you at the end of the agreement. It is a straightforward way to fund a machinery purchase or vehicle acquisition.
For employees, a novated lease can be a tax-effective way to finance a vehicle through salary packaging, and Garage Finance can point you in the right direction on this.
Vendor finance and dealer finance are also available in some cases, where the supplier or dealer provides the funding directly. Fleet finance is available for businesses looking to fund multiple commercial vehicles at once.
Why Asset Finance Makes Sense for Business Growth
One of the biggest advantages of Asset Finance is the ability to preserve working capital. Rather than spending a large lump sum on a piece of equipment or a truck and trailer, you keep your cash in the business where it can be used for day-to-day operations, wages, and other opportunities.
Fixed monthly repayments also make budgeting more predictable. You know exactly what is going out each month, which helps with cashflow planning. Some structures also include a balloon payment at the end, which can reduce your monthly repayments during the loan term.
The loan amount available will depend on the asset type, its value, and your business financials. Garage Finance works with a wide panel of banks and lenders to find a loan amount and structure that fits your situation.
If you are looking at plant and machinery finance or need support with equipment finance more broadly, Garage Finance is well placed to help. We also assist with business loans and cashflow solutions for businesses that need a more flexible funding approach.
At Garage Finance, we talk to you like a mate who knows finance. We take the time to understand your business, what you are trying to achieve, and what structure will work best for you. Asset Finance is not one-size-fits-all, and we make sure the solution we recommend actually fits.
Step 1: Initial Conversation
We start with a chat. Whether you reach out by phone, email, or through our website, we take the time to understand what you are looking for. There are no silly questions here. We want to know your goals, your timeline, and what matters most to you.
Step 2: Understanding Your Situation
Next, we take a closer look at your financial position. This includes your income, expenses, assets, and liabilities. The more we understand about your situation, the better we can match you with the right finance solution.
Step 3: Exploring Your Options
With access to a wide panel of lenders across Australia, we do the legwork for you. We compare products, rates, and terms to find options that suit your needs and your budget. We present these to you clearly so you can make an informed decision.
Step 4: Choosing the Right Solution
Once you have reviewed your options, we help you choose the product that makes the most sense for you. We walk you through the details so you know exactly what you are signing up for.
Step 5: Preparing and Submitting Your Application
We handle the paperwork. Our team prepares your application carefully and submits it to the chosen lender on your behalf. We make sure everything is in order to give your application the best possible chance of approval.
Step 6: Approval and Confirmation
Once your application is assessed, we keep you updated every step of the way. When approval comes through, we go over the final terms with you and confirm you are happy before anything is signed.
Step 7: Settlement and Beyond
With everything approved and signed, we manage the settlement process through to completion. But our relationship does not end there. We are here for your future finance needs too, whether that is a review, a refinance, or something new down the track.
I had such a great experience working with Ben and couldn’t recommend him more. From the beginning, Ben made the finance process feel clear and straightforward, always taking the time to explain things and answer any questions I had. Ben was super approachable and incredibly supportive through the whole process. Couldn’t have asked for a better finance broker! Thanks heaps, Ben!!!
Azizah Abdul
Was doom scrolling on TikTok and came across Ben’s page! I was in the market for a new raptor for work- I reached out to Ben and within 4 days Ben turned it around and got it sorted. Super happy with the service and communication skills of Ben! I’ll be back for my next car for sure!
Ash Fleming
I had a great experience working with Ben. He was professional, responsive and took time to explain everything clearly throughout the entire process. He worked hard to find me a competitive finance option and kept me updated every step of the way. Nothing ever felt like too much trouble, and I really appreciated his honesty and communication. I highly recommend him to anyone looking for a reliable and trustworthy broker. Thanks again for all your help Ben appreciate it a lot
Nima Goozal
Ben was an absolute pleasure to deal with! He made the whole car loan process easy, kept me updated every step of the way, and was always happy to help. Thanks so much, I really appreciate everything you did!
Jen Arks
If your business needs equipment, vehicles, or machinery to grow, Garage Finance can help you find the right Asset Finance structure. We work with banks and lenders across Australia to match you with options that suit your business needs. Book an appointment with the Garage Finance team today.
