# Car Loans - Cheap Car Finance From 6.94%* | JADE > Generated by All in One SEO Pro v5.0.2, this is an llms-full.txt file, used by LLMs to index the site. Interest Rates From 4.99%, Comparison Rates From 5.87% Compare our cheap low interest rates for car finance & leasing with Jade Car Loans personal or business car chattel mortgage lending Australia-wide ## Posts ### [Will RBA Rate Rise Impact Car Finance Interest Rates](https://www.jadecarloans.com.au/blog/will-rba-rate-rise-impact-car-finance-interest-rates) **Published:** September 28, 2026 **Author:** Publisher **Excerpt:** Car finance interest rates on new loans and existing loans with a variable interest rate are likely to increase following the RBA rate rise on 29 September. **Content:** Car finance interest rates on new loans and existing loans with a variable interest rate are likely to increase following the RBA rate rise on 29 September. The Board of the Reserve Bank unanimously decided to increase the cash rate by 0.25% to a 15-year high of 4.6%. The increase was widely expected following the continued increases in inflation which is the RBA’s main focus with monetary policy decisions. For those looking to take on finance to upgrade vehicles in the short or near term, the big question will be how will this decision and the next November cash rate decision affect motor vehicle finance rates? To provide buyers with some level of clarity in what is a complex economic scenario, we cover off on the key points in the latest rate decision statement and comments by RBA Governor Bullock in the media conference. ## RBA Rate Rise September Decision The scenario around this year’s rate rises is not as clear and easy to understand as previous rate hike periods. The high level of inflation is at the core of the RBA’s decision and recent data has the rate higher than expected at the last [Reserve Bank](https://www.rba.gov.au) Monetary Policy Board meeting. The ‘upside’ risks that the Board had previously identified have started to materialise. There are complex issues in the domestic economy, and the Middle East conflict is just making a bad situation even worse. Specifically, the Middle East conflict has gone on for longer than the RBA and others expected. As Governor Bullock put it so bluntly in the media conference, it has made us all poorer. As noted by the Board, global fuel prices are high and the flow through effects of higher fuel prices go beyond the bowser. Transport costs are affected and that means increases in just about everything we buy. There are effects on fertiliser prices which flow through to produce prices. Another issue which has entered the interest rate discussion is the boom in AI. How? On several fronts including driving up technology prices, attracting investment and drawing resources to construction of data centres. In response to a question in the media conference on unemployment, Governor Michele Bullock said that the unemployment rate is still low historically, but productivity was ‘doing nothing’, noting that the RBA can’t do anything about productivity. There is excess demand and supply needs to pick up. While Ms Bullock noted some regulatory action which may assist productivity improvements, she said it was incumbent on businesses to take opportunities. In the statement announcing the September cash rate decision, Governor Bullock notes the cost pressures being experienced by businesses. The Bank’s liaison with the business sector indicates that many businesses are passing on those costs or intend to, in increased prices. The Board’s key focus is to ensure that high rates of inflation do not become embedded in the economy. To achieve this objective, demand needs to slow. Supply is currently not keeping up with demand. Monetary Policy, that is interest rates, is essentially the only tool that the RBA has to affect inflation. As Ms Bullock mentioned, it has been proven that monetary policy does work to bring down inflation. It encourages savings over spending, impacts asset prices and exchange rate impacts make imports cheaper, altering the supply/demand equation. Essentially interest rate rises still work. People don’t necessarily see the mechanisms that bring prices down. What’s ahead? The RBA Board continues to focus on bringing inflation back down to the 2-3% target and will increase the cash rate again, if considered necessary. The next decision will be announced on Tuesday 3 November, which is Melbourne Cup Day. Will it be the race or the rate that stops the nation? Following the August inflation information released by the ABS on 30 September, another rise is highly likely. ## Car Finance Interest Rates Outlook For those with existing vehicle finance at a fixed rate, the latest cash rate decision will not impact their rate or repayments. Fixed rate loans remain unchanged over the full fixed term. Fixed rates are a feature on [our Secured Personal Car Loans](/secured-car-loans) and on business finance products – Lease, [Chattel Mortgage](/car-chattel-mortgage) and Commercial Hire Purchase. Car loans with a variable interest rate, which are less common than fixed rate loans, will likely see an increase in their rate. Following a cash rate decision, either up or down, it is up to individual lenders to make their own decision on the rates they offer across their credit product portfolio. Typically, most will react with changes to their interest rates. Buyers planning to proceed with a purchase with finance can consider actions to improve their prospects of achieving their lowest possible [car loan interest rates](/car-finance-interest-rates). These actions may include addressing their credit profile, making a larger deposit to reduce the loan required, and using a broker to source the most suitable lender and best market rates. **For competitive car finance interest rates following the September RBA rate rise, connect with Jade Car Loans for a large selection of lenders and expert brokers to source your best rate. Connect online or by phone on [1300 000 003](tel:1300000003).** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS* **Categories:** My Business --- ### [Which Car to Buy? New or Used? EV or Petrol? Basic or High-Spec? Compare Cars – Convert Prices to Loan Payments](https://www.jadecarloans.com.au/blog/which-car-to-buy-new-or-used-ev-or-petrol-basic-or-high-spec-compare-cars-convert-prices-to-loan-payments) **Published:** September 17, 2026 **Author:** Publisher **Excerpt:** Buyers can compare cars by converting prices to estimated loan payments using an online Car Loan Calculator available at car finance broker or lender websites. **Content:** Buyers can compare cars by converting prices to estimated loan payments using an online Car Loan Calculator available at car finance broker or lender websites. Both new and second-hand Australian motor vehicle markets are extensive. New brands have been entering the market recently, providing vehicle owners with plenty of choice when the time comes to upgrade. The big question for most buyers is ‘what car should I buy’? There are plenty of sources for suggestions on what new cars to buy and enticements from manufacturers and dealers with free extras, discount sales, promo offers and finance offers to attract buyers. The NRMA recently published its report on its assessment of the [best value cars](https://www.mynrma.com.au/open-road/best-value-car-awards?). Every month [the FCAI](https://www.fcai.com.au) releases the sales figures on which brands and models have sold the most that month. Based on recent sales figures and hence the popularity of certain makes and models with buyers, the Chinese brands are dominating with 5 brands in the top 10 selling manufacturers. The data also shows that buyers are preferring EVs to petrol and diesel. Combined battery, hybrid and PHEV were over 50% of new car sales in August. But how do buyers relate all the information available to their own circumstances? When it comes to affordability, the gauge for many buyers will be the price. Or more specifically, affordability. Where finance is required to make the purchase, the ‘affordability’ factor may depend more on loan payments each month than the ticket price. But looking at a ticket price, most buyers will be wondering ‘what does that mean each month in loan payments?’ To assist buyers to compare cars by converting motor vehicle prices to a more relatable loan payment figure, we provide a [Car Loan Calculator](/car-finance-calculator). ## Using Loan Calculator to Compare Cars While converting car prices to loan payments with interest calculations sounds well beyond most people’s capabilities, using our calculator could be one of the easiest steps in the whole car buying process. To convert the price of a car to more relatable monthly loan payment estimates can be done quickly and simply. The exact price a buyer pays and the exact interest rate they may be offered will both be dependent on the final purchase deal and the lender’s assessment of their loan application. But to obtain estimates for comparison purposes, use the advertised pricing and [our latest car finance interest rates](/car-finance-interest-rates) for the type of loan you require. Enter a preferred term and the monthly payment estimate for those figures is displayed. Change the loan amount to allow for a larger deposit or trade-in and see how that changes the amount due in payments each month and the reduction in interest. Making a larger deposit may make that high-spec model an affordable option. To compare cars based on finance payments, look at the monthly outgoing and the total interest accrued. Carry out calculations for as many vehicles as you want to determine your most affordable option. ## Comparing Cars with Finance Offers Use the calculator to compare repayment estimates for different interest rates. The results are estimates as the calculator does not allow for lender fees and charges. Buyers presented with an offer at the point of sale or comparing options from different lenders can quickly compare the offer with our latest car finance rates. If a dealer is offering a ‘promotional rate’ read the fine print to see how long the offer is valid and what rate applies after the offer expires. ## Compare Cars – Extra Considerations While price and payments are critical to many buying decisions, it can also be worth taking a few other factors into consideration regarding costs. When comparing new with used models consider servicing and maintenance. Many new vehicles come with free or relatively low-cost servicing for the initial ownership period. If considering second-hand, you’ll want to ensure you’re not buying ‘someone else’s problems’. That is, is the buyer selling because the vehicle needs, or will soon need, significant work? Consider which models buyers would upgrade more often. These can tend to be the higher-end brands. Is the owner selling as problems have arisen? Or do they have another reason? If buying privately, try to draw them out on their reasons for selling in conversation when inspecting the vehicle. It is highly advisable to get a mechanic to check the vehicle before buying. Organisations like the NRMA offer this type of service. Insurance is another consideration and required when financing with [secured credit](/secured-car-loans). Insurance is priced on the value of the vehicle. Higher priced vehicles will typically cost more to insure. Insurers also include an assessment of repairing that model or brand when calculating premiums. Some brands are considered less expensive to repair than others. Running costs – EVs cost more but are considered lower in fuel costs. Consider your usage – how much you use your vehicle, to assess if any fuel savings balances out the higher price tag usually associated with EVs. Give thought to the availability of parts moving forward. Several manufacturers have already, or announced they will, exit the Australian motor vehicle market. Several models have been axed from ranges due to the new vehicle emission standards. Buyers that plan to keep a vehicle for many years will want to be assured that they will be able to access the necessary parts and labour to service the vehicle over the ownership cycle. **To compare cars based on your specific vehicle financing, connect with a Jade car finance broker online or by phone on [1300 000 003](tel:1300000003) for a quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What Are the Best Value Cars? NRMA Open Road Inaugural Awards](https://www.jadecarloans.com.au/blog/what-are-the-best-value-cars-nrma-open-road-inaugural-awards) **Published:** August 31, 2026 **Author:** Publisher **Excerpt:** The Best Value Cars Awards conducted by the NRMA Open Road focussed on assessing the ‘real-world ownership’ of 120+ vehicles with the MG3 the overall winner. **Content:** The Best Value Cars Awards conducted by the NRMA Open Road focussed on assessing the ‘real-world ownership’ of 120+ vehicles with the MG3 the overall winner. Several of the most popular vehicle types were included in the awards with winners announced for each category. This assessment of vehicles based on the real costs of ownership may provide buyers with useful information when selecting their next vehicle. What does value mean for you? Many buyers may only consider the driveaway price and loan repayments. With costs-of-living pressures persisting, considering what a vehicle may cost beyond the initial purchase may be significant in easing budget pressure across the ownership cycle. We cover off on the results of the Open Road awards plus provide details on adding even more value to your purchase with your choice of financing. ## Awards Criteria for Best Value Cars Open Road is a publication issued by the NRMA which includes interesting and valuable information for car owners. This inaugural awards program is aimed at assisting buyers to make a more informed decision when selecting a vehicle that offers value. When considering winners of any awards program, it is important to consider the criteria or guidelines that the judges used to arrive at their decisions. With the Open Road Best Value Car Awards 4000 calculations were carried out and 120+ vehicles assessed. The vehicle categories included were hybrids, EVs, small cars, dual cabs and SUVs. The factors covered in the calculations included insurance, depreciation, costs of fuel or electricity, registration, tyre replacement, maintenance and servicing. Depreciation was assessed on the 5 year mark resale value. Fuel cost calculations included consideration of the national average price of fuel and consumption. The EV calculation used a ‘blended charging model’. That is public fast charge, home and solar charge. As price is a major contributor to value, the entry level variants of the vehicles were chosen for assessment. The results indicate the ‘real-world ownership’ rating for vehicles over a 5 year period. For more information on specific criteria and calculations, head to [the awards webpage](https://www.mynrma.com.au/open-road/best-value-car-awards). ## Best Value Cars – Winners Overall, [the MG3](https://mgmotor.com.au/) was crowned the winner and the winner in the Small Cars category. The MG QS won the Family Cars category and the BYD Shark 6 the Dual Cab Ute category. SUVs were categorised as small, medium and large with winners Suzuki Ignis, Chery Tiggo 7 PHEV and Skoda Kodiaq respectively. There has been a marked surged in the sale of EVs and hybrids in recent months. But what to buy? If you want value and trust these awards, the best value hybrid was assessed as the Toyota Yaris and the best value EV, the BYD Atto 1. Highly commended across the categories were Mahindra XUV3XO 1.2 AX5L, GWM Ora 5, Honda ZR-V VTi X, Kia Picanto manual sport, Kia Sorento and KGM Musso ELX. There is plenty of information for buyers to digest when creating their short-list of vehicles before heading to a dealership for an inspection and test-drive. ## Add More Value when Financing Best Value Cars While these awards comprehensively cover the ownership costs over 5 years, they do not cover the cost of finance. Most buyers will need a car loan to buy a new vehicle. When talking ‘value’ in relation to motor vehicle finance, getting the best value for most buyers will mean getting the lowest monthly car payment which usually means getting the [lowest car loan interest rate](/car-finance-interest-rates). While many are clear on what they want, they may not be completely across how to get what they want. How to get the lowest rate and the lowest payments. Whether requiring a [personal car loan](/personal-car-finance) for a new vehicle or business vehicle financing, the same factors should be considered in securing the best value. The interest rate is critical! Rates vary with lenders, individual loan products and the financials and credit profile of the buyer. Finding the lender, loan product and hence the lowest rate to suit an individual buyer can be time-consuming, confusing and challenging. Using an expert motor vehicle finance broker can help buyers to identify their most suitable and affordable finance. While focussing on the monthly payment, don’t overlook the total interest that accrues on the loan. A critical factor in the overall cost of buying the vehicle. Consider the term of the loan and the amount borrowed. The term affects both the monthly payment and the total interest payable on the loan. The easiest way to see how this works is to calculate payments at different terms using [our Car Finance Calculator](/car-finance-calculator). Consider the value which may be realised by paying a little more per month and saving on total interest. The loan amount affects the monthly payments but can also affect the interest rate offered. A larger loan compared with the value or price of the vehicle may be seen as a higher risk loan by lenders and attract a higher rate. The loan requested usually reflects the deposit a buyer is prepared to make on the vehicle. Making a larger down payment may deliver a better value result. When applying for finance, credit profiles and scores are integral to lender offers. Taking time to follow the guidelines for [improving a credit score](https://www.moneysmart.gov.au) may deliver benefits. Lender fees and charges can vary with lenders and with different types of loans and can affect the overall cost of finance. If considering dealer finance for example, look beyond the rate and at any extra fees and any special conditions. Where a promotional interest rate is advertised, make sure you are aware of what happens after that promotional period expires. **To add value when buying one of the best value cars, connect with a Jade car finance broker online or by phone on [1300 000 003](tel:1300000003) for your best value car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Improve vehicle lifecycle savings with your best BYD Finance](https://www.jadecarloans.com.au/blog/improve-vehicle-lifecycle-savings-with-your-best-byd-finance) **Published:** June 8, 2026 **Author:** Publisher **Excerpt:** Securing the best possible BYD finance with low interest rates may assist buyers to further improve their lifecycle savings from their EV. **Content:** Securing the best possible BYD finance with low interest rates may assist buyers in further improving their lifecycle savings from their EV. The car loan interest rate is a key determinant of the overall cost of buying a car. While many buyers will focus on how the rate determines their monthly payments, a significant figure many may overlook is the total interest accrued over the full term of the loan. This is a key figure in determining the total finance cost and the total cost of buying that vehicle. Many buyers are drawn to EVs to support the environment, but also for the lower fuel and maintenance costs that ownership can deliver. If considering buying an EV from the BYD range, ensure you obtain your lowest possible rate for the best loan possible. We explain how buyers can do that, with a quick update on the EV market. ## EV Market Trending Up Driven by the NVES (National Vehicle Emissions Standards) and the fuel crisis, sales of electric vehicles have increased significantly in the past few months. Australia was seen as somewhat of a ‘slow adopter’ of low-emission vehicles, especially battery electric models. The main reasons were generally considered to be the lack of charging infrastructure and longer distances travelled compared with, say, Europe. But the scenario has been changing. So much so that an electric vehicle topped the new vehicle sales for the month of May, and one of the largest EV manufacturers has just delivered a massive shipment of vehicles to Australian shores. According to the [FCAI](https://www.fcai.com.au/) for May this year, battery electric models were 20% of total new car sales. A record! When PHEVs and hybrids are also included in the category, that percentage jumps to over 46%. In another record, an EV, the Tesla Y, was also the top-selling model for the month. Another sign of the surge in EV interest and sales was the arrival in Melbourne of a BYD-owned ship. The BYD Zengzhou is purpose-built for carrying cars, delivering 5,000 new vehicles for the Australian market. The branded vessel and the large shipment attracted plenty of interest – was it a PR exercise, a fast response to growing demand from the fuel crisis, or a sign of the brand’s support for the EV market? The company reportedly confirmed that the shipment was in response to the spike in demand for EVs as a result of the Middle East fuel crisis. The ship’s arrival attracted a lot of attention, as is the brand itself among buyers. [BYD](https://bydautomotive.com.au/) came in second to Toyota in best-selling brands for May. With affordable pricing and EV and PHEV models from the small city Atto 1 through to the Shark 6 ute, could a BYD be your next drive? ## BYD Finance Options This Chinese car manufacturer is clearly finding its mark with Australian buyers. Models are available to suit both business and private buyers. Buyers can finance EVs with the same loan types as those used to fund diesel and petrol vehicles. The most popular new car loan for private buyers is the [Secured Car Loan](/secured-car-loans). Business buyers have their choice of a Lease, [Chattel Mortgage](/car-chattel-mortgage) or Commercial Hire Purchase. All are secured-format loans with the vehicle used as the loan collateral and are arranged with fixed rates, fixed terms and fixed payments. Where charging equipment is ordered and included on the dealer invoice, the cost may be included in the vehicle loan. Check with our brokers if this would be allowed with your specific purchase. ## Getting Best Rates on BYD Finance The affordable pricing of models from this Chinese manufacturer can make moving to an EV within the reach of many car owners. The lifecycle savings with EVs could be another reason to make the switch. To further add to those savings and ensure their EV purchase represents the best value possible, buyers will want the lowest possible interest rate loan. Using a specialist motor vehicle finance broker provides buyers with a quick, professional and efficient service for covering many lenders to find the best possible rates without impacting their credit score. Our brokers quickly cover off on our 80+ lender base to match buyer profiles with lenders, securing the lowest possible rate for their financing. A lower rate means less interest accrued over the term of the loan and that means less overall cost for the vehicle than with a higher rate. Our brokers will also advise customers on how they may improve their prospects of being offered a better rate. This may include reducing the amount required for the loan by making a larger deposit. Lenders can offer better rates with lower loan-to-vehicle value applications. ## Get Pre-approved BYD Finance With demand for EVs on the rise, buyers may need to be quick to secure the make and model of their choice. If you’re keen to take delivery of one of the vehicles on the latest BYD shipment when they arrive in dealerships, consider applying for financing now. Pre-approved financing gives buyers their approved loan limit and the confidence to order their vehicle. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) for affordable BYD finance to add further value to your vehicle purchase.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT ARE PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESSES SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE WHO CONSIDERS THAT THEY NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Why Is Car Insurance in the News? What’s Happening and Hints for Finding a Better Policy or Premiums.](https://www.jadecarloans.com.au/blog/why-is-car-insurance-in-the-news-whats-happening-and-hints-for-finding-a-better-policy-or-premiums) **Published:** August 17, 2026 **Author:** Publisher **Excerpt:** Car insurance covers owners for vehicle damage and is available through many insurers with variations in policy inclusions and premiums. **Content:** Car insurance covers owners for vehicle damage and is available through many insurers with variations in policy inclusions and premiums. Insurance is peace of mind as the insurer pays the repair costs for incidents and damage that are covered by the policy, while the owner only pays the excess. Most owners consider it astute to insure their vehicle. For owners with vehicles under finance with the vehicle used as the loan collateral, insuring the vehicle is required by the lender. Vehicle owners with policies coming up to renewal time may have recently noticed that their premiums have increased significantly from last year. Isn’t everything going up with inflation? Yes and no. Policy holders are not the only ones that have taken note of the steep increase in motor vehicle insurance premiums. The authorities have also noticed and are on to it! We explain what you should take note of and how you may source a lower premium. ## Recent News on Car Insurance Recent media reports of an [ASIC](https://www.asic.gov.au "ASIC") review of vehicle insurers revealed that many are not providing sufficient information to customers on premium increases. The ASIC Commissioner said that some insurers were providing only generic information on increases and others no details. The Commission has said it will take legal action against insurers that provide misleading or inaccurate information to customers. Customers are encouraged to speak with their insurer if they have had a sharp increase or to get details on why their premiums have increased. ## Who Needs Car Insurance? Why? As noted above, vehicle insurance is required by lenders when a vehicle is financed with a secured loan. These loans – [Secured Car Loans](/secured-car-loans "Secured Car Loans") for private vehicles and [Chattel Mortgage](/car-chattel-mortgage "Chattel Mortgage"), Lease and CHP for business operators – use the vehicle as the collateral for the loan. The lender requires the vehicle to be covered with comprehensive insurance so they have the assurance that should the vehicle be written off and repossessed, they will recoup the outstanding debt. Owners of vehicles that are not under finance are not required to have a comprehensive policy, only the Compulsory Third Party policy. But most owners will continue insuring their vehicle after they have finalised their loan. If you don’t have car insurance and your vehicle is damaged and your responsibility, you will have to cover all the repair costs yourself. If the car is insured and is damaged and the repairs are approved by the insurer, the owner pays the excess and the insurer covers the balance of the costs to the repairer. Owners of very old vehicles with low value that are not under finance may choose not to insure. If an uninsured vehicle is written off, the owner simply gets no payout and is left with no vehicle. ## Types of Car Insurance Policies Motor vehicle insurance policies differ in many aspects. Primarily there are two types – Agreed Value and Market Value. When taking on a new policy, car owners should look at the detail and the value as noted by the insurer to determine which is most suitable for them and their lender. Policies vary with the details as to what is covered. These variations may include whether the damage is caused by the owner or another party, who was driving, where the vehicle was, and the type of damage sustained. The market is very competitive as can be seen by the many ads for car insurance appearing on our screens. It can be worth shopping around as a better premium or a more suitable policy may be available to you. ## Tips to Get Better Car Insurance Policy Most people simply renew their policy each year without giving much thought to the detail. For those that pay monthly with direct debit, insurers advise policy holders that from the renewal date they will have a new monthly premium. Many just accept it, note it, and move on. For those that pay annually, the paperwork arrives by email or mail with the new premium, and it is up to the vehicle owner to note the details. Let’s face it, we’re busy and there is just so much detail in these policies – who has the time or patience to go through it all? Well, it could be worth taking that time. If the premium is stressing your budget or has risen considerably, speak with the insurer about why and consider changing the excess. This may result in a better premium. Shop around; there are many insurers in the market BUT – don’t make decisions purely on price. Look closely at what is and isn’t included in the policy. For example, some policies only cover one windscreen replacement per year while others cover unlimited replacements. For car owners in country areas or who do a lot of road trips where the risk of windscreen damage is higher, this may be important. Using an insurance broker may assist vehicle owners to find their best policy. Just like finance brokers source vehicle loans for customers, insurance brokers source policies for their customers. For those that are not big on covering the detail or who don’t have the time to shop around, using a broker may be a good idea. ## Can Car Insurance Policies be Financed? For private car owners, an [Unsecured Personal Loan](/unsecured-personal-loans "Unsecured Personal Loan") may be a possible finance option for a large insurance premium. The amount required for the loan would need to be below the minimum that a lender would approve and a 1-year term would be required. Businesses that have a policy covering multiple vehicles may speak with us about Insurance Premium Funding, a specialist commercial credit facility. **For insurer contacts and more information on car insurance connect with a Jade car finance broker online or by phone on [1300 000 003](tel:1300000003)**. *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Why Do You Need to Use a Car Finance Broker to Get a Car Loan?](https://www.jadecarloans.com.au/blog/why-do-you-need-to-use-a-car-finance-broker-to-get-a-car-loan) **Published:** August 3, 2026 **Author:** Publisher **Excerpt:** A car finance broker is a financial industry professional who sources the most suitable vehicle loans on behalf of buyers from their accredited lenders. **Content:** A car finance broker is a financial industry professional who sources the most suitable vehicle loans on behalf of buyers from their accredited lenders. The motor vehicle lending market is one of the largest sectors of the Australian credit industry and seems to be constantly growing. With more options and opportunities to obtain loans emerging, especially online, many may be thinking why do they need to use brokers. The fact that there are so many options is one of the most compelling reasons why engaging with an expert can be advantageous. The large number of lenders in the market can lead to strong competition. But with that can come confusion and a lot of time for buyers trying to find their best possible motor vehicle loan. Lenders set their own interest rates and include their own set of features in their credit products. Features which may or may not suit all or some buyers. Vehicle buyers can be presented with multiple considerations. Should they go with the dealer offer? Should they stick with their bank? Should they stay with the same lender as their current car loan? Should they apply to one of the new lender options? Should they ask a friend for an opinion or ask AI to find their best loan? Using the services of specialist motor vehicle loan brokers can clarify the confusion, allay fears of selecting an inappropriate loan, and instil buyers with the confidence that they have had a professional source their financing. ## What is a car finance broker? While many vehicle buyers always use brokers to source their financing, others will likely not have or even be aware of the services available to assist them. A car finance broker is a licensed credit provider that sources loans on behalf of vehicle buyers. Brokers are not lenders per se, they do not lend their own funds. They are accredited with lenders that give their approval for the brokers to source loans for their customers from their credit portfolio. Brokers should be licensed, display their credit provider number and adhere to the Responsible Lender Guidelines as set by[ ASIC](https://www.asic.gov.au " ASIC"). Some brokers may only provide services to businesses while some, like Jade Car Loans, provide services to both individuals and to businesses. ## How can a Jade car finance broker help you? We source vehicle buyers their most suitable and affordable financing from across our large lender base. Cutting the time and the confusion which buyers may experience when faced with so many options and lenders in the market. We cover off on more lenders quickly with our industry connections and resources and provide access to lenders not always available direct to the public. While a dealer or other source may only offer one lender option and no choice, we offer buyers access to many lenders. Why is it important to cover off on a lot of lending options? To ensure the best rate and most suitable credit product is secured. The [RBA](https://www.rba.gov.au) sets the cash rate but lenders set their own rates on different credit products and the rate offered to an applicant will depend on their financials and credit score. We focus on finding buyers their best possible rate. Lender rates vary so do the features of their loans and the guidelines they use to approve loans. We know the matrix used by lenders and the features of loan products. Enabling our brokers with the expertise and knowledge to find buyers their most suitable option. We save you time by handling the hard work and adding professionalism and experience and our bargaining power into sourcing your motor vehicle finance. ## Loans Available with Jade Car Finance Broker We assist both individuals and businesses with our portfolio of personal and commercial vehicle finance products. [Secured Car Loan](/secured-car-loans "Secured Car Loan") and Unsecured Personal Loans for private buyers and Chattel Mortgage, [Lease](/car-lease "Lease"), CHP and Novated Lease for business vehicle buyers. We also provide expert assistance for new and small businesses with access to [No Doc and Low Doc Motor Vehicle](/low-docs-car-loans-for-business-vehicles "No Doc and Low Doc Motor Vehicle") financing. Young drivers can use our services to advise on and arrange Guarantor Car Loans. ## Working with Jade Car Finance Broker What’s it like to use a Jade broker? Straightforward. No referral is needed for starters. Vehicle buyers can simply contact us directly online or by phone for Australia-wide service. Customers brief us on what they are buying and provide details and documents on their financials. We take it from there with total focus on their best interests. All loans are individually handled with a broker assigned to each customer. The most suitable option is sourced and presented to the customer for their decision. We do the work, you make the decisions. When an offer is accepted, we process and finalise the financing and assist with settlement between our lender and you seller or dealer. **To simply and streamline the process of sourcing motor vehicle finance and ensure you have secured your best possible loan offer, connect with a Jade car finance broker online or by phone on [1300 000 003](tel:1300000003).** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Loans for EV Charging Solutions and Stations](https://www.jadecarloans.com.au/blog/loans-for-ev-charging-solutions-and-stations) **Published:** June 22, 2026 **Author:** Publisher **Excerpt:** Loans for EV charging solutions for homes may be sourced with Unsecured Personal Loans and asset finance and unsecured credit facilities for businesses. **Content:** Loans for EV charging solutions for homes may be sourced with Unsecured Personal Loans and asset finance and unsecured credit facilities for businesses. Sales of electric vehicles have soared in Australia primarily due to the recent surge in fuel prices and the risk of fuel shortages. Car buyers are turning to battery electric, PHEV and hybrid models to reduce their fuel costs and avoid any potential shortages. One of the main reasons why Australians were slow to take-up electric vehicles was the lack of charging infrastructure. While the public facilities are growing, many owners will want the convenience of their own facilities. Installing your own EV charging solution at home, in the workplace or on a commercial premises may be a very workable and affordable option. Providing the convenience of easily charging your vehicle overnight, while working, and to support a fleet of EVs on-site. While many installations may be funded from existing cash flow and savings, more complex and larger-scale solutions may require financing. We outline the financing options for both personal and business loans for EV charging stations. ## EV Charging Set-ups and Considerations Buyers will need to know how much they will require for financing and if finance is required. That can involve working out the type of set-up that suits the property and the number of vehicles to be charged. The type of charging equipment required will depend on a number of factors. Considerations include:- the level and speed of charge preferred; the electrical set-up at the property; distance from charging unit to the vehicle which may require longer run cables with trenchwork; the age of the property’s switchboard; if a solar power installation requires adapting and connecting or installing; and for workplace, apartment and business premises, how many vehicles require charging at the same time. If considering installing a charger in an apartment building, approval from the strata committee will typically be required. An entire system may include hardware for a Level 1,2 or 3 system, installation costs, and upgrades to electricals works. Some properties may require trenchwork for additional cabling. Properties with existing solar may require upgrades or specialist installers to connect to the solar system. Engaging with professional consultants may be advisable to assist with planning the specific requirements for your property. Buyers may refer to organisations like the [Electric Vehicle Council](https://electricvehiclecouncil.com.au/a-z-charging/ "Electric Vehicle Council") for information on different types of installations and suppliers. ## Business Loans for EV Charging Solutions The options for financing the installation of electric vehicle charging facilities at a commercial premises by a business can include asset finance and/or Business Loans. Where the equipment and installation costs are provided by the same supplier on the one invoice, they may be included in the same loan. Where the equipment is accepted as suitable loan collateral by the lender, businesses may finance that part of the installation with either Chattel Mortgage, Lease or Commercial Hire Purchase. A separate Unsecured Business Loan or Overdraft may be used to finance costs that are not considered suitable collateral. For example, trade fees for electrical system upgrades, building works, and installation that is invoiced separately to the hardware. Consult with one of our brokers on the most affordable funding package to install facilities at your business premises. ## Loans for EV Charging Solutions – Residential Where a basic charging station with a straightforward installation is required, many homeowners will likely not require finance for their set-up. Many home charging set-ups can be priced under $2000, but that pricing may not include the full scope of the works required. Where the property and electrical set-up require work by tradespeople, or a more expensive unit is required, financing may be required. A more complex set-up may include upgrading an existing solar power installation to suit the EV charger or digging trenches for cabling to the driveway or garage. An [Unsecured Personal Loan](/unsecured-personal-loans "Unsecured Personal Loan") may suit this type of expenditure and may cover the full cost of the hardware, building and electrical works, and the installation. To confirm the type of loan that best suits your plans, speak with one of our brokers. ## Calculating Loans for EV Charging Solutions When planning your electric vehicle charging facility installation, refer to our [Finance Calculator](/car-finance-calculator "Finance Calculator") for loan estimates. Use the relevant interest rate for the loan product required to fund the project. Note that secured finance is provided with fixed rates that do not change and unsecured loans may have a fixed or a variable rate. Variable rates are subject to change with the [Reserve Bank](https://www.rba.gov.au "Reserve Bank"). The calculator provides estimated repayments which can be useful for planning purposes. To know exactly what your finance will be, request a quote based on your hardware and installation plans. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) to discuss the most suitable and affordable loans for EV charging solutions and stations for your property and your vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What are the Best Utes on the Market? Experts Give their Verdict](https://www.jadecarloans.com.au/blog/what-are-the-best-utes-on-the-market-experts-give-their-verdict) **Published:** July 6, 2026 **Author:** Publisher **Excerpt:** The best utes on the market have been reviewed by motoring experts with the Ford Ranger Wildtrak rated the best, and it is the top seller in recent sales data. **Content:** The best utes on the market have been reviewed by motoring experts with the Ford Ranger Wildtrak rated the best, and it is the top seller in recent sales data. The dual cab chassis segment is second only to SUVs in the Australian motor vehicle market. When it comes to deciding which dual cab to buy, Australians have a plenty of choice. The market favourites and perennial top sellers – Ford Ranger and Toyota HiLux, are being challenged by many new brands and electrification. In particular, the Chinese brands such as BYD which offer extremely affordable pricing. What are your buying criteria – price, performance, brand loyalty? When deciding what new ute to buy, who do you consult – mates, family, colleagues, reviews, car dealers? Fortunately, for the multitude of dual cab chassis buyers tossing up which vehicle will be their next, the experts at Drive offer guidance with the results of their mega ute test. Buyers can also refer to the sales figures to see what is selling best and compare finance options where the outlay is crucial to the decision. ## The Best Utes Test After the long domination of diesel models and Ford and Toyota, the market for cab chassis utes is seeing a challenge from new brands and electrified and hybrid models. The experts at Drive put some of the most popular models to the test to decide which was the ‘best’, focussing on higher spec, crossover variants. The models tested were the Ford Ranger V6 Wildtrak, Isuzu D-Max X-Terrain, Nissan Navara ST-X, Toyota HiLux Rogue, BYD Shark 6 Premium, Kia Tasman X-Pro, Mazda BT-50 GT and the Triton GSR from Mitsubishi. The experts provide detailed reviews of each model, which buyers can read at [Drive](https://www.drive.com.au/reviews/2026-ute-megatest-we-find-australias-best-dual-cab-ute/ "Drive"). For those that just want the bottom-line decision – all models tested were seen to offer differing weaknesses and strengths at their various price points. But it was the [Ford Ranger](https://www.ford.com.au "Ford Ranger") coming out as the overall best of this bunch for the driving experience, strength of the V6 and all-round polish. ## Best Utes by Sales Figures The experts have made their decision, and it seems that buyers concur with their verdict. Ford’s Ranger once again topped the sales charts in June for the best-selling vehicle overall, according to figures released by the [FCAI](https://www.fcai.com.au "FCAI"). Other utes in the top 10 best-selling model list when all new cars are included were the HiLux and the BYD Shark 6. Delving into the specific ute segments for sales and you’ll find that for 4x2s the best-sellers were the D-Max, HiLux and Ranger. For 4x4s under $100,000 the top 3 were Ranger, HiLux and Shark 6. Over the $100,000 price point and buyers were drawn to the RAM 1500, Chevy Silverado and Ford F-150. Note that these US vehicles were not included in the Drive ute test. BYD has emerged as a significant brand in the Australian market both for utes and cars. The brand was second in the June sales results, splitting Ford and Toyota. The attractive price points for the Chinese brand may be a factor in attracting buyers, especially in the current challenging economic conditions. ## Secure Best Utes with Best Finance While the performance, workability, towability and ability to meet work and lifestyle of a cab chassis may be spot on, if the price and the loan payments don’t suit, then perhaps it’s not your best ute. The focus for many buyers will be on securing the best cab chassis finance. Achieving the best possible loan for a ute can start with securing the lowest possible interest rate and by using finance experts to source and structure the loan for you. Whether requiring a personal [Secured Car Loan](/personal-car-finance "Secured Car Loan") for a private vehicle, or [business financing](/overview-of-business-car-finance "business financing") for a workhorse, our [rates](/car-finance-interest-rates "rates") are highly competitive. Ensuring the repayments are the most affordable possible and the total interest the lowest possible. Keeping the total outlay to a minimum. With our best possible rates, that top-rated, best-selling Ranger may be in your affordability zone. Use our [Finance Calculator](/car-finance-calculator "Finance Calculator") to work up repayment estimates based on the advertised pricing of different utes on the market. See how the high-spec models compare with the more budget-friendly priced BYD models. When using the Calculator to plan your purchase, vary the figures entered to work out your preferred loan structure. Consider making a higher downpayment or trade-in, to reduce the loan required. A lower loan amount compared with the purchase price, not only reduces the monthly payment but may also attract a lower interest rate. The term along with the rate determine the monthly payment. A longer term will provide a lower monthly repayment, but a larger amount of interest may accrue compared with a shorter-term loan. The calculator is a great tool to use while considering the expert vehicle reviews to decide which ute stacks up as your ‘best’ buy. Our experts are available to assist you in securing the best financing when you are ready to purchase. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003 "1300 000 003") to discuss personal and business financing on the best utes on the market.** DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR. **Categories:** Buying Tips --- ### [Cash Back, Discounts, Clearance, Free Service, Finance Offers, Run-outs – Understanding Cars on Sale](https://www.jadecarloans.com.au/blog/cash-back-discounts-clearance-free-service-finance-offers-run-outs-understanding-cars-on-sale) **Published:** May 25, 2026 **Author:** Publisher **Excerpt:** Cars on sale may feature a range of price reductions and offers including cash backs, no charge extras, finance offers, clearances and free servicing. **Content:** Cars on sale may feature a range of price reductions and offers including cash backs, no charge extras, finance offers, clearances and free servicing. The range of terms used by manufacturers and dealers with their sales can vary, along with what buyers are actually receiving. All can present great deals and exceptional opportunities to buy a current model new vehicle at less than the usual pricing. Manufacturers and dealers across many markets are under scrutiny by the ACCC to ensure that they accurately present their pricing to consumers. But to be confident that they fully understand what they are getting and to be sure it represents genuine value for them, buyers should know what all the terms mean. As the EOFY sales get into full swing, we cover off on the key terminology for buyers planning to buy a new vehicle on sale. ## Cars on Sale with Price Discounts Price discounts are fairly straightforward offers and what most buyers will be looking for to save money on a new car. The offer is usually advertised as $xxxx off the new price. These discounts may be offered across a brand and available through dealers. Typically, discounts will apply to selected models or selected variants of model ranges. A big discount can be a magnet for buyers. Who wouldn’t want hundreds or thousands off the price of a new car? Before getting over-excited, buyers should ensure the discount is on the specific vehicle that they want and suits their purpose. They should ensure, despite the discount, that the vehicle is affordable for them. Also look closely at what’s not included in the price. Dealer delivery, rego etc can add significantly to the full purchase price. ## Cash Back for Cars on Sale A cash back offer or rebate is a form of discount on the purchase price which appears across many sectors during sales time. While this is essentially a discount, there is a more complicated process for claiming the discount. Buyers will still need to finance the full purchase price to be able to take delivery of the vehicle. The cash back will need to be claimed after purchase, possibly through the manufacturer. The [ACCC](https://www.accc.gov.au "ACCC") advises buyers considering purchasing with a cash back offer to check if the offer has an expiry date; how long it will take to receive the funds; and what steps are required to receive the funds. If planning to use the cash back funds to make an extra payment on a [Secured Car Loan](/secured-car-loans), the timing could be important. ## Clearance and Run-Out Cars on Sale Model clearances and run-out sales are very popular in the motor vehicle industry. Dealers need to clear stock of current models before the new models arrive. Run-out sales can pop up at any time during the year, depending on the manufacturer’s schedule for new model launches. These sales typically have discounted pricing but only on selected models or, in some cases, on individual vehicles. Quantities are usually limited to what an individual dealer has in their showroom or warehouse. Buyers should check that the specific model they are after is included. They may need to ring around a few dealers to find out who has the model available. If the run-out is only on the top of the range model, consider whether this is right for you or if the next model down at a lower price is more suitable. These types of events can also include demo vehicles. Demo, or demonstrator vehicles, are cars that dealers have used over the past year to demonstrate the vehicle to buyers. These can be good buys, usually with only around 500-1,000 kms on the clock and possibly with some extras included. With limited stock, it can be advisable to get pre-approved finance. ## Free Servicing and Extras Included New cars do come with warranties, many extended to 5 years. But the full cost of every service and everything included in every service is not covered under the standard warranty. As an enticement to buyers, manufacturers may advertise ‘free servicing’. Buyers should look closely at what this includes and if it represents enough genuine value to them. Including extras in the package is another marketing technique. As with free servicing, check that you do need those extras. ## Finance Offers for Cars on Sale One of the promotional techniques that car brands use at sale time is finance offers. Finance is often advertised at very low interest rates. These types of offers require close scrutiny by buyers before committing. - Is the credit product right for you? - Does it suit your business? - Are the terms offered fair? - Does any low rate offered cover the full loan term? - What is the eligibility? - Are there any terms and conditions? - Is the interest rate fixed or variable? Taking on a finance contract is a major undertaking and buyers must be confident that the deal is right for them and does represent value. Our services and tools are readily available for all buyers – business and private, to use. Use our [Car Finance Calculator](/car-finance-calculator) to compare our [latest fixed interest rates](/car-finance-interest-rates) on new car loans with the true rate offered by dealers. Using our services, buyers have their best rate sourced from over 80 lenders, by experts that know the most suitable lender and loan for each buyer. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) to ensure you secure your best financing for cars on sale.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT ARE PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE CONSIDERS THAT THEY NEED FINANCIAL ADVICE FROM THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What are the best cars to buy now?](https://www.jadecarloans.com.au/blog/what-are-the-best-cars-to-buy-now) **Published:** May 11, 2026 **Author:** Publisher **Excerpt:** As a guide to the best cars to buy, buyers may review annual car awards conducted by experts, monthly sales figures and special offers for the best prices. **Content:** As a guide to the best vehicles to buy, consumers may review annual car awards conducted by experts, monthly sales figures and special offers for the best prices. Selecting the next car to buy can be an exciting experience or it can be a confusing ordeal. Australia’s new car market is extensive with a wide selection of manufacturers, models, fuel types and price range. Across this vast choice, many buyers will be wondering ‘what is the best car to buy’? Many new brands have been entering the Australian market. Names which are not familiar locally and buyers may be hesitant to jump into buying from a brand that they don’t know. Many manufacturers have been trimming back the petrol and diesel models they bring into the local market due to the introduction of the NVES — New Vehicle Efficiency Standard — the Government regulation aimed at increasing affordability and availability of new emission vehicles, which leaves buyers with the issue of considering a switch to an EV and if so, which one. Buyers seeking guidance on what vehicle to purchase can take advantage of a number of readily accessible resources. The experts at Drive conduct an annual awards program to determine their car of the year in 16 categories. The FCAI releases monthly sales figures on which makes and models sold the most units that month. Motoring organisations such as NRMA review vehicles in their publications. And if it is best pricing you’re after, the EOFY sales events are a great place to find reduced new car prices. ## Best Cars to Buy – Drive Car of the Year For buyers looking for expert guidance with the vehicle choice, you can’t go past the annual Car of the Year awards. These are conducted by the expert team at Drive, with judges covering many aspects and going into great detail to determine their winners. Specific criteria apply to eligibility for new models to be judged. The winners have recently been announced for 2026 across multiple categories with the Model Y from Tesla taking Car of the Year honours overall. In some of the most popular categories, buyers may consider the models judged winners by the experts. Winners include:- BYD Dolphin Essential for Best Urban with pricing under $30,000; Best Luxury under $150,000 the BMW 5 Series; Small SUV below $60,000 Hyundai Kona; Medium SUV under $60,000 Zeekr 7X and under $90,000 Genesis GV70; Best Off-road SUV for less than $90,000 Ford Everest; Best Dual Cab under $90,000 [Ford Ranger](https://www.ford.com.au/showroom/trucks-and-vans/ranger/); and in the best EV categories the winners were BYD Atto 2, Tesla Y and Polestar 4. To find out why the judges selected these models and see what other models were considered in the category you’re interested in, head to [Drive](https://www.drive.com.au). ## Review Sales Results for Best Cars to Buy If you assess the best models as those that other buyers are selecting, use the monthly new car sales figures as a guide. This data is released by the [Federal Chamber of Automotive Industries (FCAI)](https://www.fcai.com.au "Federal Chamber of Automotive Industries (FCAI)") each month and lists best-selling brands and individual models. In April, EVs continued to rise in popularity with buyers, with sales no doubt driven by the fuel crisis. The top three best-selling brands were: - Toyota, - Mazda, and - Kia. The models that sold the most units in April were: - Toyota RAV4, - Ford Ranger, - Toyota HiLux, - Chery Tiggo 4 Pro, - Hyundai Kona, - Toyota Prado, - BYD Sealion 7, - Haval Jolion, - Ford Everest, and - Mitsubishi Outlander. When assessing sales figures, be mindful that some figures may reflect delivery of back orders. As has been the trend over the past few months, Chinese brands are selling well. These brands may be new to you, but they are attracting interest with buyers and may be worth checking out. Pricing can be very affordable. ## Save Money with EOFY Sales For many buyers, the best cars to buy are those with the best price tags. Not necessarily the cheapest on the market, but with the best discount. Timing is ideal at the moment with the end of financial year sales already under way. EOFY sales typically present great pricing on current stock. You may not necessarily have your choice of colour or specific model or accessories, but the discount price may make up for any compromises. [Mitsubishi](https://www.mitsubishi-motors.com.au/offers.html) already have their EOFY event underway. Fuel cards, additional free servicing, bonuses and discounts are available across selected models including Triton, Outlander and Eclipse. Run-out sales usually have limited numbers. Be ready to buy with pre-approved finance. ## Financing the Best Cars to Buy Most new car buyers require finance, and the repayments on the loan can often be the deciding factor. We assist buyers by sourcing the most competitive rates on personal car loans and business vehicle finance from a large lender market. Compare our [current rates](/car-finance-interest-rates) using [the calculator](/car-finance-calculator) and see what the repayment estimates may be on your choice of vehicle. If heading to a sale event, ensure you are prepared by applying for finance first. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) for best interest rates on the best cars to buy right now.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE WHO CONSIDERS THAT THEY NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Car Loans for Gig Workers. What are your options?](https://www.jadecarloans.com.au/blog/car-loans-for-gig-workers-what-are-your-options) **Published:** April 27, 2026 **Author:** Publisher **Excerpt:** Car loans for gig workers are business finance facilities with ABN Car Loans available for new operators with minimal financial documentation. **Content:** Car loans for gig workers are business finance facilities with ABN Car Loans available for new operators with minimal financial documentation. As an increasing number of companies offer their goods to customers through delivery services and the popularity of taxi-alternatives rises, the need for drivers will likely also increase. This workstyle can present a very attractive option for many individuals, either as a full-time and sole source of income or as a part-time, extra-income side hustle. The major essentials are usually to have an ABN and to have your own vehicle. For many individuals looking to start working in the sector, that may mean buying a vehicle and that can require finance. So, what are your finance options? Entities with an ABN can be eligible for commercial credit — business vehicle finance. But there are several types of business asset loans. We go through the options, features and benefits and criteria for operators to consider. ## **Business Car Loans for Gig Workers** All business entities that have an ABN and ID have access to the full range of commercial vehicle finance products. These are [Vehicle Leasing](/car-lease), Chattel Mortgage and Commercial Hire Purchase. All use the vehicle as security for the loan and attract a fixed interest rate, fixed loan terms, fixed monthly payments and an end-of-term payout facility. Deciding which is best suited to the business operation depends on the accounting method used by the business, how it chooses to approach balance sheet entries and the approach to tax. With Chattel Mortgage and CHP, the buyer takes immediate ownership of the vehicle and as a business asset, must post it to their balance sheet. Leasing is different in that the lender retains the ownership title until the loan is fully paid. This means, the business does not have to post the asset to their balance sheet. This can be attractive to new and small operators. Operators are encouraged to speak with an accountant to discuss accounting methods and which facility will provide them with the best outcome. Interest rates on business finance are very competitive and will be determined by the strength of the financials and the credit history. Different rates apply to Lease compared with Chattel Mortgage and CHP. ## **Car Loans for Gig Workers – Tax Benefits** All commercial credit facilities provide businesses with a tax deduction. Lease payments are fully deductible. With Chattel Mortgage and CHP, the vehicle is depreciated to deliver a tax deduction. Interest is also a deduction. Gig and part-time operators should also consider any tax implications of a vehicle used for both business and private use. Where a business-owned vehicle is also used for personal purposes, Fringe Benefits Tax (FBT) may apply. There are several methods for calculating the percentage of business to private use which can be used. Operators should check with their accountant as to the implications of a vehicle used for both business and private purposes. ## **ABN Car Loans for Gig Workers** Individuals that are just setting up to operate in the gig economy and those that operate with low turnover may not meet all the approval criteria as set by some lenders. Specifically, that can be not having traded for at least one year, not having at least one year of business financial records, and having turnover below the lender’s minimum threshold. These types of loan applications are described as [ABN Car Loans](/abn-car-loan). Operators with essentially only an ABN and ID and little in the way of financials can apply under the category. These loans use the same credit facilities as described above but are offered with different rates and variations in the loan amount approved and collateral. ABN Car Loans are not available through all sources of business finance. Through our access to specialist lenders, we can offer these opportunities. Speak with one of our brokers about your eligibility for an ABN motor vehicle loan. New operators can often be unsure of how much they may be approved to borrow for vehicle finance, creating a problem with selecting a vehicle. This can easily be addressed by applying for finance approval before buying. Conditionally pre-approved loans use the same credit products and will attract the same rates as finance applications made after deciding on the vehicle. ## **Types of Vehicles** We finance all types of motor vehicles – new and used. Operators may be seeking a small, fuel-efficient model for urban food and grocery delivery work such as a recent top-seller in its class, the MG 3. They may require a 4-door sedan or SUV for passenger service work such as the [Toyota Corolla](https://www.toyota.com.au/corolla) or [Hyundai Kona](https://www.hyundai.com/au/en/cars/suvs/kona). Or for larger deliveries a light commercial van like the top selling VW Caddy or Toyota HiAce. Used vehicles may present a more affordable option, especially for operators anticipating relatively small turnover initially. Used vehicle finance can differ from loans for new cars. The interest rate may be higher, and the lender may not approve no deposit finance. Buyers can quickly compare repayment estimates by requesting a quote for their used vehicle and comparing with the new model using our Finance Calculator. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) for affordable options on car loans for gig workers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** My Business --- ### [Ease Cost and Supply Fears with a Fuel Efficient Car](https://www.jadecarloans.com.au/blog/ease-cost-and-supply-fears-with-a-fuel-efficient-car) **Published:** April 13, 2026 **Author:** Publisher **Excerpt:** Fuel efficient cars are motor vehicles that use less petrol per kilometre with 4 litres per kilometre considered an indication of good efficiency small cars **Content:** Fuel efficient cars are motor vehicles that use less petrol per kilometre with 4 litres per kilometre considered an indication of good efficiency small cars. With the current fuel crisis in Australia, many drivers have already switched to an electric vehicle to tackle the high prices and supply issues with petrol and diesel. [The FCAI](https://www.fcai.com.au "The FCAI") reported a surge in electrified vehicle sales in the March 2026 car sales figures. The sector now comprising the highest percentage of total market sales to date, at 14.6%. This surge may be the reason we see Kia just behind Toyota in sales per brand and BYD in third place for March. But despite the panic over fuel and the EV rush, Ranger and HiLux still topped the sales chart for the month. While many drivers rushed to make the change to EV, not everyone will be ready for a full battery-electric vehicle. But pretty much everyone will be wanting to save on their fuel costs. That may mean placing fuel efficiency as the major priority when comparing vehicles to purchase. Start comparing the most fuel efficient cars on the market and cost-effective financing to make your purchase. ## What are fuel efficient cars? Fuel efficient cars are models which use the least amount of fuel. The efficiency is expressed as litres per kilometre with a lower number representing the most efficient. This will be in the 4s for smaller vehicles and up around 8 for larger SUVs and utes. Measuring the efficiency of a vehicle is not a straightforward or exact calculation. Buyers will need to rely on ratings given by the manufacturers or by authorities or organisations that have conducted testing. Fuel usage will vary with the road and traffic conditions and driving style. Higher speeds can use more fuel which is why authorities are currently advising drivers to lower their speed to reduce their fuel consumption and save money. Highway driving can be easier on the tank than zipping around in stop-start city traffic. Newer models may offer greater fuel economy than second-hand models due to being fitted with the latest technology and fuel-efficient systems. Keeping a vehicle well maintained with regular servicing may contribute to better operation and the use of less petrol. Efficiency tends to be associated with smaller economical vehicles with smaller engines. But hybrid models, even in the mid to large range, present good value when it comes to petrol use. ## Fuel Efficient Cars to Browse Hybrids offer the best option for efficiency for those not ready to go full battery electric. A mid-way point which may be a great way to ease over to an EV. Save on the current high petrol costs and avoid supply issues, while easing any range fears with longer drives. Models to consider in the smaller category are the [Toyota Corolla hybrid](https://www.toyota.com.au/corolla/hatch "Toyota Corolla hybrid") and Hyundai i30. In the small vehicle market, Kia Picanto, Mazda 3 and Skoda Scala offer efficiency ratings in the 5.2-5.8 litres per kilometre range. Medium sized models, especially sedans, have lost much of their market appeal with the surge in the popularity of SUVs in recent years. If you’re looking for greater efficiency, then it may be time to take a second look at a sedan. Do you really need all the features of a SUV? Hybrids still come out on top in the ratings – eg. Camry and Accord, but the [Octavia from Skoda](https://www.skoda.com.au/models/octavia-family/octavia-rs "Octavia from Skoda") is a petrol version to consider. When it comes to SUVs, the smaller hybrid models from Toyota and Hyundai may be considered. Jumping up to medium SUVs and you’re looking at around the 6+litres per kilometre. In the large SUV market, efficiency for petrol engine models is getting up to the high 6s to 7 litres per kilometre with the Isuzu MU-X and Kia Sorento. Utes predominantly use diesel with supply a major concern with the current Middle East crisis. Most of the popular ute models including Ranger and HiLux will take around 7-8 litres per kilometre. If cost and supply reliability are key concerns, possibly consider investing in a small hybrid for those daily drives and keep the current larger and/or diesel vehicle for when it is specifically required. With affordable finance, this may be a very realistic option. ## Financing Fuel Efficient Cars With [our competitive interest rates](/car-finance-interest-rates), your financing could be as cost-effective as your new vehicle is fuel effective. Work up loan estimates using [our Finance Calculator](/car-finance-calculator) to see how affordable a car which is easier on the petrol and the hip pocket may be for you. To calculate finance estimates, use the interest rates we are currently achieving for the loan you require – [Secured Car Loans](/secured-car-loans) for private buyers and commercial credit facilities for business buyers. For a specific quote and/or get finance sorted before heading to the dealership, contact one of our brokers for quick, efficient car loan service. **[Contact a Jade Car Loans broker on 1300 000 003](tel:1300000003) for competitive rates on finance for fuel efficient cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [With fuel prices spiking, is it time to consider a change? EV Finance Options](https://www.jadecarloans.com.au/blog/with-fuel-prices-spiking-is-it-time-to-consider-a-change-ev-finance-options) **Published:** March 3, 2026 **Author:** Publisher **Excerpt:** EV finance for business and private buyers is available with the same lending products as for petrol and diesel vehicles, with varying rates and loan features. **Content:** EV finance for business and private buyers is available with the same lending products as for petrol and diesel vehicles, with varying rates and loan features. Drivers that have been putting off the switch from traditional fuel to electric may be motivated to make the change with the current fuel situation. The Middle East conflict has effectively caused a closure to the Strait of Hormuz for oil shipments other than those approved by Iran. Despite the Australian government saying the country has sufficient supplies, shortages are being experienced in some areas and prices have skyrocketed. To avoid the current fuel situation, ensure you are covered should similar events occur in the future and save on your vehicle expenses, trading your petrol or diesel for an electric vehicle could be a solution. While Australians were slow in the uptake of EVS compared with many other countries, sales surged in February 2026. While much of this increase was given to Telsa deliveries, other brands are also surging in popularity. Most brands are including EVs and hybrids in their ranges, especially with the introduction of NVES – New Vehicle Efficiency Standards. This policy fines manufacturers that essentially do not have enough EVs in their range compared with petrol and diesel models. While more expensive than a similar petrol model, EVs are available across the price spectrum. Budget small models in the MG range and the [BYD Atto 1](https://bydautomotive.com.au/). Popular brands including Kia, Hyundai, Toyota and Mazda include EV models and BYD offers a ute. In the February car sales figures, the best-selling EVs included Tesla, BYD Sealion 7 and the [Kia EV3](https://www.kia.com/au/main.html). There are many new brands to consider including Geely, Zeekr. While EVs offer lower running costs and are better for the environment than traditional fuel vehicles, for buyers to make the switch, the financing is also going to have to stack up. With a large selection of 80+ lenders, our brokers ensure you achieve your most competitive rates and affordable EV finance. ## EV Finance – Business and Private EVs do not require any special financing. The same loan products apply to EVs and hybrids as are used to finance petrol and diesel vehicles. For private buyers of new vehicles, the [Secured Car Loan](/secured-car-loans) is the most popular type of loan. This loan includes a fixed rate, fixed term and fixed monthly payments. Business buyers select the asset acquisition credit facility that will work with their accounting method, tax and balance sheet strategy and objectives. The selection includes [Chattel Mortgage](/car-chattel-mortgage), Commercial Hire Purchase and Leasing. Tax deductions are realised with all business financing facilities. [No Docs and Low Docs options](/low-docs-car-loans-for-business-vehicles) are available for new businesses. Many businesses can be approved for no deposit financing to ensure the full purchase price is included in the loan. Competitive fixed rates are sourced to suit the business profile and terms and balloons negotiated to deliver a workable monthly payment structure. Where lenders are offering any special financing deals for electric vehicles, we will find and present to you. Buyers may also check with their relevant state/territory government for any available rebates for electric vehicle buyers. ## EV Finance Rates While significant benefits can be realised, EVs typically come with a higher price tag than comparative petrol models. Highlighting the importance of securing the best rates to ensure the financing is affordable and the purchase a viable option to a traditional fuel vehicle. Rates will vary with loan products, lenders and will be individually offered based on each application. We source our best rates from across a large lender base to ensure we can deliver affordability for our customers. Use [our current rates](/car-finance-interest-rates) as a guide with our Car Finance Calculator to estimate payments and compare makes and models. Vary the loan amount to allow for different deposits or trade-ins and the repayment term to obtain estimates on different loan structures. ## Fast 24 EV Finance Approval With the future of the current fuel situation unknown at this stage, many drivers will be keen to change to a battery electric or hybrid vehicle as quickly as they can. To assist buyers wanting to make the switch to electric or hybrid as soon as possible, loan approval within 24 hours is available for many applicants. Applications can also be submitted and approved before selecting the vehicle. This can be highly advisable when demand for certain models is running hot. A situation which may start to emerge in the EV market. Apply for EV finance online or by phone and be ready to commit to your purchase on the first visit to the dealership. Get your financing, make your EV purchase and make fuel price fluctuations a distant memory. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) for competitive EV finance to beat the fuel price hikes.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Effect of EU Free Trade Agreement on Motor Vehicles](https://www.jadecarloans.com.au/blog/effect-of-eu-free-trade-agreement-on-motor-vehicles) **Published:** April 6, 2026 **Author:** Publisher **Excerpt:** The EU Free Trade Agreement is an agreement between Australia and the European Union to remove most tariffs on exports and imports between the two markets. **Content:** The EU Free Trade Agreement is an agreement between Australia and the European Union to remove most tariffs on exports and imports between the two markets. The free trade agreement (FTA) was 8 years in the making and finalised in late March 2026, but an implementation date is yet to be revealed. With Europe synonymous with luxury motor vehicles, buyers considering this end of the market can expect lower prices. But some vehicles will still be subject to the Luxury Car Tax (LCT). Some changes have been made to the LCT as part of the new agreement. The Chief Executive of the [Federal Chamber of Automotive Industries (FCAI)](http://www.fcai.com.au) Tony Weber said the tariff removal was a positive for Australian vehicle buyers. Saying it would bring Euro-sourced vehicles in line with vehicles from markets including Japan, Korea, Thailand and China. This is a major FTA for Australia with key outcomes for the motor vehicle sector. We unpack the details to clarify how the agreement may impact your next vehicle purchase. ## What is the EU Free Trade Agreement? The Australian Government has been in negotiations with the European Union (EU) around a trade agreement since 2018. The trade deal was secured on 24 March 2026 and is seen as lowering both the trade and the investment barriers between the two markets. The EU is the second largest economy in the world. While many of the benefits of the FTA will be for Australian exporters, especially in the agricultural sector, the agreement will have a positive impact on the motor vehicle market for Australian buyers. Prior to this agreement, a 5% tariff was imposed by Australia on EU vehicle imports. This has now been removed which will mean lower prices. ## LCT and EU Free Trade Agreement While the Euro vehicle market covers a wide price range, it is fair to say most models coming from Europe would be considered in the luxury or top end of the market. This means many models have been subject to Australia’s Luxury Car Tax (LCT). Adjusting this tax was apparently key to Australia reaching agreement on the FTA with the European Union. LCT is paid by the importer of the vehicle and included in the price paid by the buyer. The tax thresholds and rate can change each financial year and is currently 33%. Thresholds for 2025/26 are $80,567 for petrol vehicles and $91,387 for fuel-efficient models. As a result of the FTA, the threshold for models with zero emissions has been lifted to $120,000. This will make high-end EVs a lot cheaper and more accessible to more buyers. The FCAI’s Mr Weber sees the LCT change as ‘incremental’ and leaves what the Chamber considers an ‘outdated measure’ in place due to the closure of the vehicle manufacturing sector in Australia. ## Effect on Motor Vehicle Prices So what can buyers of European-sourced vehicles expect to happen with prices? The 5% tariff has been removed, but that would have been on the import/wholesale price, not the dealer’s selling price. But on some models, this will represent a significant price cut. More affordable prices will be available on many brands and vehicles more accessible to a larger buyer market. All models, from all Euro-sourced brands, across all price ranges should see reductions. The most impressive reductions will be seen on Euro EVs with the removal of both the import tariff and the lifting of the EV LCT threshold. Specific models to look for may be the Mercedes EQA, [Audi Q6 e-tron](http://www.audi.com.au), VW ID.Buzz GTX and [BMW iX3](http://www.bmw.com.au). Before rushing to the dealership for your reduced priced vehicle – you won’t see current stock prices reduced. The implementation date of the FTA is yet to be finalised. The tariff removal will only apply to new shipments after the agreement comes into effect. There would be no change to prices on Euro brand vehicles in the second-hand market. ## Effect on Vehicle Financing Changes to tariffs and LCT will not impact motor vehicle financing. The same credit products – [Secured Car Loans](/personal-car-finance), Lease, [Chattel Mortgage](/car-chattel-mortgage), CHP, will apply. There will be no change to credit facility features and, for business buyers, no change to tax deductions. The application requirements and assessment processes will remain unchanged. Interest rates are subject to decisions of the [Reserve Bank](http://www.rba.gov.au) and will not be directly impacted by the FTA. What will change for buyers of Euro-sourced vehicles is the vehicle price and hence the finance amount required. This can mean lower car loan repayments and/or the capacity to afford a more high-end vehicle with the lower pricing. Buyers will need to wait until new shipments received after the FTA comes into effect to see exactly what prices will apply to brands such as Mercedes-Benz, Lamborghini, Porsche, BMW and other Euro manufacturers. Estimates can be obtained using our [calculator](/car-finance-calculator) with your ‘guesstimates’ of the new pricing. **Buyers not wanting to wait until the EU Free Trade Agreement is finalised, can contact Jade Car Loans [1300 000 003](tel:1300000003) for competitive rates on Euro brand vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Where can buyers find best car finance rates with latest RBA rise?](https://www.jadecarloans.com.au/blog/where-can-buyers-find-best-car-finance-rates-with-latest-rba-rise) **Published:** February 16, 2026 **Author:** Publisher **Excerpt:** Following the RBA rate rise, buyers may find the best car finance rates using finance broker services to cover more lenders without affecting their credit score. **Content:** Following the RBA rate rise, buyers may find the best car finance rates using finance broker services to cover more lenders without affecting their credit score. With the Reserve Bank (RBA) raising the cash rate by 0.25% on 3 February, buyers will likely see some lenders increasing their rates on motor vehicle loans. But those increases and those lenders that do increase their rate, will vary across the market. Presenting buyers with a predicament. A time-consuming and, for some, a confusing process working through the extensive motor vehicle lending market to find which lender is offering the best rate. The process involves not only finding the lowest interest rate, but the lending product and the lender that suit the buyer’s requirements and credit profile. In carrying out this process – requesting quotes and applying for loans to compare, buyers risk damaging their credit score. Seeking expert, professional help from a broker can be an extremely advantageous decision for buyers to quickly find the most affordable loan. We explain why rates have been increased so soon after the last RBA rate cut and how buyers can still find their most affordable motor vehicle loan. ## Why did the RBA increase interest rates? Just 6 months after [the Reserve Bank](https://www.rba.gov.au "the Reserve Bank") announced a cut to the cash rate in August 2025, the bank announced a 0.25% rise to 3.85% on 3 February 2026. The first increase since 2023. The decision was highly anticipated due to the recent uptick in the rate of inflation and the latest unemployment figures. In announcing the Board’s February decision, RBA Governor Michele Bullock said that Board members considered the rate of inflation was likely to stay above the Bank’s target of 2-3% for a while yet. Ms Bullock said that conditions in the labour market remained tight, with a lower than expected unemployment rate. Uncertainties were noted re the outlook for economic activity and inflation domestically and on the global scene. The pick-up in the rate of inflation started in late 2025 and while temporary factors were initially thought to be responsible, it has become evident that demand is increasing faster than expected. Leading the Board to their assessment of inflation remaining above target for some time and hence the reason for the rise in the cash rate. The rate increase decision was unanimous. The RBA’s Monetary Policy Board next makes its decision on the cash rate on 17 March. ## What lenders offer the best car finance rates? When the RBA lifts the cash rate, there is an expectation that all interest rates will increase by a similar amount. That is not necessarily the case. The cash rate is an overnight lending rate between lenders and not the rate that applies to any specific lending product. Lenders are not compelled or obliged to pass on RBA rate cuts and increases to their loans. While home loan lenders typically do pass on RBA rate decisions to mortgage holders, this does not necessarily occur in other markets. Not all motor vehicle lenders will automatically follow RBA decisions. Some may anticipate an RBA decision and change their rate prior to the announcement. Some may follow the RBA lead and increase their rate by the amount of the cash rate rise, higher or lower. Some may prioritise being competitive and leave their rate as low as possible. The task for buyers is to find out which lenders are offering the best rate in the market following February’s decision. When comparing rates advertised by lenders, buyers should ensure that the loan product is right for them. That may include considering the maximum and minimum loan amounts, the terms available and that lender’s approval criteria. The rate will be different not only from different lenders but on different loan products. [Personal Secured Car Loans](/personal-car-finance) will have a higher rate than business vehicle loans – [Lease](/car-lease), Chattel Mortgage and Commercial Hire Purchase. Also note that [advertised rates](/car-finance-interest-rates) are for new vehicles and for applicants with a good credit score. To find the rate an individual buyer will be offered can require a quote request. Making multiple applications for the same loan may result in a negative impact on the credit score. Buyers can also use a finance broker. Brokers cover off quickly on many lenders, both banks and non-bank lenders, to find not only the best rate available, but the best rate on the loan product that meets the buyer’s requirements. ## Will a broker secure the best car finance rates? Securing the best rate will depend on an individual’s credit score, the amount being borrowed and other factors. Our brokers focus on achieving the lowest possible rate by finding the right lender and loan product, using our leverage in the market and structuring the loan to deliver affordable monthly payments. We advise buyers on how they may improve their prospects by reducing debt to improve the credit score and making a deposit to reduce the loan required. When using a broker, buyers may find their best rate without damaging their credit score. The interest rate outlook is uncertain. Some in the financial markets predict just the one increase this year while others are anticipating a second. The outcome will depend on how the inflation figures from [the ABS](https://www.abs.gov.au "the ABS") guide the RBA Board. Be confident that despite movements in the rate market you are securing your best car finance rates by using our broker services. **To secure your best car finance rates, contact Jade Car Loans on [1300 000 003](tel:1300000003).** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [To save money, should buy a second-hand car with finance? Compare New and Used Car Loans](https://www.jadecarloans.com.au/blog/to-save-money-should-buy-a-second-hand-car-with-finance-compare-new-and-used-car-loans) **Published:** March 20, 2026 **Author:** Publisher **Excerpt:** Buyers can compare new and used car loans for any savings by buying second-hand, using a Car Loan Calculator to estimate payments. **Content:** Buyers can compare new and used car loans for any savings by buying second-hand, using a Car Loan Calculator to estimate payments. The current economic scenario has interest rates rising following recent [Reserve Bank](https://www.rba.gov.au) cash decisions and the possibility of increased inflationary pressure on cash flow and budgets. Both businesses and individuals may be feeling the pinch. When needing to upgrade their vehicles, a priority for many will be seeking any way to save on their purchase. Will savings be found in the finance for a second-hand rather than a new vehicle? The answer is not a simple ‘yes’ or ‘no’. There are many aspects to be considered as finance on new compared with second-hand vehicles can vary. Yes, the purchase price of a second-hand model will be lower than the comparative latest model. This lower price should mean the buyer requires a smaller loan. A smaller loan should mean lower repayments. But the repayments will also depend on the interest rate and the term. Rates for used vehicle finance can be higher than for new vehicles. The rate will also depend on individual applications, the type of loan, the lender and the amount of the loan compared with the value of the vehicle. The term can depend on all those factors also. There are many variants to delve into. We explain the differences between new vehicle finance and loans for second-hand models, what other factors should be considered, and how buyers may save by securing their best possible interest rate and finance offer. ## Compare New and Used Car Loans – Interest Rates Interest rates on [second-hand vehicle finance](/used-car-finance) is typically higher than for new models. How much higher will depend on specifics of the individual application, loan product and lender. When browsing motor vehicle finance rates, understand that lenders will advertise their best rate for new vehicles, not second-hand. The exception being where it is specified that the rate is for used vehicles, such as through a second-hand car dealership. For a comparison of potential savings based purely on rates, the second-hand model does not offer a savings. But when the size of the loan is factored in, lower with a second-hand model, the repayments may be lower. A smaller dollar figure may be required to finance a used compared with a new model. This may represent a saving to the buyer. The amount of the loan compared with the value of the vehicle impacts the interest rate offered by lenders. This reflects the downpayment or deposit. No deposit financing is borrowing 100% of the purchase price. This may be approved for some applicants, most generally business buyers and on new vehicles. No deposit finance represents a higher risk to lenders than borrowing a lower percentage of the purchase price. Resulting in a higher rate than a loan which has a lower percentage of the purchase price. Making a larger deposit on a second-hand vehicle may contribute to a better rate and that sought-after saving. The type of interest rate should also be considered. A fixed rate loan will remain unchanged over the full fixed term. Variable rates are subject to change and can be higher than fixed rates. While we offer secured vehicle loans at fixed rates, not all car loans from all lenders will. Some can have a variable rate. If variable rates are increased by the lender in line with RBA decisions, the interest accrued and repayments will increase. Securing a fixed rate loan may represent a savings over the life of the loan, depending on the rate market. Use our [Car Loan Calculator](/car-finance-calculator) to see how interest rates and loan amounts change the monthly payment. ## Compare New and Used Car Loans Features In addition to considering the interest rate, buyers should consider all features of the lending product. There may be conditions that will impact the cost and some that may represent a savings. Both new and can be financed with a Secured Car Loan or Unsecured Personal Loan by private buyers and with Lease, [Chattel Mortgage or CHP](/overview-of-business-car-finance) by businesses. Unsecured loans do not require collateral and attract much higher rates which are usually variable. Secured finance products attract lower rates than unsecured loan. This may be of significance when purchasing a second-hand vehicle. New cars and quality second-hand models are generally accepted as collateral for secured lending products. But some second-hand vehicles may not be considered in good enough condition to be acceptable as collateral for a secured loan. In these cases, buyers will need to finance the purchase with an Unsecured Personal or Business Loan with a higher rate and possibly lower loan limit. Does the repayment term suit your needs? The term in conjunction with rate and loan amount determine repayments. If savings are seen as lower repayments, buyers will be seeking a loan with terms that delivers a monthly payment to suit their budget. New models typically can be approved for higher loan limits and more attractive terms than second-hand vehicles. ## Additional Considerations – New vs Used The loan amount may deliver a better rate – savings! Consider making a larger downpayment to lower the finance required. If trading in a current vehicle, dealers may offer a better trade-in price on their new model range rather than on second-hand stock. This trade-in can be used to reduce the price payable and the finance required – savings! When buying second-hand, buyers should give thought to what the maintenance and repairs on the vehicle may cost over the coming years. Most new vehicles will cost less in regular servicing with many brands offering special deals over the first few years of ownership. ## Securing Affordable Used Car Loans For exact figures to compare new and used car loans, request a quick quote on both models. We have access to many lenders, and our brokers will ensure you have secured you best rate and can realise any savings available on the purchase of your motor vehicle. **Contact a Jade Car Loans broker on [1300 000 003](tel:1300000003) for quotes to compare new and used car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [How much do you need to earn to get a car loan? Income Requirements for Car Finance](https://www.jadecarloans.com.au/blog/how-much-do-you-need-to-earn-to-get-a-car-loan-income-requirements-for-car-finance) **Published:** March 4, 2026 **Author:** Publisher **Excerpt:** Income requirements for car finance approval depend on the size of the loan, borrowing capacity, balance sheet, credit score, credit product and lender criteria. **Content:** Income requirements for car finance approval depend on the size of the loan, borrowing capacity, balance sheet, credit score, credit product and lender criteria. Earnings alone are not a measure of whether or not an individual or a business is approved for a loan. Lower wage earners can be approved for a car loan if they have lower outgoings, good credit and meet other requirements. While high earners may not receive approval for the amount they want to borrow, if they do not meet the credit profile guidelines and other criteria. When reviewing a loan application, a lender is looking at the complete financial position picture of the individual or business. How much the individual or business earns will be an important consideration, but it is not considered in isolation. Private buyers must also meet [ASIC](http://www.asic.gov.au "ASIC") criteria for consumer credit and business buyers must have an ABN. All applicants must have ID. Specific criteria for loan approval can vary with the type of loan product and with the bank or finance company. Getting an application approved with a good interest rate offer can start with applying to the lender with the criteria in line with the individual or business financial position and credit profile. That is where we start in assisting vehicle buyers with their vehicle financing requirements. While deciding which vehicle you may like to purchase, take a minute to consider both the income requirements for car finance and the other guidelines for approval and for being offered the best rates. ## How Income may Affect the Loan Amount How much you earn does have an effect on how much you can borrow. Lenders look at earnings along with regular expenses and debt – the balance sheet. This analysis determines the borrowing power – that is how much that lender will allow you to borrow. The better the balance sheet – earnings far exceeding outgoings, potentially the higher the borrowing power. Requesting this figure before selecting a vehicle, can be extremely useful in setting the buying budget. We can assist with providing buyers with this information with conditional loan approval. From that point, buyers still need to get their application approved for the price of the vehicle. The borrowing power is a guide. Approval will depend on the ratio of that amount to the value of the car to be purchased. This review by lenders will take into account the credit profile and the vehicle. ## Personal Income Requirements for Car Finance & Other Criteria To be approved for [personal vehicle financing](/personal-car-finance), you will need to have sufficient earnings after regular expenses are met, to meet the loan repayments. Lenders assess this aspect of the application according to the [ASIC](http://www.asic.gov.au "ASIC") Consumer Credit Laws which include guidelines for all providers of consumer credit. Under these laws, the credit provider is not permitted to approve a loan that is unsuitable for the applicant. Applicants will need to have their income verified by providing payslips and tax returns, and other earnings documents. Details of expenses and debts need to be provided along with ID, Australian residency status, place of residence and applicants must be over 18. Credit scores play an integral role in getting loan approval and in being offered the best rate. Credit scores are not dependent on income so keeping a good credit history regardless of how much you earn, is extremely important when applying for financing. ## Business Income Requirements for Car Finance For businesses seeking commercial vehicle financing, the income will be a consideration for lenders. Some commercial credit lenders do have minimum turnover requirements in addition to a minimum 12-24 months trading period for approval for business vehicle finance. Businesses also require an ABN, ID and to provide their financial documentation. New and start-up businesses that are yet to start earning or have only small turnover in the early stages of their business may apply for [Low Doc Vehicle Loans](/low-docs-car-loans-for-business-vehicles).[ ](https://www.jadecarloans.com.au/low-docs-car-loans-for-business-vehicles)Personal financials and credit score of the business owner are typically assessed with the loan application. ## Guide and Tips for Lower Earning Individuals While all individuals will likely be seeking the lowest loan repayments possible, those on lower incomes may be particularly focussed on this aspect of their loan. That can start with being offered the lowest rate. Best rates are offered to applicants with a good credit record. Maintaining a good credit score by meeting regular payments on time can be critical. Source a copy of your credit report with the guide at [Moneysmart](http://www.moneysmart.gov.au "Moneysmart") to see where you currently stand. Lowering the amount you need to borrow to buy the car will reduce the repayments. Consider a lower priced vehicle or making a larger deposit. Utilise the services a motor vehicle finance broker to find your most suitable lender and most affordable loan with repayments that best meet your budget requirements. **Contact a Jade Car Loans broker on 1300 000 003 to discuss your income requirements for car finance approval.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Buy now or wait for new car models for 2026? Weigh up the pros and cons](https://www.jadecarloans.com.au/blog/buy-now-or-wait-for-new-car-models-for-2026-weigh-up-the-pros-and-cons) **Published:** February 2, 2026 **Author:** Publisher **Excerpt:** Buyers deciding to purchase now or wait for new car models for 2026 may take consider possible new vehicle price rises and interest rate prospects for financing. **Content:** Buyers deciding to purchase now or wait for new car models for 2026 may take consider possible new vehicle price rises and interest rate prospects for financing. Many vehicle owners do upgrade early in a new year while others will be waiting for the release of the latest model from their preferred manufacturer. Investing in a new vehicle, especially with finance, can be a significant decision for many buyers – businesses, individuals and households. The timing of the purchase can have impacts on many aspects including the price of the vehicle, the model options available and the motor vehicle loan. So, is it best to buy right now or wait till later in the year when the new releases are in showrooms? We present a range of discussion points for buyers to factor into their own decision-making process. ## Reasons not to Wait for New Car Models for 2026 One of the biggest reasons not to wait is vehicle pricing. Let’s face it. New releases will be at a higher price than current models. Over the past few years there has been significant price jumps when the latest model in a range is launched. Reasons for these price hikes include global inflation, extra tech and features and simply that it is what happens! But in 2026 there is another reason why buyers may see price increases on new releases – NVES. That is the [New Vehicle Efficiency Standard](https://www.infrastructure.gov.au/infrastructure-transport-vehicles/vehicles/new-vehicle-efficiency-standard "New Vehicle Efficiency Standard") which was introduced by the Federal Government on 1 January 2025. The policy aims at making more low and zero emission vehicles available for Australians and penalises manufacturers that have too many non-compliant models in their range. The result has been some manufacturers removing certain petrol models from their range so that they meet compliance. For others with the highly popular diesel cab chassis models, it can mean they face penalties. According to reports, most manufacturers have indicated that this penalty will be passed onto buyers with higher pricing on some models including SUVs and utes. Buying a current model rather than waiting for new releases later in the year may represent a significant saving on the purchase price. Buyers may also score discounted pricing at run-out sales and on models that are being discontinued, if they buy now. With the economic forecast looking like it could be another year for consumers to watch their spending, that saving could be significant, especially over the term of the car loan. ## What are the new car models for 2026? For those that really want the latest vehicle, there will be plenty to consider as the year rolls on. According to motoring experts, Australians will see new brands hitting the market along with new models in 2026. We’ve seen several new Chinese brands arrive in recent years with affordable pricing, and that looks set to continue. The experts at Drive advise that buyers can look forward to new releases of the RAV4 and Mazda’s CX-5 as well as the VW Amarok, Navara and Musso. At the top end of the market, early in the year should see the latest from Aston Martin hit the showrooms. While if you want the latest Ferrari, you will need to wait until later in the year. For those who don’t want to wait, several new Kia and Toyota HiLux models are already available. For a full calendar of what is expected, refer to the [Drive](https://www.drive.com.au/news/2026-new-car-calendar-for-australia-every-car-suv-ute-coming-soon/ "Drive") experts who have done the work for you. ## Vehicle Finance Comparison – Current vs New Car Models for 2026 For most, if not all buyers, costs will be the major consideration of a new vehicle purchase, especially with the costs-of-living pressures of 2025. That may involve a focus more on the finance than the purchase price – what will the vehicle cost in monthly loan payments. The cost of vehicle finance is very much driven by the interest rate. Lenders set their own rates for their car loan products but tend to use the Reserve Bank rate decisions and the cash rate as a guide. The rate forecast for 2026 across the markets appears to be for rate rises this year. Inflation spiked in late 2025, the energy bonus has ended, and the latest employment figures point to an RBA rate increase early in the year. Any cash rate increase could mean an increase in vehicle lending rates. Buying now could mean achieving a lower rate than waiting until later in the year. Buyers may also secure a better rate by borrowing less by making a higher down payment and by improving their financial position by reducing debt. To prepare budgets for comparing current model with possible new model pricing, use our [Finance Calculator](/car-finance-calculator) and our latest rates as a guide. Rates vary with [Personal Car Loans](/car-finance-interest-rates) and Business Vehicle Finance so ensure you use the correct rate to obtain the most appropriate repayment estimates. To be ready to buy and to set a buying price range, buyers can contact us for pre-approved finance. Loans that are approved before the purchase. This will provide you with how much you are approved to borrow which may determine the vehicle you can afford and streamline the selection process. **For finance quotes on current or new car models for 2026, contact Jade Car Loans on [1300 000 003](tel:1300000003).** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What is the best new business vehicle finance?](https://www.jadecarloans.com.au/blog/what-is-the-best-new-business-vehicle-finance) **Published:** January 5, 2026 **Author:** Publisher **Excerpt:** The best new business vehicle finance is the commercial credit product that suits the accounting method, tax and balance sheet approach and goals of the entity. **Content:** The best new business vehicle finance is the commercial credit product that suits the accounting method, tax and balance sheet approach and goals of the entity. The beginning of a new calendar year is a popular time for many individuals to take the big step into self-employment. Many will require a vehicle as a tradesperson, delivery contractor, agri operator, or as a business owner. Whether it’s carrying gear, making pick-ups and deliveries, travelling to customer meetings and service calls, or general purposes, a motor vehicle is integral to many commercial operations. Many will also require financing for that vehicle. To ensure the operation gets off to the best start possible, business owners should consider their loan options carefully. Not all loan products are the best for all businesses. The type of loan used to fund assets such as motor vehicles, can have a significant impact on the financials of the operation. As specialists in commercial vehicle financing, we explain the loan options available, what is required to get approved, and how we may assist operators to secure their cheapest car loan. ## Eligibility for New Business Vehicle Finance All types of business structures and set-up can be eligible for commercial credit products for motor vehicles. An individual setting up as self-employed may structure their operation as a sole trader, an ABN-only holder, partnership, trust, or as a Pty Ltd company. All are eligible for commercial financing. The essential requirement for commercial financing is to have ID and an ABN. The ABN may be newly acquired. GST registration is not an essential requirement but can be considered a positive by some lenders. The loan application requires applicants to provide records of their financials, typically for at least 12 months or 24 months. These records include annual accounts, tax returns, current accounts and turnover, profit and loss statements, asset and liability schedules and BAS returns. Some lenders also require the enterprise to have been trading for a minimum of 12-24 months. As a new business that is just setting up or has only been operating for a few months, will clearly not have the 12-24 months trading history or financial documents. Where the operation does not meet those requirements, they may consider sourcing [Low Doc Vehicle Financing](/low-docs-car-loans-for-business-vehicles) through Jade Car Loans. These eligibility criteria apply to loans for all types of vehicles, new and second-hand. ## New Business Vehicle Finance Products Whether with full or low documentation, the same selection of loan products applies for all types of commercial entities and all types of vehicles. The commercial credit products to fund business vehicles are Chattel Mortgage, [Lease](/car-lease) and Commercial Hire Purchase. All are secured format loans where the vehicle is used as the collateral for the loan. Each credit product has its own features and benefits which will suit different commercial set-ups. All can be used to fund all types of vehicles including popular cab chassis models such as the [Toyota HiLux](https://www.toyota.com.au/hilux "Toyota HiLux"), commercial vans like the Ford Transit, prestige business sedans from [Audi](https://www.audi.com.au/en/) or Mercedes Benz with all power units – petrol, diesel and EV models such as [Tesla](https://www.tesla.com/en_au "Tesla"). ## Variations with New Business Vehicle Finance A key difference with commercial credit facilities is their compatibility with accounting methods. Chattel Mortgage is compatible with the cash method, Lease with the accruals method and CHP with both. Variations can be found between loans for new and second-hand vehicles. While good condition second-hand vehicles are typically accepted as security for the loan, different loan amounts, terms and rates may apply compared with new vehicles. Ownership of the car while under financing varies. With Chattel Mortgage and CHP the enterprise has ownership from settlement while the lender holds ownership with Leasing until the loan is finalised. [Interest rates](/car-finance-interest-rates) vary with the credit product and will also vary for individual loan applications. Chattel Mortgage and CHP offer the lowest rate while Lease is slightly higher. New operators may be seen as higher risk that long-established operators and may expect a higher interest rate loan. New operators may also expect that their personal financial information and credit history will be requested and assessed by lenders. Additional collateral may be required with personal assets not under finance used. Where low doc and no doc car loans are required, there will be variations in the loan amount approved and rate offered, compared with loans secured with full financial documentation. ## Deciding Your Best New Business Vehicle Finance So which is the best car loan for your new operation? To make the decision as to the most suitable credit product, it is advisable to discuss the matter with an accountant. The accounting method that the accountant has recommended for your operation may be key. The approach to the balance sheet in regard to ownership of the vehicle during the loan term is another key deciding factor. Many start-ups prefer not to have large assets on their books as it may hamper their efforts to take on further financing. Tax deductions are available on all commercial credit facilities. Achieving the best interest rate will be important to most new operators to ensure they keep their repayments as low as possible to support the operation in its initial phases. We have access to a very large selection of lenders and can assist with sourcing the best car loan rates. **If you’ve made the decision to work for yourself and need a car loan, [contact Jade Car Loans](/contact-us "contact Jade Car Loans") on 1300 000 003 for your best new business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Is it better to take cash or trade-in when buying new car with finance?](https://www.jadecarloans.com.au/blog/is-it-better-to-take-cash-or-trade-in-when-buying-new-car-with-finance) **Published:** November 26, 2025 **Author:** Publisher **Excerpt:** When buying a new car with finance, any trade-in value can reduce the new loan but taking the cash for the trade may be useful for easing personal finances. **Content:** When buying a new car with finance, any trade-in value can reduce the new loan but taking the cash for the trade may be useful for easing personal finances. Buyers are faced with many decisions when upgrading their current vehicle to a new vehicle with new finance. One of those decisions is around whether to use the vehicle as a trade-in, or take any cash offered from private sale or the dealer. When buyers have an existing vehicle, they may be offered the option of trading in the vehicle on the new one for a discounted purchase price. Some dealers may offer a cash payment for the existing vehicle in lieu of the trade-in and discount. Buyers may choose to sell the vehicle privately for cash. A key driver of the best option may be if money is outstanding on the finance on the vehicle being traded in. If the current vehicle is under finance, any proceeds from any sale or trade-in would typically be used to payout the loan. Dealers and private buyers will check [the PPSR](http://www.ppsr.gov.au "the PPSR") to see if a vehicle is under finance. If so, they would want the loan finalised before they take ownership. If there are no monies owed on the vehicle, then which is the best option – cash or trade-in? We present a range of considerations which may assist buyers with deciding which is most advantageous for their circumstances. ## Taking the Cash When Buying New Car with Finance Taking the cash option may be available by selling the vehicle privately or effectively to the new vehicle dealer. Depending on the vehicle, private sales may deliver better pricing than a dealer is prepared to offer. If the dealer is not that interested in having your current vehicle on their used car lot, the price offered may not be that attractive. Dealers need to on-sell the vehicle and typically offer what is known as a trade price. The difference between private and dealer pricing can be significant. But buyers also need to consider what can often be a complicated process to sell vehicles on the private market. Accepting the cash rather than opting for the trade-in may be of assistance if the buyer has other outstanding debts. The cash may be useful for other purposes such as the vehicle insurance. Alternatively, cash from a private sale may be used as the deposit on the new vehicle. This would require the current vehicle to be sold prior to buying the new vehicle. A process which may be time-consuming and lengthy, depending on the popularity of the vehicle in the used car market. Depending on personal circumstances, any cash received from effectively the sale of a motor vehicle may need to be included in tax return. Tax may be payable. Individuals and businesses should refer to an accountant on tax related matters. With the cash taken the new loan required would be on the full purchase price, less any downpayment. ## Using Trade-in When Buying New Car with Finance The process of trading in a vehicle involves the dealer offering a price which is either used to payout any existing loan and/or provide a discount on the price of the new vehicle. As with the discussion on selling for cash to a dealer, the amount offered for the trade-in will depend on the new vehicle, the trade and the dealer. Some buyers are quite shocked with how little their current vehicle is worth as a trade-in. Dealers will be on-selling the vehicle and may need to effect repairs to get the vehicle into the best condition. Dealers typically offer a trade price. Depending how keen the dealer is to make the new vehicle sale may determine how much discount the buyer receives off the purchase price. This can be significant when taking on finance for the new vehicle. The amount of the trade-in comes off purchase price. This can mean a lower loan amount is required. A lower loan amount means lower repayments but may also contribute to securing a lower interest rate. Lenders consider the amount of the loan compared with the value of the vehicle that is being used as collateral for a [Secured Car Loan](/secured-car-loans) or for business vehicle finance products. The lower the loan the lower the risk and potentially the lower the interest rate. ## Business Vehicle Finance Considerations It may be advisable for business vehicle buyers to speak with their accountant on the cash vs trade-in decision. The accountant can advise the most tax-effective option which may depend on the finance product selected – [Leasing](/car-lease), Chattel Mortgage or Commercial Hire Purchase. For example, if using the trade-in to reduce the finance required, is the entire purchase price subject to tax deductions or just the finance payments with Leasing? Similar questions may need to be answered regarding depreciation with Chattel Mortgage and CHP. Would the full value/purchase price be depreciated value or only the loan amount? Taking the cash from a private or dealer sale may need to be claimed as income and capital gains tax may apply. ## Tools to Assist with Buying and Financing Decisions Use [our Finance Calculator](/car-finance-calculator) to assist with your decision. Work up loan payment estimates based on different finance amounts and request a quote from one of our brokers. **To assist in deciding whether to take cash or trade-in when buying new car with finance, request new vehicle finance quotes from Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [With no RBA rate cut - how can buyers get lowest car loan interest rates?](https://www.jadecarloans.com.au/blog/with-no-rba-rate-cut-how-can-buyers-get-lowest-car-loan-interest-rates) **Published:** November 14, 2025 **Author:** Publisher **Excerpt:** With no RBA rate cut, buyers seeking the lowest car loan interest rates can consider their financials, borrowing less and using a broker for more lenders. **Content:** With no RBA rate cut, buyers seeking the lowest car loan interest rates can consider their financials, borrowing less and using a broker for more lenders. The September quarterly inflation report came as a surprise to many analysts and the Reserve Bank. The underlying inflation rate, a key indicator for the RBA when it comes to rate changes, jumped to 3%. Headline inflation is 3.2%. The RBA’s target for inflation is 2-3%. Market expectations appear to be that inflation will not ease back until well into 2026. If there are no RBA cash rate cuts in the foreseeable future, that could mean lenders will also not be lowering their rates. Leaving buyers looking for the best vehicle finance rates looking for other ways to reduce their loan commitments. We outline what the [Reserve Bank](http://www.rba.gov.au "Reserve Bank") said about future rate cuts and actions that buyers can take to ensure they secure the most affordable vehicle finance rates on the market. ## When will there be an interest rate cut? The Board of the Reserve Bank met on 4 November and announced the decision to leave the cash rate on hold at 3.6%. RBA Governor Michele Bullock said temporary factors were the reason for some of the rise in inflation in the September quarter. Ms Bullock said that while activity in the domestic economy was recovering, the outlook both domestically and globally remained uncertain. As is usual, the media statement announcing the monetary policy decision did not include an indication as to future decisions. In the media conference following the decision, a journalist asked if the RBA needed to start tempering expectations around future cuts. Ms Bullock reply was quite technical in regard to forecasts for inflation getting back to around 2.6% by mid-2027. But noted that the further out forecasts are made, the more uncertainty is to be considered. Based on the inflation figures and November decision, the general commentary by analysts is for no further rate cuts until 2026. For buyers planning to buy a new vehicle early next year, some analysts are commenting that a February cut may be on the cards, but not assured. ## Does price affect lowest car loan interest rates? Buyers looking for ways to achieve their best finance rates can essentially look at how much they are borrowing. Particularly in relation to the price of the vehicle. The price of the vehicle itself may not determine the rate offered, but the amount borrowed will. Lenders will assess personal finance applications to determine the credit limit for the individual. By borrowing less than the price of the vehicle, the loan represents a lower risk to lenders. Subsequently, a better rate may be offered. To achieve a lower borrowing and potentially a better rate, buyers can consider increasing their down payment, buying a cheaper priced vehicle, or negotiating a better price with the dealer. When looking for a better new vehicle deal, buyers may consider the less popular models. According to the November car sales figures from the [FCAI hybrids](http://www.fcai.com.au "FCAI hybrids") are selling well but EVs not so well. Cab chassis models such as HiLux and Ranger continue to top the sales charts along with SUVs. But passenger vehicles continue to be less popular with buyers. Dealers may be in a position to offer a better deal on their less in-demand models. One issue to keep in mind, if you’re considering waiting to buy until rates do go down, there is the possibility that vehicle prices could rise in the interim. Using a [Finance Calculator](/car-finance-calculator) to work up estimates based on different rates and different vehicle prices, may clarify the scenario and assist with buying decisions. ## Do Your Financial Housework An important aspect of achieving the best possible interest rate and overall finance conditions is to address the financials before applying. That includes debts and credit card limits and credit score. Removing errors from the credit report if they appear, having a credit card limit reduced by the bank, and finalising other loans may contribute to a better loan offer. ## Why shouldn’t you shop around for lowest car loan interest rates yourself? Shopping around the lending market for the best rate would seem a sensible thing to do. But individuals may not be aware that applying for the same loan from multiple lenders can have a negative effect on their credit score. A more effective way to cover off on a large lending market for the best rate is to use a specialist motor vehicle finance broker. When we do the work to find the best current market rate for you, it does not affect your credit score. We also provide access to a large lending market and lenders not available directly to buyers. [Review our current rates](/car-finance-interest-rates) as a guide and connect with us to have your best vehicle finance rate secured for you. **To secure your lowest car loan interest rates, contact Jade Car Loans 1300 000 003 by phone or online.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What is pre-delivery car finance?](https://www.jadecarloans.com.au/blog/what-is-pre-delivery-car-finance) **Published:** November 3, 2025 **Author:** Publisher **Excerpt:** Pre-delivery car finance are loans for motor vehicles which are arranged and conditionally approved before the vehicle is available for purchase or delivery **Content:** Pre-delivery car finance are loans for motor vehicles which are arranged and conditionally approved before the vehicle is available for purchase or delivery. Vehicle manufacturers often offer a pre-order opportunity, or expressions of interest, on cars ahead of their availability in local dealerships. This is a common practice with high-demand, limited stock and limited-edition models. Buyers that are keen to purchase these cars can place their order ahead of the release and ensure they have secured their vehicle. Pre-ordering may require a holding deposit to be made or simply an expression of interest. Typically, pre-orders do not carry the obligation to proceed if the buyer changes their mind when they get to inspect and test-drive the vehicle. The holding deposit should be refundable, depending on the conditions of individual offers. Before pre-ordering, many buyers will want to be assured that they do have access to the financing to finalise the purchase when the vehicle is available. These buyers can apply for a pre-delivery car loan. ## Pre-delivery Car Finance Specifics Pre-delivery car loans are essentially pre-approved loans but often arranged further in advance than most pre-approved loans. Pre-delivery loans may be sought many months ahead of taking delivery. Where the pricing has not been confirmed by the manufacturer, buyers will need to estimate the amount they need for their loan. Dealers will generally provide a price guide that buyers can use for this purpose. The buyer applies for their loan based on that price guide and their current financials and credit profile. The interest rate will be based on rates at the time of application. The loan is conditionally pre-approved as the interest rate and repayments will be subject to the timing of when the loan is required and the exact loan total. The approval is deemed ‘conditional’, which means approval is conditional on the final pricing and loan required, and interest rates at the time that the loan is finalised. Rates may change over the time between applying and delivery. The buyer’s financial position may also change. This may result in the rate and repayments differing from the figures advised with the pre-delivery loan. When the delivery date nears, buyers can contact their Jade broker to have their loan confirmed based on the final figures. These would include the loan required based on the specific vehicle purchase price, and the current interest rates. If rates and the buyers credit position have not changed in the interim, the loan repayments would be the same as pre-approved, subject to any loan total variations. If the buyer is happy with that loan offer, the loan is finalised based on the exact figures and the buyer can take delivery of their vehicle. If the buyer decides not to proceed, any loan offer made with the pre-delivery loan approval does not need to be accepted. There is no obligation attached to pre-delivery loans. ## What type of loan is pre-delivery car finance? Finance arranged prior to taking delivery of a vehicle is not limited to any one type of loan. Approval before delivery can be arranged on all vehicle credit products. The same features and benefits of the product will apply, regardless of when the loan is applied for, approved and finalised. Buyers of new vehicles for private use will typically select a [Secured Car Loan](/personal-car-finance), where the vehicle is used as the loan collateral. Fixed rates, terms and repayments apply. Business vehicle buyers can select from Lease, [Chattel Mortgage](/car-chattel-mortgage) or Commercial Hire Purchase. The vehicle is accepted as loan collateral, a balloon or residual is available, tax benefits are available, and fixed rates, terms and repayments apply. Many business buyers can be approved for no deposit financing. ## What is the advantage of car finance before delivery? An advantage of pre-delivery loans is that buyers who are unsure if they will be approved for the loan amount required can receive their answer. With finance approval received, buyers can confidently commit to the pre-order and be assured that they will obtain their vehicle. This can be especially beneficial where only limited stocks of a vehicle are set to be available. With conditional pre-approval, buyers can budget their finances ahead of taking delivery to allow for the repayments. They may also consider including accessories and any upgrades or extra packs in the vehicle order prior to delivery. ## Who needs pre-delivery car finance? Many buyers may choose to apply for their car loan well ahead of taking delivery of the vehicle. They may be unsure of their borrowing capacity and credit rating and want to be assured they will be approved for finance for the amount they require. Delayed deliveries and short supply are another good reason to consider getting the loan approved early. During COVID, many vehicle manufacturers were facing manufacturing issues which caused delivery delays of a range of popular models. Many buyers placed pre-orders to ensure they received their vehicles when the first shipments arrived. Reports at the time were that many of the shipments were 100% pre-orders. Many of those buyers will likely have obtained conditional pre-delivery loans. While those issues seemed to be resolved, there are makes and models which are previewed and teased ahead of arrival in Australia. A current example may be buyers keen to confirm their order on the new [Ford F-150](https://www.ford.com.au/showroom/trucks-and-vans/f-150/ "Ford F-150"). Key details, including pricing, of the new F-150 Platinum have been released, and dealers are accepting orders. Delivery is scheduled for early 2026. Keen buyers can apply for pre-delivery loans to confidently place their order. **To apply for pre-delivery car finance, contact Jade Car Loans 1300 000 003 by phone or online.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Car sales surprise – Kia takes to the podium ahead of Mazda](https://www.jadecarloans.com.au/blog/car-sales-surprise-kia-takes-to-the-podium-ahead-of-mazda) **Published:** September 22, 2025 **Author:** Publisher **Excerpt:** Kia has taken third place in monthly new car sales figures for August, behind Toyota and Ford, and overtaking Mazda for this first time since 2022. **Content:** Kia has taken third place in monthly new car sales figures for August, behind Toyota and Ford, and overtaking Mazda for this first time since 2022. The impressive result coincides with the release of the Tasman, the brand’s first dual cab pick-up ute, as well as several new hybrid and electric vehicles. With Kia now on the new car sales podium, the top ten selling brands for the month are – Toyota out in front, then Ford and Kia, Mazda now in fourth spot, Hyundai, BYD, Mitsubishi, GWM, MG and Chery. Sales on a year-to-date basis still has Toyota out in front but followed by Mazda, Ford and then Kia. In announcing the data for August car sales, Tony Weber, Chief Executive of the [FCAI](http://www.fcai.com.au "FCAI") noted that it was the first time that the top ten brands list included four brands from China. Commenting, that this showed how the landscape in Australia’s car sales continues to evolve and how buyers are adapting to the many new options available to them. Buyers of new cars in Australia have over 400 models to select from, including approximately 100 electric vehicles. Making that buying decision a challenge. Referring to the monthly sales figures of new cars may provide some inspiration and direction. ## Buyer Inspiration – August New Car Sales Plenty of buyers were in the new vehicle market in August, with the monthly sales making it the second biggest August for sales on record. The SUV segment continues to be the most popular with 60% of sales and the passenger car segment again falling. Plug-in hybrids have 3.9% of the new car market and EVs 6.8%. Interestingly, while Kia recorded strong overall sales to lift it into third place in the brand sales, no individual models made it into the top 10 best-selling models for the month. Although their Sportage SUV did outsell the very popular Mazda CX-5 in August. The Sportage has recently been updated and could be worth a look for those in the market for a mid-sized SUV for their Christmas, road trip holiday. The 10 best-selling models for August were headed up by, as usual, by the Ford Ranger just ahead of the Toyota HiLux. Toyota’s RAV4 was third, ahead of the MG ZS and then the Tesla Model Y. Number 5 was the Isuzu D-Max, then Ford’s Everest, Toyota Prado, Hyundai Kona, and finally the Toyota Corolla. ## Kia Models to Consider With [Kia](https://www.kia.com/au/main.html "Kia") on the third step of the monthly sales podium, buyers should probably have closer look at their model range and find out for themselves why so many other drivers have decided on this brand. The range is extremely inclusive with options for many buyers, especially with the new Tasman ute. The top models are the Sportage, Carnival, Seltos, Tasman and the Picanto, one of only a few small car models still in the market. The electric models are the EV5, EV3 and EV9 SUVs and the cross-over SUV models – EV6 and Niro EV. The hybrids are the Sportage, Sorento, Carnival and Niro HEV. Cab chassis buyers can consider Kia’s first – [the Tasman](https://www.kia.com/au/cars/tasman/features.html "the Tasman"). This one-tonne ute is available in 5 grades with 4×2 and 4×4 off-road capabilities. The engine is 2.2 litre turbo diesel, and the ute features an 8-speed auto transmission. The payload is 1,000kg and quoted braked towing capacity 3,500 kgs. Tasman has a GCM rating of 6,200 kgs and GVM of 3,250 kgs and a massive tub capacity. Pricing we sourced – as low as around mid $40K for the 4×2 and high $60ks to early $70ks for the more top of the range. Use those prices as a guide in our [Finance Calculator](/car-finance-calculator) to compare the different variants and get quick loan estimates. ## Secure Competitive Kia Finance Enhance the affordable pricing on the Kia range with our competitive finance rates. Ensuring the purchase is a value acquisition and that the monthly loan payments work with your family budget or business cash flow. All car loans secured through Jade, both [personal car loans](/personal-car-finance) and [business finance products](/overview-of-business-car-finance), are individually sourced and negotiated by our brokers. We use our vast lender connections to secure the most [competitive rates](/car-finance-interest-rates) in the market. Compare our current rates to use as a guide to possibilities. If tossing up over the medium SUV Sportage or the larger Sorento, petrol or EV, if cost is the deciding factor, use our Car Finance Calculator to compare repayments on different priced models. If wanting to move quickly to secure your vehicle, apply for your finance before heading to your local Kia dealership. **With Kia the third best-selling vehicle brand for August, consider their range and contact Jade Car Loans 1300 000 003 for competitive Kia finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Get a big ute without big loan payments. Competitive rates on latest model Ram Trucks Finance  ](https://www.jadecarloans.com.au/blog/get-a-big-ute-without-big-loan-payments-competitive-rates-on-latest-model-ram-trucks-finance) **Published:** September 3, 2025 **Author:** Publisher **Excerpt:** Ram Trucks finance on the new Rebel model for business and private buyer is available through Jade Car Loans at the most competitive rates in the market. **Content:** Ram Trucks finance on the new Rebel model for business and private buyer is available through Jade Car Loans at the most competitive rates in the market. With price tags on the variants of the new Ram 1500 models in the $142,00-$160,000 range plus on-roads, securing the best rates on financing could be a major factor for many buyers. Enabling buyers to secure a big ute, or in the US a pickup truck, without big loan repayments. Supporting business operators to maximise the productivity gains from this rugged workhorse without pressuring cash flow. The release of the new Rebel model in Australian showrooms coincides with the US-based brand’s 10-year anniversary selling down under. Whether looking for a rugged, off-road vehicle to tow a boat, caravan or adventure off the black top, or for a work vehicle which will handle the toughest jobs and environment, the new Rebel Hurricane could be well worth considering. ## New Ram Rebel Model Features The [new 1500 Rebel](https://www.ramtrucks.com.au/ "new 1500 Rebel") is an off-road model, powered with Ram’s 3.0 litre 6-twin turbo Hurricane engine which delivers 420HP. Rugged on the performance scale but with luxury inclusions. The key features are extensive and include 1” raised ride height, sport styling, off-road shocks, fuel tank skid plates and front cross member and Select-Speed cruise control off-road as a standard inclusion. On the inside, the features continue with a 10.25” front passenger screen, 14.4” touchscreen, a premium sound system, and stylish red trims. Safety features include blind spot monitoring with trailer detection and forward collision warning. Buyers can choose their colour from white, red and blue. There is plenty more to check out on the new Rebel including some great accessories. Buyers that include their accessories when ordering their vehicle, can usually have the cost included in their finance package. To streamline the purchase process, buyers can arrange their financing before heading to the Ram Trucks showroom for an up-close and test drive. With the loan confirmed, buyers can be in the ideal position to confirm their purchase on the first visit and potentially secure any variants in limited stock. ## Ram Trucks Finance – Private Buyers The new Rebel could be your perfect vehicle for towing the boat or caravan or loading up with dirt bikes or other sporting gear. A vehicle that will handle what even the most adventurous have in store. The most suitable loans for the Rebel model for private buyers will be a Secured Car Loan. This credit product allows for the ute to be accepted as the loan collateral. With the loan secured with the vehicle, lenders offer their best fixed rates on secured finance. Rates will vary across the market and for individual applicants. The deposit required will be dependent on the percentage of the purchase price that an individual loan applicant is approved to borrow. Trade-in vehicles that are not under finance, may be used to reduce the purchase price and the loan amount required. A smaller loan compared with the value of the vehicle may attract a lower interest rate. ## Ram Trucks Finance – Business Buyers Business operators looking to invest in a Rebel to handle tough working environments, can finance their acquisition with Lease, [Chattel Mortgage](/car-chattel-mortgage) or Commercial Hire Purchase. Finance is individually sourced and structured to best suit the objectives of the business, optimise tax benefits, and minimise repayments. ## How to Get Competitive Ram Trucks Finance Rates Acquiring a large ute like the Rebel can be a significant purchase for many buyers. To make a new Rebel a workable choice, the financing may need to be the most affordable possible, starting with the interest rate. Achieving the lowest rates can depend on a number of factors. Two of the most significant – the choice of lender and the individual’s credit score. Motor vehicle finance rates vary across what is a very large lending sector. Buyers may maximise their opportunities and minimise the time to find their best rates by using our Jade experts. We have access to over 80 lenders and the expertise to find the best rates quickly. Compare our [current rates](/car-finance-interest-rates) as a guide to the possibilities. Being offered the best motor vehicle loan rates also depends on the credit score of the applicant. The best rates are offered to applicants with good scores. Maintaining a good credit history and a favourable balance sheet may result in the lowest rates and the best finance offer. ## Estimate Your Ram Rebel Finance Buyers can start planning finance on their new Rebel using our [Finance Calculator](/car-finance-calculator). Use the pricing of around $142K plus on-roads for Rebel and the rate for the required loan product, buyers can quickly get estimated repayments. Use the calculator to compare the Rebel with other models in the Ram 1500 line-up – the Laramie Sport and Limited, and with other utes such as the [Ford Ranger](http://www.ford.com.au "Ford Ranger"). **To ensure you get a big ute without the big loan payments, contact Jade Car Loans 1300 000 003 for Ram Trucks Finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Is car dealer finance your best loan option? ](https://www.jadecarloans.com.au/blog/is-car-dealer-finance-your-best-loan-option) **Published:** August 4, 2025 **Author:** Publisher **Excerpt:** Car dealer finance is a car loan offered to buyers at the point of purchase through a credit provider, which may or may not be the buyer’s best option. **Content:** Car dealer finance is a car loan offered to buyers at the point of purchase through a credit provider, which may or may not be the buyer’s best option. Loans offered by new and used vehicle dealers, or through the vehicle manufacturer, are made via an arrangement with usually the one credit provider. The interest rates, terms, conditions and other features of the loan may or may not represent the best offer available in the motor vehicle finance market for that buyer. While it may seem fast and convenient to simply let the dealer arrange your loan, with the possibility of a cheaper and/or more suitable loan available, buyers are strongly advised to consider their options before committing. The loan may suit your requirements, or it may not. With the price of new vehicles, loan repayments can be significant for many buyers. When considered over the full term, it is surely worth ensuring you have committed to the loan that will deliver on your objectives and represents your best rates and lowest repayments. As specialists in motor vehicle financing, we explain the specifics of loans offered by vehicle dealers, how we may offer a better solution, and ways to compare loan offers. ## What is car dealer finance? Car dealer finance are loans for motor vehicles offered by the dealership or by the manufacturer of that vehicle brand. Major vehicle brands typically offer their branded loans on new vehicles across their dealer network. This is often advertised as part of their promotional campaigns. Credit offers may be available through both new and used vehicle sellers. Buyers are not compelled to take up any offer of credit offered by either a dealer or any credit provider. These loans are typically arranged through a partnership between the seller or brand and a credit provider, usually a finance company. Some dealers may have a partnership with a finance broker, such as Jade Car Loans, rather than the one finance company. Brokers offer a greater selection of lenders and a different proposition than the one credit provider option, which we explain below. A credit provider number should be displayed on loan offers and advertisements for credit made by dealers. The name of the company providing the loan should also be displayed. As the loan is arranged through another company, they may involve a commission being paid to the dealer by the credit provider. This may be included in the fees and charges to the borrower. Read on for information on how to compare offers. Are these the best offers a buyer may be able to source? We cover off on a number of aspects for buyers to consider. ## Dealer have your most suitable loan type? One of the first issues to consider is if you are being offered the most suitable type of loan for your circumstances and your preferences. Private buyers should be able to select from a Secured Car Loan and an Unsecured Personal Loan. A secured format loan is the most popular and most affordable for new cars. Business buyers need to have their choice of [Chattel Mortgage](/car-chattel-mortgage), Leasing and Commercial Hire Purchase. Ensuring the loan will work with their accounting method and practices, and approach and preferences to their balance sheet and tax. While the names of these loans and many of the features can be the same across the lending market, the conditions, loan amounts and criteria for approval can be different for different lenders. If a buyer does not fully meet the criteria of the dealer’s lender, they may be offered a higher rate or their application rejected. Having access to sourcing a loan from as many lenders as possible through a broker, rather than only being offered one choice, may ensure a buyer is applying for the loan that is right for their needs. Look at the loan conditions. Does the offer include the loan amount you are looking to borrow? If not, it may be that provider does not offer loans to that amount or that your borrowing capacity was assessed at that limit. Criteria around approvals can vary with lenders. Not all dealers may offer all loan options such as Low Docs Car Loans for new businesses and loans for buyers applying for finance for the first time. Does the repayment term offered suit your requirements? If not, another lender may approve your preferred term. ## Comparing Car Dealer Finance Rates The motor vehicle finance market is one of the largest Australian lending markets. While lenders can use the cash rate as set by the [RBA](http://www.rba.gov.au "RBA") as a guideline or baseline, lenders set their own car loan interest rates. Resulting in a market with varying rates for both private and business vehicle finance. Compare the rate offered by the dealer with others in the market. Use our current rates to see what we are currently achieving. To easily compare rates, use our [Finance Calculator](/car-finance-calculator). Get repayment estimates based on any interest rate to see how the dealer’s rate compares. Watch out for 0% interest rate advertisements. This is not a practice used by all manufacturers and dealer loans but can crop up at times. These are usually promotions. The 0% rate is only available for the first few months or promotional period. After that, a much higher rate applies. ## Alternatives to Car Dealer Finance Buyers do have alternatives to accepting a loan offer from the vehicle seller. They can apply directly to a bank or other credit provider or use the services of a motor vehicle finance broker such as Jade Car Loans. We won’t delay the process of securing a loan as both the dealer’s credit provider, banks and other lenders, and brokers, need to go through similar application assessment and approval processes. Some are faster than others and we have many applications approved within 24 hours. When approving finance for private buyers, all credit providers must adhere to the Consumer Credit Laws as regulated by [ASIC](http://www.asic.gov.au "ASIC"). Brokers provide buyers with the advantage of having their best offers sourced from many lenders, not just the one. This can affect not only the interest rate, but the amount approved for the loan, terms, conditions, and deposits required. Fees and charges can also vary with lenders. These are not always known until a quote is provided. While sourcing quotes from multiple lenders may be required, it may result in issues with the buyer’s credit profile. Using a broker allows buyers to secure their best rate from across many lenders without impacting their credit rating. We also assist with explaining the fine print, finding the most suitable lender and the most suitable loan product. **Before simply accepting car dealer finance, contact Jade Car Loans 1300 000 003 for a quick quote to compare our cheap rates and tailored loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Pre-arrange Your Finance for Sydney’s Light Commercial Motor Show](https://www.jadecarloans.com.au/blog/pre-arrange-your-finance-for-sydneys-light-commercial-motor-show) **Published:** July 21, 2025 **Author:** Publisher **Excerpt:** The Light Commercial Motor Show is on in Sydney, 7-10 August, and visitors can be ready to order a new vehicle at the event, by pre-arranging their finance. **Content:** The Light Commercial Motor Show is on in Sydney, 7-10 August, and visitors can be ready to order a new vehicle at the event, by pre-arranging their finance. Pre-approved finance is available through Jade Car Loans for both businesses and private buyers. Pre-approved loans include all the same features as post-purchase loan approval, especially our highly competitive interest rates. With finance locked-in, buyers can save time by ordering their vehicle on the first inspection. With light commercials, especially workhorse cab chassis models dominating car sales, it’s about time a special event was staged which is devoted to this vehicle class. Well, it’s on, in August in Sydney! The first motor show dedicated to light commercials in Australia. A great opportunity to see multiple brands, hear from experts, and review new tech and accessories. Time to get your tickets, book your test drives and most importantly, organise your finance so you are ready to order. ## Light Commercial Motor Show – Event Details The [Light Commercial Motor Show (LCMS)](https://www.futuredriveauto.au/syd/lcms2025 "Light Commercial Motor Show (LCMS)") runs from 7-10 August at the International Convention Centre, Darling Harbour Sydney. Doors open 9am to 5pm on the four days – Thursday through Sunday with the first two days dedicated to trade, and the show runs alongside the Small Biz week event. One ticket provides access for two business-related events. The event is very much focussed on small business operators, but individuals interested in light commercials for their lifestyle are also catered for. As visitors to the many caravan and boat shows will know, having the opportunity to see multiple brands and models in the one place at the one time, is a great advantage for serious buyers. But rarely available for car buyers. Save time in having to visit multiple dealerships. More easily compare features while they are fresh in your mind. Go from one to the other and back again quickly and easily in the one location to make detailed comparisons. At the LCMS, vehicles on display will include all types of light commercials including utes, dual cab chassis, and vans. Models being showcased by exhibitors include the BYD Shark 6, Ford F-150, Toyota Hi-Lux, [Ford](http://www.ford.com.au "Ford") Ranger, Kia Tasman, several models from Farizon, VW Amarok and Caddy, and models from XPeng. Test Drive Experiences are available and a great opportunity to try models that perhaps you hadn’t previously considered. Visitors can try vehicles on a special track. You will need to [register](https://www.futuredriveauto.au/syd/lcms25/test-drives "register") so get in quick with your request. As well as vehicles, exhibitors will include software, accessories, tools and tech and on the live stage, presentations with experts. Two categories of tickets are available – the Business Delegate Pass for industry and businesses and the General Admission Pass for the general public and those interested in light commercials for recreation and lifestyle. This could be a great opportunity to upgrade your current vehicle for improved efficiency and performance, or to set yourself up with the right vehicle for a new business venture. ## Business Vehicle Financing Options Light commercials are extremely popular vehicles with operators across many industries – trades, agriculture, landscaping, delivery services, warehousing, retail, removals and many others. Operators cover a range of business set-ups and structures, with varying financing requirements. We offer a complete selection of credit facilities to suit all commercial enterprises. To finance a new vehicle, businesses can select the credit facility with features in line with their accounting method, practices, and approach to tax deductions and the balance sheet. The selection is from [Chattel Mortgage,](/car-chattel-mortgage) Lease, Rent-to-Own and Commercial Hire Purchase. All are secured with our most competitive fixed interest rates and over fixed terms of up to 7 years. Tax deductions are available on all asset finance and many businesses may be eligible for no deposit financing. To work up estimates to start comparing some of the vehicles you will see at the LCMS, use our [Finance Calculator](/car-finance-calculator). ## How to Get Finance Ahead of Light Commercial Motor Show All business vehicle loans can be arranged prior to the purchase of the vehicle. The process is simple – apply for your finance based on an estimate of what you anticipate the price will be. If using manufacturer RRPs as a guide, add extra for delivery charges and any accessories you may want to include. Applications are assessed and approved to a conditional stage. Operators know their repayment estimates and their approved credit limit and can proceed to confidently order. Pre-approved finance can be a big plus when attending expos and shows. At LCMS, inspect vehicles, take them for a test drive, talk price with the representatives, and place your order. Save time and expedite delivery. Pre-approved loan applications do require the same financial documentation as post-purchase applications. New operators without full financials can speak with us about our Low Docs Vehicle Finance opportunities. Applications can be made online or by phone for quick approval. **To secure pre-approved business vehicle finance in time for the Light Commercial Motor Show, apply now with Jade Car Loans 1300 000 003 online or by phone.