Ram Finance
Welcome to Ram Finance
At Ram Finance we are committed to providing you with a comprehensive and highly competitive range of vehicle finance solutions. Ram Finance's solutions are designed to provide flexibility, ease and peace of mind. So from the start of your journey with us, you'll remain firmly and comfortably in the driver's seat of the financial arrangement you choose for your vehicle. The expertise and professionalism of our team of specialist Business Managers across the authorised dealer network will ensure that the process of financing your new vehicle will be every bit as pleasurable as driving it. Best of all, choosing from one of the following Ram Finance products will be one of the simplest financing decisions you'll ever make.
Consumer (Sale by Instalments) Loan
Our Consumer Sale by Instalments loan is the ideal choice when your vehicle is predominately for personal or domestic use. It offers the convenience and flexibility of our individual affordability assessments which are easy and fast. You can also finance on-road costs such as registration and stamp duty. You benefit from:
- A personally tailored loan with a choice of term 1-7 years
- Fixed regular repayments at a competitive interest rate for the agreed term of the loan - protecting you from repayment increases in a changing interest rate environment
- Convenient and flexible payment options that allow you to make extra payments, thereby enabling you to reduce interest costs and shorten the loan term
- Option to include a final balloon payment to reduce your monthly commitments
- Finance for all brands of vehicles
Commercial Loans
Ram Finance offers business solutions specifically designed for sole traders, partnerships, and companies, which allow for flexible payments to suit your business and cash flow requirements. We understand that as your business changes, so do your financing requirements, so our fully accredited dealer Business Managers will endeavour to assist you in structuring an individual solution that matches your specific business requirements. Business customers can choose from our Asset Loan, Asset/Hire Purchase or our Finance Lease products.
Asset Loans
An Asset Loan agreement is a commercial loan designed to provide flexibility for people in business while the vehicle remains an asset of the business. A Ram Finance Asset Loan gives you the security of knowing the vehicle is an asset of your business - even while you are paying it off. It offers the certainty of a fixed interest rate, over a choice of loan terms from one to five years. You can also choose to make your repayments monthly or more frequently if you choose. You can also reduce your repayments by including a balloon final payment at the end of the term - freeing up your business cash flow. Plus you can finance options including on-road costs, extended warranty, insurance and roadside assistance as part of your finance package. Asset Loans are applicable to vehicles which are specifically and predominantly used for business and can provide:
- Input Tax Credit to GST registered businesses in relation to the GST on the vehicle purchase price
- Asset Loan interest charges as well as vehicle depreciation as potential tax deductions
- Ability to reduce the amount financed through trade in and/or cash deposit options
- A Highly competitive fixed rate for the term of the loan
Asset / Hire Purchase
The Asset/Hire Purchase option delays the transfer of the full legal ownership of the vehicle until the end of the Asset/Hire Purchase term, whilst providing immediate benefits, normally only available if the vehicle is owned by the business. Asset/Hire Purchase agreements provide registered businesses with the certainty of a fixed interest rate over terms of up to 5 years and offer the flexibility of reduced monthly payments by including a final "balloon" payment at the end of the term. Other options such as on-road costs, extended warranty, insurances and roadside assistance can also be included for convenience, peace of mind, and improved cashflow. Asset/Hire Purchase customers will also benefit from the ability to claim GST Input Tax Credits and be able to offset vehicle depreciation, Asset/Hire Purchase interest charges, as well as vehicle running costs against your assessable income.
Finance Lease
This is a popular finance option for business customers to lease a business vehicle and free-up valuable capital for other business purposes. The residual value is agreed and set at the beginning of the term, giving you the following end-of-term options:
- Extend the lease for a further agreed time
- Trade the vehicle in on a new vehicle
- Make an offer to purchase the vehicle from us for the residual payout amount
A Finance Lease from Ram Finance provides:
- Financing for vehicles, new and used
- Finance for all brands and types of vehicles, including on-road costs
- No deposit is required or allowed, but an optional large "up-front" rental can be structured
- Minimum term of 12 months and a maximum term of 60 months.
- Vehicle must be used predominantly for business or revenue/income generation
- Financial flexibility enabling you to choose and structure the payment terms
- Ability to free up working capital for the business
You should check with your accountant or financial adviser to determine how a Finance Lease can best suit your business needs.
Novated Lease
Novated Leases are Finance Leases for salaried employees who use their vehicle predominantly for work as a "tool of trade" (e.g. Sales/Service representatives). They are three-way agreements between the finance company (Lessor), the employee (Lessee) and the employer. A Ram Finance Novated Lease is a Finance Lease between the employee and Ram Finance which is subject to a "Novation Deed" which allows the employer to make the monthly lease payments for the employee (often on a pre-income tax basis). This is an attractive alternative for employers who would otherwise need to provide a company car as well as an attractive option for employees who are able to choose the type and make of their vehicle. If the employee changes their employer, the payment obligation automatically reverts to the employee; allowing the employee to possibly "re-novate" with the new employer. You should check with your accountant or financial adviser to determine how a Novated Lease can best suit your needs.