When it comes to getting the equipment you need for your business operations, particularly as a tradie or contractor, flexible finance options are hard to come by. GoGetta is a leading finance provider for many industries, from construction and heavy transport, to agriculture and vans, utes and cars for business use. Striving to provide affordable and efficient options, GoGetta’s non-traditional finance options has helped many businesses increase trade and keep up with customer demand.
Financing your equipment with GoGetta is easy with five simple steps:
1. Choose your equipment
GoGetta partners with a large network of equipment brokerages nationally; from Bundaberg to Bendigo, Perth to Port Augusta, to help you find the perfect equipment solution for you.
2. Apply for finance
We know securing finance can sometimes be a tricky hurdle for business owners, which is why we developed a low risk equipment funding solution that’s flexible and affordable.
3. Start your 12 month contract
Our Rent.Grow.Own® agreement is a minimum 12 months, giving you total control and flexibility in your business, so you can diversify your offering, trial new equipment and preserve your working capital.
4. Get your equipment
We pride ourselves on our quick response times, so you can secure the equipment and funding you need quickly.
5. Pay your weekly rental
Our flexible and affordable funding solutions are off balance sheet and 100% tax deductible*, making it easy to budget for.
How does GoGetta compare with other finance options available?
Other finance options generally come with balloon or residual payments, no upfront flexibility and limited tax deductibility* due to the terms of a finance lease and a four year plus term.
There are early exit fees and restrictions on when you can payout your equipment; generally it’s only a two-week window every year. You can easily get trapped into these terms if you don’t read the fine print very carefully.
By offering a transparent rental option at GoGetta, we understand that it can take up to a year to evaluate your equipment needs. At the end of the 12 month term, you have many flexible options available to you, so you can choose what is best for you and your business.
What are my options after I’ve been renting my equipment for 12 months?
This is one of our most popular options for customers because it has many benefits and puts you on track to owning equipment that works well for your business. This is often the route for many construction and transport companies, as the equipment is generally high value and high return. Without digging into your cash flow or capital, you can chip away at the cost. At the end of the 36 month plan, you can feel confident knowing you own the equipment outright and any outstanding security bond is refunded to you.
There are many advantages to this solution. Enjoy a 30% reduction in your weekly payments on a 100% tax deductible* operating lease. The GoGetta difference also means there are no balloon payments at the end of term. The only restriction is that you can’t return the equipment.
2. Continue renting – 12 month recommitment
If your equipment is working fine, but you think you may want to change down the track or aren’t sure the equipment is suitable for your business, another solution is to keep renting. There are two options in this case – a 12 month recommitment with a loyalty discount, or go week by week with the existing option until you are ready to make a change.
The 20% loyalty discount is suitable for those who know they will want the same equipment, but want the flexibility and security of an additional 12 months without committing to a three year plan. This option means the equipment remains as a rental, but the cost is reduced and you are able to return after the additional 12 months.
3. Continue renting – week to week
Continuing with renting on a weekly basis is ideal for those who may want to change or return equipment, but are still making this decision. It is recommended for those who do not know what they want to do, but know they will make a change in less than a year’s time. There are no changes made to your agreement, and you just roll over week to week.
4. Purchase equipment outright
If you decide you want to keep your equipment and don’t want to commit to a three year plan, another option is to purchase any piece of equipment outright. This option is perfect for those where cash flow is not an issue in their business.
For example, if you run a construction business and the equipment is still suitable for your business after the first year, you may have enough capital to make the investment of owning. This is a great option and will allow you to purchase the items with a significant rebate. However, this option does have fewer benefits than the Go.Own.Plus plan and payment is required in one lot. This is not as popular of an option, but it can have some advantages depending on your businesses current status.
5. Return unused equipment
Unlike other funding options on the market, GoGetta allows you to return equipment after the short 12 month agreement. Don’t get stuck paying for unsuitable equipment for your business!
Remember, when you get to the end of your contract, you should be assessing the needs of the business and how your assets are working to grow your business so you can decide what works and what doesn’t. You can use any of the above solutions for different assets to mix and match to suit your needs. Each asset is considered on an individual basis, so don’t feel like you have to commit to all or nothing!
The Loyalty Team will contact you near the end of your contract to discuss your options. However, feel free to get in touch with us directly if you have any questions. Now is the perfect time to discuss your options and find the best solution for you.
*GoGetta does not provide legal, tax or accounting advice. Please seek professional advice from a qualified person.