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Can you afford a best-selling model? Compare new car loans to find out](https://www.jadecarloans.com.au/blog/can-you-afford-a-best-selling-model-compare-new-car-loans-to-find-out) **Published:** July 10, 2025 **Author:** Publisher **Excerpt:** Potential buyers can compare new car loans on best-selling vehicles to obtain an indication of affordability, using an online car finance calculator. **Content:** Potential buyers can compare new car loans on best-selling vehicles to obtain an indication of affordability, using an online car finance calculator. Buying a new model with finance may offer unexpected benefits when compared with buying and financing a used model. Even the latest top sellers may be acquired with affordable finance through the right lender and by finding the best interest rates. The loan estimates obtained with a Finance Calculator can be invaluable assistance when deciding which model to purchase by converting vehicle price guides to estimate loan payments and providing a guide to affordability. These devices also allow buyers to compare finance based on the different interest rates and loan terms and conditions offered by different lenders. To assist potential buyers on their purchase journey, we review the latest top selling models, the finance options and how to compare new car loans with our calculator. ## New Car Loans for Latest Top Sellers There is no difference in the loan products for different types of new vehicles. SUVs, utes, small, luxury, wagons, vans, hybrids and EVs are all financed with the same types of loans. For businesses, that is Leasing, Commercial Hire Purchase and Chattel Mortgage. For private buyers, a Secured Car Loan is the most popular [finance product](/personal-car-finance). Which of the latest top sellers will you consider? The [FCAI](https://www.fcai.com.au "FCAI") has announced that light commercial vehicles dominated sales in June. Possibly unsurprisingly, as businesses rush to maximise tax deductions prior to 30 June. Toyota remained as the leading manufacturer, with Ford second, Mazda third and Hyundai fourth. The top 10 best-selling models for June were the Ford Ranger, Toyota HiLux, Tesla Model Y, Isuzu D-Max, BYD Shark 6, Ford Everest, Mazda CX5, Hyundai Kona, Toyota RAV4 and Hyundai Tucson. What models should those looking for a passenger vehicle consider? The FCAI notes that this market continues to decline and represents only 12.4% of the market. In the passenger car market, the best sellers included the Toyota Corolla, MG3, Mnini Cooper, Toyota Camry, Tesla 3, and Mercedes Benz E-Class. The EV market is also down but the hybrid market is doing well. Reviewing the FCAI report may unearth areas of the market to look for buying bargains to meet affordability targets. Look for models that are not selling as well as others in their class. Dealers may be more flexible in offering a better deal to move stock. ## Compare New Car Loans with Second-hand Vehicle Finance With costs of living and budget pressures being felt by both individuals and businesses, buying a new car rather than used may seem an unaffordable option. But there are benefits that buyers may like to put into the mix when making purchase decisions. Yes, the price of a new model will be higher than a used. But lenders will usually readily accept a new vehicle as loan security while used models need to be assessed as suitable security. Higher loan amount can be approved on newer models, reducing the need for a large deposit. This can be significant. Those trying to save enough deposit face lower interest rates on savings accounts and the price of vehicles continues to rise. Lenders offer better interest rates on new goods compared with used. So while the amount borrowed may be higher with new, the repayments can be more attractive. Balance that out with the long warranties offered on new vehicles which can reduce servicing over the first few years. When buying used, buyers can often face the unknown as to what work will need to be done on the vehicle. Also factor in potential for savings with better fuel efficiency, the latest tech, and possibly more safety features. Using a [Calculator](/car-finance-calculator) to Compare New Car Loans Now to compare finance options. First you will need a loan amount. Head to the manufacturer’s website – Ford, [Toyota](https://www.toyota.com.au "Toyota"), [Mazda](https://www.mazda.com.au "Mazda") or your manufacturer of your choice for a price guide. Don’t forget to include extra for dealer charges and check any conditions noted with an asterisk on driveaway pricing. You will obtain the best estimates by working with the closest amount you need for your loan. Now enter our [interest rate](/car-finance-interest-rates) for your preferred loan product, a preferred loan term, and the monthly repayment estimate is displayed. Repeat the process with different lender rates and different loan amounts to compare lenders and models. Repeat the process for say a used model and consider the difference. There are many rate variations across the lender market and carrying out these calculations can highlight how much per month a lower rate can save you. That top selling may actually be more affordable than you first thought. To speed up and simplify the comparison process even further, use our broker service to have your best rate and loan offer sourced from our 80+ lender base. **Compare new car loans quickly and easily with our Finance Calculator or request a quote from Jade Car Loans 1300 000 003 for your best offer.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Beat bracket creep? Staff bonus? Benefits of Salary Sacrifice Car Loans](https://www.jadecarloans.com.au/blog/beat-bracket-creep-staff-bonus-benefits-of-salary-sacrifice-car-loans) **Published:** June 23, 2025 **Author:** Publisher **Excerpt:** Salary sacrifice car loans, Novated Leases, may be used by employers as an employee bonus and may provide lower income tax payable for employees. **Content:** Salary sacrifice car loans, Novated Leases, may be used by employers as an employee bonus and may provide lower income tax payable for employees. This type of motor vehicle finance involves agreement between employee and employer with benefits for both available. Now could be the time to consider if Novated Lease is a workable option for you. The start of a new financial year is a popular time for employers to issue wage increases or bonuses to employees. A Novated Lease may be an alternative. When taking on any type of finance all aspects should be considered. With Novated Lease, both employers and employees should assess the benefits and any potential downsides. We provide details on this motor vehicle financing facility, including some of the points for both parties to consider. ## Salary Sacrifice Car Loans – Novated Lease [Novated Lease](/novated-car-leasing-and-salary-sacrificing) is a motor vehicle finance arrangement involving an employer, employee and a lender. The loan is essentially ‘novated’ or transferred from the employee to the employer. The employing business leases a motor vehicle for an employee, with the employee sacrificing a portion of the salary to cover the lease payments and other expenses for the vehicle. In order to proceed with such an arrangement, both employee and employer must agree. Either party may initiate the idea with the other. Neither party is compelled to proceed. It is totally their choice. The employee selects the vehicle they want. Employers may have a price limit they are prepared to finance. The parties then seek a Novated Lease with Salary Sacrifice loan through a broker or lender. The finance application is completed by the business, with their financials and credit rating assessed by lenders when preparing offers. The vehicle is registered and insured in the name of the business and the business covers all the running costs. An amount which includes the payments and other costs of the vehicle are calculated by the business and this typically forms the amount that the employee must sacrifice from their wages. The amount is deducted each pay cycle from pre-tax salary. The more expensive the vehicle, the higher the Lease payments and the greater the amount of salary that needs to be sacrificed. Rates, terms and repayments with this finance product are fixed. As with other Lease finance, a residual is included in line with [ATO](https://www.ato.gov.au "ATO") guidelines. At the end of the Lease term, when all payments are finalised, the vehicle ownership is transferred to the employee and the salary sacrificing concludes. ## Salary Sacrifice Car Loan Tax Features The business taking on the Novated Lease realises the tax benefits of deductible monthly payments. The ATO treats Lease payments as business expenses, and they are fully deductible. Depending on their salary range, employees may enjoy a tax benefit. The sacrificed salary is deducted from pre-tax wages. Depending on the amount involved, this may result in the employee moving down to a lower personal income tax bracket. Paying less tax weekly and less annual tax payable. Resulting in a net benefit and the opportunity to eventually own a new vehicle. If the employer granted a pay increase instead of a Novated Lease, the increase may move the employee into a higher tax bracket. ## Interest Rates on Salary Sacrifice Car Loans Interest rates on Novated Leases are business interest rates which are lower than personal car loan interest rates. For employees, this provides the opportunity to purchase a vehicle with finance at lower rates than they would have been offered with a [Personal Secured Car Loan](/personal-car-finance). While they are sacrificing part of their wages, the repayments would be lower than if they took on finance in their own name. If the employee has credit issues, this may deliver a not just a business rate but a significantly lower rate than they would be offered if they applied for a loan based on their own credit profile. The rate offered is based on the financials and credit profile of the business. The rate is fixed so decisions by the [RBA](https://www.rba.gov.au "RBA") or the lender will not change the rate or the repayments during the leasing term. ## Considerations for Employers and Employees Novated Lease may present an alternative for employers to offering staff a bonus or pay rise. For employees, they may benefit in several ways. Individuals that struggle with following a savings plan may benefit from this arrangement. The credit profile and financials of the business are assessed. Employees should be certain that the business has good credentials in order to be offered a highly competitive interest rate. The cost of the vehicle determines the salary sacrifice amount. Employees should consider if they can afford to forego that amount from every pay over the number of years of the Lease towards buying a car. Would saving for the vehicle be a better option where the amount saved can be varied according to other personal bills and expenses? Employees may consider how long they intend to stay with that company. If they have plans to seek another job within the Novated Lease term, they may also need to make plans about their vehicle finance. If they want ownership of the vehicle and they leave that employer before the end of the Lease term, they will have to finalise the loan themselves. This may involve taking on their own Personal Car Loan or an Unsecured Personal Loan. Employers may consider if they agree to this arrangement with one employee, will others request the same? How will that impact the business financial position? While the sacrificed salary is structured to cover the expenses, the additional liabilities on the balance sheet may have an effect on future applications for business finance. **To discuss if Salary Sacrifice Car Loans are right for you, speak with one of the brokers at Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What are you allowed? Car loan tax deductions explained.](https://www.jadecarloans.com.au/blog/what-are-you-allowed-car-loan-tax-deductions-explained) **Published:** June 9, 2025 **Author:** Publisher **Excerpt:** Car loan tax deductions are available on business vehicle finance, not on personal loans but individuals may claim some car expenses in line with ATO rulings. **Content:** Car loan tax deductions are available on business vehicle finance, not on personal loans but individuals may claim some car expenses in line with ATO rulings. In the lead-up to tax time, it is important to know exactly what you and are not allowed to deduct as expenses on your income tax return. The [Australian Taxation Office (ATO)](https://www.ato.gov.au "Australian Taxation Office (ATO)") recently issued statements saying it would be cracking down on expenses with personal income tax returns. Many individuals prepare and submit their own returns while businesses usually have an accountant prepare their tax returns and this can be helpful in ensuring all expenses claimed are allowed. Making errors on returns, even unintentionally, may lead to consequences such as additional tax to be paid or even fines from the ATO. With interest on ATO debts no longer tax deductible from 1 July 2025, avoiding fines should be a priority. While it is important to be clear on deductions to prepare your current return, both individuals and business planning to purchase a vehicle with financing for the coming financial year, may also benefit from knowing upfront what is allowed. We clarify the allowances for both Personal Car Loans and the different types of Business Vehicle Finance to assist. ## Personal Car Loan Tax Deductions Individuals that use their private vehicle for work-related trips cannot claim [Secured Car Loan](/personal-car-finance) repayments as a deduction on their annual return. Where a private vehicle is used for work purposes, the ATO does allow for some specific vehicle expenses to be claimed. There are conditions for allowed deductions, as [set out by the ATO](https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/cars-transport-and-travel/motor-vehicle-and-car-expenses "set out by the ATO") which include:- you must own or lease the car; the trips must be work-related; you can’t claim driving from home to work; you must have personally spent the money and not have been reimbursed by your employer; if you receive an allowance for personal car use from your employer that money must be included in your assessable income; plus others. Employees using their vehicle for work should review the ATO guidelines and make acceptable arrangements with their employers to ensure they are complying with the current rulings. ## Salary Sacrifice Car Loan Tax Deductions Salary sacrificing is used by employees to purchase a motor vehicle by sacrificing part of their salary with a Novated Car Lease. Individuals with this arrangement do not make the finance payments, the employer does, so no deductions by the employee would be applicable. The employer essentially owns the vehicle and covers the expenses. Fringe Benefits Tax may apply and be paid by the employer if the vehicle is also used for personal use. With [Novated Car Lease](/novated-car-leasing-and-salary-sacrificing) the employee may receive a reduction in income tax due to the reduction in the salary as a result of the salary sacrificing. Speak with one of brokers for more information on this type of motor vehicle financing. ## Business Car Loan Tax Deductions Business vehicle finance provides for straightforward and clear rulings on what is considered deductible. [Leasing](/car-lease) provides for fully deductible monthly payments. Commercial Hire Purchase and Chattel Mortgage allow for a deduction through vehicle depreciation and with deductible interest payments. Businesses can then usually also claim the expenses related to running and operating the vehicle. Where the vehicle is also used for personal purposes, Fringe Benefits Tax (FBT) usually applies. The ATO offers options for calculating how much mileage per annum is for business and for personal purposes. This percentage determines the FBT payable. If considering new vehicles for the new financial year, when deciding which is the most beneficial finance product, businesses are advised to consult with their accountant. While tax deductions are important, a key consideration is the finance product being compatible with accounting method used by the business. Leasing is compatible with the accruals method of accounting, Chattel Mortgage with the cash accounting method, and CHP may be used for businesses using either method. If considering a change from the usual financing product used, businesses may need to change their accounting method. Changes to the method of accounting implemented by a commercial entity can only be done at the start of a new financial year. If this is something you are contemplating, it’s time to have a discussion with your accountant as to whether this is the right move for your business. ## Taking on New Car Finance With EOFY deals now available and interest rates on the way down, this new financial year may be the ideal time to purchase new vehicles with finance. Check out our current interest rates and use our Finance Calculator to work up rough loan estimates when browsing the sales. With sale vehicles often available in limited quantities, having finance approved ahead of committing may be an advantage. Speak with us about pre-approved finance or apply now. **To discuss car loan tax deductions, speak with the motor vehicle finance experts as Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [When will there be another interest rate cut?](https://www.jadecarloans.com.au/blog/when-will-there-be-another-interest-rate-cut) **Published:** May 28, 2025 **Author:** Publisher **Excerpt:** The Reserve Bank cut the cash rate by 0.25% to 3.85% on 20 May with many planning motor vehicle finance wondering when there will be another interest rate cut. **Content:** The Reserve Bank cut the cash rate by 0.25% to 3.85% on 20 May with many planning motor vehicle finance wondering when there will be another interest rate cut. The answer to that key question could lie, not in how conditions play out in the domestic economic, but in what happens internationally, especially with the Trump administration’s tariffs. A point mentioned by Reserve Bank of Australia (RBA) Governor Michelle Bullock in the May decision statement and in the press conference following the Board meeting. The RBA’s May decision was the second rate cut in three months, with all the major banks anticipating the decision. Many lenders were already pricing in a 0.25% May cut after the March inflation figures were released by the [ABS](https://www.abs.gov.au "ABS"). While these figures were higher than some expected, the rate of inflation did fall to within the RBA’s target band of 2-3% for the first time in over 3 years. While inflation has been the main reason for rate decisions by the [Reserve Bank (RBA)](https://www.rba.gov.au "Reserve Bank (RBA)") over the past few years, the main focus appears to be shifting to what is happening overseas. We provide an overview of rationale for the RBA Board’s latest decision and the indicators for further cuts in the coming months. ## RBA Interest Rate Cut Announcement In announcing the May cash rate decision, Governor Michelle Bullock said that with headline inflation at 2.4%, below target for the first time since 2021, rate decisions were seen to be working. Ms Bullock said that forecasts by RBA staff were for that rate to rise in the coming year as temporary support measures were unwound. A major focus of the Board’s statement was on the uncertainty of the outlook as a result of international trade and tariff issues. In the press conference following the announcement, Ms Bullock said the tariff scenario had been a roller coaster. Considerable uncertainty is seen about how countries will respond to the US tariff decisions and the this was expected to adversely impact economic activity globally. While this uncertainty is contributing to weaker outlooks for inflation, employment and economic growth in Australia, global policies are changing quickly which is making forecasts also subject to uncertainty. A lag in the effect of rate decisions on prices and wages also contributes to a level of uncertainty. Maintaining inflation at a stable rate remains the priority for the Board. The positive elements, which the Board describes as ‘upside risks’, are diminishing due to the developments happening internationally. But with the inflation rate expected to stay within the target range, the Board deemed it appropriate to announce a cut in the cash rate. When the Minutes of the RBA Board meeting are released on 3 June, further insights may be available into the Board’s decision making and possible future decisions. ## Prospects for Another Interest Rate Cut So when will there be another interest rate cut? The RBA Board next meets to make their decision on 7-8 July. But many in the markets are indicating it could be August for a further lowering of interest rates. By how much will be interesting. Reports have the NAB Chief Executive forecasting 3 more cuts coming up. But others are less certain. The RBA Board typically gives little away as to their plans for future decisions, saying they will be studying the data. In the Quarterly Review, the RBA reiterates many of the comments made in the May Monetary Policy Decision Statement. In relation to how the bank sees the economy developing, the global uncertainty is central to comments and make the outlook for Australia’s economy slightly weaker as a result of lower growth globally due to the tariff situation. Unemployment is expected to stabilise just below 4.5%, a rate considered historically low. The expectation for inflation is to stabilise within the target 2-3% range. The global uncertainty factor was further highlighted when days after the Board’s May meeting, the Trump administration said it would impose a 50% tariff on the European Union, which once again resulted in falls on Wall Street – the stock market. ## Effect of Interest Rate Cut on Car Finance For buyers in the market for financing on new vehicles in coming months, especially with the end of financial year sales, they should see a lowering of car finance [interest rates](/car-finance-interest-rates). While the focus of publicity post-rate decisions is on how the major banks react with their home loan rates, decisions do flow through other markets, including motor vehicle financing. With access to more than 80 lenders, we have the capability to constantly achieve highly competitive rates on both [personal car loans](/personal-car-finance) and business vehicle financing. All rates are individually offered and based on individual financials and credit profiles. Buyers can use our [Finance Calculator](/car-finance-calculator) to work up estimates or connect with us for a quick quote. **For competitive car loan rates following the RBA’s interest rate cut, contact Jade Car Loans 1300 000 003 for a quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Post-election News: Is the Luxury Car Tax going to be dropped?](https://www.jadecarloans.com.au/blog/post-election-news-is-the-luxury-car-tax-going-to-be-dropped) **Published:** May 19, 2025 **Author:** Publisher **Excerpt:** The Luxury Car Tax applies to the difference between the price and threshold set by the ATO currently $91,387 for fuel efficient and $80,567 for other vehicles. **Content:** The Luxury Car Tax applies to the difference between the price and threshold set by the ATO currently $91,387 for fuel efficient and $80,567 for other vehicles. The current Luxury Car Tax (LCT) rate is 33%, some exemptions do apply, thresholds vary for cars and fuel-efficient models, and the threshold applies to the year the vehicle was imported or sold. LCT applies to the importers/sellers of the vehicles with the cost included in the price paid by buyers. Commercial vehicles are exempt from LCT. The threshold is adjusted for vehicles each financial year, with higher threshold for fuel efficient vehicles to encourage take-up of new fuel technology vehicles. At the current thresholds, LCT impacts many brands and models, especially from European manufacturers such as Porsche, Audi, BMW and [Mercedes-Benz](https://www.mercedes-benz.com.au/ "Mercedes-Benz"). But models from many other brands coming out of Asian markets may also be subject to LCT. With the current global tariff environment, media reports have mentioned that the Albanese Government is intending to abolish LCT as part of free trade negotiations with the EU. The decision would make sense when considered, not only in the context of the current global tariff and trade conversations, but in the context of why it was first introduced. One of the major reasons that countries impose taxes or tariffs on imported goods is to protect their own industries. At a time when Australia had a significant auto manufacturing sector, the LCT, which dates back to around 1999, was seen as a form of protection for locally built vehicles. But now, with vehicle manufacturing no longer happening in Australia, the reasons for continuing LCT seem to have gone the same way – disappeared. There is of course the revenue generated by the tax for the Government to consider, but a free trade agreement with the EU may open up opportunities for many Australian producers, especially in the agricultural sector, to be more competitive in European markets. So, will it happen and if so, when? That we will have to wait for. The Prime Minister has decided to recall Federal Parliament in July, when the newly elected Senate is in place. As LCT was enacted under the New Tax System (Luxury Car Tax) Act of 1999, it would be presumed that it would take an Act of Parliament to change or abolish that Act. While we await the decision, we explain what LCT is, how it impacts the price of motor vehicles, and what buyers may save on some new vehicles if it is discontinued. ## What is the Luxury Car Tax? [LCT](https://www.ato.gov.au/tax-rates-and-codes/luxury-car-tax-rate-and-thresholds "LCT") is a tax at the rate of 33% on vehicles imported with pricing above the set threshold for the year of importation/sale. The thresholds are adjusted each year for vehicles imported in that year, reflecting price increases. Importers and sellers must pay the tax. The taxable portion is the difference between the selling price including GST and the threshold. Not on the entire selling price. The ATO definition of luxury cars for LCT purposes are motor-powered vehicles for the road, with load capacity of under 2 tonnes and 9 passenger maximum capacity. Motorbikes are not included in LCT. The definition of fuel-efficient vehicles was re-defined from 1 July 2025 to be vehicles with fuel consumption not exceeding 3.5 litres per 100klms. Commercial vehicles are defined as those vehicles for the main purpose of transporting goods and used for trade or in a business. Commercial vehicles are exempt from LCT. As mentioned above, the LCT thresholds for vehicles imported/sold in 2024/25 is $80,567 for what the ATO describe as ‘other vehicles’, and $91,387 for vehicles under the relevant definition for fuel-efficient models. As anyone in the market for a new vehicle will quickly realise, LCT increases the price they are paying significantly. ## Financing Luxury Cars Abolishing the luxury car tax should see prices of many models fall significantly. But buyers should beware of the timing of Government changes to the relevant Act, and which year of import/sale of particular models any change would affect. Some models where the LCT has been applied and paid by the importer may not see the LCT reversed. Any change may apply to vehicles imported after a certain date in the future. From a financing perspective, the lower the price the smaller the loan required and the lower the repayments. Buyers don’t pay extra for LCT, it is already included in the advertised price of the vehicle. This makes working out how much may be saved using our [Finance Calculator](/car-finance-calculator) may be complex. But rough figures may be used to work up estimated repayments on [personal](/personal-car-finance) and [business vehicle financing](/car-chattel-mortgage) using the calculator. **If requiring finance for vehicles currently subject to Luxury Car Tax, contact Jade Car Loans 1300 000 003 for affordable personal and business car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Safety Checklist when Buying a Used Car with Finance](https://www.jadecarloans.com.au/blog/safety-checklist-when-buying-a-used-car-with-finance) **Published:** April 28, 2025 **Author:** Publisher **Excerpt:** When buying a used car, buyers can seek help with the necessary ownership and other checks, and with their finance needs, through Jade Car Loans brokers **Content:** When buying a used car, buyers can seek help with the necessary ownership and other checks, and with their finance needs, through Jade Car Loans brokers. With current cost of living pressures, many buyers in need of a new vehicle may look to the second-hand market for a cheaper option to a new vehicle. Many drivers simply prefer to purchase second-hand. The market is usually extensive and while good value buys are available, buyers need to be diligent, especially if buying privately. Unfortunately, there can be fraudulent activity in the market with buyers selling vehicles which have been stolen, not officially registered or registerable, and vehicles which still have money owed on the financing. As is widely reported, the private online marketplace can have fake sellers which can leave buyers out-of-pocket and without a vehicle. Purchasing from a licensed second-hand motor dealer can be safer than buying privately. But regardless of the selected seller, buyers should carry out a range of checks before committing to the purchase, to be fully assured that the sale is right for them. While it may all sound complicated and time-consuming, when sourcing finance for a second-hand vehicle, we can assist with some of the checks. Information is also available at state Government websites, including around consumer rights. Review the guidelines we have provided and speak with us for assistance. ## Buying a Used Car Recommended Checks Recommended by authorities is to check the vehicle’s registration and VIN before committing to the purchase. Free rego checks can be sourced through your state motoring department. The rego details should match the owner/seller, VIN number and can provide a guide to checking the odometer reading. Tampering with an odometer is illegal. Buyers purchasing privately can compare the rego details and any service books provided as a guide. Ensure the logbook or service book has not been tampered with. Ensure VIN and engine numbers match the details A vehicle history report may also be available to purchase through your state government authorities. Doing a quick online search of the vehicle may bring up results of previous sales of the vehicle. This may provide further information on the vehicle’s history and mileage. Getting a vehicle inspection from an independent body can also be advisable. If buying online, ensure it is a trusted marketplace. Scams are sadly prevalent online. Check that the seller is verified and check if the site offers any buyer guarantees and protections. Using trusted vehicle sales sites is highly recommended. When purchasing an EV, it can be a good idea to check if the battery is still under warranty. The cost of a replacement battery may be a large expense. One of the most important checks is if the vehicle is under finance or not. That is, if the owner/seller still owes money on a loan. If a buyer purchases a vehicle where money is owed and the seller does not finalise the debt prior to settling the sale, the buyer could end up with having their new purchase repossessed. Checks can be done on the [Personal Property Securities Register](https://www.ppsr.gov.au "Personal Property Securities Register"). When arranging your financing through us, your Jade broker will assist you by carrying out many of these checks and sharing our valuable insights on buying a used car. ## Consumer Rights Buyers of second-hand vehicles from dealers do have consumer rights and guarantees under the [Australian Consumer Law](https://consumer.gov.au/about/australian-consumer-law "Australian Consumer Law"). Buyers purchasing through licensed dealers may be entitled to guarantees under the Motor Dealers and Repairers Act. For example, in [NSW](https://legislation.nsw.gov.au/view/html/inforce/current/act-2013-107 "NSW") the law includes that the vehicle must be free of encumbrances and provides other guarantees. These guarantees may not cover all vehicles, for example models over 10 years old and that have covered over 160,000klms. ## Loans for Used Cars The same credit products are available for new and second-hand vehicles. That includes a [Secured Car Loan](/personal-car-finance) for private buyers and [Lease](/car-lease), Chattel Mortgage and CHP for business buyers. Business buyers can realise all relevant tax benefits for their choice of credit facilities on second-hand vehicle finance. These credit products are all secured format credit facilities where the lender accepts the vehicle as suitable collateral for the loan. With second-hand vehicles, lenders will assess the age and condition of the vehicle when accepted it as suitable collateral. Where not accepted, we have unsecured loan products available. Most late model second-hand vehicles can meet lender collateral criteria. Lenders will also assess the loan amount requested against the value of a second-hand vehicle when approved the loan total. This assessment may impact deposit requirements as well as the interest rate and terms offered. We will be handling all lender negotiations for you and working towards the most acceptable and affordable loan offer. If browsing vehicles online or in a dealership, buyers can request quick loan quotes or even apply for financing prior to committing to the sale. **When buying a used car, contact Jade Car Loans 1300 000 003 for assistance with pre-purchase checks and to obtain affordable financing.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Celebrate Ford 100 yrs with a new Ford Ranger](https://www.jadecarloans.com.au/blog/celebrate-ford-100-yrs-with-a-new-ford-ranger) **Published:** April 23, 2025 **Author:** Publisher **Excerpt:** A new Ford Ranger, the Super Duty model, designed and developed in Australia, has been announced to celebrate 100 years of the blue oval in Australia. **Content:** A new Ford Ranger, the Super Duty model, designed and developed in Australia, has been announced to celebrate 100 years of the blue oval in Australia. The announcement of this heavy-hauling and heavy-duty variant was a global debut, with the company saying it was looking to the future with this new model, which will be available in 2026. In celebrating the company’s 100 year milestone, Ford’s Executive Chair, Mr Bill Ford, said that Australia and the blue oval had grown together, with Australia being one of the first markets that the company had established beyond its North American base. ## New Ford Ranger Super Duty The Super Duty is sure to be in demand for both recreational and work applications. Designed to meet the requirements of demanding environments, this new model may be ideal for towing boats, caravans and machinery, handling off-road tracks and trails, and transporting feed into paddocks. This new variant in the Ranger line-up has a stronger and thicker chassis, stronger suspension, rear and front locking differentials, and heavy-duty axles. While considered by the blue oval as a ‘heavy-duty commercial grade’ vehicle, the Super Duty is also ‘consumer friendly’. That’s the great news. The ‘not so great’ news is that this new Super Duty won’t be available for sale in Australia until next year. The specifications and model line-up will be released closer to launch date. But blue oval fans can celebrate with one of the current models in the line-up. ## Ford Ranger Number One Best Seller Around the same time that Ford was announcing a new addition to the line-up, the current Ranger was also lauded in the sales charts. The Ranger took out the coveted position of number one selling vehicle for March 2025, in sales data announced by the FCAI. Nudging the [Toyota](https://www.toyota.com.au "Toyota") RAV4 to number two, and Hi-Lux to number three. Rounding out the top 10 best sellers for March were Mitsubishi’s Outlander, Toyota Prado, BYD Shark 6, Ford Everest, Isuzu D-Max, MC ZS, and the Kona from Hyundai. Toyota remained the top selling brand ahead of Ford and Mazda. March also saw a run on PHEVs in a late uplift in sales before the 1 April expiry of the special FBT allowances. But sales of EVs remained low. In announcing the data, the FCAI’s Chief Executive, Tony Weber, said that while there were 89 EVs models in the Australin market, buyers were not moving to EVs in big numbers. This at a time when the NEVS comes into effect from 1 July and as a result, some manufacturers are discontinuing petrol models to avoid fines. Buyers – get in quick! ## Ford Ranger Finance Options Blue oval fans wanting to join the 100 year celebrations can pick-up a model from [the current Ranger line-up](https://www.ford.com.au/showroom/trucks-and-vans/ranger/ "the current Ranger line-up") which includes the XLT, Wildtrak, Raptor, and PHEV. The company is currently offering driveaway deals on certain XLT models from $60,000 and Wildtrak models from $70,000. (Check terms and conditions and availability with dealers.) Buyers looking to purchase this top seller for private and recreational use can consider our [Secured Car Loan](/personal-car-finance) for personal buyers. A loan which includes your individually sourced best fixed interest rate, fixed terms and fixed repayments. Business owners wanting a Ranger to work hard in their operation can select the commercial credit facility that will also work hard for their business – Chattel Mortgage, [Leasing](/car-lease) or Commercial Hire Purchase. Arranging your financing through Jade does not mean a compromise on any features of business finance. All loans are sourced by our brokers and structured to include balloons or residuals and deliver all the relevant tax deductions. As a top-seller, stock on this favourite ute does move fast. Consider arranging financing before heading to the dealership and be ready to commit to the purchase on the first test-drive. Loan applications can be made online or by phone for prompt attention by a Jade broker. We won’t delay your purchase with our quick quotes and fast approvals. ## Work Out Ranger Finance Estimates Wondering what a Ranger may cost you each month in finance payments? Head to our [online finance calculator](/car-finance-calculator) to work out estimates for your preferred credit facility. This device allows buyers to get estimates on different loan amounts when considering trade-ins and deposits, over different terms, and for business buyers, with different balloons. Start planning your finance now and be one step closer to securing your new vehicle. **Contact Jade Car Loans 1300 000 003 for a quick quote on financing your purchase of the top-selling Ford Ranger.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Find out how much you can save with cheaper car loan interest rates](https://www.jadecarloans.com.au/blog/find-out-how-much-you-can-save-with-cheaper-car-loan-interest-rates) **Published:** March 31, 2025 **Author:** Publisher **Excerpt:** Cheaper car loan interest rates can save vehicle buyers requiring finance on the total interest payable on their loan which impacts the overall cost of the car. **Content:** Cheaper car loan interest rates can save vehicle buyers requiring finance on the total interest payable on their loan which impacts the overall cost of the car. Securing a lower rate delivers not just lower monthly repayments but also lowers the total vehicle acquisition cost and delivers other benefits. With inflation continuing to fall, rate cuts are very much in the frame with the [Reserve Bank](https://www.rba.gov.au "Reserve Bank") cutting the cash rate in February with further cuts expected by financial markets this year. Exactly when, how many, and by how many bases points are the unknowns, with RBA Governor Michelle Bullock not providing any future decision indications after the 1 April rate decisions. While the impact of rate cuts on home mortgages is widely reported and quoted in the media, the effect on other types of finance is not as widely covered. Leaving buyers planning to purchase a vehicle with finance to make their own rate comparison calculations. When comparing loans, the percentage figure of an interest rate doesn’t always tell the full story. Astute loan-seekers may want to know exactly how much they are really paying on their loan in interest, and how much less their vehicle may cost if they secured better rate finance. We provide tools to assist buyers to estimate their loans and expertise to secure that essential better rate. ## Benefits of Cheaper Car Loan Interest Rates The interest rate does not affect the types of credit products available to finance motor vehicles. All options – Secured Car Loans for private buyers, and Chattel Mortgage, Lease and Hire Purchase, are available for business buyers, at a range of rates. The rate is the risk assessment of the loan applicant by the lender and the interest charges the cost of borrowing money from that lender. The overall interest payable on a loan is based on the amount borrowed, the repayment term, and the rate. By securing a lower rate, the total interest payable on the loan is reduced. This in turn reduces the total cost of the motor vehicle purchase. A lower rate can reduce the monthly repayment which may make purchasing a vehicle more achievable for some buyers. A lower rate may contribute to a lender approving a higher loan amount by reducing the overall commitment. This may enable the buyer to purchase a higher priced or better vehicle and reduce the deposit required. ## Calculating Savings on Cheaper Car Loan Interest Rates Buyers requiring finance can calculate estimates on how much they may save with cheaper car loan interest rates using our [Motor Vehicle Finance Calculator](/car-finance-calculator)**.** This device can deliver estimates not just on repayments but on total interest payable to show the real savings which may be realised. We’ll demonstrate this with an example with the calculator. Remember, when using the calculator, use the rate we are currently achieving for your preferred finance product. The rate is different for personal and business vehicle finance and business finance products have different rates. Also note the difference between the Advertised and Comparison Rate with personal car loans on our [comparison rate](/car-finance-interest-rates). The Comparison Rate is based on a specific example and includes some lender fees and charges. Here’s an example on vehicle finance of $50,000 over 4 years, with a Personal Secured Loan rate of 6.75% pa compared with another lender with an advertised rate of 7.25% pa: - Monthly payments at the 6.75% are $1192 and total interest is $7193. - Monthly payments at the 7.25% are $1203 and total interest is $7750. These figures are base amounts and do not take into account lender fees and charges. But the example shows that the lower interest rate loan delivers a small monthly payment reduction of $11 pm but a more significant $557 less in total interest payable on the loan. The buyer that secures the lower rate is paying an estimated $557 less for their vehicle. Enter figures based on what you require to finance your vehicle and our current rates with those of other lenders or dealers and carry out your own estimate comparisons with the calculator. ## Tips for Securing Cheaper Car Loan Interest Rates & Costs The rate market varies with decisions by the RBA and other economic indicators. Lenders set their motor vehicle finance rates based on the cash rate and their own individual guidelines. If the RBA announces another rate cut, it may be expected that lenders will reduce their rates to remain competitive. But rates are individually offered, based on the lender’s assessment of the loan application. There are actions that applicants can take towards achieving a better rate offer. The best rates are offered to those with good credit scores. Look at improving your score by reducing debts and fixing errors with your credit report. Details on how to achieve this are available at [Moneysmart](https://www.moneysmart.gov.au "Moneysmart"). Reducing the amount you need for a loan by making a larger deposit may lower the risk factor and lower your rate offer. One of the simplest steps loan-seekers can do is to use our brokers to find the lowest motor vehicle finance rate. We cover off on our 80+ lender base to find the best rates in the market, use our leverage with lenders to negotiate the best rate, and deliver the cheapest finance solution to our customers. **Contact Jade Car Loans 1300 000 003 for cheaper car loan interest rates.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Hybrids & Hyundai Head 2025 Car of the Year Winners List](https://www.jadecarloans.com.au/blog/hybrids-hyundai-head-2025-car-of-the-year-winners-list) **Published:** March 3, 2025 **Author:** Publisher **Excerpt:** Car of the Year 2025 winners, as judged by Drive experts, are dominated by hybrids with the Hyundai Santa Fe Hybrid awarded overall best car of the year. **Content:** Car of the Year 2025 winners, as judged by Drive experts, are dominated by hybrids with the Hyundai Santa Fe Hybrid awarded overall best car of the year. With [winners announced](https://www.drive.com.au/drive-car-of-the-year/2025/ "winners announced") across 19 categories, buyers in the market for a range of different types, sizes and priced vehicles have the best models already judged for their consideration. These annual awards conducted by Drive, have been undertaken for 20 years and cover many categories. The categories are assessed and amended each year to reflect changing tastes and the new car market. Not surprising then that hybrid models feature in the top 3 in many of the 2025 categories. The awards offer buyers, who may be confused with the many options in the Australian market, with the benefit of the assessment of motoring experts as to the best vehicles across many categories. The judges determine the best model in each category, based on set criteria. But are these winners the best cars for you? If one of your key criteria is affordability, the ‘best’ vehicle for you may rely on the securing the best finance. The awards single out what are considered the most affordable cars in [several popular categories](https://www.drive.com.au/drive-car-of-the-year/2025/best-affordable-cars-2025/ "several popular categories"). While considering the 2025 winners as possibilities for your new vehicle, also consider the finance options. Our Finance Calculator is available to quickly calculate loan estimates to compare repayments on different priced cars. ## Car of the Year Winners Here are the best cars for 2025 as judged by the Drive experts, with vehicles for consideration from most affordable through luxury, for cars, SUVs, EVs and workhorse utes. - Family below $80,000 – Kia Carnival - EV below $50,000 – BYD Seal Dynamic - EV below $100,000 – Tesla Model 3 - Family EV below $100,000 – VW ID Buzz - Luxury EV below $150,000 – Porsche Macan - Small SUV below $50,000 – Hyundai Kona Hybrid - Small SUV below $80,000 – Mini Countryman - Medium SUV below $50,000 – Hyundai Tucson Hybrid - Medium SUV below $80,000 – Genesis GV70 - Large SUV below $80,000 – Hyundai Santa Fe Hybrid - Luxury SUV below $150,000 – Porsche Macan - Urban below $30,000 – Chery Tiggo 4 Pro - Urban below $50,000 – Honda Civic Hybrid - Luxury below $100,000 – Polestar 4 - Off-Road SUV below $80,000 – Ford Everest - Off-road SUV below $150,000 – Land Rover Defender 110 - Dual-Cab Ute below $50,000 – KGM SsangYong Musso - Dual-Cab Ute below $100,000 – Ford Ranger - Dual Cab Ute below $150,000 – Chevrolet Silverado 1500 For more options to consider, refer to the Drive site for the other finalists in all categories. The judging starts with quite a line-up of models, which are then cut back to usually three finalists and eventually the one winner. ## Hyundai Santa Fe Hybrid – Car of the Year 2025 While Toyota and Mazda regularly lead as the top-selling vehicle manufacturers in the Australian new vehicle market, it was Hyundai that received several car of the year category wins for 2025. The Santa Fe Hybrid taking out the Large SUV and the overall win, and the Kona and Tucson hybrids also taking out the gong in their respective categories. The [Sante Fe Hybrid](https://www.hyundai.com/au/en/cars/suvs/santa-fe-hybrid "Sante Fe Hybrid") was judged the best for its funky and futuristic style, the efficiency of the hybrid engine, equipment, spaciousness, adaptability and suitability for a family. Buyers interested in why the judges thought this was worthy of the accolade can refer to [the assessment report](https://www.drive.com.au/drive-car-of-the-year/2025/overall-winner-2025/ "the assessment report") for more details and to the Hyundai website for vehicle specifications. For those looking to put the Santa Fe Hybrid at the top of their purchase list, there are a number of model variants to consider. Prices as currently advertised by Hyundai start from around $61,000 and up to $82,000 for the 7 seat Calligraphy variant. Note what dealer charges etc need to be added to the base pricing. These prices can be useful as a starting point for estimating your finance. ## Calculate Your Finance on the Car of the Year Winners If planning to purchase with finance, to see if the winner or finalists in your preferred category are within your budget, use our [Finance Calculator](/car-finance-calculator). Estimated pricing is usually available at manufacturers’ websites and may be used as the loan amount required when using the calculator. If trading in a current vehicle, a guesstimate of the trade may be deducted from the new car pricing to arrive at the finance required for the purchase. The calculator can be used to estimate repayments on all our credit products – [Personal Secured Loans](/personal-car-finance) for private buyers, and Lease, CHP and Chattel Mortgage for business operators. Use our latest interest rate for your preferred loan product, along with the preferred term, to calculate your estimated repayments. If you would like confidence that your loan is approved and you would like to know your specific repayments prior to engaging in discussions with a dealer, consider applying for finance first. Our pre-approved car loan service can be extremely helpful in assisting with the buying process. **Contact Jade Car Loans 1300 000 003 for affordable finance on the 2025 Car of the Year and winners in other categories.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Pre-order Ford Ranger Wildtrak X with Pre-approved Finance](https://www.jadecarloans.com.au/blog/pre-order-ford-ranger-wildtrak-x-with-pre-approved-finance) **Published:** February 21, 2025 **Author:** Publisher **Excerpt:** The 2025 Ford Ranger Wildtrak X is due for delivery in March and buyers can prepare and pre-order with pre-approved finance through Jade Car Loans. **Content:** The 2025 Ford Ranger Wildtrak X is due for delivery in March and buyers can prepare and pre-order with pre-approved finance through Jade Car Loans. The last time this variant was available, back in 2023, it sold out. It is reported that the 2025 variant will only be available for a limited time and in very limited numbers. Buyers will need to get organised if they want to secure this extremely popular off-road cab chassis from the top selling Ranger range. This new model is sure to attract plenty of buyers with exciting new updates and features for those needing and wanting to take on the toughest terrain. Powered by a twin turbo diesel 2.0 litre engines, features on the new X include a higher ride height and ground clearance, wider track, special dampers, and towing capacity of up to 3500kg. If you work or play in tough terrain and have this exciting new vehicle in your sights, start talking finance with us to ensure the purchase is as affordable as it is enjoyable. ## How Ford Ranger Wildtrak X Pre-Approved Finance Works The majority of new car buyers will make the deal with the dealer and then head off to arrange their finance. So many may be asking, why would you want to arrange a loan before you’ve bought the vehicle? There are a number of very significant reasons as to why it can be a good move for many different types of buyers, especially those looking to pre-order their vehicle. You may be a new or established tradie operating as a sole trader and not 100% sure if you would be approved to borrow the price of this latest model. You may be a private buyer that has not applied for finance for some time and not across current loan products, interest rates and repayments. You may want the confidence from knowing you can afford a vehicle with a loan locked in before making a purchase commitment. Pre-approved loans may also support buyers by helping them to avoid last minute, knee-jerk finance decisions which may result in a loan which is more than could have been achieved. If accessories and extras are available on the new model, knowing finance payments and having credit limits approved, can allow buyers to include or not include these options. But what of the commitment you may be thinking? What if you decide against the new model once you have the opportunity to test drive? That is not a problem as there is no obligation attached to our pre-approved vehicle finance. The process is the same as applying for and getting approved after purchase. Pre-approved finance is available on all types of loans for business and private buyers. Applicants can contact us for a quote and start their application with an estimate of the loan amount they require. The exact amount approved for the loan is subject to the lender’s assessment of the financials and credit profile. Pricing on the new Ford Ranger Wildtrak X is quoted at starting at just under $78K plus on road costs which gives buyers a figure to work on when applying for finance. To get quick estimates prior to applying, use our [Vehicle Finance Calculator](/car-finance-calculator), ensuring you enter the appropriate rate for your choice of credit product. We source the best rates and cheapest finance deal from our vast lender base and on your acceptance of the quote, process your application through to a stage known as conditional approval. Buyers then have the confidence of knowing they are approved for a certain credit limit and can proceed to pre-order or purchase their vehicle. When the exact purchase price is known along with specifics of the vehicle, we finalise the details for final approval and assist with settlement. ## Ford Wildtrak X Finance Options Finance for the new Wildtrak X is available for both business and private buyers. A [Secured Car Loan](/personal-car-finance) will be the most suitable product for the majority of private buyers. The X is used as loan security, our low rates are fixed, terms and monthly repayments are fixed. Insurance will be required. Business buyers can select from Wildtrak [Leasing](/car-lease), Chattel Mortgage and Commercial Hire Purchase, depending on their accounting method and approach to tax deductions and balance sheet entries. All commercial vehicle credit facilities allow for an end of term payment – balloon or residual, include our highly competitive rates, fixed terms up to 7 years and repayment schedules negotiated to suit cash flow. For new and small businesses including sole traders, we have lender connections to secure low doc loans at competitive rates. ## Pre-Ordering New Ford Wildtrak With many loan approvals received within 24 hours, we won’t hold you up from pre-ordering your Wildtrak X. Buyers can pre-order at the [Ford Australia website](https://www.ford.com.au/showroom/trucks-and-vans/ranger/wildtrak-x/ "Ford Australia website"). **Contact Jade Car Loans 1300 000 003 to secure pre-approved finance on the 2025 Ford Ranger Wildtrak X and proceed to pre-order.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Save on New Vehicles - Plate Clearance Car Sales](https://www.jadecarloans.com.au/blog/save-on-new-vehicles-plate-clearance-car-sales) **Published:** February 7, 2025 **Author:** Publisher **Excerpt:** Plate clearance car sales are run by manufacturers and dealers to clear current model stock ahead of delivery of new models and can offer big savings for buyers. **Content:** Plate clearance car sales are run by manufacturers and dealers to clear current model stock ahead of delivery of new models and can offer big savings for buyers. When planning to take advantage of these sale events, buyers should be ready to possibly compromise. The best discounts may be on models, variants, colours or with accessories that are not exactly what was hoped for. By making a small compromise, especially considering a demo vehicle, significant savings may be realised compared with buying the newer model release when available. Remember, when savings are made on a vehicle purchased with finance, the savings realised on the purchase may also have a positive impact on the motor vehicle loan. We cover off on what offers are currently available, and how prospective buyers can be ready to capture these limited stock vehicles with the most affordable finance. ## Current Plate Clearance Car Sales Currently, many brands are clearing 2024 models (MY24) ahead of the arrival of the 2025 model range and offering varying discounts and deals. There may also be the opportunity to purchase a demo model. Demo is the industry term for a demonstrator vehicle. These vehicles are used to demonstrate and test drive for prospective buyers and may have 500-1,000 kms on the clock but are still considered new, are often optioned-up with accessories, and can represent great value. [Mitsubishi](https://www.mitsubishi-motors.com.au/offers.html?group=private) is holding a sale with deals on the Triton, Pajero Sport Outlander and Eclipse Cross. Plus, extra deals for NBL Club members. Offers valid until March 31st. [Nissan](https://www.nissan.com.au/) is offering up to $8,000 cash back on selected Navara variants and up to $5,000 on selected Qashqai and X-Trail models. Other models are also heavily discounted. Check out all the details and if considering a small EV, see the deal on the Leaf. Ford is offering a gift card (credit card) for between $2,000 and $8,000 as a deal on selected models including the MY 23 F-150, some Ranger models and MY24 Transit Van. VW has great priced deals on numerous MY24 models including free on road costs on selected Amarok models. Honda is offering price reductions on selected SUV models, and Hyundai varying bonus offer on MY24 models. At Mazda, buyers will also find bonuses on MY24 models including the very popular CX5 and CX3. All information is as currently sourced, and buyers should check with their local dealer and review the terms and conditions relating to individual offers. Offers may be available for a limited time and while stocks last. ## Guide to Finance for Plate Clearance Car Sales These types of sale events are on new vehicles so buyers requiring finance will typically be considering a [Secured Car Loan](/secured-car-loans) for private buys and [Lease](/car-lease), Chattel Mortgage or CHP for business buyers. New vehicles financed with secured loans attract the best available rates from lenders, compared with used vehicle finance. With the vehicle accepted as the loan collateral, lenders may approve higher loan amounts, allowing some buyers to borrow more of the purchase price, possibly with no deposit. Where the deal includes a price discount and less finance is required, the lower borrowing limit, compared with paying the non-discounted price, may attract a better interest rate. Note that some deals are cash backs and free extras, not actual price cuts. Some brands and dealers may be offering buyers a discount on finance. If considering dealer finance, we advise you to consider – is this the best loan deal I could achieve? Dealer finance is typically arranged through an arrangement with one credit provider. With our broker services, we have access to over 80 lenders to source the most competitive rates and best deals for customers. Request a quote from us to compare with any other finance deals you may be offered. You may find our rates and offers are more competitive. Our [online finance calculator](/car-finance-calculator) can be used to work up quick estimates to compare, even when you are at the dealership. The nature of these sale events means stock is limited. Buyers often need to be fast to secure their preferred model. Having finance pre-approved may assist. Knowing your loan is approved allows confidence to commit to a sale immediately and not miss out. Loans can be applied for ahead of purchase and conditionally approved based on an estimated borrowing. The details are finalised and final approval obtained after details of the vehicle purchased are provided. Pre-approved loans are valid for a timeframe which we will advise. If not used, the offer simply expires. ## Getting Fast Car Finance Approval Whether seeking pre-approved or post-purchase finance, many applicants will receive approval within 24 hours and we’ll assist with settlement to expedite your new vehicle purchase. If in the market for a new vehicle this year, this may be an ideal time to make your purchase. **Contact Jade Car Loans 1300 000 003 to secure affordable finance to capitalise on the current plate clearance car sales.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What is NVES, New Vehicle Efficiency Standard? Will it affect my car loan?](https://www.jadecarloans.com.au/blog/nves-impact-on-car-loans) **Published:** January 20, 2025 **Author:** Publisher **Excerpt:** What is NVES? The New Vehicle Efficiency Standard sets new emissions targets for new cars and light-commercials that manufacturers must meet or face penalties. **Content:** What is NVES? The New Vehicle Efficiency Standard sets new emissions targets for new cars and light-commercials that manufacturers must meet or face penalties. The targets are averaged across each manufacturer’s range of vehicles sold in Australia. The more low-emission vehicles, eg EVs in a brand’s range compared with ‘dirty’ fuel vehicles, essentially the better the outcome for that manufacturer. The new standard commenced on 1 January 2025. Supporters of the policy claim it will boost sales of EVs, bring Australia in line with global trends and contribute to achieving emissions targets and save car owners on fuel costs. Detractors essentially say it will increase the price of new non-electric vehicles. According to the Government, this new policy will encourage manufacturers to bring more ‘cleaner’ cars into the Australian market and provide buyers with a greater choice of EVs. While the penalties for exceeding the targets will apply to the manufacturer, it is possible that the cost will be passed onto buyers with higher vehicle prices for some models from some brands. For buyers in the market for a new car this year, there are many aspects of the new Standard to consider. In regard to motor vehicle finance, the Standard does not affect the types of loans and how loan offers are made. But the price of the vehicle being financed can affect the funding required. To assist buyers to better understand this major change to the Australian motor vehicle market, we cover off on a few of the issues in as simplistic terms as possible. Our brokers are on hand by phone or online, to assist with specific questions about your vehicle finance. ## What is NVES? Simple Explainer The New Vehicle Efficiency Standard sets a CO2 target for all new cars sold in Australia. Different targets apply to passenger cars and light commercials with 4500kg GVM or less. The emissions for each vehicle in a brand’s range are checked and averaged across the maker’s range. Manufacturers must offer more fuel-efficient and low-emission models to meet the targets and offset the dirty fuel models, or they are fined. The new Standard brings Australia’s current emissions standards into line with Europe and other parts of the world. The Standard only applies to new not used cars. We appreciate that buyers will have many questions about this change and we encourage you to refer to [the dedicated website](https://www.infrastructure.gov.au/infrastructure-transport-vehicles/vehicles/new-vehicle-efficiency-standard) which addresses many issues. ## What is NVES Effect on New Car Ranges? The Standard is a major change for the Australian car market, and it is expected that buyers will see a change in the range of vehicles available. Vehicles that do not meet the targets are not banned. But manufacturers will likely start introducing more hybrids and EVs into their ranges. Where manufacturers are unable to offset less efficient models in their ranges with the more fuel-efficient models, buyers may see some models discontinued. Manufacturers with numerous hybrids and EVs in their line-ups may easily meet their targets. Those that sell more of the less-efficient models may not meet the target and those brands may be where buyers see the most changes. Changes in model line-ups or changes in prices to cover the fines faced by manufacturers. The penalties come into effect a few years down the track as the standards for emissions become tighter each year. Buyers still keen on purchasing a high-emission model may see price increases. The way the policy is applied to car manufacturers is complex with ranges assessed yearly and given interim emission values. If the brand does not meet the required target, they are given time to, and if the target is not achieved, a penalty schedule comes into effect. It should be stressed that car buyers do not receive the fines for buying high-emission vehicles. The manufacturer faces the penalty, but some are reported as saying this cost will need to be passed onto buyers with price increases. How much the price of a particular model may rise by, and when, will vary across the market. With a greater selection of hybrids and EVs expected on the market, we may see better pricing on these models. The higher price of EVs compared with petrol models has been seen as major barrier to going electric for many buyers. Could be the time to reconsider your EV options. Though the [FCAI](https://www.fcai.com.au) says the Government will need to do more around supporting EV sales in order to achieve its NVES targets. ## What is NVES Impact on Car Finance? Key to many new vehicle purchases is the finance. The cost of the vehicle affects how much a buyer needs for the loan and that in turn affects repayments. The new Standard won’t affect the features and benefits of [Personal Secured Car Loans](/secured-car-loans) and [Business Vehicle Finance](/commercial-hire-purchase) products, the rates, terms and the way that lenders approve loans. One consideration is the loan applicant’s approved credit amount if vehicle prices are affected with this new Standard. Buyers considering different models – low and high emission options, can use our [Finance Calculator](/car-finance-calculator) to quickly estimate their loan to assist with their buying decisions. **To answer queries about what is NVES and its effect on your motor vehicle finance, contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [New drive in ’25? Know how to get best new car loans](https://www.jadecarloans.com.au/blog/best-new-car-loans-2025) **Published:** January 6, 2025 **Author:** Publisher **Excerpt:** Jade Car Loans outlines what buyers should address prior to selecting a vehicle and applying for finance, in order to secure the best new car loans. **Content:** You may have held off upgrading your vehicle in 2024 hoping for the [RBA](https://www.rba.gov.au) to cut interest rates or waiting for a new model to arrive. With no definite decision on when rates will be cut, perhaps it is time to get on with your purchase. Deferring the buying decision while waiting for a rate cut, may result in an increase in the price of the latest models. There are issues that buyers can consider and address themselves to ensure they do achieve the best new car loans. Being well-prepared and well-informed may contribute significantly to being offer the best rates and most workable finance terms, and result in the most affordable motor vehicle finance. Jade Car Loans outlines what buyers should address prior to selecting a vehicle and applying for finance, in order to secure the best new car loans. ## Eligibility for Best New Car Loans To know what to address to ensure the best finance is achieved, buyers should be aware of the eligibility requirements and the criteria used by lenders to approve applications and offer the best rates and conditions. Approval guidelines can vary with different lenders. To be eligible for a personal loan, applicants must be over 18 years of age and provide details of income, employment, residential status, assets and liabilities and other financials. To be eligible for business vehicle finance, applicants must have an ABN and ID. Financials on the business are requested, but we do have opportunities for new operators with ‘no financials’ vehicle finance available. This Low Doc and No Doc Finance may suit new operators, ABN-only holders, and many micro businesses and sole traders. Checking the requirements for your application and preparing documents ahead of applying, may streamline the application and approval process. The credit profile is critical with the good credit scores attracting the best interest rates. Borrowing capacity is the amount that a lender will approve to loan to an individual. This may determine the vehicle you select and/or the deposit you may need to make. ## New Car Loans – Finance Options Different types of finance products apply for private and business vehicles. A [Secured Car Loan](/personal-car-finance) will generally be the most suitable credit facility for buyers of new vehicles for personal use. The vehicle is accepted as loan collateral, higher borrowing limits may be approved, and rates are lower than for unsecured finance. Businesses have the choice of [Leasing](/car-lease), Chattel Mortgage and Commercial Hire Purchase. The decision as to the most suitable depends on the accounting method used by the entity and the financial objectives. Tax deductions are available on all commercial credit facilities. ## New Car Loans – Lender Variations The choice of lender – bank, finance company, dealer, can impact many aspects of the loan. Interest rates vary across the lending market as do approval guidelines. Some lenders may have special loan offers for buyers of electric vehicles. To find the best available rates and offers, buyers should be aware of the risk posed by requesting multiple quotes and making multiple applications. This may have a negative impact on the credit profile which may then result in a less than best offer. Using a specialist motor vehicle finance broker enables buyers to have the best deal from the most suitable lender found for them from across a large lender market, without impacting their credit score. Our broker services are available Australia-wide, for both private and business vehicle buyers. We have accreditations with 80+ lenders to ensure we can secure the best available rates for each buyer. ## Check Credit Profile for Best New Car Loans Addressing the credit profile prior to applying may contribute to a better loan offer. Buyers can use the advice from [Moneysmart](https://www.moneysmart.gov.au) for ways to improve their score. In addition, buyers may consider reducing their debts. Lenders will review the balance sheet, ie debts compared with assets and income, for both individuals and businesses. Owing less can improve that balance sheet and may result in a better offer. ## Borrowing Capacity & Choice of Vehicle Selecting a vehicle in line with your borrowing capacity may streamline the financing process. Applying for a loan for an amount greater than the approved credit limit, may result in the need to unexpectedly have to make a larger deposit. Prior to selecting a vehicle, buyers can apply for pre-approved finance with us and have the confidence of knowing their credit limit and having their loan approved before finalising a purchase. Allowing buyers to better set a price target for their vehicle purchase. ## Comparing Best New Car Loans While comparing vehicles to purchase, buyers can also compare vehicle finance options using our [Vehicle Finance Calculator](/car-finance-calculator). The calculator can be used to generate estimated repayments based on different interest rates, different borrowing amounts and over different terms. Business buyers can also include a balloon in their calculations. The calculator can make it easy to compare how much extra in monthly payments a higher priced vehicle may cost. Simplifying the selection process and potentially getting behind the wheel of that new vehicle sooner. **To secure the best new car loans, contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Duel of the year – Best Dual Cab Chassis Award](https://www.jadecarloans.com.au/blog/best-dual-cab-chassis-award-2025) **Published:** December 9, 2024 **Author:** Publisher **Excerpt:** Buyers looking for the best dual cab chassis based on affordability, may look to Jade Car Loans for competitive rate finance on private and business vehicles. **Content:** When selecting a new ute, most buyers will want the best vehicle. But which brand or model is the best? The Toyota HiLux and Ford Ranger duel it out for top spot each month in the motor vehicle sales figures, but are sales the indicator of the best dual cab chassis on the market? No doubt discussions around the top ute are held on work sites and camp sites on a regular basis. For some buyers their indicator will be affordability and price. For some, it will be towing capacity or cargo space. For others it might be the tech and safety features. While for many, it will definitely be all about brand loyalty. To assist buyers in the market for a top ute, and to save friendships with those ‘which is the best’ discussions, we defer to the experts and share their assessments. The experts at Drive deliver their verdict each year, naming the best dual cab chassis vehicles available in the Australian market in their annual Car of the Year Awards program. The 2025 awards program is underway with the contenders in the dual ute categories already announced and the finalists to be named soon. The winner won’t be announced until February, but buyers wanting to purchase a new vehicle now, can consider the awards contenders along with the latest monthly sales figures. The sales duel continued in November but with some surprises. The RAV4, an SUV, remained on top of the sales charts for another month, leaving Ford’s Ranger at number 2 best-seller. Once again Ranger beat out arch-rival HiLux which came in at number 4 best-seller. Both were down on the previous month. The Toyota Prado was a surprise top performer, also edging above stablemate HiLux. But as cautioned by the [FCAI](https://www.fcai.com.au), sales could be dependent on availability, with some sales representing pre-orders. ## Best Dual Cab Chassis Awards Contenders To be a contender in the Car of the Year, vehicles must be new or significantly changed from any earlier model, be on the market in Australia during the judging year and meet other criteria. There are 19 categories in total, including 3 for dual utes. The contenders are named first, then the finalists. The team of judges embark on an in-depth judging process to finally name the winner in each category. The Best Dual-Cab Ute under $100,000 category will be the category of keen interest to the majority of private and business buyers. These are the go-to work vehicles for businesses in many industries including construction, agriculture and resources. For private buyers, these are great vehicles to tow cars and boats and/or carry dirt bikes and other recreational gear. The contenders for this year include the defending award winner from 2024, the [Ford Ranger](https://www.ford.com.au/showroom/trucks-and-vans/ranger/), plus the Toyota HiLux MHEV, Isuzu D-Max, GWM Canon Alpha, BYD Shark 6, Mitsubishi Triton and Toyota’s LandCruiser. For buyers judging their concept of the ‘best’ – based on price, the category for utes under $50,000 may be of interest. Won last year by the SsangYong Musso which is a contender for 2025 along with the Mitsubishi Triton, JAC T9 and the LDV T60. The ute categories also include a new one – large dual-cab under $150,000. Some models not available in time to be eligible include the RAM 1500. This category covers utes that offer greater space, power and capability than models in the other categories. If increased everything is your criteria for the ‘best ute’ consider these contenders – the Ford F-150, Chevrolet Silverado and the Ineos Grenadier Quartermaster. These may suit buyers looking for increased capacity for towing, whether that be a boat, caravan or work equipment, or looking for more power to tackle tougher environments. ## Selecting the Best Dual Cab Chassis on Affordability The size, specs, power and capacity may influence buying decisions for some purchasers. Each buyer will have their personal criteria for which is the right vehicle for them, and that can come down to affordability. But rather than making the assessment based purely on the vehicle price, that affordability factor may be based on the finance. Buyers looking for the best dual cab chassis based on affordability, may look to Jade Car Loans for competitive rate finance on private and business vehicles. Our brokers individually secure the most competitive rates on [Secured Car Loans](/secured-car-loans) for private buyers and across the full selecting of [commercial credit](/overview-of-business-car-finance) facilities for businesses. To assist with deciding the affordability of any model up for this year’s awards, buyers can get rough repayment estimates using our [Car Finance Calculator](/car-finance-calculator). The calculator makes it quick and easy to compare vehicles based on price. Pricing guides can usually be obtained from the manufacturer’s website and used as the loan amount total when calculating estimates. Simply change the loan total to the price of another vehicle, and easily compare repayments and assess affordability based on your individual criteria and requirements. **For a quote on financing one of the contenders for best dual cab chassis of the year contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Major upset in latest car sales data - Top Seller Toyota RAV4](https://www.jadecarloans.com.au/blog/major-upset-in-latest-car-sales-data-top-seller-toyota-rav4) **Published:** August 19, 2024 **Author:** Publisher **Excerpt:** Jade Car Loans assists buyers get into a best-selling new vehicle, with highly competitive rates and individually sourced solutions on Toyota RAV4 finance. **Content:** Some trends have not changed markedly in the monthly car sales data in recent times. According to the FCAI, strong sales have continued, and we’ve continually seen HiLux and Ranger battle it out, swapping places for top selling vehicle month after month, with just a few exceptions. But the July 2024 new car sales results reveal quite the upset with the [Toyota RAV4](https://www.toyota.com.au/rav4) taking out top spot as the best-selling vehicle for the month. The increase in sales for this popular SUV was significant – 115% above July 2023 sales. Putting some perspective on the figures, it was not long ago that Toyota had delivery timing challenges with this popular model, with many buyers on dealer wait lists. But that situation appears to be resolved with nearly 6,000 buyers driving out of dealerships in their new RAV4 in July. The total sales of new vehicles for July 2024 was impressive, setting a record for the month of July. According to Tony Weber, the Chief Executive of the [FCAI](https://www.fcai.com.au), the result is remarkable given the pressures on costs of living. It would have been even more impressive had the Tesla and Polestar figures been included in the official data. These brands are no longer reporting their sales to VFACTS, the body that compiles the data. Buyers in the market for a new vehicle may be interested in the trends and breakdown of stats for ideas and inspiration for what their next vehicle may be. We cover off on the July new car sales figures and how we can assist buyers with our competitive interest rate business and private finance deals. ## FCAI Monthly Car Sales Wrap In reporting the July car sales figures, Tony Weber noted a number of key points. Hybrid sales have increased markedly – PHEVS up 128.9% and hybrids up 88.4%, while battery EV sales are down slightly on July last year. He notes that most of the sales of RAV4s are hybrid models. Despite a great start to the calendar year, Mr Weber said that with the upcoming introduction of the New Vehicle Efficiency Standard and conditions in the economy, the auto sector is remaining cautious. An interesting observation of the data is that sales to private buyers show a 4.2% drop while business buyer sales recorded a 13.7% increase and government buyer sales a 37.5% increase. Another interesting point in the data is the slight increase in sales for passenger vehicles compared with July 2023 and the slight drop in SUV sales. In recent years SUVs have overtaken passenger car sales as buyers move to this versatile body type. ## Trends, Brands and Models to Watch If you want to be on trend with current new vehicle buyers, the data reveals – go hybrid and go Toyota. Hybrid sales are up while battery EV sales are down. Toyota continues its dominance of the new vehicle market with four models in the top ten best sellers for the month. Mazda maintains its position in second for the month. But as a casual observation, Toyota does offer an extensive range of models across passenger, SUVs and light commercials, especially compared with some other brands. The leading brands are reported each month but based on sales over the calendar year to date. The top ten to end of July 2024 were Toyota, Ford just ahead of Mazda, then Kia and Mitsubishi, Hyundai, Isuzu Ute, MG, Nissan and Tesla in tenth place. The leading 10 best-selling vehicle models are reported for the month. As mentioned, Toyota’s RAV4 took the top spot on the podium, over 1,000 units ahead of second placed Ford Ranger which was just a few hundred units ahead of rival Toyota HiLux. Two more Toyota models followed – Corolla and LandCruiser, then the D-Max by Isuzu, Ford’s Everest, the Mitsubishi Outlander, Mazda CX-5 and rounding out the top 10, the MG ZS. ## Getting Best Finance on Toyota RAV4 Depending on the model variant, fuel system and options, buyers can be looking at a price range of around $50,000 to up around $70,000, plus the usual on road costs, to get into a 2024 model Toyota RAV4. While rough price guides are useful, for buyers requiring finance, the real figures to consider can be car loan interest rates and individual loan repayments. Jade Car Loans assists buyers get into a best-selling new vehicle, with highly competitive rates and individually sourced solutions on Toyota RAV4 finance. For private buyers, our [Secured Car Loan](https://www.jadecarloans.com.au/secured-car-loans) should suit a RAV4, while business buyers have their choice of [RAV4 Lease](https://www.jadecarloans.com.au/car-lease), Chattel Mortgage and Commercial Hire Purchase. Use our [finance calculator](https://www.jadecarloans.com.au/car-finance-calculator) with advertised RAV4 pricing from your local dealer for rough estimates, to compare the different variants and decide what optional extras you may like on your vehicle. Don’t forget to deduct the estimated value of your trade-in when entering the loan amount required. To expedite delivery of your RAV4, contact us for personal attention to your specific requirements, fast approval and prompt settlement. **Contact Jade Car Loans 1300 000 003 for the competitive rates on Toyota RAV4 finance for private and business buyers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Leaving school and want a car? Guide to young driver car loans](https://www.jadecarloans.com.au/blog/leaving-school-and-want-a-car-guide-to-young-driver-car-loans) **Published:** September 16, 2024 **Author:** Publisher **Excerpt:** As specialists in motor vehicle financing, Jade Car Loans assists school leavers with options to secure affordable young driver car loans for their first car. **Content:** The end of the year brings the end of school for many students and with that, the goal to get their own car. Having their own car can provide young people with access to greater work opportunities, safer and more reliable transport to tertiary education institutions, especially if attending night lectures, and build independence and personal responsibility. But a major drawback to achieving this goal can be securing young driver car loans. Especially in the current economic conditions, it may be unrealistic to think that a young person or their parents, guardians or other family members would have access to cash to buy a motor vehicle. Leaving the alternative of securing finance to purchase the vehicle. In our guide to young driver car loans, we cover off on how we may assist with financing options including:- parents or others purchasing the vehicle and taking on the finance; school leaver taking on the car loan with a guarantor; and the prospects for a school leaver taking on finance themselves. ## Requirements for Young Driver Car Loans An important issue to be mindful of is that personal car finance falls under the lending category of Consumer Credit. This sector is regulated by [ASIC](http://www.asic.gov.au) which stipulates the requirements for applicants and Responsible Lender Guidelines for lenders offering personal loans. The basic requirements for approval for personal credit include: being over 18 years of age; having employment and income; various forms of identification; and fixed residential address, amongst others. Lenders will also typically require the applicant to have a credit profile which can be checked. The applicant must provide the lender with their financials for assessment. These documents can include tax returns, bank statements, proof of income and similar. Where a young person can meet these requirements, they may proceed to apply for car loan in their own name. Where they don’t meet these requirements, they may consider other options. ## Guarantor Option A convenient way for individuals of all ages that do not meet application requirements to get source credit is the arrange a guarantor. A guarantor is a person who guarantees the loan. This means, should the borrower default on the loan by failing to meet their repayment obligations, the guarantee is responsible to pay the money owed to the lender. A parent, guardian, family member or friend that meets the requirements may go guarantor for young driver car loans. Before agreeing to take go guarantor, it can be wise to consider all the responsibilities and risks as outlined at [Moneysmart](https://moneysmart.gov.au/loans/going-guarantor-on-a-loan). ## Young Driver Car Loans Considerations Whether applying for a loan as a first-time car loan applicant, with a guarantor, or even if parents or others are taking on finance to provide a vehicle for a school leaver, there are a number of considerations in deciding which is the most suitable way to go. A first car for a school leaver is typically a second-hand model. Buyers should be aware that there can be differences in finance for new and used vehicles. New vehicles are generally accepted as collateral for a [Secured Car Loan](/secured-car-loans). Used cars need to be assessed by lenders as suitable collateral. Where not accepted, an Unsecured Personal Loan can be considered. [Interest rates](/car-finance-interest-rates) for new and used car loans can vary. Using a finance calculator may assist in making that buying decision. The loan to value ratio on a used car may not be approved by a lender. This may require the amount be lowered by making a larger deposit. Vehicles under finance must be insured and the cost of motor vehicle insurance for a young driver also considered. School leavers may not have the necessary documents to apply for finance and may not have established a credit history for lenders to check. On the positive side, taking on finance may contribute to good approach to financial responsibility, and provide an opportunity to start building a good creditprofile through meeting repayment commitments. ## Services to Secure Young Driver Car Loans Before discounting one or any of the school leaver car finance options available, speak with our experts and request quotes for consideration. As specialists in motor vehicle financing, Jade Car Loans assists school leavers with options to secure affordable young driver car loans for their first car. With our extensive lender base, we have access to lenders that approve loans for individuals that do not have a credit history. We select the lender that is best suited to the individual requirements to ensure the best interest rates and workable repayments. In preparation to apply for a car loan, buyers can use our online calculator for rough estimates and to compare new and used car loans. Being mindful that any rate offer is based on an individual assessment of the application. **To discuss your options for young driver car loans and for assistance in securing a workable outcome, contact Jade Car Loans 1300 000 003**. *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Should you buy now or wait and save for deposit? Compare Deposit and No Deposit Car Finance](https://www.jadecarloans.com.au/blog/should-you-buy-now-or-wait-and-save-for-deposit-compare-deposit-and-no-deposit-car-finance) **Published:** September 30, 2024 **Author:** Publisher **Excerpt:** Jade Car Loans provides resources to empower buyers to compare no deposit car finance with making a deposit to help with deciding on the right time to buy. **Content:** There are many decisions to be made when buying a new car with finance. One major question is around the deposit – do you buy straight away and apply for no deposit car finance or wait while you save for a deposit? Jade Car Loans provides resources to empower buyers to compare no deposit car finance with making a deposit to help with deciding on the right time to buy. In this article, we cover how a deposit affects the car loan, the eligibility for no deposit finance, present issues for buyers to consider, and remind buyers to use our calculator to easily compare loan options. ## Know the Effects of Deposits on Car Loans Making a downpayment to a car dealer and borrowing less than the total purchase price clearly reduces the loan amount compared with making a lesser or no deposit. A smaller loan means less total interest payable and a lower overall vehicle acquisition cost. The benefits of borrowing less than the value of the vehicle may include being approved for a higher borrowing limit which may enable purchasing a better car, and possibly a better interest rate. With the loan to value ratio (LVR) lower when paying a deposit, lenders may see the application as a lower risk and offer a better rate. ## Eligibility for No Deposit Car Finance No deposit car finance is available on [Secured Personal Car Loans](/secured-car-loans) for private vehicle buyers, subject to lender approval. With the vehicle used as collateral, lenders have the guarantee of recouping the funds should be the borrower default. To be eligible for no deposit motor vehicle loans, applicants must be approved by lenders and the vehicle is taken into consideration in the process. Approval is more easily given to businesses than for individuals purchasing vehicles for private use. Private buyers will be assessed for their borrowing limit, with lenders considering the LVR, financials and credit profile. New vehicles can more easily be accepted for no deposit finance compared with second-hand vehicles. Lender approval criteria does vary across the market. We can assist by selecting the lender that best matches the applicant’s profile and requirements. ## Save More or Apply for No Deposit Car Finance? There are a number of key issues to consider when deciding whether to buy now with no deposit or wait while you save more for a deposit. For starters, consider what is happening in the motor vehicle market. By how much could the price of the model you are consider increasing over the time you are saving for a deposit? A price increase which may increase the loan amount required, regardless of downpayment. On the ‘wait and save’ side, having a larger downpayment reduces the amount required for the financing, which may attract a better rate offer, as well as requiring less each month to repay the smaller loan. Provided the vehicle price does not increase significantly over the saving period. Buyers can always consider a different model, more suited to their price range and borrowing limit. If you plan to trade-in your current vehicle, the value of your vehicle could decrease over time, leaving a greater differential to cover with finance. The [interest rate](/car-finance-interest-rates) situation will be a key consideration for many buyers. At its September meeting, the [Reserve Bank (RBA)](https://www.rba.gov.au) once again held the cash rate steady. While many are anticipating and waiting for a rate cut, that may not start happening until 2025. The markets appear to have a range of expectations on the first rate cut with forecasts ranging from December 2024 through to May 2025. If holding off on securing a car loan until rates are reduced, exactly how much could you save? Consider by how much the RBA may cut the cash rate and how much lenders in the car finance market may then cut their rates, and use a finance calculator to see the differential with current rates. Could you be better off by buying now possibly with no deposit car finance and putting the amount that is intended for savings towards loan repayments? Another issue is how important is it to have a new vehicle now with no deposit car finance? Will the current vehicle require significant repair and maintenance expenses while waiting to save for that deposit? Many new vehicles come with free servicing periods. Some of these issues relate to specific, individual personal financial circumstances. Individuals requiring advice on the personal financial position should speak with an accountant or financial advisor. Our role as a broker is to source the best loan, not to advise on personal financial circumstances. ## Tool to Compare Deposit and No Deposit Car Finance To assist in making these critical buying decisions, buyers can use our [Car Finance Calculator](/car-finance-calculator) to compare repayments on no deposit car loans with repayments when a deposit is made. Comparisons may also be made with different interest rates to assist with decisions around purchase timing. Buyers can calculate estimates to see how much less the monthly repayments would be at lower interest rates. **To discuss your options for no deposit car finance and for no obligation quotes to assist with timing your car purchase with finance, contact Jade Car Loans 1300 000 003**. *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Long or short? What are the best car loan terms?](https://www.jadecarloans.com.au/blog/best-car-loan-terms) **Published:** October 14, 2024 **Author:** Publisher **Excerpt:** Using the services of Jade Car Loans, buyers can have the most suitable lender selected as a move towards having their best car loan terms approved. **Content:** The term of a motor vehicle finance deal is the time it will take for the borrower to repay the loan in full. Lenders can display terms as years or months. So, should buyers be looking for the longest or the shortest terms to repay their vehicle finance? What is the Goldilocks or best car loan terms? While many vehicle buyers seeking finance will typically consider the interest rate and their deposit requirements, possibly less attention is paid to the financing term. The term of a loan can have a significant impact on many aspects of the financing and potentially even on the credit score of the borrower. There can also be benefits from both shorter and longer financing terms. While the buyer’s preference for their best finance term car loan is up to lender approval, buyers can prepare ahead of time by planning their preferred term to repay their loan. To guide buyers in determining their best motor vehicle finance term, we provide an overview of the impacts of the term, calculating car loan terms, and our we may assist both individuals and business owners achieve the most suitable repayment term. ## How Car Loan Terms Affect the Finance The impact of repayment periods on finance basically include:- when the buyer will have full ownership of the vehicle, how much the monthly repayments are, and on the total interest payable on the loan. Motor vehicle financing terms can vary from 1 years or 12 months, up to 7 years or 84 months. The longer the repayment period, the longer it will take to own the vehicle. The monthly repayments involve the amount of the loan, the interest rate and the period over which the loan is taken. A shorter repayment period will result in larger monthly repayments compared with a longer repayment period. Borrowing funds over longer repayment periods can accrue more interest in total, compared with borrowing over a shorter period. This can increase the total acquisition cost of the motor vehicle. ## Deciding the Best Car Loan Terms – Considerations So, what should you consider when deciding on your Goldilocks repayment period? Business owners can have different reasons from individuals taking on personal car loans. But a universal reason can be budget – achieving a repayment period which delivers a monthly repayment amount that works with budgets. A term that makes buying a new car an affordable option. The ownership issue may come down to personal preferences, but there is also any effect on the credit profile to consider. A longer term leaves the commitment on the credit profile for a longer period. Lenders review both personal and business balance sheets and credit profiles when assessing loan applications. If loans for other purposes are planned during the time the vehicle is being paid off, this should be considered. Another angle on the ownership issue can be how long buyers intend to keep the vehicle being financed. Lenders can apply fees for loans that are finalised before the end of the agreed fixed repayment period. Opting for a financing term in line with plans for upgrading can avoid any fees and may provide a better outcome with any resale or with the trade-in. For those seeking certainty, our business financing products and Personal Secured Car Loans attract a fixed interest rate and fixed terms to provide for fixed monthly repayments. So whatever repayment period is achieved, there would be no change to the amount paid each month with rate changes as per [RBA](https://www.rba.gov.au) rate changes. Private buyers taking on a [Secured Car Loan](/secured-car-loans) also have the option of being able to make extra payments on top of the regular monthly requirements. This effectively reduces the amount of time to finalise the loan, with only minimal fees applying. The amount borrowed is a direct effect on the monthly repayments. If affordability is a key factor, buyers can consider making a larger deposit to reduce the amount needed and hence reduce the need for a longer repayment term. ## Using a Calculator to Decide Your Best Car Loan Terms Now to the practical calculations of deciding preferences for motor vehicle finance repayments. Before applying for finance and even before deciding which vehicle to purchase, buyers can use our [Car Loan Calculator](/car-finance-calculator) to work out their loan preferences. All values entered can be varied to arrive at the repayment amount that suits the budget. The length of the term can be varied to see how that changes the repayment. Terms available up to 7 years for some applicants. Make sure the interest rate for the credit product required is entered. ## Getting the Best Car Loan Terms While buyers can have their preferences with repayment terms, ultimately it is up to the lender for approval. The way lenders assess and approve applications varies across the market. Using the services of Jade Car Loans, buyers can have the most suitable lender selected as a move towards having their best car loan terms approved. We have access to over 80 lenders, ensuring we can match each buyer with the most suitable lender. And your Jade broker will handle the negotiations to achieve the most suitable financing with the most suitable terms and repayments. **To have an expert source your finance with the best car loan terms, contact Jade Car Loans 1300 000 003**. *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [How to trade-in a car when buying new with finance](https://www.jadecarloans.com.au/blog/trade-in-car-buying-new-with-finance) **Published:** October 28, 2024 **Author:** Publisher **Excerpt:** The experts at Jade Car Loans explain the options, alternatives and possible outcomes when deciding to trade-in a car when buying a new vehicle with finance. **Content:** When buying a new vehicle, most buyers will be looking to trade-in their current vehicle. But is this the only or the best option? What should buyers taking on finance consider? The experts at Jade Car Loans explain the options, alternatives and possible outcomes when deciding to trade-in a car when buying a new vehicle with finance. Buyers have a number of ways of disposing of their current vehicle when purchasing a new one. Different options which can present both positives and negatives for the new car financing. Understanding the process, and knowing what options are available to you, may contribute to the best outcome on the new finance arrangement. ## Overview: Trade-in a Car When buying a new vehicle, owners can either sell their currently vehicle privately or trade it in on the new vehicle. The process of trading-in involves the dealer assessing what they are prepared to pay for the vehicle. Buyers may be offered the choice of deducting that value from the price of the new vehicle or taking the cash payment. This may be up to the dealer. The amount a dealer is willing to offer on a trade will depend on their profit margin on the new vehicle. The price offered will reflect the wholesale value. Where a dealer has their own second-hand lot, they often choose to sell the vehicle themselves. Alternatively, they will be looking to on-sell it to another second-hand motor vehicle dealer, usually in the wholesale market. Buyers can consider whether they may get a better price on the current vehicle by selling it themselves. Dealers will offer a wholesale value while a private buyer may be prepared to pay more – a retail price. But the process of selling a vehicle privately is not for everyone. It can be challenging, time-consuming, and sellers must be alert to online scams when selling on the popular online platforms. Whichever way you dispose of a current vehicle, you must sign the transfer of registration on the registration papers. Take a picture of the papers as your record of this. If finance is still owed on the vehicle, this must be finalised. If trading the vehicle, the dealer finalises the amount with the lender on settlement of the new vehicle. When a vehicle under finance is being traded in, dealers take that amount into consideration when making offers. The seller will be required to pay break fees for finalising the loan prior to the end of the fixed term. Lenders will have registered their interest in the vehicle with the [PPSR](https://www.ppsr.gov.au) and this will be released when the loan is finalised. Prior to visiting a dealership, consider contacting the lender for a pay-out figure on your loan. This will provide an indication of what you need to achieve with the trade, and you can advise the dealer of the outstanding loan balance. ## Effects on the Loan When You Trade-in a Car If the vehicle is not under finance, opting to have the trade value deducted from the purchase price may have positive outcomes for your loan. It immediately lowers the overall amount required and as such, lowers the repayments. The value of the trade can be seen as the deposit which saves the buyer using cash as the downpayment. By lowering the amount required for the loan, the LVR (loan to value ratio) is improved, which may contribute to a better loan offer compared with borrowing 100% of the purchase price of the vehicle. ## Getting Better Interest Rates When You Trade-in a Car A better motor vehicle interest rate may be achieved when using the existing vehicle as the deposit. Lenders may perceive the application with lower risk and make a better offer. The lower rate can then contribute further to lowering repayments, which may make the purchase even more affordable and workable. This may apply for both [Secured Car Loans](/secured-car-loans) for private buyers, and commercial credit facilities for business buyers. ## Planning Finance with a Car Trade-in The big tip when planning to use an existing vehicle as a trade on a new vehicle is – be realistic. You may love your car, kept it in great condition, given it a pre-trade detail, checked the used vehicle ads for an idea of what they are fetching on the second-hand market, ticked all the boxes. But the reality is, what you are offered is up to the dealer. In many instances, the value offered is not what the car owner expected, it can be lower. When planning your purchase with finance, it may be astute to either consider repayment estimates based on 100% of the purchase price or allow for a range of trade values. Calculate loan estimates using our [Motor Vehicle Finance Calculator](/car-finance-calculator). If planning to use a trade and applying for finance prior to purchase, advise our brokers when briefing of your requirements. We have industry-level connections and may be able to source a realistic value for the trade before you speak with the dealer, for better planning purposes. The information may assist us to achieve an even better motor vehicle finance outcome for you. Our brokers are specialists in motor vehicle financing, and we know the car industry. Speaking with us prior to purchase may help to clarify your options and make the decision that is in your best interest. **If planning to trade-in a car on a new car with finance purchase, contact Jade Car Loans 1300 000 003 for the best finance offers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Looking for the best SUV? Check out which models are selling best](https://www.jadecarloans.com.au/blog/best-selling-suvs-compared) **Published:** November 11, 2024 **Author:** Publisher **Excerpt:** Buyers seeking the best SUV to suit their road trip plans or lifestyle can secure the best rates on car finance and fast approval through Jade Car Loans. **Content:** The market for SUVs continues to thrive with this versatile vehicle suiting many drivers and lifestyles. Offering options for work and play, families and friends, and a great vehicle for a road trip. With the holiday season looming, many buyers will likely be on the lookout for the best SUV for their road trip, or to update their current vehicle for the new year. So how do buyers find that elusive best SUV? With the annual car awards as judged by motoring experts not announced until early 2025, buyers may take direction from what other buyers are purchasing – the car sales reports. The [Federal Chamber of Automotive Industries (FCAI)](https://www.fcai.com.au) releases the motor vehicle sales figures each month and lists the top sellers overall, and for a number of vehicle categories including SUVs. For October, the [Toyota RAV4](https://www.toyota.com.au/rav4) continued its run as the top selling vehicle overall and presents one of the most versatile SUVs for buyers to consider. We provide inspiration and ideas for buyers in search of the ideal SUVs and how they can purchase their choice with the best motor vehicle finance. ## October Car Sales Report In its report of October’s motor vehicle sales results, the FCAI revealed that sales have topped the 1 million unit mark for the year. While the market overall is easing, October 2024 was the second-best result for this time of year on record. An interesting point noted by FCAI Chief Executive Tony Webber, is the increase in new models of plug-in hybrids in the SUV segment. A segment traditionally dominated by diesel and petrol vehicles. While hybrids are selling well, sales of battery-electric vehicles overall, have slowed. ## Best SUV Models by Recent Sales In the monthly sales figures, results for SUVs are broken down into a number of price categories with the top 3 for each category reported. In the light category, the very popular Mazda CX-3 topped the sales charts, followed by the Toyota Yaris Cross and Suzuki Jimny. In the small category, under the $45k price point, the Hyundai Kona was the best-seller, followed by the MGZS, and then the Mitsubishi ASX. For small SUVs price over $45k, buyers were most attracted to the Audi Q3, the BMW X1, and the Mercedes-Belz GLA. If a medium sized vehicle is more your type of vehicle, the top 3 in the under $60k category were the RAV4, Kia Sportage and the Mitsubishi Outlander. For those with a bit more to spend, the over $60k category top sellers were Tesla Model Y, Lexus NX, and the Porsche Macan. Moving up in size to the large category under the $70k price mark, the Ford Everest was the top seller ahead of the Isuzu MU-X and in third the Toyota Kluger. For a large SUV over the $70k price point, consider top sellers the Land Rover Defender, BMW X5 and Mercedes-Benz GLE wagon. If you’re interested in a larger vehicle the Toyota LandCruiser was the top seller for under $120k, second top seller the Nissan Patrol, and the third, the Kia EV9. With a price tag over $120k, buyers were drawn to the Lexus GX, the BMW X7, and the Lexus LX. ## Top Selling Models and Brands Across All Categories Wondering where the SUVs ranked in overall sales? As mentioned, the RAV4 was the top selling vehicle for the month, followed by the Ford Ranger, Toyota HiLux, Ford Everest and Isuzu D-Max. More SUVs also made the top 10 top sellers including the Kia Sportage, Mitsubishi Outlander, Mazda CX-5, Hyundai Tucson and Hyundai Kona. Buyers drawn to particular brands may be interested in the top 10 best-selling auto brands for October. As usual, Toyota remains number one, with Ford nudging out Mazda to take second spot. Next came Hyundai, Kia, Mitsubishi, MG, Isuzu Ute, GWM, and Volkswagen. The results cover passenger cars, SUVs, light commercials, utes and sports models. ## Best SUV Finance Options If one of the latest best-selling SUVs, appeal to you, it’s not too late to obtain financing to secure a vehicle in time for an end-of-year road trip. Buyers seeking the best SUV to suit their road trip plans or lifestyle can secure the best rates on car finance and fast approval through Jade Car Loans. We provide loans for both private and business buyers. A [Secured Personal Car Loan](/personal-car-finance) will suit most private buyers of new SUVs. Businesses looking at SUVs as an attractive balance for work and lifestyle, can select from [Chattel Mortgage](/car-chattel-mortgage), Leasing or Commercial Hire Purchase. All are secured loans with the vehicle accepted by the lender as suitable loan collateral. Rates are fixed and individually sourced to ensure the most affordable financing is obtained. Buyers trying to decide on SUVs with different price tags can use our [Car Finance Calculator](/car-finance-calculator) to compare loan repayment estimates on the different models. If stock is limited on the model you are considering, secure financing ahead of your dealership visit to be in a position to say YES on the first test drive. **If looking to buy the best SUV in your price or size range, contact Jade Car Loans 1300 000 003 for the best finance offers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Trying to decide on a new EV? Contenders Revealed for Best Electric Cars Awards](https://www.jadecarloans.com.au/blog/new-ev-contenders-best-cars) **Published:** November 25, 2024 **Author:** Publisher **Excerpt:** Affordable financing from Jade Car Loans may make the pricing of the best electric cars on the market a more attractive and workable purchase for buyers. **Content:** Considering a move to an EV but can’t decide which brand or model to buy? It’s easy for buyers to get swept up in the brand hype or the dealer’s sales pitch when buying any new vehicle. When it is a vehicle with technology that they are not completely familiar with, buyers can understandably be hesitant. Fortunately, there are experts to assist by way of the annual Car of the Year program conducted by Drive. The best electric cars for the year are covered across several categories in the program. The awards program is underway for 2025 and contenders in the EV categories have been revealed. Over the coming months these contenders will be whittled down to finalists and in February next year the winner will be announced. We’ll be following the program at the different stages and posting updates. But at this stage, buyers may consider the lists of contenders for their purchase. The list is more extensive than the finalists and winner. Offering buyers more models to consider, which may be beneficial. Models that don’t make the finalists list according to the experts, may be the preferred option for many buyers. ## Car of the Year Awards Program – Overview Drive’s annual [vehicle awards program](https://www.drive.com.au/news/drive-car-of-the-year-2025-awards-are-go/) has been running since 2006 and is conducted to set rules and by expert judges. The decisions can be highly anticipated. The program covers 19 categories, with the list reviewed and amended annually to reflect the new vehicle market and to align with Australian buyers. The awards embrace urban, luxury, family, SUVs, EVs and utes. These major segments are then divided into categories priced on price. A valuable assist for many buyers where pricing is often the key deciding factor. The price categories don’t allow for discounts or other special offers The general rules for inclusion in the program are that the model needs to be new or significantly changed from a previous model and be available for sale before the end of the year of the program with vehicles available for the judges within the timeframe. ## Best Electric Cars – Category Contenders With such a large selection of EVs on the market, the awards program divides EVs into several categories. The category for under the $50k price addresses the budget market, the Family category below $100k focuses on the practicalities and space, the luxury category on what you would expect, and the Urban category under the $100k price point is quite diverse. This category considers all-round aspects, style and cutting-edge features. The contenders for the best urban EV below $100k include last year’s winner the Tesla 3, the Volvo EX30, [Mercedes EQA](https://www.mercedes-benz.com.au/passengercars/models/suv/eqa/overview.html), the Renault Megane EA-Tech, Smart Models 1 and 3, Zeekr X, two BMWs being the iX2 and i4eDrive 35, the Avenger by Jeep and the Audi Q4 e-tron. Plus for those wanting a smaller vehicle, the Abarth 500e and two Minis – the Cooper and Countryman Electric models. The contenders for Family EV below the $100k price mark offer a number of considerations for buyers looking for practicality and functionality. The Kia EV9 won this category last year and is a contender again along with stablemate the Kia EV5. Also contending are the VW ID Buzz, Hyundai Ioniq 5, Mercedes EQB, Skoda Enyaq, [Toyota bZ4X](https://www.toyota.com.au/bz4x-ev), Subaru’s Solterra and the Polestar 4. In the below $50k category there are less contenders with last year’s winner MG4 in the mix again along with BYD’s Seal Dynamic and Chery’s Omoda E5. Keep an eye out for which of these contenders make the finalist list! ## Securing Affordable Finance for Best Electric Cars While the awards showcase EVs within the price affordability zone of a range of buyers, the price tag of many EV models does tend to be higher than similar sized and optioned petrol vehicles. The pricing has been considered as a major hurdle to EV take-up in Australia. For buyers keen to embrace this, the financing may be key to the purchase decision. Affordable financing from Jade Car Loans may make the pricing of the best electric cars on the market a more attractive and workable purchase for buyers. We focus on assisting buyers get into their new electric vehicles with financing repayments that work with their budgets and/or cash flow. Securing the most competitive rates on [finance for private vehicle buyers](/secured-car-loans) and [for businesses](/overview-of-business-car-finance) purchasing vehicles for their operation. Our low rates ensure lower, workable repayments to make an EV purchase more affordable. Possibly being the clincher in moving from a traditional to new fuel system model. When considering the contenders for awards in the EV categories, use our [Finance Calculator](/car-finance-calculator) to work up loan estimates to assist with comparing purchase options. **To make buying the best electric cars on the market an affordable purchase, contact Jade Car Loans 1300 000 003 for competitive finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Buying Used Cars Privately: Our Top Tips](https://www.jadecarloans.com.au/blog/used-car-buying-tips) **Published:** December 4, 2024 **Author:** Publisher **Excerpt:** Discover essential tips for buying used cars privately, from safe payments and vehicle inspections to registration and ownership transfers in Australia. **Content:** If you’re searching for an affordable car, or a model not available in modern showrooms, you might be considering buying second-hand. However, when buying a pre-owned vehicle, there are several steps you need to take to ensure you’re getting the best value for your money. For your second-hand car, you have the option to purchase from a dealership or directly from the previous owner. Each choice comes with its own set of benefits and challenges. In this guide, we’ll focus on providing our top tips for buying a used car privately. ## Methods of Payment Buying a second-hand car is an exciting time for both the buyer and the seller. So, It’s easy to get carried away. But the awkward question of payment is an inevitable part of the process. With the prevalence of scammers on second-hand sites like Gumtree, eBay, and Facebook Marketplace, it’s important to know the safest payment method to ensure your hard earned dollars aren’t going to waste. To ensure you’re paying securely, consider paying via an in-person bank transfer or in cash at a secure location like a bank. Electronic transfers through mobile or online banking services are not the best option as funds can often take 1-2 days to clear. ## What to avoid When inspecting a used car, have a thorough look and take it for a good test drive. Poorly maintained vehicles or ones with serious accident damage should be avoided at all costs. Poor maintenance can be evident in engine oil, transmission fluid, and coolant leaks. Poorly fitted panels or mismatched paint can indicate that the car has been in a major crash, and by checking the Personal Properties Securities Register (PPSR) you’ll be able to confirm this. **PPSR** → Buying a used car comes with risk. Doing a car search on the [Personal Properties Securities Register](https://www.ppsr.gov.au/) can help you check if the car you’re buying is recorded as debt free, stolen, or written off. ## Buying out of state Australia is a big country. Which means buying a car interstate presents a lot of road between you and the vehicle you want to test-drive. So, what are the benefits and key considerations of buying a car from interstate? In a nutshell, buying your vehicle out of state is a good option when you want a cheap vehicle, and a wide variety of options. However, there are some complexities to be aware of. 1. **Inspecting the vehicle** Inspecting the used car you are buying is a crucial first step. By conducting a pre-purchase inspection you will be able to determine if the car passes your state’s inspection and emissions testing requirements. The inspection will also reveal whether the vehicle has any issues. If you are unable to do the inspection, you can pay a local mechanic to do a professional inspection on your behalf. 2. **Vehicle background checks** A vehicle background check will generally reveal everything you should know about your upcoming purchase, including its history. They also offer you access to hidden or missing information, such as whether it is clocked or stolen. 3. **Registration plates** Complete the registration process which includes paying the registration fee, submitting the roadworthy certificate, and providing proof of insurance. The rules surrounding registration differ in each Australian state. 4. **Insurance** You’ll need to notify your insurer of your new purchase to include it in your existing policy. If you don’t have a policy, you’ll need to arrange for car insurance before driving the vehicle, and even before you take possession of the car. ## Transfer of ownership In addition to registering your new pre-owned vehicle, you’ll also need to legally transfer the ownership of it. Each Australian state has slightly different rules when it comes to transferring vehicle ownership, so it’s important to know their requirements. **New South Wales (NSW):** You will need to complete an Application for Transfer of Registration and submit it to Service NSW with proof of purchase and identity. **Victoria (VIC):** You will need to complete a Vehicle Registration Transfer form and provide a roadworthy certificate to VicRoads. **Queensland (QLD):** You will need to submit a Transfer of Vehicle Registration Application to the Department of Transport and Main Roads, along with a safety certificate. **South Australia (SA):** You will need to complete an Application for Transfer of Registration and submit it to Service SA with proof of purchase. **Western Australia (WA):** You will need to complete a Notification of Change of Ownership form and submit it to the Department of Transport, along with proof of identity. **Tasmania (TAS):** You will need to complete a Transfer of Registration form and submit it to the Department of State Growth with proof of purchase. **Northern Territory (NT):**You will need to complete a Vehicle Registration Transfer Application and submit it to the Motor Vehicle Registry with proof of purchase. **Australian Capital Territory (ACT):** You will need to submit a completed Transfer of Registration form to Access Canberra with proof of purchase and identity. Keep in mind that registration is legally required to transfer ownership of a vehicle. ## Wrapping up Purchasing a used car privately can be a cost-effective way to find a vehicle perfect for you. However, by informing yourself of the various considerations associated with a second-hand vehicle purchase, you can ensure a smooth and secure transaction. **Thinking of Financing Your Second-hand Car? Talk to Jade Finance.** If you want to feel confident in your decision to finance your car, the only business that should come to mind is Jade Car Loans. An enviable reputation in the motor vehicle finance sector, [cheap interest rates](https://www.jadecarloans.com.au/car-finance-interest-rates), and a service tailored to your needs are just a few of the benefits you will receive through our personal and professional finance brokers. We have a large source of options available to ensure you are getting the right loan for you and your car. If respect and attention to detail is the kind of service you want, [**request a quote**](https://www.jadecarloans.com.au/approval) with Jade Car Loans today. **Categories:** Buying Tips --- ### [What buyers need to apply for a car loan and get best finance deal](https://www.jadecarloans.com.au/blog/what-buyers-need-to-apply-for-a-car-loan-and-get-best-finance-deal) **Published:** August 5, 2024 **Author:** Publisher **Excerpt:** Jade Car Loans experts assist buyers to apply for a car loan by handling the process on their behalf, sourcing the right lender and best interest rates. **Content:** When buying a new car, most buyers know how to go about the process – check-out options on websites, visit dealerships, test drive, ask for the best deal, make a decision, and confirm SOLD to the dealer or private seller. But when the purchase requires financing, not all buyers, especially first timers, may know the details of what they need to apply for a car loan and what is needed to get the best finance deal. Taking on finance is a very important step in buying a new car. Having information about the application requirements and process, may speed up the approval process, may contribute to securing a better interest rate and better finance deal, and in some cases, get the buyer behind the wheel of their new vehicle faster. Get up to speed on what is required to apply for a [personal car loan](/personal-car-finance) with this quick guide and use our online resources and personal services for individual assistance with the details. ## First Step – Check Your Eligibility The first step is to ensure you are eligible to apply for personal finance. The personal lending sector, known as Consumer Credit, is regulated through [ASIC](https://www.asic.gov.au), the body that sets the guidelines for lenders and applicants. Lenders offering private motor vehicle finance must adhere to these guidelines but may also have additional individual criteria for application approvals. To be eligible, applicants must: - Be 18+ years of age. - Be a permanent resident of Australia or New Zealand or have the correct visa. - Have a taxable, regular Australian income which can be verified. - Have a fixed and verifiable home address in Australia. - Have a credit profile with history and score that can be checked. Holding a driver’s licence is not an essential requirement. Beyond these essential requirements, lender criteria can include minimum and maximum loan amounts that they will approve, amongst other individual guidelines. The amount approved to individual applicants is the credit limit which is assessed by lenders. Buyers should look for lenders that do approve the loan amount being sought. Individual credit limits will be advised when the lender assesses the application. ## Credit Scores and History Credit scores are critical when applying for any type of finance. Lenders will review credit histories, and some will have minimum scores for application approval. Better credit scores are seen as lower risk and, in general terms, get offered lower interest rates, higher lending limits, and better terms. Making multiple applications for the same loan to different lenders can damage credit score. These applications are reported and appear on the credit history and can be seen in a negative light by lenders. Avoid this by taking steps to improve credit score prior to application and by using our services to connect you with the most suitable lender. Tips: - Check credit score before applying and cleaning up any issues or errors on credit history. See info at [Moneysmart](https://www.moneysmart.gov.au) for details. - Improve personal balance sheet by finalising other loans and debts to improve overall credit position which may contribute to a better car loan offer. ## Documentation Needed to Apply for a Car Loan A range of documents and details will be required to complete the application form. Preparing these in advance may speed up the process and ensure faster approval and faster purchase. Documents and details required include: - ID with Australian documents such as driver licence, passport, Medicare card, birth certificate and photo. - Details of liabilities – loans, credit cards, buy-now-pay-later amounts owing. - Income proof – payslips and documents showing other income sources such as shares and investment properties and allowances from Government sources. Tax returns may be requested. - Details of expenses incurred on a monthly or regular basis including rent, insurance, utilities etc. - Bank statements which will verify outgoings and income. - Details of assets. And finally, details of the vehicle being purchased will be required. ## Collateral and Deposit Required to Apply for Car Loan Important aspects of motor vehicle finance can be the collateral and deposit required. Most new car buyers will suit a [Secured Car Loan](/secured-car-loans) which uses the vehicle as the main collateral for the loan. Lenders will assess the application to decide if buyers need to offer additional assets as security. The amount of deposit needed will depend on the credit limit – if the lender approves the loan amount requested in relation to income and the value of the vehicle. We assist by handling these lender discussions. ## Expert Assistance to Apply for a Car Loan There are a lot of details to consider when applying for car finance. Jade Car Loans experts assist buyers to apply for a car loan by handling the process on their behalf, sourcing the right lender and best interest rates. Using a broker can be extremely beneficial in quickly connecting with the lender that matches the credit profile and application specifics without impacting the individual’s credit score. Ensuring the best interest rates, best offer, and potentially faster approval and higher lending limits. All with an expert covering off on the details and handling negotiations with lenders on terms, rates and any loan conditions. All types of buyers of all types of vehicles can use our expert services without a referral required. Our services are fast. Using our experts to get the best car loan will not slow down the buying process. Many applications are approved in 24 hours and with the best interest rates available. Applications can be submitted via our online systems or over the phone with one of our experts. **Contact Jade Car Loans 1300 000 003 to apply for a car loan and allow our experts to assist you with securing the best finance deal.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Undecided about SUV, Ute or Dual Cab? New or Used? Quick Guide to Compare Car Loans](https://www.jadecarloans.com.au/blog/undecided-about-suv-ute-or-dual-cab-new-or-used-quick-guide-to-compare-car-loans) **Published:** July 22, 2024 **Author:** Publisher **Excerpt:** Jade Car Loans assists buyers make purchase decisions based on finance with tools, resources and a quick guide to compare car loans. **Content:** Australian buyers can be spoilt for choice when it comes to buying new cars. The motor vehicle market is extensive with vehicles available in a wide range of types, prices and styles. Buying decisions can be practical and based on functionality and price, or emotional and based on style and appearance. But where the purchase is based primarily on affordability, the decision may be influenced significantly by the finance. To compare car loans, buyers need to delve into the details as differences can be found with different lenders, different loan products, interest rates, new and used car loans, and vehicle finance for private and business use. These details can come into consideration for buyers who are undecided between say a ute, dual cab, SUV or large 4WD. All may cover off on many buyer requirements. Dual cabs can suit many SUV buyers, with functionality for family, recreational and work usage. Where tools, supplies and heavy gear need to be transported for work or play, then a ute may be the better choice. Jade Car Loans assists buyers make purchase decisions based on finance with tools, resources and a quick guide to compare car loans. ## **Tools and Resources to Quickly Compare Car Loans** An important tool buyers need to compare car loans is our [Car Loan Calculator](/car-finance-calculator). This is available online, is free to use, and can be used to compare many aspects of vehicle finance. Buyers simply enter the specifics of their loan, and the calculator displays the estimate monthly repayment based on those figures. Familiarising yourself with the calculator functions can assist as we work through this quick guide to comparing car loans. While the calculator is a great place to start comparing car loans, having an experienced motor vehicle finance expert make those comparisons for you, and find you the cheapest car loan, can be a faster, easier and more accurate way to secure the best vehicle financing for your vehicle and for you. All buyers – private and business, can use the resources of our broker service to secure the financing that is right for them. Connecting with one of our brokers can be made online or by phone. With these tools and resources in your buying kit, we now look at the specifics of comparing vehicle financing. ## **Compare Car Loans for Business & Private Use** Before using a calculator or applying for a car loan, buyers should know the type of finance they required. Different lending products are applicable for private and business use buyers. Private buyers of new vehicles and quality second-hand cars will typically suit our [Secured Car Loan](/personal-car-finance). Business buyers have the choice of [Leasing](/car-lease), Chattel Mortgage and Hire Purchase. Interest rates vary for different financing products. Buyers should know the product required to enter the applicable rate when using the calculator. ## **Compare Car Loans on Different Vehicles** Essentially, all types of vehicles – SUVs, utes, dual cabs, sedans, with all types of power units – electric, hybrid, diesel, petrol, are financed in the same way. The differences in the loan offer will be determined by the credit profile and financial position of the buyer, and of course, the price of the vehicle. The price and how much is required for the loan will of course affect the repayments but can also affect the credit limit approved by the lender based on the buyer’s profile. A loan for a top of the range dual cab such as the [Ford Raptor](https://www.ford.com.au) with a higher price tag than single cab basic [Toyota HiLux](https://www.toyota.com.au) ute, would result in higher monthly repayments. Buyers can use the calculator to compare loan estimates using the vehicle purchase price as the loan amount required, or the price less the estimated trade-in value or deposit. Differences in loan terms, interest rates, limits and other aspects can vary for new and used vehicles. Lenders will assess the condition of the vehicle as well as value compared with price and loan requested, when preparing offers. Requesting a quote can be the quickest and easiest way to get an accurate used car loan offer to assist with buying decisions. ## **Comparing Car Finance Lenders and Interest Rates** When comparing car loans based purely on the rates displayed by lenders, buyers should be aware of differences in car finance interest rates across the lending market, in the credit amounts offered by lenders, and in some of the terms and conditions offered by lenders. These differences can be based on individual lender guidelines and/or the credit profile of the buyer. Some aspects of the vehicle may also impact lender offers. Check if the interest rate is fixed or variable and that the maximum and minimum loan limits meet their preferences. Be aware that the rate you are offered may be different, the loan amount you are approved for may not be what you are hoping for, and that your individual profile and application may not be the best match with a particular lender. To make it extremely easy for buyers to compare car loans on all types of vehicles, we connect buyers with the right lender from our vast 80+ lender base, to ensure the most suitable finance offer is quickly secured. **If looking to compare car loans on different vehicles to make buying decisions, contact Jade Car Loans 1300 000 003 and allow our experts to find you the most suitable deal.