Goods Loan
A goods loan is the most popular type of business vehicle and equipment finance. With a goods loan, you source the vehicle and your business owns the vehicle from the beginning of the loan term without tying up valuable working capital. The loan is generally secured against the vehicle and your business can usually claim the interest on payments and depreciation if the vehicle is used to produce income.
Fees
| Fee | Type | Amount |
|---|---|---|
| Establishment Fee - EF Charged to cover the costs of originating your Goods Loan, Hire Purchase or Lease and payable by you on or before the settlement date. | Upfront | $500.00 |
| Asset Inspection Fee Applies where we, or one of our agents is required to inspect the Equipment being financed. This fee is payable on or before the settlement date. Note: Sometimes we may require an agent to inspect the goods on our behalf - where this amount differs we will advise you via the Details. | Upfront | $150.00 |
| Legal Fees for Complex Documentation Where we require external Lawyers to document some or all of your contract documentation, we will advise you of this fee before proceeding. It will be payable on or before the settlement date | Upfront | Variable |
| Early Termination Fee Applicable when you terminate your Goods Loan, Lease or Hire Purchase early and is charged at an amount equivalent to three monthly payments. We work this out by adding up the total repayments, dividing this by the number of months in the term and multiplying this by 3. | Exit | Variable |
| Break Costs Refer to your Goods Loan, Lease or Hire Purchase Details and the Auto & Equipment Finance General Terms you were provided with for an overview of how this fee is calculated. Break costs are not a fixed amount and are determined by a number of factors specific to your product. |
Features
- Flexible repayment terms are available for the product
- With Goods loan you source and own the asset and we provide a loan secured by the asset.
- With Respect to ownership you own the asset and we hold it as security.
- Potential tax benefits : Interest on the finance and depreciation of the asset are generally both tax deductible
Eligibility
- Business customersYour business has a valid Australian Business Number (ABN) and is registered for GST.
- Business customersThe equipment is mainly used for business purposes
Constraints
- Minimum limit — $15,000.00
- Minimum term of 1 year and Maximum term of 7 years
More Information
Published by Bank of Melbourne under the Consumer Data Right · Last updated 25 May 2026 · Product ID BOMEFGoodsLoan · View on CDR.gov.au