Commercial Hire Purchase (CHP)


Commercial hire purchase explained | Glynn Finance

What is a Commercial Hire Purchase

What is a "Commercial Hire Purchase"?

A Commercial Hire Purchase (CHP) is a commercial car finance product.

Under a Commercial Hire Purchase a finance company purchases a car or vehicle on behalf of the customer, and then gives the customer use and posession of the car ("hires") in return for regular payments.

Once the final payment has been made and any residual (balloon) value paid, the customer takes posession of the vehicle ("purchase").

Alternatively, the customer can choose to "trade in" the vehicle, or re-finance the residual value.


Benefits of a commercial hire purchase

Let us advise you on Commercial Hire Purchase

Let us advise you

Commercial Hire Purchase

If you are a business or individual who is looking to use a vehicle for business purposes, then a Commercial Hire Purchase (CHP) may be best suited to you.

The customer only actually owns the vehicle, after it is purchased off the lender and at the completion of the term of finance.

Benefits of a commercial hire purchase

How can it benefit you


  • No deposit vehicle finance;

  • Interest and depreciation may be tax deductable;

  • Cash repayments are spread over time, keeping your cash reserves for more effective use;

  • One fixed monthly payment – protects you against interest rate changes and allows for more accurate budget forecasting;

  • Option to use the trade-in values of previous vehicle to build equity in your new car;

  • Ownership is automatically transferred at the end of the agreement;

  • You can make a balloon to adjust monthly payments to suit your business’ cash flow.


Finance & Mortgage Broker Centres

Glynn Finance business centres are located across New South Wales and Victoria


Edgecliff (Eastern Suburbs)


Community Home Loans Australia Partners

Our Lenders

Glynn Finance has access to a panel of over 25 lenders, including the big four banks. Our online mortgage calculator provides a mortgage repayment estimate based on loan amount, indicative interest rates, loan term and structure. The tool also lets you compare the rates and features of various loans.

For a more precise estimate of your borrowing capacity, contact a Glynn Finance mortgage specialist today.


*Important Information

The home loans compared on this page are chosen from a range of home loans Glynn Finance has access to. It is not representative of all of the products available in the market. Not all loans and lenders are available in all states. You may not be eligible for all or any of the loans displayed. The rates do not constitute an offer of credit or a quote. There are many factors that will determine your eligibility for a home loan, and a Glynn Finance mortgage brokers or performance and compliance coach can assist in explaining the criteria and evaluating your personal circumstances to find the right home loan for you. Please note that this calculation does not take into account payment of lender's mortgage insurance (LMI) which may be payable depending on the amount you wish to borrow compared to the value of the security property. LMI costs can be significant therefore you should ask if you require further information.
The information provided on this website is general in nature and for guidance purposes only. The product information provided is not a fully comprehensive statement of the relevant product's attributes. We endeavour to ensure that the product details and information provided are as accurate and up to date as possible but is subject to change and we recommend speaking to a Glynn Finance mortgage broker or performance and compliance coach to confirm. You are responsible for the final choice of any product that you may choose.

The information contained on this page and comparison rates are for secured home loan products of the lenders as shown, based on a loan amount of $150,000 and a term of 25 years.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Credit criteria, fees and charges apply.