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Tips on how to use tax cuts to optimise car loans](https://www.jadecarloans.com.au/blog/tips-on-how-to-use-tax-cuts-to-optimise-car-loans) **Published:** July 8, 2024 **Author:** Publisher **Excerpt:** For those with an existing car loan and those planning to buy a car with finance, Jade Car Loans shares tips on using tax cuts to optimise car loans. **Content:** Millions of Australians will now have more take home pay with the Stage 3 tax cuts coming into effect this financial year. Personal income tax rates have changed for a wide range of income levels, resulting in less tax payable and a larger amount of after-tax income for many wage earners. How do you plan to use your increased income? For those with an existing car loan and those planning to buy a car with finance, Jade Car Loans shares tips on using tax cuts to optimise car loans. ## Buying a Better Car with Tax Cuts – New v Used With more available income, many buyers may be in a position to buy a better car, as in a higher priced model, new rather than second-hand, or a better second-hand model. Where financing is required, to assist with the decision around new v used, buyers can be advised to consider the differences between new and second-hand [car loans](https://www.jadecarloans.com.au/personal-car-finance). New vehicle buyers will generally be approved for a Secured Car Loan. This type of loan allows for the car to be used as collateral for the finance and attracts the best interest rates. With used vehicles, lenders assess the age and condition, value and purchase price of the car as part of the application assessment process. Many quality, second-hand cars can be purchased with secured finance. But where the car is not accepted by lenders as suitable collateral, an Unsecured Personal Loan may be required. These types of loans have higher interest rates than secured format loans. With new versus used car loans, there can also be differences in loan amounts approved which can affect the deposit required, and in the interest rate offered. Being in a position to purchase a new model compared with a second-hand car with finance may result in a better interest rate, lower repayments and less servicing and maintenance costs over the ownership period. If looking at that higher priced model or new v used, buyers can use our calculator to work out repayment estimates on multiple models. ## Putting Tax Cuts Towards Existing Car Loans Car owners with an existing loan may benefit from paying down their current loan with their extra income. Making extra payments in addition to the scheduled repayments is allowed with most loan types. Loan holders can simply deposit a little extra each week into their car loan account. By making extra payments, the loan will be paid off before the scheduled end of the loan term. This is referred to as paying off a loan early. When this occurs, lenders do charge an early payout fee, but it is considered minimal. The benefit can be in less interest being accrued and payable in total. Finalising an existing car loan may also deliver a benefit in improving the personal balance sheet and if planning to trade-in the vehicle on a new model, having less to pay on the existing loan from any trade-in. ## Improving Credit Score and Balance Sheet with Tax Cuts If planning to buy a car with finance in the near future, benefits can be realised by using any extra income from tax cuts to pay off loans and credit card balances. These benefits can be with the loan amount approved and interest rate offered when applying for the new car loan. Paying down financial commitments improves the personal balance sheet. A personal balance sheet is essentially what you owe compared with what you own. Lenders look at this position when assessing loan applications. The position of the balance can affect the loan amount approved. This in turn can affect the vehicle being purchased and deposit required. Having a better balance sheet can also improve credit scores. Having less debt can mean a better credit score. This can contribute to being offered a lower interest rate when applying for a car loan. Individuals can source information and guidance on reviewing and improving their credit score at [Moneysmart](https://www.moneysmart.gov.au). ## Saving for a Deposit with Tax Cuts Another way to optimise a car loan with tax cuts is to spend some time saving a larger deposit. This may benefit any car loan application in a number of ways. With a larger savings balance, lenders may make a better interest rate offer and/or approve a higher loan limit. Having a larger downpayment reduces the amount required for the car loan. A lower amount borrowed can mean lower monthly repayments and less interest payable over the loan term. ## Tools and Services to Plan Car Purchase and Finance There are many decisions to be made when purchasing a car with finance. Using our services and our buying tools can assist car buyers with those decisions and obtain the most affordable car loan. When using our broker services, we can provide loan quotes for different vehicles without impacting the credit score as happens when multiple quotes are requested from multiple lenders by borrowers. Buyers can also use our [Car Finance Calculator](https://www.jadecarloans.com.au/car-finance-calculator) to work up their own loan estimates on different vehicles and with different loan amounts. When using a finance calculator before applying for a loan, be mindful that interest rates can change over time. Lenders typically change their rates in line with rate decisions by the [Reserve Bank](http://www.rba.gov.au). The interest rates used to calculate estimates at this time, may be different to the interest rate market when the application is made, and may be different to the rate you are offered. For more tips and information on personal car loans, stay across our blogs and updates. **If considering applying for car finance with your tax cuts, speak with** **Jade Car Loans 1300 000 003 for quotes on the best interest rate loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Optimise deductions, minimise repayments with tax time Light Commercial Van Finance](https://www.jadecarloans.com.au/blog/optimise-deductions-minimise-repayments-with-tax-time-light-commercial-van-finance) **Published:** June 24, 2024 **Author:** Publisher **Excerpt:** As specialists in commercial vehicle financing, Jade Car Loans source van finance with the best rates to assist operators optimise deductions and minimise costs. **Content:** The start of a new financial year is a popular time for operators to upgrade their light commercial vans. These vehicles can be some of the busiest and hardest working on the roads, requiring more regular upgrading than many other models. But in order to be a cost-effective, workable and affordable acquisition, the light commercial van finance will need to be right. That can mean, minimising monthly repayments and optimising tax deductions. The choice of loan and the choice of lender can be as equally important as the type of vehicle when it comes to achieving the right outcomes for the business. These choices can determine the interest rate on the loan and the monthly outgoings, which can impact cash flow and profit. As specialists in commercial vehicle financing, Jade Car Loans source van finance with the best rates to assist operators optimise deductions and minimise costs. Supporting couriers, delivery businesses, tradies, removalists, growers and producers and others, to acquire the right vehicle loans for their business operation. ## Selecting the Right Van Finance Facility Whether buying one of the popular Peugeot, Ford Transit, [Toyota HiAce](https://www.toyota.com.au/hiace), Hyundai, VW, LDV or [Mercedes-Benz](https://www.mercedes-benz.com.au/vans.html?group=all&subgroup=see-all&view=CLASS) models, you want the financing to work as hard as the vehicle. The same credit facilities – [Chattel Mortgage](https://www.jadecarloans.com.au/car-chattel-mortgage), [Leasing](https://www.jadecarloans.com.au/car-lease "Leasing"), and Hire Purchase, are available to fund all light commercial vans. The decision as to which is the right facility, depends on accounting-related aspects of the individual business structure and financial objectives of the operator. Does your accountant use the cash or accruals method of accounting to prepare your annual accounts? Chattel Mortgage and Hire Purchase suit the cash method and Leasing suits the accruals method. Do you want the vehicle to be posted to the balance sheet as an asset/liability? This relates to the ownership of the vehicle while the loan is being repaid. Chattel Mortgage allows the ownership to be transferred to the operator on settlement. While with Lease, ownership remains with the lender until the commitment is finalised. Your Jade broker can explain these differences in more detail, but we do recommend referring to the accountant for clarification as to the best option for an individual operator. ## Van Finance Tax Deductions Tax deductions are an important consideration for businesses as they lower taxable income and tax payable. Effectively reducing business costs and the overall cost of the vehicle. Leasing offers deductible monthly payments, while Hire Purchase and Chattel Mortgage allow for deductions through depreciation of the vehicle and deductible interest payments. GST applies to Lease monthly payments. With Chattel Mortgage and Hire Purchase, the entire amount of GST on the purchase price is claimed on the next BAS after settlement – no further GST applies to these credit facilities. No GST is charged on the interest component of commercial credit facilities. ## Getting Workable Van Finance Repayments Securing the lowest commercial vehicle financing interest rates is key to lowering the entire financing cost, the individual monthly payments, and as such, the acquisition cost of the vehicle. Rates vary across the commercial lending market, on different credit facilities, and for different operators. Lenders assess applications, especially credit histories, when making interest rate offers. Using our expert broker services allows operators to access a large number of lenders – banks and finance companies, to secure the lowest rates to suit their profile. We do the hard work, so there’s no need to worry about how long it will take you to cover off on all our 80+ lenders. We actually find you the right lender and the best rates. Chattel Mortgage and Hire Purchase offer the lowest commercial vehicle rates, and Leasing a slightly higher rate. Operators should assess all the features and benefits of individual credit facilities not only the rate, when deciding on the most suitable solution for the vehicle loan. ## Comparing Light Commercial Van Finance There can be some great deals on commercial vehicles available around tax time with dealers clearing stock at the traditional EOFY sales. But where the buying decision depends on how much the vehicle will cost in monthly payments, just comparing purchase prices may not provide the information needed for an informed decision. To easily compare loans on commercial vans, operators can use our financing calculator for estimates. This tool can be used for all the different van models and all the credit facility options. It provides quick estimates to automatically turn purchase prices into monthly repayment estimates. Compare Lease with a Chattel Mortgage option, compare a Sprinter with a HiAce. Change the terms and balloons until the payment estimate is in the preferred affordability range to establish how you would like your financing structured. **If a new vehicle is on your agenda for the new financial year, speak with** **Jade Car Loans 1300 000 003 for affordable light commercial van finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** My Business --- ### [Car Licensing: Your Guide to Driving in Australia](https://www.jadecarloans.com.au/blog/car-licensing-your-guide-to-driving-in-australia) **Published:** June 17, 2024 **Author:** Publisher **Content:** ## Accelerate to freedom One of the biggest keys to individual freedom in Australia, is owning a driver’s licence. It’s the best way to say goodbye to the days of relying on your friends and family, spending way too much money on rideshare services and brushing shoulders with strangers on public transport. It’s clear securing a driver’s licence is invaluable. However, individual freedom is just one of the many benefits, with a C class licence also being the gateway to securing other licences for future work purposes that may require upgraded vehicle qualifications. With that said, there are a number of important steps to take before you can own a C class licence. The requirements for obtaining a C class licence in Australia differ between states. To know exactly what you need to do in your state, keep reading. ## New South Wales (NSW) Across Australia, a C class licence is the most common. It enables you to drive not only yourself, but also vehicles that seat up to 12 adults including vans, utes, and some light trucks. There are a number of requirements you must meet to be eligible for a C class licence, as well as a number of tests you must pass. For the full list of requirements in NSW, read [Getting a NSW Driver Licence](https://www.service.nsw.gov.au/guide/getting-a-nsw-driver-licence). ## Queensland (QLD) In Queensland, once you are 16 years old you can apply for your learner licence. This licence, which is the first tier, allows you to drive a car under the supervision of someone who has a current open licence and has held that licence for at least one year. To learn more about starting your QLD car licensing journey, head to [Applying for a Licence](https://www.qld.gov.au/transport/licensing/driver-licensing/applying). ## Victoria (VIC) If you’re at least 16 years old and eager to hit the roads in Victoria, you will need to apply for a learner permit, complete a Learner Permit Test online or in-person, and log supervised driving hours. When you think you’re ready to progress to your Provisional licence, it’s time to book a Hazard Perception Test and Driving Test. If you pass these important tests, you are well and truly on your way to freedom. It’s important to note a fee applies each time you take the Driving Test, so ensure you are prepared. Know everything you need to know about C class licensing in Victoria online at [Your Ls](https://www.vicroads.vic.gov.au/licences/your-ls). ## Western Australia (WA) While supervised driving hours in some other Australian states exceed more than 100 hours, in Western Australia this requirement is much less with only 50 supervised driving hours necessary prior to taking your first driving test. And, if you are 25 years or older you are exempt from this condition. For legal reasons, ensuring that you display the appropriate plates on your car for the tier level you are driving at (L, red P, or green P) is extremely important. For all the information on getting your C class licence in WA visit [Get a Licence to Drive a Car](https://www.transport.wa.gov.au/licensing/get-a-licence-to-drive-a-car.asp). ## South Australia (SA) South Australia’s process to a C class licence is just as simple as the other states. If you’re between 17 and 24 years old, you must have held a learner’s permit for at least 12 months and completed 75 hours of supervised driving before you can take your driving test and potentially progress to a provisional licence. If you are 25 years old or older, the time period for holding a learner’s permit is reduced to just 6 months. To start the necessary stages to qualify for a full licence in SA, read the [Steps to getting a Driver’s Licence](https://www.sa.gov.au/topics/driving-and-transport/licences/steps)**.** ## Australian Capital Territory (ACT) To become a safe and confident driver in the ACT, you can begin to hone your driving skills by first completing a pre-learner licence course. After completing this test you can apply for a learner licence, and start practicing under the supervision of a current open-licence owner. For all the information on each step you need to take to start driving, visit [Get Your Learner Driver Licence](https://www.accesscanberra.act.gov.au/driving-transport-and-parking/licences/get-your-learner-driver-licence)**.** ## Tasmania (TAS) Like the other Australian states, getting your Tasmania driving licence starts before securing your learner licence. Only after completing learner licence tests will you be able to start driving under the supervision of someone who holds a full licence. For this phase, like other states, you will need to have your learner licence in Tasmania for a minimum of 12 months. Check the eligibility criteria for securing your learner licence at [Getting Your Car Licence](https://www.transport.tas.gov.au/licensing/getting_your_car_licence). ## Northern Territory (NT) Regardless of whether you are on your Ls, red Ps, or green Ps, you must have the relevant plates visible on your car each time you drive. Only when you progress to a full licence will you be able to legally drive without plates fixed to your car. To start driving, follow the step-by-step guide at [Get Your Driver Licence](https://nt.gov.au/driving/licence/getting-an-nt-licence/get-your-driver-licence). ## Looking to Finance your car? Get cheap car finance rates with JADE Car Loans. If you want to feel confident in your decision to finance your car, the only business that should come to mind is Jade Car Loans. An enviable reputation in the motor vehicle finance sector, [cheap interest rates](https://www.jadecarloans.com.au/car-finance-interest-rates), and a service tailored to your needs are just a few of the benefits you will receive through our personal and professional finance brokers. We have a large source of options available to ensure you are getting the right loan for you and your car. If respect and attention to detail is the kind of service you want, [**Request a Quote**](https://www.jadecarloans.com.au/approval) with Jade Car Loans. **Categories:** Uncategorised --- ### [How to buy top selling cars with affordable motor vehicle finance](https://www.jadecarloans.com.au/blog/how-to-buy-top-selling-cars-with-affordable-motor-vehicle-finance) **Published:** June 10, 2024 **Author:** Publisher **Content:** Despite challenging economic conditions, record numbers of buyers have been out in force, purchasing new motor vehicles, according to the latest top selling cars data. The Federal Chamber of Automotive Industries (FCAI) reported an all-time record of sales of new vehicles for May, with increases across all categories, including significant rises in sales of hybrids and plug-in hybrids. Buying a new car in the current economic conditions may seem like a crazy idea to many. Some may be wondering how these buyers are managing to buy a new vehicle. Acquiring a brand-new vehicle with better fuel efficiency and manufacturer warranty, may represent a saving over time, when compared with the ongoing repair and maintenance costs to keep an older vehicle on the road. When buying a new vehicle with fixed interest rate finance and fixed monthly payments, buyers know their regular expenses in advance, and can budget for them. A scenario which may compare favourably with the prospect of having to find significant cash amounts to pay for unexpected car repairs on older vehicles, sometimes without warning. For those with one eye on the new car market and the other on their budget, the decision to buy a new car may rely on securing an affordable car loan. While interest rates are top of mind for those considering taking on finance, putting off the purchase of a new vehicle to see what happens with rates, may mean facing higher vehicle purchase prices in a few months. With tailored solutions at competitive rates, Jade Car Loans provides affordable vehicle loans for private and business buyers of top selling cars. To assist buyers to get their purchase plan under way, we cover off on the latest best sellers as inspiration and provide details on how to quickly and easily secure the required finance, at the best rates. ## FCAI Reports New Vehicle Sales Records Buyers can look to the latest trends in vehicle sales to assist with the decision as to which types of vehicles are currently most popular. The [FCAI](http://www.fcai.com.au/ "FCAI") released the top selling cars data for the month of May in early June, noting the continuation of the record-breaking sales figures for the industry. If considering an EV, buyers may note that the FCAI reports that hybrids and plug-in hybrids now have 15.8% of sales, up from 7.9% in the year prior. Battery EV sales are also up from 7.7% in May 2023 to 8.1% of new vehicle sales in May 2024. While the sales of EVs and hybrids is growing, it is the diesel [Ford Ranger](http://www.ford.com.au/ "Ford Ranger") that took out the top selling vehicle for the month. Toyota remained on top for the top selling brand. Passenger cars appear to be have a resurgence after showing a downturn as buyers appeared to favour SUVs. Passenger vehicle sales are up 17.3% for May 2024 compared with May 2023 while SUVs are only up 1.2% on the same monthly comparison. ## Buying Ideas – Review the Latest Top Selling Cars Reviewing the top selling brands and models can provide direction and inspiration for buyers. Toyota holds a strong lead in the year to date sales for brands. Ford is second, followed by Mazda, Kia, Mitsubishi, Hyundai, Isuzu Ute, Nissan, MG and Tesla. For May, the list of 10 best-selling models is headed up with the Ford Ranger which just edged out the Toyota HiLux, with Toyota’s RAV4 in third place. Then came the Isuzu D-MAX, Mitsubishi Outlander, Toyota Camry and Corolla, Ford’s Everest, Mazda’s CX-5 and finally the Model 3 by Tesla. Buyers looking to compare financing on different models with different price tags can use our [Motor Vehicle Finance Calculator](https://www.jadecarloans.com.au/car-finance-calculator) for estimates or contact us for quick quotes. **Getting Affordable Loans for Top Selling Cars** Whether a personal or business vehicle, the purchase of a new car has to be affordable with the lowest possible interest rates, and with terms that deliver workable repayments. Rates vary across the lending market and finding the best rates by requesting multiple quotes can be time-consuming and affect the buyer’s credit rating. Credit scores are critical to being offered the best rates, but so is applying to the right lenders. Both private and business vehicle buyers can use our broker services to source financing for all types of vehicles. We provide the full selection of Personal Car Loans and [Business Vehicle Finance products](https://www.jadecarloans.com.au/overview-of-business-car-finance "Business Vehicle Finance products"). New vehicles can generally be used as the sole security for the loan for most buyers, with no additional collateral required. Another advantage of upgrading to a new vehicle. We have over 80+ lenders and skilled brokers to handle the entire process of finding customers the best rates, most suitable terms, and the most workable repayments. Ensuring buyers have access to the lender that is currently offering the lowest rates to applicants matching their credit profile. All without impacting their credit score. If you’re in the market for a top selling vehicle, simply connect with us online or over the phone for a **Get affordable motor vehicle finance on top selling cars through Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Want the lowest rate car loan? Don’t ignore your credit score.](https://www.jadecarloans.com.au/blog/want-the-lowest-rate-car-loan-dont-ignore-your-credit-score) **Published:** February 6, 2024 **Author:** Publisher **Content:** When approaching buying a new vehicle with finance, with the lowest rates of course, many buyers can have their priorities mixed up. Many will spend the bulk of their time reviewing rates from banks and finance companies, requesting quotes and submitting applications for offers to consider while ignoring a major factor that will get them the best rates – a good credit score or rating. The rating forms part of an individual or business’ overall profile which also includes payment histories. When an individual has a lending arrangement or pays bills from providers, those providers report slow and non-payment to Reporting Agencies who compile the rating. Reports are made by a wide range of companies, not just lenders. Telcos, power providers, credit card companies and government bodies which collect payments. These reports, history and rating are available to lenders when a new application for lending or a new provider payment schedule is made. Essentially providing lenders with a snapshot of that individual’s history with meeting financial applications. Lenders assess the history and rating when assessing applications and offers reflect their assessments. Paying close attention to the profile and history can be an important step in being offered a great rate on a new car loan. ## Importance of Credit Score when Applying for Car Finance An individual’s score, history and rating are extremely important when seeking car finance. Lenders review this information and assess the risk factor of that individual. A poor rating and slow paying history can be viewed as a high risk application. Lenders consider that the individual is at higher risk of defaulting on the car payments than an individual with good history and high rating. The lender’s assessment is integral to the interest rate they will offer to that individual for their car loan. As a rule of thumb – the lower the rating the higher the rate. The higher the rating the lower rate. This is highlighted in many lender advertisements and displays of their best interest rates which are noted as being ‘for good rating applicants’, or similar wording. But it’s not only the interest rate that can be impacted by an individual’s poor history and rating. Based on rating and history, lenders may set a credit limit for the funding. This can affect which vehicles may be purchased and if the buyer will need to make a down payment or be approved for no deposit car finance. the term of the loan may also be impacted and this can affect the monthly repayment. Any additional collateral required can also be impacted by a poor history. A good rating is extremely important when applying for vehicle funding as is, connecting with the lender that suits that rating level. Lender approval criteria vary across the market. We know the criteria of our many lenders and match the applicant with the lender best suited to make the best motor vehicle lending offer. ## Multiple Applications Impact Credit Score In their efforts to find the best car loan with multiple applications and quote requests, many buyers are not aware that they are potentially damaging that all-important rating. Ratings and scores can be impacted with multiple applications for the same loan. Lenders report these interactions with the Reporting Agencies, they appear in the history, and may be seen as desperate efforts by the applicant. This can easily be avoided by using our broker services. ## Maintaining and Improving Credit Score In times of high costs of living when some are feeling pressure on their budget, paying bills on time and ensuring there are sufficient funds in bank accounts for scheduled repayments can be challenging. While it is challenging, it should, wherever possible, be prioritised. A good payment history enhances the rating and a poor history can downgrade the rating. To maintain a good rating to contribute to a good rate for your upcoming vehicle finance, stay on top of those payments. To check your current rating and for ways to improve a poor credit score, refer to information readily available at [Moneysmart](http://www.moneysmart.gov.au "Moneysmart"). Information is posted on how individuals can get a free copy of the report. ## Securing Competitive Rate Car Loan for Range of Credit Score Buyers Using a broker can be an important decision to ensure the most [competitive car finance rates](https://www.jadecarloans.com.au/car-finance-interest-rates "Access information on our appealing car loan rate options") are achieved. Our efforts in covering off on 80+ lenders does not affect an individual or business rating. **As specialist motor vehicle finance brokers, Jade Car Loans assists buyers with a diverse range of credit score profiles to secure workable affordable finance**. We focus on securing the right lenders that match the profile and negotiating the best rates. Those with a poor rating and poor history can discuss their circumstances with one of our brokers and request we explore the options for [poor credit vehicle finance](https://www.jadecarloans.com.au/car-finance-bad-credit "View our vehicle finance details for those with sub-optimal credit"). If you’re planning to apply for a [Secured Car Loan](https://www.jadecarloans.com.au/secured-car-loans "Access information on our secured auto loan programs") or business vehicle financing, don’t ignore your score! **Contact Jade Car Loans 1300 000 003 for a car loan quote for all types of credit score profiles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Personal Low Rate Tesla Finance on Top Selling Y Model](https://www.jadecarloans.com.au/blog/personal-low-rate-tesla-finance-on-top-selling-y-model) **Published:** January 23, 2024 **Author:** Publisher **Content:** The move to EVs and the buying trend away from passenger models to SUVs was clearly evident in 2023’s top selling vehicles. No passenger types appeared in the leading 10 sellers for the first time. What further underscored these trends was when private buyer sales are isolated from those to businesses, the Tesla Model Y was the top selling vehicle. But with a price tag of $70,000+, buyers will be looking for the lowest rate loan to park a Model Y in their garage. **Jade Car Loans source and arrange low rates on Tesla finance for the very popular Tesla Model Y and other EV and hybrid models, for business and private buyers**. With costs of living still high, keeping the funding as low as possible on your new Model Y will be a priority. Interest rates are key to the cost of financing new motor vehicles and those seeking a loan will find variations across the motor vehicle lending market. By using our broker services, buyers get access to the lowest rates available from our 80+ lender base. ## Tesla Y Tops Private Buyer Sales 2023 Sales of motor vehicles to businesses and other corporates is a large section of the overall market though private sales are still greater. With the preference of workhorses by business buyers, Ford’s Ranger and Toyota’s HiLux topped the sales for 2023 for all buyers. But the Model Y topped the private buyers only list with the Ranger coming in 4th and HiLux sneaking into the top 10 at 8th. This was seen as an impressive result as the Y is electric and an SUV. The Model Y relegated the 2022 top seller, Mazda’s CX5, to 5th. A perennial darling of private buyer small car sales the Toyota Corolla, could only manage 20th. Highlighting the strong trend towards SUVs over passenger models. For private buyers seeking inspiration for their new vehicle purchase, the first 20 of top sellers to private buyers in 2023 are:- [Tesla Model Y](https://www.tesla.com/en_au/modely "Explore the Tesla Model Y - Tesla's Electric Crossover SUV"), followed by the MG ZS, the Rav 4 from Toyota, Ford’s Ranger, Mazda’s CX5, the Hyundai i30 then Tucson, the Toyota HiLux, another Tesla the Model 3, the CX3 from Mazda, Isuzu’s D-Max, Mitsubishi Outlander, MG3, BYD Atto 3, Toyota Prado, Subaru Forester, Maxda CX-30, Kia Sportage and Seltos and at number 20, the [Toyota Corolla](http://www.toyota.com.au "Discover the Toyota Corolla: A Compact Car Icon"). ## Tesla Model Y Details If you haven’t considered a Tesla to date, then now could be the right time to check out the features that have made the Model Y so popular with so many buyers. Its an electric 5 seater family SUV with AWD to tackle many road conditions. The generous cargo area has a capacity of 2100 litres to take a lot of what a family needs to take when they head off. The back seats fold flat to allow space for more cargo or larger items. For those with range nerves, the Model Y is quoted as having a 533 klm range. With more and more EV charging points being installed, this range should suit the general running around and travel plans of many owners. The Model Y is fitted with many advanced, active safety features as standard such as the Active Emergency Braking, Lane Departure and Forward Collision Warning. And of course, the Y has great tech! For boat and caravan owners – this model is quoted with 1600 kgs towing capabilities. Sound interesting? Why not speak with us first about the financing offer we can source to make this purchase a reality. ## Tesla Finance for Private Buyers A [personal Secured Car Loan](https://www.jadecarloans.com.au/personal-car-finance "Explore Personal Car Finance Options with Jade Car Loans") will be the financing option best suited to most buyers purchasing a new Model Y for their own personal use as opposed to using the vehicle in the operation of a business. Our low rates for this type of credit can make a purchase of this luxury brand an affordable option for many buyers. Reducing monthly repayments to a level that works with the individual or family budget. We individually source each offer to ensure the right lender, from our panel of more than 80, is matched with each of our customers. This ensures our customers receive not only the best interest rate for their profile, but a funding arrangement that has been structured to meet their individual requirements. ## Tesla Finance for Salary Sacrificing Exemptions to [fringe benefits tax](https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/fringe-benefits-tax/types-of-fringe-benefits/fbt-on-cars-other-vehicles-parking-and-tolls/electric-cars-exemption "Learn About the Fringe Benefits Tax (FBT) Exemption for Electric Cars in Australia") for electric vehicles, under certain conditions, are available for salary sacrificing purchases. This exemption may make the purchase of a Model Y an attractive to option for employees seeking this arrangement with their employer. Your Jade broker can provide additional information and details and assist in sourcing the best rates and arrangements for [Novated Car Leasing with Salary Sacrificing](https://www.jadecarloans.com.au/novated-car-leasing-and-salary-sacrificing "Unlock the Benefits of Novated Car Leasing and Salary Sacrificing with Jade Car Loans"). Using a broker to source personal financing for a new Model Y can offer many benefits to buyers. Speak with us about how we can assist you. **Contact Jade Car Loans 1300 000 003 for low rate Tesla finance for private buyers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Interest Rates 2024: Changes, forecasts, impacts for motor vehicle finance](https://www.jadecarloans.com.au/blog/interest-rates-2024-changes-forecasts-impacts-for-motor-vehicle-finance) **Published:** February 6, 2024 **Author:** Publisher **Content:** With inflation falling again to the end of December 2023 and with Reserve Bank of Australia commencing its regular monetary policy review meetings in February, the focus is once again on interest rates. But in 2024, a number of changes come into effect in regard to the Reserve Bank of Australia (RBA) monetary policy (cash rate) decisions. The timing of announcements and other aspects of the process are changing as a result of the 2023 Review into the Reserve Bank. The timing of commencement of these changes is also notable for the changes in economic indicators including the recent inflation figures as reported by the [Australian Bureau of Statistics (ABS)](http://www.abs.gov.au "Australian Bureau of Statistics (ABS)"). Understanding how inflation and RBA rates decisions affect car loan rates can be beneficial to buyers looking to take advantage of increased supply in the auto sector. **Jade Car Loans outlines the changes in interest rates announcements for 2024, market forecasts and possible impacts for those seeking motor vehicle finance**. ## Changes to RBA Interest Rate Decisions The first Tuesday of the month has been a diary date obsession for many Australians with variable rate loans and those considering taking on finance. It was the day that the RBA announced any changes to the cash rate. Changes that essentially determine changes in rates for a range of lending products. But one of the big changes coming into effect from February is the change of timing to the RBA decisions and the process by which the decision is made. The decisions will now be made at 6 week intervals and over 2 days of discussions with officials. In another major change, in addition to media release announcing the decision, a press conference will be held by the RBA Governor. At the press conference, Governor Michelle Bullock will provide an explanation of the thinking behind the decision and provided the latest RBA economic forecasts. This is another major change as these insights were often not available until the release of the Board meeting minutes some 2 weeks after the meeting. The Review also recommended that a separate committee be established, apart from the Board, to make monetary policy decisions. This is scheduled to be finalised later in the year. ## Understanding Inflation and Costs of Living, Vehicle Pricing While the timing and process of interest rates decisions is changing, the key factors in determining the cash rate decisions will continue to be driven by inflation, unemployment, global factors and the general state of the economy. The ABS is tasked with compiling and announcing these statistics. It recently announced the quarterly inflation to the end of 2023. Announcing the annual rate was down to 4.1%. But those who are expecting costs of living to go down to ease their budget to possibly allow for new vehicle payments, need to understand inflation. Inflation is a measure of how much prices on a range of goods and services categories rose in a certain period. These are reported monthly and quarterly with the annual rate the figure referred to. To the end of Dec 2023, inflation rate fell from 4.35% to 4.1%. That means suppliers increased prices to a lesser extent in that reporting period than in the previous. It does not indicate prices of goods and services dropped. The ABS report how much prices in certain categories rose by or possibly fell in that period. So when will prices drop to ease costs of living? That is dependent on when suppliers deem it suitable or affordable to reduce their prices. The basic economics theory is when demand drops, supply is more available and sellers may cut prices to attract customers. But manufacturers have a lot of factors to contend with in their own pricing models including prices of their globally-sourced materials and supplies, shipping and their own high current costs. Motor vehicle sales have been exceptionally strong with record results reported by the [Federal Chamber of Automotive Industries (FCAI)](http://www.fcai.com.au "Federal Chamber of Automotive Industries (FCAI)"). These great results despite many new models showing price jumps on previous models. Most vehicles on the Australian market are imported with pricing reflecting components, manufacturing costs in the source and supplier countries and shipping costs. If demand does start to lull, dealers may be more inclined to offer better deals on new vehicles or be more prepared to negotiate on trade-ins. Buyers keen to secure their vehicle can look to securing cheaper financing to offset the price tag and ensure repayments fit their budget. ## Markets Interest Rate Commentary With inflation falling, the expectation of rate cuts this year are becoming more realistic. Some analysts have placed the chances of this happening in May as 50:50. In general, it is expected that rates will be cut by the RBA several times this year. But with the RBA’s target for inflation has been 2-3%, the current 4.1% still has a long way to go to reach that. But there are some analysts that expect a faster inflation fall in the near future. More insights will be available after the RBA’s February meeting. ## Impacts of Interest Rates on Motor Vehicle Finance Lenders set their own pricing in lending sectors including motor vehicle finance. The cash rate and the RBA decisions do have an impact, but lenders make their own decisions. With most vehicle financing arranged with a fixed rate, some prospective buyers may be wondering if they should opt for a variable rate lending product. [Unsecured Personal Car Loan](https://www.jadecarloans.com.au/unsecured-personal-loans "Compare commercial car loan rates") can be used to fund motor vehicles with a variable rate. But variable rates on unsecured lending are always higher than fixed rate Secured Loans. [Compare commercial car loan rates](https://www.jadecarloans.com.au/car-finance-interest-rates "Access our commercial auto loan rate comparison tool") with our resources. If rates are cut over the term, repayments could go down on variable rate loans but remain the same with fixed rate loans. But any savings based on that expectation should be weighed up against the difference between the cheaper fixed rate option over the full term. Using our [car business loan calculator](https://www.jadecarloans.com.au/car-finance-calculator "Calculate your vehicle loan for business") can assist with these comparisons. Vehicle rates vary across the market as lender make their own decisions. Some may cut or raise rates ahead of RBA decisions. Our depth of auto lending market coverage allows us to consistently source the best rates suitable to each customer at that time. Providing great rates and assurances for vehicle buyers. **Get the best interest rates on motor vehicle finance by contacting Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Loan offer doesn’t match car finance calculator figure? Find out why.](https://www.jadecarloans.com.au/blog/loan-offer-doesnt-match-car-finance-calculator-figure-find-out-why) **Published:** February 6, 2024 **Author:** Publisher **Content:** When a decision is made to buy a new vehicle with credit, the first thing many buyers do is use a car finance calculator. Most people are extremely familiar with online technology and systems and appreciate the convenience of these devices. Quickly entering the driveaway pricing with applicable rate displayed by the lender and preferred term, and noting the resulting monthly payment shown. But then, when they request a specific quote or submit an application, they are surprised when the monthly payment figure doesn’t match the calculated figure. There can be a number of reasons why a vehicle finance offer is not exactly the same as the figures that an applicant calculates themselves with an online device. But the explanation for the unexpected surprise is usually down to not entirely grasping how to interpret calculations made with an online lending tool. We explain. ## Why We Provide a Car Loan Calculator **Jade Car Loans provides buying tools including a car loan calculator so buyers can quickly estimate their possible finance prior to requesting a specific quote**. Allowing quick simple computations of what can be complex mathematical tasks involving interest rates over financing terms. These devices, provided by many lenders, are specifically developed to carry out the computations for the data entered. The key purpose being to provide rough ballpark figures that vehicle purchasers may use as a guide to making credit and buying decisions. ## Correct Interpretation of Car Loan Calculator Results To obtain optimum benefit from using our [business vehicle loan calculator](https://www.jadecarloans.com.au/car-finance-calculator "Unlock Financing Estimates with Our Vehicle Loan Calculator"), buyers should know how to correctly interpret the results they generate. That goes to appreciating what the device can and cannot do. Firstly, these are general buying tools. Any buyer can access the website and use the device. The device does not have the capability to assess that individual’s credit rating. Credit rating is an integral part of the process that lender’s undertake when preparing a credit offer, especially what interest rate will apply. Users typically enter the interest rate which is shown by the provider of the device. A rate typically for credit applicants with a good credit score. If their score is not rated as good, their rate and even the term and total credit approved, can be different. Buyers seeking pre-purchase estimates may benefit by having more information about their own credit profile. Useful information on credit reports is provided by [Moneysmart](http://www.moneysmart.gov.au "Moneysmart"). The other credit inclusions which cannot be assessed by these general online devices is what the charges and fees applicable to the lender may apply to that person’s financing. In regard to our device, our accreditations include more than 80 banks and lenders, with varying fee structures. After our brokers identify the right lender for that customer when a quote is requested, then the exact fees specific to that application can be included in any offer. Other factors to consider can be is the total credit entered a realistic reflection of the price of the vehicle, the condition of the vehicle as used v new credit can differ and if the buyer would be approved for the amount entered. ## Getting Optimum Benefit from a Car Loan Calculator To get optimum benefit by way of guidance from using our buying tool, users can note the disclaimer and heed these tips. When deciding the amount of credit required, consider if the driveaway price is inclusive of all the costs of the purchase. Buyers may end up selecting another variant or adding extras to their purchase. When entering a [commercial car loan interest rate](https://www.jadecarloans.com.au/car-finance-interest-rates "Find Out Competitive Commercial Car Loan Interest Rates"), appreciate that you may not be offered that exact rate. The same applies to the credit term. Always read the disclaimer and notes attached to our device. ## Car Loan Calculator Results v Quotes and Offers Understanding the terms used in the lending sector, such as [low doc car loans](https://www.jadecarloans.com.au/low-docs-car-loans-for-business-vehicles "Find Hassle-Free Low Doc Car Loans"), may drive buyers to achieve greater benefit from buying tools. The results obtained on an online computation device is only an estimate. A quote or offer is sourced based on the specifics of the buyer’s application and the vehicle being purchased. An approved offer is an offer made by a lender which has been approved. In order to obtain that exact figure, a quote request or application should be made. With the information included in these steps, our brokers can source the best rate, terms and repayments schedule for your purchase. Many applications in 24 hours to allow buyers to obtain the information required to quickly proceed with their vehicle purchase. Our focus is to provide the most streamlined lending process possible and that includes providing customers with the latest technology-based resources to carry out their pre-purchase planning and preparation. We update our systems to reflect the latest rates and products available in the market and support these tools with our expert brokers. When used appropriately, our tools can be used reliably and effectively to support motor vehicle buyers. **Contact Jade Car Loans 1300 000 003 for a quote to verify results obtained on our car loan calculator.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Easter road trip planned? Apply for low rate car finance now to secure your new vehicle ](https://www.jadecarloans.com.au/blog/easter-road-trip-planned-apply-for-low-rate-car-finance-now-to-secure-your-new-vehicle) **Published:** February 6, 2024 **Author:** Publisher **Content:** Easter is coming up at the end of March so it’s time for road trippers to consider their vehicle. Is it suited to the travel plans or would a new vehicle enhance the holiday vibe. There is still time for buyers to get approved for low rate car finance to acquire a suitable vehicle to head off in style, safety and comfort. It wasn’t long ago that the idea of getting a loan, walking into a showroom and driving away in new wheels was a rarity if not impossible. But supplies of new vehicles appear to have recovered significantly from the issues which led to long wait lists over the past few years. One aspect of purchasing a new vehicle which may require consideration is pricing. Many new models are hitting showrooms at higher prices than a few years ago. No doubt the outcome of global inflation. Finding the best interest rate loan can be the solution to affording that new vehicle to suit your travel plans. Whether heading off-road or staying on the black top, we provide credit for all types, models and makes of new vehicles – traditional fuel, diesel, hybrid of battery electric. New vehicles now include many of the latest safety features and this can be an important aspect to consider when embarking on a long road journey on a range of surfaces. ## Low Rate Car Finance Options With financing for [new business car loans](https://www.jadecarloans.com.au/new-car-finance "Discover Tailored New Business Car Loans"), lenders will, for most applicants. accept the vehicle as the security for the credit. That is, buyers would not be required to provide additional collateral to get approved for credit. Secured credit products are preferable as they attract the best financing rate for those with good credit. Presenting buyers with an easier and more affordable way to purchase their vehicle of choice, with their choice of secured motor vehicle loan. For buyers of new vehicles for private use, the choice of credit product will typically be our Secured Car Loan. This product has our lowest fixed interest rate, fixed term and repayment and no deposit financing is available. For business operators that can use their vehicle for road trips and for business purposes, the choice of financing includes Chattel Mortgage, Leasing and Commercial Hire Purchase. All including our highly competitive rates, balloon/residual options, structured to optimise tax benefits and with a repayment schedule to secured to work with cash flow. To assist buyers select a vehicle that meets their repayments budget, our [business car loan Calculator](https://www.jadecarloans.com.au/car-finance-calculator "Find Your Ideal Payment with Our Car Loan Calculator") is the ideal resource. Simply use the dealer’s advertised driveaway price for the credit amount, our advertised rate as a guide rate and start inputting various terms to arrive at an estimated repayment that is in budget range. Equipped with this intel, buyers can start the showroom shuffle and test driving to make their decision and select a vehicle with a price that converts to affordable monthly payments.. ## Selecting a Suitable Road Trip Car The requirements of a road trip car will of course be determined by a range of factors – the route and road conditions, the destination, the number of passengers and the gear to be brought along to enjoy the holiday. Australians have a wide choice of makes and models across the price spectrum. But based on the 2023 vehicle sales figures, the popular choices are SUVs and utes. SUVs and utes dominated sales last year and both types can be ideal road trip vehicles. Medium to large SUVs can handle a family’s trip worth of gear and many have the capacity to tow a boat or campervan. Smaller SUVs can be ideal for couples to stow their recreational gear for a getaway in style. Cab Chassis such as the top selling [Ford Ranger](http://www.ford.com.au "Ford Ranger") and the [Hilux](http://www.toyota.com.au "Hilux") have the versatility to tow work equipment all week and the boat or caravan on holiday. Among private buyers in 2023, best sellers were the Tesla Model Y, the MG ZS and the Toyota RAV4. Also in the top 20 were the Mazda CX-5 and Hyundai’s i30 ad Tucson. Convertibles and coupes can make the road trip a very special driving experience. Consider the Audi and BMW collections or for a more medium-priced option, the Mini Convertible. The financing options and rates equally apply to all types of vehicles – SUVs, utes, passenger cars convertibles and coupes. Our best interest rates may bring a higher priced model to well within affordability range. ## Get Fast Approval on Low Rate Car Finance **Easter road trippers can get fast approval through Jade Car Loans for low rate car finance to purchase a new vehicle suited to their travel plans.** Financing can be approved before the first dealership visit to provide certainty and confidence to be able to immediately proceed with the sale. Applications can be made online or by phone. When planning where to go, remember that heavy rains and cyclones have impacted many regions over the past few months and repairs to roads are still in progress. If intending to head off-road or on rough tracks and trails and lesser travelled routes, check ahead for road conditions. Double demerit points come into force over the Easter period. So drive to the speed limits to avoid penalties and make it a great Easter road trip in a new vehicle with our competitive rates and individually structured loans. **Apply for [low rate car finance](https://www.jadecarloans.com.au/ "Affordable Rates for car financing") to purchase a new vehicle for Easter travels by contacting Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Surprises with 2023’s best selling cars](https://www.jadecarloans.com.au/blog/surprises-with-2023s-best-selling-cars) **Published:** January 15, 2024 **Author:** Publisher **Content:** Buyers in the market for a new vehicle are sure to be interested in the monthly and annual best selling cars reports. The latest figures for 2023 have been released and contain a few surprises. It was a great year for sales, outdoing the previous record set in 2017. In another first, no passenger models – sedans, wagons or hatchback, make an appearance in the top 10 best sellers. And, when purchases by businesses are separated from those by private buyers, the Tesla Y was the best seller for the year. The monthly December figures were also positive. Even with 1 less selling day than December 2022, monthly sales were up 12% on 2022. Upticks were recorded in all segments – passenger, SUVs and light commercials. [Toyota](http://www.toyota.com.au "Discover the World of Toyota Australia: Cars, SUVs, Hybrids, and More") retained its position as best selling brand for the month with 9.6% of the market for December. Ford second and Mazda in third. ## Trends Highlighted by FCAI In announcing the 2023 annual and December sales figures, the Federal Chamber of Automotive Industries (FCAI) described the result as an ‘unprecedented milestone.’ Mr Tony Weber, the FCAI Chief Executive saying the results underscored the competitive nature of the Australian market. He said the market offered customers with a wide selection of choices. After the years of supply chain disruption, Mr Weber said that buyers now had greater access to more choices. The significant shift to SUVs and light commercial vehicles over passenger models is highlighted in these two categories covering 78.4% of the total sales for the year and the 10 top sellers all coming from these two segments. Mr Weber noted that there would be challenges ahead for the sector through pressures from high costs-of-living and interest rates impacts. ## Strong Sales for EVs The take-up of all types of EVs continues its upward trend. 7.2% of sales went to battery electrics. All types of EVs – battery, hybrid, plug-in combined, was 16.2% of total sales. Mr Weber said that the FCAI was optimistic in regard to the Federal Government acting to introduce a Fuel Efficiency Standard that would lead to reducing emissions and enabling Australian motorists to acquire the vehicles that they wanted. Noting that the two issues of affordability and availability Affordability would be key to the success of a Fuel Efficiency Standard. ## Top 10 Best Selling Cars 2023 In no real surprise, Toyota led the brands leader board for overall total sales for 2023. What could be seen as a surprise, though trends have pointed to this for some time, there is not one passenger vehicle in the 10 top sellers. This has not happened before. In 2022 there were two but the popularity of hatches, wagons and sedans has waned for several years with increasing popularity of SUVs. At number one top seller for the year was the [Ford Ranger](http://www.ford.com.au "Ford Australia Official Site") just over 2,000 units ahead of Toyota’s HiLux. An interesting stat is that Ranger sales increased just over 33% on 2022 while HiLux sales were down by 5%. Another workhorse, the Isuzu D-MAX came in third followed by the RAV4 and the MG ZS. The remainder of the top 10 was led by Tesla’s Model Y, Mitsubishi Outlander, then the CX5 from Mazda, Hyundai Tucson and Toyota Prado. The Tesla’s uptick of 230% compared with 2022 was the most outstanding, D-Max sales were up 28.2% and Outlander up 24%. Several of the others were in negative territory compared with 2022. But comparing year on year, one must take into account supply issues. ## Top Cars Purchased by Private Buyers An interesting breakdown of the data is when business and private buyer sales are separated. The top 10 takes on a completely different look when looking at sales to private buyers only. This could be of interest to the many private buyers looking to see what others have decided is a good buy. Tesla Model Y sold the most units just ahead of the MG ZS with the RAV4 in third. Then we see the Ranger and CX5 followed by Hyundai’s i30 and Tucson. In this breakdown HiLux only manages 8th spot, just a few hundred sales units ahead of the Model 3 Tesla. Then comes Mazda’s CX3 in tenth position. Interesting information for buyers ready to hit the round of showrooms for a test drive! When heading for a showroom, keep our [vehicle finance calculator](https://www.jadecarloans.com.au/car-finance-calculator "Calculate Your Vehicle Finance Options with Our Easy-to-Use Online Calculator") handy to work up financing estimates on quoted prices. ## Securing Low Rate Finance for Best Selling Cars Whiles sales of autos has increased, so has the price of many new models coming into the market. Of key interest to new vehicle buyers – both business and private, will be how to secure the [lowest car interest rate](https://www.jadecarloans.com.au/car-finance-interest-rates "Discover the Best Car Loan Interest Rates in 2024") credit for a top seller. **As specialist motor lending brokers, Jade Car Loans assists both business and private buyers to secure best selling cars with low rate finance**. Following numerous rate rises over the past few years, economic conditions are now looking like a hold on rates can be expected when the RBA meets in February. If and when any rate cuts are announced in 2024 will depend on the data as the months roll on. With our access to 80+ lenders, we are well-placed to secure the lowest rates currently in the motor vehicle lending market to suit the profile of each buyer. Contact us for a quote to get your purchase process off to a great start or consider arranging finance prior to test driving for that added confidence to seal the deal on the first inspection. **For low rate finance on 2023’s best selling cars, contact Jade Car Loans 1300 000 003 and speak with one of our brokers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [How to secure affordable sole trader van finance](https://www.jadecarloans.com.au/blog/how-to-secure-affordable-sole-trader-van-finance) **Published:** January 23, 2024 **Author:** Publisher **Content:** [Sole Trader](https://business.gov.au/planning/business-structures-and-types/business-structures/sole-trader "Visit the Australian Government Website to learn more") is a popular form of commercial entity structure for many Australians. As it is quite inexpensive and simple to establish, it is the preference for many individuals moving into self-employment. For those choosing this structure to work as delivery drivers, couriers, produce growers and producers, florists and tradies, they will likely require a vehicle and to purchase it – sole trader van finance. Operators with this type of structure are eligible for commercial vehicle credit. But sourcing the best rates and most suitable lender to secure the most affordable solution can present time and access issues for operators. By utilising the readily available services of a specialist motor vehicle lending broker, operators may minimise the time and maximise the outcome for their light commercial loan. ## Requirements for Approval for Sole Trader Van Loan The requirements for commercial vehicle credit are to hold an ABN and to provide financials on the operation. These financials or documents can include income tax returns, annual accounts, BAS returns and similar. Enterprises that have been operating for some time, should have accrued these records. Some lenders require a minimum 12-24 month trading time to be eligible for commercial funding and the presentation of turnover for a minimum period. A situation which can pose an issue for those that have recently set-up their operation. Where an enterprise has not traded for that length of time and does not have turnover data for the minimum time, they may require approval for funding ‘without financials’. This is known as [Low Doc Van Finance](https://www.jadecarloans.com.au/low-docs-car-loans-for-business-vehicles "Low Doc Van Finance") and can be sourced primarily through specialist lenders. We have accreditations with these lenders and can assist operators requiring this option. It allows smaller and newer operators access to workable vehicle funding without presenting the full set of documentation usually required. Due to the structure of sole traders, it is quite common for the personal financials of the trader to be requested with the application. In regard to GST, being registered is not an essential requirement. But operators may like to consider if they should register for GST. Why? Because many lenders consider registration as a positive when assessing applications. For assistance in considering your choices, refer to the information from the [Business Government website](https://business.gov.au/registrations/register-for-taxes/register-for-goods-and-services-tax-gst "Business Government website"). ## Sole Trader Van Finance Options **Sole Trader Van Finance can be secured with the choice of the most suitable facility from the selection of Chattel Mortgage, Leasing or Commercial Hire Purchase.** These same credit facilities suit all types of light commercials, new and used, with all types of fuel systems. That includes the latest EV models and top sellers such as the VW Caddy, Peugeot Partner, Toyota HiAce and LDV G10. The decision as to the most suitable credit option rests on whether the cash or accruals method of accounting is used to prepare the accounts; the strategy for the balance sheet; and the tax approach of the business. In regard to the balance sheet, Leasing can be seen as an option for easing or improving the balance sheet as ownership of the light commercial is with the lender over the credit term. With CHP and Chattel Mortgage the operator accepts immediate ownership, so the light commercial is entered into their books. As with companies and other structures, sole traders can realise all the tax deductions associated with selected credit facility. The monthly payments are fully deductible with a Lease. CHP and [Vehicle Chattel Mortgage](https://www.jadecarloans.com.au/car-chattel-mortgage "Chattel Mortgage For Cars") allow the light commercial to be depreciated to deliver a tax deduction. The depreciation schedule is according to ATO rulings at the time of acquisition. As a depreciable commercial asset, the light commercial may be subject to accelerated asset depreciation measures such as Instant Asset Write-off when available. The best or most suitable product will be the one that meets the individual objectives of the operator. Consulting with an accountant is strongly advised for a professional decision in this regard. ## Getting Best Rate on Sole Trader Van Finance The interest rates vary with the credit facility options with Chattel Mortgage and Commercial Hire Purchase featuring the lowest rate and Leasing slightly higher, across the lending market. The rate offered to a specific business, will be based on the lender’s assessment of the application which includes the credit profile. With rates also varying across the lending market, getting the best rate can also depend on applying to the right lenders. We save operators time in finding exactly that right lender with our extensive resources, accreditations and our expert capabilities. Your Jade broker will take your details and get back to you asap with a quote with the lowest rate available from across our 80+ lender base. To decide which vehicle may present the most affordable choice, operators can take advantage of free-to-use finance calculator to generate estimates to use as a guide. Then contact us for an exact quote or call us before even looking at light commercials for pre-approved credit. **Contact Jade Car Loans 1300 000 003 for affordable, best rates sole trader van finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Difference between Vehicle Leasing and Novated Lease](https://www.jadecarloans.com.au/blog/difference-between-vehicle-leasing-and-novated-lease) **Published:** January 10, 2024 **Author:** Publisher **Content:** The lending market, like so many sectors, has its own terminology. Specific terms, wording and references which, understandably, may be confusing for those seeking vehicle funding. Some of those terms which may cause confusion are Leasing and Novated Lease. Is Vehicle Leasing like hiring a car? What does ‘novated’ mean? **As specialists in motor vehicle finance, [Jade Car Loans](https://www.jadecarloans.com.au/ "Unlock the possibilities with Jade Vehicle Finance") are experts and provide a simple explainer on the difference between Vehicle Leasing and Novated Lease**. An overview of the key features of each of these credit facilities to clarify the difference and assist vehicle buyers select the funding product that is best suited to their requirements. ## Comparing Leasing and Novated Lease Both these terms refer to credit products which can be used to fund motor vehicle purchases not a form of vehicle hire or rental. They each have specific purposes. Lease is essentially for a commercial operator and Novated Leasing for individuals, in collaboration with their employer. Novated Lease is also known as Salary Sacrificing. The basic difference between a Vehicle Lease and Salary Sacrificing is that a Lease is a credit facility for businesses to finance motor vehicles for their operation. Salary Sacrificing is an arrangement which enables an employee to have a motor vehicle purchased for them by their employer as part of their salary package. ## Vehicle Leasing Explainer A very popular form of vehicle credit, which can be used by all types of commercial enterprises that use the accruals method of accounting, for funding all types of motor vehicles. The business operator selects the vehicle and arranges the purchase price with the seller. The lender then acquires the vehicle and leases it back to the operator. The lender holds ownership title over the credit term while the operator is responsible for the running costs including registration and insurance. The operator makes monthly payments to repay the funding and a residual is typically included. When all the payments, including the residual are finalised, ownership is transferred to the business operation. Attractive rates and tax deductions are a feature of this credit facility. For full details, refer to our webpage for more information on [car leasing](https://www.jadecarloans.com.au/car-lease "Learn about our automobile lease options"). ## Novated Lease with Salary Sacrificing Explainer This form of vehicle funding is a [vehicle salary sacrificing](https://www.jadecarloans.com.au/novated-car-leasing-and-salary-sacrificing "Car lease to purchase through salary sacrificing") or salary packaging product. It involves an employer buying a vehicle for an employee and the employee sacrificing part of their salary to cover the payments and other expenses. The employee receives less gross salary but receiving a benefit by reducing pre-tax income and hence tax payable. The employee essentially gets to choose the vehicle they want, subject to confirmation with the employer re the costings, etc. Employees wanting to work out estimates on how much they may need to sacrifice for vehicles at different prices can use our [Car Finance Calculator](https://www.jadecarloans.com.au/car-finance-calculator "Calculate your vehicle loan repayments"). Use the interest rate we are currently displaying as a guide to generate rough estimates on possible repayments. Other costs for the vehicle which would also be deducted from salary would need to be accounted for in addition to the funding payments. With this credit facility, the loan commitment is ‘novated’ or transferred, from the employee to the employer. The employer makes the leasing payments and receives the relevant tax deductions with GST and the monthly payments. FBT may be payable and the employer may include this expense in the employee’s sacrificed salary. The employer deducts the agreed total costs from the employee’s pre-tax income. When all the payments are finalised, the ownership of the vehicle is transferred to the employee. If the employee leaves that company while money is still owed on the vehicle, an agreement would need to be reached between employee and employer. Those interested can review the [Australian Taxation Office details](https://www.ato.gov.au/individuals-and-families/jobs-and-employment-types/working-as-an-employee/salary-sacrificing-for-employees "Visit the Australian Taxation Office for more information"). ## Applying for Novated Lease Salary Sacrificing Salary sacrificing is typically initiated by an employee but an employer may raise the issue with an employee as an incentive or bonus. If salary sacrificing auto credit is of interest to you, first speak with your employer. You will need their agreement in principle with the concept before proceeding. When agreement is reached with the employer, contact Jade to speak with one of our consultants about sourcing quotes from the right lender. With three parties involved in the credit arrangement – lender, employee and employer, this can be a more complex form of funding. As experts in vehicle lending, we have extensive experience in sourcing the best rates and structuring this credit facility to suit individual requirements. Business owners requiring Leasing can quickly request a quote or proceed to apply online for 24 hour approval. If you still have questions, please feel free to connect with us for all the answers on motor vehicle funding. **To discuss the Leasing and Novated Lease and for quotes, contact Jade Car Loans 1300 000 003 and speak with one of our brokers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Looking for a new beaut ute? Check out the current deal on a Mazda BT-50](https://www.jadecarloans.com.au/blog/looking-for-a-new-beaut-ute-check-out-the-current-deal-on-a-mazda-bt-50) **Published:** January 22, 2024 **Author:** Publisher **Content:** When it comes to beaut utes, Australian buyers have a great selection. While the market sales are dominated by the Ford Ranger and [Toyota HiLux](http://www.toyota.com.au "Explore the Toyotal Hilux Range") there are numerous other hard-working vehicles to consider. The Isuzu D-Max, the new models coming from China and the very popular Mazda BT-50. Mazda was third best-selling auto manufacturer for 2023 and in monthly sales in the past few years has often been in second spot behind market dominator Toyota. While the brand’s ute didn’t appear in the top 10 best-selling vehicles for 2023, the savings currently on offer could put it well into contention for many savvy buyers. Make the purchase with our cheaper rates on personal and commercial vehicle credit and the prospect of owing one of these new beaut utes can become even more appealing. ## **[Mazda BT-50](https://www.mazda.com.au/cars/bt-50/#specs-and-prices "Discover the Mazda BT-50") Features and Specs** This cab chassis is a 4 cylinder, 1.9/3.0L turbo diesel with a gutsy 3.5 tonne braked towing capacity. The vehicle is loaded with tech to allow owners to stay connected. There are three cab styles in the range – single, freestyle and dual, with a number of variations and packs available. The dual cab chassis style is extremely popular for its versatility for private and commercial applications. Take the family, take the work crew. Stow the tools, stow the surfboards and bikes. Head to the work site, head to a remote adventure location. Tow the boat, tow machinery. The range, with the exception of the Thunder model, has a 5 star ANCAP safety rating. Features include trailer sway control, rear cross traffic alert, lane departure warning, blind spot monitoring and many others. The enhancement packs allow buyers to spec their vehicle to suit their specific applications. The colour selection includes the most popular colours – black, white, red, silver and two grey tones. Worth checking out? Review the deals currently being offered which may sway decisions as to which specific variant to consider. ## Current Mazda BT-50 Savings The brand is currently offering a deal with the 2023 model clearance on the dual cab, 4×4 XT manual model. Price advertised is $51,990 for ABN holders and prospective buyers should check with their local dealer for specific details. No mention of on roads and delivery charges. Also seen in the auto media, a savings on the SP 4×4 Auto $67,990 driveaway. Significantly below the usual $68,500 plus on roads. Depending on the individual state charges involved with on roads, that deal can represent a significant savings. To get a rough estimate of what that pricing may equate to monthly repayments, use our Finance Calculator. ## **Competitive Rates on Affordable Mazda BT-50 Finance** Savings on vehicle purchase pricing are most welcomed by buyers, especially in the current economic climate. But any savings made on the pricing can be eroded if the vehicle credit is not equally competitive. To capitalise on their ute savings, buyers can consider our competitive rates on cab chassis finance across all makes and models. The motor vehicle lending market is large and extremely competitive. Buyers seeking the best rates can spend a lot of time trying to find the lender that offers the lowest rate for their profile. Not realising that while seeking those lowest rates and requesting quotes to compare, they are potentially impacting their credit score. With our 80+ lender base, we can far more quickly and easily find that right lender and the lowest rate, without impacting our customer’s credit profile. **Jade Car Loans offers competitive finance rates for the Mazda BT-50 to enable private and business buyers secure repayments that work with budgets and cash flow**. Private buyers can achieve our best rates on a Secured Car Loan while business operators can select the commercial financing facility that suits their operation. Our portfolio of [commercial car loans](https://www.jadecarloans.com.au/overview-of-business-car-finance "Business Vehicle Financing Options") includes the full selection – Commercial Hire Purchase, Leasing and Chattel Mortgage. Commercial operators can realise savings on their Mazda, savings on interest rates and receive tax deductions. Approvals can be received within 24 hours, so buyers can be quick to snap up stock in the 2023 model clearance which may be limited. Apply for funding ahead of the showroom visit to ensure you have the approval to commit to the model variant and colour preference. ## Calculating Ute Loans Before test driving or even going deep into vehicle specs and features, many buyers will want some idea of what that advertised price may mean for them in terms of monthly credit payments. We make that easy with our [Car Finance Calculator](https://www.jadecarloans.com.au/car-finance-calculator "Calculate your car loan repayments fast"). Both private and commercial buyers can use the calculator as the numbers entered are totally up to the user. Enter the amount required for the credit. If using a trade-in as a deposit, deduct an estimate of what you think you may be offered from the credit total. Use the interest rate we are currently offering for the specific credit product that suits your requirements. Enter the term preferred – up to 7 years available. The calculator instantly displays the monthly payment estimate based on those figures. No tricky maths, no high level calculations. If the estimate is in your ballpark, submit your application online or by phone for a low rate offer. To get behind the wheel of your new BT-50, request a quote and get the funding process underway. **Contact [Jade Car Loans](https://www.jadecarloans.com.au/ "Best Car Financing") 1300 000 003 for competitive rates on Mazda BT-50 finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Securing Finance to Buy at Car Auctions](https://www.jadecarloans.com.au/blog/securing-finance-to-buy-at-car-auctions) **Published:** January 22, 2024 **Author:** Publisher **Content:** While many buyers are still reviewing the best-selling new cars of 2023 for their next buy, there are others looking to for used models coming up at car auctions. These types of sale events can be a smart place to purchase quality second-hand vehicles at potentially great prices. Ex hire car company stock, ex government and company fleet vehicles are regularly sent to auction houses for sale. Many of these organisations have policies to upgrade vehicles at a certain mileage or age, regardless of their good condition. Providing high quality, low mileage, fairly recent models for canny buyers. With the price of new models increasing significantly in recent years, buying second-hand can present a sensible alternative for many buyers, especially those dealing with cost-of-living pressures. But in order to be the successful bidder on the day, buyers may need to have the assurance that they will be approved for the financing required. **Jade Car Loans assists buyers to be ready to confidently bid and buy at car auctions by pre-arranging and pre-approving used vehicle finance.** We have options for buyers intending to purchase a specific vehicle and for those taking a more general approach to attending a sale event. Being there and ready to make a spontaneous bid if a quality lot comes up at a bargain price. ## What to Expect When Buying Cars at Auction For those that may not have purchased at a sale event previously, it can be worthwhile to do your homework, research and preparation. Individuals looking for a personal drive and business operators can bid at sale events. Many events are run entirely online while others can be in-person events with live online bidding as well as in the room. So buyers can bid without having to attend. Opening up opportunities to purchase vehicles in other states and territories. Bidders will need to register and should check out the requirements for the individual sale house. Particularly note what payment is required on the fall of the hammer and when the final payment is due. When credit is pre-arranged through Jade, we can liaise between the sale house and our lender. Successful bidders will likely need to make some form of deposit-style payment on the day and buyers may need to organise this themselves. Sale houses will advertise their catalogue online for each event ahead of time. Vehicles are available for inspection at the location in the lead-up to the event. Where possible, buyers should inspect vehicles prior to bidding and find out what checks have been done by the sale house in regard to verifying ownership etc. They may not have done a PPSR check, we can assist with that. Note as much detail about the vehicle(s) of interest to brief our brokers when pre-arranging credit. The more information available on the vehicle can provide a more specific funding quote. ## Vehicle Financing Options for Buying at Auction There can be strong bidding for quality lots, especially by experienced, regular sale event attendees. Buyers that know their approved funding limit can have greater confidence to bid to that limit and potentially not miss out on a great purchase. Additional costs such as to the sale house and change of ownership/registration to the state department of transport department will likely apply. Sale lots will be used vehicles, so buyers need to consider our used vehicle financing options. The same credit products can be used for new and used vehicles, but with some variations in features for used vehicles. The specific credit product most suitable for the used vehicle funding – secured or unsecured, will depend on our lenders accepting the vehicle as security. That is why we need as much detail on the vehicle as possible. Most quality second-hand vehicles can be used as security for the funding. For [private car buyer](https://www.jadecarloans.com.au/personal-car-finance "private car buyers")[s](https://www.jadecarloans.com.au/personal-car-finance "Vehicle Loans for personal use") the choices are Secured Car Loan or an Unsecured Personal Loan. [Commercial car buyers](https://www.jadecarloans.com.au/overview-of-business-car-finance "Business Vehicle Loans") should consult with their accountant as to whether Chattel Mortgage, Leasing or Commercial Hire Purchase is best suited for their operation. Competitive, low interest rates can be secured on quality used vehicles. Lenders will take into account the condition and the age of the vehicle when setting conditions such as lending limit, term and if additional collateral is required. ## Applying for Finance to Buy Car at Auction Applying for credit ahead of the event is strongly advised. With our 24 hour approval service we can handle most last minute requests. The same application process is required for credit approved before or after a purchase. If you’ve browsed the catalogue and earmarked a number of vehicles of interest, approval may be secured based on a lending amount for that specific vehicle. Where a more spontaneous approach is taken, buyers may be approved on a general basis to a certain credit limit. In both instances, the details of the exact loan amount are finalised post-auction. ## Upcoming Auction Events [Pickles](https://www.pickles.com.au/government-vehicles/nsw "NSW Government Vehicles Auctions at Pickles Australia") is one of the most well-known sale houses and hold sales of fleet, government and other vehicles at 9.30am each Tuesday. [Auto-Auctions](https://www.auto-auctions.com.au/ "Auto Auctions Australia - Find Your Next Vehicle") have simulcast sales at 10.30am every Tuesday and Thursday. If you’re interested in buying at one of these events, contact us to discuss how we can assist with arranging your vehicle funding before the start time. **To secured financing to buy at car auctions, contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Novated Lease & Salary Sacrifice: Explained](https://www.jadecarloans.com.au/blog/novated-lease-salary-sacrifice-explained) **Published:** March 4, 2020 **Author:** Publisher **Content:** With wage growth continuing to be sluggish, businesses need to look to incentives to attract and retain quality workers. With no wage increase on the horizon, employees are looking for other measures to improve their real income. Novated Car Leasing with Salary Sacrificing packages provided by Jade, offer attractive benefits to both employers and employees and may be a workable solution for you. [Novated Car Leasing](/novated-car-leasing-and-salary-sacrificing "Contracted Vehicle Lease") is one of the finance products we offer our customers as part of our portfolio of loan options. This type of car financing is structured to suit employers who want to provide a full-maintained motor vehicle for one of their employees to utilise in carrying out their work with the company. But they want the vehicle to be part of the employee’s salary package rather than an added extra. On the employee side, a Novated Car Lease can be utilised to reduce taxable income and thus deliver an income benefit in addition to having the use of the car. Both parties need to concur on the agreement to include the purchase costs and ongoing expenses of the vehicle in the employee’s salary package. It is in the interests of both parties to source the cheapest Novated Lease deal and our Jade consultants work with businesses to structure a package at the lowest [business car finance interest rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Business Car Financing"). ## Novated Lease: Explainer It is important for both employer and employee to understand the details of a Novated Car Lease and the benefits they will enjoy. By definition, novation means that one obligation is replaced with another obligation. In other words, one party to an agreement, arrangement, commitment or deal, is replaced with another party. A Novated Car Lease, often considered as a form of [low doc car loan](/low-docs-car-loans-for-business-vehicles "Flexible Financing: Low Documentation Car Loans for Business Vehicles"), actually involves 3 parties to the financial contract: the employer, the employee, and the lender. The employee is the first party, and they ‘novate’ the lease to the employer who takes on the financial commitment. The employer then effectively replaces the employee in this arrangement. The Salary Sacrificing component involves the employee sacrificing a portion of the pre-tax wages in return for having a vehicle provided by the employer. ## Features of a Novated Car Lease Your Jade [car finance broker](/car-finance-broker "Australia Wide Car Loan Broker Services") will work with all parties to structure a Novated Car Lease that meets the objectives of both the business and the employees and negotiate the best interest rate and terms with the lender. - Most banks and lenders offer Novated Leases so your Jade consultant has a wide selection from which to source you the best lease deal. - All Jade Novated Leases are structured on the basis of our signature cheap interest rates. - The vehicle itself is selected by the employee and they can handle negotiations with the seller. - Novated Leasing with Salary Sacrificing is only available for the purchase of consumer vehicles, not commercial trucks etc. - Novated Car Leases can be utilised for new or used cars, purchased through a dealer, a private seller or at auction. - In most cases, the employer will then take over and handle the financial aspects of the loan process in consultation with their Jade consultant. - The employee is novating the lease contract to the employer. - Once Jade finalises the lease arrangements, the employer takes responsibility for the vehicle expenses: lease payment, registration, insurance, petrol, service and other costs. - The vehicle expenses are deducted from the pre-tax income of the employee. - The employee has full use of the motor vehicle, which must primarily be used for their work purposes. A level of private service of the vehicle is permitted, subject to FBT and [ATO](https://www.ato.gov.au/ "Official Australian Taxation Office Website") rulings. - By sacrificing that portion of their income, the employee will likely move into a lower tax bracket and their tax payable is reduced. - The employer pays the monthly lease payments which are fixed for the term of the lease. - Depending on the purchase price of the vehicle, terms for this type of lease can range from 12 months to up to 60 months. - A residual is an option with Novated Leases and the amount is determined by ATO guidelines. - The employer claims the GST on the lease payments and the residual and accounts for any FBT that may apply. - Lease payments are tax deductible for the employer business, subject to ATO guidelines. - At the end of the lease term, the employer finalises the residual and the ownership of the vehicle is returned to the employee, unencumbered. - Should the employee leave their employ of that business before the lease is finalised, they will need to come to an agreement with the employer and the lender regarding the lease. There are clear benefits for all parties and for employers looking to attract high-quality staff in times of low wage growth. An [ABN car loan](/abn-car-loan "Unlock Your Business Potential with ABN-linked Car Financing") might be an incentive to consider. Deciding whether this is the right finance product for your business should be made in consultation with your accountant. ## Arranging a Novated Car Lease If you are an employee interested in a Novated Lease, you should first raise the matter with your employer to ensure they are in agreement. Employer businesses, especially those exploring [small business car finance](/business-car-finance "Unlock New Commercial Vehicle Loan Solutions") options, can then discuss the details and arrange the lease deal through their Jade Finance consultant, who will streamline the entire process. If a Novated Car Lease is of interest to you, please call a Jade consultant for a confidential, non-obligation discussion and to answer any queries you may have about the details. **For cheaper finance on all types of cars, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Coronavirus Stimulus: Instant Asset Write-Off for Cars](https://www.jadecarloans.com.au/blog/coronavirus-stimulus-instant-asset-write-off-for-cars) **Published:** April 14, 2020 **Author:** Publisher **Content:** In response to the effects on many sectors of the economy of the coronavirus pandemic, Governments at all levels have released a range of measures to support both individuals and businesses. There are numerous stimulus packages, support measures and recovery plans to analyse, digest, apply for and implement to assist your business in dealing with the fallout from COVID-19. The Instant Asset Write-Off (IAWO) is worth noting for businesses considering purchasing new cars. ## Instant Asset Write-Off – The Facts - The IAWO was announced in the first stimulus package and is designed as a time-limited 15 month measure to boost the economy in the short term. - Increase in IAWO from the current level of $30,000 to $150,000 for businesses with an aggregated annual turnover of up to $500 million as of 30 June 2020. - To claim the IAWO assets, in this discussion, the cars must be purchased and used by 30 June 2021. - The measure applies on a ‘per asset’ basis so multiple cars can be purchased under the IAWO initiative. - We recommend you refer to the complete fact sheet with the [Business Investment Support Guide](https://treasury.gov.au/sites/default/files/2020-04/Fact_Sheet-Delivering_support_for_business_investment.pdf "Commercial Capital Enhancement Fact Sheet"). - Discuss your individual business circumstances with your accountant ## Selecting Your Car Finance for the IAWO - The IAWO is only available to businesses, not individuals, so only commercial finance products not personal car loans are applicable. - Jade Car Loans offers a comprehensive range of commercial finance products for the purchase of cars, but not all will apply to the IAWO - Car Leasing is an off-balance sheet finance facility and cars purchased under this type of loan would not be eligible for IAWO. With leasing, the car will appear on the lender’s balance sheet. For businesses to receive the benefit of the IAWO measure, the asset must appear on their balance sheet. - Purchasing a car of a value between $30,000 and $150,000 with [Business Car Loans](/overview-of-business-car-finance "Commercial Car Finance Options") Hire Purchase (CHP) and [Chattel Car Mortgage](/car-chattel-mortgage "Discover Chattel Car Mortgage Solutions") should make the car an eligible asset under the IAWO measures. - Selecting which is the most suitable finance product for your business, should be made in conjunction with your accountant. - While this IAWO measure associated with the coronavirus stimulus package has benefits for some businesses, it may not offer the same level of advantage to others. - Some businesses may see the advantages of car leasing for their car purchases, to outweigh the benefits derived from a CHP or Chattel Mortgage loan with the IAWO benefits. - The IWAO may be the deciding factor if you are considering which vehicle to purchase. ## Benefits and Considerations of the IAWO in Your Car Finance Decision Whatever finance product you select, you are assured that Jade Cheapest Car Loans will support you with our cheap car loan commitment and better interest rates promise. Additionally, using our [business car loan calculator](/car-finance-calculator "Estimate Your Monthly Payments with the Business Car Loan Calculator") can provide you with instant estimates tailored to your financial needs. To comply with COVID-19 distancing restrictions and protect our staff and clients, we have transitioned to a work from home structure for now. However, our operations are not dependent on many in-person interactions so the impact on our operation is minimal. Jade Car Loans provides continuity of our high level services across all sectors of our business. To ensure your car finance application is processed as swiftly as possible and the loan finalised quickly. **To discuss the options for your car finance requirements contact us on 1300 000 003 to speak with a Jade Car Loans consultant.** DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE *PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [COVID-19 Car Loan Repayment Relief](https://www.jadecarloans.com.au/blog/covid-19-car-loan-repayment-relief) **Published:** April 15, 2020 **Author:** Publisher **Content:** The COVID-19 crisis has had devastating economic impacts across Australia with many individuals and businesses facing difficulties meeting their car loan repayments obligations. We have fielded multiple enquiries from our Jade Car Loans customers requiring information and we have compiled this information blog to assist as best we can at this point. Different support and relief measures are being offered by many organisations for both individuals and businesses. Depending on whether you have a personal car loan or a business car finance package may determine the best course of action for your particular requirements. Using tools like the [business car loan repayment calculator](/car-finance-calculator "Navigate Your Finances with the Commercial Vehicle Finance Repayment Estimator") can further guide your decisions in these challenging times. ## Sourcing Car Loan Repayment Relief The first step for both consumer car loans and business car finance loans is to go directly to your lender’s website. We have noted that most banks and lenders have set up websites and web pages specifically dedicated to their support for their loan customers. These sites may be differentiated by consumer and business or by specific loan types, i.e. car loans. The contact details for that lender are usually clearly displayed and most are requesting customers to make contact via email as they are dealing with large volumes of phone calls. Where possible, send the lender an email that details your contact information; your car loan account information, including if it’s a [low doc car loan](/low-docs-car-loans-for-business-vehicles "Streamlined Minimal Documentation Car Financing for Business Vehicles"); clearly states that you are requesting COVID-19 support; the type of relief you would like, the most common being a 6 month deferment of repayments; and your specific financial hardship circumstance. For example, individuals could state if they have been stood down, etc. Business customers should state their usual turnover and the decrease being realised due to the coronavirus so the lender can determine if they are eligible for small business or other support. ### **General Car Loan Relief Information** - Car finance is a major part of our finance business and as such we are accredited with multiple banks and lenders and deal with many customers. On observation of the impact policies being offered by lenders, we can deduce that no blanket approach can be used to describe car loan relief. - Individual banks and lenders have developed their policies but most are offering up to 6 month deferment of car loan repayments. - Policies may differ for personal and business loans. - Deferred payments mean that the financial obligation still exists but you can take a payment holiday and resume the regular repayment schedule in the set 3-6 month time period. This effectively extends your overall loan term and interest may still be charged over the extended period. - Deferment of car loan repayments is not automatically issued to all car loan customers. Individuals and businesses must apply to be granted this measure. - If you do not apply/request a deferment and you default on payments, the lender has the right to repossess your vehicle. So it is important to contact your lender if you are in financial hardship. - A deferment is different from a waiver. A waiver means the payment or financial obligation is forgiven, deleted or forgotten and never has to be paid. This may apply to some fees by some government authorities and other organisations but does not appear to be offered by car loan lenders. ### **Car Loan Lenders Support** We have managed to compile contacts for some car loan lenders below and if your lender is not on the list, please source their website for details. #### **ANZ** If your car loan is with ANZ, [click here](https://www.anz.com.au/support/covid-19/). #### **WESTPAC** If your car loan is with Westpac, [click here](https://www.westpac.com.au/help/disaster-relief/). #### **COMMONWEALTH BANK** If your car loan is with the CBA, [click here](https://www.commbank.com.au/latest/coronavirus.html?ei=hp-ban-cvp-default-coronavirus). #### **MACQUARIE BANK** If your car finance is with Macquarie Bank, [click here](https://www.macquarie.com.au/financial-assistance/coronavirus-support.html). #### **Government Support** The Federal Government, individual state and territory governments, and local councils have a range of support measures in place to assist individuals and businesses, including those seeking [commercial car finance](/business-car-finance "Explore Business Vehicle Solutions"), who have had their income affected by COVID-19. Please search the relevant websites to see what support you may be entitled to. This can assist with making your boat loan repayments or “commercial car finance” obligations without requiring deferment. **At Jade Car Loans we’ve moved to work from home arrangements but will be providing continuity of service throughout the COVID-19 crisis.** *DISCLAIMER: THE INFORMATION PROVIDED SHOULD BE USED AS A GUIDE ONLY. ALL INDIVIDUAL LOANS AND ARRANGEMENTS WITH SPECIFIC LENDERS SHOULD BE MADE DIRECTLY. JADE BOAT LOANS IS NOT IN A POSITION TO PROVIDE SPECIFIC ADVICE ON ANY SPECIFIC CAR LOAN.* **Categories:** Uncategorised --- ### [Time to refinance your car loan?](https://www.jadecarloans.com.au/blog/time-to-refinance-your-car-loan) **Published:** April 16, 2020 **Author:** Publisher **Content:** There is currently a lot going on in the world – understatement of the year! Coronavirus has changed a lot of things for a lot of people. Regardless of how you have been personally impacted – stood down, working from home, trading your business through the crisis, hibernating your business, working as close to normal as possible – everyone is concerned about the economic situation. Many are using all that extra time at home in lockdown to evaluate and assess many aspects of their business and personal finances with refinancing one of the options on the table. Refinancing your current car loan could be on your list, so we’re covering some of the issues to consider. ## The Big Picture Before drilling down to a single reason to refinance your car loan, you should be taking a wider view of a number of issues – your personal circumstances, global impacts, [coronavirus effects](https://www.health.gov.au/health-alerts/covid-19 "Understanding the Effects of Coronavirus: Key Insights"), etc. – and see how the cumulative effect of all these issues then influences your decision-making. The key issues to take into account include: ## Low Car Finance Interest Rates Interest rates were already heading for historic low levels before the coronavirus crisis emerged. As part of the monetary response to COVID-19, the [RBA](https://www.rba.gov.au/ "Exploring the Role and Functions of the RBA") further lowered rates. Lenders have responded over time and current interest rates on car loans for both consumers and businesses are at historic lows. If you are part-way through a car loan at a much higher rate, your Jade Car Loans consultant can give you a quote on repayment estimate based on the current lower rates – or use our [commercial car finance calculator](/car-finance-calculator "Loan Repayment Calculator"). But by singling out interest rates as your main reason for refinancing, you need to take into account any fees and charges that may apply in establishing your new loan. Break fees may apply if you finalise your loan before your due date. Your Jade consultant will look closely at these issues to ensure that refinancing is a better solution for you. ## Your Car Loan Payment History Refinancing your car loan will involve your Jade consultant sourcing you a new loan and that will mean applying to a new lender. Key question: do you have a good payment record on your current loan? Making your repayments on time is a key factor in retaining a good credit profile. ## Income The coronavirus has meant that many people will now depend on the [JobKeeper](https://treasury.gov.au/coronavirus/jobkeeper "Understanding the JobKeeper Initiative: Eligibility and Benefits") and [JobSeeker](https://www.servicesaustralia.gov.au/individuals/job-seekers "JobSeeker Support: Navigating Benefits and Eligibility Criteria") programs for their income. What lenders may possibly be noting in regard to consumer personal car loans is consistent income before the impacts of COVID-19, was income affected by fallout of the pandemic, if so to what extent and once the crisis is over what your income will be. For business car finance packages, assessing income pre and post COVID-19 may also be closely assessed. ## Hardship Measures Many people are applying for repayment deferrals due to the impact of coronavirus on their income. If you are or are planning to approach your lender for a 6 month deferral, this may affect your prospects of refinancing. Under usual guidelines, most lenders are not readily willing to refinance car loans due to hardship circumstances. ### **The Process** If you weigh up all the issues and decide that [business car refinancing](/car-refinancing "refinance business car loan") is of interest to you, then speak with a Jade consultant and discuss the process. The refinancing process is somewhat similar to applying for an initial car loan. Your consultant will discuss your objective and your requirements and then source you the best offer possible from our wide range of lenders. - New loan term: you may choose to shorten or extend your current term. - New repayment amount: depending on your personal situation you may choose to increase or decrease your current repayment level. - If refinancing at a lower interest rate, you may choose to retain the same repayment level and therefore shorten the loan term. - Alternatively, use the lower interest rate to decrease the repayment amount while retaining the same loan term. On acceptance of the offer, your consultant will handle the paperwork involved in your new lender paying out the previous loan and establishing your new [business car finance](/overview-of-business-car-finance "Comprehensive Overview of Commercial Vehicle Loans") structure. **If you would like to discuss refinancing your personal car loan or business car finance, please contact a Jade consultant for a confidential conversation. Call 1300 000 003** **Categories:** Uncategorised --- ### [Business As Usual in Car Finance](https://www.jadecarloans.com.au/blog/business-as-usual-in-car-finance) **Published:** April 27, 2020 **Author:** Publisher **Content:** Coronavirus has presented strange and challenging times for everyone with constraints on our lives set to last for some time to come. While many businesses have been forced to close, many others have been operating in a ‘business not quite as usual’ manner but still operating. Gratefully, Jade Car Loans is one that is still operating and as we have pivoted to a combination of work from home and in-office scenarios we have continued to deliver our full range of services. ## Navigating the Current Car Market The car sales sector has also been operational throughout the COVID-19 crisis with both new and used dealers ready to take your order. If you’re still in lockdown, auctions have been forced to move online, so you won’t miss out there. With the end of the financial year (EOFY) sales are on the horizon and in many cases likely to be brought forward, now could be the time to get a bargain on a new car. Dealers will be keen to move stock, oil prices are down, interest rates are down, and we’re all ready to get back on the road and start moving around so what better way to lift our spirits than to do it in a [new business car loan](/new-car-finance "Discovering Fresh Commercial Vehicle Financing Solutions"). A new car to signal the start of a new era. For businesses, remember the Instant Asset Write-Off which is part of the Federal Government COVID-19 stimulus package is still on the table. Investing in a new vehicle now might be a great boost to your balance sheet come 30 June. With Holden recently announcing their exit from the Australian market, we know many Holden fans are keen to get their hands on the steering wheel of one of the last vehicle to roll out of the factory. If that’s you, then don’t wait too long or you will likely miss out. ## Sourcing a Car Bargain Trade with some overseas car manufacturers may be impacted for the near future due to shutdowns in manufacturing plants in many countries. But our industry research suggests that many Australian importers and dealers have good stock of recent models that they need to shift. That usually means very attractive discounted prices and plenty of add-on offers. ### Adapting to New Ways of Car Shopping To comply with physical distancing rules, many dealers will be quite prepared to bring a vehicle to your home to inspect. So don’t think if you can’t get out you can’t get a new car. Contact a dealer in your local area and discuss the options over the phone if you think heading to a car yard you may risk a fine for not complying with your state’s lockdown laws. We did a quick browse of some new car manufacturer and dealer websites and found great offers, here’s a few to whet your appetite:- - Holden are offering the Holden Final Clearance as of mid-April 2020. The sale is across a range of Holden models at participating dealerships. Check out the details at holden.com.au/offers - Ford are displaying details of 2020 passenger car models and great offers on commercial vehicles, SUVs and passenger cars. See what’s on offer at - Peugeot is offering a great driveaway price on the MY19 3008 SUV Allure. - Audi is expecting a number of new models to arrive in 2020 so now may be time to register your interest and talk to us about pre-approved finance so you’re ready to take delivery when your vehicle arrives. ### Exploring the Robust Used Car Market The used car market is always strong and dealers, auctions and private sellers have plenty of listings for you to consider. One of Australia’s leading car auction companies, Pickles, has online auctions happening across the country every week. Check out what’s coming up in state at [www.pickles.com.au](/) ### Car Loan Bargains As part of monetary policy measures to combat the economic impact, the Reserve Bank of Australia further reduced interest rates. These type of announcements might sound like highbrow financial statements and in many cases you’re correct. The bottom line for consumers and businesses – what it means for you is that interest rates are at historic lows. How long they will stay there is an unknown at this point and some lenders are tightening guidelines for some borrower categories. So if you’re looking at buying a new car, the time for securing a great loan couldn’t be better and never has it been more important to get in touch with a [business car loan broker](/car-finance-broker) rather than DIY finance. **To discuss a cheap [business car financing](/ "Vehicle financing for Commercial use"), contact us at 1300 000 003 to speak with a Jade Car Loans consultant.** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Climate Change, COVID-19 and Cars](https://www.jadecarloans.com.au/blog/climate-change-covid-19-and-cars) **Published:** April 29, 2020 **Author:** Publisher **Content:** Remember climate change? The world’s greatest challenge and most pressing problem before COVID-19? The global protests led by [Greta Thunberg](https://en.wikipedia.org/wiki/Greta_Thunberg "Explore the Journey of Greta Thunberg: Environmental Activist"), the pressure and the push-back to reduce carbon emissions. Unfortunately but understandably, climate change has had to take a back seat as the life-threatening issues around coronavirus dominate both the news and just about every element across the globe. But there is an interesting relationship between COVID-19 and climate change that is yet to get large-scale coverage and we’ve made the connection to the motor vehicle market. The lockdowns of manufacturing, suspension of air travel, fewer cars on the roads, and fewer ships in the oceans are reducing carbon emissions. Before and after satellite images in big-polluting countries such as China, clearly show a much clearer and cleaner environment during the COVID-19 shutdowns. A photo on social media by a resident in India revealed a view of the nearby mountains which most of the population in that city had never seen because it was always obscured by smog. The waters in the Venice canals are the cleanest in centuries with even sea life returning. While at the moment these are only interesting observations and make for great social media photos, it’s highly likely that once the coronavirus emergency subsides, the climate change conversation will once again make the front pages. ## Electric Vehicles: Overview This is sure to put the spotlight on electric and hybrid vehicles. Buyers will be making big decisions when it comes to their next new car purchase. Apart from badge, model, size and colour, you’ll have to include – petrol, diesel, hybrid or electric power. Initially, electric vehicles (EVs) were perceived as somewhat of a novelty by many, and while options like [electric car hire purchase](/commercial-hire-purchase "Exploring Electric Car Hire Purchase Options") were emerging, the range remained a major factor and the lack of charging stations a significant deal-breaker. As these challenges have been addressed, there’s a mounting push in the community to combat climate change by minimizing carbon emissions. Engine manufacturers have invested significantly in research and development of energy-efficient systems, and as a result, the popularity of EVs is on the rise. We took a browse around some of the major manufacturers to see what’s on offer in EV models and other energy efficient issues. ### Pioneers of the Electric Revolution: Notable EV Manufacturers and Their Offerings Toyota was an early adopter with its Prius range and continues to be a leader in the hybrid market. However, the big news out of Toyota…according to ‘industry sources’, the Land Cruiser V8 is being discontinued. [Toyota](https://www.toyota.com.au/ "Exploring the Innovation and Legacy of Toyota") is phasing out the petrol and diesel V8s in favour of their V6 engine including petrol hybrids. The Land Cruiser has been an icon for 4WD lovers and people on the land and this will be big news for many. [Tesla](https://www.tesla.com/en_au "Electric Vehicles") is probably the car manufacturer that most people instantly associate with electric vehicles and they’ve managed to combine luxury with functionality. They are continuing their push into the general car market with a range of models available to suit many drivers. Climate change has been a big thing in Germany for a long time, with many government initiatives. So it’s not surprising that the big names in German motor vehicle manufacturing have followed suit. [BMW](https://www.bmw.com.au/en/index.html) has had an EV in their model range since 2014 and Audi is also in the market. The Audi e-tron collection presents a climate-friendly package with an SUV and sporty edge. [Mercedes-Benz](https://www.mercedes-benz.com.au/passengercars/mercedes-benz-cars/models/eq/eq-brand.html "Luxury Vehicles") launched the EQC last year and adds luxury and its signature style to the sensibility of addressing emissions technology. But probably the biggest news, at least for the top of range, sports car lovers, Porsche is due to release the Taycan in 2020. Check out the [Porsche](https://www.porsche.com/australia/ "Experience the Thrill and Elegance of Porsche") website for all the specs. ### Finance for Climate Friendly Cars Jade Car Loans provides our full range of personal and [business car finance options](/car-loan-products "Product Information For Commercial Vehicle Loans") for electric, petrol, diesel and hybrid vehicles with our signature cheapest interest rate policy. While you’re browsing cars keep our [Business Car Loan Calculator](/car-finance-calculator "Tool to Calculate Business Finance Repayments") open in another browser so you can calculate a rough repayment estimate on each vehicle. Some states offer discounts on rego and other charges for electric vehicles so it could be worth checking out your state motor/transport department for details. **When you’re ready to buy, or even before, give us a call and we’ll provide you with a quote on your new vehicle. Call 1300 000 003** **Categories:** Uncategorised --- ### [Buying Cars in the COVID-19 Era](https://www.jadecarloans.com.au/blog/buying-cars-in-the-covid-19-era) **Published:** May 3, 2020 **Author:** Publisher **Content:** Coronavirus has impacted many aspects of our lives and the way we go about so many aspects of business and our daily schedule. Driving and cars is no exception. With stay at home orders in place, many of us have hardly used our cars in weeks. But as we are being told in the messaging – it’s no time for complacency. We cover off on updates, advice and what’s happening to keep you informed:- - The [NRMA](https://www.nrma.com.au/ "National Roads and Motorists' Association Limited") advised car owners to turn over their engines regularly if they’re not being used regularly. Their roadside service had experienced a spike in call-outs for flat batteries. - Many people have been asking questions around if they are allowed to just ‘go for a drive’. *Ahhhh memories of taking Nana for a Sunday afternoon drive when it was a great source of entertainment!* The responses have differed across states and jurisdictions. You should check the restrictions in your area so you don’t risk a fine. As restrictions start to be eased, it should be much easier to keep your battery and engine running smoothly with regular jaunts. - After weeks, which in many households felt like months, of being told to stay home except for essential purposes, states are gradually easing restrictions. For drivers who have been on the roads throughout, especially in the major cities, they’ve been enjoying a reduction in traffic, making it much faster to get from A to B. But police in some states are reporting an increase in speeding infringements. So be alert to speed limits. Less cars on the road is not a signal to put your foot on the pedal. - Even though many students are engaged in learning from home, school zone speed limits are still in operation during the school terms. - In a media release, the Federal Chamber of Automotive Industries advise motorists to increase hygiene practices in the vehicles to prevent the spread of COVID-19. Recommendations include wiping down high-contact areas with disinfectant wipes, don’t forget the door handles and controls; limit the number of people in your vehicle to observe social distancing rules; take care when refuelling; be careful when cleaning that you don’t damage surfaces with strong chemicals. - Refuelling – the recommendation is to use antiseptic wipes or hand sanitiser after refuelling and using EFTPOS terminals. Before you get back into the car is best to avoid transferring any nasties into your vehicle. - For motor racing enthusiasts the suspension of the Supercars Series is a body blow. But good news –Supercars has pivoted to an e-series which is being televised on the 10 Network. It’s attracting drivers from other classifications including young Grand Prix star Max Verstappen who put in a great performance in his first race. Noting it was on the track where he scored a major GP victory. - Many regional car shows will fall victim to the coronavirus. We browsed online for an update of what has been postponed or cancelled and general information is difficult to source. It appears many [local Car Swap Meets are scheduled for May 2020](https://www.tradeuniquecars.com.au/ "May 2020 Schedule: Dive into Local Car Swap Meets!") but some larger events and Classic Car have been postponed or cancelled. Check your club or local regional contacts for details. - Most of the Caravan, Camping and Outdoor Expos and events have already been cancelled or rescheduled. - Car service centres are still operating so while you don’t have as much use for your car, it could be a good opportunity to bring forward any scheduled servicing and maintenance. Gives you a viable excuse to get out and support your local car service business as well. If you usually utilise their customer lounge, you might like to check if it is currently open. Social distancing regulations will likely mean most are closed so you will have to make alternative arrangements. - Many car dealers and showrooms are moving to a contactless style of operation but are still open for business. Both new and used dealerships are open and auctions have moved online, so there are still plenty of opportunities to purchase a new car. - Many sellers, including new car dealerships, will likely be quite happy to bring the car to your place for a viewing and test drive – just ask! - No more ‘shaking on a car deal’. The Chief Medical Officer, Professor Brendan Murphy has said that many of the physical and social distancing practices that we have had to adapt due to coronavirus may very well be permanent. With changes impacting even the sphere of [business car finance rates](/car-finance-interest-rates "Exploring Competitive Work Vehicle Loan Rates: A Comprehensive Guide"), many other voices are being heard that the traditional handshake may be a thing of the past as people adhere to better hand hygiene. So, in the era of changing norms, what will become of the classic shaking on a new car deal? The challenge is out there – what do you think should replace the handshake when buying a new car? Let us know your ideas. ## Business Car Loans – Business as Usual Jade Car Loans is open for business as usual in sourcing you great car finance for Australia deals. Some banks and lenders have tightened lending guidelines which means having us as your [car loan broker](/car-finance-broker) to navigate your deal through is an even greater advantage. **When you’re ready to buy, or even before, give us a call and we’ll provide you with a quote on your new vehicle. Call 1300 000 003** **Categories:** Uncategorised --- ### [Steering Towards a Cheap Interest Rate Business Car Loan](https://www.jadecarloans.com.au/blog/steering-towards-a-cheap-interest-rate-car-loan) **Published:** May 10, 2020 **Author:** Publisher **Content:** The historic low interest rates have many people thinking about buying a new car. With Commercial vehicle financing becoming more accessible, individuals and businesses are taking advantage of the current situation to upgrade their existing vehicles. Some are looking to change cars to cater for a growing family, for a change in business direction, or to accommodate their expanding ventures. Others might be eyeing a bigger vehicle to be able to take road trips or driving holidays, or simply to enjoy a newer model for general motoring pleasure. Or maybe, during lockdown, you’ve been browsing the car sales websites and now – you are ready to buy. Interest rates do form the foundation and an important part of a car finance deal but they should be considered in context with the entire car loan structure. If you see an advertisement for ‘low-interest rate car loans’ you should be looking beyond the headline to see if high fees are lurking. Refer to our web page on Interest Rates where we cover how rates are priced and what issues you should be considering when comparing interest rates. With the [Reserve Bank flagging that the official cash rate](https://www.rba.gov.au/education/resources/explainers/how-rba-implements-monetary-policy.html "Understanding the Implications of the Reserve Bank's Official Cash Rate Adjustments") will remain low for some time, now is a good time for Jade Car Loans to source you a cheap car loan. At Jade Car Loans, cheap interest rates have always been available and they form the basis of our cheap car loans policy. ### We’re regularly asked how we can consistently achieve our cheap interest rates and cheap car loans so here’s a quick recap on rates and the Jade difference: - We’re accredited with many banks and lenders so we have more choices and more places to mine to unearth the cheapest rates. - We have industry-only contacts that are only available to finance brokers. - We are a major broker in the motor finance sector and as we write a lot of business with the lenders, we have the bargaining power to negotiate lower rates for our customers. - Banks and lenders price their motor vehicle interest rates and their car loans according to how much they are paying for their funding, how they price the motor vehicle lending market, their risk assessment of your application and other factors, some of which are global economic factors. - Interest rates on personal car loans will be higher than for business vehicles, i.e. commercial finance products – that’s just the way the market works! - Interest rates for secured car loans will be lower than for unsecured loans. Using the services of an experienced car loan finance broker with a large lender network offers many benefits and better results in sourcing a cheap interest rate car loan than if you go through the process yourself. ## Taking Full Advantage of Cheap Interest Rates The interest rate is one element of a car loan and yes, low rates certainly offer significant financial benefits. But to take full advantage of low interest rates, you should be focussing on how a cheap car loan can benefit the achievement of your other financial goals. That comes down to having the flexibility to structure your car loan to suit your requirements, not just the bank’s guidelines. ### You can utilise cheap interest rates primarily in one of two strategic ways: - Opt for a lower monthly repayment to preserve your cash flow, or - Go for a higher monthly repayment but reduce the overall loan term. Which is best suited to you will depend on your circumstances and is your decision to make. To a point! If you approach a bank yourself, you may be told what loan terms and conditions you must adhere to. But with your Jade Car Loans consultant working in your best interests and with our close lender contacts, we can offer greater flexibility when it comes to structuring a car loan that suits you. [This is particularly important for business vehicle finance deals as cash flow, depreciation, tax-deductibility and other factors come into play](https://www.ato.gov.au/individuals/income-and-deductions/) and should be considered in consultation with your accountant. ## Sourcing a Cheap Car Loan With our best interest rates policy, Jade Car Loans just has to be the place to source your [Commercial car loan](/ "Find Best Interest Rates For Car Finance Australia Here"). We handle the full range of both [personal car loans](/personal-car-finance "Car Loans For Personal Consumer Use") and [business vehicle finance](/business-car-finance "Commercial Car Finance Where Motor Vehicle Is Used For More Than 50% Business Use"). - New and used car loans - Vehicles purchased privately, at auction, from a dealer. - All types of cars. - Additional services include assistance with the paperwork, REV checks, insurance referrals and other matters. - Pre-approved finance. - Low docs and no docs car loans. Cheap interest rates are a great incentive to buy a new car and a great driver for achieving a cheap car loan. If you’re ready to talk cheap car loans, call Jade Car Loans at **1300 000 003 and have an initial discussion with one of our consultants**. **Categories:** Uncategorised --- ### [COVID-Safe Motoring](https://www.jadecarloans.com.au/blog/covid-safe-motoring) **Published:** May 14, 2020 **Author:** Publisher **Content:** During the coronavirus crisis when we were ordered to stay at home, the major worries around motoring were how far from home and for what purposes we could drive, securing a new commercial car loan, and keeping the car battery charged by regularly turning over the engine. With restrictions eased, we’re emerging into a changed world with impacts on our work life, home life and recreation. With the Chief Medical Officer stating that many of the coronavirus measures will be needed to be continued for some time and some, permanently, how does that affect our driving and motoring lives? How do we engage in [COVID-safe motoring](https://www.qld.gov.au/transport/covid-19-transport "Guidelines for COVID-safe Motoring: Navigating Queensland Roads Responsibly")? According to the experts, no environment can be realistically and conclusively described as ‘safe’, but there are precautions we can take around our cars and driving trips that will create a safer environment for ourselves and our passengers. ## Measures to Consider As have many Australians, we’ve been staying across the Government advice and directives around coronavirus. But we’ve also done some additional deep dives and research to provide our customers with information that may assist individuals in deciding the best practices for their own lives. ### Here’s a few points we’ve sourced for you to consider:- - The [COVIDSafe App](https://www.health.gov.au/resources/apps-and-tools/covidsafe-app "Understanding the COVIDSafe App: A Step towards Healthier Communities") – we’ve all been advised to download this app as it will provide health authorities with a very valuable resource in contact tracing. If you haven’t already downloaded it, it may be a good idea to do so and make sure you have it active when you are out and about and have passengers in your vehicle. - If you regularly give other people rides and lifts in your car, other than members of your own household, take extra precautions and avoid having anyone with COVID-19 or flu-like symptoms into your car. As per the continuing messaging, anyone with these symptoms should seek testing and self-isolate until they receive their test results. - Hand hygiene. This has been central to the messaging and many people have taken to wearing gloves and regularly using hand sanitiser. Having a bottle of hand sanitiser in your vehicle is a great idea and remember to use it when you get back into your car and before you touch say the seat belt or steering wheel. - Hygiene around refuelling and after using ATMs when paying for fuel are particularly important at all times. - Car cleaning. If you do regularly take friends, work mates and others in your car, take special attention to regularly clean surfaces with a disinfectant or a suitable cleaning product for that surface, just in case. - If you are a professional driver – ride-share, taxi, limo, hire car – there will be specific cleaning protocols to govern your industry. Check out [safeworkaustralia.gov.au](http://www.safeworkaustralia.gov.au "Information regarding Safe Work Australia") for tips. - Physical distancing. This is a tricky one if you take passengers other than your own household in your vehicle. There are scenes of passengers riding in the back seat which could be a good idea. Look out for advice on government and motoring body websites around this issue as we have not sourced any specific information. Keeping a 1.5m distance from a passenger in a small to medium car is more of an impossibility than a challenge. If you’re worried about your own health, perhaps rethink offering people a lift. - Buying a car. As a result of the COVID-19 crisis, car auctions went online, car dealers moved to a contactless sale process and some new car dealers also moved to online sales. The motor industry will no doubt be working to create COVID-safe workplaces for both their staff and customers so you will be seeing changes when you visit a car dealer. - Car servicing. Car service, repair and maintenance services have continued through the crisis but with measures implemented as directed. When getting your car serviced, you may like to ask if the customer lounge is still open and if there are any changes around courtesy cars and providing rides to local train stations and transport. Many car shows and motoring events have been postponed and cancelled and future events will likely have a whole different look. #### Sourcing a Car Loan or Motor Vehicle Finance At Jade Car Loans, we continue our [business car loan brokers](/car-finance-broker "Unlocking Better Deals: Expertise of Business Car Loan Brokers") service with ‘business as usual’ as we offer a contactless service to our customers and have implemented measures to provide a safe workplace for our team. During these unprecedented times, securing a favourable [business car loan interest rate](https://compare.jadecarloans.com.au/business-car-finance-interest-rates/ "Explore Competitive Business Car Loan Interest Rates Today") becomes even more crucial. While we still need to buy new cars, upgrade our vehicles, and add to our fleets, our Jade Car Loans consultants are on hand to discuss your car finance requirements and guide you to the best rates available. **If you’re ready to talk for [business car finances](/ "Vehicle Loan for Commercial Use"), contact Jade Car Loans at 1300 000 003 for a discussion with one of our consultants**. **Categories:** Uncategorised --- ### [Crushing the COVID-19 Commute](https://www.jadecarloans.com.au/blog/crushing-the-covid-19-commute) **Published:** May 27, 2020 **Author:** Publisher **Content:** With the COVID-19 curve flattening and restrictions being eased, new effects of coronavirus are beginning to emerge as we have to come to terms with the new normal. The social distancing rules combined with the capacity ruling of 4 sq m per person is now having an impact on public transport. During the height of the crisis, when everyone was in lockdown and most working from home, public transport was extremely under-patronised. But as schools reopen and the workforce returns to offices and other places of business, transport authorities are having to put measures in place to deal with social distancing. Trains, buses, trams and ferries will all have capacity significantly reduced for some time. For those who count on public transport to get to work and generally get around, this may pose serious problems. The NSW Premier was one of the first state leaders to come out and publicly ask people not to use public transport in peak times. She encouraged people to walk, bike or drive! ### Reimagining Commuting Solutions Yes, drive! After decades of being encouraged to use public transport to take congestion off the roads and reduce carbon emissions, we’re now being told to get back into our cars. Extra parking arrangements are being made close to the main CBDS to cater for the influx in some cities. But this poses a big problem if you don’t own a car. In recent times, many people have ditched car ownership in favour of public transport, ride-sharing and using shared car services when they need a car. But with more people having to find alternatives to public transport, one would expect demand will be at a premium for shared services. If that sounds like you and you don’t own a car, then it may be time to buy a car so you can crush your post-pandemic commute. If your car needs an upgrade or is not fuel-efficient enough to be economical for a daily drive to work every day, could be time to consider buying a new vehicle. We take a quick look at what’s available in the small car market and how to finance your purchase. ## Cars for Commuting The good news for those buying a car is that car sales have been down so dealers, especially in the new car market, will be keen to sell, sell, sell. Add to that the extra sweetener that we are approaching the end of the financial year sale time and the scenario is shaping as looking good for you to get a great deal. If you’re primarily buying a car for commuting, then a small car is probably in your sights. This is by far the most popular vehicle market in Australia and there are quite a few makes and models to consider. In the under $40K range, the [Hyundai i30](https://www.hyundai.com/au/en/cars/small-cars/i30 "Explore small Hyundai Cars"), [Toyota Corolla](https://www.toyota.com.au/corolla/hatch "Explore Toyota Vehicle"), [Mazda 3](https://www.mazda.com.au/cars/mazda3/ "Popular Mazda Model") and [Volkswagen Golf](https://www.volkswagen.com.au/en/models/golf.html "Discover the Iconic Volkswagen Golf Experience") are very popular. In the lower budget range, say under $20K have a look at the range of Suzuki and Kia models and the [Toyota Yaris](https://www.toyota.com.au/yaris "Explore the Dynamic World of Toyota Yaris"). ### European Flair and Upscale Choices For a more stylish car in town, Fiat, Renault and Peugeot have that European flair and the Mini Cooper is especially great for making the most of small parking spaces with a funky edge. Most models in the small car range feature a handy hatchback design which makes them ideal for stowing the shopping or the luggage for that weekend away. If you want to take it up a notch but still stay in the small size range, visit your local Audi or BMW dealer and test drive their small car collections. Small cars, especially when utilized for [small business car finance](/business-car-finance "Unlocking Opportunities with Small Business Car Finance Solutions"), can do a lot of kilometres. So if you’re buying second-hand, make sure you get a mechanic to give you an assessment of any work that may need to be done now or shortly. While you have some warranty coverage under consumer law with both dealer and private sales, not all mechanical work would be included. ### Cheap Car Loans While you’re likely to find some great purchase deals on new cars, you can also find a great deal on a car loan. Jade Car Loans specialises in [cheap commercial car loans](/ "Affordable Solutions for Commercial Car Financing") and we’re ready to make you a great offer. As a [car loan broker](/car-finance-broker "Finance Broker Australia"), we are accredited with multiple banks and lenders so we have access to a greater choice of lenders than if you source your loan, which can be a challenge. While banks have been under pressure during the COVID-19 crisis and some have tightened lending guidelines for some loans, we have contacts with lenders that are offering great deals on motor vehicle finance. Your Jade consultant will discuss your requirements, assist you with our [business car loan calculator](/car-finance-calculator "Optimise Your Budget: Try the Business Car Loan Calculator"), and source you a quote. On acceptance, we’ll handle the paperwork to save you time and get you behind the wheel as quickly as possible. **So if you want to avoid the hassles that public transport may pose due to coronavirus and get behind your own wheel, give us a call and discuss your requirements with one of our Jade Car Loans consultants. Call 1300 000 003** **Categories:** Uncategorised --- ### [Staying Ahead of the Car Buying Curve](https://www.jadecarloans.com.au/blog/staying-ahead-of-the-car-buying-curve) **Published:** May 27, 2020 **Author:** Publisher **Content:** Buying a car is a very exciting prospect but it can come with stressful times as you deal with all the decisions to be made. Both new and used [car dealers](https://carsales.com.au/cars/dealer/ "Trusted Car Dealers: Your Gateway to Quality Vehicles") are usually extremely professional but they are keen to sell cars, so they will likely be tempting you with extras and specials – if you sign now! Even [private sellers](https://www.carsales.com.au/cars/private/ "Direct Deals: Browse Authentic Private Sellers Listings") can put pressure on buyers, especially if they need a quick sale. All this pressure when you are making a major purchase and should be taking time to consider the options and make informed decisions. It’s not uncommon for people to make quick car buying decisions only to discover when they start looking for a car loan that the repayments are way more than they expected. Or they may find they have trouble getting a good deal on a car loan and are forced to commit to a more expensive loan so they can honour their commitment to the seller. The car purchasing process doesn’t have to be like that. You can stay ahead of the curve and even turn the pressure back on the seller to negotiate a cheaper price. Here are a few tips to keep you ahead of that curve and reduce some of the seller pressure. ## Use a Car Loan Calculator You’ll likely be browsing online to choose your car before you head out for the inspection and test drive. In the used car market, the prices are usually clearly displayed in the advert so you know what the car will cost to buy. With new cars, the price is usually for the basic model or states ‘from $xxxxx plus on-road costs or delivery charges’. These ‘on-road’ or ‘delivery’ charges can be a bit of an unknown, so be aware that the price will be more than the figure you are eyeing. The purchase price is one thing. What is probably more important to you is what it is going to cost you in repayments each month. That’s the real clincher for most people. We’ve made that easy to estimate with our [commercial car loan repayment](/car-finance-calculator). You’ll find it on our website and it’s a good idea to keep this page open in another web tab while you’re browsing the cars for sale. ### Making Informed Decisions with Repayment Estimates It’s free and very easy to use. The layout is a standard online format with fields where you enter your data. In this case, the amounts of the cars you’re considering. First, you enter the amount of your loan. Most people will just put in the purchase price of the car, but if buying a new one, you’ll need to have extra to cover those on-road costs. If you’re trading in your current vehicle, you could deduct the amount of what you hope to get for it. Then you enter how many months/years you want to pay off the loan. There is a maximum for some car loan types, usually 5 years/60 months. The longer the loan term the lower the monthly repayment but the longer it will take for you to pay out the loan and vice versa. Then enter the [business car loan interest rates](/car-finance-interest-rates) that we are currently displaying. Note that personal car loans and business motor vehicle finance have different interest rates. Once you’ve entered all that information, you click calculate and an estimate of the monthly repayment for that data is displayed. We stress ‘estimate’ as this is a generic device and can’t predict any fees the lender may charge or any specifics around your particular application. It’s also not an indication of a quote or that your application is approved. Read the disclaimer for details. ### Maximizing Your Purchase: Leveraging the Calculator’s Insights But what it does do, is give you a good indication of how that purchase price converts to monthly payments. This level of knowledge can put you in the box seat when negotiating with the seller. It can help you clarify your thoughts by knowing your limits and help you decide if you can afford those extras that are on offer. If deciding between a few different vehicles, you can use the calculator for as many as you like – might help you cull the list down and save you time going for a test drive. ### Pre-Approved Cheap Car Loans Having that estimate in your car-buying toolbox is one thing, but why not take it to the next level and get your loan sorted before you start talking to sellers? Yes, that is possible. Your Jade Car Loans consultant can arrange our signature cheap car loan before you have committed to purchase. And having pre-approved finance is not an obligation to proceed. If you change your mind and don’t want to buy that car, not a problem. Pre-approved finance is a straightforward process at Jade Car Loans, especially for those looking into a [sole trader car loan](/abn-car-loan "Sole Trader Car Financing: Empowering Your Business Mobility"). We organise you a cheap car loan quote based on the estimated price of the car you are considering before you ‘buy’ rather than after. The same processes are involved as when you apply for a car loan after you’ve effectively ‘bought’ or committed. Our same cheap interest rates apply and our consultants follow the same rigorous process to source you the best car loan possible. Knowing your loan is approved and ready to finalise puts you in the negotiating box seat with the seller. Make a lower offer with the guarantee that you can settle quickly. Pre-approved loans are available for both personal and [business vehicle finance](/business-car-finance) on new and used cars. **So if you want to stay ahead of the buying curve, give us a call and discuss a pre-approved car loan with one of our Jade Car Loans consultants. Call 1300 000 003** **Categories:** Uncategorised --- ### [American Car Company](https://www.jadecarloans.com.au/blog/american-car-company) **Published:** June 5, 2020 **Author:** Publisher **Content:** US-made pick-up trucks, muscle cars and performance vehicles are in a class of their own and for purchasing one in Australia, you can’t go past the [American Car Company](https://americancarcompany.com.au/ "Discover Iconic US Vehicles with American Car Company"), based in south-east Queensland. American Car Company sells both new and used US-made special vehicles and carries out the full conversion to right-hand drive so you can drive your vehicle in Australia. They carry out the full conversion for very popular Chevy Silverado, GMC Sierra Denali, Ford ‘F’ Series trucks, Nissan Titan, Toyota Tundra, Ram series, [Chevy Camaro](https://www.chevrolet.com/performance/camaro "Exploring Chevrolet Vehicle"), Dodge Challenger Hellcat, the classic Shelby Super Snake and the Dodge Challenger Demon. The team at American Car Company has been involved in the automotive industry for a very long time and across many facets of the sectors. So they know cars and they especially know how right-hand conversions. ## The Importance of Compliant Conversions They stress the importance of understanding what a ‘full conversion’ really means as you must choose only specialists, such as American Car Company, to carry out your conversion. The full conversion means that the steering box is moved to the right side of the vehicle. All conversions meet the [ISO9001 quality standards](https://asq.org/quality-resources/iso-9001 "Diving Deep into ISO9001 Quality Standards: A Comprehensive Guide") and are covered by a significant 24-month warranty plus an additional mechanical warranty. If you’re considering a right-hand conversion, you need to understand what is and is not compliant. Some companies carry out a South-Paw or Cross-Shaft Conversion which can comply with Australian Design Rules but is no longer allowed for passenger vehicles. These types of conversions are not the full conversion that American Car Company specialises in. It’s worth reading the detailed information regarding conversions, compliance and government regulations at American Car Company. American Car Company offer quality vehicles with new cars arriving in stock each week, so it’s worth keeping in touch so you’re first to know when your dream machine lands. ## Jade Car Loans: Elevating the Experience Head to their website to check out the available ABN car loan options right now, or contact the team to discuss what you are looking for. The business is located in Upper Coomera, on Queensland’s Gold Coast. However, if you’re located in another state – that’s not an issue. If you’re flying in to inspect or take delivery of your vehicle with an [ABN car loan](/abn-car-loan "Explore Affordable ABN Car Loan Options"), you’ll be collected at the airport. If you require transport of your vehicle to another state – no problem, that can easily be arranged. Many people dream of owning an American classic – a muscle car, a performance car or an iconic pick-up. American Car Company can make your dream a reality with a great price, a fully compliant conversion and exceptional service. And [Affordable Car Loans](/ "Unlocking Your Dream Ride: Affordable Car Loans Explained") can sweeten the deal with an exceptional car finance deal. Whether you’re buying for personal or business purposes, we can source you the [Commercial Vehicle interest rates](/car-finance-interest-rates "Check Out Competitive Commercial Vehicle Interest Rates"). **To discuss a loan on a US-made vehicle from American Car Company, contact Jade Car Loans at 1300 000 003.