Residual Refinance is a finance option that will be offered to hirers by lending institutions once the initial term of the finance contract has fallen due.For example once the term of equal monthly repayments have been paid in full and on time,the lending institution will contact the hirer in writing and will offer three repayment options on how to finalise the repayment of the residual value/balloon repayment that has fallen due.These three options are,
a) Client to pay out the residual value with their own funds & own goods outright.
b) If trading in the goods,the residual value amount to be deducted from the
trade in allowance.
b) REFINANCE THE RESIDUAL VALUE/BALLOON REPAYMENT
• Cash flow preservation
• Monthly budgeting of repayments
• A continuation of a tax benefit on refinanced goods
• 25 years experience in automotive & equipment finance
• Full & Low Doc options available
• Streamlined application process
• Quick settlements
• Refinancing Australia wide