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What is sale and lease back?
This is an option which allows you to inject cash into your business by selling your vehicle to a lease company and then leasing that vehicle back from the company.
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Can I purchase the lease vehicle at the end of the lease?
You may be able to negotiate to purchase the lease vehicle after the lease has expired. However, this cannot be arranged at the start of the lease.
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Can I get loan approval before I have found the boat that I want?
Yes - we know that some people like to know how much they can borrow before they go shopping for a boat. You apply for the loan as normal and we'll be in contact with you to explain our lending decision and approval conditions so you can feel more confident in your boat purchase negotiations.
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What is the security for my boat and leisure loan?
The security will be the boat or other asset you’ve purchased, although we may ask for additional security or a guarantor.
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Is invoice finance right for my business?
Invoice finance is now a popular alternative to bank overdraft funding as it's less restrictive. It grows in line with your sales and is not linked to the value of your personal property.
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How does AA Finance's invoice finance work? What are the six steps?
Step 1 - You deliver the goods or services and invoice your customers as normal.
Step 2 - You send us details of your invoices and credit notes electronically using Virtual Ledger Manager®.
Step 3 - You check your available funds on a secure internet site and transfer what you need (up to 80% now and the rest when your customers pay).
Step 4 - We deposit the funds you've requested overnight into your bank account and you make your payments as usual, for example, suppliers, wages and rent.
Step 5 - You send out statements and collect all the debts as usual.
Step 6 - When your customers pay, the deposits go straight into your AA Finance invoice finance trust account. We email you a statement each day so you can update your records.
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What's the difference between invoice finance and factoring?
Invoice finance is completely confidential, your debtors and creditors never know that AA Finance is involved.
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What is the security for my business's loan?
If the loan is for plant or equipment, the security will be the asset you've purchased, although we may ask for additional security or a guarantor, depending on our credit assessment of your business.
If the loan is for business expansion or acquisition, the security will be the assets of the business.
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What is a guarantor? (Plant, equipment and business loan)
A guarantor is someone who agrees to pay the loan if the business doesn't keep up the payments.
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What is the address for posted applications, cancellations etc?
The freepost address is:
AA Smartfuel Limited
PO Box 5,
Auckland 1140