** **Categories:** Uncategorised --- ### [Be Savvy: Fees, Interest & Other Personal Car Buying Costs](https://www.jadecarloans.com.au/blog/be-savvy-fees-interest-other-personal-car-buying-costs) **Published:** June 11, 2020 **Author:** Publisher **Content:** End of financial year, start of financial year, tax time, budget time – no matter the time of year, it’s always the right time to upskill your financial knowledge if you’re buying a car. It’s an exciting experience and it’s easy to get carried away in the emotion or get caught up in the seller’s hype and lose sight of some of the basic realities of the situation. At [Jade Car Loans](/ "Vehicle loan brokers"), we’re committed to educating our customers on as many aspects of the process as possible to instil confidence through knowledge. As always, this information is provided as general information only and should you feel you require advice specific to your circumstances, we advise you to consult with a financial advisor. In this article, we’re explaining some of the fees, charges, costs and other terms and expenses that you may come across, both in regards to the car purchase and when working with your Jade Car Loans consultant in arranging your car loan. There are differences between [personal car financing](/personal-car-finance) and [business car loans](/business-car-finance). In this blog, we’re looking specifically at consumer car loans, i.e. cars purchased for private use. ## Car Loan Elements When organising a car loan you have the principal which is the amount you want to borrow, the interest charged on the loan and several other fees. Individual lenders vary in the amounts of these fees so we can’t quote specific figures. When sourcing your car loan offer, your Jade consultant will be negotiating not only the [cheapest interest rate](/car-finance-interest-rates) but also the best deal concerning all other charges. If you are sourcing loan quotes yourself, make sure you ask for an itemised quote so you can see what fees are included. - Interest: We refer you to our webpage on comparing interest rates and comparison interest rates for a full explainer on actual interest rates. Regarding how the interest rate is charged on consumer loans, it is based on the [Consumer Credit Code Act](https://www.legislation.gov.au/Details/C2020C00105). This requires that interest must be calculated at a daily rate on the daily balance and charged to the loan monthly. - Loan Establishment Fee: Most lenders will charge a fee for establishing your loan. This is standard practice and often referred to as a Loan Application fee. - Monthly Fees: A monthly service fee may be charged by the lender and factored into your repayments. - Default/Missed Payment Charges: If you miss a payment or ‘default’ the lender has the option to charge a fee. - Break Fees: This is the fee charged if you pay out your loan before the end of the loan term. For [Secured Personal Car Loans](/secured-car-loans), the break fees are minimal. On Unsecured Loans there are usually no break fees. - Other fees: Usually the above are all that would be included in a standard personal car loan contract. However, it is always advisable to read the terms and conditions of your loan contract and check the quote to ensure there are no hidden charges. Using a [finance broker – Jade Car Loans](/car-finance-broker) – means we are working in your best interests to source you the best car loan and your consultant will explain all the elements of your loan. If you are sourcing your loan yourself, it is your responsibility to understand what you are signing up for. ## Car Purchase Costs When buying a car, whether new or second-hand, there will likely be additional charges above the advertised price. Here’s a quick rundown of a few to consider: - [Stamp duty](https://www.qld.gov.au/transport/registration/fees/duty/calculator "Understand Stamp Duty: Calculate Your Costs Here"): usually payable on new cars and may vary from state to state. - Dealer delivery charges/on-road costs: This phrase always accompanies the price advertised for new cars and covers the dealer’s costs to prepare your car for delivery. They can be significant and you should check all costs when they provide you with a written quote. Used cars purchased through a dealer may not include such costs. These costs are not applicable when buying a used car from a private seller. - Registration: When buying a new car it has to be registered and this is charged by the dealer on top of the advertised purchase price. Rego is a state-based charge and varies from state to state. You should be able to check your state transport department for rego costs. If buying a used car you will have to pay to transfer the registration from the seller to yourself. - Auction costs: If buying a vehicle at auction the auction houses charge a fee on top of your winning bid price. The auction house should display their fees on the website. - Insurance: There are 2 types of insurance – Compulsory Third third-party insurance (known as a green slip in some states) which covers any damage your vehicle does to other people, but not yourself. This is compulsory and varies on the price of the car and from insurer to insurer. Comprehensive Insurance is a full insurance policy and the cost will vary from insurer to insurer so it is worth getting quotes. If you have a car loan, the lender will likely require you to take out a Comprehensive Insurance Policy. - Accessories insurance: Often a car dealership may encourage you to take out additional policies such as tyre and rim protection policies. We advise you to read up on these as many consumer authorities including the [Australian Government Moneysmart](https://moneysmart.gov.au/ "Enhance Your Financial Knowledge with Australian Government Moneysmart") website advise that these are not value for money. ## What costs are included in your car loan repayments? When your Jade consultant provides you with a quote for your car loan it will have taken into account the amount you want to borrow (price of the car), interest, loan establishment fees and any other fees charged by the lender. In most cases, the dealer delivery/on-road costs, if buying a new car, will be included in your vehicle price. When it comes to registration, if you are buying from a dealer or considering a [no doc car loan](/no-docs-car-loans-for-business-vehicles "Flexible No Doc Car Loans for Business Vehicles"), they will usually handle the registration and CTP and include it in your purchase price, which means it is included in your car loan. But that also means you will be paying interest on those elements. You may choose to pay for those items separately, thus reducing the loan amount and avoiding paying interest on those amounts. For more information on fees, charges, interest and other costs, please read articles in our resource library and our web pages. To discuss a cheap personal car loan, call Jade Car Loans at **1300 000 003 and speak with one of our consultants.** **Categories:** Uncategorised --- ### [EOFY & SOFY Business Car Deals: Toyota Small-Medium Range](https://www.jadecarloans.com.au/blog/eofy-sofy-business-car-deals-toyota-small-medium-range) **Published:** June 11, 2020 **Author:** Publisher **Content:** Astute business owners know that EOFY (end of financial year) and SOFY (start of financial year) are the prime times to get in for great car deals and structure a motor vehicle finance deal to benefit tax-wise. If you didn’t take advantage of the [Australian Government COVID-19 Instant Asset Write-Off](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Instant Asset Write-Off for COVID-19 by the Australian Government") stimulus package, then now may be a great time to purchase a new business vehicle. We’re taking a browse around some of the most popular motor vehicle brands to see what’s on offer, starting with Toyota small to medium passenger vehicles. Toyota is one of the most popular car manufacturers with Australian buyers due to their reliability, affordability and widespread availability of dealers and service centres. The popular vehicles in the Toyota small to medium range include the zippy and economical Yaris and everyone’s ‘first car favourite’ the Corolla. And coming soon – the Yaris Cross Hybrid – more on that in future blogs. ## Toyota Yaris If you’re a city-based business then a major priority when choosing a new car is – parking! The bane of many city motorists and an absolute pain for a lot of business operators who need to get around town quickly. For business owners that need a reliable small vehicle for local errands, getting around the city and suburbs for meetings and possibly small deliveries, the Yaris could be worth considering. The [Yaris Ascent](https://www.toyota.com.au/yaris) looks the part with sporty and stylish lines is a dream to fit into those ‘hurrah I found one’ small parking spaces and includes a heap of functional and high-tech features that may surprise you. It may be classified as a small car, but inside there is a load of space for passengers and loads. The hatch opens wide and the flexible 60/40 back seat configuration allows plenty of space to load up your stock and customer deliveries. Driveability is enhanced with the integrated steering wheel console which places many of your controls at the fingertips. The different models in the Yaris range – SX, ZR – include different selections of options so check out what you want to decide the ideal Yaris for your needs. Small doesn’t mean skimpy on safety with Toyota. Yaris has the highest 5-star ANCAP safety rating with 7 airbags, a reversing camera and advanced braking available. One of the biggest decision – which colour? Toyota offers a large number of colour choices so you can match your car to your business logo and let your local signage specialist design a great wrap to promote your business. ## Toyota Corolla The [Corolla is a staple in the Toyota range dating back decades](https://www.toyota.com.au/corolla). Once, and still, considered the perfect ‘first car’ for new drivers, the Corolla has matured to become equally fun and young for the weekends yet sedate and stylish for business types. Available in both sedan and hatch, the Toyota Corolla ticks a lot of boxes for business owners wanting a vehicle to cover all their business requirements yet still be their go-to vehicle for the family’s weekend demands. The sedan has a longer wheelbase than the hatch to provide more legroom for passengers and create a very stylish look which creates a more upmarket appearance than its price tag would suggest. It’s packed with tech with touchscreen multimedia and keyless entry available on some models. You have a choice of the 1.8L hybrid engine or the 2.0L 16-valve petrol version. As you would expect from Toyota, safety is paramount and the Corolla Sedan is equipped with the latest safety features including speed limit warnings, 7 airbags, lane assist controls and many more. The Hatch is a classic! An award-winner with the smart tech, hybrid and petrol engine options, sporty looks practicality and functionality to the max. Many businesses have pivoted to customer deliveries and the Corolla Hatch is the ideal vehicle for those that have relatively small orders to deliver. The hatch opens wide for easy loading of your business orders during the week and your toys and sporting gear on weekends. ## Business Car Finance Deals To capture a great EOFY Toyota deal, [check out what’s on offer](http://www.toyota.com.au "Toyota Products") or call your local Toyota dealer for a test drive. While some companies wait for EOFY to offer their best deals of the year, at [Jade Car Loans](/) we offer our best car finance deals year-round. Before talking to a Toyota dealer, give Jade Car Loans a call and talk to one of our consultants about pre-approved finance. As major players in the motor vehicle finance sector, we offer the full range of commercial loan products including but not limited to [hire purchase cars](/commercial-hire-purchase "Explore Flexible Minimal Documentation Business Vehicle Financing"), [low doc car loan](/low-docs-car-loans-for-business-vehicles "Explore Flexible Minimal Documentation Business Vehicle Financing") and [no doc car loans](/no-docs-car-loans-for-business-vehicles "Explore Flexible Minimal Documentation Business Vehicle Financing"). Check out our web pages for the details and have a chat with your accountant as to which is the most appropriate finance for your business structure. **No need to wait for EOFY or SOFY for a great car finance deal. Call Jade Car Loans year-round for the cheapest business car finance. Call 1300 000 003** **Categories:** Uncategorised --- ### [Lender Regulations: What You Need to Know About Consumer Car Lenders.](https://www.jadecarloans.com.au/blog/lender-regulations-what-you-need-to-know-about-consumer-car-lenders) **Published:** June 15, 2020 **Author:** Publisher **Content:** As part of our educational series, this article addresses the legislation, regulations and obligations around responsible lending regarding consumer finance. This information is provided to ensure you are well-informed about the car loan process and the obligations are in place to safeguard consumers. At [Jade Car Loans](/) we are driven to assist our customers by sourcing them the best car loan possible and making the entire process as easy and streamlined as possible. Some customers may think we ask a lot of questions, request a lot of information and provide a lot of information and paperwork. But customers need to be aware that this is not only our consultants being thorough but the process that we are required to undertake under the law. Specifically, as a credit licensee, that is we are licenced as a finance broker, we must comply with the responsible lending conduct and obligations as set out in the relevant section of the [National Consumer Credit Protection Act 2009](https://www.legislation.gov.au/Details/C2017C00196 "Explore the National Consumer Credit Protection Act 2009"). This area of law is regulated by [ASIC – the Australian Securities and Investment Commission](https://asic.gov.au/ "Learn More about ASIC – the Australian Securities and Investment Commission") and in 2019 legislation was enacted to strengthen the penalties for misconduct under these regulations. When applying for a loan to buy a car for your personal use, i.e. a consumer car loan, you should be aware of the lender regulations. To assist you in understanding your rights and how your Jade broker must act in handling your car loan, we are providing this comprehensive article on Responsible Lending Guidelines. ## The Role of ASIC An independent Government body, ASIC is the regulator of financial services, consumer credit, corporate activities and financial markets in Australia. Regarding consumer credit, i.e. car loans, ASIC administers the National Consumer Credit Protection Act, which includes setting the guidelines that lenders such as Jade and the banks and financial institutions must follow when offering loans to individuals. ASIC establishes the responsible lending guidelines and applies penalties for misconduct. So your Jade Car Loans broker is working under strict laws at each stage of your car loan process. ## Responsible Lender Guidelines All persons and businesses that offer consumer lending services must be licenced under ASIC and are referred to as ’credit licensees’ in the regulatory documents. That includes banks, finance companies and finance brokers like Jade. For your information, our Australian credit licence number, 484387, is well-displayed on all our material which is required by law. ASIC has established the guidelines that lenders such as Jade must follow. A critical part of those regulations is that we must comply with the responsible lending conduct obligations that are set out in the Act. Part of those obligations involves establishing our operational procedures to ensure we meet these obligations. All credit licensees are required to comply with these obligations and the key to that is that a [licensee must not enter into a credit contract](http://classic.austlii.edu.au/au/legis/cth/consol_act/nccpa2009377/s133cc.html "Prohibition on Licensee Entering into a Credit Contract"), i.e. offer a car loan to a consumer; suggest any credit contract; or even assist a person in applying for such a contract, in this case the contract being a car loan contract, if the contract is unsuitable for that consumer. In simple terms, under the law, Jade Car Loans cannot offer you a car loan that is not suitable for you. So that raises the next issue in the lender guidelines – how credit licensees, in this case Jade Car Loans, implement processes to ensure compliance with the obligations. In simpler terms, we have to have our strict practices in place to ensure that we have covered all issues to ensure the loan offer we make to you is suitable for your financial situation. ## Lender Obligations ASIC set out specific obligations that Jade and all credit licensees must follow regarding essentially two sides of the consumer car loan application process: 1. Establishing, implementing and adhering to a set of practices and protocols for checking and verifying a customer’s financial situation and assessing the suitability of a specific car loan for that person. 2. Disclosure: the obligation to provide customers with certain documents and information to ensure they understand both the services we provide and the details of the loan contract being offered. By being aware of our obligations as responsible lenders, you will hopefully gain a better understanding of the car loan application process and why our consultants work so diligently in sourcing the loan that is best suited to your specific requirements. We elaborate on both these points for you. ## Meeting our Responsible Lender Obligations To ensure that Jade Car Loans meets its [obligations as a responsible lender of consumer finance](https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-342mr-asic-updates-responsible-lending-guidance/ "Understanding Your Responsibilities as a Responsible Lender of Consumer Finance"), we have developed and implemented a Responsible Lending Flow Sheet. This is a detailed, step-by-step process that our consultants must strictly adhere to when discussing a consumer car loan with one of our customers. ### Jade’s Responsible Lending Protocols - Consultants must provide a copy of the Credit Guide to every customer they have discussed finance with. To meet our strict internal procedures, our consultants must retain records of the credit guide sent to customers as confirmation. - Credit quotes must be signed if a DOF is proposed and this is included in the application submission. - Privacy statements must be signed by the applicant. This is our confirmation that we have advised you of the issues around sharing your information with lenders to secure you a car loan quote or offer. - [Detailed Credit Check](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Exploring the Importance of a Detailed Credit Check") which includes: verifying address history; checking credit scores and credit history; and directorship history. - Check of Financial Capacity which includes verifying the information of your financial situation that you have provided to us. - Check of living expenses is conducted verbally so the consultant can confirm all living expenses have been included. A copy is sent to the customer to confirm both the expenses discussed and that the discussion and this step were completed. - Consultant then completes a ‘Pre Lim’ which is a document that establishes that the consultant is reviewing the needs of the customer. - A Credit Proposal is then sent to the customer. This proposal details how the consultant is proceeding with the application or enquiry, the total loan amount involved, the proposed repayment schedule and other details about the proposed car loan. - If a balloon is requested with the car loan, the consultant will discuss how the customer intends to finalise this balloon payment when due. - Throughout every stage and every process, the consultant will retain complete notes including the date and the timeline of all interactions with the customer. ### Securing a cheap car loan We have put these steps and processes in place, including utilising our [business car loan calculator](/car-finance-calculator "Calculate Your Work Vehicle Financing with Our Handy Calculator"), to ensure Jade Car Loans meets its responsible lender obligations, which in turn ensures the best interests of our customers are being addressed. Addressed in an ethical, responsible, and lawful manner. ## Disclosure Obligations The specific documents, i.e. information, which we are required to provide for [sole trader car loan](/car-chattel-mortgage "Unlocking Car Financing Options: Sole Trader Car Loan Insights") business car loans are detailed in ASIC’s Responsible Lending Disclosure Obligations. These documents are intended to provide customers with information that will enable them to understand the credit activities that are provided by Jade Car Loans. The specific documents, i.e. information, which we are required to provide for car loans are detailed in ASIC’s Responsible Lending Disclosure Obligations. These documents are intended to provide customers with information that will enable them to understand the credit activities that are provided by Jade Car Loans. In addition, the information provided under the disclosure obligations is provided to help customers understand their consumer rights, understand the contracts and offers being made to them and assist in making their own decisions. Under these regulations, Jade Car Loans is required to disclose (provide to you) the following information and documentation: - Credit Guide: This is general and preliminary information about consumer credit. - Quote of services: A quote of the fees and costs of services that the credit licensee intends to charge must be provided to the customers. The customer must accept this quote with their signature and date. - Proposal Document: This document provides customers with the costs of the services including any commissions received by the credit licensee. - Written Assessment: This assessment states that a credit contract, in this case a car loan, is not suitable for a customer. ### The Jade Commitment As a credit licensee, Jade Car Loans not only commits to comply with the responsible lender regulations as required by ASIC but we make our ethically-based commitment to always act in the best interests of our customers. All banks, lenders, and brokers operating in the consumer finance sector, including those providing [business vehicle loans](/business-car-finance "Explore Flexible Commercial Vehicle Finance Options for Your Company"), must comply with the ASIC regulations, and if they don’t, significant penalties apply. If you are dealing with other companies and lenders in sourcing your car finance, you now have the information so you can check that they too comply with all aspects of the Responsible Lending Guidelines. For more information and to read the full details of ASIC rulings around credit licensees go to [ASIC responsible lending](https://asic.gov.au/regulatory-resources/credit/responsible-lending/ "Understanding ASIC Responsible Lending Guidelines"). **If you have any questions about any aspects of consumer finance, please contact Jade Car Loans and one of our consultants will assist you. Call 1300 000 003** **Categories:** Uncategorised --- ### [NEWS: Instant Asset Write Off – EXTENDED!](https://www.jadecarloans.com.au/blog/news-instant-asset-write-off-extended) **Published:** June 16, 2020 **Author:** Publisher **Content:** If you’ve put off your decision to purchase new business vehicles because you were not in a position to take advantage of the[ Instant Asset Write-Off initiative](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Harnessing the Benefits of the Instant Asset Write-Off Initiative") (IAWO) by the 30 June 2020 deadline, think again. The measure has been extended to 31 December 2020. The Instant Asset Write-Off initiative was a key component of the [initial coronavirus stimulus package for businesses](https://treasury.gov.au/coronavirus/businesses "Navigating the Initial Coronavirus Stimulus Package for Businesses") announced by the Australian Government in March. We covered the issue in detail at that time but we’ll now recap the details and explain how the extended timeframe can benefit an estimated 3.5 million businesses. ## IAWO: Pre, During and Post Pandemic Before COVID-19 came to dominate our lives, under the tax regulations, the threshold to write-off, i.e. claim a tax deduction, on the purchase of business vehicles was limited to $30,000. To stimulate the economy and provide incentives for businesses to invest, as part of the stimulus package for businesses announced in March 2020, [the threshold was increased to $150,000 for businesses with an annual turnover of up to $500 million](https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business "Eased Financial Thresholds: Support for Businesses with Increased Annual Turnover"). The deadline for this measure was that the asset had to be in operation by 30 June 2020. The measure was reasonably well-received at the time, but as the coronavirus pandemic grew, the reality of how many businesses would be in a position to take advantage of it, became starkly obvious. Tighter COVID-19 restrictions were put into place across the country to limit the spread of the virus and many businesses were forced to close for initially, an unknown length of time. In addition to those forced to close, many others closed voluntarily or experienced a serious downturn in turnover as the majority of the population was ordered to ‘stay home’. During these challenging times, some businesses sought support through options such as a [business car loan](/business-car-finance "Fuel Your Commercial Growth with Work Vehicle Financing") to manage their expenses and adapt to the changing circumstances. In that type of trading situation, many businesses were simply not in a position to make any investments in business vehicles and many were reluctant to do so before the deadline of 30 June 2020. The assets, ie vehicles had to be purchased by 30 June 2020. As restrictions began to be lifted in early June, some many months earlier than originally anticipated, businesses were clearly in a better position to resume their business investment plans but had missed the chance to have purchases in place by 30 June. ## Extension News Recognising this situation, on 9 June the Government announced an extension of the IAWO to 31 December 2020. This means that businesses will need to purchase business vehicles, either new or second hand, and have them in operation in the business by 31 December 2020 to be eligible to claim the tax deductions. The Treasurer, [Josh Frydenberg](https://twitter.com/JoshFrydenberg) and Senator [Michaelia Cash](https://twitter.com/senatorcash), the Minister for Employment, jointly issued a statement saying this extension would allow businesses the extra time to purchase and install the assets and improve their cash flow by bringing forward tax deductions. According to the pair, the measure is designed to support businesses to stick with their investment plans and support the economy. ## What IAWO Means for Your Business For a start, if you’d put your plans to buy new cars for your business on the back burner, it could be an idea to put those plans on the hot plate! Effectively you have until 31 December to purchase the cars and have them in your business. But there is another reason to accelerate the process – EOFY sales. Many [car dealers have end of financial year sales running through June and July](/blog/eofy-sofy-business-car-deals-toyota-small-medium-range "Explore Exciting EOFY & SOFY Business Car Deals in June and July") so you could score a great deal on the purchase price plus have the benefit of the asset tax deduction. This initiative only applies to business car buyers, not consumers. The IAWO measure applies to individual assets. That means businesses can purchase several vehicles to claim on, as long as they are valued under $150,000 to be eligible for the IAWO. [The original fact sheet issued by the Treasury in March details some case study examples](https://treasury.gov.au/sites/default/files/2020-04/Fact_Sheet-Delivering_support_for_business_investment.pdf "Illustrative Case Studies: Insights from the Original Treasury Fact Sheet (March)") that may assist you in better understanding how your business can benefit from IAWO. Just swap out the deadline of 30 June to 31 December. We are waiting on the relevant legislative changes for the release of an updated fact sheet to post. ### Sourcing the Right Car Finance Deal Regarding finance, Jade Car Loans offers the full range of commercial finance products for business vehicle purchases, including competitive [business car loan rates](/car-finance-interest-rates "Exploring Competitive Commercial Vehicle Finance Rates: Find Your Ideal Financing"). As detailed on our web pages, each offers a range of benefits to different business structures and objectives. We advise you to consult with your accountant as to which finance type is best suited to your business, then speak with one of our consultants for a quote. You’ll be keen to move fast to take advantage of both IAWO and EOFY and [Jade Car Loans](/), as experienced [car finance brokers](/car-finance-broker), are well-placed to offer fast car finance approvals and expedite the entire loan process. **To discuss the options for your car finance requirements contact us on 1300 000 003 to speak with a Jade Car Loans consultant.** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Second Chance Car Loans](https://www.jadecarloans.com.au/blog/second-chance-car-loans) **Published:** June 22, 2020 **Author:** Publisher **Content:** A recently published article in the mainstream media has prompted us to reach out to both individuals and businesses who have been rejected for car finance in recent months with the invitation to contact [Jade Car Loans](https://www.jadecarloans.com.au/ "Discover Jade Car Loans: Your Path to Affordable Car Financing") to see how we can assist. The article related to new car dealers and automotive industry spokespeople expressing their views and (in our words) frustration that dealers found a loss in sales during the past few months of the coronavirus scenario, as some [new car buyers were having their loan applications rejected](/blog/buying-cars-in-the-covid-19-era "Challenges Faced by New Car Buyers: Loan Application Rejections in the COVID-19 Era"). Dealers believed that these buyers had good credit profiles and it was their view that they should have been offered a loan. New car dealers were understandably experiencing a downturn in sales due to issues around the crisis, they wanted to sell cars and had the buyers ready to sign only to have deals fall through due to loan applications being refused. As a major broker in the motor vehicle finance sector, Jade Car Loans recognises customers’ buying and selling but sees several key issues that require explanation here. We also provide tools like the [business car loan calculator](/car-finance-calculator "Empower Your Decision-Making with the Business Car Loan Calculator") to assist buyers in understanding their potential repayments. At the same time, we are offering a potential solution for buyers with ‘second chance car loans’. ## The Facts **Fact 1:** We fully understand the car dealers’ views, but it is important to note upfront, that it isn’t the car dealer or any seller’s role to assess whether a buyer is suitable for a car loan or a business suited for motor vehicle finance, including an [ABN car loan](/abn-car-loan "Unlocking Opportunities with an ABN Vehicle Financing: Drive Your Business Forward"). Yes, many have extensive experience in selling motor vehicles which involves the buyer sourcing finance. So they would have a good grasp of what lenders are looking for when offering a loan. But we remind you and refer you to a recent article we published regarding Responsible Lender Regulations from ASIC. The [National Consumer Credit Protection Act 2009](https://www.legislation.gov.au/Details/C2017C00196 "Understanding the National Consumer Credit Protection Act 2009: Your Guide to Financial Safeguards") covers a lot of details but a key issue is that a lender isn’t able to make a customer a loan offer if lending is not a suitable option. So in defence of the lender activity, they are required to carry out their business under legislation. **Fact 2:** We reported in our blog series that before COVID-19 lenders were tightening their activities. The [impact of COVID-19 on the banks and other lenders](https://www.rba.gov.au/covid-19/ "Navigating the Effects of COVID-19 on Banks and Lenders: Insights from RBA") was significant and some of those impacts still have time to play out. Over a short duration of time, many people were placed on JobKeeper and JobSeeker and as a result of their reduced income contacted their banks to defer loan payments and home mortgage payments. Amid these changes, the demand for financial solutions such as the [no doc car loan](/low-docs-car-loans-for-business-vehicles "Flexible Financing Solutions: Acquiring the Benefits of No Documentation Vehicle Financing") emerged. It all happened seemingly very, very quickly and as major players in the lending sector, we concur that the industry needed to take a moment to assess its situation. Economically, the forecast was uncertain at the time, so it is not surprising that many lenders would take a far more cautious approach to offering car loans. **Fact 4:** After an initial period of tightened lending, lenders eased and we are currently experiencing much more ‘operations as normal’ to offer you a second chance, a workable solution. ## How does Jade Car Loans assist you? - For a start, the lending scene has eased since the initial stages of the COVID-19 crisis and your same application may now be accepted. But if you approach the lenders again yourself, the multiple applications can place a negative imprint on your credit profile. When a finance broker presents your application, even to multiple lenders, no negative impact occurs. - Throughout the crisis, a lot of borrowers appear to have shown a preference for big banks. Jade Car Loans is accredited with leading Australian banks and finance companies. PLUS we have industry-only lending sources. - So we have more choices to source you a cheap car loan. - Using a broker, especially Jade offers many benefits over approaching a lender directly yourself. At Jade, we understand the guidelines that individual lenders are working to meet and we can select the lender that best suits your application. - Banks and some finance companies must meet stringent internal lending guidelines and are rarely in a position to negotiate with individual applicants. - Jade Car Loans has strong bargaining power courtesy of a large amount of motor vehicle finance we write with the banks and we have the skills and the drive to negotiate on your behalf. - We’re highly experienced and our only interest is getting you the best car finance deal possible. ### The Second Chance Car Loan Offer We’re inviting both individuals and businesses to get in touch with us, even if you have been rejected recently for a car loan. We offer:- - Cheap Personal Car Loans: Secured and Unsecured - [Business Car Financing](/business-car-finance): Chattel Mortgage, Leasing, CHP, Novated Car Leasing **To discuss lending matters give us a call on 1300 000 003** *DISCLAIMER: THIS INFORMATION HAS BEEN PROVIDED AS GENERAL MATERIAL FOR YOUR CONSIDERATION. INFORMATION IN REGARD TO GOVERNMENT POLICIES IS SOURCED FROM OFFICIAL AUSTRALIAN GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ERRORS IN PRESENTATION OR IN THE INTERPRETATION OF FACTS OR THE COMMENTARY AND ANALYSIS OF INFORMATION WHICH IS AVAILABLE IN THE PUBLIC DOMAIN. INDIVIDUALS ARE ADVISED TO CONSULT WITH THEIR FINANCIAL ADVISOR OR ACCOUNTANT FOR SPECIFIC ADVICE REGARDING THEIR INDIVIDUAL SITUATION.* **Categories:** Uncategorised --- ### [2020 Mid-Year Outlook](https://www.jadecarloans.com.au/blog/2020-mid-year-outlook) **Published:** June 22, 2020 **Author:** Publisher **Content:** The first half of 2020 has been a challenge that Australian businesses certainly could have done without. Bushfires, extreme rain events and then coronavirus all impacted the economy as a whole and individual businesses to varying extents. But there are always differing views on challenging circumstances – are they problems or opportunities? Will the coronavirus recovery be a snapback V, a stop-start W or will the economy struggle to ‘get out of the bathtub’ with a U-shaped return? What will the impact be on economic growth? How will it affect my business? Usually, a mid-year business wrap would be [framed around the Federal Budget](https://archive.budget.gov.au/index.htm "Insights and Impact: Exploring Policies Framed around the Federal Budget"). But with that pushback to October, we’re covering some of the issues and opportunities you may have missed over the past few months. Within the post-COVID-19 scenario, we’ve compiled a selection of updates, opportunities and offers that may assist with your business car purchasing decisions. The downside: recession, [record unemployment figures](https://tradingeconomics.com/australia/unemployment-rate "Analysing the Impact: Understanding Record Unemployment Figures in Australia"), global trade considerations, risk of a second wave of coronavirus. The upside: [record low interest rates](/blog/steering-towards-a-cheap-interest-rate-car-loan "Navigating the Financial Landscape: Exploring Record Low Interest Rates"), COVID-19 government support measures, rising consumer confidence, new business opportunities. ## Business Support [JobKeeper](https://www.ato.gov.au/general/jobkeeper-payment/), [JobSeeker](https://www.servicesaustralia.gov.au/jobseeker-payment) and the SME cash payment stimulus measures have been greatly welcomed and assisted many businesses deal with the effects of the coronavirus crisis. As the deadline for some of these measures – 30 September 2020 – approaches, all eyes and ears await the Government’s decision around the future of these programs and if the economy will avoid a ‘fiscal cliff’. [The Instant Asset Write Off ](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Maximise Your Business Benefits: Exploring the Instant Asset Write Off")(IAWO) has been extended to 31 December 2020 and this may be the incentive you need to move on with your business investment plans and purchase business vehicles. [We’ve covered IAWO](/blog/news-instant-asset-write-off-extended "Exploring Extended Benefits: Dive Deeper into the Instant Asset Write-Off") in great detail in a number of articles. Refer to our blog article resources for the details or give us a call on 1300 000 003 to discuss. In June, the Government announce the JobMaker program which may present opportunities if you’re in the building and construction sector. That sector in conjunction with infrastructure projects have been flagged as key priorities by Federal and State governments. Good news for many tradies – could be the right time to invest in a new vehicle. ## Economic Conditions Australia is facing a future possible recession but how long and how severe it will be is unknown. We stay across the economic analysis and come to the conclusion that there are mixed forecasts and opinion. Here’s a few points of interest for you to catch up and hopefully grasp an overview of what’s happening:- - As part of the initial coronavirus stimulus measures, [the Reserve Bank reduced the official cash rate and expanded its balance sheet by buying up Government bonds](https://www.rba.gov.au/statistics/cash-rate/ "Monetary Policy Actions: Reserve Bank's Official Cash Rate Reduction and Bond Purchases"). Known as ‘money printing’ and ‘quantitative easing’, this monetary policy measure is complex but the bottom line is: it enables banks and other lenders to access their funds more cheaply and therefore allows borrowers such as your business, better access to low interest rate finance. This is meant to incentivise investment. - For those seeking cost effective [commercial vehicle finance](/business-car-finance), the lenders should theoretically, be in a good place to extend loans. - Interest rates are at historic low levels and not expected to go lower. [RBA Governor Philip Lowe](https://www.rba.gov.au/about-rba/people/gov.html "Insights from RBA Governor Philip Lowe: Leadership and Economic Perspectives") said that he did not intend to decrease the official rate into negative territory. - So while rates are low, it’s looking good for those seeking cheap car loans. - While unemployment rose again in May, not surprisingly to levels not experienced for a very long time, the real picture of where the jobs market is probably won’t be clearly evident until the JobKeeper program ends at the end of September. Of course all are hoping for a good business recovery by then, but with international borders expected to be closed ‘for some time to come’, some sectors are in for long-term pain. - On the topic of jobs – have you considered a Novated Car Lease with Salary Sacrifice for your employees? This type of finance offers benefits to both the business and the employee and may be a useful resource for retaining or attracting good team members in a challenging jobs market. For details on how a Novated Car Lease could work for your car purchase give us a call to discuss 1300 000 003 or head to our dedicated web page for more information. - On the good news side of the outlook balance sheet – after a record drop in April 2020 during the lockdown, consumer confidence was back on the rise for May and June as businesses began to reopen. ## Car Market Review - There are plenty of new models due for 2020 release in all categories – passenger vehicles, luxury market, work vehicles, utes and light commercials. - New car dealers will be very keen to sell after slow sales due to COVID-19 issues. Add to that [EOFY offers](/blog/eofy-sofy-business-car-deals-toyota-small-medium-range "Unlock Exclusive Opportunities: Explore EOFY Offers for Business Car Deals"), clearance and plate sales and mid-year is always a great time to buy a new vehicle. - Catching our eye on the new releases especially is the [2020 model of the Toyota HiLux Workmate](https://citytoyota.dealer.toyota.com.au/new-vehicles/hilux/workmate/4x2 "Explore the 2020 Model of Toyota HiLux Workmate: Performance and Features"). A solid vehicle for tradies, couriers, farmers and plenty of other hardworking operators. - In the luxury business vehicle stakes, Audi have signalled 2020 releases across several of their model ranges. - For those thinking of the environment, there is news worth noting in the electric vehicle market. Several manufacturers are active in the EV market and that now includes [Porsche with their 2020 Taycan](https://www.porsche.com/australia/models/taycan/taycan-models/taycan-4s/) – the German manufacturer’s first EV. [Jade Car Loans](https://www.jadecarloans.com.au/) offers cheap car finance for all types of vehicles – petrol, diesel, electric and hybrid models for both business and private buyers, so call us for a quote. ## The Lending Scene We operated ‘business as usual’ throughout the crisis but did note issues with lenders in the early stages as they responded to calls for payment deferrals and other issues related to [hire purchase cars](/commercial-hire-purchase "Drive Your Business Forward with Hire Purchase Cars: Financing Solutions"). But the situation has improved and many of the vast number of banks and lenders that we are accredited with are offering great deals on motor vehicle finance. We’re being positive and our consultants continue to work hard to secure our customers the cheapest car finance deals, including competitive [business car loan rates](/car-finance-interest-rates "Drive Your Business with Competitive Commercial Vehicle Financing Rates"), available. While some businesses, including those looking for a [sole trader car loan](/car-chattel-mortgage "Tailored Financing for Sole Traders: Explore Vehicle Loans"), may be holding back and taking the cautious approach, many others are acting on their investment and motor vehicle purchase plans to move their business forward and capture the best of the offers and opportunities available. **To get moving on sourcing the most cost-effective motor vehicle finance deal for your business, contact Jade Car Loans. Call 1300 000 003** DISCLAIMER: THIS INFORMATION HAS BEEN PROVIDED *AS GENERAL MATERIAL FOR YOUR CONSIDERATION. INFORMATION IN REGARD TO GOVERNMENT POLICIES IS SOURCED FROM OFFICIAL AUSTRALIAN GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ERRORS IN PRESENTATION OR IN THE INTERPRETATION OF FACTS OR THE COMMENTARY AND ANALYSIS OF INFORMATION WHICH IS AVAILABLE IN THE PUBLIC DOMAIN. INDIVIDUALS ARE ADVISED TO CONSULT WITH THEIR FINANCIAL ADVISOR OR ACCOUNTANT FOR SPECIFIC ADVICE REGARDING THEIR INDIVIDUAL SITUATION.* **Categories:** Uncategorised --- ### [5 Default Questions Answered: Consumer Car Loans](https://www.jadecarloans.com.au/blog/5-default-questions-answered-consumer-car-loans) **Published:** July 2, 2020 **Author:** Publisher **Content:** When buying a car it’s understandable that many people get caught up in the excitement. They just want to get that car loan sorted, finalise the purchase, take delivery and get behind the wheel of their new drive. In the excitement, some issues may be overlooked or perhaps we don’t pay as much attention to some of the details as we should. We can all possibly relate to doing that at some stage of our lives. But we shouldn’t – finance is important. When you have [Jade Car Loans](https://www.jadecarloans.com.au/ "Jade Car Loans: Your Path to Affordable and Flexible Vehicle Financing") arrange your personal car loan, your Jade consultant will explain all the details of the loan and provide you with general information about loans. It’s not just part of our professional service, it is our obligation as a credit licensee and under the [Responsible Lender Guidelines](https://www.asic.gov.au/regulatory-resources/credit/responsible-lending/ "Understanding Responsible Lender Guidelines: Ensuring Ethical Borrowing Practices") and the National Consumer Credit Protection Act. One of the key issues to understand is defaults. No, not falling back to a previous position like default settings on a device. To default on your loan refers to unpaid repayments. It’s a topic to be taken seriously as it can have an impact not just on your current loan but on your financial future. We’re taking the time to explain what a loan default is, its impacts and what you can do to avoid defaulting. ## Q1: What is a Default? A ‘default’ is an overdue or unpaid payment that is 60 days or more old. The term can apply to all types of payments – credit cards, electricity bills, phone bills and all types of loans, including car loans. If a payment is late and paid within 14 days it is classified as a Late Payment. When the [debt is outstanding for 60 days it is classified as a loan default](https://business.vic.gov.au/business-information/finance/raise-capital "Loan Default Classification: Impact of Outstanding Debt for 60 Days"). Both Late Payments and Default attract fees and can have serious consequences. The consumer law sets out the process that lenders must adhere to in addressing late payments and defaults. ## Q2: How does a default happen? In most, if not all [commercial car loan](/business-car-finance "Fuel Your Business with a Tailored Work Car Financing") contracts, the lender and borrower will agree to an automatic payment system for the monthly repayments. That is, the repayment will automatically be debited from your nominated bank account each month on the agreed date. This direct debit is set up in the final stages of finalising your business car loan and requires you to sign an approval to allow the lender to deduct the monies from your account. All Jade Car Loans have fixed monthly repayments so it will be the same amount deducted each month from your account on the same date. A default happens when you do not have sufficient funds in that account on the set date to cover the monthly repayments for several months, i.e. 60 days or more. ## Q3: What happens if I default? There are different stages in the default process and how it plays out may depend on the lender and individual negotiations between the lender and borrower, so we are covering some general processes as a guide. - Most importantly first-up – do not ignore the situation! It won’t go away unless you take the appropriate actions. - If you miss a payment by just a few days because you had insufficient funds in your account on the set date, the lender may not take official action but is entitled to charge you a late payment fee. - When you take out a [Secured Car Loan with Jade](/secured-car-loans "Unlocking Possibilities with a Secured Car Loan through Jade"), the fees from that individual lender will be provided to you in detail. - Default charges vary from lender to lender. To get a general idea of default and late payment fees on car loans, browse some of the major bank’s websites and you’ll see these fees detailed. - If you don’t make your loan payment, you will receive some form of communication from the lender advising you that you have missed a payment and what action they want you to take to rectify the situation. - If the required action is not satisfactorily carried out and more payments are missed up to 60 days, the action on the part of the lender can escalate into the loan default process. - The default is recorded on your [Credit Report and will impact your Credit Score](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Understanding Credit Reports and Their Influence on Your Credit Score"). Lenders and providers are required to report both late payments and defaults and these types of entries on your credit report are difficult and in many cases, impossible to have removed. This may impact your future by making it more difficult for you to get loans and other credit in the future. ## Q4: Will I lose my car if I default? - With a Secured Car Loan, which often comes with specific [business car loan rates](/car-finance-interest-rates "Understanding Competitive Commercial Vehicle Finance Rates: Find Your Ideal Financing"), the car is accepted as security or guarantee against the loan. So if you default on your car loan payments, the lender has the right to repossess the vehicle and sell it to recover the monies owed. ## Q5: How do I avoid Defaults? - With your car loan, the monthly repayment will be due on a set date each month. With Jade Car Loans, it will be a fixed amount, and to help you understand your repayment schedule, we offer tools like the [business car finance calculator](/car-finance-calculator "Empower Your Financial Decisions with the Business Car Loan Calculator"). The lender will automatically deduct this amount from the account you nominated. - The key to avoiding any type of loan default or late payment is to make sure you always have sufficient funds in that bank account on the set date. - If you’re facing financial difficulties and can’t make your monthly repayments, contact your lender to discuss the options or speak with a financial advisor about your circumstances. Defaults are important and you should read all the information provided to you by your Jade consultant about consumer lending. **For more information on car loans, read more of our articles or speak with a Jade Car Loans consultant at 1300 000 003** **Categories:** Uncategorised --- ### [ABN Car Loans](https://www.jadecarloans.com.au/blog/abn-car-loans) **Published:** July 2, 2020 **Author:** Publisher **Content:** We regularly receive enquiries for business vehicle finance from people who have an ABN but don’t have all the documentation and financial records required by major banks or they don’t meet all the criteria required by some lenders and most banks to be eligible for a business car loan. If you’re in this situation, [Jade Car Loans](/) may have a solution that suits your circumstances. ## What is an ABN Only Car Loan? An [ABN Car Loan](/abn-car-loan "Unlocking Opportunities with an ABN Car Loan: Drive Your Business Forward") comes under a broader loan category which also includes [No Docs Car Loan](/no-docs-car-loans-for-business-vehicles "Simplified Financing: Exploring the Benefits of No Documentation Vehicle Financing for Business Vehicles") and [Low Docs Car Loan](/low-docs-car-loans-for-business-vehicles "Flexible Financing with Low Docs Car Loan: Tailored Solutions for Business Vehicles"). All these loan types relate to loan applicants with little documentation except they have secured an ABN. The term ‘documentation’ in the finance sector usually refers to financial records. The loans have similarities and differences which we detail in this article. ## Who does this loan suit? There is clearly a growing trend of people setting up their own business as a side-hack, a ‘hobby’ business, to supplement their primary source of income in their full-time job, to be in a position to operate as a contractor or in the normal course of their career progression. - Across all trades in the building industry, it is not common for recently qualified tradespeople to want to branch out into their own business as soon as they feel it is viable to do so. - Professionals and consultants very often set up their own business structure either to take on ‘outside’ work or in a transitioning-to-retirement phase. - With the expansion of online marketplaces, many craftspeople are finding outlets for their wares and over time, they make the move into a more formal business structure. - Contractors are extremely prevalent in many industries including cleaning, construction, IT and creative sectors. - People in a whole range of industries decide to set up their own businesses. All these new businesses will need an [ABN under the Australian Corporation laws regulated by ASIC](https://asic.gov.au/about-asic/what-we-do/our-role/ "Understanding ABN and ASIC Regulations under Australian Corporation Laws"). But as new businesses that may not have actually started trading, they will likely not have financial records and other documentation. Anyone in these categories may urgently need a vehicle to carry out their business or they may choose to purchase their car in the business name rather than as private vehicle to realise the tax benefits. ## Requirements and Conditions of an ABN Car Loan In securing an ABN Car Loan, some information is required and some lenders may impose certain conditions on this type of loan. - ABN is essential - Advise of the GST status of the business. That is, if your business is registered for GST or not registered. Businesses not registered for GST may attract additional conditions from some lenders. - Proof of your ID is essential as it is with most financial transactions in Australia such as opening a bank account. - If you have been trading and have some financial documents such as bank statements, BAS and some form of accounts, even prepared by yourself, it may be beneficial to your loan prospects. - Some lenders may request you to provide a Business Plan if you are a start-up. - Due to the nature of an ABN Car Loan, lenders view such finance as ‘higher risk’ and a higher interest rate is likely to apply compared with a fully documented loan application. - In most cases the lender will accept the vehicle as guarantee against the loan. However, in some cases, especially if you have only recently received your ABN, as no additional security by way of business records is provided, some lenders may require you to pay a deposit. - Individual lenders have limits on the age of vehicles they will finance. An ABN Loan may not be available on very old used cars. Your Jade consultant will be negotiating with the lenders on your behalf and will be working hard to secure you the best deal available. ## Finance Available with an ABN Car Loan An ABN Car Loan can apply to the range of commercial finance types, depending on individual lender requirements. These include: - Business Vehicle Leasing - [Hire Purchase Cars](/commercial-hire-purchase "Exploring the Benefits of a Commercial Hire Purchase: Flexible Financing Solutions") (CHP) - [Sole Trader car loan](/car-chattel-mortgage "Tailored Financing Solutions for Sole Traders: Explore Car Loans") Refer to our web pages for full details of each of these loan types. ## Comparison: ABN v Low Docs v No Docs Depending on how much documentation or financial records you have for your business will actually determine if you require a no docs, low docs or ABN-only car loan. Your Jade consultant will discuss this with you while preparing your application. - All these loan types are considered higher risk by lenders and attract a higher interest rate. But the more financial information you can provide, which is verifiable, the better your prospects for a better interest rate and securing your loan. - No Docs Car Loans for businesses essentially have the same requirements as listed above for an ABN Car Loan. - Low Docs Car Loans will usually attract a better interest rate but will require you to provide some financial information such as [BAS records](https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/BAS-and-GST-tips/ "Managing Your Business Finances: Insights into BAS Records and GST"), bank statements, tax portals and financial accounts which can be verified from the bank statements. If have a new business but very little or no financial documentation but you need a car so you can get on with your business, contact Jade Car Loans to discuss your options. As a professional finance broker, we are accredited with many banks and lenders. So if the bank has rejected your application or you’ve been hesitant to approach your bank, we may be able to assist. **Give us a call and discuss your ABN Car Loan options with one of our Jade Car Loans consultants. Call 1300 000 003.** **Categories:** Uncategorised --- ### [FY21 Luxury Car Tax & Other Car Tax Changes](https://www.jadecarloans.com.au/blog/fy21-luxury-car-tax-other-car-tax-changes) **Published:** July 6, 2020 **Author:** Publisher **Content:** 1 July each year signifies the start of a new financial year and very often, a raft of changes to a range of taxes and other government fees and charges. We’re providing a broad-based update on some of the changes, which may have affect which car you choose to buy this year. As always, refer to your accountant for specific advice on how any tax changes impact your individual circumstances and your business structure. In the motor vehicle sector, some fees and charges such as car registration and road tolls are state-based and will vary from state to state. But a number of[ motor vehicle taxes are determined by the Australian Taxation Office (ATO)](https://www.ato.gov.au/individuals/income-and-deductions/ "Understanding Motor Vehicle Taxes: ATO Guidelines and Regulations") and apply across all states and may impact private and business car buyers. In particular the Luxury Car Tax, Non-Claimable GST Threshold and Car Cost Depreciation Limit. ## Luxury Car Tax [The Luxury Car Tax (LCT) is a tax on imported vehicles with a sale price over a certain threshold](https://www.ato.gov.au/rates/luxury-car-tax-rate-and-thresholds/ "Exploring the Luxury Car Tax (LCT): Thresholds and Regulations by ATO"). LCT is determined and collected by the ATO with the threshold reviewed annually. Changes to LCT come into effect each year on 1 July in line with the financial year. LCT is currently charged at 33% on the value of eligible cars. That is, cars with a value above the threshold as set by the ATO and subject to other conditions which determine if a particular vehicle is subject to LCT. It is charge on the GST inclusive value of the car above the current threshold. The LCT is payable by businesses and non-businesses that import luxury cars and businesses that purchase these cars. So the importer or dealer will actually pay the LCT but it is passed on to the buyer in the overall purchase price. The tax was first introduced to encourage buyers to support the Australian car manufacturing sector by making imported vehicles significantly more expensive. But as manufacturers continue to exit the Australian car manufacturing sector, some are questioning the relevance of LCT. But wait – there is good news for luxury car buyers as the ATO has increased the LCT threshold for the financial year 2020/21 (FY21). In FY20 it was $67,525 and for FY21 it is $68,740. For fuel-efficient vehicle buyers the news is even better – in FY20 LCT on eligible cars was $75,526 and for FY21 it is $77,565. Could be an incentive to purchase a fuel-efficient luxury car. You’ll need to check which cars qualify for the higher threshold. The ATO information that we sourced defines such as vehicles as using less than 7 litres of fuel per 100 klms. Luxury electric vehicles will also be included in this category. Disappointing for those that are trying to contribute positively to zero emissions. But the EV industry is sure to be lobbying hard on this issue. When considering which luxury car to purchase, use our [Business Car Loan Calculator](/car-finance-calculator "Empower Your Business Decisions with the Commercial Vehicle Financing Calculations") to compare rough ballpark estimates on repayments. ## Other Car Tax Changes ### Other changes that come into effect from 1 July are changes include:- - Car Cost Depreciation Limit which has increased from FY20 $57,581 to FY21 $59,136 - Non-Claimable GST which has increased from $5,234.64 in FY20 to $5,376 in FY21 Keep in mind, the Government has extended the [Instant Asset Write-Off deadline to 31 December 2020](/blog/news-instant-asset-write-off-extended "Extending the Instant Asset Write-Off: Deadline Now Extended to December 31, 2020") as we covered in another blog. While the LCT will increase the price of some cars, the GST and depreciation changes may only impact certain types of [car finance](/). When discussing your car finance requirements with your Jade Car Loans consultant, we always advise you first consult with your accountant as to which is the preferred finance type – Chattel Mortgage, CHP, Leasing – for your business. ## Sourcing Luxury Car Finance Jade Car Loans provides cost-effective motor vehicle finance for business vehicle purchases and cheap car loans for our private car buyers. When purchasing a luxury vehicle with a significant price tag, sourcing the cheapest car loan deal is major consideration for savvy buyers. With low interest rates available combined with our ongoing practice of always sourcing the best interest rates and cheap car finance, we are well-placed to source you a very competitive quote for your luxury car finance. ### A reminder of the car loan types available through Jade Car Loans: - [ABN car loan](/abn-car-loan "Empowering Business Growth with ABN Vehicle Loans: Tailored Financing Solutions") - [sole trader car loan](/car-chattel-mortgage "Flexible Financing Solutions for Sole Traders: Explore Vehicle Financing") - [Hire Purchase cars](/commercial-hire-purchase "Unlocking Possibilities with a Hire Purchase Vehicle: Tailored Financing Solutions") - [Secured Car Loan](/secured-car-loans "Drive Your Dreams with a Personal Secured Car Loan: Tailored Financing Solutions") For a quick quote, give us a call. **For more information on motor vehicle finance browse our library of articles or speak with a Jade Car Loans consultant 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Achieving Work-Life Balance: Crossover Vehicles](https://www.jadecarloans.com.au/blog/achieving-work-life-balance-crossover-vehicles) **Published:** July 6, 2020 **Author:** Publisher **Content:** With so many people now working from home, achieving work-life balance in your daily routine may have become a bit of a challenge. Fortunately, when it comes to buying a vehicle that meets both your business and leisure requirements, getting the work-life balance right is very easy. Many manufacturers are now producing cars that handle double-duty. Either as a workhorse on weekdays and as a recreational vehicle on weekends, handle the school drop-off and then pick-up clients for a meeting, or as the small business delivery vehicle and transport your sports gear. We’re focussing on two 2020 models which will tick a lot of boxes for a lot of car buyers – the 2020 Toyota Hilux and the Suzuki S-Cross. ## 2020 Toyota Hilux The [Hilux has been THE workhorse in the Toyota](https://www.toyota.com.au/hilux "Hilux: The Unrivaled Workhorse by Toyota") work vehicle range for decades. The 2020 model sees this popular vehicle get quite an overhaul which may bring into your consideration for your new double-duty vehicle. As a work vehicle, the Hilux suits tradies, construction and building workers, general delivery contractors, maintenance teams and many more. The styling and increase in comfort levels that Hilux has received over time, makes it equally suited to recreation and adventure. Stow the mountain bikes, kayaks, snowboards, golf clubs or kids bikes and head off on family adventures. The dual cab easily accommodates a work crew or a family. So what’s new in 2020? For a start, the front end has had a makeover to more of a truck-look, described by Toyota as a trapezoidal grille. In the more important categories, the 2020 Hilux features increased power, improved fuel efficiency and increased towing capacity. The 2.8L diesel on the SR, SR5, Rogue and Rugged X models has been giving an additional 20kW and 50Nm in additional torque. In smarts, tech and connectivity features have been upgraded with all models featuring a touchscreen display and intelligent safety technology. Check out all the specs and details and pre-register your interest at [Toyota](http://www.toyota.com.au "Explore the World of Toyota: Innovation, Quality, and Excellence"). So you’re first on-site with your 2020 Hilux contact [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing") for pre-arranged vehicle finance. ## Suzuki S Cross The SUV has become a very popular vehicle for its versatility and Suzuki continues to deliver at the affordable end of the market. The [latest model of the Suzuki S-Cross](https://www.suzuki.com.au/vehicles/suv/s-cross "Discover the Latest Suzuki S-Cross Model: Features, Performance, and More") lives up to the brand’s reputation with a compact price tag and a compact but very sleek package. The S-Cross is available in Turbo and Turbo Prestige variations with a 1.4L 4 cylinder turbo engine with, according to Suzuki, impressive fuel efficiency. A major consideration if you’re a regular at the browser and want to achieve budget balance as well as work-life balance. The sleek styling makes the S-Cross suitable for both private life pursuits and business activities for many people. Whether that means running your own business, using the car for work purposes or if your main ‘work’ focus is running your family errands and meeting their demands. The 430 litre luggage space means plenty of room for rec and sports gear or business packages and stock. The wide opening of the cargo bag will cater for many purposes. Perhaps a hobby business operator set up a market stall each weekend. Inside, safety and technology features abound. Intuitive multimedia systems, inclusions to provide safety while reversing – especially essential at school drop-offs – and seating for 5. Both models have a 6 speed automatic transmission and front, side, curtain and driver knee airbags. All with a starting price under $30K. Worth a look? Check out the specs and details at [Suzuki](https://www.suzuki.com.au/ "Explore the World of Suzuki: Innovation, Performance, and Quality"). When checking out the Hilux or S-Cross, either online or at the showroom don’t forget to have the Jade [Business Car Finance Calculator](/car-finance-calculator "Empower Your Business Decisions with the Business Car Finance Calculator") open to get a rough ballpark on repayments. ## Achieving Car Loan Balance At Jade Car Loans, we offer both business vehicle finance and personal car loans to suit all our customers. If your Hilux or Suzuki will be predominantly for work purposes we offer: - Vehicle Leasing - [Hire Purchase Cars](/commercial-hire-purchase "Exploring Commercial Hire Purchase: Flexible Financing Solutions") - Chattel Mortgage - [new commercial car financing](/new-car-finance "Driving Success with a New Commercial Vehicle Finances: Tailored Financing Solutions") If you’re buying purely for personal use, the [Secured Car Loan](/secured-car-loans) is the most popular choice of personal car loan. Your Jade Car Loans will source you a quote, aimed at achieving balance in your cash flow or your weekly budget. In the current low interest rate climate, we are achieving even cheaper car loans than ever. Your consultant will listen to your requirements and negotiate with the lender to get the balance right to meet your requirements regarding monthly repayments, loan terms and other aspects of the loan. If you would like to be prepared before you start talking to the Toyota or Suzuki dealer, contact us for a pre-approved car loan. **To discuss a cheap car loan or vehicle finance deal on a new Toyota Hilux or Suzuki S-Cross, speak with a Jade Car Loans consultant 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Now's the time to take an interest in interest rates](https://www.jadecarloans.com.au/blog/nows-the-time-to-take-an-interest-in-interest-rates) **Published:** July 16, 2020 **Author:** Publisher **Content:** While home buyers naturally seem obsessed with interest rates regarding their mortgages, car buyers probably pay less attention. Well now is the time to listen up and start paying more attention to interest rates on car loans. The interest rate is the fundamental basis for a car loan. It sets the overall cost of the loan, the monthly repayments and as such, the affordability of the car within your budget. That’s why our consultants work so hard to secure the cheapest interest rate possible. Australia currently has historically low interest and at the July Board meeting, the [Reserve Bank of Australia (RBA)](https://www.rba.gov.au/ "Exploring the Role of the Reserve Bank of Australia (RBA): Monetary Policy and Economic Stewardship") once again held the rate at the .25% with no plans to go lower. ## What does the RBA rate decision mean to car loan interest rates? Sadly no, .25% is not the current rate for [jade car finance](/ "Jade Car Finance: Your Path to Flexible and Affordable Vehicle Financing"). Jade Car Loans prides itself on the best interest rates but even we can’t achieve that rate. The RBA sets what is known as the official interest rate. This is the rate at which lenders can borrow money, as in source their funds and lenders lend to lenders. It’s essentially the industry rate. The official rate will vary based on a range of factors including effects of the global economy, monetary policy and general conditions in the Australian economy as we’ve seen in response to the coronavirus. Good news – lower interest rates mean that lenders can source funds at a cheaper rate which in turn means they can lend at cheaper rates. The large number of banks and lenders that we are accredited with can source their money cheaper and therefore offer our customers better car loans. So the RBA’s decisions do have a bearing on car loans, including those like the [ABN car loan](/abn-car-loan "Empower Your Business with an ABN Car Loan: Tailored Financing Solutions"), especially if or when interest rates start to increase. When will that happen? Industry experts are tipping ‘not for some time’. So the bottom line is – now is the best time in a long time to get a low interest rate car loan. ## What about 0% interest rate car loans? If you’ve been browsing the new car market you may have seen ads for 0% or 1% interest rate car loans. These are usually confined to new car dealerships and if you are tempted, you should be doing the deep, deep dive into exactly what you are signing up for. Across the lending sector, these types of loans, including [business car finance](/business-car-finance "Empower Your Business with Tailored Business Car Loan Solutions"), are seen as a marketing strategy – a bit of a sales tactic – to attract car buyers to the new car market. Due to the coronavirus crisis, new car sales, like many other sectors, have taken a hit and many dealers and manufacturers are especially keen to move stock. The 0% interest rate car loans are available through that dealer’s finance company connection. The issues to look for are:- - An increase in the purchase price of the car. The car may be priced higher than usual or normal to make up for the 0% interest to be charged on the loan. Tip: Check various sources for what that car should be priced at or look at comparative models from other manufacturers. - Extra loan fees. All car loans will include various fees which vary from lender to lender. We don’t advertise specific charges because we deal with so many lenders and we won’t know what your specific charges will be until we source you the best deal. But you can easily see what some banks charge as they usually display them on their website. Tip: Ask for an itemised quote that lists all fees for both the car and the loan. - Promotional or introductory time offer. The fine print may reveal that the 0% interest rate is only for an initial period of the loan term, say 6-12 months, then a higher rate kicks in. This higher rate may far exceed the current rate that we can achieve for you. - Ask the dealer how much the car is if you don’t take their finance offer and source a car loan quote from Jade Car Loans. To avoid being caught, seek other quotes for both the car and your car loan so you can calculate the total cost of the loan and compare offers equally. ## In Your Best Interests Jade Car Loans will always source you with the best interest rates on car finance, including competitive [business vehicle loan rates](/car-finance-interest-rates "Unlocking Competitive Commercial Vehicle Finance Rates: Drive Your Business Forward"), and the best car loan to suit your circumstances and your requirements. Our accreditation with many banks and lenders gives us direct industry-only access to the best deals and you can be assured that we are always working in your best interests. Our interest is to source you a car loan, not sell you a car. For more information on interest rates, how they are derived and how they may affect your car loan, please refer to our web pages and other educational articles. **To discuss a car loan at genuine cheap interest rates, speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Car Buyers Tip: What’s Your ANCAP Safety?](https://www.jadecarloans.com.au/blog/car-buyers-tip-whats-your-ancap-safety) **Published:** July 18, 2020 **Author:** Publisher **Content:** Safety on our roads is a major issue and car manufacturers go to great lengths to incorporate advanced safety features in the vehicles. Major car brands invest heavily in research and development into motor vehicle safety as they know that safety is important to buyers. They appreciate that having excellent safety features is not only an ethical responsibility it is also a major selling factor. So when you’re in the market to buy a car, knowing what safety features are included and what overall safety rating the vehicle has, should be high on your purchase considerations. Fortunately, that information is quite easy to obtain thanks to ANCAP. ## What is ANCAP? ANCAP stands for the [Australasian New Car Assessment Program](https://www.ancap.com.au/ "Exploring Vehicle Safety: Australasian New Car Assessment Program (ANCAP)") and is also known as ANCAP Safety. It is an independent authority for assessing vehicle safety. They have been publishing safety ratings for many vehicle makes and models since 1993 and as their ratings are independent, they tend to be highly regarded and become an industry standard reference. ANCAP tests and then publishes its ratings for different makes and models under a range of categories including different-sized passenger cars, SUVs, light commercial vehicles and other vehicles when they enter the market in Australia and New Zealand. Vehicles are rated on a star system from 0 to 5 stars. So when you see a 5-star ANCAP Rating for a car, you know it has been rated at the highest level. To arrive at the ratings, ANCAP carry out a range of independent assessments including crash tests, safety assessments of on-board and other features and test the technologies that the maker has included regarding collision avoidance. The evaluation covers Adult Occupant Protection, Vulnerable Road User Protection, Child Occupant Protection and Safety Assist. These assessments look at how safe the car is for the driver passengers and any pedestrians if there is a crash. ## Utilising ANCAP Ratings The ANCAP rating allows you to compare different makes and models of vehicles regarding safety. If you’re buying a new car you can compare the rating for each vehicle in making your purchase decision. As the rating is so highly regarded by the motoring public and critical to many in the purchasing process, manufacturers place high importance on achieving a high rating for their cars. In June 2020 an innovative and different way to utilise ANCAP ratings was announced – [the ANCAP RESCUE app](https://www.ancap.com.au/media-and-gallery/releases/ancap-rescue-app-launched-to-protect-first-responders-and-save-lives "Enhancing Safety with the ANCAP RESCUE App: Protecting First Responders and Saving Lives"). The app was launched by Deputy [Prime Minister Michael McCormack](https://www.aph.gov.au/Senators_and_Members/Parliamentarian?MPID=219646 "Enhancing Safety with the ANCAP RESCUE App: Protecting First Responders and Saving Lives") with ANCAP representatives as an important assistance for first responders arriving at a motor vehicle crash site. The app is designed to give the first responders information about any hazards that may be built into that vehicle and other details about the vehicle that would assist in safely extricating any occupants and as such, provide care faster. This is a national app so it should cover a lot of vehicles and a lot of Australia. ## Latest Ratings As vehicles enter the Australian market they are put through the assessments at ANCAP. Some of the vehicles to recently be rated included: - Nissan Juke: a new model in Nissan’s SUV range and rated 5 stars with ANCAP and in a statement, the authority says it is a good all-round safety performer. - [Volkswagen T-Cross:](https://www.volkswagen.com.au/en/models/t-cross.html "Explore the Volkswagen T-Cross: Style, Versatility, and Performance") another SUV this time from an iconic German car maker and the recipient of a 5 star ANCAP rating. The small SUV market is already large and growing but ANCAP says this is “an impressive offering” in this competitive sector. - Audi e-tron: This battery electric vehicle and its variants have also recently received a 5 star ANCAP rating before its late 2020 release in Australia. ## Does a car safety rating affect my car loan? When assessing a car loan application, lenders do consider both the vehicle and the applicant. The vehicle is assessed more regarding age and condition as some lenders have limits to the age of cars they will finance. The safety rating may not have any significant impact on your [jade car financing](/) but it would have more of an effect on your car insurance. Car safety and general road safety are critical to your safety as the driver and the safety of your passengers as well as to other road users. Keeping your car, including [hire purchase car](/commercial-hire-purchase "Unlocking Possibilities with a Hire Purchase Car: Tailored Financing Solutions"), well-maintained is also important to both safety and the ongoing value of the vehicle – important for resale. So when out shopping for a [new business car financing](/new-car-finance "Fueling Business Growth with a New Business Car Loan: Tailored Financing Solutions"), pay attention to the ANCAP rating for your peace of mind and safety. **To discuss a car loan on a 5 star ANCAP rated car, speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [What's Around the Corner?](https://www.jadecarloans.com.au/blog/whats-around-the-corner) **Published:** July 22, 2020 **Author:** Publisher **Content:** So far 2020 has not been a great year for a lot of people, businesses and for getting a lot of what we want to do, done. But for motor vehicle enthusiasts and those on the lookout for a new car, there are still quite a few exciting new models across a wide range of categories due for release in the coming months. No doubt the effects of COVID-19 on manufacturing facilities and transport services across the globe will cause a few delays with the release plans for some car manufacturers. To give your mood an uplift and to start those buying wheels turning in your mind, we’ll mention just a few that we’ve spied on in the motor industry news. ## New Audi Models Audi announced a massive list of new model arrivals for 2020. Some are now on the Australian market but some are still to make their appearance. The Audi e-tron and e-tron Sportback are still scheduled for late 2020 arrival. These vehicles feature Audi’s first all-electric motor so no doubt their arrival is highly anticipated to see how they will compare with other high-end EVs. The V10 R8 Coupe is also on the 2020 release list as the V10 Spyder and the RS Q8. The 4L biturbo V8 RS Q8 has especially attracted attention as Audi has stated it is the first in 25 years for the RS collection – a large sized SUV coupe that has the features of a high performance sports car. For business owners looking to acquire such vehicles, an [ABN car loan](/abn-car-loan "Explore ABN Vehicle Financing Options Here") might be a suitable financing option to consider. Sounding interesting?? Be in first by arranging your pre-approved loan with [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing"). ## The Genesis of Something Big? For something more niche market – have you heard of the [Genesis range](https://www.genesis.com/au/en/main.html "Explore the Sophistication and Innovation of the Genesis Range")? This is the luxury division of Hyundai (reminder of Toyota-Lexus) and is yet to have a big impact on the market in Australia. They have some models currently available and several others due for release later in 2020. Could be worth checking out and we’ll cover the range in greater detail in an upcoming news blog. ## Still to Come…Chevrolet C8 Corvette We can blame a lot of delays these days on COVID-19 but it seems that the delayed arrival of the [Chevy Corvette](https://www.holden.com.au/ "Experience Thrills and Precision with the Chevy Corvette: Visit Holden Australia") is more to do with Holden closing their Australian operation. It will arrive as a left hand drive so will have to undergo the conversion. But even with an uncertain arrival, sometime in 2021, true sports car fans, especially those that long for the classic open-top 2-seater models, will no doubt consider it a worthwhile wait. While we can’t guarantee what interest rates will be available for car loans in 2021 (expected to stay low) you can always start talking loans with one of our consultants well out from delivery time. ## Mainstream Market Appeal – Peugeot 208 From a general glance, yes you’d be right to think that the French manufacturer has made only subtle changes to the look of its smallest model the 208 over several new model releases. Let’s face it, it’s always been a stylish little hatch. But the new generation [Peugeot ](https://www.peugeot.com.au/ "Discover Elegance and Performance with Peugeot: Visit Peugeot Australia")208, the 2020 model, is creating a lot of interest and was recently awarded Europe’s Car of the Year 2020. She is due to make her first appearance on the Australian market sometime in 2020 so keep an eye out or check in with your local Peugeot dealer. And of course, contact Jade Car Loans for pre-approved finance so you’re sorted. ## Turbo Times with Toyota Yaris Also in the mainstream and coming late 2020 is [the new rally-bred GR Yaris from Toyota](https://www.toyota.com.au/gr-yaris "Unleash the Thrill: Explore the New Rally-Bred GR Yaris from Toyota"). Noted as a ‘hot hatch’ the GR is sure to tick a lot of boxes for both urban driving and those who like to put their wheels through the paces on rally courses. ### Car Finance Lending Update At the start of the COVID-19 crisis, the banks and many lenders stepped in to support their customers with loan deferral arrangements. Most of these were put in place for 4-6 months and the expiration is approaching. As we are accredited with many banks and lenders, several have reached out to Jade Car Loans to advise us of their plans as the initial deferral period comes to an end. Most lenders will be reaching out to their customers to discuss their situation and either transition them back to their normal repayment schedule or make other arrangements. If you entered into a deferral arrangement regarding your car loan and that timeframe is close to end, we would advise you to contact your lender so you have certainty over the next phase. Additionally, using tools like a [business car loan calculator](/car-finance-calculator "Empower Your Business Decisions with the Business Car Loan Calculator") can help you assess and plan your future repayments. On the interest rate front, the RBA has held rates at the current low levels at their recent board meeting. So, with regard to [business car loan interest rates](/car-finance-interest-rates "Unlocking Competitive Commercial Vehicle Finance Interest Rates: Drive Your Business Forward"), we expect to be in a position to continue to offer the best car loans at the best interest rates for some time to come. So that’s what’s around the corner and what you can look forward to. If you would like to get your [commercial car loans](/business-car-finance) arranged for any of the new models due, contact your Jade consultant for a pre-approved car loan. **To discuss a car loan on a ‘soon to arrive’ car model, speak with a Jade Car Loans consultant 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Making Contact with Your New Car in a Contactless World](https://www.jadecarloans.com.au/blog/making-contact-with-your-new-car-in-a-contactless-world) **Published:** July 24, 2020 **Author:** Publisher **Content:** *“Life is what happens when you’re busy making other plans”* – a well-known saying attributed to John Lennon and what could be the anthem for 2020. Hands up those who had planned to get into a new car early this year but have had to put those plans on hold due to COVID-19. While some aspects of Australian business have returned to normal trading, many industries including the car sales sector, have pivoted to a [contactless business model](https://www.afr.com/chanticleer/cash-is-dying-as-startups-swoop-in-20200629-p557bz "Embracing the Future: Exploring the Contactless Business Model") to deal with issues around coronavirus. Good news for car buyers – you CAN proceed with your car purchase and source your car loan in a contactless business environment. We cover off on what you can expect, a few tips on what to be mindful of and how Jade Car Loans can assist you. ## Buying a New Car Online Nothing new there, online car sales marketplaces have been around for years. Yes, but this is a different take on an online sale. As distinct from browsing the online marketplace and brand websites to look at cars and make enquiries, the new trend is to order your new car online. Some new [car dealers are offering a range of contactless purchasing](https://www.drive.com.au/news/car-dealers-now-offering-contactless-sales-enquiries-and-home-test-drives/ "Seamless and Safe: Exploring Contactless Purchasing Options from Car Dealers") processes including buying your car completely online. That is, without an in-person inspection or test drive. What about experiencing that new car fragrance that we so associate with buying a brand new car? Guess you have to wait until your vehicle arrives. According to reports out of the motoring industry, COVID-19 has led to more dealers offering an entirely online option and more people taking advantage of the service. While this is still quite a small percentage of total sales, it could be the way of the future if this pandemic experience is anything to go by. ## Would you buy a car completely online? If you’re buying a brand new car from an authorised dealer and you know the brand and you are essentially updating, then many people may just place their order online without a second thought. If you’re relying on a valuation on your trade-in, the dealer will have to see your trade in person to complete that side of the transaction. For those trying to gauge their financing options, using a [business car loan calculator](/car-finance-calculator "Empower Your Business Decisions with the Business Car Loan Calculator") can also be of immense help during this process. For limited edition models and much sought-after but in short supply releases, buying online and pre-release may be the only way to ensure you get one. Under consumer laws, buyers are covered for cars purchased through a dealer and you should always check what assurances the dealer will provide should your first drive after getting the keys not meet your expectations. When it comes to buying a used car completely online, especially when considering [hire purchase cars](/commercial-hire-purchase "Unlocking Possibilities with Hire Purchase Cars: Flexible Financing Solutions"), we would expect far fewer people would be prepared to do that and it would not be strongly advised in most cases. Consumer laws do not cover all sellers and while online shopping from reputable outlets is a convenient and largely successful process for most purchases, the same may not be for used cars. If this is your only option, you may consider engaging a reliable mechanic to inspect the vehicle and give you a condition report before you commit. ## Who’s gone online? It probably won’t come as much of a surprise that the always surprising [Tesla](https://www.tesla.com/en_au "Experience Adventure and Reliability with Subaru: Explore the Range") brand carries out a large amount of its sales via its website. Closer to home, [Subaru](https://www.subaru.com.au/ "Experience Adventure and Reliability with Subaru: Explore the Range") first offered online purchases in 2012 with their BRZ and followed successfully in later years with other limited edition models. Toyota did the same with the Supra at one stage and [Volkswagen Australia](https://www.volkswagen.com.au/en.html "Discover Innovation and Performance with Volkswagen Australia") is currently selling vehicles online with some exclusive online clearance offers. ## Contactless Buying While the full online purchase process still has limited availability, many new and used car dealers, especially those offering [sole trader car loan](/car-chattel-mortgage "Tailored Financing Solutions for Sole Traders: Explore Car Loans") options, have changed their process to offer contactless car purchases due to COVID-19. This process may include bringing a car to your place to inspect and test drive, providing a COVID-safe showroom, and other practices that adhere to social distancing while still allowing buyers to get involved with the purchase. ## Contactless Car Loans At [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing"), we’ve been operating in a contactless environment for many years. We handle your car loans with a combination of phone and email contact. - Call 1300 000 003 to discuss your car loan requirements with one of our consultants. - You may opt to receive a quick quote via phone email or even text message. - If accepted, we request documentation from you to complete your application. - Documents can be scanned and emailed. - If a personal engagement is preferred, our consultants can hold virtual meetings with our customers via Skype, FaceTime or Zoom. - Our consultants conduct the loan sourcing process entirely via phone and email. - On acceptance of our loan quote, we finalise the paperwork through to settlement, completely contactless. Our contactless car loans are available for Personal Secured Car Loans and [Business Car Finance](/business-car-finance). So if you’ve put off your car buying plans due to COVID-19, maybe it’s time for your plans to take priority over life’s events and order your new car online and arrange your car loan through Jade Car Loans. As for that new car smell – you’ll just have to wait to experience it in person. **To discuss a contactless car loan speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [What's the fastest way to get a car loan?](https://www.jadecarloans.com.au/blog/whats-the-fastest-way-to-get-a-car-loan) **Published:** July 27, 2020 **Author:** Publisher **Content:** In many aspects of life, this is a world that doesn’t want to wait. An on-demand society with convenience and time-saving top priorities to achieve better work-life balance for the time-poor. When it comes to car buyers some are happy to take their time and investigate every aspect and every option before arriving at a decision. Then some know exactly what car they want, they use convenient online tools to find it, do a deal and then just want to sort a [commercial car finance](/business-car-finance) so they can get behind the wheel of their new vehicle ASAP. If you’re reading this article, especially if you’re interested in [car loans for sole traders](/car-chattel-mortgage "Tailored Car Financing for Sole Traders: Explore Car Loans"), we can probably safely presume you’re one of those who are in a hurry. So we’ll get on with our explainer on fast car loans and how Jade Car Loans can assist you. ## Consumer Laws: Not Negotiable! For private car buyers – those buying a car for private use and seeking consumer finance – [there are strict consumer laws that need to be adhered to by all providers of consumer finance](/blog/lender-regulations-what-you-need-to-know-about-consumer-car-lenders "Understanding Consumer Finance Regulations: Adherence to Strict Consumer Laws"). These laws are governed by [ASIC](https://asic.gov.au/ "Explore Regulatory Oversight with ASIC: Australian Securities and Investments Commission") and set out in specific detail the processes that must followed by credit providers when offering quotes and arranging offers for consumer car loans. We’ve covered all this in another blog and refer you to our articles library for more detail. So no matter how fast you want to proceed and no matter how quickly the lender, including your [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing") consultant, can act, there are still steps that must be carried out before you can sign up for a loan contract. ## Which car loan provider is faster? There are several sources available for consumer car loans and some avenues may appear to offer a faster service – but at what cost? Getting your loan quickly only to find out that you’re paying more due to unfavourable [business car loan interest rates](/car-finance-interest-rates "Unlocking Competitive Commercial Vehicle Finance Interest Rates: Drive Your Business Forward") is a key aspect to think about. Impulsiveness could end up being irresponsibility and cost you over the term of your loan. - If you are going to seek several quotes to compare, doing that yourself is going to take some time – how long will depend on who you contact. - Be aware that a ‘quick quote’ over the phone or sourced through an online device may not represent a firm quote or an offer of a loan. The loan you end up being offered may differ. - To get a firm quote, some providers may require you to go through a comprehensive loan application process. How long that takes will differ from lender to lender. Remember, every time you apply for a loan it is recorded on your credit history. ### Let’s consider your options:- - Bank Car Loans: Contacting any bank can sometimes be time-consuming as you may have to wait on hold or wait for a callback. Some banks have diverted staff to deal with COVID-19 issues which may lead to longer wait times for some services, including those looking for a [low doc business car loan](/low-docs-car-loans-for-business-vehicles "Flexible Financing with Minimal Documentation Commercial Vehicle Finance: Tailored Solutions for Your Business"). Large organisations by their very nature may tend to have longer processing times for loans. - Finance Companies: also usually very large organisations and the time to provide firm quotes and process applications will vary. - Dealer Finance: This has the image of being convenient and to some people, fast. If you’re at the dealership or car yard, the salesperson can sign you up for finance on the spot – what’s not to like? The possibility of inflated fees, charges and commissions and possible promotional offers like 0% interest rates that’s what. We strongly advise that every dealer finance offer be studied in great detail and compared with one that Jade Car Loans offers. - Broker – Jade Car Loans: One of the greatest benefits of using the services of a [car finance broker](/car-finance-broker) is our ability to act quickly facilitated by our direct access through industry channels at the banks and other lenders and the smaller size of our structure which allows for more streamlined service. Your Jade consultant can consider offers from the multiple banks and lenders we are accredited with, quickly and efficiently. Saving you a lot of time in shopping around for loan offers yourself. ## Speeding up the Process There are several steps you can take to speed up the car loan process: - All major banks, finance companies, finance brokers like Jade Car Loans, dealers car manufacturers and other car loan providers advertise their car loan offers on their websites. Browse around and always look at the Comparison Interest Rate when comparing what’s available. For info on Comparison Interest Rates, head to our web page. - Have your paperwork ready. All consumer loan applications have minimum requirements – you will need payslips and other financial details and spending so get them organised ahead of time. - Know what you can afford in repayments. Do your weekly/monthly budget and have a good idea of what you can realistically afford in monthly repayments so you can make quick decisions when you receive offers. ### Taking the Fast Track with Jade Car Loans Jade Car Loans provides a combination of self-serve resources and broker services to fast track your car loan process. - Online [commercial vehicle finance calculator](/car-finance-calculator "Business car loan Calculator"): Head to our calculator webpage to compare possible monthly repayments on cars you are considering. This function only provides a rough ballpark estimate but it’s quick, easy to operate and when used correctly can at least speed up your car buying decisions. - Quick Quotes: When we say quick, at Jade we mean it. Complete our online form or just give us a call. We are accredited with many banks and lenders so we can quickly source you the best offer from many providers. - Personalised Service: When using Jade as your broker, you will be assigned your consultant so you have one single contact point for quick updates on the progress of your loan. While we provide loan services across Australia, we operate on a smaller scale than the major banks which allows us to provide a highly efficient level of service. - Fast approvals and prompt settlement are integral to our services. We don’t hold up or delay your loan application through our internal procedures. Jade Car Loans offers a service to suit both car buyer who wants to take their time to consider all their options and those who want prompt, fast action. **To discuss a fast-tracked car loan, speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Tax Topics: Optimising Business Vehicle Finance](https://www.jadecarloans.com.au/blog/tax-topics-optimising-business-vehicle-finance) **Published:** July 30, 2020 **Author:** Publisher **Content:** The end of the financial year and tax time can present business owners with plenty of questions, considerations and opportunities. Time to reflect, refresh and reset. What could we be doing better in many areas of the operation? Are we optimising and maximising allowable tax deductions? Are we taking full advantage of the government measures and programs being offered? This could be a good time to look ahead and start planning what you can do to improve the bottom line in this financial period. From Jade Car Loans’ perspective, about [affordable business car loans](/business-car-finance "Empower Your Business with Tailored Commercial Vehicle Finance Solutions"). Added into the mix for 2020 has been the impacts of the COVID-19 pandemic. The uncertainty has caused many businesses to delay major purchases. The announcement by Prime Minister Scott Morrison and [Treasurer Josh Frydenberg](https://www.aph.gov.au/Senators_and_Members/Parliamentarian?MPID=FKL "Exploring the Leadership of Treasurer Josh Frydenberg") on the extension of the JobKeeper program through to March 2021 has allowed many businesses to put more plans into action. If your plans involve purchasing new business vehicles then the choice of finance type should be carefully considered about tax benefits. We’ve covered these details in our web pages for each finance type and provide a brief recap to put your car finance on top of your mind. ## Get the Right Advice When it comes to your business vehicle finance you need to know who to refer to for advice on the different aspects of the deal. There is a distinct difference between the roles of your accountant or financial advisor and your [Car Loan broker](/car-finance-broker). The role of your Jade consultant is to source you the [best car finance](/ "Jade Car Loans") deal from our large number of banks and lenders and negotiate the interest rates and terms based on your brief to us. When it comes to deciding on the finance product you want for that car purchase, we always advise you to refer to your accountant. Why? Because it is your accountant’s role to know the specific structure of your business, the accounting method used in preparing your accounts and your financial objectives. These are the deciding factors when it comes to deciding which finance product best suits your business. Deciding which finance facility will deliver the optimum tax benefits to your business. ## Business Vehicle Finance Types Jade Car Loans offers the full range of commercial finance products including the most popularly used types:- - [New business car loan](/new-car-finance "Fueling Business Growth with a New Commercial Vehicle Finance: Tailored Financing Solutions") - [Small business car loan](/business-car-finance "Empowering Small Businesses with Tailored Vehicle Finance Solutions") - [Hire Purchase Cars](/commercial-hire-purchase "Unlocking Opportunities with Hire Purchase Cars: Flexible Financing Solutions") (CHP) - [Sole trader car loan](/car-chattel-mortgage "Tailored Financing Solutions for Sole Traders: Explore Car Loans") Which is best suited to your business depends on several factors including your treatment of tax including GST and deductions. ### Tax Elements Here’s a brief overview of the varying tax implications of business vehicle finance. ### GST Treatment - GST is not charged on the interest component of the loan under any of the finance types. - With Chattel Mortgage and CHP, the business can claim the full amount of GST on the purchase price of the vehicle on the next BAS return after purchase. That’s on the purchase price, not the full loan amount as GST does not apply to interest. - With Leasing, GST is applied to and claimed on each monthly repayment but only on the principal repayment not on the interest portion. - When finalising the finance contract your lender, broker or accountant can provide you with the details as to what GST amounts to claim at what times. ### Tax Deductibility - With Chattel Mortgage and CHP, only the interest component of the monthly repayment is tax deductible, not the complete repayment amount. - With Leasing, the monthly payments are considered an operating expense and are tax deductible. - Residual is also tax deductible for Leasing but the balloon is not tax deductible for Chattel Mortgage and CHP. ## Structuring Your Finance to Optimise Benefits The structure of the finance may also have an impact on the benefit to your business. That is, varying the balloon/residual to increase/decrease the monthly payments or opting for a longer or shorter loan term to vary the monthly outgoings. Both these strategies may offer your business a [benefit at EOFY tax time](/blog/eofy-sofy-business-car-deals-toyota-small-medium-range "Maximise Your Benefits at EOFY Tax Time: Explore Business Car Deals"). These details may be worth considering and discussing with your accountant before advising your Jade consultant which finance facility to arrange for your vehicle purchase. ## Other Offers and Benefits: IAWO, BBI, Vic Payroll tax In response to the effects of COVID-19 on business, both the federal government and state governments have implemented short-term measures that may benefit your business when financing business vehicles. - [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Unlock Opportunities with the Extended Instant Asset Write-Off") and Back Business Investment measures both include business vehicles for eligible businesses. - Several state governments have waived and/or deferred payroll tax for a time and the Victorian Treasurer announced a further deferral in mid-July in response to the COVID outbreak in that state. ### Refinancing Options In addition to providing finance for newly purchased vehicles, Jade Car Loans also provides refinancing facilities. If your business structure or objectives have changed since you took out your car finance or you are seeking to refinance the balloon/residual, please discuss your requirements with your Jade Car Loans consultant. We stay across developments and announcements across many areas of the financial sector and will be regularly posting articles and news for your interest and information. **To discuss cost-effective business vehicle finance, speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Finance for Motor Sport Inspired Renault](https://www.jadecarloans.com.au/blog/finance-for-motor-sport-inspired-renault) **Published:** August 3, 2020 **Author:** Publisher **Content:** As [Daniel Ricciardo](https://twitter.com/danielricciardo) steps out of his F1 Renault we take a look at the motor sport inspired Renault models that you may like to step into with the assistance of a [Jade car loan](/ "Explore Jade Car Loans for Your Financial Needs"). These cars may not be as fast as Dan’s F1 but with a cheap Jade car loan, you can be assured you’re on a winner. [Renault](https://www.renault.com.au/ "Discover the World of Renault Vehicles") is a French car manufacturer which has been an active participant in several areas of motorsport for over 120 years. But the company doesn’t leave all that heritage, R&D and tech on the track. They bring some of the motorsport technologies that they have developed for racing into their Megane RS. ## The Finance The 4-door Megane is stylish with sharp details in the design. But don’t be fooled that this is just another hatch in the market. Renault claims the Megane RS has the most powerful 1.8 L engine available in the market. With the acceleration of zero to 100 kph in just under 6 seconds, you can at least get that motorsport feel. The Megane RS collection is available in three variants – the Sport, Cup and Trophy – with multiple configurations and both manual and auto transmissions. The appearance has appeal for the younger, sportier market while the functionality, safety and comfort bring the Megane into contention as the family driver or business vehicle. Details of note include the side extractor vents and the bold design of the front grille and the side extractor vents. For those focussing on performance, Renault’s innovation control system delivers agile handling which is indicative of the motorsport technology built into the Megane RS range. The safety features are impressive with blind spot and lane departure warning as well as surround parking sensors. And a special feature that will save you time at your pit stops – tyre pressure monitors. Dan Ricciardo may not be in the cockpit of a Renault in the next F1 season but you can experience at least a taste of what he did in the amazing design of the Megane RS cockpit. Sports seating delivers the comfort you would expect while the red and black embroidery on the upholstery creates that racing feel. To get that F1 team look and feel, check out the accessories available including the stylish car cover. ## Buying a Renault Megane Interested in a Megane? The Renault website covers many of the specifications and details so you can compare the various configurations and request pricing. When browsing online, refer to the [Business car loan calculator](/car-finance-calculator) to get a rough estimate of possible monthly repayments for a Jade loan on your Megane. If considering extras and those very special accessories, don’t forget to include those costs into your overall car loan. When it’s time for your inspection and test drive, Renault has dealers in all states of Australia. Hot tip – Don’t head into a dealership unprepared. Contact Jade Car Loans beforehand so one of our consultants can arrange pre-approved finance for your Megane. Even if you don’t know exactly what the final pricing will be, we can arrange your loan based on a ballpark and then finalise the loan with the exact purchase price after you sign the sale agreement. ## Finance for a Megane RS Jade Car Loans provides motor vehicle finance for many types of cars including motor sport inspired models. The Megane would suit both personal and business buyers so you have your choice of either a [Personal Car Loan](/personal-car-finance) or one of our commercial car loan products. Jade Car Loans complements the F1 inspired features of the RS range with our fast approvals and quick quotes service. Your Jade consultant can accelerate your loan request to suit your purchasing speed. We cover our vast number of lenders to deliver you a loan quote much faster than you could do yourself. Your Jade consultant is a must-have member of your Renault pit crew. ## Secured Car Loan for a Megane RS If buying a Renault for private use, the Jade Secured Car Loan is likely the most appropriate loan for you, especially if you’re considering a [low doc car loan](/low-docs-car-loans-for-business-vehicles "Flexible Financing: Minimal Documentation Vehicle Financing"). With our signature better interest rates fixed for the loan term and fixed monthly repayments that are negotiated to best suit your monthly budget, this is a loan that delivers the performance required for most families and individuals. ## Megane RS Business Vehicle Finance The RS is certain to appeal to business owners and their employees. Jade provides a comprehensive range of commercial car loan products including Leasing, Chattel Mortgage, [hire purchase cars](/commercial-hire-purchase "Get Your Dream Car with Commercial Hire Purchase") and Novated Lease with salary sacrificing. Novated Leasing is a form of [competitive business car loan](/business-car-finance "Unlock Your Business Potential with Commercial Financing") designed for employers that want to provide a vehicle for an employee, and the employee has agreed to sacrifice a portion of their salary towards the purchase of the vehicle. The Megane may be just the car that suits that arrangement. You can read all the details of this type of business loan on our dedicated web page. Or simply contact Jade Car Loans and discuss your requirements. **To discuss a loan on a Renault Megane RS, speak with a Jade Car Loans consultant 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON VEHICLES IS QUOTED FROM THE MANUFACTURER’S WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Does Isuzu make cars as well as trucks?](https://www.jadecarloans.com.au/blog/does-isuzu-make-cars-as-well-as-trucks) **Published:** August 6, 2020 **Author:** Publisher **Content:** [Isuzu](https://www.isuzu.com.au/) is a well-known manufacturer of trucks and light commercial vehicles which are extremely popular in the Australian market. But the company also brings that truck DNA and tough working engineering expertise into an impressive collection of utes and SUVs which are idea work vehicles for many industry applications. In particular we’re talking the D-Max ute and the MU-X which is a tough, yet stylish SUV. ## Truck DNA in Smaller Work Vehicles The Isuzu badge is seen on roads across Australia on their best-selling medium duty trucks. You see them pretty much everywhere – in loading docks, on highways, freeways and around the cities delivering goods and handling those tipper and specialist applications. But not every working environment requires a truck. For those that need a truck-tough vehicle for their work but don’t need that larger size, Isuzu delivers. As a world leader in diesel engine manufacture and renowned for their tough chassis design, they include their engineering and truck DNA in their smaller vehicle range. ## Isuzu D-Max Ute The ute is one of the most versatile vehicles on the road and the contemporary styling of the [D-Max](https://www.isuzuute.com.au/d-max/range) and the number of variants, makes this both a comfortable work vehicle and a great cross-over for recreational and family duty. The D-Max is available in both 4×2 and 4×4 set-ups with a choice of the single cab, space cab or crew cab. Some variants also offer the choice of high or low ride. The engine is a tough 3.0L Isuzu turbo diesel and you have the choice of manual or auto transmission on some models. Another choice – tray or ute cargo area? While the focus is on toughness, comfort is not overlooked. Features include keyless entry, touchscreen media and comfortable seats to make a day’s work more enjoyable. The Isuzu ute website offers a ‘build and quote’ function which may be useful to get an idea of price on the model you’re interested in. Remember to refer to our Jade [business car finance calculator](/car-finance-calculator "Plan Your Business Moves: Try Our Business Car Finance Calculator") to translate the purchase price into rough monthly repayment estimates on your finance package. ## Isuzu MU-X If an SUZ style better suits your working environment the [Isuzu MU-X](https://www.isuzuute.com.au/mu-x/overview "Explore the Isuzu MU-X: Adventure Awaits") may be worth considering. This SUV has the Isuzu toughness and the 3.0L turbo diesel engine but in a 7 seater vehicle which can work hard for you on the job sites all week and then make an ideal adventure vehicle for the weekend pursuits with mates, friends or family. The MU-X is available in both off-road and on road variants and has 3.0 tonne towing capacity if you need to hitch up a generator, trailer loaded with work gear, work machinery and equipment or a caravan. Safety is paramount and the MU-X has that valued 5 star ANCAP rating, 6 airbags and many other safety features built into a great package. Comfort is also well-considered with luxury seats and a multitude of creature comforts that may surprise you on a workhorse. Depending on your application, Isuzu offer a range of useful accessories including several different styles of nudge bars and bull bars, side steps, weather shields and snorkel. When putting your MU-X package together, don’t forget to include the accessories in your Jade Car Loan. Your consultant can include the whole package into your finance deal and your convenient monthly repayments – at our low interest rates of course. ## Isuzu Ute and SUV Finance Options Your choice of commercial car finance product will depend on your individual business set-up and/or company structure and we advise that our customers refer to their accountant for advice on this matter. The choice of business car finance includes:- - [no doc car loan](/no-docs-car-loans-for-business-vehicles "Zero Documentation Vehicle Financing: Simplifying Business Vehicle Financing") - [Hire Purchase Car](/commercial-hire-purchase "Car Hire Purchaser Financing: Get the Wheels Rolling for Your Business") - Leasing While the different loan types vary in the treatment of GST, tax and other accountant issues, your Jade consultant will structure your loan with our cheap fixed interest rates, fixed repayments and a fixed loan term with optional balloon/residual. We’ll tailor your Isuzu ute finance to best work with you cash flow and towards realising the ROI you expect from your vehicle. Before taking a test drive, you can request a quick quote on your Isuzu or pre-approved finance for your [car loan for businesses](/business-car-finance "Commercial Vehicle Financing Solutions: Drive Your Business Forward") so you are ready to sign the sale contract and move quickly with getting your vehicle delivered. Pre-approved Jade finance can be a very smart move as you will know ahead of time how much you have budgeted. It may provide you greater confidence to select the model variant and accessories to suit your loan rather than having to make the loan suit your purchases after. Speak to your [Jade Car Loans](/ "Jade Car Loans: Your Path to Vehicle Financing") consultant as to which way you would like to go and we’ll make it happen. We’re specialists in business vehicle finance and may be in a position to assist with ABN only loans, no deposit finance and even solutions for no docs and low docs business loans. **To discuss finance on an Isuzu ute or SUV speak with a Jade Car Loans consultant at 1300 000 003** *DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON VEHICLES IS QUOTED FROM THE MANUFACTURER’S WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Cars for Employees: Finance Options](https://www.jadecarloans.com.au/blog/cars-for-employees-finance-options) **Published:** August 11, 2020 **Author:** Publisher **Content:** It’s quite a common practice for businesses to provide some of their employees with a car or other type of vehicle to carry out their role. [Jade Car Loans](/ "Jade Car Loans: Your Trusted Source for Vehicle Financing") works with businesses to structure cost-effective motor vehicle finance to purchase company cars all the time. Having a ‘company car’ has long been seen as a great job perk and a very appealing detail in recruitment ads. This offer is usually reserved for employees who need to drive around or travel on behalf of the company, such as reps and for those who need to have access to specialist equipment on the job such as service techs and tradies. These types of company cars are in a different category to a driver whose job involves driving the company trucks or delivery vans. The ‘reps’ with the company cars usually get to take the vehicle home with them and use it for their private purposes as well as company business. The ‘company car’ is essentially their car while employed by that business. But when they leave the business, they leave the car with the company. There is another category of company-purchased cars for employees and that is when the employee sacrifices a portion of their salary towards the purchase of the car and ends up owning the car and taking it with them when they leave that job. Jade Car Loans provides different types of loan products for these different categories of ‘company cars ## Wholly-Owned by Company Car Finance To purchase company cars for use by their employees but owned entirely by the business, Jade Car Loans provides the full range of commercial finance facilities including: - [Sole trader car loan](/car-chattel-mortgage) - [ABN car loan](/abn-car-loan) - [Hire Purchase Cars](/commercial-hire-purchase) While these finance types have varying features and benefits regarding tax and accounting aspects, they all involve a business purchasing a car in the company name and the vehicle is then wholly owned by the business when the loan term is finalised. The loan deal is between the employer and the lender. The company can then offer an employee the use of that car while they are employed by the business and FBT may apply. The appeal to employees is having a fully-maintained car so they don’t have to purchase their car or cover the ongoing costs. Before deciding on this, employees might want to [calculate credit score implications](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Calculate Credit Score Implications: Learn How Credit Scores and Reports Work"), as some arrangements can affect individual credit histories. But they usually don’t have a choice as to what type of car they get, and when they leave that job, they can’t take the car with them. They may also have to drive around with the company signage on their car, even when driving for private purposes. ## Novated Lease with Salary Sacrifice An alternative is purchasing the car under a [Novated Lease with Salary Sacrifice](/novated-car-leasing-and-salary-sacrificing). Novated Leasing is designed for employers that want to provide a vehicle for an employee and the employee has agreed to sacrifice a portion of their salary towards the purchase of the vehicle. Under this type of finance product, the company pays all the car costs including lease payments and these are deducted from the employee’s pre-tax salary. The employee is sacrificing a portion of their salary each month but at the end of the lease term, they own the car. We have dedicated a web page to explaining the details of this finance product and you are welcome to call one of our Jade Car Loans consultants for further clarification. But here are the key details: - Employees choose cars and novate or replace their employer for themselves on the car lease contract with the lender. - This is a contract between the employee, the employer and the lender. - The employer pays the monthly repayments and other car expenses and receives the relevant tax and other accounting benefits. - The costs are deducted from the employee’s pre-tax salary which may result in the employee paying less tax that is in a lower tax bracket. - When all lease payments and residuals are finalised, the car ownership is signed over to the employee. This type of finance offers potential benefits to both employer and employee and may be suggested by either party. The employee gets to select their car and when they leave that job they depart with the car. If they leave the job before the lease term is finalised, they would need to make arrangements with the employer and lender regarding the lease and car ownership. For a clearer understanding of the financial implications, utilising a [business car loan calculator](/car-finance-calculator "Commercial Vehicle Finance Calculator: Plan Your Financing with Jade Car Loans") can be beneficial. ## Buying Company Cars Jade Car Loans provides a range of finance options for companies wanting to provide employees with cars. With current wage growth slow and [business car loan interest rates](/car-finance-interest-rates) low, offering a company car may be an attractive option for some employees and employers. We always advise you to discuss accounting and other financial strategies with your accountant. For a no-obligation discussion around finance for company cars for a quick quote or to commence a finance application, please contact us. **To discuss finance to purchase company cars, speak with a Jade Car Loans consultant 1300 000 003** *DISCLAIMER: ALL INFORMATION PRESENTED IN THESE ARTICLES IS FOR GENERAL INFORMATIONAL PURPOSES AND BUSINESSES AND INDIVIDUALS SHOULD SEEK INDEPENDENT FINANCIAL ADVICE REGARDING THEIR OWN FINANCIAL DECISIONS AND CIRCUMSTANCES. DETAILS ON GOVERNMENT MEASURES, POLICIES AND GUIDELINES AND VEHICLE DETAILS AND SPECS HAVE BEEN SOURCED FROM PUBLICLY AVAILABLE WEBSITES AND SOURCES. LIABILITY IS NOT ACCEPTED FOR ERRORS IN INTERPRETATION OR PRESENTATION OF ANY FACTS AND DETAILS FROM THIRD PARTIES. WE ADVISE INDIVIDUALS TO CHECK DETAILS DIRECTLY AT THE THIRD PARTY SOURCE IF REQUIRED.* **Categories:** Uncategorised --- ### [LDV T60 Trailrider Ute: Worth a Look?](https://www.jadecarloans.com.au/blog/ldv-t60-trailrider-ute-worth-a-look) **Published:** August 14, 2020 **Author:** Publisher **Content:** The ute market in Australia is huge with many options for businesses looking for a workhorse to handle their daily duties. [Holden Colorado](https://www.holden.com.au/cars/colorado "Holden Colorado: Discover the Powerful and Versatile Pickup"), [VW Amarok](https://www.volkswagen.com.au/en/models/amarok.html "VW Amarok: Unleash Adventure with the Ultimate Pickup"), Nissan Navara, Ford Ranger, Isuzu, Raptor and even [Mercedes-Benz](https://www.mercedes-benz.com.au/vans/en/x-class "VW Amarok: Unleash Adventure with the Ultimate Pickup") offer very popular utes in their ranges. But as manufacturers compete for your business, many are including a wide range of the latest tech and comfort features which, while being appreciated, may significantly add to the price tag. With many businesses under cost pressures or at the very least being cost conscious in these challenging times, price is an important purchase factor. Considering the current [business car loan rates](/car-finance-interest-rates "Unlock Competitive Commercial Vehicle Finance Rates Today") can help businesses strategize their financing decisions. For self-employed operators, the cost of having a work vehicle and a separate car as their private driver is often not a viable option. The LDV T60 Trailrider may tick a lot of boxes for a lot of buyers. The price is in the lower range compared with many other manufacturers and when purchased with a [jade car finance](/ "Experience Excellence with Jade Car Finance Solutions") deal from Jade Car Loans, that price is even more appealing. We take a quick look at the T60 to see if it ticks your boxes. ## Features Overview LDV is a Chinese car manufacturer which They first launched the T60 ute in 2017 but the new 2020 model, known as the Trailrider 2, has a more powerful yet smaller engine and several significant improvements on earlier models. The T60 Trailrider 2 has a 4 cylinder, 2 litre D20 turbo diesel with 6 speed transmission and the design and style appointments can make the T60 quite acceptable for weekend recreational activities. The stylish sports bar in matte black, accent design elements 19” alloy wheels and a choice of 5 different colours add to the aesthetic appeal. The seating is comfortable and heated, and a 10” touchscreen should be an assistance with connectivity and efficiently getting on with your work. The interior tends to suggest a much higher price than the currently advertised. Safety is well-considered with 6 airbags and loads of other inclusions such as blind spot monitoring on various models and a [5 Star ANCAP Rating](https://www.ancap.com.au/safety-ratings-explained "Explore the Importance of a 5 Star ANCAP Rating") from the original 2017 model. This is a 4 door ute so the rear seating can take workmates or drop the kids at school. The load space is nearly 1500 mm x 1131 mm and is lined to protect the paintwork. There is another model in the T60 range – the Mega Tub Ute, for those who need to haul larger items. But what is attracting a lot of attention is the price tag which can come in under $40,000 for business buyers. When compared with many others in this category which start around the $60,000 mark, the T60 price tag might be ticking some of your most important boxes. What does that price tag equate to in monthly repayments on a Jade Car Loan? For a rough ballpark estimate, head over to our car loans calculator. ## Calculating T60 Repayments The [Business car loan calculator](/car-finance-calculator) allows you to get rough estimates on any vehicle in a few seconds. While only an estimate and no indication of a loan offer, it’s a great implement to have in your ute buying tool kit. It’s easy to use and by varying the loan term and balloon/residual, you can see how the repayments may change. Great resource for formulating your loan requirements before speaking with a Jade Car Loans consultant and great for getting quick comparisons on any number of utes you may be considering. ## Finance for Your LDV Trailrider 2 The drive away price currently advertised on the LDV website for the Trailrider 2 is highly competitive when compared with many other utes with similar specs. But if you purchase your T60 with an expensive loan or a finance deal that hasn’t been structured to meet your specs, then you may lose that cost saving advantage. Jade Car Loans provides cheap business finance for utes that are tailored to suit your business structure and objectives and based on our better interest rates commitment. We advise that you speak with your accountant as to which is the best loan type for your business set-up. Jade Car Loans business loans include: - Ute Leasing - [Business car finance](/business-car-finance "Drive Your Business Forward with Reliable Commercial Vehicle Financing") - [Hire Purchase Car](/commercial-hire-purchase "Unlock Your Business Possibilities with a Hire Purchase Car") (CHP) While each loan type has varying benefits regarding tax and other accounting benefits, every Jade loan includes:- - Cheap interest rates - Fixed interest rate - Fixed loan term - Fixed repayments - Fixed balloon/residual ## Tailored Solutions Your Jade consultant will negotiate the best rates from our panel of many lenders and will structure the loan to best suit your requirements. We’ll handle the hassle to save you time and score you a better T60 Trailrider finance package. Speak with Jade about pre-approved finance before you talk with the dealer so you’re ready to commit and get your ute ASAP. If you have credit issues, low docs or no docs, Jade Car Loans may be able to assist. So please give us a call and have a conversation. **If the LDV Trailerider 2 ticks your boxes, speak with a Jade Car Loans consultant at 1300 000 003 for a firm quote on your finances.** DISCLAIMER: ALL INFORMATION PRESENTED IN THESE ARTICLES IS FOR GENERAL INFORMATIONAL PURPOSES AND BUSINESSES AND INDIVIDUALS SHOULD SEEK INDEPENDENT FINANCIAL ADVICE IN REGARD TO THEIR OWN FINANCIAL DECISIONS AND CIRCUMSTANCES. DETAILS ON GOVERNMENT MEASURES, POLICIES AND GUIDELINES AND VEHICLE DETAILS AND SPECS HAVE BEEN SOURCED FROM PUBLICLY AVAILABLE WEBSITES AND SOURCES. LIABILITY IS NOT ACCEPTED FOR ERRORS IN THE *INTERPRETATION OR PRESENTATION OF ANY FACTS AND DETAILS FROM THIRD PARTIES. WE ADVISE INDIVIDUALS TO CHECK DETAILS DIRECTLY AT THE THIRD PARTY SOURCE IF REQUIRED.* **Categories:** Uncategorised --- ### [Ford Everest: Workable SUV](https://www.jadecarloans.com.au/blog/ford-everest-workable-suv) **Published:** August 17, 2020 **Author:** Publisher **Content:** While the [Ford Ranger](https://www.ford.com.au/commercial/ranger/ "Discover the Ford Ranger: Built Tough for Every Adventure") consistently makes the top selling vehicles list, the 2020 Ford Everest could also be worth a good look. An SUV with many of the features and capabilities of a ute makes for an ideal business family come recreational vehicle. Big towing capacity on some variations to tow your trailer and equipment to the worksite, hands-free tailgate operation for easy loading and unloading customer orders and supplies and seating for 5 or 7 so you can transport the entire crew to the job – the [Everest](https://www.ford.com.au/suv/everest/ "SUV Everest") ticks a lot of business vehicle boxes. For tradespeople, comms and tech service crews, on-site vehicles for mining and construction or for general business operators that have loads of customer orders to deliver and supplies to collect the Everest could be the SUV that does it for you. For the family, it has plenty of space, up to 7 seats, and a cargo area for all the gear you need to take on daily errands and on holidays. Jade Car Loans can add to that by ticking the cost-effective box with our [jade car loans](/ "Unlock Your Possibilities with Jade Car Loans"). ## Select Your Everest Model As with most vehicles these days, the Everest offers buyers a range of choices across models, engines and other features and options. Essentially there are 3 models: Ambiente, Trend and Titanium and within those, several variations are available. ### Ambiente The Ambiente features the 3.2 litre 5-cylinder diesel engine with 6 speed auto transmission and comes in either RWD or 4WD. This may be the standard or most basic model in the Everest range, but it is not lacking in standard inclusions. Many features such as 7 airbags, autonomous emergency braking, electronic power assisted steering, anti-lock braking system and running boards are just some of the standard inclusions across all Everest models. The Ambiente has 5 seats with the optional third row. ### Trend The Everest Trend gives buyers several choices. In engines, select from the 4WD 3.2 litre 5 cylinder diesel with the 6 speed transmission or the 2.0 litre Bi-turbo 4 cylinder diesel with 10-speed transmission. The Bi-turbo option also gives you the choice of RWD or 4WD. The Trend is a 7 seater and has some striking luxury leather appointments. ### Titanium The Everest Titanium is the top of the range model with the 4WD 2.0 litre Bi-turbo 4 cylinder diesel with 10 speed transmission engine. This is also a 7 seater and has extras such as the huge sunroof. The 4WD models include the terrain management system which allows drivers to switch driving modes to suit the surface. As if that isn’t enough choices, Ford also offers you a wide range of colour options on the Everest range. Across all models, the interior comfort is well-addressed to get you through your busy day with ease. Ford also offers a range of factory-fitted accessories and options to customise your Everest to specifically suit your requirements. To see how these accessories may affect your Jade car loan repayments or to compare repayment estimates across the range, head to our [commercial car finance calculator](/car-finance-calculator "Plan Your Path with the Business car loan Calculator"). It’s free to use and will quickly give you a rough ballpark estimate on monthly repayments at our current low interest rate. Note that there are different interest rates for consumer and business car loans. Ensure you enter the correct interest rate when using the calculator. ## Select Your Everest Finance Plenty of choices to get the Everest that matches your needs and Jade Car Loans also gives you plenty of options when it comes to financing your Everest. Secured Car Loans for private buyers. Our cheap car loans are legendary and at our better interest rates, your Jade consultant can quickly get you organised with a great Everest car loan for your personal use. This loan type has a fixed interest rate, fixed repayments and a fixed loan term. ## Business Finance Options Jade Car Loans offers those buying an Everest for use in their business, a full selection of business vehicle finance products. Our Everest finance is available for SMEs, large corporations, sole traders and owner-operator small enterprises. Your Jade consultant will structure a finance package to suit your requirements but we recommend that you check with your accountant as to which loan type is preferable for your set-up. - [Business car finance](/business-car-finance "business car loan") - [Sole trader car finance](/car-chattel-mortgage "sole trader car loan") - [ABN car finance](/abn-car-loan "abn car loan") - [Commercial car finance rates](/car-finance-interest-rates "business car loan rates") You can review all the features and benefits of each of these finance facilities on our web pages. They vary in some aspects but all have:- - Our cheap Jade interest rates - Fixed terms, fixed repayments and fixed interest rates - Option for balloon or residual - No deposit finance possible If you need some assistance in deciding exactly which Ford Everest you will choose, why not call us for a quick quote on the different models? **For a quote or to proceed with finance on a Ford Everest, contact Jade Car Loans and one of our consultants will assist you 1300 000 003** DISCLAIMER: ALL INFORMATION PRESENTED IN THESE ARTICLES IS FOR GENERAL INFORMATIONAL PURPOSES AND BUSINESSES AND INDIVIDUALS SHOULD SEEK INDEPENDENT FINANCIAL ADVICE IN REGARD TO THEIR OWN FINANCIAL DECISIONS AND CIRCUMSTANCES. DETAILS ON GOVERNMENT MEASURES, POLICIES AND GUIDELINES AND VEHICLE DETAILS AND SPECS HAVE BEEN SOURCED FROM PUBLICLY AVAILABLE WEBSITES AND SOURCES. LIABILITY IS NOT ACCEPTED FOR ERRORS IN THE *INTERPRETATION OR PRESENTATION OF ANY FACTS AND DETAILS FROM THIRD PARTIES. WE ADVISE INDIVIDUALS TO CHECK DETAILS DIRECTLY AT THE THIRD PARTY SOURCE IF REQUIRED.* **Categories:** Uncategorised --- ### [Paying out a Balloon or Residual](https://www.jadecarloans.com.au/blog/paying-out-a-balloon-or-residual) **Published:** August 17, 2020 **Author:** Publisher **Content:** When purchasing a car for business use, buyers have the option of a number of commercial finance products – Chattel Mortgage, Commercial Hire Purchase and Leasing. One of the key features of these business finance products is the option for a balloon or a residual. This is an amount of the vehicle purchase price or total loan amount which is not included in calculating the monthly repayments but is due for payment in full at the end of the loan term. It is usually represented or calculated as a percentage of the purchase price and is fixed at the time of arranging the finance deal. For Chattel Mortgage and Commercial Hire Purchase it is called a balloon amount and for leasing it is called a residual. Opting for a balloon/residual reduces the monthly repayment amounts. Use our car loans calculator to see how the balloon/residual reduces the estimated monthly payments. This feature is not offered on personal car loans, it is only available for [cheap business car loans](/business-car-finance). ## Setting the Balloon/Residual While it may be tempting to set a very large balloon so you have much lower monthly repayments, there are considerations! Some lenders may have requirements in regard to the amount of the balloon which may be determined by the age/condition of the car and the loan term. In regard to a residual with car leasing, the amount is set by the ATO and is based on the lease term and the age of the car. When arranging your car finance, your [Jade Car Loans](/) consultant will work towards structuring your loan to suit your individual business requirements. However, it is always advisable to consult with your accountant re your finance objectives. If you would like lower monthly repayments to ease cash flow pressures then opting for a larger balloon will allow this. Using a [business car loan calculator](/car-finance-calculator "Explore Your Options with the Commercial Car Finance Calculator") can help you assess different scenarios and their impact on repayments. If you prefer to pay off more of the loan faster with higher monthly payments, then opting for a lower balloon will achieve this objective. When setting a balloon, be mindful of the projected value of the car at the end of the loan term otherwise you will owe more than the car is worth when paying out the balloon. ## Payment Due Schedule The balloon/residual is deferred for payment at the end of the lease term after all monthly payments have been finalised. In your finance contract, the details of the amount payable and the date due should be itemised. You may receive a notification from your lender in the lead-up to this due date or you may have to plan ahead to arrange the payout. When establishing the direct debit for your monthly loan payments, the balloon/residual is usually not included on the direct debit, subject to individual requirements. If you trade in or sell the car prior to the end of the loan term, contact your lender to request a ‘pay-out’ figure. This will include the balloon/residual and any outstanding monthly payments and any fees and charges. ## Paying Out Options If you choose to trade-in the car at the end of the loan term but before you pay the balloon/residual, you should advise the car dealer of the amount that is outstanding on the car. They can then factor that in when offering you a trade-in price. For those who have opted for a [low doc business car loan](/low-docs-car-loans-for-business-vehicles "Unlock Your Business Potential with a Minimal Documentation Commercial Vehicle Financing"), ensuring clarity in all transactions is crucial. If you choose to trade-in, the dealer usually may pay out the balloon/residual in the sales process in changing-over to the new car. If you choose to sell the car outright, especially when using [no doc car financing](/no-docs-car-loans-for-business-vehicles "Flexible Zero Documentation Vehicle loan Solutions for Your Business Needs"), you will need to finalise the balloon/residual with the lender prior to transferring ownership and registration to the new owner. You may choose to use your cash resources to pay out the balloon/residual direct to the lender when it is use. Alternatively, Jade Car Loans offers a number of finance options you may like to consider:- ## Refinance With a New Car Loan Speak with your Jade consultant about setting up a new motor vehicle finance deal for the amount of the balloon/residual. This will involve the same process as establishing the initial loan. You have the choice of commercial finance products – Leasing, Chattel Mortgage or CHP. Your consultant will source you a quote at our current low interest rates. Some lenders have minimum amounts for financing car loans. When considering a [new commercial car loan](/new-car-finance "Explore Our New Business Vehicle Financing Options"), your Jade consultant will source a lender that does finance that amount or will offer you another of our options. ## Business Loan If your balloon is below lender minimums for car finance or for some other reason a secured finance through a commercial car finance product is not achievable, discuss the option of a Secured or Unsecured Business Loan with your consultant. This type of business finance is structured by your Jade consultant at our low interest rates and with repayments to suit your requirements. ## Business Overdraft If commercial vehicle finance or business loan do not meet your requirements, another option that Jade can possibly offer you is an overdraft facility. You Jade consultant may be able to arrange an overdraft either with your existing bank or through one of our non-bank lenders. If the balloon/residual is relatively low and you anticipate you will be in a position to clear it in a relatively short time, this may be a more workable solution. Jade Car Loans provides a wide range of financial solutions for the purchase of business vehicles and your Jade consultant is ready to assist you. **To discuss finance for a balloon or residual, speak with a Jade Car Loans consultant at 1300 000 003.