Capital Finance

Capital Finance eligibility and documents

The current offering targets business vehicle and equipment finance. Eligibility depends on the applicant, vehicle, finance structure and Capital Finance’s credit assessment. Public materials do not establish a universal minimum income, credit score, residency rule or vehicle-age limit.

The credit documentation checklist distinguishes streamlined policy applications from larger or fully assessed exposures. Depending on the pathway, requirements include:

• Business background, ownership details, the vehicle description and reason for purchase.
• Signed privacy consent and identity verification for relevant individuals.
• Financial statements, tax returns, existing financial commitments and directors’ or guarantors’ assets and liabilities.
• Additional management accounts, tax-account information or cash-flow projections where required.

Some applications require two or three years of financial statements; this is not a universal minimum trading-history rule. Ask your broker which checklist applies. The settlement checklist also requires an affordability declaration where applicable and completion of approval conditions before funding.

Who should consider Capital Finance?

A Goods Loan may suit a business that wants vehicle ownership immediately while spreading the purchase cost. Hire Purchase offers ownership after the final payment, while a Finance Lease provides use of the vehicle with end-of-term purchase or upgrade options.

Borrowers expecting to sell or refinance early should scrutinise exit costs. Those buying solely for personal use should compare consumer car finance options; the current product pages do not establish a standalone personal car loan. A novated lease requires employer involvement and a separate assessment of the salary package.

How Capital Finance vehicle finance works

Under a Goods Loan, the business owns the vehicle from settlement and Capital Finance holds security over it. Under Hire Purchase, ownership transfers after the required final payment. A Finance Lease leaves ownership with the financier during the lease; obtain the end-of-term purchase conditions in writing.

Application and settlement

1. An accredited broker checks the proposed vehicle, purchase channel and finance structure.
2. The broker submits the application through DriveOnline with the required financial information and consents.
3. Capital Finance assesses credit and validates documents. Review the approved rate, fees, security, guarantees and any final lump sum.
4. Settlement follows signed documents, identity clearance, supplier verification and applicable inspection and insurance requirements.

The privacy statement identifies Equifax as Capital Finance’s credit reporting body. Ask whether an initial enquiry involves a credit-file search before authorising an application.

How long does approval take?

Capital Finance offers conditional fast-track pathways under its Motor Vehicle and Small Ticket policies. The checked materials do not establish a universal same-day approval or funding deadline. Approval and settlement are separate stages.

Questions to resolve before signing

• What is the annual interest rate, total amount payable and complete list of lender and broker charges?
• Does my agreement incorporate the published fee schedule, and which additional costs apply?
• What balloon or residual is due, and what happens if the vehicle sells for less than that amount?
• Do extra payments reduce interest, shorten the term or simply place the account in advance?
• What would an early payout cost at my expected sale or replacement date?
• What insurance, personal guarantees and business-purpose declarations are required?
• For a lease, what must I pay or arrange to acquire the vehicle at the end?

Capital Finance advantages and limitations

• Choice of ownership structure: Businesses can compare immediate ownership, ownership after repayment and leasing.
• Predictable rate structure: Fixed rates support budgeting, although insurance and vehicle running costs remain separate.
• Purchase flexibility: Official settlement documents provide for private sales and refinancing, subject to additional checks.
• Limited public price comparison: A broker quotation is needed to establish the actual borrowing cost.
• Exit exposure: Early termination charges and break costs can reduce the benefit of selling or refinancing.
• Security risk: Ownership under a Goods Loan does not remove the financier’s security interest.

Capital Finance interest rates, fees and total cost

Request a written quotation showing the annual rate, repayment schedule and total payable. No current numerical rate or comparison rate was verified in the checked product materials.

The published fee schedule applies only where your agreement includes capitalfinance.com.au/EFfees. It lists:

• Establishment: $500.
• Inspection: $150 where required; an agent’s charge may differ and must be disclosed.
• Early termination: $400 for a Goods Loan or $440 for a Lease or Hire Purchase.
• Other conditional costs: Variable break costs, security search and registration charges, and external legal documentation fees.

The break-cost fact sheet explains that early repayment can trigger a charge related to changes in wholesale interest rates. The calculation is separate from the early termination fee, so request a dated payout figure.

Fee-only illustration

Where the schedule applies, $500 establishment plus a standard $150 inspection totals $650. This excludes interest, insurance, security-registration charges and any broker fee. It is an illustration of two charges, not a loan quotation.

Insurance and final-payment costs

Capital Finance’s servicing guidance requires financed equipment to remain insured. Its settlement checklist varies the insurance evidence required by asset value. An evidence exemption does not establish that insurance is optional. Confirm cover, business-use exclusions, excesses and treatment of a total-loss shortfall with the lender and insurer.

Compare the deposit, all scheduled repayments, any final lump sum and separately paid charges without counting financed fees twice. Assess monthly affordability after insurance, running costs and existing commitments. A smaller instalment with a balloon can leave more debt outstanding and increase total interest.

