Are you ready to take the next step and purchase the vehicle or equipment of your dreams? Do you need help securing financing that fits your budget and unique needs? Look no further than Aidez, your trusted mortgage broker for all your vehicle and equipment loan needs.
At Aidez, we understand that buying a new vehicle or equipment can be a big financial decision, which is why we offer a range of loan products and services to help you make that purchase with confidence. Whether you're in the market for a new or used car, truck, or van for personal use, or you need financing for heavy machinery or equipment for your business, Aidez has got you covered.
We work with a variety of lenders to find the best rates and terms for you, so you can get the financing you need at a price you can afford. Our experienced mortgage brokers will guide you through the loan process from start to finish, helping you determine the loan amount you need, reviewing your credit history and financial situation, and working with lenders to find the right loan product for you.
At Aidez, we take pride in providing personalized service and attention to detail to all our clients. We understand that every loan is unique, and we're committed to finding the best solution for your specific needs. Our goal is to make the loan process as smooth and stress-free as possible, so you can focus on enjoying your new vehicle or equipment and taking your life or business to the next level.
Don't let a lack of financing hold you back from achieving your goals. Contact Aidez today to learn more about our vehicle and equipment loan products and services, and start your journey to success. With Aidez by your side, your dream vehicle or business equipment is within reach.
When you take a vehicle or equipment loan, you would not amortize full amount. You have agreement with lender that end of loan period you will pay rest of the money and clear the loan. Usually this amount is big. This is because of you need to keep low repayment amount or end of the period you have plan to sell or trade-in to another vehicle etc. This is good option if you have limited income and want to keep your cash flow smooth, but you must have plan to what you are going to do to settle balloon payment on end of loan period.
There are various type of motor vehicle or equipment loan types in market.
Straightforward loan given by lender to purchase used or new vehicle. You can borrow this loan as secured loan or non-secured (interest rate may be high) loan. Loan period vary on one year to seven years. You can choose variable rate or fixed rate.
Lender purchase the motor vehicle or equipment and then lease to borrower. It is immediate use with capital or no capital. Borrower pay fixed amount as rent and you are responsible to maintains trade in residual risk of the leased item. End of the leased period you can buy vehicle or equipment by paying balloon amount or residual amount or you can refinance to purchase new vehicle, or you can sell.
The lender purchases the car and then hires it to you over agreed period. Hire purchase can do individual entity or business entity. You need to pay monthly repayment on agreed period and once loan amount completed vehicle transfer to under your name. Hire purchase rates and monthly repayments are fixed. It is flexible to pay total price, trade-in or allows to lump sum balloon payment. Mostly replaced by chattel mortgages.
Three-way arrangement between you, your employer and lender. Employer deduct repayment amount from your salary and pay for lender. You can add vehicle maintenance cost like service fees, tyres etc to repayment. The part of repayment is before tax, hence there are possibility to get some tax advantages. However, every lender and every employer not provide this facility.