Finty
Liberty Financial

Liberty Financial Business car loan

Equipment finance

Equipment finance from Liberty Financial, with rates from 8.29% a year.

Written byDavid Boyd
Interest rate a year, from
8.29%
Establishment fee
Not published
Monthly fee
$10
Borrow
$5,000 to $100,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 8.29%, including the monthly fee. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,052
Total repayments
$123,093
Interest and monthly fees
$23,093

Loan details

Rates

Interest rate (a year)
8.29%
Rate type
Variable
Security
Not published
Type of finance
Equipment finance

Limits and fees

Loan amount
$5,000 to $100,000
Loan term
2 years to 7 years
Establishment fee
Not published
Monthly fee
$10

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$5,099

Interest and fees at its starting rate. Typical is $4,272.

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$100,000

Typically you can borrow up to $150,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.29%, so the rate you see is the rate you get.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A $10 monthly fee. That adds $600 over 5 years, as well as the interest.
  • A lower limit. Up to $100,000, less than the typical $150,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.