Book AppointmentGarage Finance works with clients right across Australia, whether you are an individual looking to purchase a personal vehicle, a sole trader needing equipment for your business, or a company looking to grow your fleet. We work with a wide range of people in different financial situations. While we cannot guarantee that every application will be approved, we take the time to understand your circumstances before submitting anything to a lender. That way, we are putting your application forward in the strongest possible way. If you are unsure whether you qualify, the best thing to do is reach out to us for a chat and we can talk through your options together.
The timeline can vary depending on the lender, the type of finance, and how quickly we can gather the information needed from you. In many cases, once we have everything we need, we can submit your application to a lender and receive a response within a business day or two. More complex applications, such as those involving self-employed income or commercial assets, may take a little longer. The key to keeping things moving is making sure we have all your supporting documents ready to go. We will let you know exactly what we need upfront so there are no unnecessary delays. Throughout the process, we keep you updated so you always know where things stand.
Garage Finance specialises in vehicle and asset finance. This can include finance for cars, utes, trucks, motorbikes, caravans, boats, trailers, and business equipment. Whether you are buying new or used, through a dealership or privately, we can look at what options may be available to you. We also assist with business-related finance such as chattel mortgages, commercial hire purchase, and finance leases, depending on what suits your situation. Because every person and every purchase is different, we take the time to talk through what you are buying and why, so we can approach the right lenders with the right type of finance product for your needs.
The documents required will depend on your individual situation and the type of finance you are applying for. For most personal vehicle finance applications, you will typically need to provide proof of identity such as a drivers licence, proof of income such as recent payslips or bank statements, and details about the asset you are purchasing. If you are applying for business finance, we may also need things like business financial statements, tax returns, or an ABN. We will give you a clear list of what is needed once we understand your situation, so you are not left guessing. Gathering these documents early can help speed things along considerably.
This is a question we get asked a lot, and it is a fair one. As a finance broker, Garage Finance is typically paid a commission by the lender when a loan is settled. This means that in many cases, there is no direct fee charged to you as the client for our broking service. However, depending on your individual situation, fees may apply, and we will always be upfront and transparent about any costs before you commit to anything. We believe you should have a clear picture of what you are agreeing to before signing anything. If you have questions about costs, just ask us and we will walk you through it honestly.
Absolutely. Protecting your personal and financial information is something we take seriously. Garage Finance handles your data in accordance with Australian privacy laws, including the Privacy Act 1988. We only share your information with lenders and third parties where it is necessary to process your application, and we do so with your knowledge and consent. We do not sell your information or share it for marketing purposes without your permission. If you have any questions about how we collect, store, or use your information, you are welcome to ask us directly or request a copy of our privacy policy. We want you to feel confident that your information is in safe hands.
When you go directly to your bank, you are only seeing what that one lender has to offer. Garage Finance has access to a panel of lenders, which means we can approach multiple lenders on your behalf and compare what they are willing to offer. This saves you time and means you are not limited to a single set of products or policies. Banks also tend to have rigid criteria, and if your situation does not fit neatly into their box, you may be declined without much explanation. As a broker, we understand how different lenders assess applications, and we can help present your situation in a way that gives you a stronger chance of a positive outcome.
Garage Finance is a finance broker based in Australia. That means we work as the go-between connecting you with lenders who may be able to help fund your next vehicle, equipment, or asset purchase. Rather than you spending hours calling banks and lenders on your own, we do that legwork for you. We look at your situation, talk through what you are trying to achieve, and then approach lenders from our panel to find options that suit your needs. We handle the paperwork, the back-and-forth with lenders, and keep you informed along the way. Our goal is to make the whole process feel manageable and straightforward for you.
Getting started is straightforward. You can reach out to us by phone, email, or through our website, whichever suits you. One of our team members will have an initial conversation with you to understand what you are looking to purchase and what your situation looks like. From there, we will let you know what documents we need and begin looking at which lenders on our panel may be a good fit for you. There is no pressure and no obligation in having that first conversation. We are here to give you the information you need to make an informed decision, and we will support you through every step of the process from start to settlement.
Having credit issues in your history does not automatically mean you cannot access finance. Different lenders have different policies, and some are more willing than others to work with applicants who have had defaults, missed payments, or other credit challenges in the past. At Garage Finance, we take the time to understand your full situation before approaching any lender. We will be honest with you about what we think is realistic based on your circumstances. We do not want to waste your time or damage your credit file by submitting applications that are unlikely to succeed. Our job is to find a path that makes sense for where you are right now.