** *DISCLAIMER: ALL INFORMATION PRESENTED IN THESE ARTICLES IS FOR GENERAL INFORMATIONAL PURPOSES AND BUSINESSES AND INDIVIDUALS SHOULD SEEK INDEPENDENT FINANCIAL ADVICE IN REGARD TO THEIR OWN FINANCIAL DECISIONS AND CIRCUMSTANCES. DETAILS ON GOVERNMENT MEASURES, POLICIES AND GUIDELINES AND VEHICLE DETAILS AND SPECS HAVE BEEN SOURCED FROM PUBLICLY AVAILABLE WEBSITES AND SOURCES. LIABILITY IS NOT ACCEPTED FOR ERRORS IN THE INTERPRETATION OR PRESENTATION OF ANY FACTS AND DETAILS FROM THIRD PARTIES. WE ADVISE INDIVIDUALS TO CHECK DETAILS DIRECTLY AT THE THIRD PARTY SOURCE IF REQUIRED.* **Categories:** Uncategorised --- ### [Car Loans: When the bank says NO!](https://www.jadecarloans.com.au/blog/car-loans-when-the-bank-says-no) **Published:** August 25, 2020 **Author:** Publisher **Content:** So you’re in the market for a new car. You do your research, find the best offer on the vehicle you want and negotiate a great deal with the seller. You’re all ready to settle the purchase you just need the finance. So you apply for a loan from your bank and…whoops, the bank rejects your loan application. You’ve got the dealer or private seller waiting for payment on the car and your plan to pay for it has fallen through. Unfortunately, this scenario plays out quite often across Australia for businesses and individuals buying cars for either their private use or to use in their business. It can be a very stressful situation and may lead to significant negative long-term outcomes for those that then, in desperation, grab a high-cost, high interest rate loan from a less than reputable lender. The good news – at [Jade Car Loans](/ "Discover Jade Car Loans Solutions"), as a highly reputable and professional finance broker we may be in a position to assist with both options to secure you an affordable car loan and advice on how to avoid this situation happening to you. ## What next? - Many people will swiftly move on to apply for a loan through another lender and yes, there are many lenders offering motor vehicle finance. The downsides however should be considered. Each time you apply for a loan the lender is required to record that application request on your [credit profile](https://www.equifax.com.au/sites/default/files/EFX_credit-profile-infographic.pdf "Explore Your Credit Profile"). Having a lot of requests for the same loan in your credit history can be viewed negatively by lenders and have long-term impacts on your ability to get credit. - If you find yourself in the position of having a car loan application rejected by your bank, the first thing you should do is ask for the reason(s) why your application was not accepted. That will give you key information to either address those issues yourself before proceeding to apply to another lender or have the required background to brief a finance broker to assist you. - If you choose to proceed yourself, if the reasons relate to issues with your credit profile, you can address those issues and try to fix your credit report. - Is it you or the car you are buying? Some banks and other lenders do have minimum and maximum amounts that they will lend for car loans. - As professionals in sourcing car loans for our customers, our advice is simple – contact a finance broker such as Jade Car Loans to assist you and handle your finance requirements. What can a broker do to help? Won’t the bank just reject their request too? Not necessarily. We explain. ## Jade Car Loans Benefits As a finance broker, Jade Car Loans is accredited with multiple lenders, which includes the major banks and other non-bank lenders. While most banks have strict car loan guidelines which they are not in a position to vary, Jade has access to other lenders whose guidelines may be more in line with your application. When your Jade broker approaches several lenders on your behalf to source the best car loan offer, this process does not impact your credit profile in the way that approaching multiple lenders yourself will. As we work closely with the banks we know how their systems work and what guidelines each application must meet to be accepted. Your Jade broker will work with you to best structure your application to suit the specific guidelines of an individual bank or lender. Your Jade broker is working on your behalf and will present your application and wherever possible, negotiate the conditions and of course the cheapest interest rate. er ## Options for Business Vehicle Buyers For businesses that have been rejected by a bank for a [business car finance](/business-car-finance "business vehicle finance"), Jade Car Loans has several finance options that may achieve a positive outcome for you. These include:- - No docs and [low doc car loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles") for businesses that do not have all the financial documentation requested by the bank. - Bad credit loans: Due to our large number of lenders, we may be able to source an offer for businesses with credit issues. - ABN only loans: Not all banks will offer car finance to businesses with essentially only an ABN. Jade offers [ABN car loans](/abn-car-loan "ABN Car Loans: Get Financing for Your Business Vehicle") through a selection of our lenders, subject of course to certain conditions. When your Jade broker does achieve a successful result for you by way of a car loan offer, this can be applied to our full range of commercial finance products, which include:- - Car Leasing - Chattel Mortgage - Commercial Hire Purchase ## Options for Private Car Buyers For individuals who have had a car loan application rejected by the bank, one of our Jade Car Loans consultants will work with you to identify the issues, where possible address and fix the issues and strive to source you a Secured Car Loan through one of our many lenders. By doing so, we aim to get you the best [commercial car loan rates](/car-finance-interest-rates "Business Vehicle Loan Rates: Competitive Financing Options") available in the market. One of the best pieces of advice we can offer – before you start car shopping, especially for [car loans for sole traders](/car-chattel-mortgage "Car Loans for Sole Traders: Tailored Financing Solutions"), review your credit profile to ensure it is in good order. If there are issues, take the necessary steps to repair your profile. Contact Jade Car Loans before any other lenders and before you discuss a car deal. Your consultant can source you an offer and arrange a pre-approved car loan so you know you’re organised even before you decide on the vehicle. **If the bank has said NO to you, contact Jade Car Loans and discuss your options with one of our consultants 1300 000 003** *DISCLAIMER: THE PURPOSE OF THE INFORMATION PRESENTED IS FOR GENERAL INFORMATION AND NOT INTENDED AS FINANCIAL ADVICE AND SHOULD NOT BE USED AS THE SOLE SOURCE FOR MAKING FINANCIAL OR PURCHASE DECISIONS. THOSE WHO FEEL THEY REQUIRE ADDITIONAL GUIDANCE SHOULD SEEK OUT THE ASSISTANCE OF AN INDEPENDENT, PROFESSIONAL FINANCIAL ADVISOR. ALL DETAILS, INFORMATION, FACTS AND SPECS IN REGARD TO GOODS AND SERVICES AND IN REGARD TO GOVERNMENT POLICIES AND MEASURES HAVE BEEN SOURCED DIRECTLY FROM RESOURCES IN THE PUBLIC DOMAIN. NO LIABILITY IS ACCEPTED IN REGARD TO THE PRESENTATION OR THE INTERPRETATION OF THIS INFORMATION. IF INDIVIDUALS REQUIRE VERIFICATION, WE ADVISE THEM TO REFER TO THE THIRD PARTY RESOURCE.* **Categories:** Uncategorised --- ### [Top Selling Commercial Vans](https://www.jadecarloans.com.au/blog/top-selling-commercial-vans) **Published:** August 28, 2020 **Author:** Publisher **Content:** While the big trucks and interstate hauliers have received most of the accolades for keeping essential goods moving throughout the coronavirus pandemic, we acknowledge delivery van operators as the humble heroes of the day-to-day economy. The van, usually white and often emblazoned with company signage are one of the most popular vehicles on the road. Not surprising as vans are extremely versatile. Suitable for fitting out for a wide range of cargo requirements, for specialist services such as service technicians and for people movers. Vans are categorised into three main classes: compact, medium and big with medium dominating the market. A medium sized can is classified with a GVM of 2500-3500 kg. [Jade Car Loans](/ "Jade Car Loans: Your Vehicle Financing Solution") provides finance for the full range of commercial vans with our full range of commercial finance products – Chattel Mortgage, Van Leasing and Commercial Hire Purchase for Commercial Vans. From the large number of our customers that we assist each year with cheap van loans, we’re well aware that many buyers are looking to get a good 10 years work life from their van. So many elements of the van are considered in detail to ensure they are buying well and then we back them up with cost-effective motor vehicle finance to work towards achieving their expected ROI. To assist new buyers, especially those considering[ low doc business car loan](/low-docs-car-loans-for-business-vehicles "Low Documentation Business Car Loan: Hassle-Free Financing for Commercial Vehicles") options or [no doc car loans in Australia](/no-docs-car-loans-for-business-vehicles "Zero Documentation Car Loans in Australia: Flexible Financing Solutions for Business Vehicles"), we sought out the stats on what vans have been the top sellers in recent years. We then went a step further and checked in on several motoring reviews to get the opinion of expert vehicle reviewers on what they think are the best vans. We share that information to assist in your purchase decisions. ## Top Sellers, Best Reviews Not surprisingly, a Toyota vehicle has topped the commercial van selling stats for the past few years. We say unsurprising, as Toyota also tops the latest July 2020 sales figures for passenger cars and has just been knocked off the top spot for light commercial vehicles for the first time in ages. The [Federal Chamber of Automotive Industries](https://www.fcai.com.au/ "Federal Chamber of Automotive Industries (FCAI): Leading the Automotive Industry in Australia") (FCAI) routinely publish the sales figures for all vehicle categories and they report that in 2019, the top-selling commercial vans were:- 1. [Toyota Hiace](https://www.toyota.com.au/hiace) 2. [Hyundai iLoad](https://www.hyundai.com/au/en/cars/people-movers-and-commercial/iload) 3. Ford Transit Custom 4. [Volkswagen Caddy](https://www.volkswagen.com.au/en/models/caddy-van.html) 5. Renault Kangoo To give you a wider scope to browse…looking back to 2018/19, the [Mercedes-Benz Sprinter](https://www.mercedes-benz.com.au/vans/en/sprinter "Mercedes-Benz Sprinter: Unleash Your Business Potential"), Volkswagen Crafter, LDV G10 and Renault Master also appeared in the top 10 best-selling van lists. These ratings are based on actual new vehicle sales numbers. But what do the reviewers think are the best vans available in Australia? We took a rough ‘poll’ of several reviews published on several motoring websites where expert reviewers have test-driven several vans and given their opinions. The results are very much in line with sales figures with the consensus that Ford Transit, Toyota HiAce and Hyundai iLoad came out on top. You may have your preference regarding van brands based on experience. But if you’re comparing vans, use our [commercial car loan calculator](/car-finance-calculator) to compare rough estimates on repayments across different models. ## Securing Your Van In deciding on which van is best suited to your business, having knowledge of top sellers and best reviews is useful. But astute buyers will be looking closely at key features and specs, especially those that impact running costs including fuel consumption and servicing expenses. Other key considerations are in the areas of safety and driver assistance. A range of these features are increasingly being included as standard on commercial vehicles. Many not only contribute to driver, passenger and road user safety but may also contribute to your bottom line in fewer repairs for the occasional ding. Keep an eye out for:- - [Autonomous emergency braking](https://www.carsguide.com.au/car-advice/what-is-autonomous-emergency-braking-or-aeb-51459 "Autonomous Emergency Braking: Enhancing Vehicle Safety") (AEB) and collision mitigation systems. - Blind Spot Monitoring assists the driver. - Rear view cameras and parking sensors are being seen more often on commercial vehicles and can be extremely helpful, especially when manoeuvring in loading docks, down tight access roads and when parking is at a premium. - Speed limiting and cruise control systems can be a godsend in limiting the number of traffic infringements that you or your staff acquire. That can be a massive cost saving. But one of the key factors in securing a cost-effective van that works towards your business goals is sourcing the cheapest van finance deal. Jade Car Loans can assist with our better interest rate deals sourced from our large panel of lenders. Contact us for [new business vehicle finance](/new-car-finance "New Business Vehicle Finance: Explore Your Options") before you start speaking with a van dealer so we can organise your pre-approved finance. This will enable you to match the van to what you want to spend and possibly not get tempted to upgrade to a model that may put pressure on your cash flow. Whichever top-selling van you decide on, your Jade Car Loans consultant will add value to the deal with a [cheap business car loan](/business-car-finance) deal, structured to suit your specific requirements. **To discuss finance on a commercial van, speak with a Jade Car Loans consultant at 1300 000 003.** *DISCLAIMER: THE PURPOSE OF THE INFORMATION PRESENTED IS FOR GENERAL INFORMATION AND NOT INTENDED AS FINANCIAL ADVICE AND SHOULD NOT BE USED AS THE SOLE SOURCE FOR MAKING FINANCIAL OR PURCHASE DECISIONS. THOSE WHO FEEL THEY REQUIRE ADDITIONAL GUIDANCE SHOULD SEEK OUT THE ASSISTANCE OF AN INDEPENDENT, PROFESSIONAL FINANCIAL ADVISOR. ALL DETAILS, INFORMATION, FACTS AND SPECS IN REGARD TO GOODS AND SERVICES AND IN REGARD TO GOVERNMENT POLICIES AND MEASURES HAVE BEEN SOURCED DIRECTLY FROM RESOURCES IN THE PUBLIC DOMAIN. NO LIABILITY IS ACCEPTED IN REGARD TO THE PRESENTATION OR THE INTERPRETATION OF THIS INFORMATION. IF INDIVIDUALS REQUIRE VERIFICATION, WE ADVISE THEM TO REFER TO THE THIRD PARTY RESOURCE.* **Categories:** Uncategorised --- ### [Car Awards: Guide to Buying a 'Car of the Year'](https://www.jadecarloans.com.au/blog/car-awards-guide-to-buying-a-car-of-the-year) **Published:** September 1, 2020 **Author:** Publisher **Content:** The motor vehicle market is extensive, and even within one manufacturer’s range, there can be multiple variants of each model. Differentiating between each car can be challenging and confusing to buyers, especially when considering [business car loan rates](/car-finance-interest-rates "Discover Competitive Rates for Business Car Loans"). There are many different strategies and processes that people use to decide which car they are going to buy. Some go for price, some for function, some stay loyal to a trusted brand, and some put their trust in the judges and purchase vehicles that have received awards. Car makers appear to highly covet their awards, using the ‘car of the year’ badges in their advertising to attract buyers. Why wouldn’t someone want to own the ‘car of the year’? At [Jade Car Loans](/) we know that many people select a car based on the awards and reviews from the experts. So what should you know about car awards before you make that all-important purchase decision, especially if you’re considering [ABN car finance](/abn-car-loan "Drive Your Business Forward: ABN Car Financing Solutions")? Who are the judges? What are the criteria? What cars are included? Is it a transparent process? Are all cars in a category considered? Yes, there are a lot of issues to consider. Jade Car Loans has taken at least a shallow dive if not a deep dive, into the somewhat mysterious world of car awards to provide our customers with a level of enlightenment. ## Car Awards Programs It doesn’t take much of a search to reveal that there are several different car awards programs. To be clear, car awards are different from top selling cars. The top selling lists that are routinely released by the automotive industry are based on actual sales of new cars in different categories. Car awards are judged by a panel and according to the process and criteria determined by the organisation running the awards program. So, when considering a [car loan for business](/business-car-finance "Empower Your Business with Dedicated Vehicle Financing"), it’s essential to note that a highly awarded car may not necessarily be a top seller and vice versa. In Australia, some of the more well-known car awards programs are run by Drive, [Wheels magazine](https://www.whichcar.com.au/wheels "Explore the World of Automobiles with Wheels Magazine") and motoring organisation programs such as Australia’s Best Cars run by RACQ. Globally, there are many more including the World Car Awards which is judged by international automotive journalists representing 24 countries. ## Considerations Some of the important issues to consider regarding car awards are:- - Judging criteria: On what basis are the cars evaluated and judged is critical to your evaluation as to whether your car selection criteria matches that of the award. - Judges: Checking out who was involved in selecting the winners may also provide some enlightenment as to whether or not you can relate to the judges’ decision. - Who entered: Look into whether entry is a voluntary decision or compulsory for all new cars released onto the Australian market in that year. Do car makers have to nominate their vehicles for judging? This is very important because which cars weren’t included may be relevant to you. - Region: The World Car of the year may not be relevant in Australia as the cars judged may be in specs available on local models and some of the entries may not be available in this country. When deciding whether or not to buy a ‘car of the year’ it may be wise to stay objective and weigh up the judges’ decisions based on your motoring requirements. You may have a different set of criteria for making your purchase decisions. ## Current Cars of the Year And the winner is…..we’ve collated a few of the current award holders for your consideration. ## Drive Car of the Year The motoring experts selected by Drive judge cars across multiple categories and you can view the full list of finalists and winners at [https://www.drive.com.au/drive-car-of-the-year](https://www.drive.com.au/drive-car-of-the-year "Experience Excellence: Drive Car of the Year Awards"). Here’s a selection of a few category winners for 2020: – - Best City Car: Golf Polo GTI - Best Small Car: Mazda 3 G25 GT Sedan - Best Medium Luxury Car: BMW 330i - Best Medium SUV: Toyota RAV4 Hybrid GX 2WD - Best Large Luxury SUV: BMW X5 xDrive 30d - Best Dual Cab Ute: Ford Ranger XLS ## Wheels Car of the Year In 2018 and 2019 Volvo took out the Wheels Car of the Year award. Read all the details on how this award is judged and who are the judges at [https://www.whichcar.com.au/wheels/events/coty](https://www.whichcar.com.au/wheels/events/coty "WhichCar Wheels: Celebrating the Car of the Year Event") Finalists for 2020: Mazda 3, Mercedes-Benz EQC, Porsche 992 911, Tesla Model 3 and the Toyota RAV 4 with the winner decided as Mercedes-Benz EQC. ## Australia’s Best Cars – RACQ Find out previous winners and how this award is judged at [https://www.racq.com.au/cars-and-driving/cars/car-reviews/australias-best-cars](https://www.racq.com.au/cars-and-driving/cars/car-reviews/australias-best-cars "Award-Winning Cars: RACQ's Selection of Australia's Finest Vehicles") These awards also have numerous categories and 2019 winners include BMW 330i, Mazda CX-8 Sport, Toyota HiLux CX5 and like other awards, the Toyota RAV 4 also won in its category. ## Finance to Buy a Car of the Year You’ll have plenty of considerations if you want to assess your ‘car of the year’ to purchase but when it comes to finance, the decision is easy – just call Jade Car Loans. If you’re a sole trader, ask about our [sole trader car loan](/car-chattel-mortgage "Explore Car Loan Options for Sole Traders: Chattel Mortgage Information") options. One of our consultants will arrange your loan. Good news – we don’t discriminate. Our cheap car loans with our better interest rate guarantee are available for all cars, regardless of whether they have received a gong or not. To compare your possible monthly repayments on various car of the year winners, simply use our [business car loan calculator](/car-finance-calculator). Or contact Jade for a quick quote. **For a cheap car loan quote on a car of the year, contact Jade Car Loans and discuss your options with one of our consultants at 1300 000 003** *DISCLAIMER: THE INFORMATION IN OUR ARTICLES IS PROVIDED FOR GENERAL INFORMATION PURPOSES AND IN NO WAY IS INTENDED AS THE SOLE SOURCE TO MAKE FINANCIAL DECISIONS OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION. INDIVIDUALS ARE RECOMMENDED TO REFER TO THEIR FINANCIAL ADVISOR OR SEEK ADDITIONAL INDEPENDENT ADVICE IF THEY CONSIDER THEY REQUIRE SO. THE INFORMATION PRESENTED IN REGARD TO GOODS HAS BEEN SOURCED FROM MANUFACTURER AND SUPPLIER SOURCES AND IN REGARD TO GOVERNMENT AND ATO POLICIES AND PROGRAMS FROM RELIABLE SOURCES. NO LIABILITY IS ACCEPTED IF ERRORS HAVE BEEN MADE IN PRESENTING OR INTERPRETING THE INFORMATION AS PRESENTED.* **Categories:** Uncategorised --- ### [Volkswagen Van Choice: Crafter or Caddy?](https://www.jadecarloans.com.au/blog/volkswagen-van-choice-crafter-or-caddy) **Published:** September 5, 2020 **Author:** Publisher **Content:** A major consideration for buyers in the market for a new commercial van is size. Big or small. Both offer benefits depending on your business operation, what you need to transport and where you need to transport it. Small can be more agile and fuel efficient and less expensive to purchase but limit the amount of cargo. Large offers more scope for larger loads but perhaps presents issues around getting into tight loading docks. At [Jade Car Loans](/ "Explore Financing Options with Jade Auto Financing") size is also an issue – the size of the interest rate we source in your commercial van loan offer. We work towards achieving the smallest, lowest interest rate to ensure we deliver a cheap loan offer for whatever the size of the van you’re purchasing. Appearing in the top selling commercial van lists over the past few years are two offerings from Volkswagen that give buyers a choice when it comes to size. The [Volkswagen Crafter](https://www.volkswagen.com.au/en/models/crafter-van.html "Discover the Volkswagen Crafter: Versatile Van Excellence") and the Volkswagen Caddy. Let’s check out how each may stack up for your daily work duties. ## VW Caddy: Snapshot The [VW Caddy](https://www.volkswagen.com.au/en/models/caddy-van.html "Explore the VW Caddy: Innovative and Practical Van Solution") could be your new ‘silent’ business partner. This functional, agile and smart-looking van has the potential to tick a lot of boxes for many business operators. Florists who head to the markets and make customer deliveries; café and restaurant operators that insist on selecting and purchasing their fresh produce at the markets; sparkies and other small-scale tradies; general businesses that deliver orders directly to their customers; newsagents doing the daily paper run; city couriers that want a smaller vehicle to nab those prized and increasingly rare parking spots to speed up their daily schedule; and many others. The Caddy offers a range of wheelbase and seating configurations across the model range and several customisable options to make your van truly suit your business needs. The short wheelbase is the standard Caddy Van with two seats and the longer wheelbase is the Maxi. There is also a 5 seater Crewvan available. Although considered a small van, the Caddy has an impressive load capacity range of 3.2 cubic metres to 4.2 cubic metres with a payload range of 740-842 kg depending on the wheelbase. This little gem is powered by a 1.4 litre petrol or 2.0 litre diesel engine. Loading features provide convenience and VW offers several options such as extra sliding doors and a tailgate that lifts, to suit specific applications. The safety boxes are well and truly ticked with airbags and driver assist features and if you get stuck in traffic, the infotainment system should keep you entertained and connected. Interested? VW has a ‘build and price’ option on their website which you can then utilise to generate an estimate of possible loan repayments with the [business car loan calculator](/car-finance-calculator "Plan Your Business Car Financing with our Loan Calculator"). ## VW Crafter: Top Seller If your work tasks require something larger, perhaps the Crafter is better suited to your business. Appearing in the top selling lists, many business operators have already decided that this is the vehicle for them. Why? Check out just a few of the features:- - Available in medium, long and extra-long wheelbase models offering load volume from 9.9s cubic metres to 14.4 and right up to 18.43 cubic metres. - Different roof height options. - Side sliding door and rear barn door. - 0 litre diesel engine with 6 or 8 speed transmission. - Rear view cameras, parking sensors and heaps of other safety features. - Cabin comfort and convenience with storage, adjustable comfort seat and connectivity. The Crafter is sure to suit many of our Jade Car Loans customers, especially those considering [low doc car finance](/low-docs-car-loans-for-business-vehicles "Flexible Financing Solutions: Low Documentation Car Loans for Business Vehicles") options. Trades and service techs who need to set up the load space for tools, diagnostic equipment and all the fittings, fixings, and fasteners required for on-site jobs. Art dealers, props businesses, and event organisers that need to deliver large items to customers and venues. Couriers with larger parcels on this delivery schedule. Homewares and furniture businesses and many others. ## Van Loans for Business The great news from Jade Car Loans is that our cheap interest rates apply to loans for both large and small vans – the Crafter or the Caddy – and for all sized businesses. Whether you’re a sole trader, starting a new business as an owner-operator or a large corporation, your business can take full advantage of our cheap car loans for the purchase of the van of your choice. With the commercial finance product of your choice. - [Car loans for sole traders](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Professionals") - [Car Hire Purchase](/commercial-hire-purchase "Explore Car Hire Purchase Options for Your Business") - Van Leasing We recommend that our customers discuss with their accountant as to which loan product, including a [new business car loan](/new-car-finance "Drive Your Business Forward: Innovative New Car Loan Solutions"), will deliver the most benefit to their business. Your Jade consultant can then source you a cheap van loan quote from one of our many lenders. No need for you to contact your bank for a van loan. We are accredited with all major Australian banks so we can handle that for you – either with your bank or with another. If the bank quote is not the cheapest, we are also accredited with many non-bank lenders that may offer an even better deal for your VW van purchase. **To discuss a cheap van loan on a large VW Crafter or the small VW Caddy Van speak with a Jade Car Loans consultant 1300 000 003.** *DISCLAIMER: THE INFORMATION IN OUR ARTICLES IS PROVIDED FOR GENERAL INFORMATION PURPOSES AND IN NO WAY IS INTENDED AS THE SOLE SOURCE TO MAKE FINANCIAL DECISIONS OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION. INDIVIDUALS ARE RECOMMENDED TO REFER TO THEIR FINANCIAL ADVISOR OR SEEK ADDITIONAL INDEPENDENT ADVICE IF THEY CONSIDER THEY REQUIRE SO. THE INFORMATION PRESENTED IN REGARD TO GOODS HAS BEEN SOURCED FROM MANUFACTURER AND SUPPLIER SOURCES AND IN REGARD TO GOVERNMENT AND ATO POLICIES AND PROGRAMS FROM RELIABLE SOURCES. NO LIABILITY IS ACCEPTED IF ERRORS HAVE BEEN MADE IN PRESENTING OR INTERPRETING THE INFORMATION AS PRESENTED.* **Categories:** Uncategorised --- ### [Popular Car Loans](https://www.jadecarloans.com.au/blog/popular-car-loans) **Published:** September 8, 2020 **Author:** Publisher **Content:** When it’s time for a new car, buyers face a process of major decisions – make, model, new or used, who to purchase from, where to source the finance and what type of car loan. The order of addressing those decisions may vary from buyer to buyer with many of our [Jade Car Loans](/ "Explore Jade Auto Financing Solutions") customers choosing to arrange their finance, that is have us organise a pre-approved loan, before making a finance decision on the car. When it comes to motor vehicle finance there are several loan types available, depending on your profile and requirements. Jade Car Loans provides the full range of loan products which differ for personal and business buyers. ## Business Vehicle Finance Products For buyers purchasing a car to use in their business, Jade Car Loans offers a full portfolio of finance products including [Car sole trader car finance](/car-chattel-mortgage "Customised Vehicle Financing for Independent Professionals"), [Hire Purchase Car](/commercial-hire-purchase "Explore Commercial Hire Purchase Solutions for Vehicles"), Leasing and [Novated Leasing with Salary Sacrificing](/novated-car-leasing-and-salary-sacrificing "Optimise Your Vehicle Financing: Novated Leasing and Salary Sacrifice"). These finance types are offered through both banks and non-bank lenders and to meet ATO regulations, the tax and accounting features of each are standard across the lending industry. The most ‘popular’ in terms of the number of people selecting them, are Chattel Mortgage and Motor Vehicle Leasing. In simple terms, both finance types operate similarly with a fixed loan term, [business car loan interest rate](/car-finance-interest-rates "Exploring Interest Rates for Business Car Loans"), a fixed monthly payment and an option for a balloon or residual. It’s the, let’s say ‘technical’ features where the differences between products lie. - **Ownership:** With Chattel Mortgage the borrower purchases the vehicle and the lender has a mortgage over the car as security against the loan. With Leasing the lender technically purchases the vehicle and leases it back to the borrower. In both cases the borrower has full use of the vehicle from the time of settlement and is responsible for all ongoing expenses and the vehicle is registered in the borrowing company name. - **Accounting Method:** Companies use either the cash accounting or accruals accounting method. Chattel Mortgage is suited to the cash method and leasing to the accruals method. - **Balance Sheet Entry:** With Leasing, because the vehicle is purchased by the lender, the asset appears on their balance sheet not that of the borrowing company. This appeals to some businesses as it may improve the balance sheet. With Chattel Mortgage, the car appears on the borrowing company’s balance sheet because it is purchased in their name. - **GST Treatment:** With Chattel Mortgage the GST on the purchase price is claimed in full on the BAS directly after purchase. No GST is then applied to or claimed on the monthly payments. With leasing GST is applied to and claimed on the monthly lease payments. In both cases, no GST is charged on the interest portion of the loan. - **Tax Deductions:** As the monthly lease payments are considered an operating expense, they are tax deductible. With Chattel Mortgage, only the interest portion of the monthly repayments is tax deductible. - **Depreciation** is in line with [ATO regulations](https://www.ato.gov.au/general/new-legislation/ "Understanding ATO Guidelines: Recent Legislative Changes"). The cheap interest rates that Jade Car Loans achieves are the same for both Chattel Mortgage and Vehicle Leasing. We source you the best quote and the cheapest rates from across our large number of bank and non-bank lenders. The process of sourcing you a quote and arranging your business vehicle finance through Jade Car Loans is the same for all our commercial finance products. In deciding which business vehicle finance product is most suited to your business, your Jade consultant will recommend that you refer to your accountant or financial controller. ## Personal Car Loans If your car is primarily for private use, you have fewer choices in loan types with a [Secured Car Loan](/secured-car-loans "Explore Reliable Vehicle Financing: Secured Auto Loans") being the most popular loan compared with the alternative Unsecured Personal Loan. Refer to our web pages for details on each of these loan types. ## Sourcing Cheap Vehicle Finance Jade Car Loans arranges loans for both individuals and businesses, including options like the [no doc car loan](/no-docs-car-loans-for-business-vehicles "Simplified Financing: No Documentation Car Loans for Business Vehicles"). The interest rate offered by Jade Car Loans for personal car loans is higher than that for business buyers due to the risk assessment. This is standard procedure across the lending sector. To be eligible for business vehicle finance and the lower interest rate, buyers must have a minimum of an ABN and meet other lender and ATO requirements. Your Jade consultant can discuss the options with you if you are a new start-up, interested in a no doc car loan, or have only recently received an ABN and have little documentation. The business vehicle finance sector is highly competitive and as a major finance broker in this area, Jade Car Loans holds considerable bargaining power with many of our lenders. This, along with our expertise and extensive experience in options such as [low doc car loan](/low-docs-car-loans-for-business-vehicles "Streamlined Financing: Low Documentation Car Loans for Business Vehicles"), provides us with the resources to negotiate better interest rates and better overall finance deals for both business and personal car finance. All our products are available for the purchase of either new or used vehicles, depending on individual lender guidelines. **For a cheap car loan quote with one of the popular finance products contact Jade Car Loans at 1300 000 003** *DISCLAIMER: NO LIABILITY IS ACCEPTED REGARDING HOW THE INFORMATION ON MANUFACTURER GOODS AND SERVICES AND ANY GOVERNMENT POLICIES, GUIDELINES AND OTHER INFORMATION IS PRESENTED. SPECIFICATIONS AND FEATURES OF GOODS AND DETAILS OF OTHER ISSUES HAS BEEN SOURCED FROM PREDOMINANTLY ONLINE PUBLISHED SOURCES. NO LIABILITY IS ACCEPTED FOR ERRORS IN FACTS AND FIGURES OR INTERPRETATIONS. IN REGARD TO FINANCIAL DECISIONS, THE INFORMATION IS INTENDED FOR GENERAL PURPOSES. IT IS NOT INTENDED AND NOT TO BE TAKEN AS FINANCIAL ADVICE. INDIVIDUALS ARE DIRECTED TO REFER TO THEIR OWN FINANCIAL ADVISOR SHOULD THEY CONSIDER THEY REQUIRE PROFESSIONAL ADVICE SPECIFIC TO THEIR CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Making it easy to get a hard-working commercial van](https://www.jadecarloans.com.au/blog/making-it-easy-to-get-a-hard-working-commercial-van) **Published:** September 11, 2020 **Author:** Publisher **Content:** Versatile vans are a staple for business operators. The light commercial van (LCV) is an essential inclusion in many large business fleets and a go-to for small operators. The popularity of these hard-working vehicles is reflected in the large and growing market with many car makers and truck manufacturers offering a van in the model line-up. While the [Toyota HiAce](https://www.toyota.com.au/hiace "Discover the Toyota HiAce: Versatile Van Excellence") has dominated the top selling list for many years, some European manufacturers make up the top 10 including Renault and Mercedes-Benz and the new Fiat Ducato looks set to give the competition a shake-up. We are across the LCV market and at [Jade Car Loans](/ "Exploring Jade Auto Financing Solutions"), we’re well aware that these vehicles suit many different types of businesses. Our customer list attests to that. For couriers, it is an essential ‘tool of trade’. For sparkies, techs and other tradies it can be a workable place for tools. For many businesses, it is the ideal delivery vehicle. But for many businesses, when it comes time to buy their first van or upgrade to a new LCV, it can be tiresome. Business owners and operators may face a time-consuming and brain-confusing process of sourcing the best finance deal. At Jade Car Loans, our service is structured to make it easy to acquire a hard-working LCV, for all types of businesses. ## Time, Hassle and Money Savings As your finance broker, Jade Car Loans operates as part of your team in sourcing you the best finance deal. We are only interested in your best interests and especially in getting you the cheapest [business car loan rates](/car-finance-interest-rates "Exploring Interest Rates for Business Car Financing"). With accreditation across a large number of banks and lenders, we have access to many sources of car finance. We’re not limited to just the banks, as many businesses may be. Using our [commercial car loan calculator](/car-finance-calculator "Plan Your Commercial Vehicle Financing with our Loan Calculator"), you can gain insights into your potential repayments. And when you do approach the bank, if you don’t fit their finance guidelines, it’s a NO. If you want a better rate or better terms than they are offering, in most cases – it’s a NO. With your Jade consultant handling your [ABN car finance](/abn-car-loan "Unlock Vehicle Financing with ABN Car Loan Options") deal, we work to turn NO into YES. We have the bargaining power to negotiate better interest rates on behalf of our customers and source lenders that suit your requirements. We’ll handle the entire process from sourcing an initial quote, through processing your application with quick approvals and handling the paperwork for quick settlement. With our better interest rates we save you money, with our fast processes we save you time and with our streamlined services we save you hassle. The one thing we don’t do for you is choose which light commercial van you should purchase. There are many to consider and we take a look at a few of those European models to whet your appetite. ## Renault Kangoo From this well-known large French multinational car manufacturer, the Renault Kangoo is a stylish and versatile small van, available in compact, maxi and maxi Z.E which stands for zero emissions. The compact has a 1.2 litre turbo petrol, the maxi a 1.5 litre diesel and the Z.E are all electric. The company claims the Z.E has a range of 200 klms which should be suitable for many city-based businesses looking to go electric. There are choices with auto and manual transmission. For a small category van, the Kangoo has generous cargo space and the convenience of sliding side doors and rear barn doors for easier loading and unloading. Rubber floor mats are standard and there are plenty of tie-downs. If you need to spend a lot of your working day on the road – delivery driver, service techs – the Kangoo offers an interior that is well-organised and has the comfort and connectivity expected. You’ve got cup and bottle holders, an overhead storage shelf, an adjustable driver seat and an optional foldable passenger seat to create even more cargo space. If the Renault Kangoo ticks your commercial van boxes, Jade Car Loans will assist in making it easy for you to secure your hard-working vehicle. ## Finance Options for Small Vans Jade Car Loans provides the full portfolio of commercial finance products for the purchase of business vehicles plus specialised services for those who are facing challenges securing finance. Our range of business vehicle loans include:- - Vehicle Leasing - Chattel Mortgage - [Hire Purchase Cars](/commercial-hire-purchase "Discover Commercial Hire Purchase Options for Vehicles") One of these loan types will suit most business operators and we advise you refer to your accountant as to which is best for your company set-up. For those who are finding it difficult to source [new business car loans](/new-car-finance "Elevate Your Business Fleet: Fresh Car Financing Solutions") or other business loans, Jade Car Loans provides specialist services to address the needs of no docs, low docs and bad credit applicants as well as ABN-only loans. If you are in these circumstances, your Jade consultant will discuss the possibilities with you and work towards achieving a successful outcome with one of our lenders. There are many ‘hard’ tasks in any business. At Jade Car Loans we don’t believe sourcing cheap, workable vehicle finance should be one of them. Take the easier way to a cheap van loan with Jade. **To discuss how Jade Car Loans can make it easier for you to acquire your van, call 1300 000 003.** *DISCLAIMER: NO LIABILITY IS ACCEPTED REGARDING HOW THE INFORMATION ON MANUFACTURER GOODS AND SERVICES AND ANY GOVERNMENT POLICIES, GUIDELINES AND OTHER INFORMATION IS PRESENTED. SPECIFICATIONS AND FEATURES OF GOODS AND DETAILS OF OTHER ISSUES HAVE BEEN SOURCED FROM PREDOMINANTLY ONLINE PUBLISHED SOURCES. NO LIABILITY IS ACCEPTED FOR ERRORS IN FACTS AND FIGURES OR INTERPRETATIONS. IN REGARD TO FINANCIAL DECISIONS, THE INFORMATION IS INTENDED FOR GENERAL PURPOSES. IT IS NOT INTENDED AND NOT TO BE TAKEN AS FINANCIAL ADVICE. INDIVIDUALS ARE DIRECTED TO REFER TO THEIR OWN FINANCIAL ADVISOR SHOULD THEY CONSIDER THEY REQUIRE PROFESSIONAL ADVICE SPECIFIC TO THEIR CIRCUMSTANCES.* **Categories:** Uncategorised --- ### [Is non-bank Chattel Mortgage cheaper than a bank?](https://www.jadecarloans.com.au/blog/is-non-bank-chattel-mortgage-cheaper-than-a-bank) **Published:** September 15, 2020 **Author:** Publisher **Content:** The banking sector, particularly the Big 4 Banks – [CBA](https://www.commbank.com.au/ "Explore Commonwealth Bank of Australia (CBA) Services"), [ANZ](https://www.anz.com.au/personal/ "Discover ANZ: Your Financial Partner for Personal Services"), [Westpac](https://www.westpac.com.au/ "Exploring Westpac: Your Path to Financial Solutions") and [NAB](https://www.nab.com.au/ "Discover NAB: Your Destination for Financial Solutions"), is traditionally the go-to source for all types of business finance. You have your transactional accounts with your bank, possibly lines of credit, your home mortgage, perhaps an overdraft and maybe your investment accounts. So it’s only natural that you would head to the bank for business vehicle finance. But banks are not the only option with many non-bank lenders entering the sector and giving the banks a run for their money, creating a highly competitive lending market. While this is not ‘new’, new players continue to enter the market, presenting a wider choice of options and requiring greater diligence from borrowers when sourcing the best car loan deal. This influx of options also means there are more opportunities for those seeking a [new business car loan](/new-car-finance "Fueling Business Growth: Fresh Car Financing Solutions"). [Jade Car Finance](/ "Exploring Jade Auto Financing Solutions") is accredited with both banks and non-bank lenders and we have experienced first-hand the large increase in the non-bank area over our 20+ years in motor vehicle lending. We’ve seen, and continue to see, the welcomed competitiveness these new companies are injecting into the sector. Competitiveness improves our ability to deliver even cheaper car loans for our customers. But just because they present a highly competitive image backed with impressive marketing campaigns doesn’t mean that non-bank lenders always offer cheaper motor vehicle finance deals than banks. As a broker, our focus is on achieving the best outcome for our clients. We work in your best interests to negotiate the cheapest car finance deal that meets your requirements, especially in terms of [business car loan interest rates](/car-finance-interest-rates "Exploring Interest Rates for Business Auto Financing"). Sometimes it will be one of the banks that comes out ahead and sometimes it will be a non-bank lender. With our large lending panel, we can cover many options on your behalf, quickly and easily. ## Standard Loan Structure Most banks and non-bank lenders offer Chattel Mortgage for car loans. Some banks refer to a Chattel Mortgage as an ‘Equipment Loan’. As this is a very popular form of car finance and sought by many businesses it can be a competitive area regarding some elements of the loan. To meet ATO rulings and other regulatory issues, the format and basic structure of Chattel Mortgage motor vehicle finance is standard for all lenders – bank and non-bank. ## Chattel Mortgage Format:- - Fixed interest rate - Fixed monthly repayments - Fixed loan term - Optional balloon - Lender takes a mortgage over the vehicle over the term of the loan - GST is claimable on full purchase price on ensuing BAS return after purchase - Only the interest portion of the repayments and balloon are tax deductible, not the entire payment ## Flexible Rates and Terms While the Chattel Mortgage is standard across the industry, it is in the interest rate, terms, conditions and loan approval guidelines where lenders can be more flexible and more competitive. **Loan guidelines:** Especially in the wake of the Royal Commission, banks can generally be more stringent in their loan application guidelines with little ‘room to move’ if a business doesn’t meet all their requirements. For our customers who don’t meet the bank guidelines, our Jade Car Loans consultants have our many non-bank lenders source a Chattel Mortgage offer. Non-bank lenders tend to be more negotiable when it comes to many aspects of business finance. This is particularly relevant regarding Low Docs and No Docs Chattel Mortgage offers. **Interest Rate:** Individual lenders set their interest rates based on several parameters including:- their cost of sourcing their funds; current official interest rate; risk assessment of individual applications; and their active participation in a particular loan sector, e.g. motor vehicle lending; amongst other factors. Like Jade Car Loans, most banks and lenders advertise their current interest rate for a loan type on their website. When negotiating with lenders on behalf of our customers, Jade Car Loans uses our strong bargaining power in motor vehicle finance to get the cheapest interest rates. While the non-bank lenders tend to be negotiable by the nature of their business set-up, all elements of the loan offer need to be considered as a package and often the bank will be considered the ‘best’ offer for that customer. **Loan Terms:** The term of the loan, repayment amount and the percentage balloon can be key factors to some businesses when seeking [Business Vehicle Finance](/business-car-finance "Drive Your Business Forward with Vehicle Financing Solutions"). ‘Cheap’ is defined as ‘affordable’ to their operation and working with their cash flow. The balloon and loan terms vary in the monthly repayment. So being able to negotiate on both or either to suit your requirements can make a Chattel Mortgage more ‘affordable’ from your perspective. Jade Car Loans will negotiate these elements on your behalf with all lenders we approach for your quote. Whether the bank or the non-bank makes the better offer is subject to their assessment of your application. ## Sourcing a Cheap Chattel Mortgage While it may seem that we’ve danced around giving you a direct answer like Question Time in the House of Reps, the question of whether a non-bank lender or a bank can offer the cheapest Chattel Mortgage doesn’t have a definite, general answer. At Jade Car Loans we are accredited with both and our non-bank lenders include some ‘industry-only’ companies that deal only through a select group of finance brokers. So we have many options to be able to source you the [sole trader car loan](/car-chattel-mortgage "Tailored Vehicle Financing for Independent Professionals") available that matches your requirements and your application. Using Jade Car Loans as your finance broker provides you with a streamlined and straightforward way to source the cheapest Chattel Mortgage car loan with terms and conditions that will work with your business operation. **For a cheap Chattel Mortgage quote contact Jade Car Loans at 1300 000 003 and discuss your requirements with one of our consultants.** *DISCLAIMER: THE INFORMATION PROVIDED IN THIS ARTICLE IS FOR GENERAL INFORMATIVE PURPOSES AND NOT INTENDED AS FINANCE ADVICE. INDIVIDUALS SHOULD REFER TO THEIR FINANCIAL ADVISOR OR ACCOUNTANT FOR ADVICE IN REGARD TO THEIR INDIVIDUAL FINANCIAL DECISIONS AND SPECIFIC CIRCUMSTANCES. DETAILS IN REGARD TO GOODS, SERVICES AND GOVERNMENT OFFERS AND POLICIES HAS BEEN SOURCED FROM PUBLIC MANUFACTURER AND SUPPLIER WEBSITES AND GOVERNMENT RESOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS OR MISREPRESENTATION OF INFORMATION AND DATA OBTAINED FROM THESE SOURCES.* **Categories:** Uncategorised --- ### [Calm FOMO with a pre-approved Low Docs Loan](https://www.jadecarloans.com.au/blog/calm-fomo-with-a-pre-approved-low-docs-loan) **Published:** September 18, 2020 **Author:** Publisher **Content:** Anxious with FOMO – fear of missing out on your new car because you don’t think you’ll meet the requirements for a [car loan](/ "Discover Auto Financing Solutions at Jade Car Loans")? FOMO for individuals might mean you miss out on something that you wanted but didn’t absolutely need. Important yes, disappointing yes, but maybe not essential. But for a business, missing out on finance to purchase a business vehicle can have devastating impacts on their operations and ability to derive an income. FOMO on a [business car loan](/business-car-finance "Elevate Your Business Fleet with Vehicle Financing Solutions") is a very real concern. When your current delivery van has mechanical issues requiring expensive repairs which put it past its used-by date can mean a big hit to your work capabilities. A landscaper or gardener definitely needs a ute to transport all their tools to their customer’s premises in order to carry out their work and make a living. Plumbers, electricians, carpenters and service technicians must have a vehicle to carry their equipment and supplies to/from the work site or they essentially don’t have a business. Regional business owners of many types usually need a car as a means of getting around to meeting with their clients. If you’re facing any of these or other circumstances and you think you may not meet the requirements for a business car loan, Jade Car Loans may have a solution for you. We fully appreciate the importance of a vehicle to all types of businesses and we offer services to ease your FOMO: sourcing you a quote for a Low Docs Car Loan WITH a pre-approved loan at competitive [business car loan rates](/car-finance-interest-rates "Examining Interest Rates for Business Auto Financing"). ## Low Docs Loan Features This type of loan category is made available by select lenders, often non-bank lenders, for businesses that do not meet the requirements for a standard motor vehicle finance loan set by institutions such as the [Reserve Bank of Australia](https://www.rba.gov.au/ "Explore the Official Site of Australia's Central Bank"). The ‘docs’ refers to not having all the financial documentation required by most of the banks and some lenders. Jade as a [car finance broker](/car-finance-broker "Engage a Professional Car Financing Broker for Your Needs") is accredited with many banks and non-bank lenders, including those that do make cost-effective offers for low docs car loans. Your Jade consultant will contact the appropriate lenders to source you an offer subject to your application meeting the guidelines set by the individual lenders. The better the quality and quantity of documentation in your application, the better your chances of being made a loan offer and the better the offer: - Current ABN is essential. - Registered for GST is preferred with presentation of BAS returns. - Some form of current accounts, even those prepared by yourself but preferably by a professional accountant is highly preferred. - Due to the increased risk assessment, the interest rate is usually higher on low docs loans compared with standard business car loans. - Individual lenders may require a larger deposit be paid on the vehicle to reduce the loan amount. - Individual lenders may require additional assets be put up as security in addition to the vehicle. This may be personal property or guarantees by the business owner. - Individual lenders may have minimums and maximums in regard to loan amount, balloon/residual and the age of vehicles they will finance. - The Low Docs category applies to commercial finance facilities including Chattel Mortgage, Leasing and CHP. Your Jade consultant will negotiate directly with the lenders on your behalf to save you time and hassle. With our strong bargaining power in the motor vehicle finance sector, Jade Car Loans is well-placed to negotiate workable outcomes for businesses seeking loans without all the usually required documentation. ## Don’t Wait – Get Pre-Approved Waiting to apply for your car finance after you’ve decided on the vehicle you want can be stressful for low docs applicants. The seller may be pressuring you to finalise the deal while you’re scrambling to secure a loan by contacting banks, finance companies, and considering [car hire purchase](/commercial-hire-purchase "Exploring Commercial Vehicle Hire Purchase Options") options. The result may be a NO all-round or you may be tempted into signing up to a loan that is not sustainable for your business. By engaging Jade Car Loans as your broker before you start looking at cars and talking price with the dealer or private seller can result in significant benefits:- - For a start, we have the finance industry contacts, including our network of industry-only lenders, that are more amenable to offering [low docs car loans](/low-docs-car-loans-for-business-vehicles "Flexible Financing Solutions: Low Documentation Car Loans for Business Vehicles"). - By having a broker handle your applications to the lenders, you avoid the risk of having a negative impact on your credit profile. When an individual applies to multiple lenders for the same loan and is rejected, it may reflect negatively on your credit profile as lenders are required to report all loan applications. - Your Jade consultant has the expert skills to negotiate the cheapest [car finance interest rates](/car-finance-interest-rates "Understanding Interest Rates for Vehicle Financing") and the most attractive loan terms and conditions that meet the lender requirements for your specific application. - By having your loan pre-approved, you have the knowledge as to your budget for the car purchase and the confidence to proceed with negotiating price with the seller. Jade Car Loans provides quick quotes across all our loan categories including pre-approved low docs loans. So the process can be streamlined and prompt to ensure your search for finance is finalised as quickly as possible. Ease your concerns about your car loan prospects by having an obligation-free conversation with one of our consultants. They will explain the process and discuss your options with you. **To discuss a pre-approved low docs car loan, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: THE INFORMATION PROVIDED IN THIS ARTICLE IS FOR GENERAL INFORMATIVE PURPOSES AND NOT INTENDED AS FINANCE ADVICE. INDIVIDUALS SHOULD REFER TO THEIR FINANCIAL ADVISOR OR ACCOUNTANT FOR ADVICE IN REGARD TO THEIR INDIVIDUAL FINANCIAL DECISIONS AND SPECIFIC CIRCUMSTANCES. DETAILS IN REGARD TO GOODS, SERVICES AND GOVERNMENT OFFERS AND POLICIES HAS BEEN SOURCED FROM PUBLIC MANUFACTURER AND SUPPLIER WEBSITES AND GOVERNMENT RESOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS OR MISREPRESENTATION OF INFORMATION AND DATA OBTAINED FROM THESE SOURCES.* **Categories:** Uncategorised --- ### [Cheap finance for businesses that need to move people](https://www.jadecarloans.com.au/blog/cheap-finance-for-businesses-that-need-to-move-people) **Published:** September 22, 2020 **Author:** Publisher **Content:** If you’re in the competitive field of transporting people, you need competitive vehicle finance to get the edge on the market. Transporting VIPs, chauffeur services, airport transfers, tourist charters, community groups, school and sporting teams and transporting work crews from site to site required quality vehicles with safety, efficiency and passenger appeal. Many organisations in this sector need to regularly upgrade their people-mover transporter due to wear and tear from the large kilometres covered and to maintain their business image. VIPs and wedding groups especially don’t want to pile into a clapped-out mini-bus that looks like it may not even make it to the destination. They want to alight from a stylish vehicle befitting their special occasion. For those in the charter and hire business your rates can be a critical factor in winning the work. For an organisation moving their people, you need [business car loans](/business-car-finance "Empower Your Business with Customised Vehicle Financing") deal that keeps the workflow going without pressuring the cash flow. But upgrading constantly can be a costly exercise if you don’t have the cheapest vehicle finance deal. [Jade Car Loans](/ "Discover Financing Solutions with Jade Auto Loans") keeps the people-moving sector moving with cost-effective, individually structured vehicle finance at the cheapest interest rates. ## Your Choice of Finance Types Selecting the right type of finance is essential to ensure your car loan delivers the optimum tax and other benefits to your business. Jade Car Loans offers the full range of commercial finance facilities so our customers can choose which will deliver the most positive outcomes to their business. This is an important stage of the finance process, especially when considering a [new business car loan](https://www.jadecarloans.com.au/new-car-finance.php "Accelerate Your New Business with Tailored Car Financing"), as different finance products offer varying treatments and benefits related to tax deductions, GST, and depreciation. We advise that you consult with your accountant in making this decision, as it involves the accounting method used to prepare your company accounts and aligns with your business financial objectives. ## Finance available: - **Chattel Mortgage**One of the most popular forms of business vehicle finance, Chattel Mortgage suits many business set-ups, including those looking for [sole trader car finance](/car-chattel-mortgage "Tailored Vehicle Financing for Independent Professionals"), especially those that use the cash accounting method. Many sole traders operating chauffeur businesses, SMEs running tourist charters and tours, and hire car businesses, as well as companies running airport transfer operations, implement the cash accounting method. The GST can be claimed on the purchase price on the BAS return immediately following the vehicle purchase. The full repayments are not tax deductible; only the interest is deductible. However, as the asset is on your balance sheet, your business receives the depreciation benefit. Chattel Mortgage may also suit your business to take advantage of the [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Exploring the Extended Instant Asset Write-Off: Latest Updates") measure which is on offer through a Federal Government COVID-19 business support package until 31 December 2020. - **Vehicle Leasing**Also a popular type of finance and suited for those businesses that use the accruals method of accounting. GST is charged and claimable on the repayments and as the repayments are an operating expense, they are tax deductible. Leasing is an off-balance sheet finance facility so the people-mover is entered on the lender’s balance sheet and your business does not claim the depreciation. - **Commercial Hire Purchase**Similar in structure to Chattel Mortgage in regards to the treatment of GST and tax deductions, [car hire purchase](/commercial-hire-purchase "Exploring Commercial Vehicle Hire Purchase Solutions") is also a commonly used form of finance for business vehicles. With Jade Car Loans sourcing your finance, you will receive a finance quote that has been individually sourced and negotiated to suit your requirements and at the cheapest [business car loan interest rates](/car-finance-interest-rates "Examining Interest Rates for Business Auto Financing") achievable. To assist with the planning of your purchase, we provide pre-approved finance for business vehicle purchases. You can have your Jade Car Loans arranged and approved before discussing a deal with the seller. ## Top Mover: Mercedes-Benz Sprinter Transfer So which people-mover will you purchase? One of the top vehicles in this category on the market is the [2020 Mercedes-Benz Sprinter](https://www.mercedes-benz.com.au/vans/en/sprinter?gclid=Cj0KCQjwgNanBhDUARIsAAeIcAvFDZqBynIjR0EgAOfdCLeED0vcMa2OvNu9Q-FhkUuiKw1q4CKLvKwaAs5qEALw_wcB "Discover the 2020 Mercedes-Benz Sprinter: Innovation in Motion") Transfer, which has received some good wraps from motoring reviewers. The Sprinter Transfer Mini-Bus has recently received an update and is now modelled on the very popular and high-tech Sprinter. The mini-bus is available in both standard and high roof heights and can be configured to seat 11-12 people. Spacious, comfortable and packed with tech and that trademark Merc style, passengers are sure to be impressed when you arrive to collect them in your Sprinter Transfer. The 3 pointed star is emblematic of luxury vehicles and top-notch German craftsmanship. These features are bound to elevate your charter company’s reputation. To further augment the efficiency of your Mercedes-Benz Sprinter Transfer Mini-Bus, your Jade Car Loans consultant will seek the most cost-effective [commercial vehicle finance](/business-car-finance "Elevate Your Business with Fleet Financing Solutions") solution tailored to your needs. Jade Car Loans is accredited with many banks and lenders which provides our consultants with more choices in sourcing you the cheapest finance deal, including options like [ABN car loan](/abn-car-loan "Unlock Your Vehicle Dreams with ABN Car Financing"), and negotiating the loan terms that will deliver the optimum returns for your business. Returns and benefits that give you the edge in your competitive industry. **For a finance quote on a mini-bus, contact Jade Car Loans at 1300 000 003 and discuss your requirements with one of our consultants.** *DISCLAIMER: ALL INFORMATION WHICH IS PRESENTED IN THIS ARTICLE IS INTENDED SOLELY FOR THE PURPOSE OF PROVIDING GENERAL INFORMATION. IT IS NOT UNDER ANY CIRCUMSTANCES INTENDED AS PROVIDING FINANCIAL ADVICE. FOR SPECIFIC FINANCIAL ADVICE ON INDIVIDUAL FINANCIAL CIRCUMSTANCES, READERS ARE ADVISED TO CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR INCORRECT OR OUT OF DATE DETAILS IN REGARD TO GOODS, SERVICES, POLICIES AND PROGRAMS MENTIONED IN THE ARTICLE. THE INFORMATION AND DATA QUOTED HAS BEEN SOURCED FROM PUBLICLY AVAILABLE SOURCES INCLUDING MANUFACTURER AND GOVERNMENT WEBSITES.* **Categories:** Uncategorised --- ### [5 Tips to Reduce Car Loan Repayments](https://www.jadecarloans.com.au/blog/5-tips-to-reduce-car-loan-repayments) **Published:** September 26, 2020 **Author:** Publisher **Content:** Price is a major deciding factor in most car purchases. If you’re purchasing a car for your private use, you’ll have a good idea of the price range that will suit your budget. If purchasing a vehicle for your business, you’ll likely be looking at a price range that won’t put pressure on cash flow. But the advertised purchase price is one thing. What you are paying on car loan repayments each month is very often far more relevant to both individuals and businesses. You can use our [Business Car Loan calculator](/car-finance-calculator "Plan Your Business Vehicle Financing with our Loan Calculator") to get a rough estimate of how a car price tag converts to monthly repayments, but that is only a ballpark. When requesting a specific quote, many of our Jade Car Loans customers request that we arrange their loan to a certain monthly repayment figure. A figure which they have decided they can comfortably manage. But many still want to know ‘how can I reduce my repayments?’ We’re sharing our industry know-how with a selection of tips on how you can achieve lower car loan repayments. ## 1. Pay a Larger Deposit This is a bit of a no-brainer but worth mentioning as there is a lot of promotion of ‘no deposit car finance’ circulating in the sector. Under some circumstances, individual lenders will request that borrowers pay a larger deposit to the seller to reduce the loan amount. This may occur with [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Simplified Financing: Low Documentation Car Loans for Business Vehicles"), some personal car loans and older-aged vehicles. Other than for Low Docs Finance, rarely will a lender request a business pay a deposit when making a business vehicle finance offer. Most business car finance deals are for 100% of the purchase price. But, if you do want to reduce your repayments, simply pay a larger deposit to the car dealer and that will reduce the overall amount to be borrowed and hence reduce your repayments. ## 2. Get a Better Trade-in If you’re planning to trade in or sell your current car privately, there are a few tips to assist you in getting a better price. - Improving the condition and appearance is particularly important if selling privately but it is debatable whether it impacts a dealer’s trade-in offer significantly. While a private buyer usually wants a car in mint condition, a dealer can easily have those minor dents and scratches fixed quite inexpensively. But a dealer will likely factor any repairs including bodywork, into what they will offer you as a trade. And there’s the strategic element. A dealer will point out all the flaws in your car to justify offering you a lower trade-in. So if you eliminate a lot of the flaws you may succeed in eliminating a lot of their arguments. - If you’re selling/trading just before rego renewal time, expect to have to allow for those costs in the price you’ll get. A private buyer will be factoring those costs into the overall cost to them. It may also cast doubt in their mind as to whether there are some issues that you don’t want to pay to fix to get the car through rego. To overcome these doubts you may choose to get a roadworthiness certificate. - Keep a record of servicing and make a list of any major work you’ve recently done such as new tyres, battery etc. Knowing they won’t have to pay out for major issues shortly may enhance the price you receive. By increasing the price you get for your trade-in you’ll reduce the price you’ll pay for the new vehicle which in turn reduces your car loan and your repayments. ## 3. Inflate the Balloon/Residual Business buyers, whether opting for a Chattel Mortgage, [hire purchase car](/commercial-hire-purchase "Exploring Commercial Vehicle Hire Purchase Options") deal, or vehicle leasing, can easily reduce their repayments by increasing the balloon or residual. This is a percentage of the purchase price that isn’t factored into the monthly repayments but is due as a lump sum at the loan’s conclusion. You can use our calculator to see how repayments vary when the balloon is increased/decreased. Some lenders will have a maximum they will allow for balloons and your Jade consultant will advise you if that applies in your case. You may also want to consider the projected value of the vehicle at the end of the loan term to ensure the balloon and what you will need to payout won’t exceed the value of the car at that time. ## 4. Choice of Lender The loan term determines the monthly repayments. A longer loan term results in a lower monthly repayment and a shorter loan term means higher repayments. But getting the loan terms you want to achieve the repayments you want may not be possible with all lenders when you source your loan yourself. Some banks and non-bank lenders will have conditions around maximum loan terms for both [personal car loans](/personal-car-finance "Customised Solutions for Personal Vehicle Financing") and [business vehicle finance](/business-car-finance "Advance Your Business Fleet with Vehicle Financing Solutions"). This may be determined by details around your loan application or around details of the vehicle – age, condition and purchase price. Banks have strict guidelines and are rarely in a position to negotiate their requirements. Engaging the services of a [car finance broker](/car-finance-broker "Engage a Professional Car Financing Specialist for Your Needs"), Jade Car Loans, to handle your car finance deal gives you a clear advantage in getting the loan terms you want. We are accredited with many lenders and we know which one will be most suited to your requirements and open to negotiating on terms. Having more choices means we can deliver a greater chance of delivering the loan term that will result in the repayment level that you are seeking. ## 5. Get a Lower Interest Rate Kaching! This is the ‘money shot’, the clincher, the big factor when it comes to getting the lowest repayments on your car loan. Get a [business car loan rate](/car-finance-interest-rates "Exploring Interest Rates for Business Auto Financing") and you’ll get lower repayments on the same loan amount over the same loan term. We pride ourselves on sourcing better interest rates so we can offer our customers cheap car loans. Our consultants have all the backing of our strong bargaining power in the motor vehicle finance sector to use when negotiating the cheapest interest rate for our customers. A small incremental difference in the interest rate can mean a significant difference in the total amount you pay on your car finance and can reduce your monthly repayments. Use our calculator and vary the interest rate you input slightly to see how the repayment amount changes and you’ll see exactly why we go to so much effort to get the lowest rates. If getting lower repayments on your car finance is important to you, we hope these simple tips assist with your car purchasing process. **For a cheap interest rate car loan quote with lower repayments, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: ALL INFORMATION WHICH IS PRESENTED IN THIS ARTICLE IS INTENDED SOLELY FOR THE PURPOSE OF PROVIDING GENERAL INFORMATION. IT IS NOT UNDER ANY CIRCUMSTANCES INTENDED AS PROVIDING FINANCIAL ADVICE. FOR SPECIFIC FINANCIAL ADVICE ON INDIVIDUAL FINANCIAL CIRCUMSTANCES, READERS ARE ADVISED TO CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR INCORRECT OR OUT OF DATE DETAILS IN REGARD TO GOODS, SERVICES, POLICIES AND PROGRAMS MENTIONED IN THE ARTICLE. THE INFORMATION AND DATA QUOTED HAS BEEN SOURCED FROM PUBLICLY AVAILABLE SOURCES INCLUDING MANUFACTURER AND GOVERNMENT WEBSITES.* **Categories:** Uncategorised --- ### [Accounting for Your Car Finance](https://www.jadecarloans.com.au/blog/accounting-for-your-car-finance) **Published:** September 28, 2020 **Author:** Publisher **Content:** Ask most people if they’d like to know more about accounting and their eyes will likely glaze over. Ask them if they’d like to know how they can achieve cost savings and tax benefits for their business and they’re a lot more likely to pay attention. Sometimes it’s all in the packaging or presentation. Knowing more about the accounting aspects of both your business and car finance, in general, may provide you with the tools to achieve better outcomes for your business. When we talk [business car finance](/business-car-finance "Drive Your Business Forward: Tailored Commercial Vehicle Financing") products, at Jade Car Loans we always recommend that our customers refer to their accountant for specific advice about which product is best suited to their business. But by having more information yourself, having a better grasp of the basics, may assist you in better understanding the detail of your car finance deal. Most companies have accounts software systems that automatically calculate and store information. In most cases, the business owner or their accounts manager only has to correctly enter the data and the software system delivers the outcome required. Outcomes such as GST or PAYG payable are easily worked out and their accountant handles the official end of month or end of year requirements. Without doing the deep dive into ‘Accounting 101’, we’re providing a basic overview of the accounting implications of the different commercial finance facilities available for business vehicle purchases. Hopefully, this information will provide you with a better understanding of what and why your Jade consultant is asking you certain questions. ## Accounting Methods: It’s all in the Timing There are two different types of methods that businesses can use for their accounting purposes and essentially, the differences are timing. There is the Cash Accounting method and the Accruals method which is sometimes referred to as non-cash basis accounting. The method is usually selected when a business is set up and the decision based on a number of factors which we won’t go into here. The method affects how and when you calculate GST and other tax obligations and the profit and loss statement. It also affects which car finance product is best suited to your business. - Cash accounting records the income when it is received into your account and your expenses when you pay invoices and costs. - Accruals accounting records income when you raise the invoice and when you receive an account or bill even if that money has not actually been paid or received yet. The cash basis provides an immediate snapshot of your business situation at any particular moment. While the accruals or non-cash basis can provide a better ‘big picture’ or longer-term view of your business financial position. Accruals take into account what income you have owing plus what you owe. Non-cash/accruals can be a more complex system to manage and may require personnel or expertise to handle your accounts receivable and account payable. As such, small operators tend to use the cash basis, which is commonly used by many Australian businesses. For [more information](https://business.gov.au/finance/taxation/choose-between-cash-and-accrual-accounting "Choose between cash and accrual accounting") on accounting systems. ## Finance Types and Accounting Methods Knowing what accounting method your business implements is essential in determining the most suitable car finance product for your vehicle and other asset purchases: - Chattel Mortgage is best suited to the cash accounting method - Commercial Hire Purchase can be used for both cash and accounting methods - Leasing is best suited to the accruals accounting method ## Appreciating the Balance Sheet When it comes to the balance sheet, many business owners are primarily focused on the bottom line – how much profit they are generating and how much cash at bank they have. But the business balance sheet plays an important role in regard to realising tax benefits from your car finance. Benefits which in turn deliver a better bottom line. It’s all about whether or not the car being purchased is entered as an asset/liability on your balance sheet or the balance sheet of the lender. If it’s on your balance sheet then you realise the tax benefits of depreciation. If it is on the lender’s balance sheet then you can’t depreciate the asset. - With Chattel Mortgage the car is entered on the balance sheet of the borrower and the business realises the depreciation benefits. This is important if you want to take advantage of government depreciation incentives such as the [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Capitalising on Business Vehicle Financing: Latest Insights") and [Business Backed Investment (BBI)](https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business "Capitalising on Business Vehicle Financing: Latest Insights"). - Leasing is an off-balance sheet facility so the borrowing business can’t depreciate the asset. But, off-balance sheet finance offers benefits in possibly improving the balance sheet and the repayments are tax-deductible. Again, it’s all about the timing! Either realising the tax benefits when the repayments are made or at end of the year with the depreciation allowance which is subject to ATO rulings. There are also differences in regard to the treatment of GST in the different finance products. ## Selecting Your Car Finance Jade Car Loans offers a wide range of operational lending options for our business buyers:- - [Hire Purchase Car](/commercial-hire-purchase "Exploring Commercial Hire Purchase for Your Vehicle Needs") - [ABN car loans](/abn-car-loan "Driving Business Growth: Car Financing Options for ABN Holders") - [Sole trader car loan](/car-chattel-mortgage "Empowering Sole Traders: Car Loan Solutions for Independent Business Owners") - [Low doc car loans](/low-docs-car-loans-for-business-vehicles "Effortless Financing: Low Documentation Car Loans for Business Vehicles") - [No doc car ](/no-docs-car-loans-for-business-vehicles "Simplified Funding: No Documentation Car Loans for Business Vehicles")[l](/no-docs-car-loans-for-business-vehicles "Simplified Funding: No Documentation Car Loans for Business Vehicles")[oans](https://www.jadecarloans.com.au/no-docs-car-loans-for-business-vehicles.php "Simplified Funding: No Documentation Car Loans for Business Vehicles") At the start of this article, we mentioned cost savings. Well, this is our top tip for achieving savings via cheaper car finance – secure your motor vehicle finance at the cheap interest rates offered by [Jade Car Loans](/ "Your Partner in Vehicle Financing: Explore Car Loan Solutions"). A cheaper interest rate is the foundation to structure a more cost-effective overall finance deal. **To discuss cost-effective motor vehicle finance, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: INFORMATION, DATA AND DETAILS OF GOODS, POLICIES AND PROGRAMS THAT IS PRESENTED IN THE ARTICLE IS INTENDED SOLELY FOR THE PROVISION OF GENERAL INFORMATION. UNDER NO CIRCUMSTANCE IS THIS INFORMATION INTENDED AS THE PROVISION OF FINANCIAL ADVICE FOR ANY INDIVIDUAL AND/OR FOR THE PURPOSE OF MAKING SPECIFIC INDIVIDUAL FINANCIAL DECISIONS. FOR ADVICE ON INDIVIDUAL CIRCUMSTANCES, READERS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPT FOR ERRORS, INCORRECT DETAILS OR INCORRECT PRESENTATION OF DETAILS OF GOODS, PROGRAMS, SERVICES, ETC AS PRESENTED. THE INFORMATION HAS BEEN SOURCED IN GOOD FAITH AS GENERAL INTEREST AND INFORMATION FROM MANUFACTURER, SUPPLIER AND GOVERNMENT WEBSITES.* **Categories:** Uncategorised --- ### [Ute v Cab Chassis? VW Amarok or Crafter?](https://www.jadecarloans.com.au/blog/ute-v-cab-chassis-vw-amarok-or-crafter) **Published:** September 30, 2020 **Author:** Publisher **Content:** Selecting a work vehicle is a major business decision. You’ll likely want a vehicle that will have the power and capacity to handle your specific work applications and for the long haul. A quality vehicle that will go the distance both in the daily and weekly grind and regarding your longer term financial objectives. The decision around what vehicle should also be considered regarding what [business car finance](/business-car-finance "Empower Your Business with Tailored Vehicle Financing Solutions"). The finance deal may be key to delivering the financial outcomes to support your business prospects. So when it comes to deciding between a ute or a cab chassis, what are the deciding factors? What do each have to offer? Which has the edge? Is the finance different? We take a look at what global car manufacturing giant VW has to offer in both categories and what [Jade Car Loans](/ "Unlocking Vehicle Finance Solutions: Discover Jade Car Loans") can offer in the finance stakes. Both the VW Amarok and the Craft are available as dual cab vehicles so we drill down into some of the features. ## VW Amarok: Wide Range of Choices You only have to cast an eye over the car parks at work sites to see the popularity of the [VW Amarok](https://www.volkswagen.com.au/en/models/amarok.html "Exploring the Volkswagen Amarok: Innovative Features and Performance"). This is a smart-looking double cab ute that appears to have a good rep for performance. What else does it offer? - Multiple model variants from the 4 cylinder Core through to the very stylish V6 Highline Black 580S and the Ultimate 580. - 4×4 toughness with a system that provides 3 mode selections: 4 wheel drive, rear wheel drive and 4 wheel drive low range. With touch button selection. - Variants with choice of either 4 cylinder 2L turbo diesel or the larger V6 3L turbo diesel engines. - Tray size of 1222 mm which is big enough to take a Euro-sized pallet and a payload of 911 kgs. - Luxury interior and cross-over appearance which makes it suitable for many out-of-work activities. - 5 seater with front bucket seat set-up. - Great vehicle to tow your boat or caravan. ## VW Crafter Double Cab Chassis Admittedly, this is much more of a work-looking vehicle than the Amarok, so your decision may be weighted by your requirements around all work or work and play. - Versatility to adapt to custom bodies and conversions to suit specialist work applications. - 7 seater with space for 3 upfront courtesy of the passenger bench seat for 2 and space for 4 in the 2nd - Off road capability so [Crafter](https://www.volkswagen.com.au/en/models/crafter-van.html "Discover the Volkswagen Crafter: Versatile and Reliable Commercial Van") should be able to handle at least some of the same terrain as the Amarok. - Driver assist systems and plenty of tech. - Available with the tray factory-fitted so it’s ready to work. - Depending on set-up and variant, choice of two 2.0 TDI engines and auto or manual transmission. - LWB with a larger payload than the Amarok. - In the tray configuration, could be set up to take your toys such as dirt bikes and MTBs, inflatables and other sporting gear. ## Business Car Finance Options Whether you choose a ute or a double or single cab chassis as your work vehicle, Jade Car Loans offers the same finance products for the purchase:- - [ABN car finance](/abn-car-loan "Fueling Business Mobility: ABN-linked Car Finance Solutions") - [New business car loan](/new-car-finance "Accelerate Your Business: Financing for New Car Acquisitions") - [Car Hire Purchase](/commercial-hire-purchase "Flexible Vehicle Ownership: Explore Commercial Hire Purchase Options") The decision as to which finance is best suited to your business will be determined by the accounting method used by your operation and your financial objectives. We recommend you discuss this aspect with your accountant. If you are looking to take advantage of the Federal Government’s current asset depreciation schemes such as [BBI](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Backing-business-investment---accelerated-depreciation/ "Boosting Business Investments: Accelerated Depreciation Opportunities") and Instant Asset Write-Off, Chattel Mortgage is best suited to realise the benefits of these measures. Subject to your business and the vehicle meeting the eligibility conditions and requirements of the individual schemes. Reminder: IAWO expires on 31 December 2020 while BBI is available on selected assets purchased and in operation by 30 June 2021. All our business lending facilities include:- - Fixed interest rate - Repayments fixed - Loan term fixed - Option for a balloon or residual depending on finance selected The interest rates we can achieve are at the same cheap levels for both utes and cab chassis vehicles. Interest rates and loan terms and conditions are not necessarily affected by the type of business vehicle but are determined by the profile and individual details of the borrower. Except for second hand vehicles where age and condition will be taken into consideration. Your Jade Car Loans consultant can handle the finance process for you to save you time, hassle and most likely money. We have strong bargaining power in the motor vehicle lending sector which enables our consultants to negotiate better interest rates and more attractive loan conditions for our customers. So whichever decision you arrive at – ute or cab chassis, Amarok or Crafter, Jade Car Loans has the flexibility and availability to assist with your cheap vehicle loan. Contact us for quotes on both vehicles if that will assist with your decision making or use our loan calculator for rough ballpark estimates. **For a quote on a ute or a double cab chassis, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: INFORMATION, DATA AND DETAILS OF GOODS, POLICIES AND PROGRAMS THAT IS PRESENTED IN THE ARTICLE IS INTENDED SOLELY FOR THE PROVISION OF GENERAL INFORMATION. UNDER NO CIRCUMSTANCE IS THIS INFORMATION INTENDED AS THE PROVISION OF FINANCIAL ADVICE FOR ANY INDIVIDUAL AND/OR FOR THE PURPOSE OF MAKING SPECIFIC INDIVIDUAL FINANCIAL DECISIONS. FOR ADVICE ON INDIVIDUAL CIRCUMSTANCES, READERS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPT FOR ERRORS, INCORRECT DETAILS OR INCORRECT PRESENTATION OF DETAILS OF GOODS, PROGRAMS, SERVICES, ETC AS PRESENTED. THE INFORMATION HAS BEEN SOURCED IN GOOD FAITH AS GENERAL INTEREST AND INFORMATION FROM MANUFACTURER, SUPPLIER AND GOVERNMENT WEBSITES.* **Categories:** Uncategorised --- ### [Simpler Lending Rules Flagged](https://www.jadecarloans.com.au/blog/simpler-lending-rules-flagged) **Published:** October 5, 2020 **Author:** Publisher **Content:** A hot topic that has recently entered the finance conversation is the simplifying of rules around some areas of credit and lending. On 25 September 2020 Federal Treasurer, Josh Frydenberg, announced in a pre-budget speech, the Government’s intention to reduce both the time and the cost that is involved in accessing credit by both businesses and consumers. These plans will apply to car loans and motor vehicle finance when they are passed into law. In a media statement, the Treasurer said this was part of the Government’s overall COVID-19 economic recovery plan as credit is critical to the economy. In simple terms, businesses need credit to invest in the production and delivery of goods and services. Consumers need to buy those goods and services for the economy to work. In the case of purchasing goods such as cars, both businesses and consumers usually need a loan or [business car loan](/business-car-finance "Elevate Your Business Fleet: Customised Vehicle Financing Solutions") for the purchase. When credit is difficult to access, consumers and businesses may have trouble getting the loans they require and may not be in a position to make their purchases. So the whole economy slows down. By making credit easier to access, the theory is, that consumers get credit to buy goods and that it will boost the economy and most importantly, create jobs. The Treasurer stated that removing the unnecessary barriers currently involved in accessing credit will allow businesses more opportunities to access investment finance. This may include finance for assets such as cars and allow consumers to spend and purchase cars. The overall intention is to improve the flow of credit from banks and lenders to consumers and businesses. We’ve unpacked the proposed changes that relate to car finance for you to better understand the scenario. But note – these are proposed changes and have not yet been passed into law. The Treasurer said he hoped the changes would come into effect on 1 April 2021. But there is a way to go yet. ## Outline of the Proposed Changes Currently, credit licensees such as Jade Car Loans and banks and finance companies must comply with the ASIC regulations about extending loans to consumers. For full details of our obligations, we refer you to an article in our library on ASIC regulations. Banks must also comply with regulations as set out by APRA – Australian Prudential Regulatory Authority. It is seen that there is duplicity across the regulations and the approach very much places the responsibility on the lender to ensure that the loan being offered is suitable to the borrower. Currently, many consider that some lenders are taking too long to approve loans, especially in the home mortgage area, and questioning ‘every’ expense time on loan applications. While the full details of the changes have not been released, there is an overriding and major shift in perspective about responsibility. Under the proposed changes, the responsibility shifts from the lender to greater responsibility placed on the borrower. One of the key reforms is that lenders can rely on the information that the borrower has provided, potentially using tools like a [business car loan calculator](/car-finance-calculator "Plan Your Business Vehicle Financing: Utilize the Car Loan Calculator"). This simplifies the loan application process, making credit easier and faster to access. There would still be regulations that lenders and credit licensees such as Jade Car Loans will need to adhere to and consumer protections will be in place. To review the [full details of the proposal](https://ministers.treasury.gov.au/sites/ministers.treasury.gov.au/files/2020-09/Consumer-credit-reforms-fact-sheet.pdf "Understanding Changes in Consumer Credit Regulations: Fact Sheet (PDF)"). ## What the Proposed Changes Mean For Your Car Loan - The changes are not planned to come into effect until 1 April 2021. - As the changes apply to new loan applications, those with existing car loans through Jade or other lenders, will not be impacted by the changes. - If you have a car loan application currently being processed, these changes will not affect that application. - If the changes are passed into law and you apply for a car loan after that time that is after April 2021, the application process may be faster and easier than currently applies. ## Timing The changes as announced by the Treasurer are to be presented to Parliament in the Federal Budget brought down on 6 October 2020. Under normal circumstances, the annual Federal Budget is presented in May each year. However, due to the impact of the coronavirus pandemic, it was decided to defer the budget to October. Regarding the simpler credit changes, especially concerning [low doc car loans](/low-docs-car-loans-for-business-vehicles "Streamlined Financing Solutions: Low Documentation Car Loans for Business Vehicles"), the Government has stated that it will first publicly consult with the stakeholders in the sector before they finalise the details of the legislation. Once legislation is drafted, it goes to the houses of Parliament to be passed into law. Very often, Governments need to negotiate with the cross-benches to have their laws approved, and this sometimes results in changes being made. As some groups have expressed concerns over the proposed changes, especially in relation to [No doc car loans](/no-docs-car-loans-for-business-vehicles "Effortless Funding: No Documentation Car Loans for Business Vehicles"), we will need to follow the process closely and wait to see the details and shape of the final laws when the legislation is passed. ## Sourcing a Car Loan NOW If you’re in the market for motor vehicle finance or a consumer car loan now, be assured that while we adhere to our obligations under the ASIC Responsible Lender Guidelines, [Jade Car Loans](/ "Seamless Financing: Jade Auto Loans for Your Business Vehicles") provides prompt and timely service in processing car loan applications. Your consultant can provide a quick quote and on acceptance of that quote, fast approvals and prompt settlement. **To discuss the proposed changes to car loans or receive a quote on a car loan contact Jade Car Loans at 1300 000 003** *DISCLAIMER: DATA, DETAILS AND INFORMATION IN REGARD TO POLICIES, GOVERNMENT PROGRAMS, PROPOSALS AND GOODS AND SERVICE ARE PRESENTED IN THIS ARTICLE FOR GENERAL INFORMATION PURPOSES ONLY. THIS INFORMATION IS, UNDER NO CIRCUMSTANCES, INTENDED AS THE SOLE SOURCE FOR MAKING FINANCIAL DECISIONS OR IS IT INTENDED AS FINANCIAL ADVICE. INDIVIDUALS SHOULD SEEK INDEPENDENT ADVICE IN REGARD TO THEIR PERSONAL FINANCIAL SITUATION. ALL INFORMATION HAS BEEN OBTAINED FROM REPUTABLE SOURCES AND IS PRESENTED AS GENERAL INFORMATION AND INTEREST. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATION OF INFORMATION AND DETAILS OF GOODS ETC AS PRESENTED.* **Categories:** Uncategorised --- ### [Breaking it Down: Car Leasing Analysis](https://www.jadecarloans.com.au/blog/breaking-it-down-car-leasing-analysis) **Published:** October 8, 2020 **Author:** Publisher **Content:** While there has been a lot of requests for Chattel Mortgage car finance by our business customers wanting to take advantage of the [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Expanding Business Deductions: Extended Instant Asset Write-Off Updates"), car leasing remains a very popular form of vehicle finance. We continue our analysis of different types of finance with a break it down look at motor vehicle leasing. Leasing is a very commonly used form of finance for the purchase of a wide range of assets, including motor vehicles to be used in a business. Many of our Jade Car Loans customers request leasing as their form of [business car loan](/business-car-finance "Fuel Your Business Fleet: Customized Vehicle Financing Solutions") or finance for passenger cars, executive vehicles, utes, light commercial vans, wagons, and SUVs. Leasing can be used for the purchase of the full range of business vehicles. ## Concept and Defining Features - With Leasing, the lender purchases the vehicle and leases it back to the borrower. This type of finance facility is known as an off-balance sheet loan. - In the event of the borrowing business defaulting on their loan commitments, the lender takes full possession of the vehicle. - The borrower selects the vehicle they wish to purchase and contacts a lender, such as [Jade Car Loans](/ "Your Path to Vehicle Financing: Explore Jade Auto Loan Options"), to arrange the finance. In arranging finance, after consultation with their accountant, if the borrower has chosen leasing as their preferred finance facility, a quote is sought for leasing. - With leasing, the lender purchases the vehicle according to the finance agreement. - The borrower, however, has full use of the vehicle once the finance and purchase process is finalised and is responsible for the ongoing costs associated with operating the vehicle. - As the vehicle is purchased by the lender, the asset is entered on the balance sheet of the lender, not the borrower. This is considered in the industry as improving the balance sheet for the borrowing business. A feature which may be considered favourable by many businesses. - As the business does not have the asset on its balance sheet, they are not in a position to take advantage of investment incentive schemes and measures that involve accelerated or enhanced depreciation. Such current measures include the IAWO and [BBI (Business Backed Investment)](https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business "Fostering Business Growth with Backed Investments: BBI Insights and Support"). - If businesses do see an advantage in these measures, they would need to purchase their vehicles under a Chattel Mortgage finance facility. ## Leasing Structure - While the lender holds title and ownership of the vehicle, leasing does follow a fairly standard loan structure. - Our car leasing deals are all negotiated at our cheap interest rates which are fixed for the leasing term. This low interest rate then determines the monthly lease payments. - Leasing payments are fixed in monthly instalments which are due for payment on a set date each month. - The leasing term is fixed in negotiation with the lender – your Jade consultant will handle those negotiations on your behalf. Lenders will have individual requirements regarding leasing terms. The usual lease term is 48 or 60 months. - There is an option for a residual to be included in the lease deal. This is a percentage of the vehicle purchase price that is deferred for payment at the end of the lease term. It is not included in the monthly leasing instalments. - The residual is due to be paid when all monthly payments have been finalised. The borrower negotiates the payout with the lender to take full ownership of the vehicle. - Lenders will have individual guidelines around the amount of residual based on the vehicle and the borrower profile. ## Accounting Requirements and Tax Obligations - Leasing is suited to businesses that use the accruals method of accounting. For an explanation of the different accounting methods, accruals and cash accounting, refer to the article in our resources library. As with all business vehicle finance, we strongly advise that our clients refer to their financial advisor or accountant to discuss the most appropriate finance facility for their business structure. - As the lender is purchasing the vehicle by leasing structure, they pay and claim the GST which applies to the purchase. - The borrowing business is then charged GST on the monthly lease instalments. They can claim this back on the relevant BAS return. GST is not applied to the interest portion of the repayment. - The monthly lease instalments are viewed as an operating expense for the borrower and as such is a tax deduction. ## Leasing Suitability - Many different types of businesses may be suited to using leasing to purchase their vehicles. These include companies, SMEs sole traders, partnerships, large corporations and ABN-holders. - If you have been approved for docs or [no docs car loan](/no-docs-car-loans-for-business-vehicles "Simple Financing Solutions: No Documentation Car Loans for Business Vehicles"), leasing may be selected as your preferred finance type, subject to the individual requirements of the lender. - Pre-approved leasing is available through Jade Car Loans. - The full range of business vehicles can usually be acquired with leasing. ## Sourcing a Great Vehicle Leasing Deal A cost-effective vehicle leasing deal that works with your business cash flow and towards achieving your finance objectives starts with getting the cheapest interest rate loan. Jade Car Loans specialises in all forms of business vehicle finance, including [low doc car finance](/low-docs-car-loans-for-business-vehicles "Flexible Funding Options: Low Documentation Car Finance for Business Vehicles"), and is renowned for our better interest rate policy. Incorporating the keyword “abn car loan” into your provided text once, we can phrase it like this: To source a leasing quote for your purchase or an [ABN car loan](/abn-car-loan "Drive Your Business Forward: Car Financing Solutions for ABN Holders"), simply make contact with us and one of our consultants will assist you. We work with a large number of banks and non-bank lenders that offer car leasing. We’ll handle not only the quote and sourcing of the lease but negotiate hard on your behalf to achieve the lowest interest rates and most favourable terms and repayment levels. **For a leasing quote on your next vehicle purchase, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: DATA, DETAILS AND INFORMATION IN REGARD TO POLICIES, GOVERNMENT PROGRAMS, PROPOSALS AND GOODS AND SERVICE ARE PRESENTED IN THIS ARTICLE FOR GENERAL INFORMATION PURPOSES ONLY. THIS INFORMATION IS, UNDER NO CIRCUMSTANCES, INTENDED AS THE SOLE SOURCE FOR MAKING FINANCIAL DECISIONS OR IS IT INTENDED AS FINANCIAL ADVICE. INDIVIDUALS SHOULD SEEK INDEPENDENT ADVICE IN REGARD TO THEIR PERSONAL FINANCIAL SITUATION. ALL INFORMATION HAS BEEN OBTAINED FROM REPUTABLE SOURCES AND IS PRESENTED AS GENERAL INFORMATION AND INTEREST. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATION OF INFORMATION AND DETAILS OF GOODS ETC AS PRESENTED.* **Categories:** Uncategorised --- ### [Federal Budget: Good News for Business Car Buyers](https://www.jadecarloans.com.au/blog/federal-budget-good-news-for-business-car-buyers) **Published:** October 12, 2020 **Author:** Publisher **Content:** After several weeks of pre-budget announcements, the actual announcement of the 2020/21 Federal Budget on 6 October may have seemed somewhat of an anti-climax for many keen observers. But in this unprecedented year of never-ending twists and turns, any form of clarification and certainty, especially in terms of the nation’s finances and Government policy around our money, is sure to be welcomed. Anticipated or not, there are several measures in this year’s budget which should be good signs for businesses considering acquiring new vehicles. At [Jade Car Loans](/ "Navigate Vehicle Financing: Explore Jade Auto Loan Opportunities") we’ve flagged several key issues which may have a positive impact on those seeking car finance. For those, not so keen observers and those who would appreciate a little more detail than the media headlines, the spruiking and the criticism, we’ve singled out what we see as the measures that matter most concerning business vehicle purchases and finance. ## Overview On October 6, the Federal Treasurer, [Josh Frydenberg](https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018 "Insights from Josh Frydenberg: Treasury Minister's Profile") brought down the 2020/21 Federal Budget which had been delayed from the usual May timing due to coronavirus. The reading or bringing down of the budget is just the first step in the process. The budget bill must then be passed by both houses of Parliament for the measures to come into effect. The opposition quickly flagged their intention to pass the key measures. The budget overall is historic due to the extraordinary level of Government spending included to stimulate the economy through the COVID recovery and recession and the turnaround in the approach of the [Liberal-National Government](https://www.liberal.org.au/ "Exploring the Policies of the Coalition Government: Liberal-National Alliance") from their previous intention of delivering a surplus. The budget includes significant measures for businesses with a major focus on a business-driven recovery. Key measures include wage subsidies and investment incentives. ## Instant Asset Write-Off Expanded The good news for businesses considering buying new vehicles, or contemplating a [car hire purchase](/commercial-hire-purchase "Optimal Vehicle Ownership: Explore Commercial Hire Purchase Solutions"), is the extension of the existing Instant Asset Write-Off scheme and a new investment allowance measure. The IAWO was first introduced in March as a short-term stimulus measure to incentivise business investment with a $150,000 limit on the assets to be purchased and limits around the size of businesses eligible. The 30 June deadline was then expanded to 31 December 2020. In the budget, we have an extension of the time frame, expansion of eligibility of businesses and an increase in the value of allowable assets. There are several varying aspects to investment allowance. ## IAWO and Investment Allowance Details Until the budget bill is passed by Parliament, specific details are not available through the Treasury website, but we will stay across that and bring you updates when available. What we can provide is an overview of the budget measures: - Businesses with turnover up to $5b: temporary tax incentive – deduct the full cost of eligible depreciable assets from the date the budget was announced, 6 October 2020 through to 30 June 2020. The asset must be purchased, installed and used by 30 June 2022 and tax benefits realised in the appropriate tax year. - SMEs – businesses with turnover up to $500m: instantly write-off assets with a value of up to $150,000. The deadline for the [IAWO](/blog/news-instant-asset-write-off-extended "Unlocking Business Deductions: Extended Instant Asset Write-Off (IAWO)") extended to 30 June 2021. - SMEs – businesses with turnover up to $500m: apply ‘full expensing’ to second-hand assets. - Businesses with turnover of $50-$500m: claim a full deduction for second-hand assets with a value up to $150,000 under existing IAWO if acquired by 31 December 2020. Most business vehicles will come in under that $150,000 threshold so these investment allowances may represent a decision-maker for businesses considering upgrading their vehicles shortly. ## Luxury Car Tax and Import Duties No changes were flagged to change the controversial LCT or to reduce import duties for those countries that Australia does not have a free trade agreement with. However, for those considering a [business car loan for new business](/new-car-finance "Driving Success: New Business Car Financing Solutions"), it’s essential to monitor these developments. According to reports, discussions with several countries regarding FTAs are either underway or being considered. If successfully negotiated, this may see a decrease in the price of some vehicles. ## Roads, Infrastructure, Manufacturing and Housing Measures Businesses may be interested in what opportunities the budget presents for their specific industry as the decision to acquire new vehicles may be predicated on growth prospects for your business. Here are a few that may be of interest to your sector:- - Infrastructure and Roads: Major investments in these areas may represent business apps and the signal for new vehicles for those in construction, civil works, engineering and associated industries. - Manufacturing: The government’s Modern Manufacturing Strategy is a $2b program to support 6 key priority sectors. - Housing: Budget announcements around the first home buyers grant scheme are designed to boost construction in the housing sector. ## Finance and Investment Allowances To take advantage of the investment allowances announced, businesses will need to select the appropriate finance product for the purchase of their vehicles, considering factors such as [business car loan interest rates](/car-finance-interest-rates "Navigating Business Vehicle Financing: Explore Car Loan Interest Rates"). These announcements all relate to accelerated depreciation and instant write-off measures which involve the asset being entered on the business balance sheet. With Chattel Mortgage, often considered a form of [ABN car finance](/abn-car-loan "Driving Business Growth: Vehicle Financing Solutions for ABN Holders"), the car is entered on the borrower’s balance sheet and is then depreciated in line with ATO rulings. With Vehicle Leasing, the car appears on the lender’s balance sheet and as such cannot be depreciated by the borrower. Business owners are advised to check the specifics of all Budget announcements to ensure relevance to their business and consult with their accountant. We will stay across the detail and provides updates in our articles library as further information is released. **To take advantage of the investment allowances, contact Jade Car Loans at 1300 000 003 for a** **quote on [business car finance](/business-car-finance "Empowering Your Business Fleet: Customized Vehicle Financing Solutions").** DISCLAIMER: THE DETAILS, INFORMATION, DATA AND MATERIAL PRESENTED IN THIS ARTICLE HAS BEEN SOURCED, IN FOOD FAITH, FROM REPUTABLE SOURCES IN THE PUBLIC DOMAIN. INFORMATION IN RESPECT OF GOVERNMENT ANNOUNCEMENTS*, POLICIES, PROGRAMS, MANUFACTURER’S GOODS AND SERVICES AND OTHER SUBJECT MATTER IS OFFERED FOR GENERAL INFORMATIVE PURPOSES ONLY AND NOT IN ANY WAY INTENDED AS A SOLE SOURCE FOR THE PURPOSE OF MAKING FINANCIAL DECISIONS. NO LIABILITY IS ACCEPTABLE FOR ANY ERRORS OR MIS-INTERPRETATION OF FACTS AND MATERIAL. IF A PERSON CONSIDERS THEY REQUIRE FINANCIAL ADVICE IN REGARD TO THEIR SPECIFIC AND INDIVIDUAL CIRCUMSTANCES, THEY SHOULD SEEK INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Personal Car Loans and the Budget](https://www.jadecarloans.com.au/blog/personal-car-loans-and-the-budget) **Published:** October 15, 2020 **Author:** Publisher **Content:** While the pre-budget announcements took a lot of the excitement and anticipation out of the formal release of the 2020 Federal Budget on 6 October, at least all is now known and people can start making plans accordingly. If your plans include buying a new car with a [personal car loan](/personal-car-finance "Driving Your Dreams: Explore Personal Car Financing Options"), then there are several aspects of the budget of relevance. There is also relevance for our existing [Jade Car Loans](/ "Navigate Your Vehicle Financing: Discover Jade Auto Loan Solutions") customers. This was a very different budget announcement for several reasons not least being that it was delayed from May to October due to coronavirus and the primary focus had to be on dealing with the economic effects of the pandemic. With our area of interest being car loans, we cover the measures announced in the budget that may influence your car buying and financing. The two in particular are the income tax cuts and changes to [consumer credit laws](https://asic.gov.au/regulatory-resources/credit/ "Understanding Credit Regulations: Exploring Consumer Credit Laws"). While much of the focus is on a business-led recovery, the budget does include the big ticket item of interest for most wage-earning individuals – income tax cuts! While exciting, some of these tax cuts were already planned and included in the multi-stage tax changes announced in last year’s budget. So what’s in it for you? ## Personal Income Tax Changes In the 2018 Federal Budget, the Government announced a raft of changes to personal income tax across 3 stages. Stage 1 has already been introduced and Stage 2 was to be introduced from 1 July 2022. But in good news for some taxpayers, Stage 2 of the Personal Income Tax Plan will be brought forward to 1 July 2020. ## What are the changes? Some of the changes to personal income tax were already legislated, which means they were already slated to happen. These are the new arrangements as slated to start from 1 July 2020 rather than 2022:- - The low income tax offset is increased from $445 to $700. - The LAMITO (low and middle income tax offset) remains for the 2020/21 tax year. This can represent a tax reduction of up to $1080 depending on income. - An additional one-off benefit to the low and middle income tax offset. - The 19% tax bracket threshold increases from $37,000 to $45,000. - The 32.5% tax bracket threshold increases from $90,000 to $120,000. ## What does this mean for you? In a nutshell, if your income falls in the relevant tax brackets, you may be paying less tax. That is you will have less tax deducted from your wages starting from 1 July 2020 and more dollars to spend. The Government has announced these tax cuts will be back-dated so those in those categories will be due to be refunded the tax they’ve already paid since 1 July 2020 to when the new tax schedules are put in place. Normally changes to income tax are announced in the Federal Budget in May and brought into effect from the following 1 July in line with the financial year. This provides for a streamlined transition to any new tax rates for businesses. However, the delay of the budget from May to October has meant these tax changes are out of sync with the usual implementation schedule. Following these Budget announcements, the Federal Opposition quickly announced it would support these key budget measures. By informing the Treasury of this decision, the ATO could proceed with preparing the necessary revised tax schedules and distributing them to businesses. Work also needs to be done with payroll tax software systems to be adjusted to the new rates so businesses can start paying employees the new amounts. According to reports, the new rates should be in place by November. So what of the ‘overpayment’ of July-October tax? Your wages would have been deducted tax at the old rate during this period and as such you may be due a refund. This could be an opportunity for some to consider a [new business car loan](/new-car-finance "Driving Entrepreneurial Ventures: Explore New Business Car Financing"). There was some initial confusion post-budget around this aspect. The Treasurer’s wording to the effect of getting cash into the hands of consumers in weeks was taken by some to mean that taxpayers would receive a cash refund in November-December. However, on further questioning, this was clarified that any ‘refunds’ would be applied to the tax return when submitted at the end of the financial year, 30 June 2021. The [LAMITO](https://www.ato.gov.au/individuals/income-and-deductions/ "Unlocking Tax Insights: Learn About LAMITO (Income and Deductions)") is also applied at tax return time. ## What could this mean for your car loan? With more dollars in your pocket each week from now on, you may consider now is the time to get that new car. Head to our [Business car loan calculator](/car-finance-calculator "Plan Your Business Vehicle Financing: Utilise the Car Loan Estimator") to work out a rough idea of estimates on the car you are considering. [Personal Secured Car Loans](/secured-car-loans "Secure Your Ride: Exploring Personal Secured Car Loan Options") allow for additional payments to be made. So you may choose to use your tax cut to pay off your car loan earlier. ## Changes to Consumer Credit Laws Another major inclusion regarding personal car loans in the 2020/21 Budget relates to changes to consumer credit laws. We covered the issue in great detail when the pre-budget announcement was made by [Treasurer Josh Frydenberg](https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018 "Insights from Treasurer Josh Frydenberg: Profile and Contributions"). We encourage you to refer to that article, but in brief, the Government intends to simplify the existing consumer credit laws, especially regarding perceived barriers and duplication in the process, to allow a better flow of credit. This includes considerations around [low doc car finance](/low-docs-car-loans-for-business-vehicles "Effortless Funding Solutions: Low Documentation Car Financing for Business Vehicles"). These laws are slated to come into effect from April 2021 and will not impact current car loans or those that have applications currently being quoted or processed with Jade Car Loans or other lenders. **If the budget has increased your interest in buying a new car, contact Jade Car Loans at 1300 000 003 for a quote on a Secured Car Loan.** DISCLAIMER: THE DETAILS, INFORMATION, DATA AND MATERIAL PRESENTED IN THIS ARTICLE HAS BEEN SOURCED, IN FOOD FAITH, FROM REPUTABLE SOURCES IN THE PUBLIC DOMAIN. INFORMATION IN RESPECT OF GOVERNMENT ANNOUNCEMENTS*, POLICIES, PROGRAMS, MANUFACTURER’S GOODS AND SERVICES AND OTHER SUBJECT MATTER IS OFFERED FOR GENERAL INFORMATIVE PURPOSES ONLY AND NOT IN ANY WAY INTENDED AS A SOLE SOURCE FOR THE PURPOSE OF MAKING FINANCIAL DECISIONS. NO LIABILITY IS ACCEPTABLE FOR ANY ERRORS OR MIS-INTERPRETATION OF FACTS AND MATERIAL. IF A PERSON CONSIDERS THEY REQUIRE FINANCIAL ADVICE IN REGARD TO THEIR SPECIFIC AND INDIVIDUAL CIRCUMSTANCES, THEY SHOULD SEEK INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Full Expensing? Write-Off? Depreciation?](https://www.jadecarloans.com.au/blog/full-expensing-write-off-depreciation) **Published:** October 19, 2020 **Author:** Publisher **Content:** When the Federal Treasurer released the [2020/21 Budget](https://budget.gov.au/index.htm "Exploring the Fiscal Plan: 2020/21 Budget Insights and Overview") on 6 October, he introduced a term into the business financial vernacular that many regular everyday business owners had not heard of before – ‘full expensing’. Just as you’ve spent the past 6 months getting your head around the finance terminology and implications around [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Expanding Business Deductions: Extended Instant Asset Write-Off Updates"), the Treasurer gives us another assignment to hit the textbooks – getting into ‘full expensing’ and working out how it differs from an asset write-off and depreciation. For some of us, yes, you can feel the headache coming on. But this could mean tax deductions which mean more cash flow or profit for your business. Worth a little effort and study time? Read on, we’ve done some of the hard work for you. ## Explainer The Budget includes temporary full expensing and an extension and enhancement to the already introduced Instant Asset Write-Off (IAWO) scheme. Both full expensing and asset write-off involve a business claiming the full purchase price of the asset as a tax deduction in the year of acquisition rather than having to depreciate the asset incrementally over several years. Depreciating assets, such as business vehicles, at the rate set by the [Australian Taxation Office (ATO)](https://www.ato.gov.au/ "Your Taxation Resource: Explore the Australian Tax Office (ATO)") is the standard way of claiming tax deductibility for assets. So what’s the difference between full expensing and IAWO and why the need for two different measures? In seeking a simple differentiation between the two concepts we referred to the ATO resources for clarification. At the time of preparing this article, we were unable to source specific Fact Sheets on all the new Budget announcements. However, we were able to source a rather simple explanation on the ATO Community forum. In the ATO community feed, in response to the same question from a business owner, the ATO explained there are several key differences. - IAWO has a threshold amount for the value of assets at $150,000 and full expensing has no threshold. - The size of the business is a deciding factor as to which measure can be implemented. IAWO is not available to businesses with over $500m in aggregated turnover. - Full expensing is available to larger businesses as it has a threshold of $5 billion turnover. So if your business turnover is less than $500m and the vehicle you are purchasing is less than $150,000 the IAWO is applicable. If your business turnover is between $500 million and $5 billion, regardless of the purchase price of the asset, in our area of interest that is vehicles, full expensing can be implemented. ## Timeframes Both temporary full expensing and IAWO have timeframes and businesses will need to adhere to the deadlines for the purchase and implementation of the cars/vehicles/assets to take advantage of these budget measures. Under temporary full expensing, eligible assets must be acquired and installed after the time the Treasurer announces the Budget which is 7.30 pm 6 October 2020 AEDT and by 30 June 2022. IAWO previously had a deadline of 31 December 2020 and that has been extended to 30 June 2021 for eligible assets. After that date, one presumes businesses can utilise temporary full expensing for eligible assets through to 30 June 2022. ## Asset Eligibility There appear to be some differences between the treatment of new as opposed to second-hand assets. - Temporary full expensing for the most part relates to new assets. - Second-hand assets appear to be eligible for businesses in the turnover less than $50m category. - Businesses in the $50m-$500m category can claim eligible second-hand assets if the cost is less than $150,000, purchased before 31 December 2020 and installed and in operation by 30 June 2021. ## Financing Decisions In addition to the turnover and price of the vehicles, businesses also need to purchase the assets with a suitable [business car finance](/business-car-finance "Driving Business Success: Tailored Vehicle Financing Solutions") product to be able to realise the tax deduction. As we have covered in many articles, to be able to depreciate an asset, that asset must appear on the business balance sheet. Vehicle Leasing is an off-balance sheet finance facility and as such the borrowing business is not in a position to depreciate the asset. However, businesses opting for vehicle leasing can realise tax deductions in the leasing payments. To further assist in understanding the financial implications, a [business car finance calculator](/car-finance-calculator "Plan Your Business Vehicle Financing: Use the Car Finance Estimation Tool") might be a helpful tool. With Chattel Mortgage, often an option for those looking into an [ABN car loan](/abn-car-loan "Empower Your Business Mobility: Car Financing Solutions for ABN Holders"), the vehicles are entered on the operational balance sheet and are depreciated according to the rulings in place. That is, a car purchased with Chattel Mortgage within the timeframes, by eligible businesses and within the values, can be depreciated under either IAWO or temporary full expensing. ## Moving Forward So now you have a basic explainer, as always, we advise that businesses refer to their accountant for specific direction regarding their arrangements. To take advantage of the benefits on offer plus the current low interest rate environment, now may be the time to upgrade your business vehicles. Contact [Jade Car Loans](/ "Your Path to Vehicle Financing: Discover Jade Auto Loan Options") for a quote on a Chattel Mortgage or head to our calculator page to work out rough repayment estimates. **To take advantage of temporary full expensing or IAWO as outlined in the Budget, contact Jade Car Loans at 1300 000 003 for a quote on business vehicle finance.** DISCLAIMER: THE DETAILS, INFORMATION, DATA AND MATERIAL PRESENTED IN THIS ARTICLE HAS BEEN SOURCED, IN FOOD FAITH, FROM REPUTABLE SOURCES IN THE PUBLIC DOMAIN. INFORMATION IN RESPECT OF GOVERNMENT ANNOUNCEMENTS*, POLICIES, PROGRAMS, MANUFACTURER’S GOODS AND SERVICES AND OTHER SUBJECT MATTER IS OFFERED FOR GENERAL INFORMATIVE PURPOSES ONLY AND NOT IN ANY WAY INTENDED AS A SOLE SOURCE FOR THE PURPOSE OF MAKING FINANCIAL DECISIONS. NO LIABILITY IS ACCEPTABLE FOR ANY ERRORS OR MIS-INTERPRETATION OF FACTS AND MATERIAL. IF A PERSON CONSIDERS THEY REQUIRE FINANCIAL ADVICE IN REGARD TO THEIR SPECIFIC AND INDIVIDUAL CIRCUMSTANCES, THEY SHOULD SEEK INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [The Budget and Your Car Loan](https://www.jadecarloans.com.au/blog/the-budget-and-your-car-loan) **Published:** October 23, 2020 **Author:** Publisher **Content:** Quickly following the announcement of the Federal Budget by Treasurer [Josh Frydenberg](https://en.wikipedia.org/wiki/Josh_Frydenberg "Exploring the Profile of Josh Frydenberg: Wikipedia Overview") on 6 October 2020 we published articles outlining the basic inclusions and key initiatives from a general reporting perspective. With the major centrepiece legislation passing both houses of parliament by 9 October, we can now drill down into some of the details. Specifically in our sphere of interest, we’re focussing on personal car loans and business vehicle finance. ## Personal Car Loans: Budget Impacts The centrepiece of the Federal Budget for most taxpayers was without doubt the tax cuts. While they were already legislated, they were not meant to come into effect for another 2 years, in 2022. To boost the economy by putting more income into the hands of consumers, Stage 2 of the overall tax plan was brought forward to 1 July 2020. On many occasions in the past, the Government of the day has had to do a lot of negotiating with the cross benchers and making changes to legislation to get bills, including the annual budget, passed. But the 2020/21 Budget was fast-tracked and was passed by both houses by 9 October. Effectively making the tax cuts law. As of around 13 October, the Australian Taxation Office (ATO) had prepared the new tax schedules. From that point, it was up to your employer when they had their systems and upgrades in place to start issuing wages at the new tax rates. While those eligible, including some who might be looking into “[no doc car loans](/no-docs-car-loans-for-business-vehicles "Simplified Funding Solutions: No Documentation Car Loans for Business Vehicles")“, are keen to start receiving the extra dollars in each pay packet, any delay won’t affect the overall outcome. The period from 1 July up to the receipt of the tax cuts will be reconciled in each person’s individual income tax return after 30 June 2021. With the low and middle income offset continuing this tax year, eligible taxpayers can expect a tax return for the 2020/21 year. ## Impact on Personal Car Loans When applying for a [personal car loan](/personal-car-finance "Driving Your Desires: Explore Personal Car Financing Options"), your application is assessed on your after-tax or net income and expenses. The tax cuts will increase the net income of eligible taxpayers. Having a higher net income may enhance your car loan application. We cover the different scenarios at different stages of car loan applications for the impacts:- - **Existing car loan holders:** An increase in your net income due to the tax cuts will not impact those who currently have car loans. However, both secured car loans and unsecured personal loans allow for additional payments. By making additional payments you pay off the loan earlier. Be mindful that break fees apply for early payment on some loans. - **In the process of applying for a car loan with the application already submitted:** if your application was submitted based on your pre tax cut earnings, you may like to contact your Jade consultant and amend your application with the revised net income. This may enhance your application in terms of your ability to furnish the loan. - **About to purchase a car and apply for a personal car loan:** If you have received a tax cut, your net earnings will be higher. This will be included when you contact Jade and go through the loan application process with your consultant. - **Planning to proceed with a car purchase and car loan after 1 April 2021:** In addition to the tax cuts, changes to consumer credit laws are planned to come into effect from 1 April 2021. We covered the details of these changes in another article and referred you for a review of the specifics. In essence, the changes are designed to simplify the consumer credit process to ease the flow of credit and eliminate duplication in the system which is seen as holding up the process. - **Received your tax cut and thinking of buying a car:** Head to our [business car finance calculator](/car-finance-calculator "Plan Your Business Vehicle Financing: Utilize the Car Finance Estimation Tool") page to calculate rough estimates on what the repayments may be on different-priced cars. ## Business Vehicle Finance Implications There is a raft of business investment measures introduced in the Budget and these are also now brought into law with the passing of the Budget Bill on 9 October 2020. We have published several articles on key aspects based on the pre-budget announcements and will be posting more detailed analyses in future articles. In brief, the annual turnover of your business essentially determines which investment incentives including the [Instant Asset Write-Off scheme](/blog/news-instant-asset-write-off-extended "Expanding Business Deductions: Extended Instant Asset Write-Off Insights"), you can apply to your business. ### About [business car finance](/business-car-finance "Empowering Your Business Fleet: Customized Vehicle Financing Solutions"): - Existing finance contracts in place for vehicles purchased before the introduction of the IAWO in March and before the budget-related measures announced on 6 October, are not eligible to be included. - To be eligible for the budget-related measures (excluding IAWO) eligible businesses need to purchase eligible vehicles after 6 October 2020 and up to 30 June 2022 depending on the measure. It would be our understanding that the relevant date would apply to when the sale contract was finalised for the vehicles, being after 6 October. If you had submitted a finance application before 6 October but it was not finalised and the settlement was achieved after 6 October, the asset should be eligible for the investment allowance/full expensing measures. - To depreciate and write off assets, the asset must be on the business balance sheet. Businesses are advised to discuss the most suitable type of motor vehicle finance for their business with their accountant. At [Jade Car Loans](/ "Navigate Vehicle Financing: Discover Jade Auto Loan Opportunities") we stay across the financial markets and developments in government policies that may impact our customer’s car finance and will publish updates as relevant information or elaboration on key issues becomes available. **If you’re interested in a car loan to purchase a new or used car, contact Jade Car Loans at 1300 000 003 to discuss a quote.** DISCLAIMER: THE DETAILS, INFORMATION, DATA AND MATERIAL PRESENTED IN THIS ARTICLE HAS BEEN SOURCED, IN FOOD FAITH, FROM REPUTABLE SOURCES IN THE PUBLIC DOMAIN. INFORMATION IN RESPECT OF GOVERNMENT ANNOUNCEMENTS*, POLICIES, PROGRAMS, MANUFACTURER’S GOODS AND SERVICES AND OTHER SUBJECT MATTER IS OFFERED FOR GENERAL INFORMATIVE PURPOSES ONLY AND NOT IN ANY WAY INTENDED AS A SOLE SOURCE FOR THE PURPOSE OF MAKING FINANCIAL DECISIONS. NO LIABILITY IS ACCEPTABLE FOR ANY ERRORS OR MIS-INTERPRETATION OF FACTS AND MATERIAL. IF A PERSON CONSIDERS THEY REQUIRE FINANCIAL ADVICE IN REGARD TO THEIR SPECIFIC AND INDIVIDUAL CIRCUMSTANCES, THEY SHOULD SEEK INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Ford's Triumphs and New SUVs to Celebrate](https://www.jadecarloans.com.au/blog/fords-triumphs-and-new-suvs-to-celebrate) **Published:** October 26, 2020 **Author:** Publisher **Content:** The Ford-sponsored [Geelong Cats](https://www.geelongcats.com.au/ "Exploring the World of Geelong Cats: Official Team Website") made it into the historic 2020 AFL Grand Final. Ford Mustangs made it onto the podium at the [Bathurst 1000](https://en.wikipedia.org/wiki/Bathurst_1000 "The Ultimate Race: Unveiling the Bathurst 1000 Legacy") (OK, they were pipped for first by their now former arch rivals Holden). The new Ford Escape, the new Ford Puma SUV launched with promo deals. Just a few reasons we’ve singled out to celebrate the blue oval. Add to those a few more reasons to purchase now – budget measures putting more cash in the back pocket and providing tax benefits for business and as always, cheap interest rate finance from [Jade Car Loans](/ "Navigate Your Vehicle Financing: Discover Jade Auto Loan Solutions"). In the age of COVID-19, Ford has been very proactive in offering buyer incentives and promotions to attract buyers in a contactless environment. Their virtual test drives or ‘desk drives’ are hosted on the company’s social media platforms and allow potential buyers the opportunity for a walk-around of the vehicle by a Ford expert to highlight the key features. When hosted live, these ‘virtuals’ allow customers to ask questions directly in a chat-room style experience. Following the live viewing, they can be viewed online. SUVs have quickly become the vehicle of choice for a massive range of buyers. The suitability of the vehicle for both business and recreational use and the sporty styling builds appeal and the new Ford entrants have the makings of serious competitors to the current market leaders. In this packed vehicle category, the two new stars in Ford’s SUV collection are the Escape and the Puma. Small versus compact, 2 litres versus 1 litre engine, but both with sporty looks, agile performance and according to Ford, packed with performance and tech. Both appear worth serious consideration by SUV buyers. ## Breaking out – New Ford Escape November 2020 marked the arrival date for the new Ford Escape and a possible rival for the multi-award winning and perennial leader of the best-selling lists, the [Toyota RAV 4](https://www.toyota.com.au/rav4 "Exploring the Toyota RAV4: Unveiling Performance and Innovation"). The Escape is in the small SUV category and with a price range roughly between $35,000 and the low $40,000s, this presents as a real contender for the small business owner or company rep and as the off-duty vehicle. The range within the range includes FWD and AWD versions a basic model, a sportier edition, a luxury model and a plug-in hybrid. So buyers can select based on their needs or their budget. The size belies the level of tech, comfort and convenience packed into this SUV. Nimble and agile to suit the urbanite with a fuel-efficient 2 litre petrol or the hybrid, so it’s easier on the fuel pocket. The back seats offer either a complete or partial fold down to provide a handy and extensive cargo area. Ideal for the business person that needs to carry samples, stock and supplies or is on the customer delivery run. For small families, this 5 seater should comfortably handle the school run and the after-school activities. To check out how the Ford advertised pricing might translate into loan repayments based on our current low interest rate on car finance, head to our [business car loan calculator](/car-finance-calculator "Plan Your Business Vehicle Financing: Utilise the Car Finance Estimation Tool") page. ## Leaping into a Puma SUV The all-new Puma SUV is in the compact category with a 1 litre petrol engine which should be ideal for the city driver especially. Available in 3 variants, all FWD, the Puma offers a flexible use of the interior space so business operators and private drivers can adapt the cargo space to their requirements. The back seats offer full fold-down and 60:40 split. The performance is defined as sporty with the Puma offering a 7 speed transmission plus fuel efficient powertrain and it includes 5 different drive modes. The styling is dynamic and the connectivity and tech are right up with the latest and greatest. If you’re tossing up between a Puma or an Escape, speak with one of our consultants for a quick quote on finance – might assist in the decision-making process. ## Ford Finance Deals While Ford may be offering promo deals and special incentives on Escape and Puma models, Jade Car Loans always offers [business car loans](/business-car-finance "Drive Your Business Forward: Tailored Vehicle Financing Solutions") for both business and private buyers. As experts in motor vehicle finance lending, we have access to more choices so we can mine the market for the best and cheapest interest rates and terms and conditions. For business buyers looking to take advantage of the [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Expanding Business Deductions: Extended Insights into Instant Asset Write-Off") or temporary full expensing measures as announced in the Federal Budget, Chattel Mortgage would likely be your choice of finance product. Extremely popular with many types of businesses, especially those considering an [ABN car loan](/abn-car-loan "Fueling Business Mobility: Car Financing Solutions for ABN Holders"), Chattel Mortgage includes a straightforward loan format that your Jade consultant can negotiate and structure to suit your cash flow and expected ROI. Features include:- - Jade’s low interest rate, fixed for the finance term. - Fixed repayments and fixed loan terms, usually up to 60 months. - Option for a balloon. - Tax benefits with the IAWO or full expensing are realised at EOFY. - Full GST can be claimed at the time of purchase. To join the Ford celebration, get a Jade Car Loans pre-approved loan so you are ready to sign when you arrive at the dealership. **For a cheap car loan quote on a Ford Escape or Ford Puma, contact Jade Car Loans at 1300 000 003 for a** **quote on business vehicle finance.** *DISCLAIMER: THIS ARTICLE INCLUDES INFORMATION, DATA, SPECS, DETAILS AND MATERIALS SOURCED FROM EXTERNAL SOURCES SUCH AS MANUFACTURERS, SUPPLIERS, GOVERNMENT DEPARTMENTS AND OTHER ORGANISATIONS AND NO LIABILITY IS ACCEPTED FOR ERRORS IN THE REPRESENTATION OR PRESENTATION OF SUCH INFORMATION. THE ARTICLE IS PRESENTED AS GENERAL INFORMATION ONLY AND IS NOT INTENDED AS SPECIFIC FINANCIAL ADVICE FOR INDIVIDUALS AND BUSINESSES. THOSE REQUIRING ADVICE IN REGARD TO THEIR INDIVIDUAL CIRCUMSTANCES ARE DIRECTED TO SEEK INDEPENDENT ADVICE FROM THEIR FINANCIAL ADVISOR OR CONSULTANT.* **Categories:** Uncategorised --- ### [Handling Everyday Business: IVECO Daily](https://www.jadecarloans.com.au/blog/handling-everyday-business-iveco-daily) **Published:** October 29, 2020 **Author:** Publisher **Content:** The investment allowances presented in the [2020/21 Federal Budget](https://budget.gov.au/index.htm "Navigating Fiscal Plans: Overview of the 2020/21 Federal Budget") are a big incentive for businesses to look at upgrading their vehicles. For van owners, another big driver is the increase in online shopping and resulting increased demand for delivery services due to issues around coronavirus. Many businesses are realising the benefits and the need to handle their deliveries and pick-ups while specialist transport operators realise the need to stay ahead of the competition with efficient, reliable vehicles. Whatever sector of the economy you operate in, if you need a reliable commercial vehicle, the [IVECO Daily van](https://www.iveco.com.au/product/daily-e6-van "Exploring the IVECO Daily Van: Innovative Features and Performance") is a multi-award winner that has earned the right to be high on your list of buying choices. ## Unloading the Daily We’ve checked out some of the reasons that make the IVECO Daily Van worth considering. To assist with your comparisons with other vans, first take note that this won [International Van of the Year](https://en.wikipedia.org/wiki/International_Van_of_the_Year "Prestigious Award: Discover the International Van of the Year") in 2018 and regularly features in the most prestigious vehicle awards programs. IVECO cover a wide spectrum of the market by offering several models with variations in wheelbase, roof height, GVM, capacity and engines. The Daily is head of its class in several aspects including payload, engine power, volume capacity and intervals between oil changes. All factors that buyers would be considering. Covering off factors such as servicing can be important as these determine the downtime. How often and for how long your van may be unavailable for work while it is undergoing scheduled servicing? The Daily offers 3 wheelbase options 3000 mm, 3520 mm and 4100 mm and a volume capacity range from 7.3 to 19.6 square metres. The GVM range will be of interest to SMEs as the 3800 kg variant only requires a passenger car licence. But for those that have a truck licence, a higher rating of 7000 kg is available. There are 3 roof heights available so you can fit those larger, trickier to transport items if required. Engine options are also considerable with choices meeting either Euro 5 or Euro 6 emission standards. The choices are the 2.3 litres 4 cylinder turbodiesel, two options in the 3 litres 4 cylinder turbodiesel which meets Euro 5 and the Euro 6 compliant 3 litres 4 cylinders. 6 speed manual and 8 speed auto transmissions are available. Safety is covered to a very high standard with 4 airbags, ABS, engine immobiliser, anti-slip regulator, hill holder and several optional extra features. IVECO offers many choices including optional packs to adapt your Daily to specifically suit your business application and your daily demands. The load area is generous and provides business owners with a blank canvas to set up the cargo space to suit their requirements. Whether it’s delivery of standard cartons and boxes or transporting your specialist equipment to sites. IVECO has dealers across Australia for you to discuss a deal on the model with the features that best suit your business. To ensure you purchase with a finance deal that also best suits your business, speak with Jade Car Loans about a cheap [commercial vehicle finance](/business-car-finance "Elevate Your Business Fleet: Customized Commercial Vehicle Financing") deal. We can arrange pre-approved finance so you are in a position to place your order quickly, whether it’s for [hire purchase cars](/commercial-hire-purchase "Flexible Ownership Solutions: Explore Hire Purchase Options for Vehicles") or other financing options, and have your Daily at work in your operation as quickly as possible. Pre-approved finance offers significant advantages in providing confidence in the knowledge that your loan has been approved, you know what your repayments will be on a certain purchase price and you know you’ve secured finance at our cheap interest rates. No need to be tempted towards dealer finance which may be priced at higher rates or include higher costs. ## Capitalising on Investment Allowances Eligible businesses can capitalise further on their IVECO Daily purchases courtesy of the Federal Government’s current investment allowances. SMEs may be eligible for the [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Expanding Deduction Opportunities: Extended Insights into Instant Asset Write-Off") while larger operators may consider temporary full expensing. Both these measures allow buyers to realise the tax benefits of deducting the full price of vehicles (up to $150,000 under IAWO) in the financial year of purchase. Normally an asset would be depreciated incrementally at percentages set by the ATO each year over many years. However, to utilise these measures, your IVECO needs to be financed with the appropriate loan products. Specifically, Chattel Mortgage. ## Finance for IVECO Vans Jade Car Loans provides cost-effective finance for the full range of IVECO Vans with a full range of commercial vehicle finance products – leasing, Chattel Mortgage and CHP. Differing tax treatments are offered in each product with Chattel Mortgage the best suited to IAWO and temporary full expensing. With Chattel Mortgage, the van appears as an asset on your business balance sheet and therefore can be depreciated by the investment allowance measures. Leasing is an off balance sheet finance facility with the van entered on the lender’s balance sheet. A chat with your accountant is advisable to decide the way to go for your business operation. Despite differences across finance products, Jade Car Loans ensures all our IVECO Van finance deals include:- - Jade’s cheap [business car loan interest rates](/car-finance-interest-rates) - Fixed elements to assist with your cash flow and planning - Individually negotiated deals to suit your requirements Insert the following keyword [sole trader car loan](/car-chattel-mortgage "Empowering Independent Business Owners: Car Loan Solutions for Sole Traders") to the following only once: While IVECO gives you the choices to make with your van, Jade covers the finance choices through our large lender panel which includes both banks and non-bank lenders. As a finance lender specialising in the motor vehicle sector, our consultants have the expertise and the connections to source better commercial vehicle finance deals. **For a finance quote on an IVECO Daily Van, contact Jade Car Loans at 1300 000 003 to discuss a quote.** *DISCLAIMER: THIS ARTICLE INCLUDES INFORMATION, DATA, SPECS, DETAILS AND MATERIALS SOURCED FROM EXTERNAL SOURCES SUCH AS MANUFACTURERS, SUPPLIERS, GOVERNMENT DEPARTMENTS AND OTHER ORGANISATIONS AND NO LIABILITY IS ACCEPTED FOR ERRORS IN THE REPRESENTATION OR PRESENTATION OF SUCH INFORMATION. THE ARTICLE IS PRESENTED AS GENERAL INFORMATION ONLY AND IS NOT INTENDED AS SPECIFIC FINANCIAL ADVICE FOR INDIVIDUALS AND BUSINESSES. THOSE REQUIRING ADVICE IN REGARD TO THEIR INDIVIDUAL CIRCUMSTANCES ARE DIRECTED TO SEEK INDEPENDENT ADVICE FROM THEIR FINANCIAL ADVISOR OR CONSULTANT.