CM Financial

EXTENDED VEHICLE WARRANTIES (EVW)               – Save you self the burden of unwanted repair bills

Jon Clark-Monks CM Financial 28/12/2009

After a house purchase, usually the next biggest purchase is a motor vehicle. So why don’t people protect their cars like they protect their $2000 flat screen TV with an extended warranty?

If you have a car that cost you $25000, wouldn’t you want to protect it and yourself of any nasty breakdowns or repairs?

Are you keeping your new car? Is the vehicle coming to the end of the manufacturer’s warranty? Securing an EVW coverage before your vehicles manufacturer’s warranty runs out means that you’re covered for the mechanical and/or electrical failure of thousands of parts – repairs to which generally cost from a few hundred dollars to thousands without cover.

You can also take out warranties on vehicles that are older, or out of manufacturers cover or warranty very easily to protect yourself and your wallet against the burden of large repair bills and high labour charges.

An EVW gives you the chance to extend your original manufacturer’s warranty for an additional period of time.

There are a range of extended warranty products for different prices, all with different conditions and inclusions. Ideally, your extended warranty coverage should cover a wide range of your vehicle’s components for mechanical and electrical failure.

Tip: Download the FULL PDS to see what cover would apply to your car or contact one of CM Financials Consultants.

How do they work?

A good quality extended warranty is your personal insurance against the high cost of potential future repairs and labour charges.

EVW can be arranged at the time of the purchase or when you arrange your car’s finance and/or insurance cover, or at any stage while the manufacturer’s warranty is still valid. Your extended warranty begins when your manufacturer’s warranty ends.

As vehicles become increasingly complex, with sophisticated computer-assisted driving aids. On board computers, high-performance engineering and costly replacement parts, repairs are also less simple. Labour hours quickly add up. Save yourself the stress and save yourself money with a CM Financial EVW

What are the benefits of an Extended Warranty?

A good quality EVW cover offers a number of benefits

• Protect your Investment – know that your vehicle is protected for a wide range of mechanical and electrical faults.
• Peace of mind –Don’t Stress and protect yourself for the future, keep those hard earned dollars in YOUR pocket.
• Choice of Cover – Pay for the policy that is right for you – it’s your choice.
• Payment flexibility – Upfront payments, Credit Card, Direct Credit or Pay Per Month options are available
• Win-win if you decide to sell –Transfer the warranty over to the new owner – You can advertise your PRIVATE sale vehicle with a warranty. What a Great Sales Tool.

How CM Financial can help you

CM Financial has all the products and knowledge you need to take the guesswork out of EVW coverage. CM Financial have warranty cover that’s designed to suit your driving needs.

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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A Chattel Mortgage, through CM Financial is used to finance goods for more than 50% business use. As the customer, you take ownership of the goods upon delivery, with the loan secured by the funder registering a charge over the goods, this is often called and encumbrance

Who can benefit from Chattel Mortgages?

• Anyone wishing to finance the purchase of goods for business purposes this includes businesses, companies, partnerships and sole traders operating in Australia.
• You can purchase commercial vehicles including cars, vans, trucks, bikes, caravans, plant and machinery, and other business equipment.

Chattel Mortgage Key Features

• You hold the title to the goods.
• 100% finance can be provided – Subject to approval by the lenders
• Repayment schedules are flexible and can be structured to suit your needs. 12-84 months
• Balloon payments at the end of the term can be arranged.
• A Chattel Mortgage may provide tax benefits if the financed goods are used to produce assessable income.
• A business which collects GST on a cash based can in turn claim an Input Tax Credit for the GST of the purchase price of the chattel mortgage on the business’s next Business Activities Statement.
• In Australia, most of the states require stamp duty to be paid on the repayments of the chattel mortgage.
• The term of the Chattel Mortgage is flexible and can be negotiated, subject to our approval from 12-84 months.

Chattel Mortgage Benefits

• You own the goods from the beginning of the chattel mortgage contract.
• You can obtain the goods for a minimal capital outlay.
• You can match repayments to seasonal cash flow.
• You can pay lower instalments during the term of the contract and make a balloon payment at the end of the term.
• You may be able to make use of taxation benefits if the goods are used to generate taxable income.

