As published by Resimac. Details not published by the lender are marked.
- Loan amount
- $5K to $250K
- Rate
- Individual assessmentResimac publishes a starting fixed rate for this product but gives no as-at date or p.a. label on the page. Confirm the current rate and applicable loadings with Resimac.
- Rate type
- Fixed
- Term
- 1 yr to 7 yrs
- Structure
- Vehicle loan
- Fees
- Account keeping fee of $4.95 per month · Setup fee of $495 · Private sale or equity raise fee of $695 (instead of the setup fee)
- Time trading
- ABN and GST registered more than 1 year (Lite Doc) or more than 2 years (Low Doc)
- Documents
- Low Doc (maximum $150,000, ABN and GST registered more than 2 years): application and privacy consent, asset and liability statement. Lite Doc (maximum $250,000, ABN and GST registered more than 1 year): also 12 months history on ATO Portal and two most recent Business Activity Statements; 3 months bank statements on request.
- Funding time
- Credit assessment within 24 hours; same-day settlement cut-off 2pm AEST
- Green programme borrower
- ABN and GST registered businesses via accredited brokers
- Eligible green assets or projects
- Electric vehicles for business use
- Restrictions
- Maximum asset age at end of term 12 years. Minimum 10% deposit for non-property owners. Insurance required on all deals, with Certificate of Currency on amounts over $100K. Hybrid cars not eligible for EV discount. Applications submitted by accredited brokers via the Broker Login.
- How to apply
- Through a broker or the lender's relationship managers
- Not published by Resimac
- security, repayment frequency, early repayment, turnover, guarantees, green discount
- Suitable purposes
- VehicleSustainable investment
About Electric Vehicle Finance
Resimac publishes these details for Electric Vehicle Finance: structure vehicle loan; loan amount $5K to $250K; term 1 yr to 7 yrs; time trading aBN and GST registered more than 1 year (Lite Doc) or more than 2 years (Low Doc); documentation low Doc (maximum $150,000, ABN and GST registered more than 2 years): application and privacy consent, asset and liability statement. Lite Doc (maximum $250,000, ABN and GST registered more than 1 year): also 12 months history on ATO Portal and two most recent Business Activity Statements; 3 months bank statements on request.; funding time credit assessment within 24 hours; same-day settlement cut-off 2pm AEST. Not published by Resimac for this product: security, maximum LVR, turnover, guarantees. Ask the lender or a finance specialist to confirm these before you apply.
How it differs from other Resimac products
- Commercial Asset Finance: Structure is vehicle loan here and chattel mortgage for Commercial Asset Finance; Resimac publishes loan amount ($5K to $250K) for this product but not for Commercial Asset Finance; term is 1 yr to 7 yrs here and up to 5 yrs for Commercial Asset Finance; security is published for Commercial Asset Finance (asset-backed) but not for this product.
- Secured Business Loan: Structure is vehicle loan here and short-term secured loan for Secured Business Loan; loan amount is $5K to $250K here and $300K to $5M for Secured Business Loan; term is 1 yr to 7 yrs here and 6 mths to 3 yrs for Secured Business Loan; security is published for Secured Business Loan (property-secured) but not for this product.
- Secured Commercial Loan: Structure is vehicle loan here and short-term secured loan for Secured Commercial Loan; loan amount is $5K to $250K here and $300K to $5M for Secured Commercial Loan; term is 1 yr to 7 yrs here and 6 mths to 5 yrs for Secured Commercial Loan; security is published for Secured Commercial Loan (property-secured) but not for this product.
