Ford Finance Commercial Vehicle Loan
Equipment financeSecured
Our business vehicle loans – aka chattel mortgages, goods loans or commercial loans – help you buy and own vehicles under your ABN. If you use it mostly for work (more than 50% of the time), you’re eligible to apply.
- Establishment fee
- $690
- Monthly fee
- $20
- Borrow
- From $5,000
Interest rate a year, from
Not published
Loan details
Rates
- Interest rate (a year)
- On application
- Rate type
- Not published
- Security
- Secured
- Type of finance
- Equipment finance
Limits and fees
- Loan amount
- From $5,000
- Loan term
- Not published
- Establishment fee
- $690
- Monthly fee
- $20
How it compares
Against the other secured business loans we compare. Typical means the middle half of them.
Setup fee
$690
A typical setup fee is $549.
Monthly fee
$20
A typical monthly fee is $20.
Pros and cons
Pros
Nothing stands out.
Cons
- A higher setup fee. $690, above the typical $549. It's usually added to the loan, so you pay interest on it too.
- A $20 monthly fee. That adds $1,200 over 5 years, as well as the interest.
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
- A $20 late payment fee. Setting up automatic repayments avoids it.