Macquarie Leasing has just announced that their “No Financials” replacement policy has been expanded to now include the following equipment types for loan amounts up to $100,000:

• Passenger Cars, Utilities and Vans
• Yellow Goods – Excavators, Bulldozers, Bobcats etc
• Forklifts
• Commercial Vehicles & Trucks (Excluding Prime Movers)
• Trailers

Commercial clients replacing an existing loan with one of the above asset types will NOT be required to supply financial statements if the following conditions are satisfied:

• The new loan amount does not exceed 120% of the original loan amount for the contract being replaced OR the new proposed monthly payment does not exceed 120% of the monthly payment on the contract being replaced

• The existing finance contract has been established for a minimum of 18 months and the reference obtained is satisfactory to Macquarie Leasing

• Veda/CRAA reports on borrower and/or guarantor are satisfactory to Macquarie

• Goods supplied via recognised supplier OR via Private Sale ( subject to full private sale conditions, fees etc )

If the above criteria are not satisfied then full financials will be required for the application.

The Contract to be replaced may be current or recently paid out (within the last 6 months) and held either with Macquarie Leasing or any other financier/lender.

This is great news for any businesses looking at update cars or other equipment.

Further information is available.

• Did you know that Macquarie have a new consumer loan product?
• Lease a car with no financials?
• Expanded Finance Options through Gold Coast Mortgage Broker

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