SGE Financial Services (SGEFS) are experts in car loans, and equipment finance.

Our team of finance professionals can walk you through your new car loan and used car loan options and help you decide which type of car finance best suits your needs.

Whether you are looking for a car loan, car lease, corporate hire purchase, finance lease, operating lease or chattel mortgage, SGEFS can help. We also provide finance for business equipment, including IT equipment, manufacturing equipment and agricultural machinery.

SGEFS are experts in the salary packaging of a novated lease. Our years of experience in providing novated leases for private and public sector employees puts us in a unique position in the market. We can offer you independent feedback about which salary packaging and car leasing solution is best for your individual needs.

SGEFS operates a car buying service which will help you access fantastic fleet discounts to help you save money on your next car purchase. Our auto search program will also help locate a used car for you.

In a 5 minute phone consultation, SGEFS will do a needs analysis with you to determine how best to use your salary package, car allowance or vehicle budget to get the right car finance product for you.

SGEFS can also prepare a fleet management program for your fleet – whether it is for one car or one hundred cars, SGEFS can help. We offer you the flexibility of a fleet management budget and a fuel card to manage your vehicle expenses. With one monthly deduction, all of your car finance and running expenses are taken care of for you.

Please use our car finance and car loan calculator if you wish to know what your car loan repayments would be.

Let SGEFS, the car loans, salary packaging and equipment leasing specialists, show you how to save time and money on your next car finance and equipment finance requirement.

SGE Financial Services (SGEFS) are experts in car loans, and equipment finance.

Our team of finance professionals can walk you through your new car loan and used car loan options and help you decide which type of car finance best suits your needs.

Whether you are looking for a car loan, car lease, corporate hire purchase, finance lease, operating lease or chattel mortgage, SGEFS can help. We also provide finance for business equipment, including IT equipment, manufacturing equipment and agricultural machinery.

SGEFS are experts in the salary packaging of a novated lease. Our years of experience in providing novated leases for private and public sector employees puts us in a unique position in the market. We can offer you independent feedback about which salary packaging and car leasing solution is best for your individual needs.

SGEFS operates a car buying service which will help you access fantastic fleet discounts to help you save money on your next car purchase. Our auto search program will also help locate a used car for you.

In a 5 minute phone consultation, SGEFS will do a needs analysis with you to determine how best to use your salary package, car allowance or vehicle budget to get the right car finance product for you.

SGEFS can also prepare a fleet management program for your fleet – whether it is for one car or one hundred cars, SGEFS can help. We offer you the flexibility of a fleet management budget and a fuel card to manage your vehicle expenses. With one monthly deduction, all of your car finance and running expenses are taken care of for you.

Please use our car finance and car loan calculator if you wish to know what your car loan repayments would be.

Let SGEFS, the car loans, salary packaging and equipment leasing specialists, show you how to save time and money on your next car finance and equipment finance requirement.

SGE Financial Services (SGEFS) has been established to offer a variety of vehicle finance options outside standard personal loans.

SGEFS has access to a range of financiers to identify the best finance solution for your needs.

SGEFS is a subsidiary of SGE Credit Union. The company was formed to offer a broad range of motor vehicle finance products that aren't traditionally offered by credit unions.

SGEFS staffs have extensive experience in the fleet management, salary packaging and motor vehicle finance industries. SGEFS will tailor a motor vehicle finance solution to suit your needs. SGEFS can also source your car, quote insurance and provide advice on salary packaging.

SGEFS has access to a range of financiers to identify the best finance solution for your needs.

You do not have to be a member of SGE Credit Union to access SGE Financial Services’ products.

SGE Financial Services is happy to announce that we are associated to Platinum Direct Finance.

Having commenced business in 1990 as Melbourne Finance Broking, Platinum Direct Finance Pty Ltd is considered to be the largest independent finance broking firm in Australia. They have access to over 30 major finance institutions that include car finance products with no establishment fees, no ongoing fees and importantly no payout penalties.

The Company has grown rapidly and offers financial services for motor vehicles, marine, plant and equipment, office and factory fit outs. Their volume of business has increased to over $ 500 million per annum.

This now means SGE Financial Services can now offer the best finance products in Australia, along with great rates due to the large volume buying power of Platinum Direct.

So if you are in the market for finance, give an experienced finance consultant a call on 1300 733 990

“SGE Financial Services Pty Ltd ABN 67 115 276 447 (“SGE Financial Services”) is a subsidiary of SGE Credit Union Limited ABN 72 087 650 637 (“SGE Credit Union”). SGE Financial Services is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). The obligations of SGE Financial Services do not represent deposits or other liabilities of SGECU and SGECU does not in any way guarantee or otherwise provide assurance in respect of the obligations of SGE Financial Services”.

