Don’t Fear Interest Rate Increases

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Interest Rate Increases. This is a popular talking point!

A popular talking point at the moment is the constant interest rate increases from lenders over the past 6 months, we want to show and explain why businesses who obtain equipment finance shouldn’t fear interest rate rises and shift their focus from rate to weekly payment and compare to the income your equipment will generate per week?! 

Check out the example of a new prime mover and the comparison between each interest rate increase and weekly payments.

Based on the example, the average weekly increase is c.$33 and the largest increase from 5% – 10% was only $165 per week. If your new prime mover earns c.$4,000 per week, this only represents a c.4% of the potential revenue that could be generated. You can’t control interest increases, you can control the how many hours your prime mover needs to work to make up the difference.

The lesson here, don’t let interest rate increases affect your business growth, slow down and call either your Accountant or Equipment Finance Expert on 1800 334 345 today!

Chevron Finance proudly supports those across Brisbane, Melbourne, Sydney, Perth and wider Australia with reliable machinery finance solutions, founded on flexibility and transparency. With over 20 years of experience in the field, we are backed by the expertise and insights that allow us to provide best-in-class, tailored solutions to our valuable clients. Chevron Equipment Finance was established to provide a more personalised service to meet the needs of growing small and medium businesses that have been under-serviced by their bankers for years. We pride ourselves in acting with a sense of urgency in everything we do and our can do culture ensures service and results we can be proud of. https://chevronfinance.com