* **Categories:** Uncategorised --- ### [Drive by Holidays: More Great Drives](https://www.jadecarloans.com.au/blog/drive-by-holidays-more-great-drives) **Published:** November 4, 2020 **Author:** Publisher **Content:** It’s official. We have to make the effort and holiday for the good of the country. To assist our pandemic-impacted tourism sector in recovery, Federal, State and Territory Governments are strongly encouraging all of us to take a holiday at home. OK, if we have to then let’s do a great job of it! *(Not that many of us will need much incentive to get out and about after extended lockdowns and iso)* It’s also a great reason to buy a new car with a [cheap Jade Car Loans finance](/ "Affordable Jade Car Financing Solutions: Explore Your Options") deal and leisurely enjoy a great Australian self-drive holiday. Tourism Australia has launched an advertising campaign to motivate Australians to holiday at home by showcasing some great destinations. But we’re focussing on road-based holidays. On holidays you can load up all your recreational gear and the family and/or friends in your SUV in the driveway at home and just head off. So much less hassle than getting transport to the airport and going through all the air travel protocols. Drive holidays can be as easy as selecting your new car, selecting your car loan and selecting your destination. In previous articles we’ve showcased islands you can reach by car so in this article we’re heading bush and checking out rainforests and bushland that you can enjoy for a weekend away or an extended vacation. Plus noting some of the really big things to mark on your itinerary. ## Select Your Route Here are just a few rainforest style drives to inspire your Aussie self-drive holiday plans:- - [Victoria’s Otway Ranges](https://www.parks.vic.gov.au/places-to-see/parks/great-otway-national-park "Venturing into Victoria's Picturesque Otway Ranges") – Turtons Track: While the rest stick to the Great Ocean Road, make you’re your way inland to enjoy the rainforest and the natural beauty of this area. Stop to take in the Otway Fly walkway for amazing views. - [Mount Barney National Park, NSW](https://parks.des.qld.gov.au/parks/mount-barney "Embrace Nature in Mount Barney National Park, New South Wales"): Lions Road from Kyogle to this National Park is reported to be a sensational rainforest drive with many selfie-worthy photo ops. This is near the NSW-Queensland border in the Great Dividing Range where you’ll find several other national parks to explore and towns to stop for accommodation and other facilities. - [Tasmania, Derwent Bridge to Strahan](https://welltravelled.com.au/tips/tasmanian-drive-hobart-strahan/ "Discovering Tasmania's Charm: Derwent Bridge to Strahan Drive"): Tasmania is well-known for its forests, with the west coast boasting some of the oldest on the earth. Start in Hobart and take the Lyell Highway heading to Strahan. At the Derwent Bridge, you’ll see how the vegetation starts to close in with tree ferns, and beech trees and becomes very dense. Stretch your legs on the nature trail walk and see Nelson Falls. - [Kuranda, Queensland](https://www.tropicalnorthqueensland.org.au/where-to-go/kuranda/ "Kuranda, Queensland: Unveiling the Beauty of a Tropical Paradise"): Cairns is a great FNQ town but it’s not the end of the road. Continue on the Kennedy Highway to enjoy the tropical rainforest en route to the market town of Kuranda. Also in the vicinity is the Skyrail cable car and the scenic railway so plenty of reasons to drive up this way. Drive safely and enjoy these amazing Australian drives. ## Select your Car To head off on your drive-by holiday you’re going to need – a car. So why not make it a new car? Despite the disruptions caused globally by the coronavirus pandemic, many car makers still managed to launch their 2020 models into the Australian market. So there is a plethora of new vehicles to choose from. The SUV is high in popularity and ideal for a road trip. The choice across all sizes and price categories in this market is massive. New SUVs to check out include the [Ford Puma](https://www.ford.com.au/suv/puma/ "Introducing the Ford Puma: Elevate Your Driving Experience"), the large number of new Audi models, [Porsche Cayenne](https://www.porsche.com/australia/models/cayenne/cayenne-models/cayenne/ "Elevate Your Driving Experience with the Porsche Cayenne Collection"), Isuzu D-Max or [Mazda BT 50](https://www.mazda.com.au/cars/bt-50/ "Get Ready for Anything with the Mazda BT-50: Your Ultimate Companion") for those who want to take work on holidays or vice versa, [Land Rover Defender](https://www.landrover.com.au/vehicles/defender/index.html "Experience Ultimate Capability and Luxury with the Land Rover Defender") or the evergreen Toyota RAV4. If you’re wondering what the difference in loan repayments may be from car to car, just use our [business vehicle finance calculator](/car-finance-calculator "Calculate Your Business Vehicle Finance Easily"). Top-down driving would be a great way to enhance the whole driving through a rainforest experience. Offering the opportunity to take in the woody scents and distinctive natural aromas as well as the visual delights. Several car makers have convertibles in their line-up and Jade Car Loans covers all types of cars, so that’s not an issue. ## Select Your Loan With car and holiday route selected it’s down to the details – securing your car finance. With interest rates at all-time lows and IAWO and other tax benefits available for business buyers, this is a popular time to buy a car. Jade Car Loans offers both private vehicle loans and [commercial car loans](/business-vehicle-finance "Unlock Growth with Commercial Vehicle Financing") with our cheap [business car loan rates](/business-car-finance "Get the Best Business Auto Loan Rates") and fixed repayments. - [No doc car loans in Australia](/no-docs-car-loans-for-business-vehicles "Easy Approval: No Documentation Car Loans in Australia") - [Low doc business car loan](/low-docs-car-loans-for-business-vehicles "Streamlined Process: Low Documentation Business Car Loans") - [ABN holder car finance](/abn-car-loan "Special Financing for ABN Holders: Car Loans for Businesses") If you want to get on the road quickly, no problem. Your Jade consultant can provide a quick quote, fast approvals and prompt settlement for a streamlined car finance experience. So as they say – we have to holiday for the country so what are you waiting for? **For a cheap car loan quote, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THIS ARTICLE INCLUDES DATA, SPECIFICATIONS, INFORMATION AND OTHER MATERIAL WHICH HAS BEEN ACQUIRED VIA VARIOUS SOURCES, GENERALLY AVAILABLE IN THE PUBLIC DOMAIN FROM MANUFACTURERS, GOVERNMENT ORGANISATIONS AND SUPPLIERS. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE PRESENTATION AND INTERPRETATION OF THIS INFORMATION. THE ARTICLE IS PROVIDED FOR GENERAL INFORMATIVE PURPOSES AND NOT AS THE SOLE BASIS FOR MAKING FINANCIAL DECISIONS. IF ADVICE ON INDIVIDUAL FINANCES IS REQUIRED, IT IS RECOMMENDED THAT READERS REFER TO A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RAM Trucks: When You Need a Bigger Ute!](https://www.jadecarloans.com.au/blog/ram-trucks-when-you-need-a-bigger-ute) **Published:** November 6, 2020 **Author:** Publisher **Content:** If you’re going to need a bigger ute, then why not make it one of the biggest available? [RAM Trucks](https://www.ramtrucks.com.au/ "Power and Performance: Unveiling RAM Trucks") offer a range of the biggest 4X4s on the market and could be worth considering. The truck reference comes from the company’s US connection and the American terminology ‘pick-up truck’ for what Australians refer to as ‘utes’. Built to take on really heavy duty jobs and tough environments, RAM Trucks are a force to be reckoned with. If you’ve never seen a RAM truck in person, it is quite an experience. These vehicles have a physical presence that simply can’t be ignored. Definitely a ‘stand out from the crowd’ ute. RAM Trucks is a US manufacturer, part of the massive [Fiat Chrysler Automobiles group](https://www.fcagroup.com/en-US/Pages/home.aspx "Navigating the FCA Group: Shaping the Automotive Landscape"), and the vehicles do arrive in Australia with left-hand drive. However, the company has been selling into the Australian market for several years and maintains a facility in Melbourne where each vehicle is essentially re-manufactured for right hand drive purposes. The body and the chassis are separated to allow a re-engineered right hand drive steering system to be fitted. This is followed by the installation of a new dash. The dashboards are produced in Australia, designed and developed for Australian conditions and standards. After the dash and heating and ventilation systems have been installed, the chassis and the body are re-married. The company emphasises the substantial nature and engineering excellence involved in this work and it is far more than a simple LHD-RHD conversion. To dispel any concerns you may have about finance for US-imported and converted vehicles, [Jade Car Loans](/ "Elevate Your Car Dreams with Jade Vehicle Loans") provides our full portfolio of finance products for buyers of RAM Trucks. With our cheap interest rate loans and the investment allowance measures currently on offer, why not get yourself a RAM Truck? ## RAM Trucks: Range There are currently four RAM models available in the 1500 class with a 2500 heavy duty model under wraps and tagged ‘register interest’. The special edition Warlock is also on the books for some dealers. In the 1500 category, the two ranges include the Express and the Laramie with two variants within each. These are crew cab/quad cab vehicles with either V8 Hemi or V6 power. Promoted as full sized trucks, these vehicles offer a realistic solution for operators that need or want more tow capacity, more load capacity and more performance from their workhorse. - [RAM 1500 Express V8 Hemi Quad Cab](https://www.ramtrucks.com.au/vehicles/1500/ "Navigate with Precision: RAM 1500 Express V8 Hemi Quad Cab"): This could be considered the base vehicle in the line-up but as a 5.7 litre, V8 powered machine, it is far from basic when compared with most mid-sized utes and 4x4s on the market. The cargo tub is 6’4” which provides a load length of 1939mm, just a smidge under 2 metres and a width of just over 1.6 metres with 1295 mm between the wheel arches. Inside, the cab is a spacious 5 seater and well-decked with comfort and connectivity features. - RAM 1500 Express Crew Cab: Many of the same features as the Quad with the 5.7 litre V8 engine but with slightly shorter cargo tub at 5’7” but with the same width, being 1295 mm between wheel arches. Large enough to take a pallet. - RAM Laramie 1500 V8 Hemi Crew Cab: This model steps it up in luxury and premium style but with the same V8 engine and the spacious 5’7” cargo tub as the Express Crew model. The interior has leather trimmed features, and according to the manufacturer, more head, shoulder and leg room than your usual 5 seater cab. The Laramie is the top of the RAM range so you can expect those added luxury appointments. - RAM Laramie 1500 V6 Ecodiesel: Similar specs to the Laramie V8 but with the 3.0 litre V6 engine. This is a 5 seater crew cab and with the Laramie, has the 60:40 rear seat split for greater flexibility and versatility. ## Who needs a RAM? RAM Trucks would be suitable for a large number of business operators, in the building and construction, mining and resources, landscaping and property management, agricultural and farming sectors and those running any type of operation that requires easy access into tough terrain and through challenging locations. If you need to tow or load gen set for jobs, possibly a small compactor or excavator, a trailer-load of landscaping equipment or building supplies, load up a full range of tools and machinery so you’ve always got the gear you need for every job then RAM may be the vehicle for you. If financing is a consideration, [low doc car loans](/low-docs-car-loans-for-business-vehicles "Easy Approval: Low Documentation Vehicle Loans") might be an option to explore. ## Finance for RAM Trucks Jade Car Loans offers cost-effective business finance packages for RAM Trucks buyers, with our cheap [business car loan interest rates](/car-finance-interest-rates "Competitive Rates for Commercial Vehicle Financing") built into every deal. Leasing, Chattel Mortgage and CHP are available with fixed interest rates, fixed repayments and a fixed loan term. For those intending to utilise [Instant Asset Write Off](/blog/news-instant-asset-write-off-extended "Expanded Instant Asset Tax Deduction: Latest Updates") or temporary full expensing with your RAM acquisition, you’ll be wanting to consider Chattel Mortgage as the most appropriate finance facility. RAM Trucks are bigger than the average work SUV but your car loan certainly doesn’t have to be ‘bigger’. Find out how we can provide a ‘small’ interest rate loan on your massive RAM truck by giving us a call. **For a finance quote on a RAM Truck contact Jade Car Loans at 1300 000 003 to discuss a quote.** *DISCLAIMER: THIS ARTICLE INCLUDES DATA, SPECIFICATIONS, INFORMATION AND OTHER MATERIAL WHICH HAS BEEN ACQUIRED VIA VARIOUS SOURCES, GENERALLY AVAILABLE IN THE PUBLIC DOMAIN FROM MANUFACTURERS, GOVERNMENT ORGANISATIONS AND SUPPLIERS. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN THE PRESENTATION AND INTERPRETATION OF THIS INFORMATION. THE ARTICLE IS PROVIDED FOR GENERAL INFORMATIVE PURPOSES AND NOT AS THE SOLE BASIS FOR MAKING FINANCIAL DECISIONS. IF ADVICE ON INDIVIDUAL FINANCES IS REQUIRED, IT IS RECOMMENDED THAT READERS REFER TO A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [The Rate that Stops the Nation](https://www.jadecarloans.com.au/blog/the-rate-that-stops-the-nation) **Published:** November 9, 2020 **Author:** Publisher **Content:** The second Tuesday in November is marked in the diary for most Australians for the race that stops the nation – [the Melbourne Cup](https://www.vrc.com.au/ "The Prestigious Melbourne Cup Event"). But the second Tuesday in November and other months also marks the scheduled meeting of the [Board of the Reserve Bank of Australia](https://www.rba.gov.au/about-rba/boards/rba-board.html "The RBA Board: Governing Body of the Reserve Bank of Australia") (RBA). The second Tuesday of November 2020 was more significant than in many years as there were no crowds at Flemington to cheer [Twilight Payment](https://www.punters.com.au/horses/twilight-payment_458702/ "Twilight Payment: Racing Profile and Stats") to the post, the world looked on at the US Presidential Election and in somewhat of a surprise move, the RBA cut the official cash rate. Arguably, the rate that stops the nation! Most people with loans and investments keep a close eye on interest rates. But as a major motor vehicle sector lender, [Jade Car Loans](/ "Your Source for Car Financing: Jade Vehicle Loans") analyses every interest rate fluctuation from a professional and expert perspective. We know what most people want to know is how a cut in the official cash rate affects my loan. We break this latest rate cut down as generally and simply as possible for you. ## What’s the official cash rate? The official cash rate is not the interest rate charged on finances such as [business car loans](/business-car-finance "Explore Commercial Vehicle Financing Solutions"). It is the rate that banks pay for loans to each other. It is described in basis points which is .01%. On 3 November 2020, the RBA cut the rate from 0.25% to 0.1% ## Why did the RBA cut rates? The rate cut was one of several measures taken to support the [Australian economy](https://www.rba.gov.au/snapshots/economy-composition-snapshot/ "An Insight into Australia's Economic Landscape") to recover from the coronavirus pandemic. A reduction in interest rates theoretically encourages businesses to borrow and invest which in turn should create jobs. When the rate cuts are passed onto consumers, primarily through home mortgages, they have more to spend which in turn stimulates the economy. ## What is ‘pass on the cuts’? When the RBA announces a reduction in the official cash rate it is then up to individual banks and lenders to ‘pass on’ that reduction to their customers. The banks and other lenders individually assess how much of that rate cut, in this case 15% they will apply to their customers’ loans. Sometimes the banks pass on the full rate cut, sometimes a portion and sometimes they do not pass on any of the cut. The decision is theirs entirely and will depend on their circumstances at the time. ## Did all lenders pass on the rate cut? It was announced in the days after the RBA cut that the major banks passed on the rate cut to some of their customers. Primarily this was to a selection of home loan mortgage holders and some business loans. ## Will I be better off as a result of a rate cut? For current holders of a [Secured Car Loan](/secured-car-loans "Collateral-Backed Vehicle Financing") (personal) or business vehicle finance contracts such as leasing, Chattel Mortgage and CHP, your loan will not change if it has been arranged at a fixed interest rate. Jade Car Loans arranges cheap [business car loan interest rates](/car-finance-interest-rates) achievable at the time, so customers have certainty with their finance over the loan term. **Do I get a reduction in my car loan interest rate and repayments?** This type of rate cut does not apply to motor vehicle finance. ## Should I refinance with a lower interest rate? You are welcome to discuss refinancing your loan or options like [no doc car financing](/no-docs-car-loans-for-business-vehicles "Streamlined Vehicle Financing: No Documentation Needed") at any time with a Jade Car Loans consultant. Refinancing involves establishing a new loan for the outstanding portion of your existing loan contract. Break fees apply in most cases and these should be weighed up against gain with any reduced repayments. We can give you a quote on refinancing for both personal and business vehicle finance. ## Moving forward…. The take-outs from the November interest rate cuts can be summarised as follows:- - For holders of existing Jade Car Loans, both personal and business, at fixed interest rates, there will be no change to your repayments. - For car loan applications currently being quoted or processed by Jade, your consultant will be sourcing the cheapest rate available – as always! - New car loan and motor vehicle finance will be sourced at the cheapest rate available by your Jade consultant. - If the banks and lenders that we are accredited with reduce their motor vehicle interest rates, we will be adjusting our advertised rate accordingly. - Interest earned on savings accounts is usually reduced by banks in line with their reduction in interest rates on loans. ## Securing Cheap Interest Rate Motor Vehicle Finance Jade Car Loans commits to always sourcing better interest rates and the cheapest interest rate for your requirements, including options for a [sole trader car loan](/car-chattel-mortgage "Independent Operator Auto Financing: Explore Your Options"). With our accreditation across a large number of banks and non-bank lenders, we provide our customers with a distinct advantage in being able to survey a large part of the motor vehicle lending market through one contact. Just contact Jade and we will do the hard work in sourcing the cheapest rate the market is offering that meets your car loan application profile. **For a cheap interest rate car loan deal, contact Jade Car Loans at 1300 000 003** *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.* **Categories:** Uncategorised --- ### [EOY Work Ute and Finance Deals](https://www.jadecarloans.com.au/blog/eoy-work-ute-and-finance-deals) **Published:** November 12, 2020 **Author:** Publisher **Content:** 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](/blog/news-instant-asset-write-off-extended "Instant Asset Write-Off Extension") and temporary full expensing measures coupled with the [November RBA rate cut](https://www.rba.gov.au/media-releases/2020/mr-20-28.html "RBA's November Interest Rate Adjustment"), 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](/car-finance-calculator "Auto Financing Calculator"). ## Ute Offer Roundup - [Mazda BT-50](https://www.mazda.com.au/cars/bt-50/ "Explore the 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](https://www.toyota.com.au/hilux "Discover the Toyota HiLux") continually places in the top selling utes year after year and Toyota is currently advertising an offer on the 4×2 WorkMate petrol, manual model. A driveaway price of under $28,000 is advertised. - In the business stakes, check out the [Mitsubishi Triton](https://www.mitsubishi-motors.com.au/vehicles/triton "Explore 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 4×4 diesel auto](https://www.ldvautomotive.com.au/ "Discover the LDV T60 4x4 Diesel Auto"). - [Isuzu D-Max](https://www.isuzuute.com.au/d-max/overview "Explore the Isuzu D-Max - Uncover the Ultimate Utility Vehicle") 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](https://www.ford.com.au/commercial/ranger/ "Discover the Ford Ranger - Your Ultimate Commercial Companion") 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](https://www.nissan.com.au/vehicles/browse-range/navara.html "Explore the Nissan Navara - Your Next Adventure Awaits") 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](/business-car-finance "Secure Financing for Your Business Vehicle")-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](/ "Your Trusted Source for Auto Financing - Jade Car Loans") continues to support businesses with cost-effective motor [business car finance rates](https://www.jadecarloans.com.au/car-finance-interest-rates.php "Explore Competitive Business Car Finance Rates Here"). 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](https://asic.gov.au/regulatory-resources/credit/responsible-lending/ "Understanding Regulatory 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](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/General-depreciation-rules---capital-allowances/Prime-cost-(straight-line)-and-diminishing-value-methods/ "Depreciation in Accordance with ATO Guidelines: Learn More Here"). 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.* **Categories:** Uncategorised --- ### [Fast Facts for Business Car Finance](https://www.jadecarloans.com.au/blog/fast-facts-for-business-car-finance) **Published:** November 16, 2020 **Author:** Publisher **Content:** When you’re in a hurry to get that new car, we know you don’t want to waste time trawling through the reams of data to get to the essentials you need to know. At Jade Car Loans, saving time (and money) is our in our DNA. So we’re providing this as a ‘cut through’. Cutting through the reams of info on car finance to give you quick brief answers to many FAQs. ## General Info - In general, all types of cars are eligible for finance. That includes SUVs, hatches, sedans, utes, 4WDs, wagons, convertibles and MPVs. Some lenders have minimum loan amounts. - Both new and used cars can be financed. - Vehicles purchased through a [licensed motor dealer](https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/regulated-industries-and-licensing/regulated-industries-licensing-and-legislation/motor-industry-regulation/get-a-motor-licence-or-registration/apply-for-a-motor-dealer-licence "Apply for a Motor Dealer License in Queensland"), private seller or at auction can be financed. - Car finance is available through banks, [finance companies and lenders such as Jade Car Loans](/ "Explore Lending Options Beyond Jade Car Loans"). - Brokers such as Jade are accredited with multiple lenders so we can quickly assess the offers, do the hard and time-consuming work for you, negotiate interest rates and conditions to save you time and deliver cheaper [business car loan rates](/car-finance-interest-rates "Discover Competitive Rates for Business Vehicle Finance"). - There are different types of loans for businesses buying vehicles for use in their business and for private buyers. - The interest rate offered by Jade on business vehicle finance is lower than on personal car loans due to the lower risk assessment and other factors. This is the same across the car finance market. - Every car loan application is addressed individually based on the individual or business and the car being purchased. So all information provided by most sources is subject to individual lenders and individual applications. - Pre-approved car loans are available for both personal and business buyers. This is when we arrange your finances before you do the deal with the seller. The standard loan application procedures and conditions apply for pre-approved finance. - Using a [business car loan calculator](/car-finance-calculator "Access Our Business Vehicle Loan Calculator") or requesting a loan quote is not an obligation to proceed. ## Private Buyers: Personal Loans - You have to be at least 18 years of age to be eligible for a consumer loan. Having a driver’s licence is not a criterion for a loan application. - A parent, sibling or guardian can go guarantor for a loan for an under 18 but should consider the issues around so doing. - The most commonly used loan for private buyers is the [Secured Car Loan](/secured-car-loans "Explore Our Collateral-Based Auto Financing"). - Where the car is not accepted or offered as security for the loan and as such a Secured Car Loan is not appropriate, Jade Car Loans offers the alternative of an [Unsecured Personal Loan](/unsecured-personal-loans "Discover Our Signature Personal Loans"). - To apply for a personal car loan you will need to be 18+, have employment or income stream, ID, and provided documents about income, expenses, assets, debts and other information. - Personal car loans are overseen by ASIC under the [consumer credit laws](https://asic.gov.au/regulatory-resources/credit/ "Explore ASIC's Resources on Credit Regulations") which Jade Car Loans abide by as a Licensed Credit Provider. - Applying for a car loan with Jade can be started via our online form or with a phone call. - You will be assigned a consultant who will handle your entire application. - Jade arranges personal car loans at fixed interest rates, fixed monthly repayments and fixed loan terms. - When official interest rates change as per RBA decisions, your fixed interest rate loan will not change. ## Business Buyers: Commercial Car Finance - To be eligible for [business finance](https://www.business.finance/ "Discover Business Financing Solutions") at a minimum you will need a current ABN and ID. - Being registered for GST with current BAS returns is preferable. - The loan types available are Chattel Mortgage, Vehicle Leasing, [Hire Purchase Cars](/commercial-hire-purchase "Explore Commercial Hire Purchase Options") and Novated Car Lease. - Novated Car Lease with Salary Sacrifice is for employers looking to purchase a car for an employee and that employee selects to sacrifice part of their salary to pay for the car. - 100% of the purchase price can usually be financed. That is essentially no deposit finance. - If a business does not have all the financial documentation that is usually requested by banks, Jade Car Loans offers the opportunity to source a [Low Doc car finance](/low-docs-car-loans-for-business-vehicles "Discover Business Vehicle Low Doc Financing") or [No Doc car Loans](/no-docs-car-loans-for-business-vehicles). - New businesses including start-ups are welcome to apply for finance. If not accepted for finance based on lack of financial records, a Low Docs No Docs option may suit. - Low Docs and No Docs loans attract a higher interest rate and some lenders may attach other conditions. - Loan terms are negotiated by your Jade consultant and usually run for 4-5 years, 48-60 months. - Jade arranges all commercial finance at fixed terms, fixed interest rates and fixed repayments. - A balloon or residual is an option. This is a percentage of the vehicle price, which is deferred for payment at the end of the finance term. - When interest rates vary according to RBA decisions, your fixed interest rate car finance contract will not change. - To apply for commercial vehicle finance, just call Jade Car Loans and you will be assigned a consultant to handle your entire finance contract. ## The Wrap So that’s car loans in 60 seconds or so. Hopefully, we’ve clarified any queries and you can read specific details on each of the points above in our web pages. Alternatively, just contact us to discuss your specific car finance requirements. **For a cheap interest rate car loan deal, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THIS ARTICLE INCLUDES SPECS, DETAILS, DATA, POLICIES AND MATERIAL WHICH HAS IN THE MOST PART, BEEN SOURCED FROM THIRD PARTY SOURCES. NO LIABILITY IS ACCEPTED FOR ANY MISINTERPRETATION OF THAT MATERIAL OR ERRORS IN PRESENTATION. THE ARTICLE IS PROVIDED AS GENERAL INFORMATION FOR READERS AND IS NOT PROVIDED WITH ANY INTENTION THAT IT BE USED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. IT IS NOT OFFERED AS FINANCIAL ADVICE AND IS NO WAY INTENDED AS SUCH. THOSE THAT REQUIRE ADVICE AROUND THEIR INDIVIDUAL FINANCIAL SITUATION SHOULD SEEK CONSULTATION WITH A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Year-End Car Deals: Quick Recap](https://www.jadecarloans.com.au/blog/year-end-car-deals-quick-recap) **Published:** November 19, 2020 **Author:** Publisher **Content:** Word is that many people are using their funds set aside for a Bali, Fiji, Aspen or Riviera holiday this summer to buy a new car. With interest rates on car loans, including options for a [new business car loan](/new-car-finance "Secure Financing for Your New Business Vehicle"), at historic lows, you may be able to keep those holiday funds on hold for when travel is allowed and purchase that new car with a low interest rate loan. Make sense? Possibility? Then which car will you buy? We take a quick browse around the end of 2020 new car deals available from some of the leading car makers. Despite the issues with COVID-19 internationally, many manufacturers still managed to get new models released in Australia throughout 2020. ## Suzuki Driveaway Pricing When it comes to small cars, [Suzuki](https://www.suzuki.com.au/ "Explore Suzuki's World of Vehicles") is a very popular brand. They are currently offering from sub-$20K driveaway prices on [Baleno](https://www.suzuki.com.au/vehicles/hatch/baleno "Discover the Suzuki Baleno - Elevate Your Hatchback Experience"), [Ignis](https://www.suzuki.com.au/vehicles/suv/ignis) and [Swift](https://www.suzuki.com.au/vehicles/hatch/swift) and from sub-$30K on [Vitara](https://www.suzuki.com.au/vehicles/suv/vitara) and [S-Cross](https://www.suzuki.com.au/vehicles/suv/s-cross). The S-Cross and Vitara could be a great value work vehicle for the small business operator. ## Kia Deals The award-winning [Kia](https://www.kia.com/au/main.html "Explore the World of Kia Vehicles") is kicking goals with their versatile range of vehicles. Ideal for both business and recreation. The [Cerato Sedan](https://www.kia.com/au/cars/cerato-sedan/features.html) could make the ideal business vehicle and at advertised under $25,000 till end of November 2020, could be worth a look. But you’ll need to act fast – don’t worry, [Jade Car Loans](/ "Your Gateway to Auto Financing - Jade Car Loans") can act and react with quick quotes and fast approvals. Until the end of November, they’re also advertising deals on the new [Picanto](https://www.kia.com/au/cars/picanto/features.html) and [Rio](https://www.kia.com/au/cars/rio/features.html). ## Hyundai Run Out Event The Hyundai Palisade is coming soon and pre-orders are open. Speak with Jade about pre-approved finance so you are in a position to place your order. On many of their other models, Hyundai is advertising a 2020 Run Out Event on this year’s models. We’re talking on the [Tucson](http://www.hyundai.com/au/en/cars/suvs/tucson.html), [Santa Fe](https://www.hyundai.com/au/en/cars/suvs/santa-fe), [Kona](https://www.hyundai.com/au/en/cars/suvs/kona) and the [Venue](https://www.hyundai.com/au/en/cars/suvs/venue). ## Audi Sales Event [Audi](https://www.audi.com.au/au/web/en.html "Experience Audi Excellence - Visit Audi Australia") is advertising sales event on their Q series with a 24 December 2020 expiry date. Just in time to get a new Audi Q Series under the Christmas tree, for yourself of course. The deal advertised includes complimentary CTP, rego and stamp duty. Check the conditions online. The Q series extends across many of the vehicles from this prestigious German manufacturer including the Q2, Q3, Q5, [Q7](https://www.audi.com.au/au/web/en/models/q7/q7/engines.html), [Q8](https://www.audi.com.au/au/web/en/models/q8/q8/engines.html) and the sporty SQ vehicles. There is apparently an online portal to view what offers are available. ## Alfa Romeo Not clearly noted on the company website, but word is that there are deals to be had on a number of models from this Italian car maker. Check out the [Giulia](https://www.alfaromeo.com.au/giulia.html) and deals on demos of the [Stelvio](https://www.alfaromeo.com.au/stelvio.html). ## BMW Reductions Head to your [BMW](https://www.bmw.com.au/en/index.html "Explore the World of BMW - BMW Australia") dealer to discuss what deals they have on at least one model in the [X5 M Sport](https://www.bmw.com/en-au/models/m-series/x5m-suv/showroom/x5m.html) series. We’ve seen articles which talk about a $10K discount. If buying for business, your BMW may be eligible for [IAWO](/blog/news-instant-asset-write-off-extended). Speak with Jade about structuring an [ABN Car loan](/abn-car-loan "Unlock ABN Car Financing Opportunities") to take advantage of this asset write off. ## Ford Favourites After taking out Bathurst, the blue oval remains a massive favourite with loyal fans. Discounts are apparently available on certain spec’d [Everest](https://www.ford.com.au/suv/everest/), Endura and Escape models. The baby SUV, [Puma](https://www.ford.com.au/suv/puma/) also receives a discount. [Ford Ranger](https://www.ford.com.au/commercial/ranger/) is one of the tradie favourites for a whole heap of reasons and with an apparent discount on some of the dual-cab models, that’s another great reason. Wait, there’s more, [business car loan interest rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Business Car Loans") and the instant asset write-off measures. ## Mitsubishi Magic 10 years capped servicing and 10 year new car warranty headlines the Mitsubishi offers. But we hear there are discounts to be found on several models which dealers will no doubt be keen to move prior to the new ranges arriving in the new year. Check out [Triton](https://www.mitsubishi-motors.com.au/vehicles/triton), [Mirage](https://www.mitsubishi-motors.com.au/), and [Pajero](https://www.mitsubishi-motors.com.au/vehicles/pajero) for starters. You can see what finance deals we may be able to offer you by using our [business vehicle finance calculator](/car-finance-calculator "Access a Business Vehicle Financing Calculator") with driveaway prices advertised. ## Tips for Capturing a Discounted Car Offer When car dealers and manufacturers advertise heavily discounted prices or special offers, you can probably assume they want to move stock. And more stock quickly. They are keen to sell and you can possibly squeeze that little extra if you’re keen to buy and ready to sign. We share a few hints from our vast experience in the [business car finance](/business-car-finance "Investigate Financing Options for Business Vehicles") sector. - Use our calculator while you’re browsing to get a rough estimate of possible repayments. This will help you narrow down your list of cars to the specific ones that meet your budget expectations. - Call us for a quick quote to confirm/amend the calculator estimates so you are assured that each vehicle does meet your budget. - Getting a Jade pre-approved loan is the true key to negotiating price with a seller. By having your finance already sorted, approved, ready to go, you may be in a better position to get those little extras out of the dealer. To ensure you have that new car under the Christmas tree, get in quick to take advantage of special offers. **For a finance quote on an EOY car offer, contact Jade Car Loans at 1300 000 003 to discuss a quote.** *DISCLAIMER: THIS ARTICLE INCLUDES SPECS, DETAILS, DATA, POLICIES AND MATERIAL WHICH HAS IN THE MOST PART, BEEN SOURCED FROM THIRD PARTY SOURCES. NO LIABILITY IS ACCEPTED FOR ANY MISINTERPRETATION OF THAT MATERIAL OR ERRORS IN PRESENTATION. THE ARTICLE IS PROVIDED AS GENERAL INFORMATION FOR READERS AND IS NOT PROVIDED WITH ANY INTENTION THAT IT BE USED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. IT IS NOT OFFERED AS FINANCIAL ADVICE AND IS NO WAY INTENDED AS SUCH. THOSE THAT REQUIRE ADVICE AROUND THEIR INDIVIDUAL FINANCIAL SITUATION SHOULD SEEK CONSULTATION WITH A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EOY Bonus Time: Employee Car Options](https://www.jadecarloans.com.au/blog/eoy-bonus-time-employee-car-options) **Published:** November 24, 2020 **Author:** Publisher **Content:** Staff rewards and bonuses have received media coverage recently. With large, publicly listed organisations, executive bonuses are quite a contentious issue at any time, let alone at coronavirus time. But for smaller, privately-owned businesses, that level of public scrutiny over how they say thank you to their staff doesn’t exist. Traditionally for many businesses, the end of the year represents bonus time. Employers reward staff with a little or a lot extra in a pay rise, bonus or something special for Christmas. For some that might mean the annual ham for others, it may be way more significant. 2020 is not a normal year. Most businesses have suffered to varying degrees as a result of COVID-19, but they still need to retain and motivate staff for the rebound and recovery. Have you considered rewarding key staff with a new car? What, you’re saying? How can I afford that? With assistance from Jade Car Loans, that’s how. With wage growth low, interest rates at record lows and significant tax incentives on offer for asset acquisitions, including [hire purchase cars](/commercial-hire-purchase "Discover Commercial Hire Purchase Car Options"), the idea may not seem as left-field as you think. We work through some finance options available to provide vehicles for employees. ## The Classic Company Car The ‘company car’ is seen as a great perk for staff and considered by some employees such as reps, as standard to their salary package. The company purchases and owns the vehicle, covering all the expenses while the employee has full use of the vehicle during their employment. When they leave the job, you keep the car to provide for their replacement. The finance scenario is currently quite favourable for this type of vehicle acquisition:- - [Instant Asset Write-Off](/blog/news-instant-asset-write-off-extended "Learn About the Extended Instant Asset Write-Off") and temporary full expensing allow eligible businesses to receive the tax benefit in this current year when purchased under the appropriate finance deal. - If IAWO places the business in a loss position for 2019/20 they may be eligible to claim that loss against earlier year profits under the [loss carry back measures](https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-businesses/Loss-carry-back/ "Exploring the ATO's Loss Carry Back Measures"). - Interest rates are at record lows so Jade can access even [cheaper car finance](/ "Explore Cost-Effective Auto Financing Solutions") deals. - Use of the vehicle for private purposes may be subject to FBT which should be taken into consideration To take cumulative advantage of these measures, Jade Car Loans can offer great Chattel Mortgage vehicle deals, including options tailored for [car loans for sole traders](/car-chattel-mortgage "Discover Car Financing Options for Independent Business Owners"). This finance type allows the business to depreciate the vehicle under IAWO or full expensing measures and claim the full amount of GST on the vehicle at the time of purchase. Check out all the details of Chattel Mortgage on our website or just give us a call for a quick quote. ## Employee-Funded Vehicle An alternative to the business providing a fully-funded car to a staff member is the option of the employee contributing to the purchase of the car. Jade Car Loans can arrange this with a [Novated Car Lease with Salary Sacrificing finance](/novated-car-leasing-and-salary-sacrificing "Explore Novated Car Lease with Salary Sacrifice Financing"). With this type of finance both the employee and employer benefit from the arrangement. Novated Car Leasing with Salary Sacrificing Quick facts:- - The employer and employee agree that the employee will sacrifice part of their salary to go towards the costs of the employer essentially buying a car for them. - The employee selects the car they want so they have the choice of vehicle. - The employee ‘novates’ or transfers the obligation of the lease to their employer. - Your Jade consultant arranges a leasing finance deal with one of our lenders. - The employer covers the costs of the lease payments and ongoing costs of running the car. - The employer receives the usual tax benefits associated with car leasing by way of tax deductible monthly lease payments etc. - The employee contributes pre-tax income to cover the costs which may put them in a lower tax bracket and reduce their income tax obligation. If they were to receive a pay rise in line with the same amount so they could purchase a car privately, that may place them in a higher tax bracket. - [Business car loan rates](/business-car-finance "Check Out Rates for Business Car Loans") are lower than for personal car loans so the employee can effectively achieve a new car at lower interest rates than if they purchased it with a personal loam - At the end of the lease term, when the residual is paid out, the ownership of the car is transferred wholly to the employee. Your Jade consultant can explain all this in greater detail to cover any queries you may have on this type of finance. ## Better Bonuses with Better Car Loans With Jade’s better interest rates, cheap car loans, and even options for a [no doc car loan](/no-docs-car-loans-for-business-vehicles "Explore No Documentation Car Financing Options"), it could be time to ditch the cliché bonuses and rewards and surprise your staff with a new car this Christmas-New Year. The end of the year always represents a rush to get new car deals done before the traditional Christmas-New Year shutdown. Jade can act quickly to sort your motor vehicle finance and we’ll liaise with the dealer to ensure prompt settlement to suit your planning. **To discuss finance options for staff vehicles, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: ALL INFORMATION PROVIDED IN THIS ARTICLE IS INTENDED AS GENERAL INFORMATION PURPOSES AND NOT AS AN EXCLUSIVE OR SOLE SOURCE FOR MAKING FINANCIAL DECISIONS. INDIVIDUALS SHOULD SOURCE INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR IF THEY REQUIRE SPECIFIC DIRECTION IN RELATION TO THEIR CIRCUMSTANCES. CONTENT MATERIAL, DATA, SPECIFICS, PRODUCT FEATURES AND OTHER INFORMATION ARE SOURCED FROM A RANGE OF SOURCES AND NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS OF SUCH DATA.* **Categories:** Uncategorised --- ### [Time to change gears with a new car?](https://www.jadecarloans.com.au/blog/time-to-change-gears-with-a-new-car) **Published:** November 26, 2020 **Author:** Publisher **Content:** If your car is 4, 5, 6 or more years old, it could be time to change it up and get into a new model vehicle. There are many reasons that people put off upgrading their car and against the backdrop of an unprecedented time all around, it’s not unexpected that major purchases are put on the back burner. But some of your reasons may not pass the practicality and logic test. We’ll run a few by you and see if we tick some of your boxes. ## Ongoing Maintenance Costs If you own your car outright, in that you’ve paid out your loan, you may be thinking, ‘Well it’s not costing me much each year’. That’s where you may want to do a rethink. As cars age, key parts require upgrading and replacement in a scheduled or routine timeframe. Even if you don’t use your car a lot and it has low kilometres, certain parts still need attention. Often the less you drive can impact the car’s engine negatively. Some of this type of work is preventative but the risks of not proceeding on the advice of your mechanic or service department can be significant. Even on small cars, the costs of some of these replacements can be upward of $1000. But if not done, can mean the engine could go at any time making the car essentially worthless. So weighing up the costs of future major servicing requirements against the value of the car could be worth considering. You can have a chat with your mechanic to see what might be due for your vehicle in the short to medium term. Then use our car loans calculator to see what the repayments might be on a new car or explore options for [doc car finance](/low-docs-car-loans-for-business-vehicles). You could find that service work would cover a few months of payments on a new vehicle. Keep in mind that most new cars come with extensive ‘free servicing’ and other maintenance offers which may lower costs in the early years of ownership. ## Fuel Costs As cars age, they may become fuel efficient. Add to that thought the massive amount of R&D being done by car makers globally to increase the fuel efficiency of their engines. And add to that the continual increase in fuel costs. You could be paying more than you could at the pump each week. Hybrids and electric vehicles are the way of the future and while [Australia has seemingly been slower on the uptake of EVs](https://www.theguardian.com/environment/2020/nov/22/well-be-left-behind-australias-electric-car-inertia-is-getting-it-nowhere) than other countries, change is happening. Our car loan offers cover all engine types with no differences in loan types or interest rates. ## Safety Aspects Is your vehicle equipped with the latest safety devices and systems? Car makers are installing a raft of advanced systems into new models which not only add to driver comfort but can markedly increase safety in handling and especially around other road users and pedestrians. We’re talking more airbags, reversing cameras, [driver assist packages](https://www.mercedes-benz.com.au/passengercars/mercedes-benz-cars/models/gls/suv-x167/safety.pi.html/mercedes-benz-cars/models/gls/suv-x167/safety/assistancesystems/driving-assistance), fatigue alerts on commercial vehicles and a whole load of other driver alerts and assists. ## The Latest Tech New cars are loaded with new tech! In some cases, it is the lead sell point. While infotainment and connectivity may appear ‘not essential’ in a vehicle, for business operators and many other drivers, these devices can seriously ease the burden on your daily schedule. ## Changing Lifestyle Does your vehicle still meet your work and lifestyle requirements? Our businesses and our private lives are constantly changing and your vehicle may not be delivering the goods anymore. Perhaps you used to commute to work and primarily use your car on weekends. But due to coronavirus issues, you now prefer to drive to work. Perhaps you needed a car to drive to work but now you’re working from home more and could consider downsizing to a more efficient machine. Your business may have changed due to COVID-19 and your vehicles are no longer meeting your needs. Possibly you’ve pivoted to permanent delivery services and you’ve made do till now but moving forward, it’s just not working for you. Perhaps you’ve started a new business and are now confident to invest in taking it up a notch. ## Adapting to New Economic Benefits Are you getting the full benefit of recent taxation changes and measures in your business vehicles? Under the measures announced in the Federal Budget, a new vehicle purchase could deliver significant benefits to your business including a cash refund come tax time. This is of course subject to individual eligibility and your business, but it is possible. Interest rates, especially [commercial car finance rates](/car-finance-interest-rates "Check Out Interest Rates for Commercial Car Finance"), are extremely low at the moment and are set to stay that way. So when you consider ‘all of the above’ in light of the cost of a new car, it could make a lot of sense to upgrade to a new vehicle now. ## Supporting Your Decision Uncertainty can hold people back from making major decisions such as buying a new car. [Jade Car Loans](/ "Visit the Jade Car Loans Website") supports you with several loan tools resources and services to answer questions, queries and doubts about new car purchases. - [Business car loan calculator](/car-finance-calculator "Access a Calculator for Business Car Loans") – Use our calculator to get a rough idea of possible repayments on any vehicle you are considering. It can be used for business and private cars. - Quick quotes – instead of wondering, just give us a call and one of our consultants will give you a quick quote on a car loan. - No obligation enquiries – you have nothing to lose with asking the question. There is no obligation to proceed simply by requesting a loan quote from Jade Car Loans. - Pre-approved finance can be arranged, on a no-obligation-to-proceed basis, so you can know what you can afford and what that car will cost you. Your Jade Car Loans consultant will assist through the entire loan process so getting into that new car should be a streamlined process. **For a finance quote on a new car contact Jade Car Loans 1300 000 003.** *DISCLAIMER: ALL INFORMATION PROVIDED IN THIS ARTICLE IS INTENDED FOR GENERAL INFORMATION PURPOSES AND NOT AS AN EXCLUSIVE OR SOLE SOURCE FOR MAKING FINANCIAL DECISIONS. INDIVIDUALS SHOULD SOURCE INDEPENDENT ADVICE FROM A FINANCIAL ADVISOR IF THEY REQUIRE SPECIFIC DIRECTION IN RELATION TO THEIR CIRCUMSTANCES. CONTENT MATERIAL, DATA, SPECIFICS, PRODUCT FEATURES AND OTHER INFORMATION IS SOURCED FROM A RANGE OF SOURCES AND NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS OF SUCH DATA.* **Categories:** Uncategorised --- ### [No Deposit Car Loans: deal or no big deal?](https://www.jadecarloans.com.au/blog/no-deposit-car-loans-deal-or-no-big-deal) **Published:** December 2, 2020 **Author:** Publisher **Content:** The car sales and motor vehicle lending sectors are both big and highly competitive. Businesses want your business and they spend a lot on advertising to attract buyers to their products. Most car dealers and vehicle manufacturers have an arrangement with a finance company so they can offer both cars and loans to buy them. *(We refer to this as ‘dealer finance’ and have addressed it in several articles. Tip: Ask Jade for a quote before committing)* One of the popular headlines used in motor vehicle advertising is [NO DEPOSIT CAR FINANCE](/no-deposit-car-finance "Explore Zero Down Payment Auto Financing"). Mmm, that sounds great. You can buy a car without having to dip into your cash reserves if you have any. For businesses, it represents the opportunity to retain their cash flow and receive the full taxation benefits on the full purchase price via the finance deal. To many, this may appear a big deal. Is it a special deal or is it no biggie? [Jade Car Loans](/ "Visit the Jade Car Financing Website") is a significant operator in the motor vehicle lending sector and for us, the answer is – it depends. We avoid using fully encompassing wording as all car finance applications are treated on an individual basis. But in general, we can achieve no deposit finance for the majority of our customers. Let’s dig deeper so you have a full understanding of what you may or may not be receiving. ## Deposit v Deposit: Definition By definition, no deposit finance means being able to get a personal car loan or [business car loan](https://www.jadecarloans.com.au/business-car-finance.php "Explore Financing Solutions for Commercial Vehicles") for 100% of the purchase price of the vehicle. The differentiation, however, between a deposit to the seller and a deposit to the lender needs to be established It is quite normal practice for a seller to request a deposit from the buyer when the decision is made to purchase a vehicle. If you’re at a dealership, new or used cars, the salesperson very often will ask you to pay a holding deposit so they can take that car off their books and give you time to arrange your finances. In the case of new cars, the dealers have to prepare the car with a pre-delivery process. In these instances, that deposit can returned to the buyer if the finance company covers 100% of the purchase price in your car loan. Lenders, on the other hand, don’t request borrowers to pay them a deposit as such. With business vehicle finance and some personal car loans, the first loan repayment is required to be paid at the commencement of the contract, essentially upfront. But there are exceptions and every application is assessed individually. ## Personal Car Loans - [Secured Car Loans](/secured-car-loans "Discover Secure Auto Financing Options") on new cars can very often cover 100% of the purchase price of the vehicle for borrowers with a good quality application. - If you have a trade-in, this would automatically reduce the amount of the loan to less than 100% of the purchase price of the car and represent a deposit. - Where individual lenders assess the application at a higher risk they may request the total loan amount be reduced by the borrower paying a deposit to the seller. - With Unsecured Personal Loans for the purchase of motor vehicles, it can be expected that the lender would be unlikely to offer a 100% purchase price loan. - Used cars are assessed based on price to value ratio and it would not be unusual for our lenders to ask for a deposit to reduce the loan from 100% of the purchase price. - If you are offered a no deposit car loan by say a dealer, we advise studying the fine print to ensure there are no higher fees or charges or it has been priced at a higher interest rate to cover the lender for any risk issues. You can always request a quick quote from Jade! Jade Car Loans is accredited with multiple banks and lenders so when we source your loan, we cover a lot of ground to ensure we’ve achieved the best and cheapest interest rate car loan available, especially when it comes to [business car loan interest rates](/car-finance-interest-rates "Check Out Interest Rates for Commercial Auto Loans"). ## Business Vehicle Finance - Most standard, fully documented business vehicle finance contracts arranged through Jade Car Loans will be for 100% of the purchase price of the vehicle. This would be concerning Chattel Mortgage, Car Leases and [Car Hire Purchase](/commercial-hire-purchase "Examining Commercial Vehicle Hire Purchase Options"). - This allows the business to realise the taxation benefits of either the fully deductible lease payments or the depreciation of the vehicle, on the full vehicle loan contract. - With Low Docs and [No Doc Car Loans](/no-docs-car-loans-for-business-vehicles "Discover Car Financing with Minimal Documentation"), it could be expected that individual lenders may request the borrower reduce the total loan from 100% of the purchase price of the motor vehicle. This would involve paying a deposit as such to the seller or dealer. If you have a vehicle to trade in, this would reduce the loan amount to less than 100% of the purchase price which may satisfy the lender’s request. - Businesses also have the option of the residual or balloon element to reduce their monthly repayments. ## Securing a No Deposit Car Loan Jade Car Loans consultants work to achieve car finance deals, including [sole trader car finance](/car-chattel-mortgage "Explore Car Financing Options for Independent Business Owners"), that best suit our customer’s requirements. If your preference is for a 100% purchase price loan, then that is what we will seek to achieve for you. At Jade, no deposit finance is not a big deal, it is fairly much standard procedure. Take-out: When you’re attracted to what sounds like great offers and special deals in finance, look closely at the fine print and always give Jade Car Loans a call for a quick quote to compare. **To discuss finance options for your new car, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE INFORMATION WHICH HAS BEEN PREPARED AND PRESENTED IN THIS ARTICLE IS INTENDED FOR GENERAL INFORMATIVE PURPOSES ONLY. IT IS NOT IN ANY WAY MEANT TO BE USED AS THE ONLY SOURCE OF INFORMATION OR ADVICE IN REGARD TO FINANCIAL DECISIONS. IF YOU CONSIDER YOU NEED GUIDANCE, WE RECOMMEND YOU SEEK OUT A PROFESSIONAL FINANCIAL ADVISOR. THE DATA, DETAILS, SPECS AND OTHER MATERIAL PRESENTED ARE SOURCED FROM VARIOUS SOURCES AND NO LIABILITY IS ACCEPTED FOR ERRORS AND MISINTERPRETATIONS IN PRESENTING THIS INFORMATION.* **Categories:** Uncategorised --- ### [Delivering the Goods by LDV](https://www.jadecarloans.com.au/blog/delivering-the-goods-by-ldv) **Published:** December 5, 2020 **Author:** Publisher **Content:** Changes in consumer buying habits due to coronavirus, have increased the need for businesses to have their delivery vehicles. While previously it may have been seen to be a luxury to have your van deliver orders to your customers, with the increase in online shopping and demand for home deliveries, a delivery vehicle is becoming an essential resource for many businesses. While several manufacturers tend to dominate the delivery van market, savvy operators will be looking more broadly across what’s on offer. One that [Jade Car Loans](/ "Visit Jade Car Financing Solutions") has noticed receiving some attention is the LDV range of delivery vans. No, [LDV](https://www.ldvautomotive.com.au/ "Explore LDV's Automotive Offerings") is not an acronym from contemporary communication, it’s a motor vehicle manufacturer. They haven’t had a presence in Australia for very long, but are the biggest automaker in China, have been around since the 1940s but can trace their history to the 1890s and are currently part of the massive [Shanghai Automotive Corporation, SAIC](https://www.saicmotor.com/english/index.shtml "Visit the Official SAIC - Shanghai Automotive Corporation Website"). They’ve made products via joint ventures with General Motors and Volkswagen and are linked with the British Motor Corporation, so they’re pretty big in the world of car making. The interest in investing in delivery vehicles has also been driven by the Federal Government investment measures, especially [Instant Asset Write-Out](/blog/news-instant-asset-write-off-extended "Read About the Extended Instant Asset Write-Off"). Jade Car Loans offers commercial finance facilities for delivery vehicles from all leading manufacturers, with Chattel Mortgage being the most suitable for those looking to realise the benefits of IAWO. ## LDV Delivery Van Range For those in the market for a delivery van, an LDV could be the vehicle to suit your business. LDV has 3 specific delivery vans in their range – Delivery 9, [G10](https://www.ldvautomotive.com.au/vehicles/ldv-g10-van/ "Explore the LDV G10 Van") and the [V80](https://www.ldvautomotive.com.au/vehicles/ldv-v80-van/ "Discover the LDV V80 Van"). But it’s the Delivery 9 we’re keen to showcase as it’s been receiving good media coverage as value for money contender against the leaders in the class. This is a classic yet versatile van, with variants, specs and features which will suit a lot of different business setups. ## Delivery 9 Specs and Features The [LDV Delivery 9](https://www.ldvautomotive.com.au/vehicles/ldv-deliver-9-large-van/ "Explore the LDV Deliver 9 Large Van") is available in 3 variants:- - MWB (medium wheel base) with 9.6 cubic metre load volume and a payload of 1500 kg - LWB/MR (long wheelbase, mid roof) which increases your load volume to 10.97 cubic metres and the payload up to 1640 kg on the auto and even more, 1670 kg, for the manual version. - LWB/HR (long wheelbase, high roof) with a very large 12.33 cubic metre load and 1620/1240 kg payload for auto/manual Inside the generous load area are 8 tie-down rings, a grab handle and LED lighting. Despite the value for money proposition, safety has taken priority with 6 airbags in the front row, Autonomous Emergency Braking, [Bosch Electronic Stability Programme](https://www.bosch-mobility-solutions.com/en/solutions/driving-safety/electronic-stability-program/ "Learn More About the Bosch Electronic Stability Programme"), Hill Hold, rearing parking sensors, reversing camera and Lane Departure Warning. Power is delivered from a 2 litre diesel engine with Euro V rating. The cabin is equipped with plenty of comfort features including an air con, a 4.2” instrument cluster and connectivity options. From a value point of view, 3 year capped price servicing should assist with your cash flow planning and at an advertised price from $39,990 to around mid-high $40,000s, it appears to present a package worth considering. To see how a low [business car loan interest rates](/car-finance-interest-rates "Understanding Interest Rates for Commercial Auto Loans") might pan out for that price range, head to our repayment calculator page and input the values around the loan deal you would like to achieve. ## Securing an LDV Delivery 9 LDV dealers are located throughout Australia, but before you head in for a test drive, why not speak with Jade Car Loans first about pre-approved finance? Pre-approved finance is a smart way to go when it comes to buying new vehicles as you know ahead of time that your finance is approved and that may give you the edge in squeezing a better deal. A quick sale is an attractive prospect to sellers! Jade Car Loans offers the full range of motor vehicle finance for LDV Delivery 9 models:- - [ABN holder car finance](/abn-car-loan "Discover Car Financing for ABN Holders") - [no doc car finance](/no-docs-car-loans-for-business-vehicles "Explore Low Documentation Car Financing") - [Car Hire Purchase](/commercial-hire-purchase "Learn About Commercial Vehicle Hire Purchase") Your Jade consultant will source your finance from our vast selection of banks and lenders to ensure we present you with the cheapest loan option and a loan that suits your requirements, works with your cash flow and is structured to achieve your target ROI. All Jade motor vehicle finance deals are based on our better interest rates policy. It’s our trademark, it’s what drives us to work harder – it’s in our DNA to achieve cheaper interest rates for our customers. To see how we compare with many leading lenders, head to our car loan comparison table, and input the amount of the loan you anticipate and the terms, to see for yourself what we can achieve. Or just give us a call and let’s get on with sorting you with a great finance deal on a new LDV delivery van. Our fast approvals and prompt settlement service will work to have you deliver the goods in your new van ASAP. **For a finance quote on an LDV Delivery 9 contact Jade Car Loans at 1300 000 003.** DISCLAIMER: THE INFORMATION WHICH HAS BEEN PREPARED AND PRESENTED IN THIS ARTICLE IS INTENDED FOR GENERAL INFORMATIVE PURPOSES ONLY. IT IS NOT IN ANY WAY MEANT TO BE USED AS THE ONLY SOURCE OF INFORMATION OR ADVICE IN REGARD TO FINANCIAL DECISIONS. IF YOU CONSIDER YOU NEED GUIDANCE, WE RECOMMEND YOU SEEK OUT A PROFESSIONAL FINANCIAL ADVISOR. THE DATA, DETAILS, SPECS AND OTHER MATERIAL PRESENTED ARE *SOURCED FROM VARIOUS SOURCES AND NO LIABILITY IS ACCEPTED FOR ERRORS AND MISINTERPRETATIONS IN PRESENTING THIS INFORMATION.* **Categories:** Uncategorised --- ### [What is selling a car under finance?](https://www.jadecarloans.com.au/blog/what-is-selling-a-car-under-finance) **Published:** December 8, 2020 **Author:** Publisher **Content:** When people take out a personal car loan or business vehicle finance the loan term is, in most cases, fixed at a set number of months/years. When establishing car loans for our clients, we negotiate the loan terms as best as possible to meet their requirements. All [Jade Car Loans](/ "Visit Jade's Auto Financing Solutions") have fixed loan terms. However, people can often change their minds regarding how long they want to drive that particular vehicle. While many do keep the car for the full term of the loan, some may choose to upgrade or changeover to a new car before the end of the loan term. The vehicle may no longer meet the demands of their business, lifestyle or family or they may just aspire to a better, newer model. When that occurs, the car owner may either [sell the car privately](https://www.qld.gov.au/transport/buying/rules/selling "Learn How to Privately Sell Your Vehicle") or trade it in with the dealer on the new car. When you sell a car while money is still owed on the car loan it is known as ‘selling a car under finance’. The car is subject to a [personal car loan](/personal-car-finance "Explore Financing Options for Your Own Vehicle") or business vehicle finance contract. This may also be referred to as ‘encumbered’. We explain what happens when you decide to sell or trade a car under finance. ## Ownership of the Loan The first thing to realise is that the car loan is attached to the borrower, not the car. If you have a personal loan, you are responsible for that loan. If purchased through a [business entity](https://www.smallbusiness.wa.gov.au/starting-and-growing/business-structures "Learn About Different Business Structures"), the business and/or possibly the business owners/directors are liable for the finance contract. When you sell or trade a car, the loan is not sold on to the buyer. The loan must be finalised by you in some way. The buyer doesn’t simply take on your loan obligations when they purchase your car. Essentially you are in the position of finalising a loan before the end of the loan term. There are several ways that this situation can play out which we will cover for you. ## REVS/PPSR Checks When buying a second hand car, buyers are strongly recommended to do what is known as a [PPSR Check](https://www.ppsr.gov.au/ "Perform a PPSR Search Here") on the vehicle. PPSR used to be known as a REVS check. It is a service provided by several providers where you enter the vehicle registration number into a system and you receive a report which includes details about the registered owner of the car and if the car is under finance. More detailed vehicle history reports can also be obtained which detail if the car is reported stolen and other important information. If you are organising your low interest car finance through Jade Car Loans, your consultant will handle this for you. Astute buyers, if not all buyers, of used cars, should obtain a PPSR before committing to a purchase. ## Personal Secured Car Loans If you have a Secured Car Loan, perhaps a [low doc car loan](/no-docs-car-loans-for-business-vehicles "Explore Car Financing with Minimal Documentation"), and want to trade/sell the car for a new one before the end of the loan term, you will be required to finalise the outstanding amount on your loan. Break fees apply to loans that are finalised before the end of the loan term. You will need to contact your lender and ask for a ‘payout’ figure. That will be the total owed on the loan on that particular day – the outstanding monthly repayments which include interest to that point and any break fees. As interest is calculated usually daily, the payout figure will change over the ensuing days/weeks until the loan is finalised. The lender will advise how you are to make the payment. ## Business Vehicle Finance Business finance products have the option of a balloon or residual. The payout figure on [business car loan](/business-car-finance "Discover Financing Solutions for Commercial Vehicles") contracts will include what is outstanding in repayments, the balloon/residual and any break fees that may be included in the contract. The lender usually advises for how long that payout figure is valid after which time you will need to check in with them for an updated amount. The lender will advise how you are to make the payment. ## Trade-in Process When you’re [trading in a car](https://canstar.com.au/car-loans/trade-in-value-car/ "Explore the Process of Vehicle Trade-Ins") through a dealer for a new one and you are having your new car financed, paying out any monies on the old car can be handled in several ways, depending on the situation. Options may include:- - The dealer makes you a trade-in offer, you can accept that in cash and you pay the loan to the lender. - The dealer pays part of the trade-in cash directly to the lender to pay out the loan and then gives you the remainder or deducts it from the price of the new car. - The lender or your Jade Car Loans consultant, can handle paying out the old loan when setting up your new car finance dealer. This would all be sorted through the dealer’s invoice to the lender. ## Private Selling If you’re [selling your car privately while under finance](https://www.carsguide.com.au/car-advice/selling-a-car-under-finance-33714 "Tips for Selling Your Financed Car Privately"), the buyer will usually require you to pay out the loan before they finalise the purchase. If you need the sale monies to finalise the loan, you should be able to make arrangements with the lender for the buyer to pay the money directly on your behalf. ## Utilising Your Jade Consultant It may all sound a bit complicated and a bit ‘depends’, but the process of selling a car under finance is quite streamlined. It happens all the time. If you’re arranging your new [no doc car loan](/no-docs-car-loans-for-business-vehicles "Explore Low Documentation Car Financing Options") or other finance through Jade Car Loans, then it’s not a problem. Your consultant can advise how the process will work, obtain your payout figures, organise both your new cheap car loan, and finalise the previous commitment. **To discuss finance options for a new car and how to finalise the finance on your trade-in, just contact Jade Car Loans 1300 000 003** DISCLAIMER: READERS ARE ADVISED THAT THIS INFORMATION AS PRESENTED IN THIS ARTICLE IS INTENDED FOR GENERAL INFORMATION PURPOSES AND NOT AS FINANCIAL ADVICE. PEOPLE NEEDING FINANCIAL ADVICE ARE RECOMMENDED TO CONSULT WITH A FINANCIAL ADVISOR TO ASSIST IN REGARD TO THEIR INDIVIDUAL CIRCUMSTANCES. INFORMATION AND CONTENT IN THIS ARTICLE MAY HAVE BEEN SOURCED FROM A RANGE OF PUBLICATIONS AND INFORMATION RESOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS, OR *MISINTERPRETATION OF OTHER ISSUES AROUND THE PRESENTATION.* **Categories:** Uncategorised --- ### [Runaway with cheap car finance on run-out models](https://www.jadecarloans.com.au/blog/runaway-with-cheap-car-finance-on-run-out-models) **Published:** December 11, 2020 **Author:** Publisher **Content:** The new car market loves a sale. This is a highly competitive sector with the Australian motor vehicle market packed with choices for buyers. Both manufacturers and dealers are keen to get their slice of the action. So much so that it may seem that at any time in the annual calendar, you can find some type of sale across one or multiple brands. The run-out sale or clearance is just one of many types of sale events that are offered across the new vehicle sector. At Jade Car Loans we prepare for quite a run on our [cheap car loans](/ "Discover Affordable Auto Financing Solutions") during sale events as our customers seek to improve their new car deals even more with our cheap finance. To assist you, here are a few tips and hints on understanding car sales and getting the best deals on the purchase and your finances. ## Motor Vehicle Sales Events Sales events are held in both the new and used car areas but tend to be more prominent in the new vehicle sector so we’re concentrating on new cars in this article. - Model clearance – dealers and manufacturers clearing existing stock before new versions of a particular model arrive or when it is the end of that particular model. Consider the features of the newer model against those on the discounted, clearance model to ensure you will be happy with your purchase. - Plate clearance – discounted prices on vehicles from an earlier year. Check what differences will be on the new stock to ensure you don’t miss out on a feature you would have liked, even at a higher price. - Demo sale – Demonstrator vehicles are cars that are kept in the showroom for customer inspections and test drives. At a certain point, the dealer will decide to sell the demos and they can represent great value as they have usually only clocked up a few kilometres and can include many accessories and options. - End of year sales – retailers and sellers across many industries run EOY sales. In the car industry, it may just be a promotional event and not in necessarily attached to the imminent arrival of a new model. - EOFY – end of financial year sales are primarily offered to attract business buyers wanting to realise tax deductions on new vehicle purchases before the end of the financial year. - Special offers – manufacturers and dealers offer individual offers at various times of the year. These often include free upgrades to better optioned vehicles, free rego and CTP. Check into these closely to ensure that any freebies or free extras are items you want. - Run-out sales – these can signal the end of a particular vehicle or model being available in Australia, simply another name for a model clearance or can mean the exit of the manufacturer from the local market. There are aspects to consider regarding run-outs which we have detailed below. Jade Car Loans offers our signature cheap finance deals on both full-priced and discounted new cars for both personal and business buyers. ## What’s running out? When considering a ‘run-out’ deal, it’s worth considering what is running out and what impact the situation may have over the life of the vehicle. - End of the road for that model. The classic ‘end’ story in Australian automotive history is that of the [Leyland P76](https://www.whichcar.com.au/features/leyland-p76-history "Explore the History of the Leyland P76"). It just didn’t achieve success and was viewed by many as a ‘lemon’ and was discontinued by the manufacturer. When a vehicle just doesn’t gel with the local market, a manufacturer may decide to withdraw it from sale. Currently, Mercedes-Benz is offering run out deals on its [X-Class V6 ute](https://www.mercedes-benz.com.au/vans/en/x-class "Discover the Mercedes-Benz X-Class V6 Ute") with the company ending production of the vehicle after only 3 years after launching. With such a huge ute market in Australia with many such as Toyota, Mazda and Mitsubishi dominating the scene it can be a challenge for a new player to get their share. - When the manufacturer exits the market. In another form of run-out, such as with Holden in Australia, the manufacturer may leave a local market completely. In some cases, they may still offer imported vehicles or the badge may disappear completely. In some instances such as Holden, there can be a rush to purchase the last of any iconic vehicles with the hope they may end up as highly prized collectibles. - Models leave the scene regularly. Some are renewed or reconfigured and launched under a different name, others are completely superseded. Some manufacturers leave a car category completely as we are seeing with the light hatch in favour of smaller/compact SUVs. - With the move to electric vehicles and hybrids, petrol powered vehicles are being phased out by some manufacturers. When considering the purchase of a run-out, look into the availability of parts and servicing over the anticipated life of the vehicle and beyond. You will want to be confident that you can have your car properly maintained and that it will present good resale value when you choose to upgrade. ## Finance and Insurance Impacts Buying a car at most sale events should have no impact on the finance deal you can secure through Jade. The cheaper price you’re paying for the car along with our cheap [commercial car finance rates](/car-finance-interest-rates "Check Out Rates for Business Vehicle Financing"), represents even lower monthly repayments. Our interest rate offers and application requirements apply to both full priced and discounted new vehicles for both private and business buyers. If you’re considering a [new business car loan](/new-car-finance "Explore Financing for Your New Business Vehicle") and buying a run-out vehicle, there may be an impact on the insurance. Costs of repairs are considered when insurers quote premiums. If parts and servicing are not going to be as widely available as previously, this may, and we stress, impact the cost of insurance. If the manufacturer is not represented by authorised service centres, you would need to source a reputable and reliable mechanic who can access generic parts to suit the vehicle. ## Pre-Approved Car Loans When planning to take advantage of a motor vehicle sales event, arranging a pre-approved [secured car loan](/secured-car-loans "Discover Secure Auto Financing Options") through Jade beforehand, can be a very smart move. Some models may have limited quantity available and could be offered on a ‘first-in’ basis. Having your finances sorted can mean you are first in line for the best deals. Jade Car Loans offers pre-approved finance on both personal vehicle finance and [business car loans](/business-car-finance "Examining Financing Solutions for Commercial Vehicles"). **To take full advantage of motor vehicle sales events, contact Jade Car Loans at 1300 000 003 to discuss pre-approved finance.** DISCLAIMER: READERS ARE ADVISED THAT THIS INFORMATION AS PRESENTED IN THIS ARTICLE IS INTENDED FOR GENERAL INFORMATION PURPOSES AND NOT AS FINANCIAL ADVICE. PEOPLE NEEDING FINANCIAL ADVICE ARE RECOMMENDED TO CONSULT WITH A FINANCIAL ADVISOR TO ASSIST IN REGARD TO THEIR INDIVIDUAL CIRCUMSTANCES. INFORMATION AND CONTENT IN THIS ARTICLE MAY HAVE BEEN SOURCED FROM A RANGE OF PUBLICATIONS AND INFORMATION RESOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS, OR *MISINTERPRETATION OF OTHER ISSUES AROUND THE PRESENTATION.* **Categories:** Uncategorised --- ### [Preparing for EOY Sales and Pre-Orders](https://www.jadecarloans.com.au/blog/preparing-for-eoy-sales-and-pre-orders) **Published:** December 15, 2020 **Author:** Publisher **Content:** As any year comes to a close there are the traditional end of year sales. While the retail sector is most traditionally associated with EOY sales which commence with much fanfare on Boxing Day, many other sectors get in on the action. That includes the motor vehicle sector. By November, advertising for plate clearances (a sale of this year’s models) was already underway. After the crazy times of 2020, many dealers are going to be keen to make up for lost sales from earlier in the year, especially end of the financial year when much of the country was in COVID-19 lockdown. The other event that end of year signals is the teasers for new models coming next year. We’re already seeing ads for 2021 models so it’s time for action! Car sales can present buyers with some great value pricing on current vehicles. To sweeten the deal, interest rates are low and [Jade Car Loans](/) is well-placed to source cheap car loan offers on both private and business purchases. Business buyers who haven’t had the chance to get around to upgrading their vehicles will also be keen to make the most of the [Instant Asset Write-off](/blog/news-instant-asset-write-off-extended). Sale time can be a great time but stocks may be limited so buyers should be well-prepared to ensure they don’t miss out. ## Preparing for the Sale The key to being in a position to snap up a bargain is having your finances sorted. If you head into a dealership, go through the look-over and test drive routine and then leave to arrange your finances, you may find by the time you’re sorted, that particular vehicle is sold out. Jade Car Loans assists buyers with several tools and resources so you’re well-equipped to commit to the purchase on the spot. - While browsing the ads and listings online, have our [commercial vehicle finance calculator ](/car-finance-calculator "Access a Calculator for Business Auto Loans")open so you can quickly calculate repayment estimates on the advertised prices. While this is only an estimate and the repayments you’re offered may vary, it’s a great way to find out if that particular vehicle is within your monthly budget expectations. - If you have a trade-in, think about whether to use the value of the trade to reduce the loan amount or have it returned to you and include 100% of the purchase price in the finance. If using it as a deposit, then don’t forget to reduce that from the loan amount in the calculator. - If your trade-in is still under finance with a loan, then it’s time to call your lender for a payout figure as that loan will need to be finalised before you can trade the car. - With all that done, use the calculator and if the repayments are calculated to suit you, give us a quick call on 1300 000 003 for a quick quote. - If the quote suits you, then it’s time to move to the loan application phase for pre-approved finance. - Business buyers will need to decide which of our [commercial car finance](/business-car-finance "Discover Financing Options for Commercial Vehicles") products they want for their finance deal. We offer the full portfolio including Chattel Mortgage, Leasing and [Commercial Hire Purchase Car](/commercial-hire-purchase "Explore Commercial Vehicle Hire Purchase Options"). Ensure you have a conversation with your accountant about which will deliver the best tax benefits to your business before the accountant heads off on holiday! - Once you have decided on the finance type, your Jade consultant will assist with structuring the finance deal about finance terms and the amount of balloon/residual to include to arrive at a repayment level that works with your cash flow. - For private buyers, our [Secured vehicle financing](/secured-car-loans "Discover Secure Auto Loan Solutions") is the most commonly used form of car loan. The major decision to be made is whether or not you will choose to pay a deposit or request 100% of the purchase price in your loan. Your Jade consultant will work with you on sourcing a loan term that results in a repayment level to suit your budget. ## Pre-Approved Loans Jade Car Loans offers pre-approved loans for both private and business buyers and this is the way to go both at sale time and in fact, for most car purchases. You make your application for your car finance before you’ve committed to the purchase. So how does that work? Well, your Jade consultant will have you complete the relevant application procedures then they will source you a quote and approval. The application will be based on a price estimate of what you think you’re probably going to pay for your new car. That’s not difficult as most people have a general idea of their price bracket. So you end up with approval for that amount of money and can proceed to commit to your car. Having a pre-approved loan at sale time allows you to commit to purchase on the spot and avoid the risk of missing out when stocks or the sale prices are for a limited time. ## Pre-Ordering 2021 Models The end of the year or early in the new year is also a good time to pre-order 2021 models. We’ve noticed recent advertisements for pre-order on the [2021 Hyundai Palisade](https://www.hyundai.com/au/en/cars/suvs/palisade). An SUV could work well as that essential cross over between work and play. Pre-ordering may not entail a full commitment to purchase so you may not need to have your finance pre-approved. Pre-approved finance is also usually only valid for a short period – possibly not long enough to wait for your new model to arrive. However, you can still go through a pre-approval process with your Jade consultant to ensure that your application and [credit profile](https://www.equifax.com.au/sites/default/files/EFX_credit-profile-infographic.pdf) will meet the lender requirements for the amount you intend to borrow on the new vehicle. So it’s never too early to start a conversation with a Jade Car Loans consultant about [commercial car finance](/business-car-finance) for your new car. Whether you’re preparing for a sale event or want to be first in line for pre-ordering, we can assist with the all-important pre-planning and pre-approval for your finances. **To discuss pre-approved finance for a sales event or to pre-order simply contact Jade Car Loans at 1300 000 003** *DISCLAIMER: YOU ARE ADVISED THAT THE INFORMATION PRESENTED HERE IN THIS BLOG, IS FOR GENERAL INFORMATION AND NOT INTENDED TO REPRESENT FINANCIAL ADVICE IN ANY WAY. IF YOU CONSIDER THAT YOU DO REQUIRE ADVICE IN REGARD TO YOUR FINANCIAL SITUATION, THEN WE RECOMMEND THAT YOU SEEK A CONSULTATION WITH A PROFESSIONAL FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO THE DETAILS OR ANY ERRORS IN THE CONTENT WHICH MAY IN PART HAVE BEEN SOURCED FROM A RANGE OF SOURCES.* **Categories:** Uncategorised --- ### [Cheap Finance for Perennial Favourite: Ford Transit Van](https://www.jadecarloans.com.au/blog/cheap-finance-for-perennial-favourite-ford-transit-van) **Published:** December 18, 2020 **Author:** Publisher **Content:** With the crisis phase of the coronavirus pandemic hopefully past, many businesses are realising that some of the business practices they implemented to deal with the ‘COVID-19 consumer’ look set to become permanent changes to their business model. One particular and very popular pivot was providing delivery services to meet the surge in demand for online orders. With in-person buying not possible, buyers across many industries turned to online shopping and in some sectors, they don’t look like turning back. Buying habits for many customers have changed and business needs to adapt. If you can relate to that scenario, now could be the time to commit to an investment in your own delivery vehicle. And what better model to consider than the long-time favourite – the Ford Transit Van. The timing to buy now is spot on with interest rates exceptionally low which enables [Jade Car Loans](/ "Visit Jade's Auto Financing Solutions") to offer even better cheap finance. Plus you have the prospect of realising accelerated asset depreciation with Instant Asset Write-Off to consider. ## The Transit’s Long Reign in the Popularity Charts Synonymous with delivery services, the Ford Transit Van is a classic vehicle that has remained popular with business operators over a very long time. It suits many operations due to its versatility, wheelbase options and roof height options. While ideal for deliveries, the Transit Van can be customised with an interior set-up to suit service technicians and trades requirements. While a range of bodies are available including cab chassis and bus, in the van body the models include:- - Transit Van: long wheelbase, mid and high roof options, turbo diesel engine. - Transit Custom Sport: low and high roof options, short and long wheelbase options, turbo diesel engine. - [Transit Custom](https://www.ford.com.au/commercial/transit/custom/ "Explore the Ford Transit Custom"): low and high roof options, short and long wheelbase options, turbo diesel engine. The Ford Transit is packed with technology and safety features include Blind Spot Information System, rear parking sensors, lane keeping aid and autonomous emergency braking with pedestrian detection. The 2 litre diesel which is the same across the range is the EcoBlue for better efficiency and performance. With generous loading capacity, large opening rear and side door options, the Ford Transit Van presents a worthy contender as the delivery vehicle for a large range of businesses across many industries. Florists, retailers, food deliveries, fresh produce, market stall operators, furniture stores, couriers, general delivery services – many businesses which are pivoting to delivering direct to their customers, might suit a Transit. While the white delivery van is the classic, Ford apparently provide a range of colours so you can match your Transit to your company colours. ## Finance Options for a Transit Jade is also a perennial favourite lender with motor vehicle buyers due to our[ cheap business vehicle finance](/business-car-finance "Discover Affordable Financing for Business Vehicles") deals. Just as the Transit Van suits a wide range of businesses, Jade also offers a range of finance products and services to suit all types of business. We work with sole traders, owner operators, SMEs, family enterprises, partnerships and large corporates to secure the cheapest commercial van loan deals with the lowest interest rates. Jade Car Loans provides customers with a choice of finance product so you can choose which will deliver the best outcomes for your business:- - [Car finance for sole traders](/car-chattel-mortgage "Understand Auto Financing Options for Independent Business Owners") - [Hire Purchase Car](/commercial-hire-purchase "Learn About Commercial Vehicle Hire Purchase") - [Car finance for ABN holders](/abn-car-loan "Discover Auto Financing Options for ABN Holders") ## Which is the best finance option for your business? We recommend that businesses have that discussion with their accountant, then your Jade consultant can source you the cheapest quote for that finance product, from across our large lending panel. If you’re considering utilising IAWO, then Chattel Mortgage is best suited for that purpose. While you can choose the finance there are several aspects of our finance which are standard across the range:- - Jade’s cheap[ business vehicle finance calculator](/car-finance-interest-rates "Access a Calculator for Business Vehicle Financing"), fixed for the loan term - Fixed loan term - Fixed monthly repayments ## Don’t have all the documents requested by the bank? If you’re starting out in a new business, possibly as a result of a coronavirus-caused job change or business shift, you may not have all the documents requested by the banks to meet their loan requirements. Don’t worry, Jade Car Loans is accredited with many non-bank lenders that can be more flexible in that regard. Jade Car Loans offers specialised services for [Low Docs vehicle Loans](/low-docs-car-loans-for-business-vehicles "Investigate Car Financing with Minimal Documentation") for operators that do not have all the documentation. Your Jade consultant will discuss your requirements and proceed to source options for you from our non-bank lenders. While the interest rate on Low Docs Car Loans can be expected to be higher than for fully documented finance, your Jade consultant will be negotiating hard on your behalf to secure you a cost-effective solution. So if a Ford Transit Van looks like suiting your business delivery requirements, size up a Jade Car Loans to purchase your van. Use our business car finance calculator for loan estimates or just give us a call and start the process. **For a finance quote on a Ford Transit Van contact Jade Car Loans at 1300 000 003** *DISCLAIMER: YOU ARE ADVISED THAT THE INFORMATION PRESENTED HERE IN THIS BLOG, IS FOR GENERAL INFORMATION AND NOT INTENDED TO REPRESENT FINANCIAL ADVICE IN ANY WAY. IF YOU CONSIDER THAT YOU DO REQUIRE ADVICE IN REGARD TO YOUR FINANCIAL SITUATION, THEN WE RECOMMEND THAT YOU SEEK A CONSULTATION WITH A PROFESSIONAL FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO THE DETAILS OR ANY ERRORS IN THE CONTENT WHICH MAY IN PART HAVE BEEN SOURCED FROM A RANGE OF SOURCES.* **Categories:** Uncategorised --- ### [Renewals, Recalls, Repayments: Reminder Time](https://www.jadecarloans.com.au/blog/renewals-recalls-repayments-reminder-time) **Published:** December 22, 2020 **Author:** Publisher **Content:** Several articles in the mainstream and motor vehicle media have sparked us to publish this article to ensure all Jade Car Loans customers are informed and reminded of their obligations. In particular [a news report from NSW of the large number of drivers being fined](https://www.smh.com.au/national/nsw/scrapping-car-rego-stickers-helps-nsw-rake-in-millions-in-revenue-20200729-p55gj1.html "Read the NSW Report on Increased Driver Fines") for driving unregistered vehicles and reports around vehicle recalls. How do these issues affect your car loan and motor vehicle finance? We provide this explainer so you’re across your responsibilities as a motor vehicle owner and/or driver. ## Renewing Vehicle Registration This article does particularly focus on NSW as that is the news story we read that sparked this story but you can be fairly sure that similar scenarios are playing out across Australia. That is, people forget or completely ignore their car registration renewal. The news media reported that thousands of drivers have been on the receiving end of hefty fines from the [NSW Police](https://www.police.nsw.gov.au/ "Visit the Official NSW Police Website") for driving unregistered vehicles. With the high tech cameras used by police and road authorities to monitor traffic and check speed, seat belts and mobile phone usage, it’s easier than ever for authorities to identify unregistered vehicles on our roads. Here are a few points we’ve collated so you appreciate the severity of not renewing your rego and what you can and can’t do if you are car is unregistered. - Driving an unregistered vehicle attracts financial penalties and in some states, you can lose points from your driver’s licence. In NSW the infringement is $697 for light vehicles such as cars and a whopping $1497 for driving an unregistered heavy vehicle with GVM over 4.5 tonnes. - If you’ve overlooked renewing your rego you’ve probably also overlooked renewing your CTP – Comprehensive Third Party Insurance. That means your car is not covered in the event of an accident where you injure someone else. - If your car is under finance, you have a car loan or [commercial car finance](/business-car-finance "Explore Financing Solutions for Business Vehicles"), you are required to have motor vehicle insurance also. This is a requirement of lenders. If you’ve forgotten to register your car, is your insurance also expired? If you are not meeting the requirements of your car finance contract, there could be repercussions as you could be in default of the finance contract. - Rego, insurance and CTP are often due on or around the same date each year. Some states such as NSW moved to a sticker-less rego several years ago but still send out rego renewal papers. Make sure you keep your current address current with the road authority so you receive your rego papers and put a reminder in your diary, phone or another device. - Some states offer part payments or instalments for both rego and CTP and many insurers offer monthly payment options. - If selling an unregistered vehicle or in that case [buying an unregistered vehicle](https://www.rms.nsw.gov.au/roads/vehicle-registration/basics/buying-and-registration.html "Learn About Purchasing an Unregistered Vehicle"), there are requirements such as providing the buyer with proof of entitlement to register the vehicle. Check your state for local requirements. When taking out [cheap car finance with Jade Car Loans](/ "Affordable Auto Financing with Jade Car Loans") or any other lender, you are entering into a legal contract. To meet your end of the bargain you need to ensure your car is registered and insured according to the requirements of the finance agreement. ## Vehicle Recalls and Your Car Loan [Vehicle recalls are not uncommon](https://www.productsafety.gov.au/recalls/browse-all-recalls?f%5B0%5D=field_accc_psa_product_category%3A4792 "Explore Common Vehicle Recalls Information"). From time to time manufacturers will recall certain makes or models to rectify an issue that has been identified. Sometimes these issues are extremely serious others are more convenience matters. In most cases the manufacturer repairs/rectifies the vehicle in an acceptable timeframe and you’re back on the road. Different makers will provide owners with different levels of compensation in this situation in regard to a replacement vehicle while yours is being repaired. In these instances there should be no impact on your car loan as the vehicle is repaired and back on the road in a short time. But then there are the times when an entire model is recalled completely and withdrawn from sale and even from production. Such are several cases we have seen in recent motor vehicle industry media related to [new business vehicle finance](/new-car-finance "Exploring Financing Solutions for Your New Business Vehicle") issues. If your car is recalled and effectively taken from you due to a fault of the manufacturer, what happens with your car loan? We can provide a blanket explanation that will cover every eventuality but we can provide a few points for consideration:- You are responsible for meeting your car loan repayments regardless of a recall. It can be advisable to check with your insurer to see if your policy covers you for a replacement vehicle while the manufacturer is sorting out how they will deal with the [no doc car loans Australia](/no-docs-car-loans-for-business-vehicles "Discover Car Financing with Minimal Documentation in Australia") issues. The liability on behalf of the manufacturer may vary according to the specific issue. Compensation may include receiving a complete vehicle replacement or receiving financial compensation for the vehicle at an agreed value. In that case, you can proceed to pay any amount owing on your [ABN car loan](/abn-car-loan "ABN Holder Auto Financing Solutions") and proceed to purchase a new vehicle. In some cases, these situations can get messy but unfortunately, they do happen. But most vehicle makers are large global corporations with their reputations to protect and hopefully will have a process to resolve the situation promptly. ## Reminders So recapping and repeating, set a reminder for your car rego renewal so you don’t cop a fine and you don’t inadvertently end up in default with an unregistered and uninsured vehicle. **For personal car loans and business vehicle finance, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE DETAILS AND INFORMATION PROVIDED IN THIS ARTICLE ARE NOT INTENDED AS THE SOLE SOURCE OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION BUT FOR GENERAL PURPOSES ONLY. PERSONS REQUIRING ADVICE ON THEIR FINANCIAL SITUATION ARE DIRECTED TO CONSULT WITH THEIR FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE INFORMATION AS PRESENTED. THE DATA AND DETAILS WHICH MAY HAVE BEEN SOURCED IN PART FROM THIRD PARTY SOURCES.* **Categories:** Uncategorised --- ### [Are sedans back in style?](https://www.jadecarloans.com.au/blog/are-sedans-back-in-style) **Published:** December 26, 2020 **Author:** Publisher **Content:** The sedan body shape has always been the classic, traditional passenger car since, as the saying goes, ‘Adam was a boy’. That was until more recent times when the SUV emerged and won popularity across multiple market sectors. Just about every car manufacturer has at least one if not several SUV models in their line-up. While it all started with the large 4WD models for off-road enthusiasts and work applications, we now have medium, compact and small SUVs that are designed to suit just about every driver, car owner and vehicle use. SUVs regularly top the most popular cars in terms of sales and other awards and at [Jade Car Loans](/ "Vehicle Financing by Jade Car Loans") we are constantly arranging loans for SUV buyers. The emergence of SUVs has left sedans somewhat in the shade. But are they coming back into vogue? We take a look at some of the sedans on the market and what is due in 2021. ## Hyundai 2021 Sedan In the economy price range, [Hyundai](https://www.hyundai.com/au/en "Explore Hyundai's Official Website") is taken on the [Toyota Corolla](https://www.toyota.com.au/corolla/sedan "Discover Toyota Corolla Sedan Models") which is considered the current leader in this sedan price range segment. At an MSRP of around $30,000 plus delivery [2021 i30 Elite](https://www.hyundai.com/au/en/cars/small-cars/i30/sedan "Explore the 2021 i30 Elite Sedan") could be worth considering. The i30 Elite Sedan replaces the company’s Elantra model which has been discontinued. It is both smart and sporty and could work equally as a family or a business vehicle. Elegant enough for an executive or company rep, economical enough for the school pick-up and comfortable and stacked with tech to make for a very enjoyable road trip. At this point, it is still awaiting receiving its ANCAP rating. For a rough idea of repayments on a 2021 Hyundai i30 sedan, head to our [business car loan calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") page. If you don’t want to wait until 2021 and you want to grab a deal, Hyundai is running a model run out sale. Get your [pre-approved secured car finance](/secured-car-loans "Secure Your Car Finance with Pre-Approval") through Jade before you head into the dealership so you’re in a position to haggle on the price. ## Always in Style – Audi [Audi](https://www.audi.com.au/au/web/en.html "Explore Audi Vehicles") has to have one of the largest model ranges of any car manufacturer. The German luxury car maker covers all body types but the sedan remains a staple in their line-up. A quick refer to their website and we find 9 sedan models currently available. All elegant, stylish and with that trademark engineering excellence. Sedans were never out of style at Audi. To capture a great deal on an Audi right now, they are running their [annual sales event](https://www.audi.com.au/au/web/en/offers/audi-open-haus.html "Explore Audi's Exclusive Annual Sales Event"). Could be worth a look. ## Alfa Romeo Giulia – Sport or Sedan? This [famed Italian car maker offers the new Giulia](https://www.alfaromeo.com.au/giulia.html "Discover Alfa Romeo's Latest Release: The Giulia") which has the body shape of a sedan but with the Sport tag is it sporty or a sedate sedan? Could depend on who is driving! The Giulia is available in Sport and Veloce models, both a 2 litre turbo petrol engine powered and built to be driver-centric. ## Classic Sedans Always in style are the classics from the likes of [Mercedes-Benz](https://www.mercedes-benz.com.au/passengercars.html "Explore the World of Mercedes-Benz Luxury Cars") and [BMW](https://www.bmw.com.au/en/index.html "Discover the World of BMW Excellence"). Like Audi, these German car makers also present a very extensive model line-up which has traditionally focussed on the sedan body shape. Both have multiple variants so there is plenty to consider. Mercs and Beamers are genuinely engineered as long-lasting vehicles so picking up one on the second hand market can be a shrewd buy. Keep our calculator handy on your phone to quickly calculate repayment estimates at our current cheap [commercial car finance rates](/car-finance-interest-rates "Explore Competitive Rates for Commercial Car Finance") while you browse. Luxury sedans are always in style and [Genesis](https://www.genesis.com/au/en/main.html "Visit the Genesis Official Website") and [Tesla](https://www.tesla.com/en_au "Explore Tesla's Official Site") are two brands that have nailed the luxury sedan with elegance and the latest tech. Just a reminder, if considering a hybrid or fully electric vehicle, Jade Car Loans offer the same finance products and cheap interest rates on petrol, diesel, hybrid and fully electric vehicles. ## Finance for a Sedan At Jade Car Loans we don’t differentiate on body type when it comes to our cheap car finance products. Both our secured car loans and full selection of commercial finance facilities such as [business car finance](/business-car-finance "Business Auto Financing Options"), salary sacrificing etc. are available for the purchase of sedans from economy models through to high-end luxury models. If purchasing for private use, our Secured Car Loan is the most commonly used type of car loan. This loan has a straightforward and universally accepted loan format. The car is used as security against the loan and the borrower repays the loan in equal monthly repayments over the fixed loan term. The competition in the lending sector for consumer car finance is strong so using Jade as your lender ensures you’ve covered many options. We’re accredited with multiple banks and lenders so we can quickly source you the cheapest deal that meets your application requirements. All without you leaving home. You just call us and we do all the work. If purchasing a sedan for use in your business, we offer highly competitive, in fact, better car finance across our loan portfolio:- - [Sole trader car loan](/car-chattel-mortgage "Self-Employed Vehicle Finance") - [No doc car loans](/no-docs-car-loans-for-business-vehicles "Low Documentation Auto Financing") - [Low doc car loans](/low-docs-car-loans-for-business-vehicles "Alternative Documentation Vehicle Financing") Chattel Mortgage is the most popular form of finance at the moment as businesses rush to make the most of the Instant Asset Write-off measures currently available. Use our compare lender and compare loans charts to see how our cheap interest rates stack up against the market and use our loan calculator to work out your possible repayments. Or just get moving by giving us a call for a quick quote. Just as sedans never really go out of vogue, a cheap Jade car loan is always in demand. **For a finance quote on a sedan contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE DETAILS AND INFORMATION PROVIDED IN THIS ARTICLE ARE NOT INTENDED AS THE SOLE SOURCE OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION BUT FOR GENERAL PURPOSES ONLY. PERSONS REQUIRING ADVICE ON THEIR FINANCIAL SITUATION ARE DIRECTED TO CONSULT WITH THEIR FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE INFORMATION AS PRESENTED. THE DATA AND DETAILS WHICH MAY HAVE BEEN SOURCED IN PART FROM THIRD PARTY SOURCES.* **Categories:** Uncategorised --- ### [Don't Overlook - Mitsubishi Express Vans](https://www.jadecarloans.com.au/blog/dont-overlook-mitsubishi-express-vans) **Published:** December 29, 2020 **Author:** Publisher **Content:** When you think of [Mitsubishi work vehicles](https://www.mitsubishi-motors.com.au/ "Diverse Mitsubishi Commercial Vehicles"), many business operators would think of [Triton](https://www.mitsubishi-motors.com.au/vehicles/triton.html "Discover the Mitsubishi Triton"). The cab chassis ute is a great seller and a great workhorse. But don’t overlook the other great worker in the Mitsubishi line-up – the Express Van. Many businesses have moved to their delivery services and this worker could be a highly valued member of your work team. Vans also have a great body shape and flexibility to be set up as a mobile working space for service techs, tradespeople and other on-the-road workers. Available in short and long wheelbase options and with a starting price range in the early $40,000s, the [Mitsubishi Express Van](https://www.mitsubishi-motors.com.au/vehicles/express.html "Explore the Mitsubishi Express Van") could be worth a second look for buyers also looking at a Toyota HiAce, Ford Transit or Renault Trafic. First up pricing. If you’re wondering how the price of these top seller vans compare and convert to repayments, head to our [Commercial car finance calculator](/car-finance-calculator "Calculate Your Commercial Car Finance"). Enter the price of as many vans as you want, play around with the loan term and balloon/residual amount and see how each works out in rough repayment estimates. A quick call to Jade for a quick quote will provide you with a confirmed repayment amount to work your budget. So what does the Mitsubishi Express Van have to offer? We take a quick look at the key features. ## Overview: Mitsubishi Express Van You have the choice of SWB and LWB and a choice of auto or manual transmission. However, the transmission choice will depend on your choice of engine – they’re linked. The engine choices are the twin turbo diesel 1.6 litres or the turbo diesel 2.0 litre. The 1.6 litre offers the manual and 2.0 litre the auto transmission, both 6 speed. The wide opening doors at the back are barn-style which can provide greater options and easy loading. Both sides have sliding doors which offers great flexibility for both delivery jobs and service techs. Load capacity is also a choice of 5.2 (SWB) or 6.0 (LWB) cubic metres. While you may be thinking of setting up the cargo area as a mobile work area the cockpit is already set up with inclusions to allow you plenty of connectivity and other options to get plenty of tasks done while out and about. Including a smartphone docking station complete with a USB port. Comfortable seating for three and [Mitsubishi’s own safety and intuitive technology package](https://www.mitsubishi-motors.com.au/buying-tools/mitec.html "Explore Mitsubishi's Advanced Safety and Technology") make the Express a real contender in the van stakes. We’re talking electronic stability control, rear parking sensors and hill start assist as just part of the safety package. Sweetening the deal is the manufacturer’s 10 year capped price servicing and 10 year new car warranty (subject to conditions of course) – both of which are becoming quite expected rather than exceptional when it comes to new vehicles. What is sweet is purchasing your new Mitsubishi Express Van with a [Jade cheap car finance](/ "Affordable Car Financing with Jade Loans") deal. ## Sweetening Your Mitsubishi Express Van Deal At Jade Car Loans we’ve built our business model and our rep on delivering cheaper [business car loan interest rates](/car-finance-interest-rates "Finance for Business Vehicles"). To compare our interest rates and loan offers with other lenders, check out our Compare Lenders Calculator. We’ve compiled a list of several banks and lenders in the [business vehicle finance](/business-car-finance "Finance for Business Vehicles") market including ourselves with the interest rates each is offering. You can see for yourself how Jade can sweeten that van deal for you with cheap interest rates. The next step, deciding on which finance product you should select for your van purchase. We always advise you to speak with your accountant about this decision as there are accounting measures to consider. But, as a bit of a self-serve-no-waiting resource, we’ve prepared a loan comparison chart so you can see the interest rates we offer on our different commercial finance products. ### Jade Car Loans offers the full portfolio of business finance products:- - [Car loans for sole traders](/car-chattel-mortgage "Vehicle Financing Options for Sole Traders") - Low doc car loan Australia - [Hire Purchase Vehicle](/commercial-hire-purchase "Commercial Hire Purchase Solutions") ### What’s included: - Cheap interest rates across the board. Sourced from across Jade’s vast lender panel you are assured we have canvassed the best on the market. - Fixed interest rates for the full loan term so there is no need to review your loan when interest rates change. - Option for balloon or residual which allows you to tailor your loan to achieve the repayments that will work with your cash flow. - Fixed loan terms and fixed repayments so you can plan your cash flow well ahead. - Tax deductibility: interest is tax deductible on all loans, repayments tax deductible on leasing and with Chattel Mortgage the deduction is realised through depreciation of the van in line with ATO rulings when the business income tax return is being prepared. - GST is claimable in full on the next [BAS statement](https://www.ato.gov.au/business/business-activity-statements-(bas)/ "Learn About BAS Statements") for Chattel Mortgage. With Leasing, GST is applied to and claimed on monthly lease payment, if the business is registered for GST. - Tailored finance packages negotiated by your assigned Jade consultant. - Low Docs, No Docs, and [ABN car finance](/abn-car-loan "Explore ABN Holder Car Finance") options. ### What’s not included: - Wasting your time shopping around for loans. - The hassle that is usually involved when you arrange your car finance. Talk to Jade to arrange a pre-approved finance deal for your Express Van before you head into discussions with your Mitsubishi dealer. **For cheap business finance on a Mitsubishi Express Van contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE INFORMATION AND THE DETAILS WHICH HAVE BEEN INCLUDED IN THE ARTICLE IS PROVIDED AS GENERAL INFORMATION ONLY. THERE IS NO INTENTION THAT THIS BE THE ONLY SOURCE OF FINANCIAL INFORMATION FOR THE READER. IT IS INTENDED AS GENERAL IN NATURE. IF A READER CONSIDER THEY REQUIRE FINANCIAL ADVICE AROUND THEIR OWN PERSONAL FINANCES, THEY ARE DIRECTED TO CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY ERRORS OR MISREPRESENTATIONS OF DATA, FIGURES, FEATURES AND INFORMATION AS SOURCED FROM OTHER SOURCES SUCH AS MANUFACTURERS OR GOVERNMENT DEPARTMENTS AND AUTHORITIES.* **Categories:** Uncategorised --- ### [What's new with the MG?](https://www.jadecarloans.com.au/blog/whats-new-with-the-mg) **Published:** January 2, 2021 **Author:** Publisher **Content:** We’ve noticed that MG has been engaging in a lot of advertising lately and it has piqued our interest to see what all the fuss is about. What has changed and what’s new with this once very British car maker (now owned by [Auto Shanghai](https://www.saicmotor.com/english/index.shtml "Visit Auto Shanghai at SAIC Motor"))? MG stands for [Morris Garages](https://mgmotor.com.au/ "Explore Morris Garages (MG) Vehicles") and the brand dates back to 1924. For baby boomers and older generations, the MG was the sports car of dreams and aspirations – the TA and TC especially. The two-door, two-seater, low to the ground car which grew from a soft-top convertible to several hard-tops over time. In the 1970s it was all about the MGB. Enough of reminiscing and flash-backs that was way back when. Fast forward to 2020-21 and what??? At [Jade Car Loans](/ "Discover Jade Car Financing Solutions") we take an interest in the complete motor vehicle market so we were keen to see what the new generation MG has to offer our customers. The current advertising campaign appears to be associated with some great price offers. Match that with a Jade cheap [business car financing rate](/car-finance-interest-rates "Explore Competitive Business Car Loan Rates") and that could be your new vehicle sorted. ## Current MG Collection The MG range currently available on the Australian market consists of a light hatch and a compact SUV with variants of each. MG appears to be ‘reading the market’ with the SUV. For buyers who want a smart city runabout and for young drivers who want a small, inexpensive car, the light hatch will be welcomed. Especially as several other car makers seem to have ceased availability of this category in Australia as so many buyers turn to SUVs. The price range is in that very affordable category, especially for a vehicle with the pedigree and instantly recognisable badge that MG represents. [The light hatch, the MG3](https://mgmotor.com.au/models/mg-mg3auto/ "Discover the MG3 Light Hatch"), is available in 3 variants: Core, Core with Nav and Excite. All have a 4 cylinder 1.5 litre petrol engine, 4 speed auto transmission, 5 doors with handy hatch, 6 airbags, ABS, 4 or 6 speakers sound system dependent on model with Bluetooth and USB, 60:40 rear seat folding and have a Euro 5 for emissions rating. Available in a fun range of colours including yellow, red, and blue which will likely appeal to many buyers in this category. At an advertised starting price for the Core under $17,000 plus delivery, dealer etc. charges, the MG3 looks like one to consider for those who want a light hatch with a level of sports heritage and panache. The Core with Nav and Excite variants have added features and step up in price. Refer to the Jade [Business vehicle Loan calculator](/car-finance-calculator "Calculate Your Business Vehicle Loan Online") to see how estimated repayments increase with the advertised pricing on the 3 variants. The market has turned and MG has turned with it to SUVs. They offer 4 SUV models with variants in each so you’ll need to study the specs and features to select which best suits your requirements. [The MG ZS EV Essence](https://mgmotor.com.au/models/mg-zsev/ "Explore the MG ZS EV Essence Model") is the brand’s electric vehicle and presents an interesting package to consider for a currently advertised drive away price point under $44,000. As expected, the other models are at lesser price points with the [MG ZST](https://mgmotor.com.au/models/mg-zst/ "Discover the MG ZST Model") with its two variants – Excite and Essence – starting at just under the $30,000 mark. The ZST has a 3 cylinder, 1.3 litre turbo petrol engine, with 6 speed transmission. Plenty of safety features to meet the expectations of a family drive buyer and the space and style for the business buyer. In a very crowded compact SUV market, the MG could be worth including on your test drive list. ## MG Finance Options When weighing up the different model variants, buyers can consider if they need or want the added extras while at the same time comparing the cost of the options in terms of car loan repayments. Our car loan calculator allows you to easily vary the loan amount and see how that changes the repayments. For business buyers, Jade Car Loans offers the full range of finance products such as [commercial vehicle finance](/business-car-finance "Explore Business Vehicle Finance Options") to purchase an MG. The SUV in particular may make the ideal work and play crossover, with a spacious cargo area for handling your customer deliveries. To finance your MG, it’s your choice of:- - Chattel Mortgage - MG Leasing - [Hire Purchase Vehicle](/commercial-hire-purchase "Discover Commercial Hire Purchase Solutions") All with the option of a balloon/residual and priced at our Jade cheap interest rates. For private buyers, our Jade Secured Car Loan is the most commonly used loan product. It’s easy to understand that the car is used as security against the loan and the loan is repaid in equal monthly instalments over the fixed loan term. Applying for finance for a new MG is easy, simply use our online application form or apply over the phone. You will be assigned one of our consultants to assist you through the entire MG finance process through to the settlement and delivery of your new MG. **For a finance quote on a new MG hatch or SUV contact Jade Car Loans at 1300 000 003** DISCLAIMER: THE INFORMATION AND THE DETAILS WHICH HAVE BEEN INCLUDED IN THE ARTICLE IS PROVIDED AS GENERAL INFORMATION ONLY. THERE IS NO INTENTION THAT THIS BE THE ONLY SOURCE OF FINANCIAL INFORMATION *FOR THE READER. IT IS INTENDED AS GENERAL IN NATURE. IF A READER CONSIDER THEY REQUIRE FINANCIAL ADVICE AROUND THEIR OWN PERSONAL FINANCES, THEY ARE DIRECTED TO CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY ERRORS OR MISREPRESENTATIONS OF DATA, FIGURES, FEATURES AND INFORMATION AS SOURCED FROM OTHER SOURCES SUCH AS MANUFACTURERS OR GOVERNMENT DEPARTMENTS AND AUTHORITIES.* **Categories:** Uncategorised --- ### [NY21 Decision: buy now or wait for new models?](https://www.jadecarloans.com.au/blog/ny21-decision-buy-now-or-wait-for-new-models) **Published:** January 4, 2021 **Author:** Publisher **Content:** The start of a new year can signal the time for big decisions. With last year’s regrets to make up for and this year’s resolutions to plan, there can be a lot to consider especially if buying a new car is in the mix. The end of the year and into the early part of January is often a big sale time in the motor vehicle sector. Dealers are keen to move stock to make way for new models. At [Jade Car Loans](/ "Visit Jade Car Finance") we’re seeing plate clearances across the market. But at the same time, car makers start teasing and tempting with information about their upcoming new model releases. So what should you do? Grab a plate clearance or sale deal on the current model or wait for the brand new model to arrive. We’re covering several issues to assist with arriving at your own decision and as always, Jade Car Loans is on hand to give you quick quotes and fast approvals across all our car finance products. ## Current v New Model While the decision of when to purchase a new car will be based on numerous factors, here are a few ideas we’re throwing into the mix around buying a current model or waiting for the new release. COVID has made us all realise that we need to be flexible with our plans as life can be upturned quickly and dramatically through events well outside our control. If you wait for the new model: - Will it be significantly different to warrant the higher price which usually accompanies a new release? - Will it be as you expected? - Does it have features that will serve your business needs in the future? [If the price you buying deal maker or breaker](/blog/runaway-with-cheap-car-finance-on-run-out-models "Learn More About Car Buying Decisions"), then buying now, at clearance or sale pricing could be the way to go. Buy now: - Capture a cheap deal and possibly save significantly compared with the newer model. - Savings on the price tag also convert into what you may save over the term of your car finance. - Purchase a vehicle so that you can read reviews and know what you’re getting. ## 2021 New Car Models As usual, many car makers have plans for new model releases throughout 2021. Some provide an indication of when while for others it is TBA. Pricing is also usually delayed until closer to the launch date so you may not know how much you will need to pay on that new model until it lands in Australia. Another aspect to [look out for is the growth in the EV market](https://arena.gov.au/assets/2018/06/australian-ev-market-study-report.pdf "Explore the Expansion of Electric Vehicle Market Trends"). Some models will arrive as fully EV only which may or may not suit your requirements. We referred to a reputable source for some indication of what manufacturers will be bringing new models into the Australian market in 2021. - BMW is reported as launching several electric SUVs in Australia later in the year. - For a work vehicle at a great price point you could [wait for the new model GWM](https://gwmhaval.com.au/homepage "Anticipate the Arrival of the New GWM Model") Steed ute. Pricing for this maker is significantly lower than the leaders but could be worth considering. - Also in the workhorse market, a new generation Nissan Navara is expected in 2021. - Skoda has several new models due early in the year. - In March you can expect the release of a new Subaru Outback which may offer wagon buyers a great option. - A new [Toyota LandCruiser](https://www.toyota.com.au/landcruiser-200 "Discover the Toyota LandCruiser 200 Series") is expected and 4WD fans will no doubt already be sizing it up. That’s just a mere few but you can check the website of your preferred manufacturer for ‘coming soon’ notices and ‘register your interest’ tabs. ## Finance Now or Finance Later? As we mentioned above, differences in prices are realised through the entire finance term in the repayment. We cover some of the other financial aspects to consider:- - Regarding business vehicle finance and personal car loans, Jade Car Loans products will remain the same into 2021: Secured Car Loan, Chattel Mortgage, Leasing and CHP. - Our [business car loan calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") and interest rates comparison chart to easily compare pricing will be available at all times. - Do you have a loan on your current vehicle that you intend to trade in? Consider the costs of paying out that loan early when weighing up car purchase pricing. - If you have business finance on your current vehicle, are you hoping the trade-in value will cover any balloon/residual that is owed? Get a valuation on your current vehicle and a payout figure from your lender. - Interest rates: Based on comments by [RBA Governor Philip Lowe](https://www.rba.gov.au/about-rba/people/gov.html "Learn More About RBA Governor Philip Lowe"), we would expect interest rates to remain at low rates in 2021. But we didn’t expect the official cash rate to drop below the .25% rate and it was. So with the current COVID situation still having an impact on the economy, who knows? - Economic outlook: The [Northern Beaches-Avalon COVID-19 cluster outbreak](https://www.theguardian.com/australia-news/2020/dec/18/coronavirus-nsw-what-we-know-about-the-source-of-sydney-northern-beaches-covid-cluster "Learn More About the Northern Beaches-Avalon COVID-19 Cluster Outbreak") is reported to have cost the NSW economy in the order of $ 3 billion and the second wave and extended shutdown in Victoria made a significant negative impact on the Australian GDP and employment figures. It will be interesting to see if the Federal Government announces any additional support packages in light of [JobKeeper ending at the end of March](https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-key-dates/ "Explore JobKeeper Payment Key Dates"). - Business tax measures timeframe: temporary full expensing and loss carryback may be of significance to your business and impact your vehicle purchase decisions. Review the timeframes and eligibility criteria. ## Is there are better time or not to apply for a car loan? The car finance market is not driven by the calendar but more by economic conditions which may impact our Jade Car Loans lenders. At Jade, we operate at the same pace and consistency throughout the entire year. So our finance products are always available at our better interest rates and individually tailored car finance packages. To assist with your decisions, you can always apply for a personal car loan or [business car finance](/business-car-finance "Explore Business Vehicle Financing Solutions"), even well before you decide on which car. Pre-approved finance is available through Jade. These applications do have a use-by date. The pricing or quote provided will be valid for a certain time, after which the pricing will need to be assessed/reviewed. Whatever you decide – buy a plate clearance vehicle now or wait for a new model to be released, Jade Car Loans consultants are on hand to assist with your finances. **To discuss your motor vehicle finance options call Jade Car Loans at 1300 000 003** *DISCLAIMER: THIS INFORMATION HAS BEEN PREPARED FOR THE PURPOSE OF GENERAL INFORMATION AND IS NOT INTENDED AS FINANCIAL ADVICE OR THE ONLY SOURCE FOR THE PURPOSE OF MAKING INDIVIDUAL FINANCIAL DECISIONS. IF A READER CONSIDERS THAT THEY REQUIRE ADVICE ON THEIR FINANCIAL SITUATION, PROFESSIONAL ASSISTANCE AND ADVICE SHOULD BE SOUGHT FROM A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISINTERPRETATIONS OR ERRORS IN DATA, CONTENT AND INFORMATION AS SOURCED FROM OTHER PARTIES. THE INFORMATION PRESENTED IS FOR GENERAL INFORMATIVE PURPOSES AND READERS ARE ADVISED TO FOLLOW UP INDEPENDENTLY.* **Categories:** Uncategorised --- ### [Know Your SUV: AWD, 4WD, FWD, 2WD, 4x4???](https://www.jadecarloans.com.au/blog/know-your-suv-awd-4wd-fwd-2wd-4x4) **Published:** January 8, 2021 **Author:** Publisher **Content:** The SUV (Sports Utility Vehicle) market has surged in recent times with sales of this type of vehicle topping best-selling lists and rankings. Buyers across many classes are deserting the traditional body types in favour of the SUV option and car makers have responded accordingly. With few exceptions, car makers have introduced SUVs into their line-ups, many offering a range of options to cover large, family, work, medium and compact classes. What has not necessarily increased in line with SUV sales is an understanding of the capabilities of the different types of SUV on the market. Just because you’re buying an SUV does not mean you can safely head off-road into rough terrain, through creeks and drive on the beach or through snow. SUVs come with different driving capabilities known as the drivetrain and buyers should fully appreciate the capabilities of the model they are considering and ensure it will be suitable for their requirements. At [Jade Car Loans](/ "Cruise into Affordable Auto Financing with Jade Car Loans") we are intent on educating car buyers so we’re providing an overview of some of the terminology around SUVs and other aspects to add to your knowledge bank. ## Definitions Every SUV will be defined as either FWD, AWD, 4WD or 4×4 which determines its capabilities. What you may like to consider when purchasing is:- - Towing capabilities if you plan to tow a boat, trailer or caravan. - Sand: Do you plan to head to places like [Fraser Island](https://www.fraserisland.net/ "Discover the Wonders of Fraser Island Here") and drive on the beach? - Alpine conditions: National Parks require chains to be carried and used by all non-4WD vehicles. Not all SUVs have 4WD. - Rural properties: Agricultural operators usually know their vehicles and what they need very well. For novices, if you plan to drive in paddocks and fields, buy the right vehicle. - Off-road driving is a popular recreation with many clubs around Australia. This pursuit requires a serious 4WD vehicle. - Your driving skills – a compact SUV with FWD is great for city driving and business requirements and doesn’t require the skill of operating a 4WD. As a guide, we’ve compiled a brief overview of SUV terminology for your general information:- - AWD: This stands for all wheel drive and means that all four wheels engage to propel the vehicle. This set-up can be suited for many off-road, rough and more difficult terrains. May not have all the capabilities of a full four wheel drive vehicle but may have some similarities. Many [Audi vehicles](https://www.audi.com.au/au/web/en/model-range/suv.html "Explore Audi's Impressive Lineup of SUVs") are set up as AWD. Check the manufacturer’s specifications to ensure you know the capabilities. - FWD: the F is for ‘front’ not ‘four’. A FWD vehicle signifies front wheel drive which is the most common set-up for most cars, both SUVs and other body shapes. It means the front wheels are utilised to propel the vehicle. Many compact and medium SUVs will have FWD and as such not designed to go off-road or safely drive through snow and sand. You usually get higher ground clearance compared with say a sedan, but these vehicles are usually more about the body shape style, convenience for business and fun recreational pursuits than serious off-road driving. - 2WD is two wheel drive and is usually an alternative to FWD but may be RWD which is rear wheel drive. - 4WD and 4X4: These both indicate the power is sent to all four of the wheels but differentiating is more complex. There are differences – think part-time and full-time 4WD for starters. If you are looking for a serious vehicle to take on off-road terrain or for use on your property, you will likely know what to look for. We recommend a deeper dive into the details and conversations with the dealers. - ATV or All-Terrain Vehicle is usually used to describe what is commonly known as quad bikes. Knowing your drivetrain is very important. The unsuspecting and uninformed can get caught in risky and treacherous circumstances. You may think your SUV is OK for the conditions only to find a snowstorm or massive rain event occurs and you are stranded. For example, the current top selling vehicle in Australia is the [Toyota RAV4](https://www.toyota.com.au/rav4 "Uncover the Toyota RAV4 at Toyota Australia") and it is available in 2WD and AWD options. ## Drivetrain If you want a vehicle that allows you to drive say on the sand/beach or in alpine conditions without snow chains, then it is strongly advisable to know what you are doing! Driving courses are not just for learner drivers. There are driver training companies across the country that offer courses in many aspects of driving – advanced and 4WD included. If you want to get off-road, joining a 4WD club can be a great way to go. They have regular events and members usually love to share knowledge and stories and proudly display their skills to tow/recover your vehicle if you get stuck. ## Financing Different SUVs While there are many differences across the SUV market, when it comes to financing to purchase, Jade Car Loans offers the same loan products regardless of your model choice. Our full range of motor vehicle finance is available for AWD, FWD, 2WD, 4×4 and 4WD vehicles across all leading manufacturers. - Personal [Secured Car Loan](/secured-car-loans "Explore Reliable Secured Car Loan Options") for private buyers. - Chattel Mortgage, Leasing and [Hire Purchase Car](/commercial-hire-purchase "Learn About Commercial Hire Purchase Car Financing"). All our SUV loans are based on[ business car loan interest rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Business Car Loans") and have fixed repayments and fixed loan terms. Use our [business car loan calculator](/car-finance-calculator "Access a Handy Business Car Loan Calculator") or lender comparison calculator for a rough repayment estimate on the different SUVs you are considering. **For a quote on any SUV contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THIS INFORMATION HAS BEEN PREPARED FOR THE PURPOSE OF GENERAL INFORMATION AND IS NOT INTENDED AS FINANCIAL ADVICE OR THE ONLY SOURCE FOR THE PURPOSE OF MAKING INDIVIDUAL FINANCIAL DECISIONS. IF A READER CONSIDERS THAT THEY REQUIRE ADVICE ON THEIR FINANCIAL SITUATION, PROFESSIONAL ASSISTANCE AND ADVICE SHOULD BE SOUGHT FROM A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISINTERPRETATIONS OR ERRORS IN DATA, CONTENT AND INFORMATION AS SOURCED FROM OTHER PARTIES. THE INFORMATION PRESENTED IS FOR GENERAL INFORMATIVE PURPOSES AND READERS ARE ADVISED TO FOLLOW UP INDEPENDENTLY.* **Categories:** Uncategorised --- ### [2021 Jade Car Loans Guide](https://www.jadecarloans.com.au/blog/2021-jade-car-loans-guide) **Published:** January 11, 2021 **Author:** Publisher **Content:** Thinking of buying a new car in 2021? We’ve compiled this condensed reference guide of help, hints and hacks to assist you with the lending side of the buying process. In addition, we have a number of self-serve resources available right here on our website. The [fastest business car loan calculator](/car-finance-calculator "Accelerate Your Business Financing with the Best Car Loan Calculator") allows you to generate quick rough estimates and shape how you might like your car finance structured. Our Lender Comparison chart allows you to compare interest rates from a selection of our lenders and see how those rates might convert to repayments on your loan. Our Jade Car Loans team stays across the motor vehicle market and we’re constantly posting new articles covering vehicle brands, lending issues, changes to government policy and other topics relevant to car finance. If self-serve is not for you or when you’ve completed your own browsing and research, our consultants are on hand to answer your queries and source you a [cheap car loan](/ "Discover Affordable Auto Financing Options Here"). ## Interest Rates We’ll start with the biggie topic – interest rates. The RBA reduced the official cash rate several times in 2020 and 2021 starts with interest rates on lending at historic low levels. This scenario is expected to continue but [the RBA board](https://www.rba.gov.au/about-rba/boards/rba-board.html "Meet the RBA Board Members") will be considering quarterly GDP figures, employment numbers and other economic indicators when they meet each month to consider any changes to interest rates. All [fixed business car finance rates](/car-finance-interest-rates "Explore Stable Business Car Finance Rates") at Jade Car Loans are set at a fixed rate, ensuring that any fluctuations in interest rates will have no impact on existing car loans ## Personal Loans The big issue for 2021 around consumer finance is the proposed changes to [consumer credit laws flagged by the Federal Government](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1920a/20bd083 "Read about Proposed Federal Government Initiatives on Consumer Credit Laws") for April 2021. We covered this in detail when it was proposed and we refer you to our earlier article for the detail. The bottom line – the changes are designed to streamline the loan process and primarily address delays with home mortgages. When implemented, the changes may make the process of accessing consumer finance easier and smoother, especially for some applicants. These changes will not impact our loan products. Our [Jade Secured Car Loan](/secured-car-loans "Explore the Jade Secured Auto Financing Solution") is the most popular form of loan for private car buyers and the features will remain the same. By using Jade as your finance specialist to source and arrange your car loan you are always assured of a smooth, streamlined process. Hint: have a read of our details on [Novated Car Leasing with Salary Sacrificing](/novated-car-leasing-and-salary-sacrificing "Unlock the Benefits of Salary Sacrifice Novated Car Leasing"). This is a finance product where an employee and employer enter an agreement to purchase a vehicle on behalf of the employee. ## Business Vehicle Finance Some of the [major business tax measures announced in the 2020/21 Federal Budget](https://www.theguardian.com/australia-news/2020/oct/06/summary-australia-federal-budget-2020-key-points-taxes-jobs-welfare-education-health-business "Explore Key Business Tax Changes in the 2020/21 Federal Budget") are active and apply to eligible vehicles and eligible businesses. We’re talking the accelerated asset depreciation measures such as [IAWO](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/) and [temporary full expensing](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/ "Learn More about the Temporary Full Expensing Tax Provisions"). Loss Carry Back may also benefit some businesses when buying new vehicles. Chattel Mortgage is the most appropriate form of finance to take advantage of accelerated depreciation but Jade also offers Leasing and CHP. All our [best business car finance](/business-car-finance "Discover Top Options for Business Vehicle Financing") products offer tax benefits. Speak with your accountant as to which will deliver the best outcome for your business set-up. For businesses looking at providing cars to staff members in 2021, talk to one of our consultants about [Novated Leasing with Salary Sacrificing](/blog/understanding-novated-lease-salary-sacrificing "Explore the Benefits of Salary Sacrifice Novated Leasing") as an option. ## CTP and Insurance If buying a new car, the dealer will usually arrange CTP when registering the car in readiness for delivery to you. CTP is highly competitive so if you are seeking a policy, it’s worth looking around to see how much you could save. Ditto on car insurance. When taking out finance to purchase a car, lenders require you to take out a comprehensive car insurance policy. Insurers are highly competitive in this sector so do your homework but read the fine print carefully so you fully understand what you are getting and not getting. ## 2021 Dates to Diarise - Car rego, driver licence and insurance renewals: there were many reports through 2020 of drivers being caught for driving unregistered vehicles. With many states moving to ‘no sticker’ rego, car owners are forgetting to renew rego. If your car is unregistered it can impact your insurance and result in hefty penalties from authorities. Same goes for [renewing your driver licence](https://www.qld.gov.au/transport/licensing/driver-licensing/renew-replace/renew/online "Online Driver License Renewal Process") and insurance policies. Put a reminder in your phone or diary NOW so you don’t get caught out. - April: the proposed simplified laws around consumer lending are due to come into effect. - May: Federal and state budget time. Keep an eye out for any new tax measures relevant to motor vehicle purchases which may be the incentive to buy. - June: EOFY looming so it’s time to get your tax details ready. - End June: time for EOFY car sales which is often a great opportunity to grab a bargain on new vehicles. - New car releases: we don’t have a comprehensive calendar for new model launches but we have read news of plans by many manufacturers to release new models in 2021. Look out for plate clearance sales pre-launch. - November: for motor racing enthusiasts, COVID-19 has caused the postponement of the [Australian GP in Melbourne](https://www.grandprix.com.au/ "Explore the Australian Grand Prix in Melbourne") from March to November. ## Sourcing Quotes on Cheap Car Loans Whenever you choose to buy that new car, Jade Car Loans is on hand to source you the cheapest finance deal and save you a heap of time and hassle in arranging your loan. **To discuss a cheap loan on a new car, call Jade Car Loans at 1300 000 003** *DISCLAIMER: THE CONTENT IN THIS ARTICLE IS PREPARED SOLELY FOR GENERAL INFORMATIONAL PURPOSES. THIS CONTENT IS NOT PROVIDED AS FINANCIAL ADVICE. IF YOU REQUIRE ADVICE AROUND YOUR PERSONAL FINANCIAL SITUATION IT IS RECOMMENDED THAT YOU CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO ERRORS OR MISREPRESENTATION* OF CONTENT AS IT PERTAINS TO GOVERNMENT MEASURES AND POLICIES, PRODUCT *SPECS AND DETAILS AND OTHER DATA AS SOURCE VIA THIRD PARTIES.* **Categories:** Uncategorised --- ### [Finance for the Lexus Line-Up](https://www.jadecarloans.com.au/blog/finance-for-the-lexus-line-up) **Published:** January 16, 2021 **Author:** Publisher **Content:** [Lexus ramped up advertising for their plate clearance in early 2021](https://www.lexus.com.au/campaign/find-your-away "Check Out Lexus' 2021 Plate Clearance Advertising Campaign") so if that has sparked your interest in the brand as it has ours, we cover what’s in the Lexus line-up and how you can access cheap finance for your purchase. As most of the motoring public is well aware, Lexus is Toyota’s luxury vehicle division, which emerged onto the market in the late 1980s. While buyers were more accustomed to German factories producing luxury cars, many were initially sceptical of a luxury brand from Japan. But now Lexus sits alongside the likes of BMW, [Mercedes-Benz](https://www.mercedes-benz.com.au/passengercars.html?group=all&subgroup=see-all&view=BODYTYPE "Explore the Mercedes-Benz Lineup") and [Audi](https://www.audi.com.au/au/web/en.html "Discover Audi's Official Website") in providing luxury vehicles at quite achievable price points that suit a wide range of buyers. The initial Lexus models concentrated on the mid-sized sedan or saloon car. The classic executive vehicle or car for the mature driver. But in line with the market, the Lexus line-up has developed and grown to now include sedans, SUVs and sports coupe models. ## Lexus Coupe – the RC With international travel looking like it is off the agenda for most Australians for 2021, having a luxury vehicle for road trips could be a great alternative. Why not slip into your [Lexus RC](https://www.lexus.com.au/models/rc/overview) each weekend for an escape to the country or coast retreat for a few days? RC stands for Racing Coupe and this is a very elegant and sporty vehicle with aerodynamics and performance to impress. Imagine sliding into your RC each day for that commute to work – traffic snarls will be far more enjoyable. ## Lexus Sedans The sedan is where Lexus made its name the current model line-up continues to impress. The flagship is the [Lexus LS](https://www.lexus.com.au/models/ls/overview) but there is also the medium sized ES and medium with [sportier look IS](https://www.lexus.com.au/models/is/overview). All are available in hybrid versions. ## Lexus SUVs The demand for SUVs has skyrocketed and Lexus has joined the party with four models. The [compact UX](https://www.lexus.com.au/models/ux/overview), [medium NX](https://www.lexus.com.au/models/nx/overview), [large RX](https://www.lexus.com.au/models/rx/overview) and flagship [luxury LX](https://www.lexus.com.au/models/lx/overview). Hybrid options are available on the UX, NX and RX models. The large RX would suit a lot of buyers. As the family vehicle to cater for recreation, holidays and the weekly pick-ups, drop-offs and ferrying around with 5 or 7 seats available. As a business vehicle, the RX offers a stylish vehicle for any business owner or executive, with the added attraction of the luggage space for carting any stock, samples and equipment (not perhaps for tradie tools) such as for photographers, surveyors, interior designers, architects and many other consultants. For those considering the [best business car loan](/business-car-finance "Explore Top Options for Business Auto Financing"), this is a very stylish means of delivering your customer orders! ## Lexus Hatch An interesting member of the line-up is the compact hatch, the [Lexus CT](https://www.lexus.com.au/models/ct/overview). According to Lexus, this is a world first in the luxury hybrid hatch market. It has a 1.8 litre petrol engine which works with the electric motor in a very advanced drivetrain set-up. The styling is sophisticated yet bold and the CT presents many possible options to many buyers. Some view this compact hatch as an alternative to a wagon (not that many manufacturers refer to that body shape in contemporary motor vehicle terminology). However, the CT appears to have form and function to cater for many tasks. Small deliveries for the business owner for a start. These days, most business operators want the option of at least some sort of cargo space and the CT offers an option worth considering, especially for those looking into the [best low doc car loans](/low-docs-car-loans-for-business-vehicles "Discover the Best Low Documentation Car Loans"). Perhaps as a more luxurious alternative to say one of the Subaru models? There are several other models in the current Lexus line-up and a plate clearance sale happening in early 2021. So worth a look? ## Finance Options [Jade Car Loans](/ "Explore Jade Car Loans") brings the luxury of a Lexus within the reach of more buyers with our cheap car loans. If you can acquire your Lexus with finance at our [better business car interest rates](/car-finance-interest-rates "Find Competitive Business Car Loan Interest Rates"), then why consider a lesser quality vehicle? As a starting point, head to our lender comparison calculator chart and see just how low we can go when it comes to those interest rates, compared with others. ## Private Lexus Buyers If buying any models in the Lexus line-up for your private vehicle, our [Cheapest Secured Car Loan](/secured-car-loans "Discover the Most Affordable Secured Car Loans") should be your finance option. This follows the universally accepted secured consumer finance structure with the car used as security against the loan. No deposit options are available to approved applicants and your Jade consultant will negotiate the loan term that best meets your repayment preferences. ## Business Lexus Buyers The Lexus has always been regarded as an ideal business vehicle. Initially, the sedan was for the up and coming executive but with the expanded line-up, Lexus has broader appeal and would suit many business buyers. To suit all types of business buyers, Jade offers the full range of business finance facilities:- - Leasing for Lexus - [Chattel Mortgage for car](/car-chattel-mortgage "Understanding Chattel Mortgage Options for Your Car") - [Best Hire Purchase Car](/commercial-hire-purchase "Discover the Top Hire Purchase Car Choices") Your Jade consultant will structure your finance package with no deposit, negotiated terms, or balloon/residual to make the repayments meet your affordability scale and base the entire loan on our better interest rates. Before you head into Lexus for a test drive, speak with us about pre-approved finance so you are ready to sign and get behind the wheel of your new Lexus ASAP. **For a quote on cost-effective Lexus finance contact Jade Car Loans at 1300 000 003** DISCLAIMER: THE CONTENT IN THIS ARTICLE IS PREPARED SOLELY FOR GENERAL INFORMATIONAL PURPOSES. THIS CONTENT IS NOT PROVIDED AS FINANCIAL ADVICE. IF YOU REQUIRE ADVICE AROUND YOUR PERSONAL FINANCIAL SITUATION IT IS RECOMMENDED THAT YOU CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO ERRORS OR MISREPRESENTATION OF CONTENT AS IT PERTAINS TO GOVERNMENT MEASURES AND POLICIES, PRODUCT *SPECS AND DETAILS AND OTHER DATA AS SOURCE VIA THIRD PARTIES.