Whether you are an individual, an employee, a business professional or a small business owner, SGEFS can assist with all of your finance needs.

If you’re unsure whether leasing or financing your car will best suit your needs, in this section, we’ve outlined some of the benefits of each.

Here are some of the issues to consider when deciding to finance your motor vehicle:

• If you like to keep your vehicle for many years, financing might be a better option for you.
• Tax advantage in most cases
• In financing you are building equity towards ownership.
• Include operating costs (fuel, servicing, etc)

Some of the reasons to consider leasing include:

• Finance available on the total purchase price.
• There is little or no down payment required with leasing.
• GST credits available.
• Leasing provides a low cost way to drive a new vehicle.
• Include operating costs (fuel, servicing, etc).
• You pay for only the use of the vehicle, not the ownership. Tax advantages may apply if the vehicle is used for business purposes.
• A lower monthly payment means more disposable income is available for other purposes.
• You enjoy the flexibility of structuring the lease to fit your lifestyle.
• You can have a greater selection of vehicles.
• If you enjoy driving a new vehicle every few years with new vehicle warranty protection, then you should consider leasing.

* Please consult your tax adviser on all matters to determine how you would be affected. SGEFS is not a tax adviser or consultant and does not offer tax advice.

The concept of novated leasing is central to salary packaging arrangements between an employee and an employer. Under a salary packaging arrangement, an employee agrees to forego a portion of their salary or wages in return for vehicle benefits equal to that amount.

A Novated Lease is a three-way agreement between the Financier, the Employee and the Employer. The Employee leases the vehicle directly from Financier, the Employer agrees to make all payments via a Novated Deed through the Employee's salary packaging.

A fully maintained Novated Lease is an agreement where all of the operating costs (such as lease rental, servicing and maintenance, registration, tyres and insurance) of the motor vehicle are covered by a single monthly payment made by the lessee.

Under a Non-Maintained Novated Lease the lessee is responsible for all maintenance and other running costs of the motor vehicle.

Employee's benefits:

• Allows employee to salary package
• Choice of vehicles
• Choice of terms 12- 60 months
• Enables use of their pre-tax income for vehicle lease and operating expense
• Option to purchase vehicle at end of lease

Employer's benefits:

• Fleet is off the balance sheet
• Increased borrowing ratio
• No vehicle liability if employee leaves
• Taxation benefits on tax deductible expenses
• Value added incentive for employee retention

Novated lease and running costs of the motor vehicle, and fringe benefits tax (if applicable) are deducted from the employee's pre-tax salary, and PAYG is calculated on the reduced salary or wages.

The tax benefit of a novated lease arises from the concessional fringe benefits tax treatment on the vehicle. Depending on the employee's individual financial circumstances, salary packaging a motor vehicle under a novated lease can have the effect of increasing an employee's net disposal income.

Leasing is a sensible approach for any business or individual if the Vehicle is used predominantly for business purposes. A Finance Lease gives you immediate use of the Vehicle without having to arrange a large deposit. Rentals are fixed for the term of the lease, providing security for your financial planning. For added flexibility at the end of the term you have the option to refinance, sell or purchase the Vehicle for the residual value.

Consider these benefits:

• Where the Vehicle is used for business purposes, the lease rental will be tax deductible, the extent of the tax deductibility will depend on the percentage of business use.
• Lease payment is made from pre-tax income.
• Fixed lease payments make budgeting easier.
• Monthly payments are based on the original cost less the residual value of the Vehicle.
• Terms are from 12 months to 60 months to meet your individual requirements.
• No or little capital outlay.

This option provides several advantages, particularly for public companies, schools and government bodies. An operating lease is a type of lease in which the financier retains ownership of the leased equipment. Under an operating lease there is no predetermined "residual" value to pay as ownership does not automatically pass to the customer at the end of the term.

Operating leases are not listed on the company's balance sheet. Being "off balance sheet" is considered a major advantage over finance leases, particularly for public companies, which may have borrowing restrictions.

By not having to list the operating lease on the balance sheet the company's debt to equity ratios are not adversely affected by using the equipment for a set period of time.

For high technology equipment, which usually becomes obsolete over the term of the lease, the risk of ownership is removed as the customer can hand back the equipment and upgrade.

Under the operating lease/rental option, the customer has more flexibility at the end of the term, as they may:

• hand back the equipment and upgrade
• continue to rent the equipment
• offer to purchase the equipment at fair market value

Chattel Mortgage is a sensible approach for any business or individual that needs to either upgrade or acquire a new or used Vehicle. This is a fixed loan that provides for the purchase of an Vehicle in exchange for a series of payments. The Vehicle is used for security.