Chattel Mortgage Fees and Charges

• Establishment fee are payable with no applicable GST.
• If you require a cash booklet, additional charges apply.
• An ASIC http://www.asic.gov.au/asic/asic.nsf fee is applicable for companies (varies between states).

Chattel Mortgage Repayment Schedules

Repayments can be made

• Fortnightly
• Monthly
• Yearly
• Quarterly
• Semi Annually
• Seasonal/Irregular

Other CM Financial Loan Products related to Commercial or Business Finance

• Hire Purchase
• Finance Lease
• Novated Lease

CM Financial Insurance should be consider as a safe guard

CM Financial can insure you and our purchase against the unexpected.

• Choose insurance
• Full comprehensive insurance
• Shortfall or Gap cover insurance

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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As an employee of a company, you lease a car through CM Financial using a Finance Lease. You then sub-lease the car to your employer via an operating lease. Your employer enters an agreement, which makes it responsible for meeting the payments. This is the ideal arrangement for those who have the option of receiving a car as part of their salary package.

For further information on the tax implications of Novated Lease visit the Australian Tax Office: novated lease.

Who can benefit from Novated Car Lease?

• CM Financial offer all Business and corporate professionals who require a flexible leasing package whereby the Employer pays all lease rentals to us and the Employee enjoys full use of the vehicle. A great solution for those who use their vehicle for work purposes and are on salary packaging or a similar arrangement with their employer.

Novated Car Lease – The Basic Features

• The lease is taken out in your name, your employer signs a novation agreement taking on repayment responsibilities.
• The vehicle can be purchased without capital outlay.
• In the event you change companies the vehicle remains yours.
• Your employer pays the lease rentals directly to us.
• The employer can provide the employee with a car without having to reflect it on its balance sheet
• You have complete choice what you buy and where from.

Novated Car Lease Benefits

• You have the use of the vehicle without having to budget for the repayments.
• You can purchase the vehicle without deposit or the hassle of being reimbursed from your employer.
• If you leave your current company, the company is not left with an unwanted car and you’re not left without a wanted car.
• There are numerous tax benefits to the employer as with the Finance lease.

Novated Car Lease Interest Rates

• Interest rate is fixed throughout the term of the loan.

Other CM Financial Loan Products related to Commercial or Business Finance

• Hire Purchase
• Chattel Mortgage
• Finance Lease

CM Financial Insurance should be consider as a safe guard

CM Financial can insure you and our purchase against the unexpected.

• Choose insurance
• Full comprehensive insurance
• Shortfall or Gap cover insurance

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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CM Financial has the latest information and news related to car loans and car financing programs with good and bad credit, poor credit or bankruptcy. CM Financial also has the Latest news and articles relating to Car Finance, Car Loans and General Finance in Australia to help you in getting more information on car loans and the car financing industry.

Getting Low Rate Car Finance and Car Loans

Low rate car finance and car loans are offered all over the net so that while shopping or surfing the internet for a suitable deal you can search for the right sort of product for you. However at CM Financial, we take the stress and effort out of your search for Car Finance and Car Loans, to provide you with access to ALL of Australia’s leading lenders, finding the right product for you and offering you expert and up to date advice.

There are so many different types of finance available to you from a Secured Consumer loan, Unsecured Personal loan, Chattel Mortgage, Commercial Hire Purchase, Finance Lease and Novated Lease, and so many different guidelines for each funder that CM Financial make the job easy. You can even apply online for Pre approval and CM Financial can even help you with your Car Search to find the best priced vehicle and Car loan and Car Finance

However, getting low car finance means that a lot of things have to be professionally assessed before any transactions are made.

QUICK POINTERS FOR A LOWER RATE

When applying for Low Rate Car Finance the Lenders will require extra information so the following list of tips and documents will help you obtaining the best car loan or car finance possible with the assistance of CM Financial.

• A Trade car or Cash deposit often helps with a Lower rate as the risk to the lender is reduced.
• Stable Full time employment – 12 months or more
• Stable Residential address – Home owner or long term renter at the same place
• Supplying Income, ID and references up front

There are several reasons that can affect the interest rates applied to a car loan or car finance, such as a poor credit scores.

