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Equipment finance comparison

Overview

Finance Lease

Rural Bank purchases the equipment and then leases it to you for an agreed period.

Asset Purchase

Rural Bank purchases the equipment and you buy it from us in instalments.

Equipment Loan

You own the equipment and Rural Bank provides a loan secured against the equipment.

You own the equipment from the start

Finance Lease

No

Asset Purchase

No

Equipment Loan

Yes

You own the equipment from the end

Finance Lease

No

Asset Purchase

Yes

Equipment Loan

Yes

Deposit allowed

Finance Lease

No

Asset Purchase

Yes

Equipment Loan

Yes

Minimum amount

Finance Lease

$20,000

Asset Purchase

$20,000

Equipment Loan

$20,000

Term

Finance Lease

2 to 5 years

Asset Purchase

2 to 5 years

Equipment Loan

2 to 5 years

Fixed rentals/repayments

Finance Lease

Yes

Asset Purchase

Yes

Equipment Loan

Yes

Residual/balloon payment

Finance Lease

Residual value required

Asset Purchase

Balloon payment optional

Equipment Loan

Balloon payment optional

Repayment frequency: Can be tailored to suit your cash flow (monthly, quarterly, half yearly, seasonally or annually)

Tax deductibility: Depreciation on equipment, interest payable and rental payments may be tax deductible. Speak to your taxation advisor for further information about potential tax benefits and selecting the right equipment finance option.

Terms, conditions, fees and charges may apply. Full details are available on application or by phoning our Customer Service Centre on 1300 660 115, online or by visiting your local branch. All information is subject to change. Products are issued by Rural Bank Limited.