Flexibility is an attractive feature of a chattel mortgage. You can choose to finance the total purchase price, use a deposit or trade-in or add a final lump sum balloon payment to reduce the loan repayments. You can even use the GST refund to contribute towards paying off the loan, thereby reducing the amount financed and the interest paid over the term of the loan.

By choosing a chattel mortgage, you become owner of the Vehicle while the financier secures a charge over the Vehicle. As you are the owner you may claim a tax deduction for the depreciation on the Vehicle as well as the interest component of the loan repayments

Consider these benefits:

• Minimum capital outlay
• Title is always with client
• Repayments are flexible
• Balloon payments available
• The repayments are exempt from GST
• Flexible terms from 12 months to 60 months to match your individual requirements

You can finance any new or used vehicle, plant and equipment of reasonable age and condition. The amount financed can also include your on-road charges and Insurance.

Commercial Hire Purchase is a sensible approach for any business or individual that needs to either upgrade or acquire a new or used Vehicle. Regular payments are made over the term you choose. Full ownership of the Vehicle is transferred to you when all the payments have been made.

Flexibility is an attractive feature of Commercial Hire Purchase. You can choose to finance the total purchase price, use a deposit or trade-in or add a final lump sum balloon payment to reduce the loan repayments.

Under a Commercial Hire Purchase agreement you do not become owner of the Vehicle until all monies owed under the agreement are paid. However, you can still claim a tax deduction for the depreciation on the Vehicle as well as the interest component of the loan repayments where the Vehicle is used for business related purposes. In addition, GST is not payable on the Commercial Hire Purchase repayments.

Consider these benefits:

• The repayments are fixed over the term of the Commercial Hire Purchase
• You can structure the repayments with or without a balloon
• Minimum capital outlay
• Repayments are flexible
• The repayments are exempt from GST
• Flexible terms from 12 months to 60 months to match your individual requirements

You can finance any Vehicle new or used vehicle, plant and equipment of reasonable age and condition. The amount financed can also include your on-road charges and Insurance.

If you are happy to proceed with SGE Financial Services, or you may have some questions, the first steps are to organise your quotes and finance pre-approval. Simply, this is done over the telephone taking as little as ten minutes, or alternatively we have supplied links on this website to send your enquiry directly to us.

Once we have established the best finance solution, and you want to proceed, the standard finance process usually follows:

• Application
• Vehicle procurement / sourcing / ordering
• Documentation preparation
• Settlement
• Vehicle Delivery

To give yourself the best chance of getting finance approval, we recommend that you deal with one finance company at a time to avoid unnecessary hits on your credit file. Our quotes and pre- approval service is obligation free and you are not committed to us in any way until you decide to proceed.

A Consumer Loan is designed for individuals who want to use their car mainly for private purposes, and for whom private ownership is important, SGE Financial Services offers loans with or without balloon payments.

By utilising a balloon value you can reduce your payments considerably and improve your cash flow.

You can structure the monthly installments to suit individual budgetary requirements. By opting to place a deposit, or by nominating a final lump sum payment at the end of the finance term, you can conveniently decrease your monthly repayments, giving you greater security when managing your budget and planning your financial commitments.

Ownership is transferred to you as soon as the first payment is made, in exchange for security over the vehicle. This is discharged upon payment of the final installment.

You may also be given the opportunity to re-finance your final lump sum payment at the end of the contract term

Below are some answers to commonly asked questions about financing and insuring your car.

If you have a question not answered here, please send us an e-mail via our Contact Us facility which can be accessed from the link at the top of each page.

Does SGEFS finance and insure used vehicles?

We finance new, demonstrator and used vehicles up to eight years old, all of which are subject to our finance and insurance terms and conditions.

How much can I borrow?

Subject to satisfying our normal credit criteria, we will advance up to the full amount of the motor vehicle being purchased.

In certain circumstances such as a loan or a commercial hire-purchase agreement, you may be required to contribute some deposit. We recommend a deposit to help reduce interest charges and monthly instalments.

SGEFS may also finance the cost of loan insurance and comprehensive motor vehicle insurance.

Are there any application costs, monthly charges?

Consumer/personal loans and business loans are without monthly or ongoing fees. An application fee may apply, depending on the finance product selected. This fee can be financed or paid separately. No fee will be charged if your application is not approved.

Business loans (Asset/Hire-Purchase or Finance Lease) do have compulsory monthly government charges eg stamp duty or GST. These will form part of your monthly repayments. The fees vary for each state in accordance with state tax laws.

For both personal and business loans there are also costs involved with the set up and establishment of your loan. These may include further Government charges such as stamp duty. If you select to have a fuel card as part of your finance, monthly fees will apply.

What information do I need to provide for a SGEFS application?

