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Cars, Trucks & Trailers (Vehicles)
Keep your business on the move with our Car, Truck and Trailer financial services. However, don’t stop there! Assets can be unique to the business, and as such, Asset Finance is quite diverse. We also cater for business customers seeking finance for:
- Yellow Goods
- Boats
- Planes & Helicopters
- Buses & Coaches
Accredited with major banks, lower-tier lenders, and specialist providers, we can cater to all services. RION understands business (after all, we are one!) and the importance of your time. We can handle the whole process and documentation, allowing you to focus on the business and handing over the keys to your new or used vehicle as soon as convenient.
Speak with a RION specialist today and get moving…
Plant & Equipment finance
Acquiring new plant and equipment or simply replacing old ones? RION can help you obtain the finance.
Whether you’re purchasing a large piece of equipment for your manufacturing plant, fitting out your warehouse, buying a coffee machine or purchasing office furniture. Plant & Equipment Finance is a versatile form of finance for most business types and sizes. We have the contacts and knowledge to help you get there.
Also, if you’re importing your equipment from overseas, see about our Import Lease solutions below.
All businesses are unique, which is why we at RION are invested in understanding your business and how it works. We help you to find the solution tailored to your business needs making dealing with the banks easy, allowing you time to focus where it’s needed – your business!
Speak with a RION consultant today to discuss your Plant & Equipment finance needs.
Software & Technology
Having the right technology in your business has never been more fundamental. Many companies lag behind the competition as they restrict their IT Infrastructure spending based on budgetary constraints. With technology finance and leasing, you utilise the benefits of your chosen platforms without being weighed down with expensive and outdated technology software and equipment.
RION has over 20 years of lending experience, and we understand the importance of having the right IT solution in running a successful business. We’ll also handle everything from start to finish, letting you focus on what you do best.
Speak with our RION experts today and learn more about how we can help you to finance your technology needs.
Import Lease
What’s an import lease, you might say? Most lenders and banks won’t fund your equipment until it’s installed and fully commissioned. If you're importing a piece of equipment or specialised vehicle from overseas, and your supplier doesn’t fund the transfer, how do you get it here?
This is where an import lease helps. Using our knowledge of international trade finance, an import lease sustains cash flow and funds the importation of the goods into the country and during installation. Once the goods are finished and commissioned, the import finance is then converted into a normal asset finance solution.
What’s more, we can also talk about protecting you with an FX Strategy to minimise exposure to currency movements with our foreign exchange serivces for large and chunky one-off transactions.
Speak with a RION expert today, and understand the risks of international trade and fund your plant and equipment imports…
Asset Finance (Continued)
Typical Asset Finance Products
Chattel Mortgage
Much like a secured loan, only for assets purchased primarily for business use. The borrowing entity owns the asset, and the lender takes a mortgage over said asset as security.
Commercial Hire Purchase
In a Commercial Hire Purchase (CHP) arrangement, the lender agrees to purchase the asset on behalf of the borrower, and then hire it back to them over a set period. The lender owns the asset.
The borrower uses the asset for the contract term but is not the asset owner. At the end of the term, when the total price of the asset (minus any residual) and the interest charges have been paid in full, the borrower takes ownership.
Finance Lease
A Finance Lease enables business customers to use an asset or commercial vehicle while the lender retains ownership of the asset. The lender purchases the asset, and the borrowing entity then leases it back from the lender and pays a fixed monthly rental for the leased term.
At the end of the lease term, the borrowing entity can either:
- pay a residual value (final instalment) on the lease and take ownership, or
- trade it in, or
- re-finance the residual value
A finance lease works much like a CHP. However, there are three distinct differences:
- Ownership - In CHPs, the ownership is transferred to the purchase hirer (borrower) after the final payment. In a finance lease, there is only a possibility of ownership when the lease period ends.
- Depreciation – with a finance lease, the lessor (lender) derives the depreciation benefit, while in a CHP, the hire purchaser (borrower) gets the depreciation benefit.
- Expense – with a CHP and Chattel Mortgage, only the interest and depreciation can be expensed. Depending on the lease agreement, you may be able to deduct the total repayment amount. This will depend on whether ownership will be transferred at the end of the lease.
Rental
This is an agreement between a lender and a customer whereby the lender buys and owns the equipment on behalf of the customer. The lender then rents it to the customer for fixed monthly rent payments over a fixed period. At the end of the contract the equipment is either:
- returned to the lender
- retained and a new rental agreement established
- or is bought by the customer outright at market value