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Financing Motor Vehicles - What are the options?

One of the most common decisions facing business is how to finance and account for the acquisition of a motor vehicle. There are numerous ways of doing so, with each resulting in differing accounting, taxation and GST treatment.


Options

How should you go about purchasing a vehicle? While it may seem a relatively straightforward question, there are numerous ways of doing so. Some of the more common methods are:

  • Outright Purchase

  • Lease

  • Hire Purchase, or

  • Chattel Mortgage


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