The Road To Getting A Car Lease In Melbourne

Introduction:

A big dilemma your business may face is whether to buy, through a chattel mortgage, or get a Car Lease In Melbourne for your next vehicle. You have found the dream car, so what are the factors you should consider when deciding on the right finance for your new purchase? 

In past blogs, we have discussed the different types of finance available for SMEs when it comes to purchasing assets for your business, with the two main types being a chattel mortgage and an operating lease agreement. When considering the type of car finance which will suit your needs, you should consider:

- The purchase price of the new vehicle

- The monthly running costs including fuel, registration and insurance

- If you want to take ownership of the car outright from the commencement of the leasing period.

- The residual amount that will be left owing at the end of a chattel mortgage and how this will affect your operating costs

After weighing up the costs of a chattel mortgage and an operating lease, you have decided car leasing is the better option for your business. However, the decisions don't end there. You will need to decide between securing your finance through a broker or through a car dealership as part of a fleet management deal. 

That's where we can help! Here is a comprehensive guide for you through the road to getting a car lease in Melbourne!

Leasing a car through a broker: is it possible?

Absolutely! Not only can you use a broker to assist with your consumer lending needs, but there are specialist commercial brokers, including the team at Finance Brokers Victoria, who can assist with business lending including leasing.

Which car lease is right for me?

This is a common question: should I choose a car leasing option through a lender or through a fleet management car dealership?

How do I know that I am getting the best deal for my money? We can help you choose the right deal for your car lease in Melbourne.

First, let us help you understand the basic difference between leasing through a broker and a dealership.

The main advantage of using a broker through Finance Brokers Victoria is our access to a wide range of lenders offering leasing options. We can help you compare different car leasing rates from a range of sources. So, you find the vehicle and we help you find the best option that keeps costs low. 

If you choose to use a car dealership, you are limited to the brands and models that they stock. However, as they provide fleet management services and purchase vehicles in bulk, they may be able to offer a deal at a lower monthly cost.

Read: The Pros And Cons Of A Car Lease

So, which one is better? Let's look at the pros and cons:

1. Choices:

As mentioned above, a finance broker can provide you with a wide range of options and lenders. So, you can choose not only from different lenders but also from a wide array of different car models and car manufacturing companies.

However, when it comes to a dealership, your options are somewhat limited. A car dealership will only let you choose from specific brands and models for your car lease in Melbourne.

2. Unbiased opinion:

Finance brokers are not tied to any specific dealership or lessor. They work for you so you can be sure you are receiving the best advice. They will receive a commission payment from whichever car lease company you select your vehicle lease in Melbourne from. 

A car dealership provides car finance in Melbourne from specific manufacturers. Hence, you cannot expect an unbiased opinion that aims to work in your best interests.

3. Room for negotiation:

For any deal that you sign, negotiation plays an important role. While you can negotiate the best deal on the price of the vehicle you wish to lease in Melbourne, your finance broker can effectively negotiate to adjust the lease terms according to your budget and needs.

Your ability to negotiate at a car dealership is limited.

4. Expert guidance:

Finance brokers are experts in the field of car leasing. Therefore, they are aware of the car lease trends in the market as well as different lenders' policies. They will also know about any change in the lender's policy first.

You cannot expect this from a car dealership.  Hence, to mitigate any existent or future risk for your car lease in Melbourne, a finance broker who specialises in car leasing is your best choice.

5. Your business may be eligible to lease a vehicle in Melbourne even if you have not held an ABN for two years or you have a poor credit score: 

 A broker has a wide range of professional connections with lenders. Hence, when it comes to a car lease in Melbourne, you have hope even if your business has not held an ABN in Australia for two years or if you have a poor credit score. 

This may not be possible with a car dealership. You may struggle to get a car lease in Melbourne through a car dealership if your credit score is below average.

 6. Customer-oriented service:

Brokers rely on deals being approved to be successful. So, they will always put in maximum effort to get a deal that is ideal for you. The flexibility of a car lease in Melbourne does not only depend on the interest rate. A qualified and experienced broker will guide you through the loan process and make sure you understand the terms and conditions of the lease before you sign. 

This may not be the case with a car dealership so you may end up paying more during the term of the lease.

 7. Time-saving:

Most importantly, experienced brokers effectively save you time, energy, and money. They do most of the legwork for you. So, you can get on with business and won't spend hours ringing different lenders looking, trying to decide on the best deal.

You can be sure that your broker will find suitable vehicle leasing options in Melbourne for you based on the needs of your business. Accordingly, they will compare and sort the different options to choose the best car lease in Melbourne for you. So, you can spend your time selecting the right vehicle for your needs.

A car dealership may not take on the same responsibility.

Why choose us?

Finance Brokers Victoria is a trusted choice for individuals and businesses alike for their car leasing needs in Melbourne. This is because we value our customers and look at the bigger picture when determining their financial budget and needs. Accordingly, we will help select car lease options that won't burn a hole in the back pocket. 

At Finance Brokers Victoria, we have been successfully providing finance options to SMEs for over 36 years. We have a team of highly experienced brokers and a network of over 40 lenders. We will work with you to ensure the needs of your business are met and your lease costs are manageable. Therefore, to get a custom-fit car lease in Melbourne, contact us today.