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Compare options
Use our easy-to-read table to help you decide
whether a vehicle loan or finance lease would be best for you
Personal car loan |
Finance lease |
|
| Ownership | ||
| End of the contract | ||
| Option to buy at end of contract | ||
| Residual value liability | ||
| Goods | ||
| New or used | ||
| Recorded on your balance sheet | ||
| Interest | ||
| Fixed rate for full term of contract | ||
| Calculated on GST-inclusive price | ||
| Calculated on GST-exclusive price | ||
| Tax benefits for business | ||
| Interest & depreciation deductible | ||
| GST | ||
| Calculated on cost of goods | ||
| Maintenance plan (optional) | ||
| Risk protection | ||
| Comprehensive (required) | ||
| Mechanical breakdown insurance (optional) | ||
| Maintenance plan optional | ||
| Term | ||
| Minimum-maximum | 3 - 48 months | 46 - 48 months |