You will need to provide proof of identity and proof of your ability to repay the loan, such as a current pay advice or group certificate. Other information generally asked for at the credit application stage include details such as housing (ownership or rental), employment history, references and credit history.

You will also need to complete a privacy declaration.

Business clients generally supply current financial statements prepared by their accountant or financial advisers.

What is a 'Privacy Declaration'?

Credit Reference agencies around Australia act as repositories for credit data for anyone who has taken credit in the past. Access to this information is protected by strict Privacy Laws that are in force. The privacy declaration gives us your permission to search the credit data under your name and file your previous credit history. Of course we are legally bound not to divulge this information to anyone else without your consent or otherwise in accordance with law. We use the information only to help assess your application.

How long does it take to get approved?

Approval is usually within 2 hours. Once approved the original finance documents must be signed and the supplier will be paid directly usually within 1 day.

When do I make my first payment?

The first repayment will be due 30 days after settlement of your loan. Business finance applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account.

Extra payments of any amount can be made at any time by cheque, cash, direct deposit and BPAY® where applicable (some fees may apply).

How can I reduce my monthly payments?

You can reduce your monthly payments if you opt to include a final balloon payment or lump sum in your contract.

Can I pay my contract out early?

You can pay out your finance contract before the completion of the finance or lease term, however for Consumer Sale by Instalments contracts there is an early termination fee. There is no early termination fee on our Asset/Hire-Purchase or Finance Lease products.

What happens if I can't make a payment?

Please contact SGEFS immediately (1300 733 990) and explain the situation to one of our Customer Support Officers. They will be able to advise what can be done to assist you. Depending upon the circumstances, we may be able to reschedule your payments or even re-write the contract over a different period of time.

What is a residual?

A residual is the lump sum or final balloon payment owed at the end of the term and can be used to reduce monthly payments. With a lease, the residual value is the estimated value of the car at the end of the lease period.

Can I get pre approval before purchasing?

Yes, providing you can tell us what type of car you're intending to purchase. SGEFS needs to assess the total amount of finance against the current market value of the vehicle. We must also approve your supplier. For further details, please contact us on 1300 733 990.

What type of people take novated leases?

Almost any one can take a novated lease - provided their employer agrees to the arrangement. Any ordinary salary earner can benefit from the concessions a fully maintained novated lease delivers.

Not only people on high salaries! Savings in purchase price, GST on both the vehicle and the running fees are available to all employees!

Sensible planning at the outset, will deliver an optimum balance of income tax and FBT. In nearly every case there is a significant benefit to virtually any salary earner.

What cars are available?

Any car, new or used can be financed under our novated lease agreements. Special consideration apply to aged and classic cars. Novated leasing is all about personal choice and we work hard to ensure your choice is achieved at the best value possible.

How much will I have to pay each month?

Quotes are easily generated once we have a clear understanding of your needs - appropriate term (number of months to be used) and the kilometres to be travelled. We calculate all the costs including FBT, then tailor the term and residual to best match your circumstances.

What's covered by the lease payment?

The lease payment covers the finance elements of both principal and interest. The residual or payout, is made at end of term as a "one off" or balloon payment.

Where a driver takes a fully maintained option, our budgeted fleet management option establishes total estimated running costs for the term of the lease, then calculates this figure into monthly payments. As costs are incurred these are applied to the budgetted amounts. Any unused amount in the budget at end of term is refunded to the driver. Likewise, over runs in expense are billed to the driver.

In every case, SGEFS budgeted fleet management sees our users only paying actual cost.

The finance cost and the running costs can be added together so you make only one monthly payment for all the costs of leasing and running your car.

Are there any costs not covered?

Yes! Unfair wear and tear and other non-operating charges such as damage etc cannot be predicted and therefore not budgeted for.

How long is the period of lease?

The term can be structured for 12, 24, 36, 48 or 60 months, covering operating use from 10,000klms per annum up to 40,000klms per annum. Best value will come from structuring the term to suit the usage. i.e Where a user demands high kilometre usage, better overall value generally accrues under a short-term lease. The reverse is also often true.

What happens at the end of the lease term?

You have the option of either buying the car at the payout value, or alternatively, trading the vehicle in on a new car. You may choose to buy that vehicle and pass it onto a family member and then take another vehicle. The choice remains with the user.

What are the terms and conditions?

Terms and conditions are set out in the finance agreement.

What can go wrong?

Very little! Novated leases can be changed between employers if you change your job. They can be paid out anytime (although early termination fees can apply) We spend time on each and every enquiry to ensure the best solution is reached. There's no substitute for good planning!

What should I do first?

Call SGEFS on 1300 733 990 and talk through your situation. We can quickly assess the benefits that will accrue to you.