Consumer Loan	Commercial Hire Purchase	Chattel Mortgage	Personal Loan
Definition	For individuals who want to buy a car/boat/ bike not for business purposes. You own the asset from the start of the loan.	You (the ‘hirer’) possess the right to use the asset in return for regular payments. When the final payment is made the title of the asset is transferred to you.	You pay a series of rental payments. At the end of the term, you have the option the purchase the asset at the residual value.	A three way agreement between employer, employee and lender. This allows employees to purchase from their pretax salary via the employer.	You get ownership of the asset from the start of the contract, with us able to secure the loan by registering a charge over the goods.	Loan for non business use that is usually unsecured.
Loan Purpose	Car, boat, bike, truck, caravan, trailers, other	Car, boat, bike, truck, caravan, trailers, other	Car, boat, bike, truck, caravan, trailers, other	Car, boat, bike, truck, caravan, trailers, other	Car, boat, bike, truck, caravan, trailers, other	Debt consolidation, home renovations, car (older), travel, other
Loan Term	1 – 7 years	1 – 7 years	1 – 7 years	1 – 7 years	1 – 7 years	1 – 7 years
Loan Amount	$5,000 – no maximum	$5,000 – no maximum	$5,000 – no maximum	$5,000 – no maximum	$5,000 – no maximum	$4,000 – $50,000
Age of Asset	New up to 7 years old	New up to 7 years old	New up to 7 years old	New or ex demo	New up to 7 years old	Variable
Deposit	Optional	Optional	Not available	Optional	Optional	Optional
Repayment options	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.	- weekly - fortnightly - monthly - Irregular Repayments can be made in advance or in arrears.
Interest Rate	Fixed for the life of the loan.	Fixed for the life of the loan.	Fixed for the life of the loan.	Fixed for the life of the loan.	Fixed for the life of the loan.	Fixed for the life of the loan.
Balloon / Residual	Optional subject to application.	Optional.	Residual required. Minimum set by ATO.	Residual required. Minimum set by ATO.	Optional.	Not available.
Tax benefits	You may be able to claim some depreciation and the interest component against your taxable income, depending on the percentage of business use.	Interest component of the payments is tax deductible.	Rental payments are fully tax deductable if asset is being used solely for the purpose for earning an assessable income.	Numerous tax benefits to the employer.	You may be able to claim some depreciation and the interest component against your taxable income, depending on the percentage of business use.	Not available.
GST	GST is payable only on the initial purchase and can be included in the amount financed.	GST is payable only on the initial asset purchase and can be included in the amount financed. If you hold an ABN and you account on a cash basis GST is amortised over the life of the contract and you may be able to claim an Input Tax Credit each month or quarter.	There is no GST payable on the initial asset purchase. GST is payable on the rental payments over the life of the contract and on the residual amount. If you hold an ABN you may be able to claim the GST as an Input Tax Credit each month or quarter.	There is no GST payable on the initial asset purchase. GST is payable on the rental payments over the life of the contract and on the residual amount. If you hold an ABN you may be able to claim the GST as an Input Tax Credit each month or quarter.	GST is payable only on the initial purchase and can be included in the amount financed. If you hold an ABN you may be able to claim the GST as an Input Tax Credit each month or quarter. No GST is payable on the repayments, balloon payment or term charges.	GST is payable only on the initial purchase and can be included in the amount financed.