* **Categories:** Uncategorised --- ### [Pure Style or Purely Function? Ute Decide](https://www.jadecarloans.com.au/blog/pure-style-or-purely-function-ute-decide) **Published:** January 18, 2021 **Author:** Publisher **Content:** Do you decide on your work ute purely for its functionality features? Or are you more into having a vehicle that makes a statement about you and your business? Or do you want it all? The criteria for ute buyers can be as demanding as their working environment. Some approach the process from a totally practical point of view. Selecting a vehicle that does the job. Has the capacity, specs, and features and often is priced within what most would consider an affordable price range. For others, their work ute is more than just a vehicle. It’s a workmate, a weekend mate, and their pride and joy. Their use reflects their style, perfectly matches their approach to life and defines their [commercial car loan for new business](/new-car-finance "Explore Financing Options: Commercial Car Loan for New Businesses"). Many manufacturers have ‘read the market’ and offer utes and cab chassis vehicles that offer owners both bold styling and ideal functionality. For those who want it all, there are some great choices. To kick off the 2021 ute buying season, we overview the market from a purely objective point of view and leave you to make your own buying decisions. To convert manufacturer pricing to loan repayments, simply refer to our loan calculator. ## Ute Market Overview - [Toyota HiLux](https://www.toyota.com.au/hilux "Discover the Toyota HiLux") is consistently the top-selling vehicle in its class and for plenty of great reasons. Reliable, a great manufacturer and has a wide range of choices in body types and upgrades. The basic workmate is your functional vehicle that suits many applications – job done. But step up to the Rogue and Rugged X, consider the different paint selections, bulbar, bush plate and special features and you have a statement vehicle. - GWM is known for great priced utes with the functionality to suit most jobs. Good value. But the 2021 model Ute, the Cannon, has a new styling that could up the ante for some buyers. It replaces the Steed and some reviewers suggest it could give Ranger, D-Max and other buyers something to think about. - The [Ford](https://www.ford.com.au/vehicles/) Ranger Raptor is a real performance vehicle with off-road functionality and bold statement styling and Ford states it arrives ‘factory ready’. This appears to be the weekend warrior come weekday worker vehicle in one very serious package. - [RAM Trucks](https://www.ramtrucks.com.au/ "Explore RAM Trucks") have certainly started to get noticed in the Australian ute market. According to reports, demand is strong for these US pickup trucks as Australian buyers embrace the powerful V8 engine and the strong, statement styling. Serious off-road capabilities in [the Warlock](https://www.ramtrucks.com.au/vehicles/1500-warlock-v8-hemi-crew-cab/) but at a serious price point, buyers will no doubt be pushing our [Jade consultants for the cheapest car finance deals](/ "Connect with Jade Advisors for the Most Affordable Car Financing Solutions"). - The [Mazda BT-50](https://www.mazda.com.au/build/) probably straddles that function/style line. A 3 litre diesel, with fuel efficiency, connectivity and the functionality and performance to meet the demands of most job sites. Good selection of models but perhaps not making as bold a statement in style and appearance as say a Raptor or RAM. But for function, this could be your ute for 2021. - [Isuzu](https://www.isuzuute.com.au/) is the top selling truck brand again in 2020 and their ute offering, [the D-Max](https://www.isuzuute.com.au/d-max/overview) also appears to have the goods. Off road and on road capabilities, have impressive towing capacity and have been described as a game changer. To change your game with a D-Max, purchase yours with a [low interest rate business car loan](/car-finance-interest-rates "Explore Competitive Rates on Business Car Loans") from Jade. That’s just a brief overview and we know there are many other ute options that we will explore through our 2021 blogs. But for now, if you’re in the ute market it’s time to talk finance. ## Functional Finance – always in Style New model utes are released each year but fortunately, our cheap ute finance is always on trend. We offer the full range of loan products to suit the full range of ute buyers. Ute buyers have a choice of:- - [Car Chattel Mortgage](/car-chattel-mortgage "Learn About Car Chattel Mortgages") - Leasing - CHP All come with our cheap fixed interest rates, fixed repayments and fixed loan terms and no deposit finance is available. Refer to our interest rate comparison chart to see the rates for each finance product. Speak with your accountant as to which finance structure will best suit your business and work side by side with you and your team to deliver the outcomes you expect. For buyers who are just starting, Jade has the connections to source [cost-effective Low Docs Car Loans](/low-docs-car-loans-for-business-vehicles "Discover Economical Low Documentation Car Loan Solutions") and [affordable ABN Car Loans](/abn-car-loan "xplore Budget-Friendly ABN Vehicle Financing Options"). This is a specialty service as very few banks will offer finance to businesses that have been operating for less than 1-2 years. We do have accreditation with non-bank lenders that offer this category of finance and with attractive and affordable packages. Each deal will be individually negotiated but you may expect the same cheap interest rates as we currently advertise but with some additional conditions attached to the loan. These may include additional property as security be put up against the loan and the lender may place a maximum on the loan amount. For low docs and ABN ute finance, an ABN is essential as is some financial paperwork which may include simple accounts etc. Being registered for GST is not essential but is preferable. To discuss all your ute finance options with the functionality to suit your business operation, speak with one of our consultants or simply request a quick quote online. **For use finance that is both functional and always makes a bold statement call Jade Car Loans at 1300 000 003** *DISCLAIMER: NO LIABILITY IS ACCEPTED FOR MISINTERPRETATION, MISREPRESENTATIONS OR ERRORS IN THE INFORMATION AND PRODUCT DETAILS INCLUDED IN THIS ARTICLE AS SOURCED THROUGH OTHER ORGANISATIONS AND MANUFACTURERS. THE INFORMATION PROVIDED IN THIS ARTICLE IS NOT PRESENTED FOR OR INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION IN REGARD TO A FINANCIAL DECISION. IT IS FOR GENERAL INFORMATIVE PURPOSES ONLY. IF A READER CONSIDERS THEY MAY REQUIRE ADVICE RE THEIR INDIVIDUAL CIRCUMSTANCES, IT IS ADVISED THAT THEY CONSULT WITH A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Setting-Up Your Own Biz? Review Your Loan Options](https://www.jadecarloans.com.au/blog/setting-up-your-own-biz-review-your-loan-options) **Published:** January 22, 2021 **Author:** Publisher **Content:** 2020 presented plenty of challenges but equally many opportunities. 2021 could be the year to capitalise on opportunities, crystallise and realise those aspirations and make the move to set up your own business. [Starting a new business](https://www.sba.gov/business-guide/10-steps-start-your-business "Embarking on a Fresh Business Venture") is an exciting prospect. But your enthusiasm, passion and initiative may also require a finance partner to assist in making your aspirations a reality. Many banks and lenders place strict guidelines on [business car loans](/business-car-finance "Explore Financing Solutions for Business Vehicles") for new businesses. Most stipulate at least 12 months in operation sometimes 18 to 24 months to be eligible. If that vehicle is an integral part of your business, if you need that delivery van, ute or work vehicle of any kind to carry out your work you may face a dilemma in moving forward. Jade Car Loans assists new business set-ups with our ABN-only and [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Explore Financing Solutions for Business Vehicles"). This category of loan is available predominantly through our non-bank lenders and while the loans do carry additional conditions to standard car loans, they can be cost-effective and workable solutions. ## New Business Loan Options If you are starting a new business and do not qualify for the standard car loan, you may be eligible for:- - [ABN Car Loans](/abn-car-loan "Discover Loans Tailored for ABN Holders") - Low Docs Car Loan - No Docs Car Loan As the titles imply, these loans are structured for businesses that do not have all the documents or who do not meet all the standard criteria for business vehicle finance. By ‘docs’ we mean financial documentation such as business tax returns, [BAS statements](https://www.ato.gov.au/business/business-activity-statements-(bas)/ "Access Resources for Business Activity Statements"), annual business accounts and other similar records. For example, to have lodged a business tax return you will have needed to be trading before June 30 2020. If you’ve started a business since that time, you would not have needed to submit a tax return as yet. ## Eligibility and Conditions The differences between ABN, Low Docs and No Docs loans essentially relate to the amount of docs that you have to support your car finance application. In simple terms, the more docs the more favourable the loan conditions may be. Also the better your [credit profile](https://www.equifax.com.au/personal/ "Explore Your Financial Credit History") the better the finance deal. - An ABN is essential as is identification. - You don’t have to be registered for GST but it can be viewed as more favourable by some lenders. If you are registered by GST and have submitted BAS statements, they are considered as docs. - Even simply prepared profit/loss, income/expenditure records can be submitted with your application. They don’t necessarily have to be accounts prepared by an accountant but simple spreadsheets supported with bank statements may assist. - A good credit profile is very important. If you haven’t reviewed your credit rating and history recently, it may be time to do that now. A copy of yours can be attained from several credit reporting agencies and details of how you can ‘fix’ or ‘repair’ any issues with your report are available online. Addressing any issues before applying for a loan can be an astute move. - Loans in these categories can be approved based on the interest rates available on fully documented loans but with additional conditions applied to the loan. You can review the interest rates on different loan types on our compare interest rate chart. - Conditions may apply around additional security. With the loans offered by Jade, the vehicle is used as security against the finance extended. However, some lenders will require additional security. This may be in the form of other property owned by the business or business directors personally. - Conditions may be attached to the total amount of the loan. Some lenders may request the total amount be reduced. - To be eligible for business finance, the vehicle must be purchased for use in the business. Not solely for private use. If approved for these categories of finance, the full choice of commercial loan products is available for your vehicle purchase. These include Chattel Mortgage, Leasing and [Car Hire Purchase](/commercial-hire-purchase "Discover Vehicle Purchase Financing"). Each finance product has tax benefits derived in varying ways and presents varying benefits depending on the structure of the business. It is advised to refer to your accountant regarding the choice of loan type. ## Types of Vehicles When approved for a Low Docs, No Docs or ABN car loan, this loan can be used to purchase a wide range of business vehicles: sedans, hatches, SUVs, utes, delivery vans and many others. ## How to Apply You can apply for an ABN or Low Docs car loan with Jade either online or over the phone. If you are unsure of if you will be approved or how much you may be approved for, it can be useful to discuss pre-approved car finance. Your Jade consultant will source you a quote based on a rough idea of the vehicle you intend to buy and an estimate of the price. If your application is approved, you will then receive an amount that you have been approved for and can proceed to purchase. This can be extremely helpful for new businesses to plan and prepare ahead of time for major acquisitions. Your Jade consultant will be on hand and available to you to assist with all stages and steps in the finance process to save you hassle and worry and deliver you a workable car finance solution. **To discuss your new business loan options contact Jade Car Loans at 1300 000 003** *DISCLAIMER: NO LIABILITY IS ACCEPTED FOR MISINTERPRETATION, MISREPRESENTATIONS OR ERRORS IN THE INFORMATION AND PRODUCT DETAILS INCLUDED IN THIS ARTICLE AS SOURCED THROUGH OTHER ORGANISATIONS AND MANUFACTURERS. THE INFORMATION PROVIDED IN THIS ARTICLE IS NOT PRESENTED FOR OR INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION IN REGARD TO A FINANCIAL DECISION. IT IS FOR GENERAL INFORMATIVE PURPOSES ONLY. IF A READER CONSIDERS THEY MAY REQUIRE ADVICE RE THEIR INDIVIDUAL CIRCUMSTANCES, IT IS ADVISED THAT THEY CONSULT WITH A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Comparison Calculator Assists Car Buyers](https://www.jadecarloans.com.au/blog/comparison-calculator-assists-car-buyers) **Published:** January 25, 2021 **Author:** Publisher **Content:** When it’s time to buy a new car, buyers have many decisions to make and many come back to affordability. Initially, the decisions are all about which car to buy. Comparing one make to another, one model to another. Checking out the features while trying not to be ‘persuaded’ by the salesperson’s spin. Some buy from the heart and for others, it’s totally from the head. Once a vehicle is selected it comes to finance. You can easily find the purchase price of the car and some dealers and manufacturers that offer their finance also include a ‘from $XX per week’ in their advertisements. It can take a lot of time to browse a multitude of bank and lender sites just to get the interest rate they are offering on [new business car loans](/new-car-finance "Explore Financing Options for Startup Vehicle Purchases"). But the critical issue is being able to convert interest rates into monthly repayments which are a lot more relatable for most people. For business buyers, the task is further complicated by the choice of finance products with different interest rates. Wouldn’t it be the ideal scenario to be able to do all that quietly and calmly, in your own space and in your own time? We’ve recently added two new calculator functions to our resources which fit that bill exactly – self-serve, use from wherever you can connect to the internet and their available 24/7. As major lenders in the motor vehicle sector, we understand and appreciate the needs of our customers and we respond with [cheap car loans](/ "Discover Affordable Auto Financing Solutions") and useful tools to assist in the buying process. Consumer car loans and [business vehicle finance](/business-car-finance "Unlock Funding Solutions for Commercial Vehicles") differ on several counts including having different interest rates and different types of loan structures. We’ve addressed both with two separate interest rate comparison calculators. We’ll take you through how they work and how you can make each one work for you. ## Consumer Car Loans – Lender Comparison Calculator Our consumer [business car loan calculator](/car-finance-calculator "Utilise a Tool for Calculating Business Auto Loan Costs") allows you to compare what a select group of banks and lenders are currently offering on their consumer car loans. You’ll find it on the home page of our website. The calculator is set out in a table format with the name of the lender, the name of their car loan product and columns for their advertised interest rate and comparison rate on offer. The end column displays the monthly repayment estimate based on each of those rates. At the top of the table, you’ll see a place to enter the loan amount you want to borrow and the loan term you would like to repay the loan. Most consumer car loans are for 4 or 5 years. Simply enter the details of your car purchase and the auto-calculate function immediately displays the repayment. Yes, just like that. No need to make a myriad of phone calls or emails to request a range of quotes to source the cheapest. Of course, that is the role of your Jade consultant to do on your behalf when sourcing your loan quote. But this allows you to compare different priced cars quickly and easily. The results calculated are only estimates and we direct you to the disclaimer so you are fully aware of the functionality of this device. The Jade lender comparison calculator is a big assistance to car buyers: – - Free to use. - Free of obligation – if you don’t want to proceed with requesting a quote, that’s fine. - Available 24/7 from devices with an internet connection. - Use for as many car prices as you would like to compare. If you’re happy with the repayment amounts that correspond to Jade’s cheap interest rates, simply click on the REQUEST A QUOTE button for a firm quote on your specific purchase. ## Business Vehicle Finance – Interest Rate Calculator The assist for business buyers is slightly different as the interest rates vary across the business finance products – [car loans for sole traders](/car-chattel-mortgage "Explore Vehicle Financing Options for Independent Entrepreneurs"), [Car Hire Purchase ](/commercial-hire-purchase "Discover Vehicle Purchase Financing Solutions")and Leasing. Source our advertised interest rate and head to our finance calculator or interest rate calculator. Enter details of your purchase, the interest rate for that loan product and any balloon you may choose and see the results. ## Loan Calculator Option This new lender comparison calculator allows private buyers to compare what different lenders are offering. But we also offer our car loan calculator which can be a great assistance when planning your loan structure. Possibly deciding if you will request [no deposit car finance](/no-deposit-car-finance "Explore Zero Deposit Car Financing Options") or pay an amount upfront to reduce the overall loan amount and to compare different priced cars. Simply enter the details of your car purchase and the interest rate we are currently offering to see an estimated repayment displayed. We are continuing to build up our car buyer assistance resources with our calculators and our news and tips articles so stay connected with us and check back for more information. If you’re now ready to buy, just apply online or over the phone and we’ll handle the entire car finance deal for you. **To discuss your car finance requirements call Jade Car Loans at 1300 000 003** DISCLAIMER: INFORMATION, CONTENT, DATA, REFERENCES AND HINTS CONTAINED IN THIS ARTICLE ARE INTENDED PURELY FOR GENERAL INFORMATION AND NO LIABILITY *FOR ERRORS OR SIMILAR IS ACCEPTED. THE INFORMATION IS NOT INTENDED TO FORM THE SOLE BASIS FOR FINANCIAL DECISIONS. ANY READER CONSIDERS THAT MAY REQUIRE ADVICE ON THEIR PERSONAL OR BUSINESS FINANCIAL SITUATION, THEY ARE ADVISED TO SEEK THE PROFESSIONAL ASSISTANCE OF A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Dealer or Broker? Know Your Lender Options](https://www.jadecarloans.com.au/blog/dealer-or-broker-know-your-lender-options) **Published:** January 29, 2021 **Author:** Publisher **Content:** When buying a car, many customers are offered finance by the dealer. This is extremely prevalent across both the new and used car market. Some dealers have an arrangement with a finance company or partnership with a finance broker lender similar to [Jade Car Loans](/ "Discover Jade's Auto Financing Services"). Others utilise the finance arrangements of the motor vehicle manufacturer that they represent. To many buyers this scenario may appear as convenient, a ‘no brainer’ and a real time saver. But is it a cost saver? We do a deep dive into motor dealers or finance brokers when it comes to choosing your car finance lender. ## Role Definition On the surface or from a one dimensional point of view, both the dealer and finance broker lender like Jade Car Loans may appear to be providing a similar service or role in regard to car loans. That is connecting you with a bank or lender. But that is not the reality. The roles of motor vehicle dealers and [car finance brokers](/car-finance-broker "Connect with Experts in Auto Financing Services") are very different. The dealer essentially refers you to their finance company or they may have application forms for that finance company for you to complete on the spot or they may give their finance company your details to contact you to sort the finance. The finance broker lender, Jade Car Loans specifically, actually sources you a [low business car finance rate](/car-finance-interest-rates "Explore Competitive Rates for Business Vehicle Financing") from across a large number of lenders and represents you to the lenders. We’ll go further by highlighting several issues. ## Choice of Lender In most instances, the dealer will only be associated with the one finance company or lender. You don’t have a choice. They have an arrangement with either the manufacturer’s finance arm or a particular company. Jade on the other hand provides you with a large number of choices by our accreditation with multiple banks and lenders. We don’t limit your choice of lender. We source you the cheapest deal that suits your requirements. By referring to our Lender Comparison Calculator, you can immediately see the variation in interest rates charged by different banks and lenders. That variation can end up being a significant difference in the total cost of your car loan over the loan term. In addition, if you have a specific reason for wanting your bank to finance your car, your Jade consultant will be quite happy to handle the negotiations and arrangements with your bank on your behalf. ## Loan Terms and Conditions Some dealers advertise car loans as a ‘from $xx per week’ so customers can easily relate to the interest rate of cost of the finance. That is a great assistance and one that we readily provide with our calculators. Simply enter the data for your car loan into our Lender Comparison Calculator or our [Business Car Loan Calculator](/car-finance-calculator) and you’ll receive a repayment estimate. Back to the dealer – they could be offering only a standard car loan for about a set number of years of loan term with no option to negotiate. Negotiate with the finance company? Is the motor vehicle dealer ready to do that for you? Probably not. Their role is to refer you to the finance company or recommend their finance company to you, whichever way you want to look at it. Unless the motor vehicle dealer is partnered with a professional finance broker with credentials and capabilities similar to those of Jade Car Loans. Loan conditions can be currency. The better the loan conditions you can achieve that meet your requirements, essentially the better the loan. Your Jade consultant negotiates with individual lenders to achieve the [best business car loan](/business-car-finance "Access a Tool for Business Auto Loan Calculations") terms and conditions that you prefer. ## The Cost of Convenience The perceived biggest benefit to car buyers of being able to arrange finance at the same time as buying a car is convenience. Let’s face it, not everyone takes out a finance contract regularly. For some car buyers, it may have been several years, back at the time of their last car purchase, since they were involved with the lending scene. Not being up to speed with what’s on offer, it’s not surprising that they may see this offer as convenient. It’s also convenient for the dealer as they do not want to risk losing you as a customer and the car sale by you leaving to arrange your finances elsewhere. They may also be receiving a commission or some other rebate for referring you. A dollar amount may be built into the cost of your loan. The reality is if this is a consumer car loan, the dealer’s finance connection must still abide by the [consumer credit laws](https://www.legislation.gov.au/Details/C2019C00053 "Understanding Regulations on Consumer Credit Laws") when offering and processing a car loan application. The same processes that Jade and even your bank must follow must be adhered to. So the only time-saving may end up being only the minute or two that it takes you to call Jade. Jade Car Loans offers a prompt and streamlined car loan process, which we consider more than matches the perceived convenience of signing on the spot. - Our online calculators and lender comparison tools allow you to generate repayment estimates on your phone even while you’re at the car dealership. - Our quick quote service can provide you with a car loan quote promptly after sourcing you the cheapest interest rate offer. - By handling all the negotiations and paperwork for you, we save you time and a lot of hassle. - Our consultants are highly trained, finance industry professionals with the skills and knowledge to source you a car loan that meets your requirements. Most importantly, your Jade Car Loans consultant is working for YOU. Our only focus is your best interests. So when it comes to the very important issue of signing up for car finance, it’s in your best interest to set aside perceived convenience and similar benefits and look closely at the offer and know your lender! **To discuss your car finance requirements contact Jade Car Loans at 1300 000 003** DISCLAIMER: INFORMATION, CONTENT, DATA, REFERENCES AND HINTS CONTAINED IN THIS ARTICLE ARE INTENDED PURELY FOR GENERAL INFORMATION AND NO LIABILITY *FOR ERRORS OR SIMILAR IS ACCEPTED. THE INFORMATION IS NOT INTENDED TO FORM THE SOLE BASIS FOR FINANCIAL DECISIONS. ANY READER CONSIDERS THAT MAY REQUIRE ADVICE ON THEIR PERSONAL OR BUSINESS FINANCIAL SITUATION, THEY ARE ADVISED TO SEEK THE PROFESSIONAL ASSISTANCE OF A FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [ATO Matching Car Sales Data: Tax Compliance](https://www.jadecarloans.com.au/blog/ato-matching-car-sales-data-tax-compliance) **Published:** February 1, 2021 **Author:** Publisher **Content:** If you have purchased a vehicle for business or private use in the past few years or are planning to do so in the next few years, you may be interested in a policy notice that was recently issued by the [Australian Taxation Office (ATO)](https://www.ato.gov.au/ "Visit the Official Website of the ATO in Australia"). The notice states the intention of the ATO to continue the data matching program for motor vehicles. The ATO accesses data from the states regarding motor vehicle sales and purchases and cross-checks that against their taxation records. The program assists the ATO in their tax compliance operations for both business taxpayers and individuals. While [Jade Car Loans](/) updates and informs customers of tax measures such as [Instant Asset Write-Off](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/) and the tax benefits of the finance products we offer, the role of advising on individual tax issues is for tax agents and accountants. If this ATO policy notice affects you, you should refer to your tax advisor. Through the data on car regos, purchases and sales, the ATO program enables the authority to identify ‘taxpayers of interest’. Tax rulings applying to motor vehicles include GST, [fringe benefits tax](https://www.ato.gov.au/general/fringe-benefits-tax-(fbt)/), IAWO, tax deductions in general, [luxury vehicle tax](https://www.ato.gov.au/business/luxury-car-tax/), fuel rebates and other schemes. ## ATO Vehicle Data Match Program The policy notice was recently released but it pertains to an ongoing program that the ATO has been operating in one form or another for the past 16 years. In the recent notice, the ATO is outlining its intentions to continue the data matching programme for 2019/20 through to the 2021/22 financial years. The program involves the ATO collecting car rego data from the state motor and road departments and authorities. The authorities provide the ATO with details of vehicle sales/purchases and registrations which the ATO can then match against their taxpayer records. According to the ATO statement, the program intends to identify both businesses and individuals that are complying with their obligations regarding lodgement, payment and reporting according to the relevant tax rulings. In addition, through this data, the ATO can identify undeclared income. If data reveals a taxpayer purchased a very high priced vehicle but only declared a very small income, this would be of interest to the ATO. In official terms, vehicle purchases are not ‘commensurate with reported income’. The ATO has also stated the importance of the program in identifying the black economy. For businesses, the ATO would be looking at lodgement and payment of BAS and the correct claiming of GST and input tax credits regarding their vehicles, fringe benefits and other issues. The ATO will also be using the data to look closely at the use of the IAWO and other tax measures. The program involves data collection for new vehicle registrations and transfers of rego for vehicles with a price or market value exceeding $10,000. ## Collection of Data The program of data collection involves the ATO working with the state and territory motor authorities that hold details of motor vehicle sales and registrations. Details on the seller, purchaser, vehicle dealer, fleet manager, leasing company and entity/person registering the car are collected. Specific details include name, address, contact details, DOB, ABN/CAN around the individuals and businesses. Details about the transaction itself are also collected. This includes date and type, vehicle price and market value, business or private use, dealer’s licence, stamp duty and receipt. Details around the vehicle are also collected. This includes the make, year, model, VIN, gross and tare weight, engine capacity and registration number. ## Tax and Motor Vehicles When purchasing a vehicle for business use, Jade offers a complete portfolio of [business car finance](/business-car-finance "Explore Financing Solutions for Business Vehicles") products to suit a wide range of business structures, sizes and types. These products include [sole trader car finance](/car-chattel-mortgage "Discover Vehicle Financing Options for Sole Traders"), Leasing, Commercial Hire Purchase and [Novated Car Lease with Salary Sacrificing](/novated-car-leasing-and-salary-sacrificing "Explore the Benefits of Salary Sacrifice Novated Car Leasing"). Each of these facilities includes tax compliance elements by way of tax deductions and GST obligations. We outline these in detail on our web pages and advise customers to refer to their own accountant or financial advisor in selecting the finance product for their purchase. As an overview, with car leasing, the monthly payments are treated as a tax deductible expense while those purchasing with a Chattel Mortgage claim a tax benefit on business vehicles through depreciation of the vehicle as a business asset in line with ATO rulings. GST applies to vehicle purchases. Business buyers who are registered for GST can claim the GST on the relevant BAS statement in line with the relevant rulings applying to each finance type. If purchasing a vehicle for private use with a [Jade Secured Car Loan](/secured-car-loans "Discover the Jade Secured Auto Financing Option"), a tax benefit is not identified in this type of loan or purchase. If a private buyer does use their vehicle for work purposes and is seeking a tax deduction or compensation that would be an employer-employee issue and/or a discussion to be had with your tax agent. ## Reference Resources For full details on the recent ATO policy notice head to https://www.ato.gov.au/General/Gen/Motor-vehicle-registries—2013-14-to-2021-22-financial-years-data-matching-program-protocol/ and for advice on your taxation obligations regarding your specific business or vehicle purchase, refer to your accountant. **To discuss your car finance requirements call Jade Car Loans at 1300 000 003** DISCLAIMER: THE DATA, POLICIES, INFORMATION, CONTENT AND REFERENCES AS PRESENTED IN THIS ARTICLE ARE FOR GENERAL PURPOSES ONLY AND ARE *SOURCED FROM RELIABLE SOURCES BUT NO LIABILITY IS ACCEPTED SHOULD THERE BE ERRORS OR MISREPRESENTATIONS OF DETAILS IN THE CONTENT. THIS INFORMATION IS NOT INTENDED AS THE SOLE PURPOSE OF MAKING FINANCIAL DECISIONS. READERS SHOULD REFER TO A FINANCIAL ADVISOR OR ACCOUNTANT IN THE EVENT THAT THEY REQUIRE PROFESSIONAL GUIDANCE AND CONSULTATION ON THEIR INDIVIDUAL FINANCIAL POSITION.* **Categories:** Uncategorised --- ### [What sold best in Light Commercial Vans in 2020?](https://www.jadecarloans.com.au/blog/what-sold-best-in-light-commercial-vans-in-2020) **Published:** February 5, 2021 **Author:** Publisher **Content:** If you’re on the verge of making that all-important new commercial van purchase, then we have some data to share and possibly assist you with deciding which particular make and model to purchase. Knowing what the best-selling vans were in the past year is not only interesting, but can reveal which makes and models have the features that attract buyers like you. Possibly what your competitors are driving. 2020 was a strange year due to the coronavirus pandemic. Some van owners in the general delivery sector saw a spike in business as consumers were forced to greater online purchases due to lockdowns. Some businesses pivoted to doing their own deliveries and that in many cases that meant the purchase of a new van. But how did the COVID-19 scenario actually play out in the sales data? We reveal the stats and the top six best-selling vans for 2020 based on industry sources. ## 2020 Sales Data The sales data reveals some stark contrasts. Overall the 2020 light duty van segment sales were down 1.2% on the 2019 figures. But in December there was a significant uplift of 15.5% compared with sales in the category in the same month in 2019. This may reflect business confidence as the economy generally showed good signs of recovery and consumer confidence figures towards the end of the 2020 were also on the rise. Online sales in particular were on the increase and the light commercial van can be an ideal vehicle for general urban deliveries for many retailers. ## Top Sellers for 2020 Now let’s drill down into the stats for the individual makes with the top rankings. 1. [Mercedes-Benz came in at top seller overall for 2020 again, with the Sprinter model](https://www.mercedes-benz.com.au/vans/en/sprinter/panel-van). But despite selling the most units overall, their sales numbers were down just over 20% compared with their 20219 sales. 2. [Renault came in at second place with the Master](http://www.renault.com.au/vehicles/master-van/) clearly showing its popularity. Not only did the brand finish in an impressive position it also showed nearly a 10% increase on its overall sales compared with 2019. 3. [Volkswagen with its new Crafter jumped into third position](https://www.volkswagen.com.au/en/models/crafter-van.html) overall and what an impressive showing. A third place but with a 51.2% increase in sales numbers over their 2019 results. The largest percentage increase in the top 6 makes. Yes, could be worth checking out the features of the VW Crafter to find out why there has been such an increase in demand for this vehicle. 4. [Ford Transit was relegated to fourth](https://www.ford.com.au/commercial/transit/) as a result of the VW Crafter’s sales growth. While down a slot based on 2019 rankings, the Transit also posted an impressive growth in sales. Up 23.3% in total of 2020 sales compared with 2019. Clearly still a favourite with buyers in the classic humble van stakes. 5. [Fiat](https://www.fiat.com.au/) was in fifth place overall in units sold but on a totally different sales trajectory compared with the two makes above it in the rankings. Compared with 2019, Fiat had a 28% drop in units sold for 2020. 6. [IVECO](https://www.iveco.com.au/) rounded out the top 6 selling van makes but with an 11% drop in sales compared with their 2019 performance. IVECO dominated again in the truck categories and took out overall top spot when all truck categories are accounted for. But their dominance in the light segment is not so impressive. ## Securing a Top Selling Van In addition to the top 6 sellers, the light commercial van market has many other great makes and models which could be worth adding to your consideration list. For starters, check out: - [Hyundai iLoad](https://www.hyundai.com/au/en/cars/people-movers-and-commercial/iload) - [Peuge](https://www.peugeot.com.au/peugeot-professional/commercial-vans/)[o](https://www.peugeot.com.au/peugeot-professional/commercial-vans/)[t Expert, Partner and Boxer](https://www.peugeot.com.au/peugeot-professional/commercial-vans/) - [Toyota HiAce Van](https://www.toyota.com.au/hiace) Most manufacturer websites advertise guide pricing which offers a great starting point for buyers to compare both features and price across multiple makes and models. [Jade Car Loans](/ "Explore Jade Car Loan Options") then steps in with the added assist – our [best business car finance calculator](/car-finance-calculator "Utilize the Top Business Car Finance Calculator"). This handy self-serve device allows you to convert the manufacturer’s pricing into possible estimate repayments on your Jade car finance. The calculator can be used to estimate repayments for [car loans for sole traders](/car-chattel-mortgage "Explore Vehicle Financing Options for Independent Entrepreneurs"), Leasing and CHP finance. The device has the option to include a balloon/residual loan component to plan how you might like to structure your finance. The interest rate on each finance product varies so refer to our interest rate chart or give us a quick call for our current low interest rates for commercial van loans. We offer no deposit finance across our loan portfolio so you can include 100% of the purchase price plus dealer charges and on road costs in your finance package. Prior to heading into a dealership, speak with Jade about a [pre-approved business car loan](/business-car-finance "Discover Pre-Approved Financing for Business Vehicles") deal. By having your loan organised and confirmed, you can expedite the purchase process and be on the road and working in your new van faster. **To discuss finance on a new commercial van, contact Jade Car Loans 1300 000 003** *DISCLAIMER:* THE DATA, POLICIES, INFORMATION, CONTENT AND REFERENCES AS PRESENTED IN THIS ARTICLE ARE FOR GENERAL PURPOSES ONLY, ARE *SOURCED FROM RELIABLE SOURCES BUT NO LIABILITY IS ACCEPTED SHOULD THERE BE ERRORS OR MISREPRESENTATIONS OF DETAILS IN THE CONTENT. THIS INFORMATION IS NOT INTENDED AS THE SOLE PURPOSE OF MAKING FINANCIAL DECISIONS. READERS SHOULD REFER TO A FINANCIAL ADVISOR OR ACCOUNTANT IN THE EVENT THAT THEY REQUIRE PROFESSIONAL GUIDANCE AND CONSULTATION ON THEIR INDIVIDUAL FINANCIAL POSITION.* **Categories:** Uncategorised --- ### [Lending Update and Alerts: February 2021](https://www.jadecarloans.com.au/blog/lending-update-and-alerts-february-2021) **Published:** February 8, 2021 **Author:** Publisher **Content:** February is traditionally the unofficial start of the business year following the summer holiday season. In some states, February 2021 will have an even greater ‘return to work’ impact as many return not only from holidays but also from working from home through most of 2020. For both individuals and businesses looking to plan car purchases, we bring you an update on the latest news that affects the motor vehicle lending market. ## Interest Rates We’ll start with the key issue that most car buyers focus on – interest rates. Interest rates are currently still at the historic low levels that they reached in 2020. At the monthly board meeting in February, the [RBA board](https://www.rba.gov.au/about-rba/boards/rba-board.html "Explore RBA board") kept interest rates on hold at the existing levels. In his address to the [National Press Club](https://www.npc.org.au/ "Look into National Press Club") in the first week of the month, RBA Governor Dr Philip Lowe reiterated comments he has made in the past, that the board had ‘no appetite to take interest rates interest rates into negative territory’. For those planning a car purchase and finance now or shortly, that will certainly be good news. Based on the current interest rate environment, [Jade Car Loans](/ "Explore the Jade Car Loans") continues to offer extremely low rates across our motor vehicle finance portfolio. This applies to both personal Secured Car Loans and our [business car finance](/business-car-finance "Discover Financing Solutions for Business Vehicles") products – Chattel Mortgage, Leasing, CHP and Novated Car Leasing with Salary Sacrificing. At Jade, we arrange all these car loan products at a fixed interest rate. So if you take on car finance now, you’re low rate will be locked in and not change over the next 4 or 5 years, the term of your loan. While talking finance products, with wage growth slow but interest rates low, both employees and employers may like to consider a [Novated Car Lease with Salary Sacrifice](/novated-car-leasing-and-salary-sacrificing "Unlock the Benefits of Salary Sacrifice Novated Car Leasing") as a means of delivering a benefit to a staff member without actually increasing wages. Head to our dedicated webpage for details of how this finance product works to benefit both employer and employee or give us a call and one of our consultants will explain the workings to you. ## Changes to Lender Deferral Arrangements As the full impact of the COVID-19 pandemic began to be realised early in 2020, the Federal Government provided support to the banking sector to enable banks and lenders to assist borrowers with loan deferrals. Many banks and lenders have provided support to their customers through deferring repayments on many loan types under varying arrangements. We have been advised by at least some of our lenders that due to the roll-back of the government support measures, as of 31 March 2021, these loan deferral arrangements will be changing. If you have a loan deferral arrangement in place with your lender, then it would be wise to contact the lender and discuss plans moving forward. In general, it appears that banks in particular will no longer be offering new loan repayment deferral arrangements. As of 31 January, banks started working with their customers who requested financial hardship support. In place of the previous loan deferral arrangements, lenders are tending towards establishing a more long-term and sustainable solution for their customers. All this comes as [JobKeeper](https://www.ato.gov.au/general/jobkeeper-payment/) is due to conclude at the end of March 2021. For those businesses that have been receiving this support and have existing motor vehicle finance commitments, it will no doubt be a time for planning to ensure you can meet existing loans or start discussions with your lender. ## Motor Vehicle Lending Regarding motor vehicle lending specifically, at Jade Car Loans we are continuing with our existing loan portfolio and with our extensive lending panel of banks and non-bank lenders the outlook is positive. Many vehicle manufacturers are already announcing new model releases for 2021 which is always a good sign. Eligible businesses can also consider the Instant Asset Write-Off as a measure that is in place until June 2022 along with the temporary full expensing. Both measures may include business vehicles as eligible assets for depreciation. However as mentioned in an earlier article, the ATO is scrutinising vehicle registrations across all states and territories to match against their tax records to check compliance. Both businesses and individuals should be alert and if in doubt of your taxation and regulatory obligations regarding your [new commercial car finance](/new-car-finance "Explore Fresh Options for Commercial Vehicle Financing"), consult with an accountant, tax agent or financial advisor. ## Securing Motor Vehicle Finance Jade continues to embrace digital technology to further simplify and streamline our car finance service. We’ve recently added our lender interest rate comparison tool to our [business car repayment calculator](/car-finance-calculator "Utilise a Calculator for Business Car Loan Repayments") to assist customers in doing much of the ‘behind the scenes’ and pre-purchase planning in their own time. With some exciting new models set to hit our shores and with interest rates low, 2021 could be the year to consider upgrading your private car or your business fleet. Our team is staying across the car scene and the lending environment and will be bringing you further information each week. **Why not upgrade your vehicle now? Talk to Jade Car Loans 1300 000 003 about your requirements.** *DISCLAIMER: THE INFORMATION PRESENTED IN THIS ARTICLE IS NOT INTENDED AS THE SOLE BASIS FOR INDIVIDUALS TO MAKE FINANCIAL DECISIONS. THOSE THAT REQUIRE ADVICE OR GUIDANCE IN REGARD TO THEIR FINANCIAL DECISIONS SHOULD CONSULT WITH AN ACCOUNTANT OR FINANCIAL ADVISOR. THE INFORMATION AS DETAILED IS BASED ON DATA, SPECS AND REFERENCES AS SOURCED FROM A RANGE OF SOURCES AND LIABILITY IS NOT ACCEPTED FOR MISINTERPRETATIONS, MISREPRESENTATIONS OR ANY ERRORS IN THE CONTENT. THIS ARTICLE IS FOR GENERAL INFORMATIVE PURPOSES ONLY.* **Categories:** Uncategorised --- ### [Jeep Gladiator Ute - Another Contender in the Arena](https://www.jadecarloans.com.au/blog/jeep-gladiator-ute-another-contender-in-the-arena) **Published:** February 12, 2021 **Author:** Publisher **Content:** The ute or cab chassis category is one of, if not THE hottest sector of the motor vehicle market. What in a previous era was a simple workhorse to handle the Monday to Friday grind is now an all-round vehicle that not only takes on the tough tasks but also handle the weekend leisure pursuits. Vehicle manufacturers have continued to upgrade, up-spec, up-power and up the stakes overall in the ute category to capture their share of the sales. While [Toyota](https://www.toyota.com.au/) and [Ford](https://www.ford.com.au/) have tended to dominate historically, they are being challenged seriously by [Mazda with the BT-50](https://www.mazda.com.au/build/bt-50/?step=1&modelCode=B30BADPXT2&colorCode=47H&interiorDesignCode=ZEW), [Mitsubishi Triton](https://www.mitsubishi-motors.com.au/vehicles/triton.html), [Nissan Navara](https://www.nissan.com.au/vehicles/browse-range/navara.html) and [VW Amarok](https://www.volkswagen.com.au/en/models/amarok.html) amongst others. At the extreme ends of the market in more specialist niches, LDV and Great Wall compete on price point while RAM Trucks compete on size and impact. But another contender is also in the arena – the Jeep Gladiator Ute. Is a contender worth considering? We outline the creds and specs. ## Jeep Gladiator Overview [Jeep](https://www.jeep.com.au/) has a rep for toughness going back decades and the latest generations continue the tradition but with many features that will appeal to the contemporary ute buyer. The look and appearance are quite distinct from many others in the market. Retaining the square lines and shape which is synonymous with the brand rather than the more rounded and smooth styling of some of its competitors. While the exterior may appear all ready to work, the interior has been spiced up to meet the style, comfort and tech demands of today’s ute buyer. The [Jeep Gladiator Ute](https://www.jeep.com.au/gladiator.html) is available in two models – the Rubicon and the Overland. The company defines the vehicle as having the capabilities of a truck but with the iconic design that has made the name synonymous with adventure. This is a true 4×4 and is described in many senses as a truck with impressive capabilities that make this a reality. Whether you’re planning to tow a generator or trailer loading with equipment to the job site or your boat, caravan or dirt bikes to the adventure site, the 2,721 kg max braked towing capacity should be up to the job. Engine-wise we’re talking a 3.6 litre V6 with 8 speed auto transmission. The cargo bed is manufactured from all steel and has a payload of 620 kg – enough for most tradie tools and equipment and a bike or other sporting equipment. These vehicles have special Jeep ratings which means they have undergone testing on the toughest terrain. So regardless of where you need to be, your Gladiator should have the capability to get you there. And get you there with a raft of safety features. Plus of course, the tech that is expected from most new vehicles to keep drivers and passengers connected and entertained. Comfort is not compromised either with an inviting interior with comfortable seating and an impressive dash set-up. With 9 colour options, buyers have a wide selection to truly individualise their Gladiator to suit their style and approach to life and work. ## Finance Options for a Jeep Ute Talking of choices, now it’s time to talk finance. [Jade Car Loans](/ "Explore Jade Car Loans") offers a full portfolio of choices when it comes to loans to purchase a Jeep Gladiator Ute. Whether you’re buying for work or purely for a private adventure. For private buyers seeking a full-on, 4×4 adventure machine, the [Secured Car Loan](/secured-car-loans "Learn About Secured Auto Financing") will likely be your loan choice. Through Jade, this loan offers you a fixed, cheap interest rate loan which means fixed repayments over the fixed loan term. So there’s no need to interrupt your adventure seeking trips by addressing and reviewing your car loan. Once locked in at our cheap rates, it’s fixed for the loan term. For business buyers seeking a genuine warhorse-now-workhorse, Jade provides you with the choice of Chattel Mortgage, Leasing or [Car Hire Purchase](/commercial-hire-purchase "Discover Vehicle Purchase Financing Solutions"). For those meeting the criteria, IAWO is still in play and your Jeep Gladiator may be eligible. If that’s your plan, then a Chattel Mortgage would be the most suitable finance product. But that’s a discussion you need to have with your accountant. The role of your Jade consultant is to source and arrange the finance not advise you on aspects of your business taxation matters. All [business car loan](/business-car-finance "Explore Financing Solutions for Business Vehicles") products do deliver a tax benefit but in varying ways so it is an important step to consider which loan will work best for your business. Price-wise, the Jeep Gladiator is, as you would probably expect, in the upper bracket for the ute category. That means buyers will be super keen to achieve the [cheapest business car finance rates](/car-finance-interest-rates "Find the Most Affordable Business Car Financing Rates") on their new vehicle. The interest rate on our motor vehicle loan products varies across our portfolio due to the nature of each loan structure. That is standard across the industry. Refer to our lender interest rate comparison and enter the estimated price of the Jeep you’re interested in to receive a rough repayment estimate. Or go that one step further straight away, be bold and just give us a call for a quote or even a pre-approved loan. At our cheap interest rates, you could be entering your adventure arena in your Jeep Gladiator ASAP. **To discuss your finance options for a Jeep Gladiator, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE INFORMATION PRESENTED IN THIS ARTICLE IS NOT INTENDED AS THE SOLE BASIS FOR INDIVIDUALS TO MAKE FINANCIAL DECISIONS. THOSE THAT REQUIRE ADVICE OR GUIDANCE IN REGARD TO THEIR FINANCIAL DECISIONS SHOULD CONSULT WITH AN ACCOUNTANT OR FINANCIAL ADVISOR. THE INFORMATION AS DETAILED IS BASED ON DATA, SPECS AND REFERENCES AS SOURCED FROM A RANGE OF SOURCES AND LIABILITY IS NOT ACCEPTED FOR MISINTERPRETATIONS, MISREPRESENTATIONS OR ANY ERRORS IN THE CONTENT. THIS ARTICLE IS FOR GENERAL INFORMATIVE PURPOSES ONLY.* **Categories:** Uncategorised --- ### [Car Finance: Acing a New Kia Deal](https://www.jadecarloans.com.au/blog/car-finance-acing-a-new-kia-deal) **Published:** February 15, 2021 **Author:** Publisher **Content:** If you were watching the [2021 Australian Open tennis tournament](https://ausopen.com/) then you probably couldn’t help but note that Kia is the major tournament sponsor. The company’s on-screen promos received extensive coverage between the on court action. With travel restrictions, [border closures](https://interstatequarantine.org.au/state-and-territory-border-closures/) the tournament sponsors possibly received more exposure than usual. With crowd numbers limited and non-existent for several days, spectators had to settle for watching on their screens. In past years, [the brand featured Rafael Nadal as ambassador](https://www.kia.com/au/discover-kia/sponsorship/rafael-nadal.html). But if you were a keen watcher of the AO 2021, you’d have noticed [Nick Kyrg](https://twitter.com/NickKyrgios)[ios](https://twitter.com/NickKyrgios) now fronting the brand. The change of face and style of commercials bringing quite a different feel to the brand, from a purely observational point of view. A difference in creative or is there something distinctly new about Kia cars? With the brand centre stage, or is at centre court, in February, we take a look at the latest Kia models and serve you up details on acing a purchase with a [Jade Car Loans](/) finance deal. ## **Kia Models: Overview** Promoted as the ‘[all new Stonic](https://www.kia.com/au/cars/stonic/features.html)’ the small Kia SUV was promoted with a young vibe but has the features to appeal to a wider buyer market. The major selling points are the agility of a car but with elements and style of the top selling SUV category. Providing ease of handling even in urban environments. No doubt to appeal to the target market, the tech and connectivity and style are pushed heavily. Even to the point of the brand stating the Stonic is insta-worthy. What is worthy of mention is the 1.4 litre MPI petrol engine which the company claims is frugal and delivers fuel efficiency in concert with the Idle Stop and Go function. The Stonic has a good range of standard safety features included with several others available as options. The Stonic is available in two models – Sport in choice of manual or auto and the GT-Line which has the dual clutch transmission. Peeked your interest? Head to our [car loan calculator to work out affordability with estimated repayments](/car-finance-calculator). Or just connect with a Jade Car Loans consultant via phone or online form for a quote or to apply for a loan. The other take-out from the Kia ad campaign was the TVC with [Carnival](https://www.kia.com/au/cars/carnival/features.html), [Sportage](https://www.kia.com/au/cars/sportage/features.html) and [Sorrento](https://www.kia.com/au/cars/sorento/features.html) that had a real advanced driver training session feel with moves you’d expect the team at a certain well-watched TV car show to undertake. The Sportage is pitched at young families but has the features that would make it suited to the small business owner. A larger SUV with the essential cargo area that seems to be a must-have for many business operators as well as families. The Sportage is available in a number of model variants all with choice of petrol or diesel. The Sorento is the largest SUV in the Kia range and the most luxurious. It even includes a 12 speaker BOSE sound system! A 7 seater with 187 litres of cargo space or ditch the third row of seating to use the massive 616 litres of cargo area. Power choices are the 3.5 litre V6 petrol engine or the 2.2 litre diesel. While not appearing to claim AWD capabilities, the Sorento does have a multi-terrain driving mode. A mode that that the company claims provides better stability and traction when driving on surfaces such as snow, mud and sand. With four model variants, there is plenty of choice for Sorento buyers to select a vehicle which specifically meets their requirements. ## **Acing the Finance** Once you’ve selected your Kia you’ll need to ace that deal with a cheap [low interest car loan](/car-finance-interest-rates). We have both private and business buyers covered in that space. For private buyers, the [Jade Secured Car Loan](/secured-car-loans) at our cheap fixed interest rates is the way to go. We’ll negotiate the loan repayments to meet your household budget preferences as best as possible. For business buyers, you have the choice of our full complement of commercial finance products to select from. - [Chattel Mortgage](/car-chattel-mortgage) - Car Leasing - [Commercial Hire Purchase (CHP)](/commercial-hire-purchase) These loan products have varying benefits depending on your business set-up and also varying interest rates. Referring to your accountant for advice on which is best for your business is highly recommended. Whether for business or private use, all our Kia loans are arranged individually by a Jade consultant and sourced from across our vast lender panel of leading banks and non-bank lenders. All include fixed interest rates, fixed loan terms and fixed repayments. If tossing up between different Kia models, use our loan repayment calculator to assist with the decisions. **Talk to Jade Car Loans 1300 000 003 about a quote on the Kia of your choice.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR*. **Categories:** Uncategorised --- ### [Finance Deals on Best-Selling Light Commercial Vans](https://www.jadecarloans.com.au/blog/finance-deals-on-best-selling-light-commercial-vans) **Published:** February 18, 2021 **Author:** Publisher **Content:** If you’re the type of van buyer that likes to study the vehicle market to find out what others are buying to guide your own purchases, then we’ve got the stats for you. The 2020 truck sales figures from the official reporting agency have been released and they include the results and rankings for sales in the light duty van category. 2020 was an interesting year to say the least but particularly so in the delivery sector. With the shift to online shopping and home delivered goods due to coronavirus lockdowns, a massive uptick in sales for delivery vehicles especially light commercial vans may have been expected. There were reports of many small businesses taking on doing their own deliveries by expanding their services to offer customers direct ordering and home delivery and a small van would likely be the ideal vehicle for many SMEs. But the shift in consumer buying habits has not really played out in sales of new vans. At least in regard to business buying new vans to cope with an increase in sales and demand for deliveries, the sales figures for the year don’t seem to reflect the changing trend in shopping. That also extends to the [IAWO](https://www.jadecarloans.com.au/blog/coronavirus-stimulus-instant-asset-write-off-for-cars/) combined with cheap lending rates which would have been expected to drive sales. Truck industry spokespeople have said they would expect it would take a few months after the federal budget measures announced in October for sales to respond. So hopefully, when sales for the first few months of 2021 are released the sector will be showing more positive sales figures. While consumer confidence is on the rise, the ongoing coronavirus situation with continually changing border restrictions, snap lockdowns and a degree of uncertainty caused by these factors could have an impact also. So what did happen? Let’s analyse the figures. ## **2020 Light Duty Sales** The figures reported only relate to new vehicles and don’t include sales of used vehicles. Overall for the entire year the total sales in the light duty van category were down 1.2% compared with 2019. But it could have been worse except for a massive 15.5% increase in sales in December compared with December 2019 figures. Analysis of the rankings of which brand sold the most also reveals some interesting movements. While Mercedes-Benz topped the list in total vehicles sold, it suffered a 22% drop compared with 2019 figures. [Renault’s Master](http://www.renault.com.au/vehicles/master-van/) came in second and saw an increase of 9.8% overall sales increase compared with the previous year. But the third place getter can effectively claim the best result. That was [Volkswagen with its recently released Crafter model](https://www.volkswagen.com.au/en/models/crafter-van.html) clearly striking a chord with buyers. While total sales units were only 1170 compared with Merc’s 2163, the 1170 represents a 51% increase over 2019 figures. Also posting significant percentage increase growth was the category stalwart, the [Ford Transit](https://www.ford.com.au/commercial/transit/) in fourth ranking place but with a 23% increase over the prior year. This may have been due to the updating the model received for 2020. Fiat and [Iveco](https://www.iveco.com.au/) round out the top 6 rankings, both with decreases in percentage sales but this is off quite modest numbers. Fiat dropping from 444 to 318 units sold and Iveco from 338 to 298. So there’s the stats and the ranking for you to ponder when considering which light commercial van to invest in for 2021. Let’s go one step further and see what models these brands have for you to compare. ## **Van Models to Compare** - [Mercedes-Benz Sprinter Panel Van](https://www.mercedes-benz.com.au/vans/en/sprinter/panel-van) is available in short, medium, long and extra-long wheelbases and has standard, high and super-high roof heights as well. Plenty of ways to customise a Sprinter to your business application. - Renault Master sold well in 2020 and with 4 wheelbase options, auto, manual and FWD transmission choices and generous cargo space, this could be worth considering. - Volkswagen Crafter recorded the biggest percentage increase in sales and on that basis alone is surely worth a look-see and test drive. The Crafter is available in medium, long and extra-long wheelbase options. But for businesses after a smaller van, check out the Caddy while at the dealership. Don’t forget to go prepared with a Jade pre-approved finance deal so you can order on the spot. - Ford Transit Van is iconic and probably requires little fanfare as it does and has done it all. But after all the time it has been on the market it is still growing its market. - [Fiat Professional Ducato](https://www.fiat.com.au/ducato.html) claims to have a class-leading payload so if space is high on your buying criteria, take a look. - IVECO have the new Daily E6 van which no doubt they will be hoping appeals to buyers in 2021. It has a lot to offer and from one of the leading truck manufacturers, so don’t discount, but add IVECO to your list of possibles. ## **Comparison Tools** Jade makes it easy to compare van makes and models and [compare business car finance](/business-car-finance). Use our loan calculator to compare repayments across the contenders. When it comes to finance products, compare interest rates across our loan portfolio. Or make it easy on yourself and just call [Jade Car Loans](/) and let one of our consultants source you quotes on the vehicles you’re interested in purchasing. **To discuss finance on a best-selling van, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THIS ARTICLE IS PREPARED AND POSTED WITH THE INTENTION OF PROVIDING GENERAL INFORMATION AND NOT WITH THE INTENTION THAT IT BE THE ONLY SOURCE OF INFORMATIONON WHICH TO MAKE FINANCIAL DECISIONS. THOSE REQUIRING FINANCIAL ADVICE AROUND THEIR INDIVIDUAL SITUATIONS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPT FOR ANY MISREPRESENTATIONS OR ERRORS IN THE CONTACT AS SOURCED, IN GOOD FAITH, FROM A RANGE OF SOURCES.* **Categories:** Uncategorised --- ### [Financing Your New Porsche Taycan](https://www.jadecarloans.com.au/blog/financing-your-new-porsche-taycan) **Published:** February 22, 2021 **Author:** Publisher **Content:** For Porsche purists it may be all about the classic sports car but for realists, it’s all about the latest model. Great news for Porsche enthusiasts with the new all-electric Taycan available in Australia from February 2021. While buyers have been enjoying the new [Porsche Panamera](https://www.porsche.com/australia/models/panamera/ "Explore Porsche Panamera Models") and the [e-hybrid Cayenne](https://www.porsche.com/australia/models/cayenne/cayenne-models/cayenne-e-hybrid/ "Investigate e-hybrid Cayenne") since earlier in the year and the new 911 since late 2020, the availability of the Taycan EV is a significant moment for the luxury motor vehicle market. With Tesla dominating the luxury EV market for some time, the entry of another premium auto-maker into the sector is a major event. With the release of the Taycan EV, we address what we see as possibly two key issues that will influence buying decisions – charging options and finance options. ## Porsche Taycan Models First, a quick overview of the models available. The Taycan premiered to the world in 2019 but is now available to order in Australia. The models available are the 4S, Turbo and Turbo S. A four door sports sedan with a very special package and signature Porsche performance. But electrified. Compared with the rest of the world, Australia has been slow in the take-up of EVs. One of the reasons for that may be access to convenient charging or just not fully understanding how that aspect works. Porsche has covered off on charging with the release of the Taycan. ## Taycan Charging Options In the news release around the release of the Taycan, Porsche outlines the charging options available for Australian owners. It’s noted that the vehicle has a 800 volts system compared with 400 on most electric cars. Porsche states that while enabling high performance, this also reduces charging time. The company says that the Australian Taycan models will come with the standard inclusion of a Mobile Charger Connect in addition to a Charging Cable that suits public charging stations. For those that charge at the 400V stations, a 150 kW DC charger is included as standard on the Australian models. To facilitate ease of charging, Porsche is partnering with [Chargefox](https://www.chargefox.com/ "Explore Chargefox") and providing buyers with 3 years complimentary subscription to their network and at selected sites. If buyers would like home charging, Porsche arranges a service to provide expert advice on solutions. Another option is Porsche Destination Charging. This is a network being installed through both regional and metro sites for charging Taycans and plug-in hybrid Porsche models. Australian models have additional standard equipment to meet local specifications with the Porsche Charging Dock, cable for domestic sockets, cables for industrial sockets mobile charger connect model and the home energy manager for home set-up assistance. Hopefully, all those options will satisfy buyer doubts and encourage you to consider a Porsche Taycan. ## Financing Options Orders for this magnificent Porsche Taycan can be placed at Porsche Centres. But before you head in for a test drive, it may be advisable to pre-arrange your car finance with [Jade Car Loans](/). If demand is strong, pre-approved finance may give you the edge in being able to commit immediately. Pre-approved finance is available across Jade Car Loans finance products and don’t worry, we can act quickly to get your Porsche finance application processed and approved. Quick quotes and fast approvals are standard Jade inclusions. We operate across both personal car loans and [business vehicle finance](/business-car-finance "Commercial Car Loan"), with both pre-approved and post-purchase loan services available across our loan products. Some of our lenders offer discounts when financing electric vehicles – ask our consultants about how this may deliver you an even cheaper finance deal through Jade. For private buyers, the most popular loan option is the [Secured Personal Car Loan](/secured-car-loans). A universally-accepted standard format, this loan is available with no deposit finance, negotiated terms and at our current low interest rate. ## Business buyers have a range of choices regarding finance for the Porsche Taycan. Our selection includes:- - [Sole Trader Car Loan](/car-chattel-mortgage "Car Chattel Mortgage"): currently the most popular form of business finance, also referred to as Equipment Loan by some banks. This is seen as the most suitable form of finance for those seeking to utilise IAWO and other asset accelerated depreciation measures. - Leasing for Porsche Cars: also referred to as Finance Lease by some major banks. This is an off-balance sheet option so the Taycan is not listed on your company balance sheet. - [Hire Purchase Cars](/commercial-hire-purchase "Commercial Hire Purchase"): also known simply as Hire Purchase by some lenders. All Jade business vehicle finance products have the option to include a balloon or residual. An amount set aside for payment at the end of the finance terms. Including a balloon in your finance deal can lower the repayments. Use our car loan calculator to establish what size balloon and what loan terms you would prefer our consultants to negotiate for your finance deal. ## Moving Quickly In line with your clear appreciation for performance and speed, Jade Car Loans can move swiftly to arrange your Porsche finance. Speak with us today about pre-approved finance to ensure you are in the ideal position to place your Taycan order. **Start arranging your Porsche Taycan finance with a call to Jade Car Loans 1300 000 003** *DISCLAIMER: PLEASE NOTE THAT THIS INFORMATION IS PROVIDED PURELY AS A GENERAL INFORMATIVE ARTICLE AND IS NOT INTENDED AS A SINGLE SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADVICE IN REGARD TO THEIR FINANCIAL SITUATION ARE ADVISED TO REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE DATA, FIGURES, DETAILS AND OTHER INFORMATION AS SOURCED FROM OTHER SOURCES.* **Categories:** Uncategorised --- ### [Tax Planning Can Start Now!](https://www.jadecarloans.com.au/blog/tax-planning-can-start-now) **Published:** February 26, 2021 **Author:** Publisher **Content:** Many business operators wait until they start to see ads and promos for EOFY before they address annual business tax planning. Yes, we agree, EOFY is a popular time for car sales and discounts and it is a great time to buy. But if you wait until June to make that purchase decision, you could be ‘running the clock down’ to get everything in place and finalised by 30 June. A time of year that can be hectic enough for many businesses as they engage in their own EOFY offers to their customers. So why wait till June to purchase that new business vehicle or company car? Tax benefits can be realised on Jade’s selection of [business car loans](/business-car-finance "Explore Commercial Vehicle Financing") from the time of settlement. Depending of course on which finance product you select to purchase your vehicle As we head into the final months of FY20/21, we think it’s timely to provide an update on the taxation and other cost benefits to businesses of the different business finance products available. ## Business Vehicle Finance Options Jade Car Loans offers a full portfolio of finance products for our business customers. - [Car loans for sole traders](/car-chattel-mortgage "Sole Trader Car Finance"): also known as Equipment loans by major banks. - Leasing: This can be referred to as Finance Lease. - [Explore CHP Financing](/commercial-hire-purchase) (CHP) or simply Hire Purchase. - Novated Lease with Salary Sacrifice: for employees looking to provide a car for staff where staff member sacrifices their salary. Selecting the appropriate finance option will depend on the accounting method used by the business and several other accounting-related issues. It is advised to refer to an accountant or financial advisor in making this decision. ## Key Differences: Business Finance v Personal Car Loans If you’re wondering if you should purchase your new vehicle as your company vehicle or as your car we outline the key differences to consider. The key differences between business finance products and personal car loans include: - The option to include a balloon for Chattel Mortgage and Hire Purchase and a residual for Leasing is available on business finance products and only occasionally on [personal car loans](/personal-car-finance "Personal Vehicle Financing"). This is a percentage of the purchase price which is set aside from inclusion in the monthly repayments and is due for payment in full at the end of the finance period. This allows business buyers to structure repayments to better suit their cash flow and spread the cost of vehicles over an extended period. The balloon/residual can be paid out from cash equity when due or businesses can consider refinancing options. - Lower interest rates apply to business vehicle finance over personal car loan interest rates. This applies to Jade Car Loans offers and generally across the motor vehicle lending market. - [Business vehicle finance includes tax deductible elements](/blog/tax-topics-optimising-business-vehicle-finance "Learn how to optimise Commercial Car Loans") which are approved under ATO rulings. If claiming personal car allowances and other vehicle expenses for using a private car for business purposes, taxpayers will need to meet ATO guidelines and may need to have receipts, a log book and other evidence to accompany a tax return. Referring to a tax agent is advised. - The range of finance products available for business buyers is more extensive than for personal car loans. Businesses can select a finance facility that best suits their business set-up and financial objectives. ## Eligible Businesses To be eligible for business vehicle finance, the vehicle needs to be used primarily for business purposes meet ATO guidelines and be purchased by a business entity. It’s worth noting, as covered in detail in another of our news articles, the ATO accessing new vehicle rego data from state authorities to cross-match with their records to manage taxpayer compliance. Jade Car Loans offers business vehicle finance to a wide range of business structures and set-ups:- - Sole traders and owner operators - Partnerships and family enterprises - SMEs and large corporations A minimum requirement for business vehicle finance is to hold a current ABN and have identification. Lenders will also request a range of financial documentation about the business’ financial status and credit history. If a business does not have all the docs, Jade can pursue a [low doc car finance](/low-docs-car-loans-for-business-vehicles "Explore Minimal Car Loan") quote for the business. ## Tax Treatment - If purchasing a vehicle with Chattel Mortgage finance, the full GST that applies to the purchase price can be claimed on the next BAS after settlement. GST is then not applicable to the repayments. - Leasing repayments are considered an operating expense and as such GST is applied to these but not the interest portion. - Subject to individual businesses meeting ATO guidelines, Leasing payments are usually accepted as a tax deductible operating expense. - Only the interest portion of Chattel Mortgage repayments is a tax deduction but depreciation on the car as an asset is applied as a deductible item when the end of year income tax return is prepared. - If considering IAWO, Chattel Mortgage is the more suitable form of finance. All are subject to meeting eligibility criteria. ## Structuring Your Car Finance The key objective of undertaking any major business expense is to optimise cost-effectiveness and maximise tax effectiveness. Individually structuring your car finance contract can be key to achieving these objectives and that is a key service provided by Jade Car Loans. Selecting [Jade Car Loans](/ "Jade Vehicle Financing") as your vehicle lender provides you with an individualised service to source both the cheapest car finance and to negotiate with the financier to structure your deal with terms and elements that suit you. In addition to our accreditation with the major banks, we are accredited with non-bank lenders that can offer greater flexibility regarding finance structure, conditions and terms. To make the most of the tax benefits of vehicle finance for the final period of FY20/21, why not move now on that new vehicle purchase rather than wait for the EOFY rush? Deals on vehicles are there to be captured and our [cheap business car finance rates](/car-finance-interest-rates "Affordable Commercial Car Loan Interest Rates") are waiting for you. **To discuss business vehicle finance contact Jade Car Loans at 1300 000 003** DISCLAIMER: PLEASE NOTE THAT THIS INFORMATION IS PROVIDED PURELY AS A GENERAL INFORMATIVE ARTICLE AND IS NOT INTENDED AS A SINGLE SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADVICE IN REGARD TO THEIR FINANCIAL SITUATION ARE ADVISED TO REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE DATA, FIGURES, DETAILS *AND OTHER INFORMATION AS SOURCED FROM OTHER SOURCES.* **Categories:** Uncategorised --- ### [Know Your Personal Car Loan Options](https://www.jadecarloans.com.au/blog/know-your-personal-car-loan-options) **Published:** February 28, 2021 **Author:** Publisher **Content:** When heading off to buy a new ride, many buyers concentrate totally on the vehicle without giving much thought at all to how they are going to pay for it until after they’ve struck a deal with the seller. Spending time considering your car loan options before or at least during the vehicle search process can be instrumental in securing a cheap car finance. There are many banks, finance companies, finance brokers and auto manufacturers that are offering personal car loans. Knowing what’s what, the differences, the pros and cons and clearly establishing how you are going to proceed can pay off with a cheaper car loan. ## Personal Car Loans For the purchase of many types of cars, 4x4s, utes and other vehicles for private use, the [Secured Car Loan](/secured-car-loans "Secured Vehicle Financing") is the most popular and most commonly used loan type. This loan follows a relatively universal secured loan format:- - The car is used as security against the finance being loaned. - The lender ‘secures’ the loan against the car itself. If the borrower defaults on the loan, the lender has the right to repossess the vehicle and dispose of it via a sale to recoup funds outstanding. - The borrower repays the loan over a set timeframe, known as the loan term. - The interest rate is usually fixed, but from some lenders, can be variable. With a [fixed business car loan interest rates](/car-finance-interest-rates "Commercial Vehicle Finance Rates") over a fixed loan term, the repayments are fixed at a set amount. - The repayments are usually scheduled to be paid monthly and will be that same amount each month for the loan term. - Most lenders allow borrowers to make additional payments on a secured car finance. If additional payments are made and as such the loan is repaid in full prior to the end of the fixed loan term, minimal break fees apply. Break fees are a fee charged by lenders for repaying a loan early. - [No deposit vehicle finance](/no-deposit-car-finance "Zero Deposit Car Loan") is available for secured car loans with some lenders and subject to meeting lender loan application criteria. - Loan applicants must be over the age of 18 years in most jurisdictions, in order to be eligible to apply for consumer finance. - Having a car driver licence is not a pre-requisite of applying for a car loan. - Comprehensive insurance is required with a secured car loan. This is a requirement by the lender to protect their interest in the car. Finance companies will usually request proof of renewal of the policy each year when the policy is due for renewal. - Secured car loans are available for both new and used vehicles, subject to individual lender requirements. - Pre-approved loans are available so you can secure approval of a set loan amount before you select or commit to a purchase. ## Calculating Repayment Estimates If requiring a loan to purchase a car, most buyers will want to have some idea of what their repayments may be before they commit to a purchase. This is possible by using a [business vehicle loan calculator](/car-finance-calculator "Calculate Car Repayments"). These devices are available on the websites of banks, car finance brokers, lenders and even many auto dealers and manufacturers. Using a car loan calculator is easy as the functions are similar to a standard online form format. You enter the amount you want for your loan, the preferred loan term and the interest rate for the lender(s) you are considering. The calculator calculates estimate repayments based purely on that data. The result is only an estimate as it does not include the fees and charges applied by different lenders. But it is a great resource to assist when considering different priced vehicles. ## Lender Options When it comes to selecting which lender you should apply to for your car loan, there are a number of choices:- - Banks: Most banks offer personal car finance but may not be as competitive as some others in the market when it comes to interest rates. They also often have strict loan application criteria. - Finance Companies: This group are known as non-bank lenders and comprise a vast range of companies. Some advertise widely to attract business while others are less visible as they work purely through their select group of finance brokers. - Car Dealers: Most car dealers and auto companies offer a finance option to their buyers. This can be seen as quick and convenient way to go for many buyers. But it can be worthwhile to also source quotes from other lenders to compare with the dealer finance offer. - Car Finance Brokers: A finance broker works on behalf of their customer, the car buyer, to source the cheapest car loan deal from across a vast selection of lenders. Expert car finance brokers have the accreditations that matter! With banks and non-bank lenders that specialise in the field and can be more competitive when it comes to rates and conditions. A broker gives you more choices in sourcing loan quotes without you having to make any more effort than one contact point. **Engaging professional assistance in sourcing a personal car loan can be a very smart way to go. Your expert car finance broker has the connections to source you the cheapest deal and they are working only in your best interests. When buying a car, spend the time to know your loan options to secure that all-important cheap car loan.** **Categories:** Uncategorised --- ### [Finance Options for New Nissan Navara](https://www.jadecarloans.com.au/blog/finance-options-for-new-nissan-navara) **Published:** March 2, 2021 **Author:** Publisher **Content:** With utes continuing their great upward sales trend, could buyers be opting for this versatile vehicle over a passenger car? Ute buyers are certainly not limited to tradespeople or any other specific business category. Could it be that many others are realising what boat and caravan owners and many other business owners have long appreciated – utes are very useful. Hands down, game over, winners are grinners. You don’t have to be in a work environment to buy a ute but if you are in business and looking for a new vehicle, a ute could be a great choice. A ute can handle the demands of many recreational pursuits and household tasks. Not out of place doing the school run, plenty of space in the cargo area for a massive supermarket shop and so easy to get bikes, balls, sports gear bags and all the other paraphernalia in and out than say from the back of a SUV. For many businesses outside of the building sectors, utes can make a lot of sense. With increased tech and driveability, operating a ute doesn’t necessarily have to feel like you’re driving a truck. With an eye on affordability and with current low lending rates, buyers are spoilt for choice. The ute market is big and growing with every new model launch and the finance options also provide plenty of options. New on the market, and worth considering is [the new Nissan Navara](https://www.nissan.com.au/vehicles/browse-range/navara.html "Explore New Nissan Navara"). ## Spotlight: Navara The new [Navara Pro 4X](https://www.nissan.com.au/about-nissan/news-and-events/news/2020/Nov/the-new-nissan-navara-overview.html "Overview of the Navara Pro 4X") is a tough, rugged 4×4 that will handle the toughest terrain. But it’s also stylish and packed with driver assist tech which can be very handy in urban environments. Intelligent emergency braking, blind spot intervention and lane intervention are just some of the technologies that Nissan has included in the latest model. While the promo material is understandably focused on the off road and towing capabilities of the Navara, the interior comforts and driver assists should not be underrated, in our opinion. Especially for owners that intend to spend more time on the blacktop and to/from city-based commitments than tackling the wild terrain. Features include a quieter cabin, advanced connectivity and with the dual cab, very comfortable rear seats. The Navara also comes in a single cab 2WD along with several other variants which cover SL, ST, STX and the Pro 4X models. So plenty of choices for many business operators to find should the Navara suit their requirements. And Jade has the full range of finance options to suit all Nissan Navara business buyers. ## Business Finance Options When it comes to selecting the [Business Car finance option](https://www.jadecarloans.com.au/car-loan-products.php "Explore Commercial Vehicle Loan Types") (loan type) for your Navara purchase, there are several factors to consider. Business finance products are structured to comply with ATO regulations while meeting accounting guidelines and individual business finance objectives. For starters, it depends on what accounting method is used to prepare your business accounts and income tax return – cash or accruals. Then there is the issue of whether you do or don’t prefer to have the vehicle entered on your business balance sheet as an asset/liability. That relates to ownership of the vehicle during the loan term which varies with different loan products. With Leasing, the vehicle ownership is retained by the lender and with [Sole trader car loan](/car-chattel-mortgage "Car Chattel Mortgage") the ownership is with the borrower from settlement of the finance contract. The ownership and balance sheet then flow into how the GST is handled. While you don’t have to be registered for GST to be eligible for business finance, if you are, then it needs to be paid and claimed back as input credits on your BAS statement. With Leasing GST is applied to the repayments and with Chattel Mortgage the entire GST on the vehicle price is claimed on the next BAS after purchase. GST doesn’t apply to the interest portion of any loan type. Then there is tax deductibility. All business finance products have a tax deductible element but at what time of the financial year that can be realised and with what elements of the actual loan, varies with the type of loan. With [Business Vehicle Leasing](/car-lease "Lease a Commercial Car"), the monthly lease payments are considered an operating expense and are tax deductible. With Chattel Mortgage it is quite a different scenario. Only the interest on the repayments is tax deductible. The main tax benefit comes when the vehicle is depreciated as an asset/liability in the business accounts at EOFY when the income tax return is prepared. Enter [Instant Asset Write-Off and temporary full expensing](/blog/full-expensing-write-off-depreciation "Explore the benefits of Immediate Asset Deduction and Temporary Full Expenditure"). These much-promoted accelerated asset depreciation measures currently available, relate to depreciation and hence Chattel Mortgage is seen as the most suitable finance facility for this purpose. But wait, then there are the variations in interest rates across the different loan products. It may appear a ‘no-brainer’ to select the cheapest [business car finance rates](/car-finance-interest-rates "Understanding Commercial Vehicle Loan Interest Rates") finance products which is typically Chattel Mortgage and CHP. But the benefits of all finance products in their entirety should be considered against the individual business goals. Enter your accountant to give you advice on which to select. Armed with advice from your accountant, it’s simply a matter of contacting [Jade Car Loans](/ "Trusted Australian Car Loan Brokers") and we can take it from there. Brief one of our consultants as to which finance product you want- Chattel Mortgage, Leasing, CHP – and we will proceed to source, structure and secure you the cheapest loan for a Nissan Navara. **Start arranging your Nissan Navara finance with a call to Jade Car Loans at 1300 000 003** *DISCLAIMER: THE INFORMATION IN THIS ARTICLE IS PREPARED SOLELY FOR INFORMATION PURPOSES AND IS NOT INTENDED AS FINANCIAL ADVICE OR AS THE SOLE BASIS FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING ADVICE SHOULD CONSULT A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATIONS OF PRODUCTS, POLICIES AND INFORMATION OR ERRORS IN THE CONTENT AS REFERRED FROM OTHER SOURCES.* **Categories:** Uncategorised --- ### [Easter road trip planned? Get in now for a quick car loan.](https://www.jadecarloans.com.au/blog/easter-road-trip-planned-get-in-now-for-a-quick-car-loan) **Published:** March 5, 2021 **Author:** Publisher **Content:** Yes, cliché as it sounds, the much anticipated 2021, following the ‘let’s try to forget it’s the year of 2020, is moving fast and it’s already (well nearly) Easter. With border restrictions lifted, and double donut coronavirus days regularly reported, many will have big plans to hit the road for a getaway this Easter. But if your family have a very long and growing by the day list of the toys and stuff they want to take but your vehicle can’t hold. If your holiday group is growing by the day and your car doesn’t have the space for all your besties. If you want a real road trip experience with a new coupe, convertible, sunroof or other top-down model. Or if you’re looking at your car and just thinking – no, it’s time to upgrade. Then it may not be too late to buy that new car and be on the road this Easter. At [Jade Car Loans](/ "Car Loan Brokers") we’ve developed our business model to deliver quick car loan services across our loan portfolio. So if you want a new car for that upcoming road trip or holiday, let’s get moving! ## Enact THE Plan Car first or loan first? It doesn’t matter when you’re working with Jade Car Loans. We can organise pre-approved car loans which will have you sorted based on an estimate of your car price before you make the final decision. You can call us now or apply online and then head to the car dealership to test drive and buy. Both loan and car can be sorted concurrently, no need to wait. When you decide on the specific car and the dealer prepares the invoice, just send that through to Jade to [finalise your loan application](/blog/know-your-personal-car-loan-options "Finalise Application for Personal Car Finance") and review the repayment quote based on the exact figure. So that’s the plan but you do need to do your part – get all the information together that will be required for your loan application. Private car buyers applying for personal Secured Car Loans will need to provide employment, income and residential details and history as well as details of regular expenditure and other docs. So start [downloading bank statements](https://www.commbank.com.au/support.digital-banking.online-statements.html "Access Bank Statements"), get your payslips into one place etc. so you can quickly complete the application over the phone with your Jade consultant. Business vehicle buyers will need to decide which particular finance product they are seeking and to make that quick and easy, simply call your accountant. They should be best-placed to advise you and should be able to give you an instant answer – Leasing, CHP or [ABN car loan](/abn-car-loan "Vehicle Financing for ABN Holders"). You will also need your ABN details and other business financials such as BAS statements, [business tax returns](https://www.ato.gov.au/general/other-languages/in-detail/information-in-other-languages/lodging-a-tax-return-for-your-business/ "Corporate Tax Filings") etc. which you may have already in your files. If so, get them into the one place so they’re ready to send through to Jade. If not, your accountant may be able to assist there too. On your say so, your Jade consultant can liaise directly with your accountant to source necessary financial info for your finance application. ## Generate Instant Estimates If you’re checking out cars online and wondering how those RRP and MRRP might convert to loan repayments, just head to our [business car loan calculators](/car-finance-calculator "Calculate Commercial Vehicle Financing"). We’ve made that side of the process very easy and instant. Just enter the amount of the car you want and the preferred loan term and you’ll instantly see a repayment estimate. Great ballpark to use in deciding which car to buy if repayments are the deciding factor for you. ## Get a Quick Quote and Fast Approval While the bank or finance company might leave you ‘on hold’ for a loan quote, your Jade consultant doesn’t have those sorts of delays in sourcing car loan quotes. With our industry-level access and direct communication channels across our lender network, quick car loan quotes are an integral part of our service offering. While you might pay a premium for express service and delivery with some products and services, that doesn’t happen with a quick car loan through Jade. Our customers are not charged a premium for a quick car loan. Our same cheap [commercial car loan interest rate](/car-finance-interest-rates "Business Vehicle Finance Rates") deals are available regardless of the timeframe. Of course, the quick quote is just phase one. You need to accept our quote so we can proceed to our next, fast approvals phase. The faster we get you approved, the quicker you can get the keys to your new car. ## Ensure Prompt Settlement With the loan approved, the car selected and the purchase deal done it’s time to finalise the process. That involves ‘settlement’ which is when the lender pays the dealer for the car. No need for you to worry about that as your Jade consultant liaises between the lender and the dealer to make that happen. The lender pays the dealer directly, you don’t have to organise or handle the payment yourself. Some business finance products include the first payment being made upfront and your consultant will also organise that with you. ## Make the Call! Easter and holiday time are fast approaching so if you’re checking the maps and booking accommodation but want a new car for the trip – call Jade Car Loans now and let’s get you into your new car ASAP. **For quick car loan service, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: THE INFORMATION IN THIS ARTICLE IS PREPARED SOLELY FOR INFORMATION PURPOSES AND IS NOT INTENDED AS FINANCIAL ADVICE OR AS THE SOLE BASIS FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING ADVICE SHOULD CONSULT A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATIONS OF PRODUCTS, POLICIES AND INFORMATION OR ERRORS IN THE CONTENT AS REFERRED FROM OTHER SOURCES.* **Categories:** Uncategorised --- ### [Finance For Feb Best Sellers](https://www.jadecarloans.com.au/blog/finance-for-feb-best-sellers) **Published:** March 8, 2021 **Author:** Publisher **Content:** With low interest rates and IAWO still available for eligible business vehicle buyers, conditions are attractive for purchasing new vehicles. Reviewing the February 2021 motor vehicle sales statistics, it appears many businesses are taking advantage of the opportunities. The sales of light commercial vehicles which includes vans and utes outsold the passenger car types of wagons, sedans and hatchbacks in sales figures for the month. The figures show a 24% increase in light commercial vehicle sales over February 2020. SUVs still perform strongly in comparison to both these categories. The strong and seemingly strengthening sales of SUVs appear to highlight the versatility of this vehicle for both recreational and business requirements. This a factor that many buyers have known for some time and with their popularity continuing to grow. If you want a sign that the time is right to buy, then the stats along with our Jade Car Loans’ cheap interest rates could be that sign. ## Best Selling Business Vehicles According to the [FCAI (Federal Chamber of Automotive Industries)](https://www.fcai.com.au/ "Explore the official website of the Federal Chamber of Automotive Industries (FCAI)") figures, the top 5 best-selling vehicles for February 2021 were the Toyota Hilux, Ford Ranger, Toyota RAV4, [Toyota Land Cruiser](https://www.toyota.com.au/landcruiser-200 "Discover the latest models of the Toyota Land Cruiser lineup") and Toyota Corolla. In the light commercial category, the Mitsubishi Triton slipped into third behind the HiLux and Ranger. If you require a passenger vehicle as your business car, the best-sellers in addition to the Corolla were the Hyundai i30, Kia Ceranto, Toyota Camry and Ford Mustang. ## Finance Options for Business Buyers Business buyers have several finance products to select from when purchasing a vehicle. Jade Car Loans offers a full portfolio of loan options so we have a finance option to suit different business set-ups, varying tax structures and the varying financial objectives of many businesses. Our most popular finance options include: - [Sole trader car finance](/car-chattel-mortgage "Learn about financing options for individual business owners in the automotive industry") - Vehicle Leasing - Vehicle Commercial Hire Purchase Selecting the finance product is less about the vehicle and all about the business. While the vehicle being purchased must be primarily for use in the business to qualify as a business vehicle under ATO rulings, business finance products suit the purchase of all business vehicles. ## Finance Selection Process The choice of which finance facility will best meet your business requirements should include consideration of several factors. As most of these factors relate to accounting matters, a discussion with your accountant, tax agent or financial advisor is highly recommended. These ‘deciding’ factors can best be seen when comparing the differences between the finance products. We’ll compare some of the key factors with the most popular types of finance: [Commercial Car Leasing](/car-lease "Explore opportunities for business vehicle leasing solutions") and Chattel Mortgage. **Vehicle Ownership and Balance Sheet:** With Leasing, the lender retains ownership of the vehicle over the finance term. This means the vehicle is listed on their balance sheet not the balance sheet of the borrower. With Chattel Mortgage, the borrower takes on ownership once the sale and finance are settled. This means the vehicle is listed on their balance sheet. Why does this matter? If a business is seeking to ‘improve the appearance of their balance sheet’ with fewer liabilities, then Leasing may be the more preferable. If a business is seeking to take advantage of the benefits on offer with [Instant Asset Write-Off](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Unlock the benefits of the Instant Asset Write-Off scheme now"), then Chattel Mortgage would be the more appropriate type of finance. The ‘write-off’ element of IAWO relates to depreciating the vehicle as an asset. To do that, the asset must be entered into the business balance sheet. **Taxation Benefits:** All business finance products, including a [car loan for business](/business-car-finance "Discover flexible business auto financing options"), are designed to deliver a tax deduction benefit to the vehicle buyer. But in different ways. Following on from the balance sheet point, Chattel Mortgage delivers the tax benefit through depreciation. Whether via IAWO or standard ATO rulings, the vehicle is depreciated each year and that amount of depreciation is a tax deductible expense. The interest on repayments is also a tax deduction but not the remainder of the repayments. With Leasing, depreciation is not achievable, but the lease payments are considered a tax deduction. **GST Treatment:** While less a factor that would sway a decision the way GST is treated with these finance products is a notable difference. No GST is charged on interest. With Leasing, GST is applied to and claimable on the remaining portion of monthly payments. With Chattel Mortgage all the GST on the purchase price can be claimed by eligible businesses, in the corresponding BAS period to the vehicle purchase. **Interest Rate:** The interest rate on Chattel Mortgage is typically lower than for Leasing. Use our [business car loan calculator](/car-finance-calculator "Access our business vehicle financing calculator for quick estimates") to generate repayment estimates for both types of finance at the different interest rates we are currently offering. **Business Type:** Leasing and Chattel Mortgage can suit all types of business structures including companies, sole traders, partnerships, SMEs and large corporates. ## Sourcing Finance If you’re keen to acquire a best-selling vehicle or any other make or model, we can assist with quick quotes and fast approval across our car finance portfolio for all vehicles for all businesses. Apply online or give us a call. **Call Jade Car Loans at 1300 000 003 for a finance quote for the vehicle of your choice and take advantage of the current attractive finance conditions** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Car Tech - Essential, Convenient, Affordable](https://www.jadecarloans.com.au/blog/car-tech-essential-convenient-affordable) **Published:** March 12, 2021 **Author:** Publisher **Content:** When buying a new vehicle, the decisions can vary across buyers as to what is considered essential, what is preferable and what is simply an indulgence or luxury. This is particularly relevant regarding tech devices and systems. Automakers are spending big money on R&D to develop new systems to make their cars more attractive to buyers. Some systems may have significant benefits regarding safer operation while others are more for entertainment and enjoyment. When it comes to selecting a new car, buyers are paying attention to what tech is included and what is optional. So what ‘added extras’ are worth paying more for and [how may those extras impact your car loan](/blog/the-budget-and-your-car-loan "Learn about the potential influence of additional features on your auto financing")? There was a time, as people of a ‘certain age’ will remember, when automatic transmission was seen as a luxury, You had to wind your windows up/down with a handle and having a cassette player and then a CD player was the WOW factor! Now, if a vehicle doesn’t come with multimedia connectivity and a range of entertainment options and driver-assist features, many buyers wouldn’t even give it a test drive. Do you select a car based on the tech inclusions? Say ‘yes’ to most of the ‘optional extras’? Or go for ‘just the basics’ and make do with standard inclusions? The majority of buyers will expect safety to be covered completely. The [ANCAP Safety Rating](https://www.ancap.com.au/safety-ratings?is_current_model=true&page=1&field=rating_year&direction=desc "Check out the ANCAP Safety Rating for your peace of mind on the road.") can assure that respect as very few buyers will want to compromise on safety. But when it comes to tech features and some ‘extras’, opinions will differ. Are some makers going beyond the essentials when it comes to tech? Is all that ‘stuff’ really necessary for driveability or just necessary for our lifestyles? ## Popular Car Tech Features We’re noting a few tech features that some experts consider essential for today’s drivers and which you may want to watch out for when selecting a new car. - When you’re arms are loaded with goods, parcels, or children or it’s raining, the auto tailgate is more than convenient it is a God-send. With SUVs consistently leading the best-selling vehicle lists, more and more vehicles will likely come with this handy feature as standard. - Keyless entry is becoming a standard vehicle inclusion but how convenient is it? This feature may come in several formats including having the actual key on your person but the car unlocks when you touch the door handle to be able to format the car entry into your smartphone. Thus doing away with the need for a ‘key’. In some scenarios being in a position to quickly access your vehicle without messing with the keys, especially if they are at the bottom of your handbag, can be a safety consideration. - [Driver assistance devices and technology](https://www.nhtsa.gov/equipment/driver-assistance-technologies "Explore cutting-edge driver assistance systems and automotive technology.") are growing in popularity and range. On many commercial vans and trucks, these are safety devices that have become essential to safe operations. On passenger cars, some may be considered desirable but not essential. Devices such as blind spot monitoring, parking assist, hilltop assistance, collision alerts and others are the most popular. These devices can improve safety when used correctly. So drivers would need to know how to utilise these devices properly but still have the skills to operate the vehicle effectively and safely and not become reliant on them, in case of faults. If you are purchasing a car with multiple driver assist devices, taking the time to learn how to use them could be highly advisable. - Multimedia and navigation systems are usually included in some form on the latest models of both passenger cars and commercial vehicles. How much individual drivers use these devices will likely depend on driving needs and preferences. Some see screen displays as distractions while others use them often and effectively. It would surely be universally agreed that while many tech devices can assist and enhance vehicle operation, they should not be seen as an alternative to acquiring good driving skills. ## Affording High Tech Vehicles When buying a new car, [Jade Car Loans](/) can include the extras and options included at the time of purchase in your finance package. So making decisions around the sound system and other devices at the time of purchase rather than after purchase can be a smart move. With our current low interest rates on car finance and cheap car loans, your Jade consultant could make including those optional accessories an affordable luxury. We’ve made that easy to work out with our Jade Car Loans calculator. Simply enter the price of the vehicle with and without those extras and see the difference in repayment estimates. That will provide you with a ballpark guide to make your decisions as to the affordability of that tech upgrade. Tech extras and options can be included in all loans across our finance portfolio:- - [Secured Car Loans](/secured-car-loans "Find out more about secured car loans for your vehicle financing needs.") - Chattel Mortgage - [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Learn about low doc car loans – hassle-free financing for your vehicle.") - [Car Hire Purchase](/commercial-hire-purchase "Discover the benefits of car hire purchase financing options.") So when selecting that new car, don’t overlook the tech as a luxury extra. These devices can increase the safety of the car, add to your convenience and may become your essential ‘must-have’. **To find out how affordable we can make a high-tech vehicle purchase, contact Jade Car Loans at 1300 000 003 for a quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Reforms to consumer credit laws approach final stages](https://www.jadecarloans.com.au/blog/reforms-to-consumer-credit-laws-approach-final-stages) **Published:** March 15, 2021 **Author:** Publisher **Content:** Nearly 6 months after first being proposed to the Parliament, a bill to reform the consumer credit laws has reached the final phases of the legislative process. In September 2020, Treasurer Josh Frydenberg announced a raft of reforms to the [National Consumer Credit Protection Act (2009)](https://www.legislation.gov.au/Details/C2019C00053 "Explore the National Consumer Credit Protection Act (2009)"). The changes were proposed as a measure to ease the flow of credit to consumers and small businesses to stimulate the economy due to the effects of the coronavirus pandemic on the economy. At the time of the announcement, we posted a detailed article that covered the implications for our [Jade Car Loans](/ "Discover the benefits of Jade Car Loans") customers. Now, as the legislation reaches the final phase, we’re updating with the latest developments and recapping the background, to keep customers across what these changes may mean to their car loan applications. ## Proposed Changes: Recap The need for change to existing consumer credit laws was primarily based on streamlining, simplifying and speeding up the application approval process and eliminating what was seen as some duplication in the system. The focus was on the home loan and small business loans area but the Act covers many types of consumer loans including [personal car loans](/personal-car-finance "Navigate the world of personal auto financing"). The existing approvals process was seen as placing the obligation on the lender to in many ways, apply a one-size-fits-all framework in assessing loan applications. The obligation is on the lender to assess the applicant’s ability to meet the commitments of the new loan. Of particular note, is an assessment of discretionary spending. This is how a person spends what money they have after all their essential and ongoing financial commitments are met. For example, do they go out for expensive dinners? This is worth noting as it was included as a key point in the submission made to the Senate committee by the [Australian Banking Association](https://www.ausbanking.org.au/ "Find out what the Australian Banking Association does"). The proposed changes would shift the onus of responsibility more to the loan applicant, the borrower, to prove they could meet the commitment. The changes would also give lenders increased flexibility in assessing applications based more on debt and income rather than current spending patterns. ## Legislative Process of Change The process to change Federal laws can be lengthy as it involves the Bill being passed by both houses of Parliament – the House of Representatives and the Senate. In the current Australian Federal Parliament, the Government does not hold the balance of power in the Senate so the passage of bills often requires negotiations with cross-bench senators and amendments incorporated. With the changes to the credit laws, a period of consultation was undertaken by a [Senate Committee](https://www.aph.gov.au/parliamentary_business/committees/senate "Access reports and updates from Senate Committees") and that involved receiving submissions from stakeholders and interested parties. Understandably some submissions supported and opposed the changes. The submission by the Australian Banking Association included mention that borrowers/loan applicants could change their discretionary spending behaviour to accommodate payments on new loans, especially in the realm of [commercial car finance](/business-car-finance "Link to our commercial vehicle financing options"). As such, applications should be assessed on debt/income rather than current discretionary spending. Those opposing the changes argued along the lines that easier credit had the potential to create financial difficulties for many consumers. The reforms do however include continuations of protections for vulnerable consumers. With hearings completed, the committee considers the situation and submits its report and recommendation to the Parliament. On 12 March that occurred with the Committee’s report supporting the changes essentially as proposed. The Treasurer originally flagged 1 April 2021 for the implementation of the reforms, so the Bill now enters the last stage, debate and vote in the Senate. ## Effect of Reforms on Car Loans Jade Car Loans is a licensed credit provider and as such we adhere to the responsible lender guidelines as set out by [ASIC](https://asic.gov.au/ "Access resources and updates from the ASIC website") and operate by the consumer credit laws regarding personal car loans. - For those that have existing personal secured car loans, changes to the credit laws would not affect your loan. - If you currently have a car loan application in progress, it will be handled by your Jade consultant and assessed by our lenders based on the current consumer credit laws and guidelines. - For those considering applying for a car loan in the coming times: if/when any changes to the consumer credit laws are enacted, your application would be assessed for approval based on those laws. That may mean a more simplified and speedier process. While some see the existing approvals processes as at times taking too long and being too complex, Jade Car Loans does provide a quick quote and fast approval services for car loan applications. Having a Jade consultant handling your loan application and assisting with the necessary paperwork can be extremely beneficial in streamlining the overall process. Notably, they also offer [affordable business car finance rates](/car-finance-interest-rates "Link to our website for affordable business car financing"), ensuring that businesses can secure the vehicles they need without breaking the bank. As we are heavily involved in consumer lending, we will be closely monitoring the progress of this Bill through the Parliament and will post updated articles when developments occur. If you have any queries about applying for a car loan, please don’t hesitate to reach out to us to address your questions. **For a quick quote or to apply for a car loan, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Is your vehicle safe for stormy, wet and extreme weather conditions? Tips for safer operation, driving and upgrading.](https://www.jadecarloans.com.au/blog/is-your-vehicle-safe-for-stormy-wet-and-extreme-weather-conditions-tips-for-safer-operation-driving-and-upgrading) **Published:** March 18, 2021 **Author:** Publisher **Content:** As we prepare this article, all states and territories with the exception of Western Australia are under severe to extreme weather conditions. The east coast including the entire coats of NSW and parts of south-east Queensland are being subjected to rainfall and flooding which in many places is exceeding 60 year records. Authorities are pleading with drivers not to drive through flood-affected areas and if possible, do not travel during these times. But there are people who need to drive and there are things you can do to minimise the risks associated with driving on wet roads and in massive downpours. Surveys have revealed that most drivers are nervous when driving in such conditions. Having confidence that your vehicle is suitable and is in good condition can be a starting point for settling those nerves. Modern vehicles have significantly improved safety features which are continually being advanced with each new model release. If you have an older model vehicle, then, for safety’s sake if not for any other reason, it could be time to consider an upgrade. With [Jade Car Loans](/ "Get started with Jade Car Loans for your next vehicle") offering historically low interest rates across our motor vehicle finance portfolio, cheap car loans are available. The golden rule around driving in the rain or on wet roads is to SLOW DOWN! We’ve all heard of driving to the conditions and it’s repeatedly endlessly for a reason. Tyres lose their grip in the wet, you can come across flash flooding unexpectedly, visibility can be impaired by fogged up windscreens or downpours and in general, road conditions can be extremely hazardous. Slowing down to below the speed limit and leaving more distance between you and the vehicle in front is essential. If conditions worsen and become far too hard to see clearly, simply pull over and wait it out. ## Vehicle Preparation While driving technique and behaviour are extremely important when driving in rain-affected conditions, the type and condition of your vehicle are also a critical element. In addition to maintaining your car according to regular servicing schedules, attention should be paid to tyres especially. Check the air pressure is correct before heading off and regularly inspect the tread for any signs of wear. While the rubber connects you to the road, you need to see clearly. Check your windscreen wiper blades regularly and replace them if damaged. Ensure your [demister air-con system is working effectively](https://www.carsguide.com.au/car-advice/how-to-de-fog-your-windscreen-23513 "Get tips on maintaining an effective demister air-con system") and start it up before you head off to allow time for the system to kick in. Driving with lights on is essential in the rain and fog. Check all lights are operational and replace globes as soon as they blow. That means headlights, indicators and especially your brake lights. If you’re brake lights aren’t working you risk the car behind running into you. ## Know Your Vehicle Not everyone is totally into cars, that’s a fact. Many of us buy a new car, take a brief read of the operational manual to see where the essentials are located, how the sound system works and that’s it. In extreme conditions, it can be worth knowing a little more than that about how your car works. This is of particular importance to owners of SUVs. At Jade Car Loans, we are well aware that this segment of the motor vehicle market is booming. However, owners need to know the capabilities of their particular SUV. Not every SUV is a 4×4. Most are not built to drive through creeks and especially never through flood waters. Just because your SUV is higher than some car types doesn’t mean you’ll be safe driving through large sections of flooded roads, even in the city. Know your vehicle and drive to its limitations. We have posted an article on the different definitions of SUV, FWD, AWD and 4×4, so could be worth a re-read. ## Select a Vehicle to Suit Your Driving Environment If you do live in an area where you have a regular need to drive under certain road weather conditions, select a new vehicle that is suited to those conditions. Using our [business car loan calculator](/car-finance-calculator "Find out your business car loan rates and payments"), you can easily calculate repayment estimates on any number of vehicles. Simply enter the different purchase price and your preferred loan term and the calculator generates the repayment estimates. This is a great tool to refer to when buying a new car and tossing between different makes and models. With interest rates at the current low levels, the difference in repayments between a certain model and a much better vehicle may not be as much as you think. ## Replacing a Flood or Storm Damaged Vehicle The final topic to cover in this ‘rain/flood event’ article is what happens if your vehicle is written off due to the flood or storm and you need to purchase a new one. When you purchase a vehicle with finance you are required to take out a comprehensive insurance policy. Depending on your particular policy, the vehicle should be covered. But that does not necessarily mean you will get a brand new vehicle to replace it. Insurance policies can be for an agreed value or market value. If the money paid out by the insurer does not cover what you owe on your loan, you will have to cover the balance. If the vehicle is not under finance, you can receive the insurance payout and put that towards the deposit on a new vehicle or pocket the money and take out car finance on 100% of the purchase price of the new vehicle. If you need to replace your damaged vehicle quickly, contact Jade Car Loans ASAP and we can move into action immediately to assist you with finances. Our consultants will arrange fast loan approval and liaise between our lender and the car dealer to finalise the deal and have you in possession of your new vehicle as quickly as possible. It may be imperative that you have transport and there may be no need to wait for the insurer to pay out on your existing car before you proceed to purchase a replacement. Just contact Jade for a quote and assistance with your motor vehicle finance requirements. **To arrange finance on a new vehicle, contact Jade Car Loans at 1300 000 003 for a quote.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Interest Rates Stay Low while SUV Market Increases](https://www.jadecarloans.com.au/blog/interest-rates-stay-low-while-suv-market-increases) **Published:** March 22, 2021 **Author:** Publisher **Content:** The SUV category continues to grow in popularity with both private and business vehicle buyers and car makers adding to the decision making process with new models constantly in the ‘new releases’ news. Fortunately for buyers, interest rates on car finance continue to remain low. Low interest rates and our cheap overall car loans present buyers with the opportunity to upscale to the next price range while maintaining loan repayments at affordable levels. More on that later, but first, we take a look at the latest SUV model releases, this week it is [Peugeot](https://www.peugeot.com.au/ "Navigate Peugeot's innovative car designs"). ## New Mid-Sized Peugeot SUVs Peugeot has added two refresh looks to their line-up with their new models of the [mid-sized 3008](https://www.peugeot.com.au/models/3008-suv.html "Link to the official Peugeot 3008 mid-sized edition page") and [5008 SUVs](https://www.peugeot.com.au/models/5008-suv.html "See what sets the Peugeot 5008 SUVs apart"). These 2021 models have received an update on earlier models and provide SUV buyers with even more to consider – the sporty 5 seater 3008 or upscale to the 7 seater 5008? Both have that French elegance and styling and are priced in the mid-range while boasting innovative tech for safety and other enhancements. Peugeot tends not to make significant shape/body changes in new models, so it’s worth delving deeper to find what’s new on these models. The 3008 is marketed as the sporty member of the family and the GT Sport variant certainly shows why. This model includes the company’s Black Pack with blacked out components which had the dramatic look. This variant features a 180 HP petrol engine, 8 speed auto transmission, a premium sound system, leather seats and the previously mentioned black design elements. Inside, you’ll find the Peugeot trademarked i-cockpit which provides an ‘intuitive’ driving experience. The tech includes extensive connectivity and driving aids while the driving position is ergonomically designed. In addition to the sports variant, the 3008 is also available with a 165 HP petrol engine with 6 speed transmission and a 180 HP 8 speed diesel engine. So buyers have plenty of choice. Pricing starts around the $45,000 mark so you can use that figure plus add extra for on-roads and any accessories you may select, to [calculate business car loan repayment](/car-finance-calculator "Estimate your business vehicle loan repayments") estimates on our Jade Car Loan Calculator. With the loan estimates on the 3008 noted, why not consider upscaling to the new Peugeot 5008? The 5008 model pricing starts around the $52,000 mark for the petrol engine and up to around $60,000 for the diesel engine, all plus on roads. Simply input that pricing estimate into the calculator to see the difference in repayment estimates. Could it be a contender for you? The 5008 is a much larger proposition in size as a 7 seater, offering way more room than the 3008 for larger families or for carrying more business-related cargo. The cargo space on both the 3008 and the 5008 is a very handy 591 litres with seats in place and expanding to 1670 litres with the last row of seats folded down. Peugeot states the 5008 offers the performance of a grand tourer car. So if long road trips are on your future agenda, this may be a vehicle to take you to your destination in comfort and style. ## Cheap Interest Rate Loans for Peugeot SUVs With the release of these two updated models, Peugeot has contributed to a large and ever-expanding mid-sized SUV market. This type of vehicle has become very much the car de jour for Australian buyers. Not surprisingly with our outdoor lifestyle and need to take recreational and sports gear not only on holidays and getaways but also when heading to the waterway for a quick morning kayak, to the sports field for a weekend game and an afternoon surf after work. The SUV is also popular for its suitability for the business buyer. Offering that extra space for all sorts of business and work items that a passenger car boot or a hatch-style wagon doesn’t always provide. Fortunately for our Jade Car Loans customers, our interest rates on SUV finance are not growing at anywhere near the expansion rate of the SUV vehicle market. Our rates on both private motor loans and [best business car finance](/business-car-finance "Explore the finest business auto financing solutions") continue to remain at low levels. The RBA Governor Philip Lowe recently stated that he would be looking at several key economic indicators when considering any rises to the official cash rate. For buyers of Peugeot SUVs, Jade offers our full portfolio of loan options, all at cheap but varying interest rates. Secured Car Loans for private buyers and business buyers have the choice of [Car loans for sole traders](/car-chattel-mortgage "Discover the best vehicle financing solutions for sole proprietors"), Leasing and Commercial Hire Purchase. To make it easy for our customers to make sense of and receive clarity in the crowded car finance market, we’ve posted a consumer finance Lender Interest Rate Comparison table and a Commercial Interest Rate comparison chart. When comparing different Peugeot models and variants, simply enter the loan amount and you’ll see repayment estimates for the loan product of your choice. If you’d rather just get on with it, you can request a loan quote online or over the phone. With more vehicle releases due throughout 2021, the SUV market is certain to keep growing. Be assured, Jade’s cheap interest rate policy remains in place. We’ve offered better interest rates for over two decades and counting. **For a quick quote on a new 2021 Peugeot 3008 or 5008, contact Jade Car Loans at 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Reminder: EOFY Countdown and those business vehicle tax breaks!](https://www.jadecarloans.com.au/blog/reminder-eofy-countdown-and-those-business-vehicle-tax-breaks) **Published:** March 26, 2021 **Author:** Publisher **Content:** It has been a crazy, oh yes, unprecedented past 12 months due to the coronavirus pandemic, catastrophic weather events and a lot of other issues. Many business owners have had a lot on their agenda to deal with and attend to. But now the [vaccine is rolling out](https://www.health.gov.au/initiatives-and-programs/covid-19-vaccines "Follow the developments in vaccine distribution"), restrictions are being eased, some are talking a return to normalcy (what is that anyway) and the months roll on. It’s Easter and by the time you’ve unpacked the camping gear from your getaway and dealt with school holiday duties, it will be nearly May. Well into the final quarter of the financial year. Those last few months when business people can start to panic or at least pay attention to ensuring they have all the financials and acquisitions in place for tax time. While any EOFY is significant for business, this year is of particular note due to the raft of stimulus measures introduced by the Federal Government at various times through 2020. If you meant to do something about those, particularly purchase new business vehicles to take advantage of the tax measures and you haven’t quite got around to it – now could be the time to do it. While our [Jade Car Loans](/ "Get started with car financing at Jade Car Loans") consultants can arrange motor vehicle finance promptly and efficiently, you may require time to consider the large selection of work vehicles currently on the market. The ute, dual cab chassis and SUV categories are particularly extensive with competitive pricing being offered by manufacturers and dealers. In the luxury sedan market, the ideal business car, [BMW](https://www.bmw.com/en-au/home.html "Discover the latest models from BMW"), Jaguar, Audi and [Mercedes-Benz](https://www.mercedes-benz.com.au/passengercars.html "Link to the official Mercedes-Benz manufacturer site") have exciting new 2021 models hitting the market. Our Jade Car Loans team has been dutifully staying across the various taxation policies and measures as they relate to motor vehicle finance and we’ve posted numerous articles for our customers to reference. But as the EOFY countdown begins, we’ll give you a quick update and recap. ## Don’t Write-off IAWO [IAWO, Instant Asset Write-Off](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Learn more about the Instant Asset Write-Off (IAWO)") was the buzz word for business asset purchases, especially vehicles, in 2020. The tax measure was used in promos by just about every vehicle dealer and lender, including Jade Car Loans, after it was implemented. But familiarity can cause oversight. We’re so used to seeing something we fail to notice it. Well, if you want to take advantage of IAWO in this financial year, the clock’s ticking, so it is time to take notice. The scheme was tweaked and expanded and for some eligible businesses for eligible purchases, is available through to 30 June 2022. Some businesses and some asset acquisitions are also covered for similar tax breaks under temporary full expensing. Essentially a similar concept but with broadened scope. The concept, in basic terms, when purchasing an eligible depreciable asset such as a business vehicle, instead of only being able to claim a small percentage as a tax deduction each year, the entire purchase price can be depreciated in the financial year of purchase. The keyword is depreciable. If purchasing the vehicle under finance, the finance product needs to allow for the asset to be depreciated. Enter Jade Car Loans – it is considered that Chattel Mortgage is the most appropriate form of finance for those seeking to utilise IAWO. ## Chattel Mortgage and Tax Deductions The different finance products have variations in regard to ownership of the vehicle during the finance period. With Leasing, the lender retains the ownership and the borrower leases the vehicle from the lender. As the borrower does not have ownership rights, the vehicle is not considered as an asset/liability in their accounts and therefore, can’t be depreciated by the borrower. We should mention that Leasing does have other tax deductible benefits. With Chattel Mortgage the vehicle is used as security against the loan and the borrower has ownership so the asset is entered on the borrower’s balance sheet and hence can be depreciated or written off in the books and suitable to realise the benefits of IAWO. Check with your accountant that this type of finance suits the accounting method implemented to prepare your company books and income tax returns. Another attraction to Chattel Mortgage is the cheaper interest rate. Interest rates on commercial finance facilities vary and typically the cheapest rate applies to Chattel Mortgage. Another reason to get moving on that vehicle purchase before EOFY. Generate rough repayment estimates with our [commercial car finance calculator](/car-finance-calculator "Link to our commercial car finance calculation resource"). Chattel Mortgage features:- - Versatile form of finance which can be used for all types of business vehicles - Available to all business set-ups - [Cheap business car finance rates](/car-finance-interest-rates "Discover low-cost business auto loan solutions") - No deposit finance available - Balloon optional - Pre-approved finance If IAWO has been at the back of your mind over recent times and you’re keen to realise the benefits in this financial year, it could be time to move that idea into front of mind. Easier still, you select your car and just call Jade Car Loans to handle the finance side of things for you. **To start arranging business vehicle finance to capitalise on EOFY tax breaks, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EOFY, Tax and Low Docs Car Loans](https://www.jadecarloans.com.au/blog/eofy-tax-and-low-docs-car-loans) **Published:** March 29, 2021 **Author:** Publisher **Content:** As the clock ticks down to the end of financial year, business owners typically look to take steps now to maximise tax deductions before 30 June. Purchasing new cars and other business vehicles may be on your agenda as you look to realise many of the additional tax measures available through the [Federal Government COVID stimulus package](https://treasury.gov.au/coronavirus). Specifically Instant Asset Write-Off and temporary full expensing. But if you don’t have all the financial records and documents required by many banks and finance companies, you can apply through Jade Car Loans for a Low Docs or No Docs Car Loan. That’s all good, we’re accredited with many non-bank lenders which places us in a great position to achieve cheap loans for our low docs customers. But there may be some lingering doubts around whether or not a low docs car loan is eligible to receive the same taxation benefits as a fully-documented loan? Low docs car loans may be perceived by some as a type of loan which attracts a lot of restrictions and conditions. Conditions and restrictions may make the loan ineligible to take advantage of some of the current business tax measures available. We’re providing this explainer to clarify what is involved with applying for and being approved for a low docs or no docs car loan and what tax benefits are available for the business with this type of finance. ## Low Docs Car Loans Low docs car loans are a special category of applicant rather than a particular and specific type of loan. The docs refer to the financial records that lenders request as part of the normal business finance application process. If you’re just setting up a business or have only been trading for a brief period, say less than a year you may not have accumulated those docs. There are other reasons for not having all these docs. Whatever the reasons, Jade has access to lenders that do offer loan for low docs applicants. Low docs car loans are available for the purchase of all types of motor vehicles used in the business – passenger cars, utes, cab chassis, vans, SUVs and others. There are conditions that apply to low docs car loans compared with standard loans. While conditions applied to low docs car loans will vary depending on individual lenders, having a good credit profile is usually essential. Other conditions may include requesting additional security and as a start-up, this may involve a personal guarantee by the business owner. With [Jade Car Loans](/ "Navigate the world of vehicle financing with Jade Car Loans") handling your loan sourcing process, you have the advantage of our consultants knowing which lenders are more flexible when it comes to approving low docs loans and which ones are currently offering the best deals. ## Finance Product Selection While there are additional conditions attached to the application process, these conditions are not restrictions when it comes to selecting the type of finance and hence how tax elements of the loan are treated. Typically the business owner will select which type of loan/finance facility they are seeking prior to applying and in consultation with their accountant or finance advisor. That choice then forms part of the application. But an application for business vehicle finance can be submitted to Jade Car Loans based on the business information only and the finance facility selected after initial approval is granted. The interest rate differs across the loan range so to source a specific quote, the type of finance would need to be nominated. View our [best business car loan interest rates](/car-finance-interest-rates "Find the most favorable business car financing interest rates") and other car loan interest rates here. Low docs applicants have their choice of our portfolio of car loan products:- - [Affordable sole trader car finance](/car-chattel-mortgage "Link to our website for affordable sole trader vehicle loans") - Leasing - [Car Hire Purchase](/commercial-hire-purchase "Visit our page to understand Car Hire Purchase better") When approved and the finance contract settled, low docs car loans are subject to the same taxation treatment as fully documented loans. The way GST and income tax deductions are addressed is different for Chattel Mortgage and Leasing, the two most popular forms of car finance. We have detailed these on our dedicated web pages for your information. ## Special Measures Available Now to the specifics of the Government taxation measures currently in place for eligible businesses and eligible asset purchases and how these may impact low docs car loans. In basic terms, low docs and fully documented loans can both utilise these measures subject to eligibility and use of the appropriate finance facility. Both IAWO and temporary full expensing are what is known as accelerated depreciation measures. They both allow the full purchase price of the asset, the vehicle, to be ‘written-off’ as a tax deductible expense in the financial year of purchase rather than as a percentage per annum. Accelerated depreciation measures can be realised where the asset, being the car, appears on the business balance sheet. This applies to Chattel Mortgage but not to Leasing. With Leasing, the lender retains the ownership of the vehicle so the borrower is not in a position to depreciate the asset. But the leasing payments are a tax deductible expense. With Chattel Mortgage, the borrower has ownership, the asset is entered on the balance sheet and an income tax deduction realised through depreciation according to ATO rulings. But the loan repayments are not tax deductible, only the interest portion. ## Sourcing a Low Docs Car Loan We can achieve our cheap interest rates on low docs loans. To expedite your business vehicle purchases with a low docs car loan, simply contact us and one of the consultants will handle the entire process for you. **For a quote contact 1300 000 003 today.