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Hire purchase
Need business equipment or a vehicle now but want to spread the cost? With our hire purchase option, you can source the equipment or vehicle you need today, pay over time, and own the asset once all payments are made.
It’s a great way to upgrade your business assets while keeping your cash flow intact!
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How does a hire purchase work?
We purchase the asset
Apply for your hire purchase and once approved, ANZ will arrange to purchase your asset.
Hire it from us
Your business then hires the asset from ANZ, paying regular instalments over the agreed term.
Take ownership
Once the final payment is made at the end of the hire purchase, the asset is all yours to keep.
No extra security required
The new equipment or vehicle acts as security for your hire purchase. Personal guarantees may also be required from Company Directors.
Flexible terms
Choose from 1-7 year term and repayments to suit your business ups and downs.
Interest rate is fixed for the term
A fixed rate cashflow certainty, but fixed rates may not suit everyone.*
*Early repayment fees and charges, which may be significant, may apply if you make early or additional repayments or repay early.
Is my business eligible for a hire purchase?
To check if your business is eligible for a hire purchase, please ensure:
- You are an Australian citizen or permanent resident
- You are 18+ years of age
- You have a current ABN number
- You are a sole trader, partner, or director of the business entity
- You are financing an asset mostly for business use
Hire purchase
Our pricing is crafted to suit your business needs. Get a quote for your hire purchase to see indicative interest rates, fees and repayments that apply to your business.
Minimum hire purchase amount | $7,500 |
|---|---|
Monthly admin fee | $0* * Applies to new contracts only |
Loan terms available | 1 year to 7 years |
An Establishment fee applies to all asset finance applications. See Fees and charges for further details. Terms and conditions available on application. All applications for credit are subject to ANZ's normal credit approval criteria.
Check you're eligible for a hire purchase.
Book an appointment to speak with a business banking specialist.
Speak with our specialist who will guide you through the process of applying for an ANZ hire purchase.
Once we have all documents and if approved, we’ll provide you with the loan documents. Once they are signed and returned, we'll pay the vendor and you can collect your asset.
Upgrade to energy efficient at a discount
Looking to save on energy-efficient upgrades? ANZ, in partnership with the Clean Energy Finance Corporation (CEFC), offers discounted rates on approved assets like solar panels, wind turbines, and more. It's a great way to invest in a greener future while saving money!
Interest rates
0.80% p.a. discount on your standard asset finance rate.
Features and benefits
- Reduces the interest rate on eligible equipment finance options by 0.80% p.a.
- An ANZ business banking specialist will work with you to confirm asset eligibility.
Book a phone appointment
Book a phone appointment with an ANZ business banking specialist at a time that suits you.
A banker can help you with:
- All asset finance types
- Financing for most vehicle and equipment types
- Rapid replacements options
- Energy efficient asset eligibility
- Quotes valid for 7 days
Call us
Want to discuss new or existing ANZ business banking or need help with general enquiries?
Mon-Fri 8am to 6pm (AEST)
Accessible banking
Our aim is to make ANZ products and services more accessible and inclusive.
Financial hardship
If you’re experiencing vulnerability or having trouble making repayments on your loan or credit card, get in touch and together we can work on a plan to get you back on track.
Interest rates are current as at and are subject to change.
Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you.
ANZ recommends you read the applicable Terms and Conditions and the ANZ Financial Services Guide (PDF) before acquiring the product.
This is general information only and does not constitute tax advice. We recommend you obtain independent advice from a financial planner and registered tax agent if you are considering whether this product is right for you.
Products are available to approved applicants for business purposes only. Asset must be used for business purposes only, minimum amount $7,500. All applications for credit are subject to ANZ's normal credit approval criteria. Terms and conditions available on application. Fees and charges apply.