As the end of 2020 approaches, before you slip on the sunscreen and relax into festive mode, it could be worth checking out what deals are available on work vehicles to make that last minute business investment. The IAWO and temporary full expensing measures coupled with the November RBA rate cut, have presented businesses with very attractive circumstances to invest in new vehicles.
Despite issues around freight delays and impacts, many car manufacturers still release new vehicles into the Australian market and after all the lockdowns etc., dealers will no doubt be keen to move stock with their end of year clearances.
At Jade, we stay across the motor vehicle market and have done a quick check of deals and offers from some of the most popular manufacturers for you to use as a guide. (This information is correct at the time of preparing this article. Any prices quoted here will be subject to the usual dealer charges etc) To see how the general prices quoted may translate to repayments, just head to our business car loan calculator.
Ute Offer Roundup
- Mazda BT-50 launched to rave reviews in 2020 and with or without any special offers, is worth checking out. Available in cab chassis and pick-up models with several variants. Use our calculator to see how stepping up to the next level may impact your Jade car loan.
- Toyota HiLux continually places in the top selling utes year after year and Toyota is currently advertising an offer on the 4x2 WorkMate petrol, manual model. A driveaway price of under $28,000 is advertised.
- In the business stakes, check out the Mitsubishi Triton and the Express Van range. No special offer pricing was found on the Triton, but this tough vehicle is sure to reward in spades when working in your business. Especially with a cheap Jade car loan.
- We showcased the LDV work vehicles in one of our articles and they could be worth adding to your Christmas ‘possible’ list. Offers are being advertised on the LDV T60 4x4 diesel auto.
- Isuzu D-Max has been launched and widely accepted by those seeking a tough workhorse for many applications. An under $60,000 driveaway price is advertised but with a disclaimer regarding possible delays with delivery due to demand. This could be the ideal reason to organise pre-arranged finance with Jade Car Loans to secure your D-Max now.
- The Ford Ranger is a perennial favourite and while many buyers will be wanting the top of the range Raptor, it appears to be offered on some Ranger XLS. Could be worth requesting a finance quote from us on several models to decide which way to go.
- The Nissan Navara is the ideal work-to-play vehicle. A real weekend warrior who pre-delivers with solid Monday through Friday performance. With a 24/7 vehicle, you’re amortising costs over a better period than a 5 day work vehicle only. Just saying!
- Volkswagen should not be overlooked in the search for the perfect ute for your business. Volkswagen is offering deals across the range which expire on 31 December 2020. Get in fast – make a call to Jade before you head to the dealership so you have your finances happening ASAP.
Work Ute Finance Deals
The talk in business car loan-related opportunities since March 2020 has been Instant Asset Write-Off (IAWO). Introduced as a COVID-19 stimulus measure and extended and expanded since IAWO offers eligible business vehicle buyers an incentive to invest in new vehicles. For those not eligible for IAWO, temporary full expensing also offers benefits to some buyers.
The scenario was further enhanced with the RBA rate cut in November. Jade Car Loans continues to support businesses with cost-effective motor business car finance rates. Accredited with multiple lenders, we can source the best deals from a vast section of the motor car finance sector.
While we offer a complete portfolio of commercial finance facilities, the most suited for those looking to realise the tax benefits of IAWO is Chattel Mortgage.
Chattel Mortgage features include:-
- The Borrower takes ownership of the vehicle from the time of purchase and the lender has a mortgage over the vehicle.
- Borrower has full use of the vehicle and is responsible for all ongoing expenses.
- Jade sources finance at better interest rates which are fixed for the full loan term.
- Loan terms are negotiable for up to 5 years for most businesses and vehicles. Subject to lender guidelines.
- Fixed repayments
- GST on the vehicle purchase can be claimed on the next BAS statement.
- Tax benefit is realised with depreciation in line with ATO guidelines. If eligible for IAWO the full amount of eligible vehicles can be written off in the 2020/21 financial year. For full expensing, the deadline is out to June 2022.
- Interest on repayments is tax deductible.
Use our calculator to compare possible deals and repayments that Jade Car Loans can offer across the utes you’re considering. We can provide fast approvals and prompt settlement to assist you in having your ute sorted by your preferred deadline.
For a finance quote on an EOY ute deal, contact Jade Car Loans at 1300 000 003 to discuss a quote.
DISCLAIMER: THE INFORMATION, OPINIONS, DATA, POLICIES, PRODUCT SPECIFICATIONS AND OTHER CONTENT CONTAINED AND EXPRESSED IN THIS ARTICLE HAS BEEN OBTAINED THROUGH RECOGNISED REPUTABLE SOURCES, PRIMARILY IN THE PUBLIC DOMAIN. LIABILITY IS NOT ACCEPTED FOR ANY ERRORS OR MISINTERPRETATION OF SAID CONTENT. THIS CONTENT IS NOT INTENDED OR PROVIDED AS THE SOLE SOURCE OF INFORMATION OR AS SPECIFIC FINANCIAL ADVICE IN REGARD TO MAKING DECISIONS BY INDIVIDUALS OR BUSINESSES. THOSE THAT CONSIDER THAT THEY NEED PROFESSIONAL ADVICE SHOULD REFER TO A FINANCIAL ADVISOR.