If your credit scores is poor, that means that your interest rates are bound to be higher, but when your credit scores are good your interest rates will be low.

Credit Files through CM Financial can be obtained FREE at http://www.mycreditfile.com.au/personal/mcf/my-credit-file-standard.dot

To read more information about credit scores and what can affect your credit file, read CM Financials news letter on Credit Scoring – Your Credit File

When looking for the right kind of deal to fit your financial description, you should remember that all aspects of the purchase should be looked at in total and given thorough scrutiny. You should always ask about the aftermarket service your Finance Broker offers. It is also important to make sure that all parts of the vehicle to be purchased are in order. Finally, the car purchaser should acquire a car loan that he or she can be able to pay comfortably and satisfactorily on his or her car of choice. CM Financial not only offer car loans and car finance, but also Car Search and Insurance services to ensure the easiest and cheapest purchase you will ever make.

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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WHAT HAPPENS IF YOU DON’T PAY YOUR BILLS OR HAVE A DISPUTE OVER A PAYMENT?

In this day and age of ever tightening credit guidelines, what is the importance of managing and being aware of what your credit file is, and the effects of disputes with lenders, phone companies and energy suppliers can have on your future credit worthiness. In this article we will explore the views of consumers and lenders and the effect that unpaid bills can have.

Well, looking from a lenders perspective and that of a consumer can be worlds apart.

The lender would look at an unpaid default, for example, $150 from a Telco or energy supplier as damaging to your current credit worthiness, and this in effect can seriously alter your ability to obtain finance. When any funder looks at an application submitted, they take many thinks into account such as home ownership, length of time in a job, previous loan repayment history but many of the top line lenders will not approve any client with an outstanding default, even if it is for a small amount.

Any clients, who have defaults listed from major lenders, will struggle to obtain finance in the current market place. The lenders take the view,

“If they haven’t paid their current lender back or have a slow and out of order account, why would we risk lending money?”

It can take years to build up a good credit history and can take only one unpaid bill to put you right back at the start.

A consumer may look a t a bill they are in dispute with a company over as a strong matter of principal and refuse to pay, even if legally obliged to. Every time you don’t pay a bill, ignore the reminders and the red letters you are risking your future credit worthiness.

Eventually, unpaid bills will be listed on your credit file as an outstanding default. This is not a good situation at all for the individual. That unpaid listed default will affect your credit for 5 – 7 years and the outstanding debt is often sold on to a debt collection agency after 4 years, then is re listed on your credit file.

If you have issues with a bill you receive, the amounts are wrong, you think you have been over charged or the bill is simply incorrect, the easiest thing to do is ignore and forget about it. DONT. Call the company and resolve the issue as soon as possible, as in the long run, it’s not the company you are arguing with that suffers. . . . It’s you.

Individuals who constantly don’t pay phone bills, energy bills and loans back, find that they are in a position that no lenders, banks or financial institutions will lend money under any circumstances, so remember, what you do now really does affect your future.

In summary, as an individual, pay your bills on time, if you have a dispute resolve it as soon as possible before any outstanding amounts  are listed on your credit file. Remember that the lenders hold sway over what you can and can’t achieve with credit, so don’t damage yourself, protect your credit file make obtaining credit in the future easy.

• CM Financial offer all businesses wishing to finance the purchase of motor vehicles and trucks, industrial plant and equipment, earthmoving equipment, business and professional equipment.

Hire Purchase Key Features

• Repayment schedules are flexible.
• An Offer to Hire can be arranged with no deposit or an amount that suits you.
• Balloon payments at the end of the term can be arranged.

• The funder owns the goods until the final payment is made, at which point you gain full ownership.

• The interest component of the rental and depreciation on the equipment are tax deductible, provided it is used to produce assessable income or the expense is necessarily incurred in carrying on a business.
• You can repay the contract before the term ends.

Hire Purchase Benefits

• Repayment schedules can be structured to suit your cash flow.
• You can obtain the use of goods for minimal cash outlay, so working capital is not significantly affected.
• You may be able to make use of the taxation benefits of hiring.
• Flexible repayments allow for accurate capital budgeting.

