Commercial hire purchase calculator

A commercial hire purchase (CHP) is a commercial finance product that enables a business to buy a car.

It works by a financier purchasing a vehicle on behalf of the business. The financer leases it back to them over an agreed-upon period of time.

At the end of this period, as long as the price of the vehicle and interest has been paid back in full, the business takes ownership of the car.

A commercial hire purchase has a range of benefits for businesses, and one way to work out these benefits is to use our commercial hire purchase calculator that will give you an indication of your monthly payment.

Leasing Calculator

The calculator below is intended as a guide. Remember that each leasing provider and lender is different and it's always important to take into account the comparison rate and any fees and charges associated. This calculator is meant as a guide only and doesn't factor in GST.

Below are a range of commercial car loans.

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Name	Product	Min. Loan Amount	Max. Loan Amount	Loan Term	Upfront Fee	Filter Values
Swoop Finance Business Loan		$1,000	$100,000,000	1 to 20 years	Depending on your loan contract		Apply online and borrow between $1,000 and $100,000,000. Options for good and bad credit borrowers.	Go to site More Info	Compare	loading Fetching your data...
Lumi Unsecured Business Loan		$5,000	$300,000	3 months to 3 years	2.5% establishment fee		Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.	Go to site More Info	Compare	loading Fetching your data...
ebroker Business Loan		$5,000	$5,000,000	1 month to 30 years	$0 application fee		Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.	Enquire now	Compare	loading Fetching your data...
Valiant Finance Business Loan Broker		$5,000	$1,000,000	3 months to 5 years	$0 application fee		A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.	Enquire now	Compare	loading Fetching your data...
Westpac Business Loan		$20,000	$3,000,000	1 to 30 years	$0 application fee		Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.	Enquire now	Compare	loading Fetching your data...
ANZ Secured Business Loan		$10,000	No maximum amount	Up to 30 years	Subject to negotiation and will be detailed in your Letter of Offer		Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.	Go to site More Info	Compare	loading Fetching your data...

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How do you use the commercial hire calculator?

Using the calculator is simple. You just enter your information into the relevant fields and the calculator will calculate your repayments on your car finance.

• Loan amount. This is the amount you intend to borrow.
• Term of the loan. The loan term is the amount of time agreed-upon by you and the financier. It’s generally between one and five years for fixed repayments or one and seven years for variable.
• Residual (balloon) percentage. There is a percentage of the principal that is not paid for in monthly repayments, and is paid for at the end of the loan term. This is referred to as a residual or balloon percentage.
• Residual (balloon) amount. This is the dollar amount that the residual percentage represents.
• Interest rate. The rate of interest that you pay for the commercial hire purchase. This may be fixed or variable.
• Repayment frequency. How often do you make repayments? Weekly, fortnightly or monthly?

Have more questions about using the commercial hire purchase calculator?

How can I use the calculator to reduce my repayments?

As outlined in the case study above, you can change the information you enter into the calculator and see if your repayments are reduced. By simple changing from monthly to weekly repayments John was able to reduce the amount he paid each month. You can also increase your residual payment, but keep in mind that this will still need to be paid at the end of the loan term.

How can I reduce the amount of interest I repay in my loan?

Reducing interest and reducing repayments are two entirely different things, though you can reduce the interest payable by lowering your principal. You can reduce your interest by lowering your loan term, increasing the frequency of your repayments or by budgeting to make additional repayments.

How accurate is the calculator?

The calculator is an approximation, but it is an accurate approximation as long as the information you put into it is correct. Keep in mind the calculator doesn’t take into account the fees or other costs that may come with your commercial hire purchase.

Do I need to supply any personal information to use the commercial hire purchase calculator?

No personal information is needed to use the CHP calculator. You only need the loan amount, the loan term, the interest rate, the repayment frequency, and the residual amount and percentage (if applicable).

Does the commercial hire purchase calculator guarantee my loan repayments?

No, the commercial hire purchase calculator will only provide you with a repayment amount based on the loan information you provide. It is up to the individual lender to decide what your actual loan and repayments will be.

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