Services
Flexibility
Service Finance offers you the most flexible approach to equipment procurement, because you choose what works for you, what you want and how often you pay. Service Finance provides total flexibility by allowing you to Rent or Lease to structure your payments and choose your term.
With our range of finance products, we will finance different requirements and equipment, so we can meet all your small ticket finance needs.Products
Service Finance Products - a one stop shop for all your finance requirements.
- Lease Finance with option of ownership for a small residual.
- Rental Finance for off balance sheet borrowing.
- Discounting existing rental plans.
If you have any finance requirements, which Service Finance can't meet for any amount regardless of size, we can provide alternative funding options to meet clients needs.
Instant Lease Approval to $10,000
Service Finance can provide instant approval for $10,000 using Lease Finance with an option to purchase for a residual as little as $50 at the end of the term. Just call Service Finance on the phone and you can take immediate delivery of all your IT equipment and other lower cost office or factory equipment needs. All you need for instant approval is:
- Clear credit history through CRAA.
- In business for 2 years
- Property owner.
Product Descriptions
| Rental | Finance Leasing |
| Renting is an operating lease where ownership is not the motivation but where upgrading to new equipment during the term, is easy. If you don't upgrade, equipment is returned at the end of the term. Alternatively if you wish, you could keep renting or make an offer to purchase the equipment. | The financier owns the equipment until the final payment, including any residual, is paid. Then ownership is transferred to the lessee. |
| Normally there are no residuals in a rental agreement. | There is usually a residual value, which is owed to the financier at the end of the term. It is often calculated as a percentage of the original purchase price. In the case of residuals there is a risk the equipment will not worth the residual payment. |
| Rental costs are normally treated as deductible expenses for businesses*. GST and stamp duty are paid with each instalment. * Please refer to your Accountant or Advisor for Tax advise | Lease costs are normally treated as deductible expenses for businesses*. GST and stamp duty are paid with each instalment |
| Rental equipment is not shown on the Balance Sheet and neither are the rental payment liabilities, other than due or overdue payments. | The purchase price under a finance lease is treated as a capital purchase and depreciated over the life of the asset. The interest cost is also treated as an expense. GST and stamp duty are payable with each instalment. |
| Both the asset and liability are shown on the balance sheet. | |
| The main advantage of a rental is easy upgrades and add ons. | Upgrades and add ons generally require another lease and/or the payout of the old lease - a penalty may be incurred for this. |
Discounting
Discounting is available where Security or Water Filtration services offer clients a rental, which includes both a capital rental and a maintenance element. SFC discounts the future rentals for the equipment and pays the Supplier then collects both the equipment rental and maintenance costs on behalf of the Supplier. Using this facility the Supplier is paid the capital cost of the equipment and SFC collects the maintenance costs monthly on the Supplier's behalf.
Call us for more information:
New South Wales (02) 8969-2712 Queensland (07) 3397-5111 South Australia (03) 9682-2077 Victoria (03) 9682-2077 West Australia (08) 6142 6000