Hire Purchase Interest Rates

• The interest rate depends on the amount being financed and the security of the applicant. It is fixed throughout the term of the loan.
• An establishment fee applies, with no applicable GST.
• Break costs may apply in some states

Hire Purchase Repayment Schedules

Repayments can be made

• Fortnightly
• Monthly
• Yearly
• Quarterly
• Semi Annually
• Seasonal/Irregular

Other CM Financial Loan Products related to Commercial or Business Finance

• Chattel Mortgage
• Finance Lease
• Novated Lease

CM Financial Insurance should be consider as a safe guard

CM Financial can insure you and our purchase against the unexpected.

• Choose insurance
• Full comprehensive insurance
• Shortfall or Gap cover insurance

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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Are ready to buy a new or used car? Then it’s time to be thinking about car loans and your car financing options and CM Financial has the solution for you.

CM Financial provides online financing services for new or used car loans and car finance through a panel of Australia’s leading lenders.

We have carefully selected lenders who specialize in Bad Credit Car Loans If you’ve had trouble getting approved in the past due to bad credit, poor credit, bankruptcy, repossession, no credit or low credit score; CM Financial has a finance solution that will fit your needs.

Why wait any longer? Just complete the online application or you can request a call back, and one of CM Financials highly trained consultants will call to discuss your car loan and car financing needs.

QUICK POINTERS

When applying for 2^nd Chance Car Finance the Lenders will require extra information so the following list of tips and documents will help you obtaining the best car loan or car finance possible with the assistance of CM Financial.

• Cash Deposit or Trade Vehicle helps reduce risk to the lenders
• 3 months bank statements for ALL your accounts – This is so the funder can see you keep your accounts in order, without going over drawn etc
• Tenants Ledger – From your Rental Agent, showing prompt and up to date payment of your weekly rent
• Mortgage statement – From your bank showing prompt and up to date payment of your weekly mortgage.
• Proof of Address – 2 Utility bills showing current home address for verification
• Clear copy of Drivers License – Front and Back showing current home address
• Full disclosure of any previous credit issues – Bankruptcy, defaults etc. See the CM Financials News letter on Credit Scoring

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

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Who can Benefit from a Finance Lease?

• At CM Financial, any firm, partnership, company and professional or business people who want to acquire plant-equipment, motor vehicles, or similar goods used in the production of assessable income.

Finance Lease Key Features

• Can obtain equipment without any capital outlay.
• the terms of the lease are flexible, but they are subject to ATO (http://www.ato.gov.au/) guidelines (maximum term 60 months).
• The residual value of the leased goods is established in accordance with a schedule issued by the Commissioner of Taxation.
• Lease rentals are usually tax-deductible, if the leased goods are used to produce assessable income.

Finance Lease Benefits

• With no initial outlay required, you can use your working capital for other purposes.
• You have the option to select the length of the lease term and the timing of repayments to suit your cash flow
• CM Financial can negotiate rentals and residual values within an approved range, allowing more flexibility in budgeting.
• You can utilise this product to finance their outlay of recently purchased equipment.
• You may be able to make use of taxation benefits.

Finance Lease Interest Rates

• Interest rate is fixed throughout the term of the loan.

Finance Lease Fees and Charges

• An establishment fee is payable and includes GST.
• Fees cannot be financed and must be paid by cheque at the time of signing the documents.
• Monthly rentals payments may be subject to GST.
• Pre-determination fees may apply
• Repayment schedules

When the Finance Lease expires, there are some alternatives available to you:

• Refinance the residual value.
• Payout the contract in full.
• Make an offer to purchase the equipment, which may be accepted by the funder.

Other CM Financial Loan Products related to Commercial or Business Finance

• Hire Purchase
• Chattel Mortgage
• Novated Lease

CM Financial Insurance should be consider as a safe guard

CM Financial can insure you and our purchase against the unexpected.

• Choose insurance
• Full comprehensive insurance
• Shortfall or Gap cover insurance

Contact an expert at CM Financial today on 1300 922 177 or email info@cmfinancial.com.au

Back to CM Financial News Articles Directory

Here you can view all the useful news articles we will be updating as we go along. I hope you find some of the information here useful.