How to select the right commercial finance expert

When choosing the right commercial finance expert in Perth for arranging car loans for your business, you will be faced with many companies all vying for your attention and it is difficult sometimes to know where to begin. Traditionally, as a business, approaching the bank for an extended overdraft or business loan has been the way forward, but in today’s competitive market, you might be better off going with another financial option. There are a few important pointers to remember prior to making your decision, but it all starts with asking yourself a few questions and then carrying out a little research and homework.

First of all, check out a few of the professional finance associations based in and around Perth, talk to them about any of their members who specialise in car finance. This is always a good starting point as professional associations have a set code of conduct for members to follow, and anyone who is a member will also have a good network of contacts. When you are ready to sign up for the right commercial loan, your finance expert will have a network of industry insiders at their fingertips and you can find that you are put in touch with the right people quicker, than if you tried to go it alone.

Secondly, look around at different car finance packages available, ring up a few commercial finance companies and ask for some initial information. Any reputable and professional firm will provide what you need to know for starters without trying to strong-arm you into a meeting or get your personal details from you. Then you can shop around and check out what is on offer, before booking to see someone in person. Usually this initial consultation is free, so if it isn’t then move on to the next person on your list.

Thirdly, is the car loan for you or one of your employees, are you an Australian resident or here on a 457 visa, because this will affect whether a company will offer you a loan or not. The right commercial finance advisor should tell you about all the finance plans available to you which includes a novated lease and invoice finance, if this is going to be suitable for your business. A novated lease is an agreement between the employer, employee and the car finance provider. Basically the employer gives up part of the employee’s pre-tax salary thus making up for the value of the vehicle, then makes payments on behalf of their staff member. If you are looking to offer an enhanced salary package then this form of loan may be suitable for you.

Fourthly, because many commercial firms are looking for your business, many will be prepared to negotiate, so check this out when you are looking around for a commercial finance expert, and also just because there isn’t an off the shelf package that will suit your company, see if the commercial finance experts are prepared to negotiate bespoke car loans and finance.

Finally, review their complaints procedures and refund policies, and ask around to see if you can get any personal feedback on the quality of their work. If they are prepared to listen to what you need, and they maintain regular contact without a hard sell approach as well as the points listed above, then you will have found yourself the right person.


For further information or help in commercial finance, Finance 48 will have all the information and the right personnel to assist on a commercial finance enquiry.