Services Offered by Selfco Leasing
Selfco offers a wide range of finance products such as commercial hire purchases, chattel mortgages, finance leases and rentals and many others.
In a chattel mortgage, a financer gives money to a customer to purchase a vehicle. First, the customer takes ownership of the vehicle. After this, the financier takes a mortgage on the vehicle as a security of the loan given by him by registering their interest over the PPSR. Finally, after the contract is completed, the customer gets the full vehicle ownership, and the security interest is removed.
Commercial hire purchase
On the other hand, commercial hire purchase is also known as corporate hire purchase. In a commercial hire purchase arrangement, the financer decides to purchase a car on behalf of a customer, but then higher is back to them for a stipulated period. The car's ownership remains with the financier and the customer only has the right to use the card for the contract term. After the end of the contract term, the customer takes full ownership of the car. However, before taking full ownership, the customer needs to repay the total price of the vehicle after subtracting any residual amount along with interest charges.
Selfco leasing also provides equipment rentals. Equipment rental is an agreement between a customer and a financer where the financier purchases the equipment and is the equipment owner. However, he didn't win the apartment to the customer for a certain period. The customer makes fixed monthly payments to the financier in the form of rentals, and after the end of the contract, the customer gets full ownership of the property along with the title. However, the customer also has the option to continue the rental or renew it after the contract ends.
Finance lease or normal lease
A finance lease is a commercial finance product that helps the customer use a car while the financer retails its ownership. Initially, the financier purchases the vehicle on behalf of the customer and leaders it back to the customer for a certain period. After that, the customer needs to pay monthly instalments or, rather, releases throughout the time of the lease. At the end of the lease term, the customer can either pay the residual value and take full ownership of the car or can decide to ref finance the residual and continue the lease.
This company is a Fast Doc Lender. The definition of this term means that the customer does not always need to provide financial documents. The company uses another number of alternative sources of information to determine the client's creditworthiness. The credit decisions taken by SelfCo Leasing are very fast, and the settlement of loans can be completed within two or three days. This company also provides a program called Fast Doc Program. This program enables the company to provide fast loans to credit-worthy people. The company's fast and efficient services have helped it retain its position in the Australian market.