Car Finance that pays off down the road

Solutions for Doctors, Dentists, Vets and Allied Health Professionals

Car finance structured to make tax time smoother 

Lease, novated Lease, chattel mortgage, balloon payments, car value and so much more can make a big difference when it comes to making sure your car is more than the drive of a lifetime. Here at MedX Finance, our specialists will work with you to structure a solution to suit you in the short and long term.  

Product Detail

Car Finance made easy. No matter where you are in your car purchasing journey, MedX Finance can support you in getting finance approval that sets you up to purchase the vehicle and make the most of it come tax time.  We can even introduce you to independent vehicle brokers who can save you time and money in the purchase process.  

We will work with you, or your accountant to make sure we consider the best approach and then we negotiate with the right lenders to secure you a market-leading rate. 

Whether it’s for work, family, sensible or supercar we will help make finance the easy bit 

Car Finance Benefits

  • Chattel Mortgage is a very common business product for individuals and companies/trusts with an ABN where ownership rests with the client, who then claims the business use component of the following costs: interest on the money borrowed, depreciation and other running costs.

    Lease: Ownership rests with the lender. Therefore the tax claim becomes the monthly repayment itself, comprising the principal and interest (not depreciation).

    Novated Lease: There are three parties to a novated lease, being the lender, the individual, and the individuals employer. The loan is between the lender and the individual, and a separate ‘novation agreement’ allows the employer to make the repayments for the employee from their pre tax salary. The responsibility for the loan and the residual rests with the individual (not their employer).

    Personal Loan: A simple loan catering for individuals where no ABN is required.

  • A car broker works in the same way as a mortgage broker who looks for the lowest interest rates, though a car broker’s job is to help you buy a car for the best possible price.

    The car broker acts as the middleman between the car seller and buyer, and the service becomes especially handy (and is best known for) when looking for a unique or rare car.

    MedX Finance has access to a range of car brokers depending on the car you are looking for. This can not only save you money, but also potentially reduce waiting times to make sure you get the vehicle you want, when you need it

  • Generally the decision to contribute a deposit to the purchase and reduce the amount borrowed rests with the client.

    While 100% financing is most common, some clients will want to contribute a deposit upfront, thereby reducing monthly repayments and interest cost.

  • Our strong relationships with lenders flow through to you, our clients in the form of discounted rates and priority service across all product ranges. Speak with our specialists to see how much you can save.

  • Finance is easily arranged by MedX Finance for new and demo cars purchased through LMCT dealerships or vehicle brokers.

    Funding for used cars is also available whether the purchase is from a dealership or private sale. Some lenders have guidelines specific to the age of the vehicle at the end of term of the loan, so it pays to speak to a Med X Finance specialist prior to committing to the purchase.

    We also often find our connections with vehicle brokers allow clients considering a demo model to sometimes source a new vehicle at lower cost than demo.

Customer Feedback

  • Dr Frank Barbagallo, GP

    Trevor Knowles has supported my debt funding needs since I first started my medical businesses our relationship now being in its 20th year. From financing a medical office fit-out, extensive IT equipment, car finance or mortgage lending ( residential, investment and commercial), Trevor has arranged it all. My projects with Trevor included the refinance of complex Family Trust and SMSF structures, fund a medical clinic building development and expensive medical capital equipment installations.

  • Dr Daniel Massih, Dentist

    I’m really grateful for the services provided by Michael and Rachael over the years. Friendly and professional, and easy to reach out to. I know I am in great hands dealing with Medx Finance and have recommended them to all my colleagues

  • Dr Eugene Ng, Radiologist

    Michael knows his stuff! He is friendly, reliable, very obliging and always answers calls promptly. The people whom I have referred on to Michael have all had positive experiences and are very happy with his service, knowledge and integrity.

  • Girish Basavaraj, Dentist

    I have had the pleasure of knowing Todd O'Reilly for over 15 years, and I can confidently say that he is the go-to person for all your financial needs. Whether it's personal loans, business loans, car loans, or SMSF loans, Todd is the expert you can trust

  • Dr Vivien Lee, Assistant Surgeon

    Michael has been assisting me with my banking needs since 2005. He is an outstanding professional - efficient, thorough, obliging, discreet and most importantly ethical. He explains industry specific jargon in simple but practical terms, and at the same time treating customers with respect. He consistently delivers despite tight timelines outside his control

  • Dr Sam Snelling, Veterinary Specialist Surgeon

    Without doubt, our business only exists today because of Trevor's effort to understand how our profession operates. Since our initial fitout, Trevor has helped grow our practiceand finance several major upgrades in equipment, as well as organising our family lending. For everysingle investment our business or family makes, the first call is always to Trevor.