Is Capital Finance worth considering?

Capital Finance’s strongest feature is its choice of business vehicle ownership and leasing structures. Its main limitation is that public information cannot establish how competitive your particular offer will be. Compare its written quote with other business finance options using the same vehicle price, deposit, term and final payment, including the cost of exiting when you expect to replace the vehicle.

Capital Finance car loan and vehicle finance FAQs

Is Capital Finance suitable for a personal car purchase or mainly business vehicles?

Capital Finance’s current range focuses on business vehicle finance, with a separate Novated Lease arranged through an employer. A standalone consumer car loan was not verified. This distinction affects the comparison: a Goods Loan provides immediate business ownership, while a novated lease involves salary packaging and different end-of-term obligations. For a personal purchase without employer involvement, compare consumer car loans. For a novated lease, compare the effect on take-home pay, package fees and final payment rather than the pre-tax deduction alone.

Can self-employed applicants qualify without supplying full financial statements?

Capital Finance accepts business enquiries from sole traders and offers conditional fast-track pathways under its Motor Vehicle and Small Ticket policies. Its documentation checklist separates these pathways from applications requiring fuller financial evidence. That does not establish a general no-doc offer. Ask which policy applies to your requested amount and existing exposure, what evidence replaces financial statements, and whether a personal guarantee is required. When comparing lenders, distinguish reduced paperwork from less restrictive approval criteria.

Does Capital Finance consider bad credit or Centrelink income, and will applying affect my credit file?

No specific acceptance policy for adverse credit or Centrelink income was verified in the checked materials. Capital Finance’s privacy statement confirms creditworthiness assessment and identifies Equifax as its credit reporting body. Before authorising a broker to submit an application, ask whether your circumstances fit the lender’s policy and when a credit enquiry will be recorded. A preliminary discussion, indicative quote and formal application should not be assumed to have the same credit-file implications.

Can Capital Finance fund a used car bought privately, and what extra requirements apply?

Eligible used vehicles are within its stated offering, and the settlement checklist specifically provides for private purchases. Requirements include an asset inspection, seller details, banking evidence and release of existing security where applicable. This contradicts a blanket claim that purchases must come from franchised dealerships. Confirm acceptance of the particular vehicle before committing to it. When comparing a private purchase with a dealer offer, include inspection charges and any additional settlement requirements alongside the purchase-price saving.

How do I compare Capital Finance rates, fees and deposit requirements?

Capital Finance directs borrowers to brokers for current rates and advertises no ongoing account-keeping fees. Its business finance comparison allows full or partial funding of eligible assets, subject to approval; this does not confirm that on-road costs and fees will also be financed. Compare written quotes using the same vehicle price, deposit, term and balloon. Separate the amount paid to the seller from financed fees, optional products and any broker charge. Otherwise, a lower rate may apply to a larger debt.

Does a Capital Finance balloon payment reduce the cost or only the repayments?

A balloon leaves part of the debt payable at the end. Capital Finance explains that it lowers regular repayments but increases total interest. Request otherwise identical quotes with and without a balloon, showing total interest and the final amount due. The balloon does not promise a matching resale value: if the vehicle sells for less than the payout, that difference still needs funding. For comparison purposes, treat a lower monthly repayment and a lower total borrowing cost as separate outcomes.

Do extra repayments reduce interest, and what does early settlement cost?

Capital Finance permits additional payments and says they may place an up-to-date account in advance. Its public guidance does not establish whether each extra payment immediately reduces interest or can be redrawn. Obtain that explanation before comparing it with a loan offering flexible principal reductions.

The fee schedule dated 23 August 2024 lists early termination charges of $400 for a Goods Loan and $440 for a Lease or Hire Purchase, plus potential break costs. These figures apply only where the agreement incorporates capitalfinance.com.au/EFfees. Request a payout calculation rather than treating the termination fee as the entire exit cost.

Can I sell or refinance the car before the agreement ends?

Capital Finance requires its contract to be paid out before or at sale. Its settlement documents also provide for refinancing, subject to approval and supporting evidence. For a lease, confirm ownership and purchase conditions before arranging a sale. To assess refinancing, compare all remaining payments under the existing agreement with the replacement loan’s payments and separately paid switching costs. Extending the term can reduce the instalment while increasing the total paid; adding a vehicle-sale shortfall to another loan also increases the new debt.

What support is available if repayments become difficult or I dispute a charge?

Capital Finance’s help page directs business repayment difficulties to 1300 780 131. Its contact page separately lists 1800 642 626 for hardship. Ask how any proposed arrangement changes interest, the repayment term and the final payment.

For complaints or help reaching the appropriate team, call 1300 300 309, Monday–Friday, 8:30 am–6 pm Sydney time, or email customerservice@capital-finance.com.au. Request an itemised explanation for disputed payout charges. Unresolved complaints may be referred to the Australian Financial Complaints Authority on 1800 931 678, subject to its jurisdiction.