Finance options at Patterson Cheney

Why Choose Us?

Simply because we consider ourselves experts in the area of Automotive Finance and Insurance. We have been in this business for over 100 years and have aligned ourselves with the best product providers in the industry.

At Patterson Cheney, we believe that everyone has the opportunity to own their little piece of independence. That’s why we are a bit different. We listen to your needs and ask more questions and only then, will we offer a solution if we agree that’s it’s right for you.

At Patterson Cheney Cars & Trucks, we can provide a complete range of finance and insurance options for personal vehicle use, or for your business, no matter how big or small. Each package can be tailored to suit.

We think we offer the best choice and the best service, meaning you spend less time running around and waiting for 3rd party approval. We can offer you instant online quotes and approvals (to approved applicants) and often, same day settlements. To talk to one of our team call us on 9215 2222 or fill our online enquiry form, and we will be in touch.

We offer quotes on the following products:

  • Car Loans
  • Car Leasing
  • Novated Leasing
  • Chattel Mortgage
  • Commercial Hire Purchase
  • Fleet Leasing
  • Automotive Insurances

Getting Started

Choosing the right finance and insurance package for your new vehicle can be daunting and a bit confusing at times, so it’s important to us, that you make the right choice

Car Loans

A Car Loan is a personal finance product, whereby a financier lends money to an individual for the sole purpose of purchasing a motor vehicle. The vehicle is secured against the load and regular repayments are made to the financier to repay the loan. In most cases, interest on the loan is charged.

If the vehicle is being used for business purposes, tax deductions can be made on the depreciation and running costs based on the percentage of business use.

Once the loan has been paid back, the financier no longer has any interest in the motor vehicle, giving you clear title.

To talk to one of our team call us on 9215 2222 or fill our online enquiry form, and we will be in touch.

Car Leasing

Leasing is a commercial finance product that enables a customer to have the use of a motor vehicle for personal or business usage, whereby the financier purchases the vehicle on your behalf and then they lease the use of it back to you. It’s kind of like renting.

Regular monthly payment are made back to the financier and at the end of the agreed leasing term, you can either hand the vehicle back or pay a final instalment (residual)and take ownership of the vehicle. Or you could trade it in and start a new leasing agreement, or even re-finance the residual amount and continue to make payments until the full amount has been re-paid to the financer, giving you clear title on the vehicle.

To talk to one of our team call us on 9215 2222 or fill our online enquiry form, and we will be in touch.

Novated Lease

This is a term that many of us know as Salary Sacrifice. It’s an agreement between you, your financier and your employer. It works like this: You lease a vehicle, but your employer agrees to take on the obligations on your behalf, by making the repayments from your pre-tax income. This method reduces your taxable income, because the repayments are being made pre-tax.

If your employment ceases, the lease agreement with your employer can be finalised and the obligations are resumed by you, meaning you now have to make the loan repayments yourself (post taxable income). Or you can take the vehicle and the lease with you, as long as your new employer agrees to enter into the Novated Lease Agreement.

There are some tax implications associated with a Novated Lease, and these are best discussed with a finance professional. To talk to one of our team, call 9215 2222 or fill our online enquiry form, and we will be in touch.

Chattel Mortgage

What is a Chattel? It’s anything that is moveable personal property, such as furniture, appliances or in this case a vehicle. So you can’t get a chattel mortgage on a piece of land, because it is not movable.

A Chattel Mortgage is a commercial finance product and is unique in the way that legal ownership of the vehicle (the chattel) takes place at the time of purchase and then the financier takes a mortgage over the vehicle as security until the full repayments have been made.

Chattel Mortgages are commonly used by companies, partnerships and sole traders who use a cash method of accounting. It allows them to claim the GST component of the vehicle upfront, rather than over the term of the loan.

There are some tax implications associated with a Chattel Mortgage, and these are best discussed with a finance professional. To talk to one of our team, call 9215 2222 or fill our online enquiry form, and we will be in touch.

Commercial Hire Purchase

This is a unique arrangement whereby the financier agrees to purchase a vehicle on behalf of the customer and then hire it back to them over an agreed period of time.

This means that the customer has use of the vehicle, but they do not own it.

Once the total price of the vehicle and interest charges (minus any agreed residual) has been paid in full, the customer then takes ownership of the vehicle.

There are some tax implications associated with a Commercial Hire Purchase, and these are best discussed with a finance professional. To talk to one of our team, call 9215 2222 or fill our online enquiry form, and we will be in touch.

Fleet Leasing

Leasing is a smart choice for businesses and their employees, as it reduces the amount of cash tied up on depreciating assets with unpredictable maintenance and running costs.

Leasing can also provide benefits when it comes to operating costs and can include all aspects of vehicle expense such as servicing, fuel and tolls etc. Lease repayments are generally lower, maintenance is assured and vehicles are generally replaced/upgraded every 2-3 years. One monthly invoice is paid to the financier each month that covers all aspects of the vehicle operating costs.

There are some tax implications associated with a Fleet Leasing, and these are best discussed with a finance professional. To talk to one of our team, call 9215 2222 or fill our online enquiry form, and we will be in touch.

Finance Enquiry

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