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Finance Lease

A Finance agreement over 2-5 years where the asset is owned by the finance company and the lessee has use of the vehicle for a stated period of time in return for a series of payments to the funder. At the end of the term the funder gives the lessee the option to purchase the asset for a final payment (residual value, value set as per ATO guidelines). Monthly payments may be tax deductible if business use is applicable as per ATO guidelines.


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