  • Professor Mark Umstad, Obstetrician and Gynaecologist

    Trevor Knowles has been known to me professionally for over 15 years. I have found him to be professional, efficient and approachable at all times. He can be trusted to handle medical finance issues with honesty and integrity. He has an understanding that medical professionals are busy individuals and he manages to provide a professional service in a timely manner.

  • Dr Wendy Marshman, Ophthalmologist

    I have had the privilege of knowing Trevor for nearly 20 years . He has helped me procure finance for both my business and personal purchases and in all areas and transactions he has been honest, insightful and extremely helpful . All interactions have made me feel that he is personally committed to achieving the best outcome for myself, thus making the whole process virtually stress free. I could not recommend Trevor more highly.

  • Dr Joe Juric, Dentist

    Trevor has been assisting me in the financing of my dental practice now for over 10 years. During this time he has shown an understanding of the various financial needs of a practice in its different stages of growth. In my direct dealings with him and also those of my financial team, he has been responsive, diligent, innovative, efficient, and a pleasure to do business with.

  • Assoc Prof Richard Vojlay, Optometrist

    I have had the pleasure of being associated with Trevor for more than 20 years. Over that period he has assisted in arranging finance for two consulting room fit outs, including a retinal camera, Topcon OCT, 2 slit lamp cameras, a Medmont topographer and 3 vehicles. More recently guided me through the financing for a complete refit of the practice including an extra consulting room and dispensary. This required a significant loan and Trevor was able to structure the facility to minimise any cash flow issues. I highly recommend his services.

  • Dr P Lattouf, Dentist

    When searching for loan you need someone you can trust. Michael and his team are second to none. Honest, Prompt and Professional. For 15 years there has NEVER been a breakdown in communication nor a refusal for a loan application. He has made all processes very smooth and I couldn’t be happier to recommend his services to anyone

FAQs

  • Requirement for a deposit with car financing depends on the lender, your credit profile, the type of car finance sought, and sometimes the car's value. Here's a breakdown:

    Standard Car Loans: Generally the decision to contribute a deposit to the purchase and reduce the amount borrowed rests with the client. While 100% financing is most common, some clients will want to contribute a deposit upfront, thereby reducing monthly repayments and interest cost. Our specialists at MEdX finance will work with you and our lending pool to find the right solution for your current situation.

    Leasing: Technically the amount financed under a lease is 100% of the pre gst cost of the goods. A deposit is technically not allowed with a lease, however a contribution of a larger sum is possible as an ‘upfront lease repayment’. There are limitations as to the size of the upfront lease payment which can be explained by your MedX Finance consultant. GST also comes into play with car leases.

    New vs. Used Cars: The requirement for a deposit can sometimes differ based on whether you are purchasing a new or used vehicle but there is no hard-and-fast rule and our specialists will work through this with you.

  • Lenders will require you to have the vehicle insured from the delivery date and ongoing, with the aim that the insurance cover will be sufficient to pay out the loan in the event of theft or write off and subsequent insurance claim.

  • Car Finance for dentists and Car finance for doctors can bring some benefits that a worth looking into.

    Whether to buy a car outright or finance it is a personal decision that should be based on your current financial situation, future goals, and personal preferences. Consulting with a specialised broker like MedX Finance can provide insights and solutions custom made for your unique situation.

  • Yes, the team of specialists at MedX finance can arrange pre-approval for your vehicle purchase so you can shop and negotiate with certainty.

  • There are generally maximum balloon amounts based as a percentage of the amount financed or original value of the vehicle for specific loan terms, however the most important consideration is to ensure you don’t owe more than the vehicles value at the end of the loan term (often referred to as negative equity).

Our Solutions

  • Practice Finance

    Starting, buying, or purchasing a share in a practice are all potential pathways to fulfilling ambitions. However, they all have unique financial nuances that warrant specialist advice to take full advantage of the opportunity. MedX Finance will work with you to make sure securing finance does not hinder your momentum but rather compliments your ambition.

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  • Home Loans

    Fixed Rate, Variable, Offsets, Redraw, Investments, Cash Backs, discounts, tax effective…there's a lot to get right to make home loans work for you. But with decades of experience and a customer first approach we will find the solution that's right for you.

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  • Equipment Finance

    Balancing clinical outcomes and growth ambitions with ROI and commercial metrics can feel like a hard call. MedX Finance will work with you to make it simpler. We’ll ask the right questions of you, the equipment provider and the lenders to make sure we deliver the right financial solution so everybody wins.

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  • Commercial Loans

    Multiple loan structures, strict underwriting criteria and risk assessments can make finding and securing the right commercial loan complex. Our specialists will help navigate the complexity and ensure a solve for your specific needs.

    Learn More