Finance Your Business Electric Vehicle
Commercial EV finance is designed specifically for businesses with an ABN looking to purchase electric vehicles. Whether you're buying one company car or an entire fleet, we offer flexible financing options with competitive rates and significant tax benefits.
With 6+ months of trading history, your business can access chattel mortgages, finance leases, and operating leases tailored to your cash flow requirements. Electric vehicles purchased for business use qualify for substantial tax deductions including GST claims, depreciation, and interest expenses.
Key Benefits
- Tax Deductions: Claim GST on the purchase price (if registered), depreciation, and interest expenses
- Flexible Terms: Finance periods from 1-7 years with balloon payment options
- Fleet Packages: Competitive rates and consolidated billing for multiple vehicles
- Fast Approval: Most applications assessed within 24-48 hours
- Lower Running Costs: EVs cost significantly less to operate than petrol/diesel vehicles
- Preserve Cash Flow: Spread the cost over time rather than paying upfront
Commercial EV Finance Options
Chattel Mortgage
A chattel mortgage allows you to own the vehicle from day one whilst the lender holds a charge over it as security. This is the most popular option for businesses as it provides immediate ownership and maximum tax benefits.
- Claim GST on purchase price (if registered)
- Deduct depreciation and interest expenses
- Balloon payment options available
- Vehicle appears on your balance sheet
Finance Lease
With a finance lease, the lender owns the vehicle during the lease term. At the end, you can purchase the vehicle for the residual value, refinance it, or return it.
- Claim lease payments as business expenses
- GST claimable on each payment
- Vehicle remains off your balance sheet
- Flexible end-of-lease options
Operating Lease
An operating lease (also called a rental) is ideal for businesses wanting to use an EV without owning it. Fixed monthly payments cover the vehicle cost and can include maintenance.
- Fully tax-deductible lease payments
- No ownership obligations
- Maintenance packages available
- Upgrade to newer models easily
Eligibility Requirements
To qualify for commercial EV finance, you'll need:
- Active ABN with 6+ months trading history
- GST registration (recommended for maximum tax benefits)
- Good business credit history
- Recent financial statements or tax returns
- 10-20% deposit (varies by lender)
How to Apply
Choose Your EV
Select the electric vehicle(s) that suit your business needs. We finance all makes and models including Tesla, BYD, MG, Hyundai, and commercial EV vans.
Submit Your Application
Complete our quick online form or call us on 0450 639 587. We'll need basic business details and information about the vehicle you're purchasing.
Get Approved
Most applications are assessed within 24-48 hours. We'll present you with the best finance options from our panel of lenders.
Arrange Settlement
Once approved, we coordinate with the dealer or private seller to arrange payment and delivery. You can be driving your new EV within days.
Frequently Asked Questions
What is commercial EV finance?
Commercial EV finance allows businesses with an ABN to purchase electric vehicles through tax-effective financing structures including chattel mortgages, finance leases, and operating leases. These options allow you to claim GST, depreciation, and interest as business expenses.
Can I claim GST on an electric vehicle purchase?
Yes, if your business is registered for GST and the vehicle is used for business purposes, you can claim the GST component on the purchase price through a chattel mortgage or finance lease arrangement.
What is the minimum trading history required?
Most lenders require a minimum of 6 months trading history with an active ABN. Some specialist lenders may consider newer businesses with strong financials or director guarantees.
Can I finance multiple electric vehicles?
Yes, we offer fleet finance packages for businesses purchasing multiple EVs. Fleet discounts and consolidated billing are available for 3+ vehicles.
What deposit is required for commercial EV finance?
Commercial EV finance typically requires a 10-20% deposit, though this can vary based on business financials, credit history, and the specific lender. Some lenders may offer up to 100% finance for well-established businesses.