Nissan Credit

Nissan Credit

Nissan Credit Conditional Purchase (also referred to as Hire Purchase) is one of the most popular methods of vehicle finance. It provides an easy and effective way of spreading the cost of purchasing your vehicle. You pay an initial deposit, followed by monthly payments over an agreed term (generally between 12 and 60 months). Interest rates are fixed at the beginning of the contract period. At the end of that period you become the owner of the vehicle.

Nissan Credit is extremely flexible. For instance Nissan Finance can vary both the initial deposit and the contract length to suit your own needs. For business purchasers whose income is subject to seasonal fluctuation, Nissan Finance can often structure the repayments to accommodate such fluctuations. Similarly monthly payments can be significantly reduced by incorporating a balloon payment into the repayment scheme. This is generally a final payment based on the expected residual value of your vehicle (its worth at the end of the agreement) and in effect defers part of the cost until then. With Nissan Credit even your balloon payment is flexible. At the end of the contract you can:

  • Refinance the amount outstanding over a further term
  • Purchase another vehicle and use the equity from your trade-in to settle the amount outstanding
  • Settle the amount outstanding in full

By spreading the cost of the vehicle purchase, Nissan Credit allows both private and business purchasers the freedom to release capital for other uses. The monthly payments offer the advantage of greater budgetary control and are not subject to GST. The Nissan Credit contract can be terminated early with the purchaser being entitled to a statutory rebate of interest as prescribed by section 23 of the Hire Purchase Act 1971.

Available on:

  • New Nissan vehicles and approved used vehicles

Suitable for:

  • Private and Business purchasers

Key benefits:

  • Ownership of the vehicle on the completion of the contract
  • Eases cash flow and releases capital for other uses
  • Fixed interest structure allows you to budget and plan more accurately
  • Flexibility to negotiate the initial deposit, contract term and monthly instalment plan
  • Leaves other lines of credit undisturbed

Particular benefit to business users:

  • The vehicle is shown as an asset in the financial accounts
  • Interest charges are allowable against assessable income
  • Depreciation allowances can be claimed against assessable income
  • If you are GST registered, the GST content of the vehicle purchase price can be reclaimed at the commencement of the contract
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