Equipment Finance
Information on obtaining finance for a new HYTILE Cable Hoist or Belt Elevator
(1) PERSONAL LOAN FROM BANK: A personal loan from your bank is probably still the cheapest form of finance available. If the bank manager is happy with the way you have used your account, he can usually give approval for the loan the same day. On this type of loan all interest is fully tax deductable and the Hytile Hoist or Elevator price is depreciated at the rate of 15% the first year, and 30% each year after that. (What this means is that if you are paying about a third of your income in tax, you effectively claim the full cost of your machine back in just a few years.)
(2) LEASING: In the majority of cases if your credit rating is OK, or you can arrange a guarantor, the leasing finance will be granted. (All lease payments are tax deductable, but there is no depreciation on the Hoist or Elevator.)
Hytile’s contact for leasing is:
Malcolm Hall
AMH Vehicle & Equipment Finance
Mobile: 0432 276 506
Malcolm will be pleased to provide you with an obligation-free quote for your requirements and is happy to answer any questions you may have.
The benefit of one method of finance over the other will depend on what suits your own particular situation or structure. Your accountant is probably the best person to give you this advice.
When you have decided which option best suits your needs, Hytile can fax the required hoist or elevator information and prices direct to the bank or other organisation supplying your finance, so that unnecessary delays are avoided. (And you don’t have to wait for the bank to pay us before picking up your new Hytile Hoist or Elevator. This can be done as soon as your loan or lease application has been approved, signed by you, and returned to the organisation providing the finance.)