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Car Market News: Top sellers, new car concept centre, loan rates](https://www.jadecarloans.com.au/blog/car-market-news-top-sellers-new-car-concept-centre-loan-rates) **Published:** April 1, 2021 **Author:** Publisher **Content:** There’s always a lot happening in the motor vehicle market with new models being released both internationally and locally regularly. As major lenders in the car finance sector, we like to stay across the latest and in this article, we’re highlighting a few news items that our team has found of interest in the past week. The information is aimed at those looking to buy a new car but can’t quite decide on which car. Hopefully, these resources will assist in your selection and of course, we have [business car loan repayment calculators](/car-finance-calculator "Discover how to determine your business vehicle loan payments") readily available at all times to assist in getting quick loan repayment estimates on any vehicle you are interested in. As we approach the EOFY sale time, now could be an ideal time to start considering which vehicle you would like to purchase and start getting your finance and purchasing plans sorted. ## What’s selling best? When it’s time to buy, many people like to know the most popular vehicles – what’s selling best. While popularity is not always an indication of what are the best cars, it is an indicator of what other buyers are being drawn towards and possibly worth further investigation. To assist buyers, sales figures on new vehicles are regularly collated and released by the industry. [Sales figures for new vehicles for March 2021 show a 22% overall increase in the same period in 2020](https://www.carexpert.com.au/car-news/australias-new-car-sales-boom-up-22-per-cent-in-march "Discover the surge in new car sales during March 2021"). Passenger car sales are down while SUV and light commercials are up. This spike in car sales has been noted from many angles and may be attributed to the fallout from the coronavirus pandemic. Travel plans have been halted, lockdowns have limited the ability for many spending options and many have opted to spend money on a new car. Private buyers may be looking to drive holidays rather than the usual flying options while business buyers have been incentivised by stimulus measures and tax breaks. The Federal Chamber of Automotive Industries (FCAI) released the figures and included a comment that sales could have been even higher if some manufacturers had not been hindered by COVID-19 impacts in the supply chain and getting vehicles into the Australian market. [More information here](https://www.fcai.com.au/news/index/view/news/711). The top selling brands in March 2021 were Toyota, Mazda, Hyundai, Mitsubishi and Ford. SUVs out-sold passenger cars by more than double the number of units. Clearly showing how popular the SUV has become in the Australian market. The top selling models, in order, were Toyota Hilux, Ford Ranger and Toyota RAV4. ## NEW Concept for Comparing Cars to Buy We were very interested to come across a new concept launched by the Car Expert team to assist car buyers in seeing and comparing a whole range of different makes and models under one roof, without salespeople. Just like Jade brings a range of finance options and lenders for our customers, many of which you may not have heard of, have access to or considered, this [Car Expert Experience Centre](https://www.carexpert.com.au/car-news/the-carexpert-experience-centre-is-open "Find out what awaits you at the Car Expert Experience Place") has a similar approach. The Experience Centre concept has attracted so much attention it was featured on a national news program. Manned by a team of car experts, not salespeople, the Centre focuses on providing buyers with the opportunity to easily check out a range of vehicles with the assistance of experts who can point out the features of each vehicle but without the sales pitch. You can’t buy a car there, so the pressure is off from the sales point of view. Allows buyers to check out many vehicles in one place and receive an impartial presentation. Saves all that time visiting multiple dealerships and going through the required briefing and spiel from the salesperson. Plus it may put cars you would never think of on your radar. In the days of the major motor shows, buyers had this opportunity each year. There are smaller car shows hosted around the country, particularly for 4WD and adventure models, but not on the scale of the old Sydney International Motor Show. This new concept appears to bring a motor show vibe and approach, though on a smaller scale and with the ability for customers to get up close with the vehicles. At the moment, the Experience Centre is only operating in one Sydney location and for a limited time, but word has it, the company behind this great concept has plans to host it in other locations. Hopefully, for buyers, it will be readily available on an ongoing basis. The Car Expert Experience Centre is at Warringah Mall Brookvale on Sydney’s Northern Beaches running from 27 March through to 22 June 2021 and includes a wide range of family, adventure, urban and electric vehicles. ## Car Loan Interest Rates Update The RBA kept the official interest rate on hold at their April meeting so the historic interest rate climate is set to continue. View our cheap [business car loan interest rates](/car-finance-interest-rates "Link to our website to learn about business car loan interest rates") on all our car loan products, to receive comparisons of the best finance options for you. Get in contact with [Jade Car Loans](/ "Secure your dream vehicle with Jade Car Loans") today to see how we can assist with your financing needs. **To discuss your requirements contact 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Register Interest, Get Pre-Approved Finance for new Chevy Silverado](https://www.jadecarloans.com.au/blog/register-interest-get-pre-approved-finance-for-new-chevy-silverado) **Published:** April 5, 2021 **Author:** Publisher **Content:** While the Toyota HiLux and Ford Ranger dominate the sales data, the [Chevrolet Silverado](https://www.hsv.com.au/see/silverado2500/ "Discover the latest models from Chevrolet's Silverado") has certainly found popularity with many Australian truck and ute buyers. A popularity is likely to further increase with news of the impending availability of the 2021 LT Trail Boss model which is positioned as ‘entry-level’ for the Silverado range. A model is likely to give even stiffer competition to RAM Trucks here in Australia and potentially convert Toyota and Ford die hards to this US import. The Chevrolet Silverado is a US built vehicle converted to suit Australian right hand drive regulations by the highly respected Walkinshaw Group. As such, it is eligible for finance through [Jade Car Loans](/ "Secure your dream vehicle with Jade Car Loans"). Distributed through General Motors Speciality Vehicles (GMSV), the Silverado can be purchased with our full portfolio with our cheap car loan interest rates applicable. ## LT Trail Boss Details The [Chevrolet Silverado 2021 LT Trail Boss is a 6.2 litre V8 off-road vehicle](https://www.drive.com.au/news/2021-chevrolet-silverado-1500-lt-trail-boss-price-and-specs-drive/ "Explore the Chevrolet Silverado 2021 LT Trail Boss") with 10 speed auto transmission with a maximum trailer weight of up to 4.5 tonne. With the generous cargo space, it should strike a chord with a range of business buyers especially in the trades and rural sectors as well as private buyers looking for an impressive vehicle to tow a boat or transport off-road bikes. This model features the off-road suspension package and a special kit that increases the height of the ride. Making it a great off road option. It also benefits from a package to protect the truck bed including the wheelhouse liners and as a dual cab has a comfortable cabin and seating for 5. Tech has been tackled impressively with both Apple and Android compatibility, 6 speaker sound system, an 8” touch screen and more. Safety is also covered well with front and rear park assist, blind zone alerts, lane change alerts and other features. So what will this special release cost you? Well, pricing has been reported in the media at around the $107,000 plus on-roads mark. So now you can head to our [business car loan calculator](/car-finance-calculator "Explore our online calculator for commercial car finance") and start working out how you would like your Jade Car Loan structured for your purchase. ## Availability and Ordering There’s one issue to deal with and that’s around availability and delivery. At this stage, the new LT Trail Boss is not available for delivery until mid 2021, with no specific date released at the time of writing. But those keen to be first in line to take delivery can register their interest at [https://www.gmspecialtyvehicles.com/](https://www.gmspecialtyvehicles.com/ "Visit GM Specialty Vehicles Website") While registration of interest is not a commitment to buy, we offer a service to provide prospective buyers with added confidence when submitting their interest in Jade’s pre approved car loans. By having your finances confirmed with a pre-approved loan, you may be in a better position to place an order and not miss out if stock is limited. ## Pre-approved Silverado Loans Arranging pre-approved [new business vehicle](/new-car-finance "Find the perfect new car for your business needs") finance through Jade is a straightforward process with most of the application steps the same as you would follow if seeking finance after you’d committed to buying a vehicle. For starters, pre approved finance applies to our full portfolio of motor vehicle finance, both private and business loans, which include: - [Secured Car Loan](/secured-car-loans "Navigate to our secured auto loan information") for private buyers - Chattel Mortgage, which is also known as Motor Vehicle Loan by some lenders, for business buyers - Vehicle Leasing for the business buyer - Commercial Hire Purchase for motor vehicles for business buyers Business buyers are directed to note the differences in the different types of business finance. These include suitability to either the cash accounting method or the accruals method of accounting, treatment of GST, which loan elements are tax deductible if the vehicle is depreciable under ATO rulings and the interest rate. In deciding as to which loan type to select, customers are advised to check with their business accountant or tax agent. The interest rate varies across loan products as you can see on our [business car loan interest rate](/car-finance-interest-rates "See how we offer favorable rates for business auto financing") comparison chart. Private buyers can also see the different advertised interest rates and corresponding comparison interest rates offered by a selection of lenders to compare with Jade’s cheap rates. On submitting a request or application for a pre-approved Silverado loan, your [business car loan broker](/car-finance-broker "Visit our page to explore business car loan broker services") will source you the cheapest quote from across our vast lender panel. With a pre-approved loan, buyers typically don’t have a set loan amount based on a dealer invoice as the deal has usually not been confirmed. In the case of registering interest, the exact purchase price will not be known. However, in most cases, the loan amount required can be estimated based on the advertised dealer pricing for the vehicle. The pre-approved loan quote is sourced based on that estimate. When you accept the quote, your consultant processes your application through to the stage of receiving approval from one of our lenders. Pre-approved do have a timeframe which you will be advised of when applying. If the timeframe expires before you act on the offer, the pricing may need to be re-quoted. So if the new 2021 Trail Boss from Chevrolet Silverado ticks your vehicle boxes, have a chat with Jade re finance so you can register a strong interest or even place a holding deposit with a dealer. **Contact 1300 000 003 to discuss vehicle lending on a new Chevy Silverado Trail Boss.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [How business vehicle buyers are making gains from a loss](https://www.jadecarloans.com.au/blog/how-business-vehicle-buyers-are-making-gains-from-a-loss) **Published:** April 8, 2021 **Author:** Publisher **Content:** Catchy headline but no, it’s not a teaser it can be a reality. There is a current tax measure in place which enables eligible businesses to receive a gain as in a cash refund by making a loss on their balance sheet through the purchase of eligible motor vehicles. Not a trick or a gimmick, this is legitimate and has been covered by the ATO. We’re talking about Loss Carry Back. Through 2020 the Federal Government introduced a raft of stimulus measures for businesses and added to these when bringing down the Budget in October 2020. Several of these measures, and the ones of key interest to us as motor vehicle lenders, were the accelerated asset depreciation measures. Of even more interest is how these measures can result in a cash refund to a business. [Click for more information](https://archive.budget.gov.au/index.htm). ## Accelerated Asset Depreciation Measures Instant Asset Write-Off was a major drawcard and one that has been heavily highlighted over the past 12 months by banks, lenders including [Jade Car Loans](/ "Your source for automotive finance: Jade Car Loans") and most motor vehicle dealers specialising in business vehicles. Most business owners will have their head around this concept by now but we recap for those that haven’t. Eligible businesses can write-off/depreciate the full purchase of eligible assets, including motor vehicles, in the year or acquisition rather than depreciating the asset incrementally in line with ATO rulings over several years. Thus providing the business with a significant tax deductible expense. All subject to ATO criteria in regard to eligible businesses and eligible assets. In the October Budget, a similar concept, temporary full expensing, was introduced. This also allows for the full value/purchase price of eligible assets to be depreciated in the year of purchase. The eligible asset/vehicle would need to be purchased with an appropriate finance product, which we see as Chattel Mortgage. So we have that stage but taking the accounting process a few more steps and this purchase of a new motor vehicle with the appropriate finance facility can result in a cash refund to the business. ## Loss Carry Back Loss Carry Back for a limited time period, was also introduced in the Budget and is currently available for eligible businesses. Under standard tax rulings, when a business posts a loss in a financial year, that loss would be carried forward to the next financial year and accounted for against any profits made in future years. Loss carryback is the reverse process. A loss posted in a financial year can be claimed against profit posted in the previous year(s). The measure was introduced by the Federal Government as a stimulus measure and to acknowledge that many businesses that had posted profits in earlier years would inevitably post losses due to the economic impacts of COVID-19. In the current loss carryback regime covers businesses with a turnover of less than $5 billion. Losses refer to financial years 2019/20, 2020/21 and 2021/22. These losses can be claimed against profits posted and tax liabilities paid in 2018/19, 2019/20 and 2020/21. [More information on loss carryback tax offset](https://www.ato.gov.au/Business/Loss-carry-back-tax-offset/ "Access information on claiming the loss carry back tax offset"). This relates to the tax liability which has already been paid in the years the profit was posted. If implemented, loss carryback may result in the business receiving a cash refund of the relevant amount of tax paid against the previous year(s). Any refund is limited to the monies already paid. But a cash refund is a cash refund and a welcome injection of funds at most times for most businesses. Back to the new vehicle purchase. The scenario, which has been detailed in notes by the ATO, is that if an asset purchase is depreciated and that causes the business to post a loss, that loss could be carried back to profits in previous years and generate a cash refund of the tax liability paid. All subject to criteria. Clearly, the accounting side of the scenario would be handled by your accountant when your income tax and annual accounts are prepared. But many businesses don’t refer to their accountants for advice as to whether or not they should purchase new vehicles using options like the [best low doc car loans](/low-docs-car-loans-for-business-vehicles "Secure your dream vehicle with the best low doc loans"). They make those decisions themselves and the accountant handles the balance sheet and accounting processes. So unless your accountant has made you aware of this potential benefit for your business, it will be up to the business owner to make the relevant purchase decisions. ## Suitable Finance As we noted above, in order to depreciate the vehicle, it must be purchased with a suitable finance facility being Chattel Mortgage. Sometimes referred to as Motor Vehicle Loan. This is a highly versatile form of finance and Jade Car Loans consultants can source and secure extremely flexible Chattel Mortgage deals with negotiated terms and our trademark [cheap business car finance rates](/car-finance-interest-rates "Navigate the world of economical business vehicle finance"). If a motor vehicle purchase could benefit your business by way of the loss carryback accounting regime, contact us to discuss a Chattel Mortgage deal that will work with your business goals. **Contact 1300 000 003 to discuss motor lending requirements** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Interest Rate Update: April 2021](https://www.jadecarloans.com.au/blog/interest-rate-update-april-2021) **Published:** April 12, 2021 **Author:** Publisher **Content:** At the monthly board meeting on 6 April, the [Reserve Bank of Australia (RBA) kept the official cash rate on hold at the current level of 0.1%](https://www.rba.gov.au/statistics/cash-rate/ "RBA holds official cash rate at 0.1%"). The last time the RBA changed the rate was in November 2020 when it cut rates from 0.25% to 0.1%. While April’s decision was not a surprise to most, it comes amidst a commentary by some in the economics space for the RBA to increase rates to curb the surge in house prices. On the back of the historic low interest rates, home buyers are forging ahead with purchases which is pushing house prices up to extremely high levels in some areas. But Governor of the RBA, D Philip Lowe, has, on several occasions, publicly stated that it is not his intention to lift rates until key indicators are met. To provide clarity for those with current car finance and those planning on new vehicle loans, we cover several key points from both the local and international economic scene. ## RBA Statement The statement issued by the RBA regarding the interest rate announcement notes that while the vaccine rollout is supporting economic recovery globally, that recovery is not even. It noted that while global trade had increased and commodity prices were higher than at the start of 2021, inflation remained below its targeted level to trigger any interest rate increase. The statement goes on to highlight that Australia’s economic recovery is proceeding better than expected with strong GDP figures in the December quarter and while still too high, the unemployment rate falling again in February. ‘Above-trend’ growth is expected both in 2021 and next year. Spending should continue to be supported with good balance sheets for both businesses and households. Subdued pressure on wages and prices was noted, with this expected to continue for several years. Despite consumer price index (CPI) inflation being expected to temporarily rise due to COVID-19 related issues, inflation is expected to stay sub 2% over the coming years. In regards to lending, the statement notes that the RBA will be monitoring the trends in home loans closely and mentions the importance of maintaining lending standards. In closing, the RBA Board stated its commitment to supporting the economy through its monetary policy until it has achieved its goals. In a very strong indication of the RBA’s intentions around any interest rate increases, it said it would not increase the official cash rate until the 2-3% actual inflation target was achieved and sustainable. This was not expected to occur before 2024. ## International Economic Indicators A day after the RBA meeting, the IMF also issued a statement that gave a very positive growth forecast for Australia. The IMF Chief Economist, Gita Gopinath, said the IMF forecast the Australian economy to expand by 4.5% in 2021 which was an increase on the 3.5% forecast it gave in January. Essentially upgrading the outlook and indicating Australia’s good recovery and bounce back as a result of the coronavirus pandemic. [More info](https://www.afr.com/policy/economy/australia-stars-as-imf-paints-bleak-pandemic-picture-20200624-p555kt "Link to the AFR's analysis of Australia's pandemic situation"). These growth forecasts are of course on the back of the 2.9% contraction experienced in 2020 during the pandemic crisis but overall, it appears that Australia is doing much better than many other countries. ## Motor Vehicle Finance Interest Rates While Dr Lowe expects the official cash rate to stay low until 2024, does that mean lending rates such as for car loans will remain at the current historic low levels? The official cash rate is the rate for lenders to source finance from other lenders. But as the financial sector operates on a global level, as noted by some in the media, some lenders may be sourcing funds from international markets. Markets where the rates differ. To arrive at their lending rate, lenders use the cash rate as a base but would also have their own business and operational costs to factor into their loan pricing as well as allow for their approach to lending to certain sectors, including [ABN car loans](/abn-car-loan "Explore car financing options for ABN holders"). Hence the variations in interest rates on car finance across the lender market. But the motor vehicle finance sector is highly competitive and lenders will no doubt want to remain ‘in the mix’ for customers seeking finance. [Jade Car Loans](/ "Your source for automotive finance: Jade Car Loans") is accredited with multiple lenders so we always have a vast selection of lenders, both banks and non-bank, from which to source the cheapest car loans at the best interest rates for our customers. As extremely active lenders engaged with both the consumer and business vehicle finance sectors, we welcome the RBA’s decision to hold rates at the current low levels. This will enable our Jade Car Loans consultants to continue to offer our customers cheap [business car loan interest rates](/car-finance-interest-rates "Discover the best business car loan interest rates") across our loan portfolio. Also, whilst comparing competitive vehicle finance rates on our website, refer to the [commercial car finance calculator](/car-finance-calculator "Find helpful commercial car finance calculation resources") to figure out lending options for your motor vehicle. The RBA Board is scheduled to next meet regarding interest rates on the first Tuesday in May and we will continue to stay abreast of any issues that may impact the motor vehicle finance sector. **To discuss your requirements contact 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Buying a winter escape vehicle? Consider the Subaru XV Hybrid](https://www.jadecarloans.com.au/blog/buying-a-winter-escape-vehicle-consider-the-subaru-xv-hybrid) **Published:** April 15, 2021 **Author:** Publisher **Content:** Winter is approaching, borders are open (for now) so as the chill starts to creep in, thoughts turn to escaping to crisp mountain air destinations. With the Trans-Tasman travel bubble opening, there is sure to be a horde of winter sports enthusiasts heading across the ditch to enjoy the amazing NZ ski fields. But for those who choose to enjoy winter in Australia, a driving winter escape could be on the cards. Roads in alpine regions, across the tablelands and ranges and in many rural areas are prone to snow, ice and frost, presenting challenging and at times risky driving conditions. For that winter escape, you may be seeking a suitable vehicle. If [low interest rates](/blog/interest-rate-update-april-2021 "Explore our competitive interest rate options") weren’t enough of a reason, this could be a great excuse to update your vehicle through [new business car finance](/new-car-finance "Learn about loans for new company cars"). Before the current surge in popularity of SUVs and the massive increase in the number of makes and models in the market, apart from the rugged utes and work vehicles, the trusty Subaru was one of the most popular vehicles in mountain areas. For locals, lodge owners, rural property owners and residents, vehicles such as the Forrester provided wagon space for supplies when they headed to town plus the AWD capabilities to take on tougher than average road conditions while offering the attributes of a car rather than a truck. Subaru continues to impress and has launched a new 2021 model SUV that could suit your winter escape plans perfectly. The [2021 Subaru XV L AWD Hybrid](https://www.carsguide.com.au/ev/subaru-xv-hybrid-2021-review-l-82380 "Access details about the 2021 Subaru XV L AWD Hybrid model") appears to tick a lot of boxes for both city and country drivers. The advertised price range for this top of this range variant around $40,000 plus on roads, With our low interest car loans, it also might tick your affordability box. Head to our [business vehicle finance calculator](/car-finance-calculator "Navigate our business auto financing calculator options") for a rough repayment estimate right now. There are several variants in the XV range which come in at lower prices. Then read on for some of the key features we’ve noted and the finance options available. ## Subaru XV L AWD: Specs and Features This model has a 2 litre, 4 cylinder hybrid engine, petrol and electric, with CVT transmission and all-wheel drive capabilities. When purchasing an SUV it’s important to clarify the capabilities regarding driving capabilities. Not all models are all-wheel or four wheel drive. Many SUVs are two wheel drive (2WD) or front wheel drive (FWD) which while being higher off the ground, do not give the same performance and capabilities to take on challenging terrain and some road conditions. In the XV range, there are three models: 2.01i, 2.01i-L and the Hybrid L, all with the trademark Subaru AWD. A key notable of these updated models is the tech. All have great tech features including the [Subaru Intelligent Drive system](https://www.subaru.com.au/driver-monitoring-system "Explore Subaru's advanced driving features with Intelligent Drive") and varying driver assists, connectivity and infotainment across the selection. It also has that all-important 5 star ANCAP rating. Subaru is a very comfortable vehicle, If you’ve not driven in one, worth trying, as it offers a very comfortable drive. Providing the feeling of driving a compact car but offering the versatility and flexibility of great cargo space with a 60:40 back set split and the capability to take on tough terrain. Select the hybrid option and you’re also in for even greater engine efficiency. The company offers quite a large colour selection compared with many other manufacturers. Your chance to add your personal touch to your drive. Picturing yourself heading off on a mountain escape in your new Subaru XV? Let’s make it happen with a cheap car loan. ## Finance Options With the RBA leaving the cash rate on hold for yet another month, car buyers can continue to take advantage of historic low interest rates on [Jade car loans](/ "Explore financing options from Jade Car Loans"). How low? Private buyers can refer to our lender [business car finance interest rates](/car-finance-interest-rates "Link to our website to learn about business car finance interest rates") comparison chart to see how Jade’s cheap rate on Secured Car Loans compares with other lenders. Business buyers can refer to our Loan Comparison Chart to compare our rates across our different loan products. For private car buyers, our Secured Car Loan is universally suited to most buyers and most vehicles with fixed loan elements over the loan term. [Commercial car finance](/business-car-finance "Get started with commercial car financing for your business") buyers can select from our range of motor vehicle finance products and tailor the loan with the balloon/residual option, to suit individual cash flow and budgeting requirements. - Chattel Mortgage - [Motor Vehicle Leasing](/car-lease "Access details about our car lease services") - Commercial Hire Purchase for Cars For a quick quote and/or to get the process started, give us a call or apply online for convenience. You will be assigned one of our licensed finance professionals to handle your loan from sourcing quotes to handling settlement. **Contact 1300 000 003 to discuss lending on a new Subaru XV.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Alert: Fraudulent invoice scam catching out car buyers and sellers](https://www.jadecarloans.com.au/blog/alert-fraudulent-invoice-scam-catching-out-car-buyers-and-sellers) **Published:** April 19, 2021 **Author:** Publisher **Content:** Hackers, fraudsters and scammers can wreak havoc and devastation on both individuals and businesses and staying across the latest tricks and schemes these criminals are using is challenging. Currently, there is a scam being used that involves fraudulent business invoices. Incidents of these have been reported in several diverse industries including in the trades and have left victims out of pocket for significant amounts of money. While there are sadly many scams running and authorities report an increase in activity due to COVID-19 issues, this one has caught our attention at [Jade Car Loans](/) as it involves a car purchase. Reportedly two buyers of a high-end vehicle brand have become victims of the fraudulent invoice scam. This is a red flag for our team and we bring it to the attention of all car buyers, whether a Jade customer or not. Buyers handling their vehicle purchase settlement may be most exposed. ## Fraudulent Email Scam: Explainer ### The basics of this scam are: - The scammers hack a business’ email system and intercept genuine emails with genuine invoices to the business’ customers for goods/services that have genuinely been delivered. - The scammers change the banking details on the invoice to their bank details and then send the invoice to the customer. - The unsuspecting customer, who has received the goods/services from the supplier, proceeds to pay the invoice for the amount to the banking details on the invoice. - The scammer and not the supplier receive the funds. - The supplier then seeks payment for the unpaid invoice from their customer only to uncover the scam. [Read for more information](https://mypolice.qld.gov.au/news/2020/08/07/online-car-sales-scams/). Reports of this happening have appeared several times in the media most recently regarding payment for a motor vehicle, especially in instances related to [car hire purchase](/commercial-hire-purchase "Link to our website to learn about car hire purchase"). Car buyers and sellers are strongly advised to be aware of the existence of this scam and if you are handling your purchase/payment take steps to ensure you don’t become a victim. ## Vehicle Ownership Scam Another scam reported in the news recently involved persons renting cars and then selling them as their vehicles. We don’t have the specifics of this case, but we suspect it most likely involved selling privately to private buyers. Fortunately, in these cases, the perpetrators were caught and charged by police. But it highlights the caution and care that must be taken when buying a car privately. ## Avoid Getting Caught - If making your payment for a motor vehicle, it can be advisable to double check the invoice payment details with the seller, both private and dealer, via a means other than email. - Checking may involve phoning them on a number that you are confident is genuine, not necessarily a contact number on the invoice as that may have been altered. - Pay particular attention to the name of the bank account on the EFT payment details. Dealers can have different business names to the name of the dealership, their pty ltd company or as part of a group. But it is worth checking if you are in the slightest doubt. - When purchasing any motor vehicle, buyers should make the necessary ID, rego and [PPSR checks](https://www.ppsr.gov.au/ "See how we offer reliable PPSR check solutions") to confirm the ownership and identity of the seller and the vehicle. Especially if paying cash and not seeking finance for the purchase. ## How Jade Can Assist Car Buyers While we are not privy to the specific details of the incidents reported, it does highlight the benefits of using a finance-broker style lender such as Jade Car Loans to handle your [new commercial car finance](/new-car-finance "Access details about our financing services for new commercial cars"). Our services are available to both personal car buyers and business vehicle purchases. Both individuals and businesses are welcome. While we constantly stress the benefits of using Jade’s services to source cheap [car loan interest rates for businesses](/car-finance-interest-rates "Get insights into our corporate vehicle financing interest rates"), our services offer car buyers several other very important benefits. Our customers are assigned a highly-trained and licensed finance professional to handle the entire car loan process. Our consultants handle the vehicle checks to ensure the validity of the vehicle and ensure all details match up. The ID of private sellers is checked to ensure they are the legal owner of a vehicle. While handling the loan negotiations and assisting customers with the application paperwork, we also handle the critical final step of settlement. This is the stage when the lender pays the seller for the vehicle. We liaise with the lender and seller directly to affect the payment. Our professional consultants and lenders are trained to look out for any inaccuracies in invoices and other vehicle sale paperwork. Unfortunately, fraudsters, hackers and scammers are a reality and can operate very sophisticated schemes that may not be identified and detected by authorities until victims are caught. If purchasing a vehicle with finance, using a reliable and reputable lender to assist you can deliver many benefits. **Contact 1300 000 003 to discuss how we can assist.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Commercial Categories – 2021 Car of the Year Awards](https://www.jadecarloans.com.au/blog/commercial-categories-2021-car-of-the-year-awards) **Published:** April 21, 2021 **Author:** Publisher **Content:** When deciding on a ute or van, business owners need to weigh up numerous factors including suitability to the task, cross-over potential to rec and family use, reliability and very importantly price. But with these categories, some of the most competitive in the motor vehicle market, finding the time to study each ‘contender’ in detail can be a challenge too far. Fortunately, it’s not too much of a challenge for the motoring experts at Drive who each year judge and release their [Car of the Year awards](https://www.drive.com.au/news/the-2021-drive-car-of-the-year-overall-winner/ "Learn about the top vehicles in the Car of the Year competition"). These awards cover multiple categories, so many in fact, that we’ve split our coverage of the finalists and winners into multiple articles. As serious work vehicles are a major part of our market as a motor vehicle lender, we’re focussing on vans and utes solely here. But not solely on the vehicles. At [Jade Car Loans](/ "Get started with car financing at Jade Car Loans") we also cover finance options and assist in how you can secure the cheapest loans to own your car of the year. ## Car of the Year – Dual Cab Chassis Utes This is an extensive and growing market segment as the humble, workhorse ute has been elevated from the work site only to a luxury all-round vehicle for business owners and operators across multiple industries. The category is also favoured by many boat owners, caravan owners, mountain bike and off-road motorbike owners as much as for business purposes. Discussion around which is the best make and model is sure to be robust between avid and loyal fans of one or another manufacturer. But many makers have lifted their game significantly in this category, adding tech, comfort, safety and luxury features to attract more buyers. So which ones attracted the attention of the Drive judges and why? From a large market, the intensive and exhaustive judging process finally narrowed the contenders down to the requisite three finalists – Mazda BT-50, Isuzu D-Max and Ford Ranger. No doubt contenders are becoming contentious in the minds of some owners, considering the Toyota Hilux regularly tops out the best-selling lists. But the Hilux narrowly missed out on Ranger as a finalist. But these judges have their own criteria. The winner from this stellar line-up, by a nose, as noted by the judges, is [Isuzu D-Max](https://www.isuzuute.com.au/ "Learn about the benefits of the Isuzu D-Max"). ## Commercial Vans The humble white van is another vehicle that has morphed from simple practicality into a more stylish and image-conscious personality. The makers in the category have also upped their game and buyers have several great options to consider. So what did the awards judges consider the best? The finalists for car of the year in the commercial van category are [Toyota Hiace](https://www.toyota.com.au/hiace "Get insights into the Toyota Hiace's versatility"), Peugeot Expert and the iconic Ford Transit Van. The judges deemed the Hiace as the 2021 Winner. Always a top-selling and now another award to the collection of accolades for the manufacturer. Of course, buyers will make their judgements and no doubt consider many of the others in this category before deciding on their purchase. Awards aside, for many buyers, it will come down to price, or more specifically, affordability. While judging winners is difficult, comparing prices is easy. You can use our [Business Car Loan Calculator](/car-finance-calculator "Link to our website for business vehicle loan calculations") or [Business Car Loan Interest Rates](/car-finance-interest-rates "Visit our page for information on interest rates for business auto loans") Comparison to derive estimated repayments on any number of van makes and models. The loan product calculator allows you to also see the different repayments for our range of finance products. ## Winning Finance Options We judge our Jade Car Loans commercial finance deals as winners in the affordability as in interest rates stakes. We vie for the cheapest interest rates across our portfolio so our customers are the ultimate winners. With no apology for that cliché statement as it is a reality. But we don’t have favourites or winners in terms of which of our loan products is the best. That decision is based on which finance product will deliver the most benefit and optimal outcome for your business. The choices include:- - [Car Chattel Mortgage](/car-chattel-mortgage "See how car chattel mortgage can benefit your business") - Vehicle Leasing - Vehicle Commercial Hire Purchase To decide on a ‘winner’ for your business, consider the treatment of GST and tax, balance sheet approach, suitability to accounting methods and other factors and speak with your accountant on these aspects. Interest rates also vary across commercial finance facilities but we offer [no deposit business car loans](/no-deposit-car-finance "Discover the benefits of our no upfront payment car loans for businesses") on all commercial vehicle loans. If getting behind the wheel of the COTY is on your schedule, just contact Jade and we’ll get onto arranging your finances so you can realise the tax benefits before EOFY. IAWO and temporary full expensing are available for eligible businesses and eligible asset purchases so you could realise that tax deduction in 2020/21 if you move now. **Contact 1300 000 003 to discuss how we can assist you with a great deal on a car of the year.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [When ‘cheap’ and ‘luxury’ are the preferred combination](https://www.jadecarloans.com.au/blog/when-cheap-and-luxury-are-the-preferred-combination) **Published:** April 26, 2021 **Author:** Publisher **Content:** It might seem strange to think that the descriptions ‘cheap’ and ‘luxury’ can make the perfect combination. But when purchasing a luxury sedan, ‘cheap’ is a serious consideration. While buyers of luxury saloon cars appreciate the value for money of the precision engineering and manufacture and the high quality comfort and luxurious finishes of such vehicles, they most likely also want a good price. So when you’re talking [car loans](/ "Get started with vehicle financing") on luxury sedans, cheap is what most buyers will be seeking. Cheap finance is smart stylish and highly desirable at any car price point. When you’re buying high-end, the luxury sedan makes the statement and does the talking. Behind the scenes, getting the keys to a luxury model with cheap finance is highly achievable. No one turns their nose up at ‘cheap’ when talking motor vehicle finance interest rates. The EOFY, 30 June, is a very popular time for businesses to upgrade their vehicles to take advantage of available tax deductions in the current financial year. But despite the appeal of potential tax deductions, astute business owners also want value for their luxury sedan purchases. Not only in the vehicle pricing but most importantly in the finance package. With the high-end pricing of luxury saloons, securing a tailored finance deal at a cheap interest rate can be extremely important to cash flow not only for EOFY but over the full term of the finance. Jade Car Loans specialises in securing [low business car loan interest rates](/car-finance-interest-rates "Get insights into our corporate vehicle financing interest rates") which can make your luxury sedan purchase a cost-effective investment. ## Luxury Sedan Market Sedans or saloon cars were the foundation models for most of today’s leading luxury car makers. But over the past decade, SUVs have surged in popularity and in some luxury vehicle ranges, the number of SUV models exceeds the number of sedan models. Despite this trend, the classic luxury saloon car remains a firm favourite with many business executives, especially those considering options like a low doc car loan in Australia. Jaguar offers the [XE](https://www.jaguar.com.au/jaguar-range/xe/index.html "Explore the XE Jaguar model") and [XF](https://www.jaguar.com.au/jaguar-range/xf/models/index.html "Explore the XF Jaguar model") models. German maker Audi has a very extensive range of sedans with either a classic or sporty edge. From the A3 through to the top of the range [A8](https://www.audi.com.au/au/web/en/models/a8/a8.html). Mercedes-Benz is synonymous with luxury sedans and they too offer a wide range to include many buyer preferences. While the A and C Class models are perennial favourites, the new S Class Saloon is worth considering. This comes in a Saloon and Long variants with a plug-in hybrid available. Lexus also offers hybrids in the IS sporty model, the ES which retains the brand’s elegant design or the top of the range LS. But it is an upcoming model from BMW that is currently attracting a lot of attention, even up to a year before it is to be launched locally. Reports have it that orders are already being taken for the [BMW i4 Gran Coupe 2022 model](https://www.caranddriver.com/bmw/i4 "Link to our website to discover the 2022 BMW i4 Gran Coupe"). This is reported to be an electric 4 door coupe style vehicle which will be available in several variants but the specs and the pricing is yet to be released. Whichever luxury maker and model is selected, astute buyers will be seeking an affordable finance package. ## Securing Cheap Finance on Luxury Vehicles As specialists in motor vehicle finance, Jade Car Loans have the products, lender accreditations and expertise to secure tailored business finance. We share a few tips on how we assist our customers and why engaging our professional lender services can result in a cheaper finance deal. - Don’t presume an impressive account balance will necessarily sway banks and lenders to offer a cheaper car finance deal. Many lenders, especially banks have guidelines and are not always negotiable. Due to the quantity of business, we write in the sector, we do have the bargaining power to secure cheaper interest rates and attractive terms. - Achieving the preferred percentage of the balloon/residual can be key to cost-effective luxury sedan finance. Using our online [business car loan repayment calculator](/car-finance-calculator "Navigate to our page for a car loan repayment calculator") will allow you to easily see what level you want to target to achieve the repayment amount that will work for your business. - Some lenders will have guidelines around the size of the balloon they will approve. Having the sharp negotiating skills of a Jade consultant handling those discussions on your behalf can be extremely productive. - Think twice before seemingly conveniently accepting an offer of finance from the motor vehicle dealer. Most dealers will have a financial arrangement in place. But is it the cheapest offer you can source? While the dealer will usually only have finance available through one lender, Jade has multiple lender accreditations. We can scour a large swathe of the market to secure the cheapest interest rates and better loan offers. - Spend the time to consider the most appropriate finance product. Jade offers a full range of [best car financing deals](/overview-of-business-car-finance): Chattel Mortgage, Leasing and Commercial Hire Purchase. Due to the varying features of each product, consideration needs to be given to which will deliver the optimum benefit to your business. If you want to take advantage of IAWO, Chattel Mortgage is the most appropriate form of finance. Cheap finance deals can be achieved for all types of businesses, including those looking for [no doc car loans in Australia](/no-docs-car-loans-for-business-vehicles "Visit our page for insights into no doc car loans in Australia"). So when you’re buying a luxury saloon car, purchase with a cheap Jade finance deal to ensure the ideal combination for long term driving and ownership enjoyment. **For a cheap finance quote, contact 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Cars of the Year Revealed](https://www.jadecarloans.com.au/blog/cars-of-the-year-revealed) **Published:** April 29, 2021 **Author:** Publisher **Content:** The highly respected motoring experts at Drive have revealed their annual list of Car of the Year across several key categories. A list that is sure to generate robust debate amongst car enthusiasts and give buyers a guide to what these experts consider is the best in class. If you don’t feel you have the confidence or the ability to compare vehicles when buying, taking notes from what these experts consider the best vehicles in each category may be of great assistance to you. In this article, we take a look at the finalists and winners in passenger and SUV categories with other articles focussing on sports and commercial categories. We also provide loan options for how you could be driving your own 2021 car of the year. ## Category Winners In judging these awards, the team at Drive cover new vehicles across seven categories. They narrow their selection down to three finalists per category before deciding on a winner in each category. Then those seven are in the running for the top gong. The categories cover a wide range of vehicles so you should be able to find a winner in the category you’re considering. The awards also cover multiple other classes – passenger cars, SUVs, light commercials and sports cars. So plenty for potential buyers to consider. ## Here are the category finalists and winners:- ### Passenger Cars While SUVs have surged in popularity, the classic passenger car is still the vehicle of choice for many buyers. The awards cover small through large and standard through luxury to give you plenty of food for thought. - City Car finalists were [VW Pothe lo](https://www.volkswagen.com.au/en/models/polo.html), Kia Rio and Suzuki Swift with the Polo the judges’ choice as the winner. These are cars under $20,000 so some good contenders for the budget-minded buyer. - Small car finalists Mazda 3, [Toyota Corolla Hybrid](https://www.toyota.com.au/corolla/hatch) and Hyundai i30. The Corolla took the winner’s podium for 2021. Great for practicality and fuel efficiency. - Luxury small car finalists make an impressive line-up of German engineering excellence with the Mercedes-Benz A Class, BMW 1 Series and Audi A3. [Winner- Audi A3](https://www.audi.com.au/au/web/en/models/a3/a3-sportback.html). If you’re wondering how much extra per month in loan repayments a little extra luxury may cost you, use our loan calculator to compare city v luxury small car finalists. - The medium to large category finalists were the Skoda Superb, Kia Stinger and the classic Toyota Camry. The best in this category was judged as the [Camry Hybrid](https://www.toyota.com/camryhybrid/). Sales across this category have dropped in recent years with a spike in the popularity of SUVs. But for many, this is still the ideal vehicle type for their needs. - From the standard mediums to the luxury medium we find Audi A5 and the [BMW 3 Series](https://www.bmw.com/en-au/models/3-series.html) vying for a podium finish with BMW pipping the Audi at the post. - At the top of the size, large luxury category, a quite competitive field no doubt caught the judges’ eyes with the Genesis G80, [Audi A6](https://www.carsguide.com.au/audi/a6) and Mercedes-Benz E-class making the finals. The eventual winner- the A6. This category is executive vehicle territory and with tax measures on the table, check out our cheap interest rates across the commercial finance products. - People movers are popular with families as well as hire cars, tourist and travel operators and community and sports groups. The finalists in this category were [Mercedes-Benz V-Class](https://www.mercedes-benz.com.au/vans/en/v-class), Toyota Granvia and Kia Carnival. ### SUVs This vehicle category has grown enormously in recent times and manufacturers have responded to the market, or is it the market responding to manufacturers, with most including at least one if not several SUVs in their line-up. So much so that the awards include 11 categories of SUVs:- - Light SUVs are now giving small cars a run in the popularity stakes and finalists were [Ford Puma](https://www.ford.com.au/suv/puma/), Hyundai Venue and VW T-cross with the winner judged as the blue Oval’s Puma. - Small SUVs differ from light with finalists in this category the Kia Seltos, [Skoda Karniq](https://www.skoda.com.au/models/kamiq-family/kamiq-signature) and Mazda CX-30. Winner – the Skoda. - Medium SUVs suit a lot of buyers and the market is vast and competitive. The winner, [Toyota RAV4 Hybrid](https://www.toyota.com.au/rav4) was chosen from fellow finalists Mazda CX-5 and VW Tiguan. - For that little extra, there is the medium luxury category with finalists BMW X3, [Volvo XC60](https://www.volvocars.com/au/cars/xc60/) and Land Rover Discovery Sport with the winner – Volvo. - In the upper large category, the Nissan Patrol came out a winner against fellow finalist Toyota Landcruiser. - Large SUV differs from the upper large with finalists in this category – Skoda Kodiaq, Hyundai Santa Fe and [Kia Sorento](https://www.kia.com/au/cars/sorento/features.html) with the Kia taking it out. - Large luxury takes it to another level with finalists [VW Toureg](https://www.volkswagen.com.au/en/models/touareg.html), Genesis GV80 and BMW X5 with the VW considered the winner. - Upper Large Luxury SUV: This category includes SUVs with three rows of seats and 7 seaters. The finalists were BMW X7 and [Mercedes-Benz GLS](https://www.mercedes-benz.com.au/passengercars/mercedes-benz-cars/models/gls/suv-x167/specifications.html) with Merc prevailing as the winner. - Small luxury finalists were Audi Q3, [Volvo XC 40](https://www.volvocars.com/au/cars/xc40/) and the Mercedes-Benz GLA. Winner – Volvo! - Not all SUVs have off-road serious capabilities so the off-road SUVs have their category in the awards. Finalists: Jeep Gladiator, Ford Ranger and [Land Rover Defender](https://www.landrover.com.au/index.html). Winner: Land Rover. - Sports SUVs also have their category with finalists including Audi RS Q8, [Porsche Macan](https://www.porsche.com/australia/models/macan/) and BMW X5 M with Porsche winning from this field of German manufacturers. ### Electric Vehicles Australia has been slow on the uptake of EVs but the segment is growing and has its category in the awards. The finalists were the Audi e-tron, MG ZS EV and Tesla Model 3. Winner – Audi. ### Overall Car of the Year So after all those individual categories and multiple vehicles to consider the Drive judges have awarded the Kia Sorento as their 2021 car of the year. You can check out the judges’ assessment and reasons for their decisions at [www.drive.com.au](http://www.drive.com.au) ## Securing Your COTY These awards give buyers a great way to compare what experts consider the best in class. [Jade Car Loans](/ "Learn about auto loan services from Jade Car Loans") gives you the tools to compare repayments across categories, models and winners. Simply enter the vehicle price in the loan amount as we can offer no deposit finance, and see the repayment estimates. Our most popular loan categories include:- - Personal [Secured Car Loan](/secured-car-loans "Navigate to our page for details on secured car loans") - Sole trader vehicle loans - Business Car Leasing - [Business Hire Purchase Cars](/commercial-hire-purchase "Get started with hassle-free business vehicle hire purchase") We don’t judge ‘winners’ in our loan categories as finance is selected to specifically suit the buyer. Whether it’s a standard car loan or a [low doc business car loan](/low-docs-car-loans-for-business-vehicles "Access details about our low doc business car loan services"), our consultants individually negotiate the cheapest car loan deal for each of our customers. To find out what your cheap repayments will be on one of the awards finalists or winners, contact us for a quote. **Contact 1300 000 003 for a quote on a car of the year winner or finalist.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Motor Vehicle Purchasing & Federal Budget 2021](https://www.jadecarloans.com.au/blog/motor-vehicle-purchasing-federal-budget-2021) **Published:** May 3, 2021 **Author:** Publisher **Content:** The Federal Treasurer, Josh Frydenberg, brought down the annual [Federal Budget on Tuesday 11 May](https://archive.budget.gov.au/index.htm "Learn more about the key highlights of the May 11th Federal Budget") with plenty of winners across multiple sectors. As expected, anticipated and leaked before the official speech, this is a very big-spending budget with a focus on jobs and recovery in light of the effects of the coronavirus pandemic on the economy. Several key sectors feature heavily in the spending including aged care following the findings of the Royal Commission, support for women in various measures and a continuation of the major spending on infrastructure. After the huge stimulus packages introduced just over a year ago followed by the October budget announcement of the delayed 2020/21 Budget which further extended some measures, what were you expecting in the 2021/22 Budget? We briefly outline the key elements that have an impact specifically on our area – motor vehicle lending and business investment and will go into further detail in future articles. ## Economic Outlook The economic figures have defied the worst-case scenario with unemployment currently at 5.8% and expected to fall below closer to 5% and below into and through 2022. Economic growth is on a good tracking. One of the keys to some sectors is [international border openings and this is not expected until 2022](https://www.abc.net.au/news/2021-05-11/federal-budget-2021-borders-international-travel-vaccines/100132620 "2022 international border openings"). Not good news for those in travel and tourism but targeted measures for these industries have been included in the budget. As expected the deficit is, as all and sundry have described, eye-watering, but has been revised down by over $50 billion from previous estimates. What this will mean for future budgets, we’ll just have to wait and see. ## Winners in Business As major lenders to the motor vehicle sector, [Jade Car Loans](/ "Secure your dream car with Jade Car Loans") are pleased to see temporary full expensing and Instant Asset write-offs for eligible assets and businesses extended through to 2022/23. This allows eligible businesses to fully deduct the cost of eligible assets in the year of purchase. This was already in place for the 2021/22 financial year and the further extension may enable businesses to schedule additional investments over several years. It may mean the purchase of several business vehicles over several years to upgrade an entire fleet can now be planned. Another key business measure to be extended into 2022/23 is Loss Carry Back. We have covered this in detail in previous articles and will provide additional refresher updates in coming articles. But in brief, if your business makes a loss in the eligible years but a profit in earlier eligible years, you can claim the loss against previous profits rather than carrying it forward to claim against hopefully future profits. [More information](https://www.smartcompany.com.au/budget-2021/budget-asset-write-off-scheme-extended-smes/). If a loss is carried back, a business can be refunded the relevant amount of tax that was paid earlier. Effectively getting a cash injection when the tax return is submitted. Infrastructure spending is massive and for those in construction and related sectors, the earmarked projects may mean business opportunities ahead. Opportunities that require investment in new vehicles. We’ll detail these in another article. Read more on infrastructure plans for the 2021/2022 budget. Small businesses are also in line for assistance in specific areas. ## Individual Tax-Payer Measures The big win for individual taxpayers is the extension of the [Low and Middle Income Tax Offset (LMITO)](https://www.accountantsdaily.com.au/tax-compliance/15676-a-temporary-stimulus-measure-1-080-tax-offset-extended) for another year. This was flagged pre-budget so a bit of an anti-climax on budget night. The amount you may receive is dependent on your income with those earning between $48K and $90K per year standing to receive the maximum $1080. This is an offset, so it is accounted for when you submit your tax return. A good reason to not delay getting your tax return finalised and submitted. For those in the relevant tax brackets, it can mean a handy cash tax return is coming your way. Possibly facilitating the purchase of a new car by having that little extra as a buffer for your budget, to put down as a deposit to reduce your car loan or to make additional payments on a [Secured Car Loan](/secured-car-loans "Learn about secured vehicle loans for your next car purchase"). As mentioned above, international borders are expected to be closed till well into 2022 so that means many more Australians will need to keep planning to holiday at home. A great reason to plan some interesting road trips in a new car. ## Interest Rates Implications Changes to interest rates on lending, including rates for a[ low doc business car loan](/low-docs-car-loans-for-business-vehicles "Discover the benefits of low doc business car loans"), are not announced in the Federal Budget as the Government is not responsible for setting interest rates. That is the responsibility of the RBA (Reserve Bank of Australia). However, the policies introduced by the Government in the Budget do impact the economic indicators that the RBA looks to when making their decisions on interest rates. Keys are the inflation and unemployment figures. The RBA has previously and continually stated it would be looking for unemployment to possibly sub 5% and [inflation in the 2-3% range](https://www.rba.gov.au/inflation/measures-cpi.html) before increasing the official cash rate. Based on the forecasts by the Treasurer in the 2021/22 Budget, it could be expected that the RBA’s forecasts of keeping interest rates at the current low levels through 2022 are on target. So no change to interest rates on our Jade Car Loans due to the budget announcements, even for those considering [new business vehicle finance](/new-car-finance "Visit our page for insights into new corporate vehicle finance"). This is just a brief overview and is mindful that the Budget is a Bill that has to be passed by the Australian Parliament before it is officially in law. We’ll bring you a more detailed analysis of key measures in future postings and we’re ready to take your call if you would like to proceed now with that new car purchase. **Contact 1300 000 003 to discuss your requirements with one of our consultants.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EOFY Car Deals and Discounts: should you buy now?](https://www.jadecarloans.com.au/blog/eofy-car-deals-and-discounts-should-you-buy-now) **Published:** May 6, 2021 **Author:** Publisher **Content:** As we edge closer towards that critical 30 June date, savvy car buyers will already be checking out the deals on new vehicles being offered in the market. Not all dealers and manufacturers will wait until June many have already started advertising deals and discounts across many models. To assist our customers, we’re bringing a few to your attention so you can get in while stocks last. Plus we share a few tips to ensure you’re getting the deal you expect. Dealers can sell more cars in June each year than in any other month of the year. So stocks of popular models could move fast and dealers could be flat out. So getting in early, in May, can work in your favour. Often there are limited stocks, possibly runout models and even demonstrators. Being early, you have a better chance of your selection of colour and features. You may also get better service and faster delivery before they swing into full EOFY sale speed. While it could be a week or two early for all sales to get into action, we perused the sector and came up with a few to mention at this stage: - [Mitsubishi](https://www.mitsubishi-motors.com.au/ "Buy New Cars, 4WDs, SUVs, Utes & Hybrids | Mitsubishi Motors Australia Ltd") is advertising their EOFY with special offers across many models including the Eclipse Cross, Mirage, ASX and Outlander. - [Kia](https://www.kia.com/au/shopping-tools/offers/car-offers.html "Kia Special Offers & Deals | Kia Australia") also has their EOFY sale banner on the website. But some of the offers expire on 31 May, so get in quick for Sportage, Stonic, Stinger and others. - Hyundai has a runout offer on the Tucson Active and we’ve spied bonus for ABN holders on the iLoad. - Individual Toyota dealers appear to have some deals available. Possibly the main EOFY deal to come. - [Mazda](https://www.mazda.com.au/ "Mazda Australia") is already spruiking their EOFY sale with discounts across the range. - Volvo has a $5000 cashback offer across the XC90 range until 30 June 2021. - For ute buyers that find a Raptor or HiLux beyond the budget, even at sale time, considering the GWM Ute range could be an option. ## What’s the deal? - That’s the first question you should be asking when buying any vehicle on a special sale or offer. What exactly am I getting in this deal? We’ve collated a few tips from the experts to assist buyers in navigating the EOFY car sales. - Be aware that the vehicle might be an earlier model year and may not retain as high resale value as the current model year. But for many, that is not an issue and an earlier plated vehicle is acceptable, especially if it comes in at up to thousands off the price tag. - Ensure the dealer clearly outlines what the price reduction is or what the extras included for ‘nothing’ are. Study the details of the deal and the advertisement so you are confident that this is a good deal. The price reduction or extras might be additional options and accessories that you don’t need or want. Opting for the non-optioned, non-sale alternative model might offer better value and better suitability. - Compare offers from dealer to dealer of the same manufacturer where possible. Some EOFY deals are from the manufacturer and hence should be the same at all dealerships while others may be dealer-based offers. - Drive-away versus plus on-road costs should be checked closely and ASK if there are any other deliveries or other charges to be added. - If the special offer is regarding finance, speak with [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing") for a competitive quote to compare. We pride ourselves on always offering cheaper interest rate car loans. There can be several pitfalls with dealer finance compared with our broker-style loans, so don’t jump in before speaking with us. ## Finance for Sale Vehicles If you’re purchasing a new vehicle at an EOFY or other sale, rest assured, that the same personal car loan and business vehicle finance products apply to vehicles purchased outside of a sale. When surveying the EOFY sale car market, constantly refer to our calculators to calculate estimated loan repayments. For private buyers, our lender interest rate calculator allows you to instantly see how our Jade car loan interest rates compare with other major lenders. By entering the amount you are seeking to borrow and your preferred loan term, you’ll immediately see the repayment estimate. Click here to compare our online [business car loan interest rates](/car-finance-interest-rates "Unlock New Commercial Vehicle Loan Solutions") across various lenders Australia-wide. For business buyers, our interest rate calculator displays our current achievable rates on the different finance products: [Car Leasing](/car-lease "Lease a Commercial Car"), Commercial Hire Purchase and [Sole trader Vehicle Financing](/car-chattel-mortgage "Sole Trader Car Financing: Empowering Your Business Mobility"). Input your loan details to see how repayments may vary across the loan types. Business buyers are also encouraged to use the loan calculator where you can also input a balloon/residual amount to start formulating how you would like your finances structured. Jade Car Loans offers [no deposit car finance](/no-deposit-car-finance "Zero Deposit Vehicle Loan") on both full-priced and sale vehicles. Speaking with us to arrange pre-approved finance can be especially savvy when heading to the EOFY car sales. Having your finances locked in may place you in a stronger bargaining position to haggle a little more out of the dealer. We’re staying across the EOFY car sales and will post more updated information as more manufacturers start full-scale promotions. In the meantime, why wait? Get your pre-approved finance organised and start doing your research on which model you will be targeting in the sale event. **Contact 1300 000 003 to discuss pre-approved finance to take advantage of EOFY car sales.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Motoring Experts Award Sports Cars of the Year](https://www.jadecarloans.com.au/blog/motoring-experts-award-sports-cars-of-the-year) **Published:** May 10, 2021 **Author:** Publisher **Content:** While SUVs and utes are the best-selling vehicle categories overall, the sports car category must take out honours for the most aspirational. The decision-making process around which particular sports car to purchase can be intense with numerous amazing models from leading makers across a large price range. To assist buyers, and no doubt willingly indulge their passion for motor vehicles, the team at Drive undertake the arduous task of reviewing and assessing many of the current models. Each year they award their car of the year across many categories including a sports car. If you’re in the market for a sports car, then read on and see if one of their finalists or winners suits your wish list. The categories are sports cars over and under $100,000 and sports performance. The judges narrowed the vast selection down to around 3 finalists before awarding their ultimate winner in that category. ## Finalists and Winners The exhilaration of driving your own sports car doesn’t necessarily mean pushing your budget to its limits. There are some sensational models in what could be considered quite an average or modest car price range. In the sub $100K price category, the Drive judges announced finalists for 2021 car of the year as Ford Fiesta, Mercedes-Benz A Class and Toyota Supra. The winner – the [Merc AMG A45-S](https://www.mercedes-amg.com/en/vehicles/a-class/hatchback.html). This Merc has multiple variants which cover a $45,000 to $94,000 price range. The Ford Fiesta ST is priced around the $33K mark, proving you don’t always need to pay the big bucks to get a sporty drive. Head to our car loan calculator to see how repayments may pan out for each variant to assist with your decisions. In the over $100K super sports car category an extremely quality field presented to the judges. But they narrowed it down to finalists Audi R8, Porsche 911 and of course, a Ferrari just has to be included – the F8 Tributo. It must have been a top job for the judges but they managed to assess the Porsche 911 Turbo as the winner. All these magnificent vehicles are considered acquisitions or possibly investments. Astute buyers will be looking to optimise their purchase with the cheapest finance deal available. As a first step, refer to our interest rate comparison calculator to calculate repayment estimates on each model for each of our range of car finance products. ## Sports SUV Awards If you’re wrangling with ‘heart or head’, your heart wants a sports car but your head tells you an SUV would be far more practical, there is a compromise. The Drive team have kindly included Sports Performance SUV as a category in their annual awards. The 2021 finalists in this category are the Porsche Macan, [Audi RS Q8](https://www.audi.com.au/au/web/en/models/q8/rs-q8.html) and the BMW X5 M with the winner – the Audi. This category delivers on performance and practicality and if secured with our cheap interest rate finance, we add affordability to the attributes. ## Sliding into a 2021 Sports Car of the Year Unlike literally having to lay on the footpath to access a low slung Lambo or Ferrari in tight 70s or 80s jeans (yes, that was a real thing back then) these current sports models are far easier to slide into. Both in terms of access for passengers and drivers and in terms of finance. Buyers have a choice of loan types to suit their requirements, all at our cheaper interest rates. ### For business buyers, our finance selection covers: - [Minimal doc car loans](/low-docs-car-loans-for-business-vehicles "Access details about our minimal documentation car loan services") - [Best Sole trader car financing](/car-chattel-mortgage "Learn more about the best car financing options for sole proprietors") - [Business Car Hire Purchase](/commercial-hire-purchase "Navigate to our page for details on business car hire purchase") If eligible and looking to take advantage of the Instant Asset Write-Off, then Chattel Mortgage would be the most suitable form of finance. But we always advise our customers to refer to their accountant on the selection of loan products. All business finance products offer the option for a balloon or residual. This is a percentage of the purchase price which is due for payment at the end of the finance term. Subject to individual lender guidelines, this amount can be set by the borrower to achieve the desired repayment amount. The larger the balloon the lower the monthly loan payment. This is a facility that is extremely effective for making higher-priced vehicles like some of the sports cars mentioned, more affordable every month. To see how the balloon affects the estimated repayments, head to our [business car repayment calculator](/car-finance-calculator "Visit our page for insights into car loan repayments for businesses") and enter the data for the sports car you’re interested in. Vary the balloon and see how the repayments alter. For private buyers, the [Secured Car Loan](/secured-car-loans "Access information about collateral-based car financing") is the most popular form of finance for all types of cars, regardless of performance features or price. When it comes to sourcing the best finance deal, just as the motoring experts have kindly narrowed down the cars to their best selection, our Jade consultants do the same when it comes to [approved car loans](/ "See how we offer reliable car loans with approval"). We do all the work in sourcing the cheapest quote from across our vast lender panel for sports car loans. Sports car loans are available across the wide price range that this category covers. **Contact Jade Car Loans at 1300 000 003 for a sports car loan quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Federal Budget 21/22 Incentives for Business Vehicle Acquisitions](https://www.jadecarloans.com.au/blog/federal-budget-21-22-incentives-for-business-vehicle-acquisitions) **Published:** May 12, 2021 **Author:** Publisher **Content:** While the [21/22 Federal Budget](https://budget.gov.au/ "Explore Federal Budget") is still to be passed into law and action by Parliament, the wide acceptance of the measures should indicate it will pass both houses. The policies and measures in an annual budget are scheduled to come into effect after 1 July but businesses start taking advantage of the measures in regard to the purchase of new motor vehicles. The Government is continuing with economic stimulus measures and in our field of interest, [car loans](/ "Navigate to our page for details on car financing"), providing incentives for businesses to purchase new vehicles. At the heart of this incentive is temporary full expensing. This measure was first introduced this time around (it has been introduced at times in the past) in the delayed 20/21 budget in October. But with so much else going in 2020 and early 2021, many business owners and operators may not have had the chance to seriously consider the benefits for their business and action new purchases. With EOFY approaching, now could be the time to swing into action. ## Temporary Full Expensing Update Temporary full expensing is an accelerated asset depreciation measure. The ‘temporary’ refers to the measure being in place for a limited time. In the current situation, it was originally in place until 30 June 2022 and has now been extended through to 30 June 2023. Accelerated depreciation refers to being able to depreciate or write-off the purchase price of the asset, in this case, motor vehicles, faster than under normal tax rulings. That means, claiming a tax deduction for the business for the amount of the depreciation. Normal rulings allow depreciable assets to be written off/tax deduction claim as a small percentage of the price over several years. Depreciable assets refer to assets such as cars and equipment which are purchased with a finance product that has depreciation as the tax-deductible component, such as [car loans for sole traders](/car-chattel-mortgage "Visit our page for insights into auto loans for sole traders"). This differs from Leasing where the repayments are considered an operating expense and a tax-deductible. Full expensing means business can claim the full purchase costs of these depreciable assets in full in the year of purchase. No need to wait years to claim the tax deduction of car purchases in small increments. The incentive factor lies in the business being able to claim a larger tax deduction, thus reducing their tax obligation. Theoretically, giving businesses less to pay and therefore more to spend on employing more staff or investing in other equipment. ## What’s the difference between temporary full expensing v Instant Asset Write-off? This is probably where some confusion may arise. Instant Asset Write-off was introduced as part of the early rounds of stimulus measures in April 2020 and was picked up and promoted by pretty much anyone selling eligible assets as well as lenders. If you hadn’t heard of IAWO during 2020, it would be very surprising. IAWO was limited to businesses with a certain level of turnover and to $150,000 in assets. In the October budget, IAWO was essentially superseded by temporary full expensing. They are both accelerated asset depreciation measures but the businesses and the asset value was expanded and increased with temporary full expensing. ## What vehicles are eligible? To be eligible as a business asset, a vehicle must be acquired for use in the business under ATO rulings. Subject to meeting ATO criteria, that may include passenger vehicles, utes, SUVs, vans, light commercials and other body types used in a business. To be eligible for full expensing, the vehicles must be purchased and used in the business after 7.30 pm (AEDT) on October 6, 2020 (the time the Treasurer announced the Budget) and 30 June 2023. For a business with aggregated turnover below $50m, the vehicles may be either new or used. For a business with a turnover in excess of $50m, only new vehicles are eligible. So that gives business owners a vast selection of vehicles to invest in and take advantage of the measure. ## What businesses are eligible? When first introduced, IAWO was limited to business with a smaller turnover. With temporary full expensing, that turnover was greatly increased to those with turnover less than $5 billion. A level that includes just about all businesses in Australia. Exceptions being the extremely large corporations. So ABN holders, owner-operators, SMEs, family businesses, partnerships and larger pty ltd businesses can be eligible for the measure. Note the mention above in regard to turnover and new/used vehicles. ## What Business Car Finance product is suitable? Chattel Mortgage is seen as the most appropriate finance product for businesses purchasing vehicles and looking to claim the accelerated depreciation through temporary full expensing. This is a very versatile type of loan as it suits many purchases and many businesses that use the cash accounting method. And it attracts the lowest interest rate of the range of commercial finance products available. Refer to our [commercial car finance rates](/car-finance-interest-rates "Link to our website to discover business car loan rate options") comparison tool to see what your repayments may be for the vehicles you are looking to purchase. ## Moving forward with purchase plans and business car finance It appears that there is no limit on the number of new assets a business can invest in and use temporary full expensing. So you may look to acquire a single vehicle or replace an entire fleet. You may choose to purchase one vehicle in this financial year, ending 30 June 2021 and another in the next financial year. If looking to purchase this year, you’ll need to have the vehicle operational in your business by 30 June. With that date fast approaching, speak with one of our Jade Car Loans consultants to arrange pre-approved finance so you’re set to sign when you get to the showroom to inspect. **Contact 1300 000 003 to discuss your motor lending requirements.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Sizing and Pricing Up For A New Ute on Finance](https://www.jadecarloans.com.au/blog/sizing-and-pricing-up-for-a-new-ute-on-finance) **Published:** May 19, 2021 **Author:** Publisher **Content:** With EOFY, temporary full expensing, low-interest rates and deals on offer, it’s a popular time for ute buyers to get out in force to size up the market for a new vehicle. Utes and cab chassis are some of the biggest selling motor vehicle categories for plenty of good reasons. The market is extremely strong, there are plenty of options and it’s highly competitive as manufacturers continually strive to outdo each other with specs, techs and comfort features on these versatile vehicles. With pricing also quite widespread, buyers with an eye on the dollar can be smart to check out some of the newcomers and the lower-priced options for value. Not just smart but essential is also checking out the finance options as interest rates and offers also vary across the lending market. Using our [business car loan repayment calculator](/car-finance-calculator "Visit our page for insights into calculating repayments for business vehicle loans") and interest rate comparison will quickly convert purchase pricing to more relatable loan repayments for the full range of finance options. ## Size Up: Top 2021 Ute Favourites Ute, cab chassis, whatever term you prefer, there is a solid selection of favourites and top sellers amongst the major manufacturers. - Ranger: A perennial award-winning podium placer in sales figures, Ford’s classic is a popular choice with tradies, boaters and adventure-seekers. The Ranger is available in several model variants and the new model is due in showrooms in July. [If considering pre-ordering your MY2021 model for July delivery, pre-arrange finance with us so you can confidently sign the sales contract](https://www.ford.com.au/showroom/future-vehicle/next-gen-ranger/). - [Amarok](https://www.volkswagen.com.au/en/models/amarok.html): With a 3-3.5 tonne towing capacity, up to 1,033 kgs payload, a very intelligent 4×4 system and a stylish design, this offering from Volkswagen is turning heads. Quite a wide price range across the variants, but with our no deposit finance, the entire price with all the extras you want can be included in your finance. - Navara: Loaded with power and tech, this is a tough and rugged machine with off-road capabilities and plenty going for it. [Multiple models in the range with prices for a basic single cab chassis in the low $30,000 range](https://www.nissan.com.au/vehicles/browse-range/navara.html), there’s sure to be one to suit many lifestyles and work applications. - Triton: Mitsubishi’s offering is in the mid-price range but maxed out with toughness and a solid 40-year reputation for performance. The double cab option allows for five adults, making this a great crew vehicle. Match it with the most affordable finance deal to ensure yours is also a great buy. - [Gladiator](https://www.jeep.com.au/gladiator.html): In the higher price range and with, arguably, utilitarian styling, the new Gladiator reflects Jeep’s heritage. A heritage built on hard work in challenging environments. Could be the vehicle to take on the competition in your challenging work arena. - BT-50: With multiple model options, 4×2 or 4×4, ute, cab and pickup options, Mazda’s offering certainly meets its complete package tagline. And there are EOFY deals on offer. Before you head into the showroom, pre-arranging finance can put you in the driver’s seat when negotiating the purchase price. - D-MAX: From a company renowned for building tough trucks, the Isuzu D-MAX has the goods to go to work and deliver. Stylish body shape and plenty of grunt up front, the D-MAX holds the coveted 2021 Drive award for best dual cab ute. - [Hilux](https://www.toyota.com.au/hilux): Is there anything more that can be said about this all-time bestseller from Toyota? It seems like HiLux has always been there and continues to grow in popularity. You have heaps of choices in models, engine variants cab/tray options and the backing of an Australia-wide service team. Use our calculator to compare HiLux deals with others in the range. ## Leading the US Charge - RAM: A truck or ute? Debatable as these vehicles are massive and bold, but on the high side of the ute price market. Converted from a left-hand drive, US vehicles can be financed with the same loans as others in the market. [The new RAM DT range is due later this year but the current models could be worth considering for those that really like a statement vehicle](https://www.whichcar.com.au/news/ram-1500-dt-series-coming). - Silverado: In a similar category as RAM, Chevy’s Silverado seems to have fast-growing popularity in Australia, based on sales figures. With over 100 years in the pick-up truck business, the Chevrolet range is distributed in Oz by HSV. ## Budget Buys While the mid to top-end price range vehicles are impressive, both in looks and performance, we fully appreciate that many operators will seek a workhorse at a more affordable price. Several relative newcomers onto the ute scene are pitched at the lower price market but claim great performance and features – LDV and GWM. While checking out the latest models from these manufacturers, refer to our calculator to see the difference in repayments between the different price ranges. ## Sizing Up Ute Finance Whether your use is for work purposes or private use, getting the cheapest interest rate loan is a common objective. We offer cheap rates across the full range of ute finance:- - Chattel Mortgage - Ute Leasing - [Car Hire Purchase](/commercial-hire-purchase "Access information about vehicle hire purchase plans") - [Secured Car Loans private buyers included](/secured-car-loans) Check out the features/benefits of each when making your loan selection and if looking to optimise your acquisition with temporary full expensing, then Chattel Mortgage would be the finance product to select. ## Pricing Up a New Ute on Finance We’ve made it quick and easy to price up your ute in terms of financial costs. Refer to our [commercial car loan interest rates](/car-finance-interest-rates "Link to our website to discover business car loan rate options") comparison calculator to see the different estimated repayments on the different interest rate finance products for the utes you’re considering. To plan how you’d like your loan structured, use our loan calculator with the capability to include a balloon/residual. Vary the elements – balloon, loan term – to achieve the repayment estimate that meets your expectations. Or just get straight to the deal and let one of our consultants source you a [cheap car loan offer](/ "Learn more about our economical vehicle financing offers"). **Contact 1300 000 003 for a cheap deal on a new ute.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [When the chips are down……FOMO Car finance](https://www.jadecarloans.com.au/blog/when-the-chips-are-downfomo-car-finance) **Published:** May 26, 2021 **Author:** Publisher **Content:** We’ve come to rely on it for so many tasks in our life and work, especially in our motor vehicles. Tech has become king in so many sectors and motor vehicle manufacturer is making amazing advances with every new model launch. Manufacturers seem to be competing on how much new tech they incorporate into their ranges to improve safety, performance, comfort and customer appeal. But all that reliance on tech has created its crisis. There is a global shortage of computer chips or semiconductors. A shortage that is reverberating through many areas of manufacturing including motor vehicles. Apart from tech giants, manufacturers such as Honda, BMW, Ford, Jaguar, Land Rover and Mitsubishi are just [some of the big-name car makers that reportedly have been forced to slow, halt or scale back production](https://www.wsj.com/articles/global-chip-shortage-set-to-worsen-for-car-makers-11619708393 "Learn more about well-known car manufacturers facing production challenges"). What’s causing it? One cause is reportedly a drought in Taiwan. Taiwan is a major producer of semiconductor components, aka chips, that are needed to make a wide range of tech work. A drought? Yes, a lack of water because apparently water, or more specifically pure water, cleanses the componentry to make it fit for use. This drought is having far-reaching effects on many electronic industries. So what impact could it have on your car buying plans? If you’re planning to buy one of the upcoming latest models, you may be in for a long wait. According to industry bodies, there are already delays in the Australian car market. What could happen? Could the shortage cause prices to rise in response to supply not meeting demand? Manufacturers competing for a limited supply of components? The outcomes are yet to play out and hopefully, the much-needed rain will come. In the meantime, what can you do to [secure cheap car finance](/ "Get started with our secure and cost-effective car finance solutions") and how can we assist you? Possible options include pre-ordering now so you’re first in line with the car of your choice that hits the local market that is of course if future orders are open. Or you could get in now for current models. ## Vehicle Financing Options To avoid FOMO, fear of missing out, getting in now and buying a new car at the current prices, and possibly even EOFY pricing, might be the answer. Fortunately, there is no such drought in terms of our cheap interest rate car finance. Interest rates across the board have been kept on hold by the RBA since November 2020 and it is expected that will remain the case for some time to come. However, some economic analysts do present a feasible case that lending rates in some sectors may rise earlier than currently indicated. Buyers wanting to secure a new vehicle now and avoid any possible delivery delays can select from a comprehensive low rate car loan selection. Securing your finances ahead of time with a pre-approved loan allows buyers to confidently place an order and potentially quickly snap up vehicles that are in short supply. ## Private Buyer Car Loans Secured finance for cars is the most widely-used loan for those buying a new car for private use. This loan can be used for the purchase of all types of cars including SUVs, sedans, wagons, hatches, cab chassis, coupes convertibles and more. Loans are available across the full price range from budget models to high-end luxury collections. Petrol, diesel, hybrid and electric vehicles are suited to a secured loan, with no difference in loan features based on the power source. The format of a secured loan is essentially uncomplicated – the car is used as the security against the monies being loaned. The borrower then repays the loan to the lender in equal monthly instalments over a fixed loan term. When arranging these loans for our customers, we ensure a fixed low-interest rate and a fixed loan term. That means our customers have fixed repayments which they do not have to address over the loan term, ‘fix’ their interest rate when the official cash rate changes or switch lenders to get a better deal. We source the cheapest deal upfront. Refer to our [business car finance interest rates](/car-finance-interest-rates "Visit our page for insights into interest rates for business auto loans") to see our cheap rates against what other lenders and banks are offering. ## Business Car Loans Businesses have several choices regarding finance and the benefits of each should be weighed up against the objectives of the business and the suitability of the business accounting method and strategy. - Chattel Mortgage which is also known as Motor Vehicle Loan - [Car Finance Lease](/car-lease "Navigate to our page for details on car lease financing") - [Car Hire Purchase](/commercial-hire-purchase "Discover the benefits of financing your car with hire purchase") or CHP for Vehicles All have tax-deductible elements but for businesses looking to capitalise on the accelerated depreciation offered by temporary full expensing, Chattel Mortgage would be the most appropriate finance facility. To see how your repayments may vary on the different finance products and for different vehicles, use our interest rate comparison chart. ## Pre-approved Vehicle Finance Pre-approved finance is available on all our loan products. This process simply involves applying for your loan before committing to a car purchase. Many buyers prefer this way of sourcing finance as it allows them the opportunity to know exactly how much they are approved for. It also allows buyers to immediately sign up for a purchase rather than having to inspect a vehicle and then go away to arrange their finances. A move that, in the light of possible vehicle shortages, could mean missing out. So when the chips are down, turn to us for finance options to secure the car of your choice. **Contact 1300 000 003 to discuss your motor lending requirements.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Understanding Car Loan Break Fees](https://www.jadecarloans.com.au/blog/understanding-car-loan-break-fees) **Published:** June 2, 2021 **Author:** Publisher **Content:** When taking out [car finance](/ "Learn about vehicle financing solutions"), whether it be a personal car loan or business vehicle finance, fees will be applicable. These charges vary from lender to lender and include loan establishment fees and possibly other charges. But in addition to the fees applicable when first setting up your loan, there are fees that can apply when the loan is finalised. In general terms, these are referred to as ‘break fees’. Break fees are, by definition, a fee charged by the lender when a borrower breaks the finance contract. Most car loans, both personal and business, including those for [ABN holder car finance](/abn-car-loan "See how we offer reliable financing solutions for business professionals"), are set up for a fixed loan term. When the loan is finalised before the scheduled end of the loan term, the lender may charge break fees. When establishing a motor vehicle loan contract, borrowers should be advised of this by their broker or lender. ## When do vehicle finance break fees apply? Break fees most typically occur under two main scenarios where a loan is finalised early – when the borrower voluntarily chooses to make extra payments and when the vehicle is sold while still under finance. ## Making additional car loan repayments: - In some circumstances, a borrower may choose to make additional payments on their car loan, over and above the scheduled monthly payments. This is permitted with Secured and [Unsecured Personal Car Loans](/unsecured-personal-loans "Access information about auto loans without the need for collateral") and most commercial finance facilities. Making extra payments is less commonly found regarding business vehicle finance. - An individual may make extra payments when they have additional funds. By making extra payments, the total amount outstanding is reduced and the loan. If the borrower maintains the established payment schedule in addition to making extra payments, then the loan will be finalised before the fixed term ends. - The outcome of making additional payments is a saving on the total interest payable on the loan but break fees would apply. Interest on consumer loans is calculated at the daily interest rate and then charged against the loan monthly. So any additional payments made in a month would affect a reduction in overall interest. - If a borrower chooses to put additional funds into their car loan account, these monies cannot be withdrawn at a later time. But they can be designated against future monthly repayments. ## Selling Your Vehicle ‘under finance’: - When a car is sold while money is still owed on the car loan, it is known as ‘selling under finance’. For example, selling or trading in a car say 3 years into a 5-year secured car loan. The seller needs to finalise the existing loan commitment before completing the sale. - With secured loans, lenders report their interest in the vehicle to the [PPSR](https://www.ppsr.gov.au/ "Visit the PPSR for asset security"). Buyers of used cars are strongly advised to check the PPSR and ensure all monies owed on a vehicle are finalised before buying. - When a loan is finalised in this way, before the fixed loan term, then break fees would apply. - Variations between consumer loans and business finance can occur as ASIC regulates consumer finance but all commercial finance is not subject to the same regulations. ## Calculating Car Loan Break Fees When finalising a car loan early, that is before the end of the term, borrowers should contact their lender for a ‘payout figure’. This is the total amount that will need to be paid to finalise the loan. It will include the break fees. ### Consumer loan break fees are calculated based on: - The balance of money outstanding on the car loan. - The amount of time that is remaining on the fixed term of the car loan term. - Consumer finance is regulated by [ASIC](https://asic.gov.au/). ### Individual lenders may vary but as a general ‘rule of thumb calculation of consumer loan break fees: - The total fee usually varies between $600-$900 per loan and is charged based on pro-rata, meaning the number of monthly payments is still outstanding. - For example, if the fee charged by a lender was $750 for a 60-month car loan that would be $12.50 per month. If the car is sold with 2 years of payments outstanding that would be 24 months multiplied by $12.50 which would be $300. - Any break fees applicable should be considered against the interest saved. Commercial finance, including options for a [cheap new business car loan](/new-car-finance "Explore our affordable financing options for new business vehicle loans"), is not regulated by ASIC. Break fees on motor vehicle finance contracts will depend on the requirements and guidelines of individual banks and lenders. ### Business vehicle break fees can be applied via several calculation methods including: - [The Rule of 78](https://en.wikipedia.org/wiki/Rule_of_78s): This refers to how interest is applied to a commercial loan over the life of the finance contract. The break fee charged would take into account how much of the finance principal (total initial loan amount) is still to be finalised concerning the interest payable. - Discount rate on finance contract balance. - A percentage interest rebate. Your Jade Car Loans consultant will advise you of the break fees applicable to your particular loan type when arranging your motor vehicle finance. If you consider paying out a loan before the end of the loan term through additional payments or resale, contact your lender for an exact payout figure. Feel free to use our [business car financing calculator](/car-finance-calculator "Use our business vehicle finance calculator") to receive an estimate on potential repayments. **Contact 1300 000 003 for cheap interest rate personal and business motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Latest Stats and Figures: Top Selling Vehicles, Low Interest Rates](https://www.jadecarloans.com.au/blog/latest-stats-and-figures-top-selling-vehicles-low-interest-rates) **Published:** June 7, 2021 **Author:** Publisher **Content:** For those in the market for a new car this month, there are plenty of stats and figures to absorb and consider in deciding on which car and what car loan. The [latest car sales figures](https://www.drive.com.au/news/vfacts-april-2021-new-car-sales-results-record-month-despite-semiconductor-shortages/) were released by VFACTS on 3 June, the RBA Board met on 4 June for their monthly decision on interest rates and the EOFY car sales are ramping up. So let’s get into the stats to assist in your car-buying decisions. ## May 2021 New Vehicle Sales Australians appear to be showing their consumer confidence and businesses possibly taking advantage of the Federal Budget tax measures, with sales of new vehicles in May 2021 up 68.3% compared with May 2020 and even May 2019. SUVs continue to be the most popular vehicle type and Toyota is the most popular brand, taking the top spot in multiple categories and 5 of the top 10 spots. Mazda’s performance was also noteworthy and also noteworthy – the brand is running an EOFY sale on some of these top-selling models. We’ll give you the top 10, then dig a little deeper into some of the traditional rivalries for more detail. ## Top Ten Vehicle Sales May 2021: 1. Toyota Hilux 2. Ford Ranger 3. Toyota RAV4 4. [Toyota LandCruiser](https://www.toyota.com.au/landcruiser-200) 5. Isuzu D-MAX 6. [Mazda CX-5](https://www.mazda.com.au/cars/cx-5/#design) 7. Mitsubishi Triton 8. Toyota Prado 9. Toyota Corolla 10. [Hyundai i30](https://www.hyundai.com/au/en/cars/small-cars/i30) Overall in 2021, Toyota is the top-selling brand, followed by Mazda, Mitsubishi, Hyundai and Kia. For May it was HiLux rival Ranger. Another noteworthy performer was MG which just missed out on the top 10 brands coming in at 11. MG scored the top spot for the best-selling small category SUV in May and its [MG3 light hatch](https://mgmotor.com.au/models/mg-mg3auto/) also dominates. No doubt is driven by highly competitive pricing. In the luxury stakes, BMW with 2707 sales just outsold Mercedes-Benz at 2526 with Audi at 1707. In the budget brands, GWM with Haval and the Ute recorded a modest increase in sales in April: and May, but the big WOW figures are their year on year sales which show 5489:1480. Their new models are starting to get noticed and purchased. The take-up of EVs in Australia continues at a very slow pace although the sales of hybrids are doing well compared with year on year figures. SUVs sold over 50% of total sales, maintaining their dominance and popularity with Australian drivers and commercial vehicles and utes outsold passenger cars. With temporary full expensing extended in the 2021/22 Federal Budget, no doubt many business operators would be rushing to get their vehicles purchased and operating in the business to realise the tax benefit in this financial year. ## Delivery Issues? Order Your New Vehicle Now! While current sales are booming, reports have it that many of the vehicles purchased in May were ordered some time ago. The global pandemic caused some delays in production and hence new car deliveries throughout 2020 and now there is a [global shortage of computer chips which is causing problems](https://edition.cnn.com/2021/04/29/business/chip-shortages-smartphones-consumer-goods/index.html). Production delays have been reported for many car makers due to the shortage of semiconductors, a situation we have covered in other articles. Several new model releases have had to be pushed back and according to reports, Nissan, Kia and Hyundai are advising of delivery delays for new vehicles. Toyota is OK in regards to parts with production but demand is strong and that may cause delays. Word has it in dealer circles that buyers should get in fast to place their order for a new vehicle. Jade Car Loans can assist buyers wanting to pre-order or place orders well ahead of delivery with pre-approved and pre-arranged finance. Many buyers will want to know they have finances locked in before placing an order. We offer the service across our personal and business vehicle loans to have your loan approved before signing a sales contract. So you can confidently proceed with the order. When the vehicle is ready for delivery, we finalise the pre-approved loan based on the final invoice amount. Depending on the time elapsed, pre-approved loans may need to be reviewed and re-priced. ## Interest Rates: June Decision While car sales are on the ‘up’, interest rates are on the ‘low’. At the June meeting, the RBA Board once again held the official cash rate at the 0.1% rate. This is the same rate that the cash rate has attracted since November 2020. A historic low. In the statement accompanying the June decision, the RBA Governor Philip Lowe repeated earlier statements that the bank was looking to inflation in the 2-3% range and unemployment to fall further before an increase would be contemplated. This is despite the hot housing market. To see how Jade’s cheap interest rates reflect the current low-rate environment, refer to our [commercial car financing rates](/car-finance-interest-rates "Discover competitive rates for financing commercial vehicles") comparison tool. To work out repayment estimates on the vehicles you’re considering, simply enter the total amount of your loan and the term you would prefer. ## Locking in a Car Loan To avoid FOMO, lock in lending with Jade ASAP. At our fixed interest rates, your loan is set to the same monthly repayments for the full loan term. Whether you’re purchasing a top 10 seller or any other vehicle, our fixed interest rate loans apply to: - [Secured Car Loans](/secured-car-loans "Explore our options for collateral-backed auto loans") for personal and consumer - [Sole trader car finance](/car-chattel-mortgage "Discover our financing solutions for independent business owners") - Car Lease - [Best Car Hire Purchase](/commercial-hire-purchase "Explore our top-rated vehicle hire purchase solutions") **Contact Jade Car Loans at 1300 000 003 to discuss your lending requirements.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Calculating the cost of that ‘better’ make or car model](https://www.jadecarloans.com.au/blog/calculating-the-cost-of-that-better-make-or-car-model) **Published:** June 10, 2021 **Author:** Publisher **Content:** When heading into the market to select a new vehicle, buyers are spoilt for choice across all prices and categories. Some decisions are made on a very personal basis some on a very cost-conscious basis. For some, it’s heart overhead, for others, head over heart. Prestige or practicality? Budget or luxury? With most car owners only purchasing a new vehicle every 4 or 5 or so years, buyers in today’s market need to adjust their thinking to the current lending environment. Not the interest rates and lending climate of several years ago when you last purchased a new vehicle. The finance scene has changed over the past few years, especially regarding interest rates and your aspirational vehicle may now be a frontrunner in the affordability stakes. In the cab chassis ute market, buyers could be tossing up between a budget buy from the GWM range or going for a top of the range Ranger or even a RAM. Light commercial vans are workhorses and must deliver (excuse the pun) both for customers and business cash flow. Ford Transit, Toyota Hiace and Mercedes-Benz Vito are highly-regarded by buyers, Does the cheaper price tag of say the LDV range still make dollar sense? With low-interest rates and tax benefits on commercial finance on offer, your business may now be in a position to up the ante to a top of the price range delivery van. The SUV market is particularly strong with MG’s small compact impressing in sales figures. But the luxury market including Audi, BMW and Mercedes Benz beckons. In the highly competitive mid-range, the [top-selling Toyota RAV4](https://www.toyota.com.au/rav4 "Discover the best-selling Toyota RAV4 models") is there for consideration along with the impressive offerings from Mazda. With passenger vehicles, the range is always extensive but Kia and Hyundai are giving buyers a reason to re-consider that luxury sedan and [Mazda is moving up in the sales figures, reflecting buyer popularity](https://www.carsguide.com.au/car-news/why-mazda-can-count-2020-as-a-success-despite-big-sales-drop-of-mazda-2-mazda-3-and-mazda-6 "Explore Mazda's rising sales trends and growing popularity"). But will that more luxurious model or possibly that sports coupe you’ve always wanted win out with our cheap interest rate finance deals? The take-up of EVs in Australia has been well-documented as slow for a range of reasons. But the price is probably one of the big turn-offs for the pragmatic Australian buyer. Could now be the time to consider that more expensive price tag and finally make that environmentally-conscious decision to go electric? Buying decisions are based very much, for many buyers, on price. Or more specifically, the more relevant finance repayments. We outline the reasons why now could be the time for you to upgrade to that higher-priced, better or more luxurious make or model. ## The Lure of Low-Interest Rates If you’re basing your current thinking about a new car purchase on what the repayments cost on your current vehicle in a similar category or price range several years ago, you are likely to be very pleasantly surprised. Interest rates have been cut significantly recently and the official cash rate is currently at historic low levels. The cash rate is set by the RBA and is the basis for banks and lenders to set their lending rates across their markets. Lending rates in many sectors are currently at low levels compared with several years ago. A low-interest rate climate is enticing buyers into the car market, especially the high sales figures. We’ve made it easy for buyers to see the current interest rates on motor vehicle finance. Private buyers can refer to our Lender Interest Rates Tool to see what interest rate we are currently achieving on [Secured Car Loans](/secured-car-loans "Discover our options for collateral-backed auto financing") alongside a selection of banks and other lenders. Business buyers can refer to our [Business Car Loan Interest Rates](/car-finance-interest-rates "Explore our competitive rates for business auto financing") Tool to see our finance on the range of lending products – Chattel Mortgage, CHP and Leasing. When utilising our [business car finance repayment calculator](/car-finance-calculator "Use our tool to estimate business vehicle loan payments"), simply enter the price of the vehicle you’re considering or the loan amount you are seeking and your preferred loan term and the calculator will display an estimated repayment amount. How does that compare with what you paid or are paying in repayments on your current vehicle finance arranged a few years ago? Surprised? Now input the price of the more expensive make or model you would like to buy. Now you can easily see the difference in repayments to compare different makes and models. These loan tools put into perspective the key buying driver for many buyers – affordability in terms of car loan repayments. A factor is more relevant to many buyers than the actual price tag. ## The Assurance of Fixed Interest Rates A big issue that is worth resolving in this conversation is around fixed interest rates. Sure, our motor vehicle finance interest rates are exceptionally low right now, but what could happen in a few years? Car loans can extend over 4, 5 or 6-year loan terms, What then of the loan repayments on your higher-priced vehicle? The RBA has repeatedly stated that the Board does not see the official cash rate being increased until 2024 though some analysts are predicting it may be more like 2023. However, the conversation about what may happen with interest rates in a few years is primarily associated with home loans. With home mortgages, the fixed interest rate period is only for a few years of what could be a 20-25 year mortgage. So buyers taking on a mortgage in 2021 would be keenly interested in what could happen in 5 or so years. The situation with car loans is different. At Jade Car Loans we offer [fixed car loan interest rates across all our lending products](/ "Explore our consistent fixed interest rates on all loan products"). That rate is then fixed for the entire loan term. The fixed repayments arranged now will remain the same regardless of what might happen with the official cash rate or any other interest rates in 1, 2,3 or 5 years from now. You have the assurance that if you do upgrade to a better make or model now, the repayments on that loan will remain fixed over the fixed loan term. ## Additional Benefits In addition to the lure of low interest rates, business buyers have the additional appeal of the current tax benefits on offer with temporary full expensing and loss carryback. This could be the year that you do get that vehicle you want rather than the one you’ve had to settle for in the past, due to price. The current low-interest rate climate, combined with options for [ABN car finance](/abn-car-loan "Discover our financing options for ABN holders") and our own cheaper interest rate deals, are making the impossible a real possibility for upgrading to a ‘better’ make or model vehicle. **Contact 1300 000 003 for a finance quote on the vehicle you want.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Car Loans, Recalls, Releases, Repayments: Reviewing key buying issues](https://www.jadecarloans.com.au/blog/car-loans-recalls-releases-repayments-reviewing-key-buying-issues) **Published:** June 14, 2021 **Author:** Publisher **Content:** As we head into the start of a new financial year, what can vehicle owners and buyers expect in the coming months? New releases are due to hit our shores but multiple existing models in the market are on recall. How does a recall affect your car loan and what repayments can you expect on a new release? We review some of these key car-buying questions. ## Multiple Vehicle Models Recalled It’s been a busy time for vehicle recalls with multiple makes and models appearing on the ACCC website in the May-June period to date. In May, several Suzuki models were recalled and more recently luxury German automaker BMW has recalled 11 models. The nationwide BMW recall is due to a manufacturing fault being identified in the hydraulic unit brake booster. The recall covers multiple new sedans, coupes, SUVs and convertibles. Porsche has also recalled a number of its 2021 model Cayenne and Cayenne Coupe due to issues with the clamping nuts on the rear axle trailing arm. Also on the recall list in June are the 2020 model Audi A7s and A6x with a dash panel issue. The petrol-electric system on the 2019-2021 model year [Honda Accord Hybrid has also triggered a recall](https://www.whichcar.com.au/car-news/2019-2020-honda-accord-hybrid-recall). Minor issues with spark plugs are reportedly behind a recall of [2020 Mercedes-Benz AMG 45S and CLA45S](https://www.mercedes-amg.com/en/vehicles/a-class/hatchback.html). A few GLA and GLC SUVs are also recalled with a possible problem with the software that could cause the emergency call function to be inactive. Vehicle and other product recalls are not unusual. Manufacturers regularly recall their products when issues, faults or the potential for issues to arise are identified. But it can be a concern and inconvenience for busy owners who have to address the matter. In most instances, manufacturers or dealers will contact the owners of affected vehicles, so it is important to keep your details up to date with the dealership. Regarding the current recalls, details of the issues and lists of the affected VINs can be found on the ACCC website. [More info here](https://www.productsafety.gov.au/recalls/browse-all-recalls?f%5B0%5D=field_accc_psa_product_category%3A4792). ## Recall Impact on Finance Contracts When a vehicle is recalled the event should have no impact on motor vehicle finance. In most cases, any issues will be rectified by the manufacturer at no cost to the owner. Individual arrangements would need to be made if a vehicle was off the road for an extended period regarding a replacement vehicle. Being unable to use a vehicle does not mean a car loan borrower can pause loan repayments. The loan repayment schedule must be adhered to, whether or not a car is operational. ## New Vehicle Releases With manufacturing delays caused by a coronavirus in 2020, many carmakers are now facing delays due to a shortage of computer chips. This is reportedly affecting many factories across the globe with numerous new releases pushed back by months. With car sales surging in Australia and business buyers keen to buy to take advantage of temporary full expensing, any shortage in supply will be a blow to local dealers. Pre-orders are being taken by some manufacturers and keen buyers should stay across news of their preferred models so as not to miss out. A great way to ensure you are well-prepared when the new stock hits the market is to pre-arranging your finances. [Jade Car Loans](/ "Explore our vehicle financing solutions at Jade Car Loans") provides a pre-approved loan service for both business vehicle finance and personal car loans. Applications for these loans are handled in the same way as for loan applications made after the vehicle is selected up to the approval stage. The loan is pre-approved, awaiting final details of the buy and the invoice from the dealer to complete the exact loan amount. Pre-approved loans include the same cheap interest rates which are fixed, a fixed loan term and fixed repayments. The loan is approved for a certain timeframe which will be advised at the time. There is no obligation attached to pre-approved loans so if the buyer does not proceed to purchase and use the loan, there is no problem. This is a very effective way to approach car finance and an approach that is used by many buyers. So what new releases are worth capturing now or waiting for? The new Kia Cerato has just been launched in Australia with a sedan, hatch and sporty GT. Pricing is highly competitive at $35,000-$37,000 plus on roads. Head to our [car loan repayment calculator for businesses](/car-finance-calculator "Use our tool to estimate auto loan payments for your business") to see how that plays out in repayments. Supply continues to be a problem for Kia so it’s great that this model has made it to market. Originally expected in the third quarter of this year were the Audi E-tron GT, Silverado Trail Boss, several new Hyundai models, Jeep Grand Cherokee L and [Land Rover Defender](https://www.landrover.com.au/vehicles/defender/index.html), and several new models from Mercedes-Benz including the Maybach. VW also has several new models as does Volvo. With COVID-19 and computer chips playing havoc with the global economy, the exact dates for release will likely be TBA. ## Estimating Loan Repayments Before Purchase Car buying decisions are made for a large range of reasons and some buyers, recalls and new releases will be taken into consideration. But by far the biggest priority for most buyers is knowing what their loan repayments will be on a certain vehicle. The price tag is great for giving you an idea of where the model is pitched in the market and a rough indication if it’s in your price bracket. But what is far more relevant is the monthly repayment on a loan for that vehicle. To enable buyers to quickly and easily calculate loan repayment estimates, we’ve provided several loan calculators. These are free to use and can be used for as many vehicles as you are considering. Private buyers can use the [business car finance interest rate tool](/car-finance-interest-rates "Access our resource for business auto financing interest rates") tool which displays both advertised rates and comparison rates for our Secured Car Loan and loan products from other lenders. The car loan repayment calculator tool is great for comparing Chattel Mortgage against Leasing as well as different priced vehicles. To ensure you’re in a position to capture a new model when first released, start organising your car finance today. **Contact 1300 000 003 to discuss your motor vehicle finance requirements.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [What the changes to Luxury Car Tax 2021/22 mean for your car purchase](https://www.jadecarloans.com.au/blog/what-the-changes-to-luxury-car-tax-2021-22-mean-for-your-car-purchase) **Published:** June 21, 2021 **Author:** Publisher **Content:** When buying a new car, most buyers are well aware that the price quoted will include a range of taxes and other government charges such as GST and stamp duty. What not all buyers will be aware of is a tax applied to vehicles over a certain price threshold, Luxury Car Tax (LCT). [Luxury Car Tax is a tax applied by the Australian Tax Office (ATO)](https://www.ato.gov.au/business/luxury-car-tax/ "Learn about the Luxury Car Tax imposed by the Australian Tax Office (ATO)") and was introduced around 20 years ago. The objective at that time was to protect the Australian motor vehicle manufacturing sector from competition from imported brands. Of course, over the past 20 years, Australia has seen many manufacturers depart the domestic manufacturing scene giving rise to voices that claim the LCT is now out of date and no longer relevant. Unfortunately, if you’re purchasing a vehicle in the $70,000+ range, LCT remains very relevant. We explain the details around LCT and how the incoming changes may affect your upcoming car purchase. Teaser – some luxury motor vehicle models are set to become more affordable for buyers with changes in the luxury car tax to take effect for the financial year 2021/22. ## LCT: Explainer LCT is a tax on cars over a certain price threshold that are 2 years or less old. The definition of cars includes passenger vehicles for 9 or fewer passengers and a 2 tonne or less load, including limos but excluding motorcycles. LCT is payable by the importer of the vehicle and is usually paid by the dealer or the company importing the vehicles. If an individual imports a vehicle over the threshold themselves, it could be subject to LCT. The current rate of LCT is 33%. This is calculated on the value of the car including GST over the current LCT threshold. The threshold for fuel-efficient vehicles is different and better. Fuel efficiency is defined as a vehicle with fuel consumption not exceeding 7 litres per 100 klms. In calculating the amount of LCT payable, some inclusions in the price are excluded. According to the ATO information, they include rego, stamp duty, CTP, any special warranty fees or service plans and some other exemptions such as modifications for drivers with a disability. (Check ATO website for details.) Importantly from our perspective as motor vehicle lenders, LCT does not apply to car finance. The LCT would be paid by the dealer or importer and included in the overall price tag offered to buyers. It is not adding on as a separate charge at the consumer level. But as LCT affects the overall purchase price of the car and hence your total motor vehicle finance, it may be worth including in your buying considerations. To read more about LCT, [click here](https://www.carsguide.com.au/car-advice/luxury-car-tax-australia-what-is-the-lct-82593). ## Upcoming Changes to Luxury Car Tax Pleasingly for buyers in this market category, LCT has changed over the years in a positive direction. Rather than in actual percentage terms, the threshold has changed. Over the past few financial years, the ATO has increased the threshold marginally for what the value of vehicles subject to LCT. That means, fewer vehicles are subject to LCT meaning the buying price of these models is reduced. For the financial year 2020/21 the LCT thresholds were $68,740 for non-fuel efficient vehicles and $77,565 for fuel-efficient vehicles. From 1 July 2021, those thresholds will rise to $69,152 and $79,659 respectively. There are exemptions for certain buyer categories and those interested can check the ATO website for specifics. ## Impact on Buying Decisions If you’re averse to paying too much or too many taxes, when it comes to avoiding paying LCT you’re going to have to select a less expensive vehicle. Set your sights on a sub $70,000 model of the make you’re interested in. Of ensuring you select a sub $80,000ish in the fuel-efficient category. If buying an EV, there are additional incentives through changes announced to stamp duty by some state governments in their 2021/22 budgets. A handy reference guide to pricing is [www.redbook.com.au](http://www.redbook.com.au) which lists current vehicle pricing. Using their filters you should be able to narrow down your search to suit your price range. Alternatively, head into your preferred dealership and have a conversation around which models are LCT-exempt. ## Car Finance Considerations As mentioned above, LCT does not have an impact on such aspects of a motor vehicle finance package. We provide [personal car loans](/personal-car-finance "Explore our financing options for individual auto loans") as well as commercial vehicle finance based on the dealer or seller invoice or the loan amount requested by our customer. We offer [no deposit business car finance](/no-deposit-car-finance "Discover our zero-down financing solutions for business vehicles") which can include the total purchase price of the vehicle which would have already had LCT incorporated into the pricing. To work out estimated loan repayments on any number of vehicles, simply use our [business car repayment calculators](/car-finance-calculator "Access our tools for estimating business auto loan payments"). You just enter the purchase price, the terms you prefer, and our current interest rate on either a Secured Car Loan or for business buyers your choice of Chattel Mortgage, CHP or Leasing. The calculator then displays the estimated repayments for that loan on that vehicle. Enter details for vehicles above and below the LCT threshold to quickly see the difference in loan repayments and total interest payable to assist with your buying decision. The good news, despite having to pay LCT on many prestige luxury vehicles, we maintain [cheap car loan](/ "Explore our affordable auto financing options") interest rates across our portfolio. So by engaging Jade as your lender, you’ll at least know you won’t be overpaying on interest. **Contact 1300 000 003 for a finance quote on all types of motor vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [NSW State Budget: Relief for Electric Vehicle Buyers](https://www.jadecarloans.com.au/blog/nsw-state-budget-relief-for-electric-vehicle-buyers) **Published:** June 23, 2021 **Author:** Publisher **Content:** The NSW Government has been making a strong push in the area of climate change issues including a recent announcement in regard to a target for electric public transport vehicles. That approach has now been further expanded with a major policy announcement in the state’s 2021/22 budget in regard to stamp duty on electric vehicles (EV). Other incentives have also been announced to encourage the take-up of EVs. Price has been identified as a major obstacle to many buyers as has access to recharging facilities. Both these issues have been addressed in the budget. But the policy has good news and not so good news for prospective EV buyers as the announcements around EVs appear in both the budget winners and budget losers lists. So buyers, take note. The NSW Treasurer Dominic Perrottet brought down the 2021/22 State Budget on Tuesday 22 June. [The budget](https://reneweconomy.com.au/nsw-unveils-490-million-support-package-for-electric-vehicles-waives-stamp-duty-on-new-sales/) includes what has been described as an ‘ambitious’ $500 million plan towards battery-powered vehicles constituting more than 50% of new car sales in the state by 2031. Ambitious possibly, but the NSW Government is keen to incentivise the take-up of EVs and on the back of a reducing deficit appears to be in a position to offer incentives to achieve their target. ## EV Stamp Duty Waived The key inclusion for motor vehicle buyers is the waiver on stamp duty on some electric vehicles. The policy apparently applies to vehicles under $78,000 applicable from 1 September 2021. To find out what that may cost on the EV you are considering, speak with your dealer or request a vehicle price quote post September. In addition, the first 25,000 buyers, after 1 September, purchasing vehicles under $68,000 are slated to receive a $3,000 rebate. [Read more](https://thenewdaily.com.au/finance/consumer/2021/06/21/electric-vehicle-subsidy-nsw/). The policy is part of the Government’s overall Electric Vehicle Strategy which also includes EVs ability to use carpool and other such lanes, use priority car parking for recharging and funding for charging infrastructure. According to reports, there are plans to offer incentives for businesses to set up charging stations on their premises for staff. In their efforts to achieve this increase in EV take-up, the Government is taking the lead with a plan to upgrade the Government fleet, which is regularly upgraded on a scheduled timeframe, to EVs. When the new EVs are then replaced in the 5 year upgrade time, these vehicles would be available on the used EV market. Leading motoring group, NRMA, has responded to the Government’s EV Strategy saying the NSW Government was both a global and national leader in transitioning to EVs. It should be noted that the Victorian Government also announced [policies in regard to EVs](https://www.whichcar.com.au/car-news/victorian-government-50-per-cent-electric-vehicles-by-2030) in their 2021/22 state budget. ## The Downside to Electric Vehicles While NSW EV buyers can take advantage of these rebates and stamp duty exclusions at the time of purchase, they will face a speed bump or more specifically a tax or cost bump down the road. As more car owners take up EVs as the NSW Government is hoping, the Government would be facing a loss in the amount of revenue it would receive on fuel excise. Revenue that is used to fund infrastructure projects especially roads. To compensate for this loss of revenue, EV owners are expected to face a road user tax at 2.5c per klm by 2027 or by the time the target of 30% of new car sales are EVs. More information here ## Buying a New EV If the incentives offered by the NSW Government are motivating you towards the purchase of a new electric vehicle, we offer a few additional aspects to consider. Changes to the Luxury Car Tax come into effect on 1 July which may also reduce the price of the vehicle you are considering. The rebate of $3,000 announced for buyers of vehicles under $68,000 is limited to the first 25,000 buyers. Many vehicle manufacturers are currently facing stock shortages and delivery delays due to the global microprocessor chip shortage and other manufacturing issues. Buyers may need to get in fast and pre-order their vehicle to ensure they take delivery to be eligible for the rebate. To assist with that process, contact us for pre-approved finance so your loan is locked in and you can place that order. If you’re tossing up between several makes and models of EVs, use our loan repayment calculator to see how the price tags can play out in estimated repayments. ## Cheap Car Loans for Electric Vehicles [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing") offers both consumer and business finance for all types of vehicles including EVs with the same cheap interest rates applying to EVs in all price ranges. For personal buyers of new EVs, our [Secured Car Loan](/secured-car-loans "Explore Secured Vehicle Financing") is the most appropriate type of loan. ### Business buyers have the choice of our commercial loan portfolio products which include: - [Sole Trader Car Financing](/car-chattel-mortgage "Discover our specialized auto financing solutions for sole traders") - [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Explore our simplified documentation auto financing options") - [Cheap Hire Purchase Cars](/commercial-hire-purchase "Browse our budget-friendly hire purchase vehicle selection") Businesses that utilise temporary full expensing with Chattel Mortgage EV finance can further enhance the taxation benefits of their purchase. **Contact 1300 000 003 to discuss a quote for finance on a new EV.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [What car should you buy? Buy top sellers and new models with a cheap car loan.](https://www.jadecarloans.com.au/blog/what-car-should-you-buy-buy-top-sellers-and-new-models-with-a-cheap-car-loan) **Published:** November 21, 2021 **Author:** Publisher **Content:** Buyers of new vehicles have many strategies and approaches to purchasing – price, brand loyalty, personal recommendations, good reviews, style and appearance being just some. The Australian motor vehicle market is extensive and with so many models available, the decision process can be confusing and challenging. To assist those in the market for a new vehicle, Jade Car Loans provides tips on how to buy top sellers and new models with a cheap car loan. Plus an update on the latest sales figures to gauge the popularity of brands and models and sneak peeks of what new models are due to hit the local market. ## July Car Sales Figures Despite the problems in the global supply chain affecting the stock availability of some brands, sales of new vehicles continued to increase in July. Light commercials and SUVs continued to trade well and demand for EVs and PHEVs was strong in NSW and Victoria where state governments are offering incentives. SUV sales were more than double that of passenger cars. A trend that has been prominent recently as brands maintain a focus on the SUV category and buyers embrace its versatility for both a family drive and a work vehicle. If tossing between a new SUV or buying a new passenger car, it is worth noting that our same range of [personal car loans](/secured-car-loans "Customised Vehicle Financing for Independent Professionals") and [business vehicle finance](/overview-of-business-car-finance "Unlock New Commercial Vehicle Loan Solutions") products apply to both categories. The type of vehicle does not affect the type of loan. The differentiation is if the vehicle is for private or business use. Interest rates vary depending on the loan product and the lender’s assessment of individual loan applications. [Toyota](https://www.toyota.com.au/ "Toyota Products") was the top selling brand followed by [Mazda](https://www.mazda.com.au/ "Explore Mazda Range"), Ford, Mitsubishi and Kia. The iconic Toyota HiLux narrowly edged out the Ford Ranger as the top seller with the Toyota Corolla third, Isuzu D-Max in fourth place and Mazda CX-5 in fifth. This is a change in position from the June figures where the Ranger out-sold the HiAce. The July figures may reflect any special and more attractive EOFY discounts offered by individual manufacturers. But both are perennial top sellers due to performance and price. If looking to compare HiAce and Ranger, head to our [commercial car loan calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") to generate repayment estimates based on current pricing. Remember that your Jade consultant can usually include the cost of accessories purchased at the same time as the vehicle in the loan. So include those essentials and wish list items in your total loan amount. In the more budget work vehicle market, the Haval SUV and GWM Ute continue to sell well for the Chinese manufacturer. The Chevy Silverado also shows strong sales. The MG ZS rounded out the top 10 sellers for July with popularity likely attributable to the highly competitive price tag. To see how these vehicles compare in terms of repayments with higher priced models, use our calculators. ## New Releases The global microprocessor chip shortage has slowed production in many global factories and delayed new model releases for many brands. But there is still plenty to consider. In the family people mover category, the Hyundai Staria is set to take on the Kia Carnival at a price tipped to be under $50K for the entry level model, depending on deals and on-roads. This 8 seater has a stylish and futuristic looking exterior with large windows and, a very comfortable and well-appointed interior. Due in showrooms this month. In the family SUV category, the Skodia Kodiaq is tipped to be cheaper with the 2022 line-up including a 4 cylinder turbo petrol model. This is a change from diesel. Some models are due in Australian showrooms in December and are expected in the $50,000-$60,000 price range. If looking to pre-order, speak with us about pre-approved finance. For those aficionados of the iconic Toyota LandCruiser, you’ll be particularly keen to secure the cheapest interest rate finance as the price of the new models is on the up. Pricing and specifications have been announced ahead of the arrival in showrooms and orders for this new 300 Series are being taken. The price increases are being attributed to the whole new design and the upgraded features and tech. Upgrades on the HiAce Van, HiAce Commuter Bus and the Granvia have been announced by top selling manufacturer Toyota. The upgrades include security and safety and the models are due in September. For those who like their cars small in size but big in style, a limited edition Abarth model has arrived – the Scorpioneoro. This Italian hot hatch has a stylish black and gold colour scheme and a 1.4 litre 4 cylinder turbo petrol engine. Buyers will be hoping for many other new models to arrive on the market but the global chip crisis is causing delays and supply issues. VW is just one of many manufacturers suffering supply issues and the crisis may continue into next year, affecting multiple manufacturers. ## Securing Your New Model Vehicle In light of supply issues which may potentially be worsened by the wildfires sweeping across Europe, securing your new vehicle now could be a smart move. We provide pre-approved finance across our loan portfolio of both business and personal vehicle loans. Having your finances secured before discussions with the dealer can be highly beneficial, especially when considering [no doc car loans in Australia](/no-docs-car-loans-for-business-vehicles "Zero Documentation Vehicle Financing: Simplifying Business Vehicle Financing"). Not only does it ensure you have our cheap interest rate loan, but it also provides buyer confidence to commit to the purchase on the spot. When supply is limited, being in a position to make that quick buying decision can be critical. To move forward with your purchase, [contact us](/approval "Contact Jade Car Loans") by phone or email or simply apply online. **Contact Jade Car Loans at 1300 000 003 for a cheap interest quote on the new model of your choice.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Lockdowns Drive Demand for Light Commercial Van Loans](https://www.jadecarloans.com.au/blog/lockdowns-drive-demand-for-light-commercial-van-loans) **Published:** November 22, 2021 **Author:** Publisher **Content:** With the ongoing lockdown situation in multiple states, online shopping and home delivery services continue to be in high demand. Many business operators are striving to meet customer needs, continue trading and remain viable. The harder and faster lockdowns mean more businesses are forced to close than under some less harsh periods in 2020. Businesses that must close are realising that they need to be agile and prepared to immediately offer online sales and delivery services. The need for businesses to pivot to this style of operation and/or uptick in demand for courier services is highly likely to be a reason for sales of light-duty vans to be relatively strong. July 2021 sales figures show a slight drop over June but still above 2020 results. The June figures may be put down to buyers getting in to purchase before EOFY and taking advantage of usual EOFY special offers. The top sellers in the under 2.5 tonne category were the [VW Caddy](https://www.volkswagen.com.au/en/models/caddy-cargo.html "Discover the Volkswagen Caddy"), Renault Kangoo and [Peugeot Partner](https://www.peugeot.com.au/models/partner-van.html "Explore the Peugeot Partner"). In the 2.5-3.5 tonne category it was the classics taking out the podium with Toyota HiAce, Ford Transit and Renault Trafic the top sellers. With interest rates at record lows, tax measures available and demand for home delivery at high levels, the timing may be ideal to upgrade to a new LCV or purchase your first so your business can handle its deliveries and pick-ups. Jade Car Loans provides updates on models and light commercial van loans to consider at cheap interest rates to ensure your van delivers not only for your customers but also for your profitability and productivity. ## HiAce Upgrades The [Toyota HiAce](https://www.toyota.com.au/utes-and-vans "Discover the Toyota HiAce") is currently and consistently a top seller in its category and the new models will include additional upgrades. HiAce models will be fitted with the Toyota Connected Services tech which provides security and safety measures. The system allows for quick alerts for emergency assistance in the event of a collision to be transmitted from the vehicle and in the event of theft. Other upgrades include a larger console box so operators can safely keep paperwork for quick reference and timely deliveries. The new HiAce models feature the 2.8 litre turbo diesel, 4 cylinder engine. The V6 petrol engine has been discontinued due to the preference for the turbo-diesel. Buyers have a choice of several model options in both LWB and SLWB with pricing expected from around $47,000 to mid $55,000 plus on roads. These new models are due in September so now would be the ideal time to speak with a Jade Car Loans consultant about pre-approved finance. ## LDV Van Options While not appearing atop the best sellers in this category, the LDV range of vans is reporting impressive growth in sales. A growth pattern which is expected to continue with the release of the G10+ model. This new model has a 2 litre diesel engine, 8 speed ZF auto gearbox and impressive cargo dimensions. The petrol engine is also available. A 5.2 cubic metre area, 1093 kg payload, two sliding doors, rear tailgate access and optional barn doors on some variants will no doubt add to the appeal of the new G10+. The LDV G10+ is positioned at a much lower price point than many others in the category and as such, may make an affordable option for businesses looking to edge cautiously into carrying out their deliveries. Pricing for the G10+ is in the $35,000 to $37,000 plus on-roads range. ## Comparing LCVs Based on Loan Repayments While buyers will have their criteria for selecting a new van, price is a major buying driver for many business operators. That may be the ticketed price of the vehicle or for many, the monthly repayments are the more significant dollar amount. Comparing the estimated repayments on different price vans can be done quickly and simply by [calculating business car loan repayments](/car-finance-calculator "Estimate Your Commercial Auto Loan Payments"). The Interest Rate Calculator enables users to enter the loan amount and term and see the repayment estimates for different loan products. The Loan Calculator adds the extra feature of being able to input a residual/balloon amount and vary all data to see how the changes affect repayments. Allowing buyers to establish how they would like their finance structured about finance terms and balloon percentages. With our cheap interest rate finance buyers may discover that the more expensive model is well within their affordability expectations. ## Sourcing Online Finance While consumers are heading to online shopping and driving van sales, buyers of light commercial vans can also source their [business car finance](/business-car-finance "Explore Financing Solutions for Corporate Vehicles") online. We provide a completely contactless van loan service with our customers able to source loan tools and apply for finance quickly and easily via our online resources. Simply brief our consultants either over the phone or via our online contact system and we can handle the loan sourcing process for you. If you’re in a lockdown or a lockdown is driving demand for your goods, you can still proceed with your van purchase and finance requirements. **Contact Jade Car Loans 1300 000 003 for a cheap interest rate loan on a new commercial van.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Looking for alternatives to IAWO/Chattel Mortgage? We have tax effective options](https://www.jadecarloans.com.au/blog/looking-for-alternatives-to-iawo-chattel-mortgage-we-have-tax-effective-options) **Published:** November 22, 2021 **Author:** Publisher **Content:** Instant Asset Write-Off (IAWO) has been the catch-cry of the motor vehicle and lending sector since April 2020. A call-out to business vehicle buyers of the tax benefits on offer through this accelerated asset depreciation measure which was introduced as a stimulus measure by the Federal Government. [IAWO](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Instant Asset Write-Off for COVID-19 by the Australian Government") in its initial format offered many businesses extremely attractive deductions on the purchase of eligible assets including motor vehicles. In its expanded and extended format, [temporary full expensing](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/Eligibility-for-temporary-full-expensing/ "Depreciation in Accordance with ATO Guidelines: Learn More Here"), which was introduced in the Federal Budget in October 2020, even more businesses and more assets were included. However, a key ‘catch’ of the catch-cry is that the asset needs to be acquired using a form of financing that allows for accelerated asset depreciation. The most suitable is seen as [sole trader car financing](/car-chattel-mortgage "Car Chattel Mortgage"). But despite the loud and widespread calls to action and the benefits available, for many businesses, this form of finance just doesn’t suit their business set-up. This can be due to several reasons including the accounting method used and not wanting to carry the value of the asset/vehicle on their balance sheet. For those looking for alternatives to IAWO/Chattel Mortgage Jade Car Loans offers tax effective options with [Business Motor Vehicle Leasing](/car-lease "Lease a Commercial Car"). With all the promotion of IAWO, you could be led to believe this was the only tax deductible game in town. Well, you would be wrong. There is another finance facility that also offers a tax-effective solution for business vehicle buyers – Motor Vehicle Leasing. ## Motor Vehicle Leasing Overview Leasing has been an extremely popular form of business finance for motor vehicles for a long time and can be extremely tax effective for many businesses. All types of businesses can utilise leasing including SMEs, ABN holders, family enterprises, medium companies and large fleet operators. It is often referred to as an ‘off-balance sheet’ form of finance as the ownership of the vehicle is retained by the lender. The vehicle is entered on the lender’s balance sheet and as such is ‘off’ the books of the borrowing business. This can be a benefit to some businesses as it is seen to ‘improve the appearance’ of the balance sheet. We provide motor vehicle leasing with fixed interest rates, fixed terms and fixed monthly lease payments. A residual is optional. This component can be varied, within allowable limits, to structure cost-effective finance for high-end priced motor vehicles. No deposit leasing is available through Jade Car Loans so the full purchase price can be included in the finance deal. Leasing is available across all categories of vehicles used in a business including passenger cars, utes, cab chassis, SUVs, light commercial vans, wagons and others. We can achieve effective motor vehicle leasing for low docs, no docs and bad credit applicants. If purchasing a vehicle for an employee where the employee is prepared to contribute a portion of their salary to the costs, speak with us about Novated Leasing with Salary Sacrificing. ## Leasing-Chattel Mortgage Comparison Deciding as to whether Leasing or Chattel Mortgage is better suited to a business should involve discussions with your accountant. The assessment should based on the objectives of the individual business. As a rough guide, we offer this comparison of the key features and benefits of Leasing and Chattel Mortgage: - Vehicle ownership: With Chattel Mortgage the ownership of the vehicle is immediately transferred to the borrower and entered on the business balance sheet. As mentioned above, with Leasing the lender retains ownership so the asset is not listed on the borrower’s balance sheet. This may be of particular benefit to new and smaller businesses. - Depreciable asset: To take advantage of accelerated asset depreciation measures, the asset/vehicle must appear on the balance sheet of the business claiming the depreciation. This is the case for borrowers with Chattel Mortgage but not with Leasing. - GST treatment: Chattel allows the full amount of GST on the vehicle to be claimed on the next corresponding BAS for businesses registered for GST. With Leasing, GST is applied to the monthly lease payments (excluding the interest portion) and claimed as, and when, appropriate. - Tax deductions: With Chattel Mortgage the major tax deduction on the cost of the vehicle and the finance is through depreciation. The interest on the finance can be deducted as an expense. With Leasing, the monthly leasing payment is considered a business expense and is fully tax deductible. Depending on the leasing payment amount, this can be a considerable annual deduction. - Pre-approved finance: We offer this service on all finance facilities. - Accounting methods: Chattel Mortgage is best suited to businesses that use the cash accounting method and Leasing for those that implement the accruals method of accounting. - Interest rates: Chattel Mortgage does attract a lower interest rate than Leasing. But with our better interest rates across the board, we can achieve highly competitive motor vehicle leasing deals. Refer to our [business car loan calculator](/car-finance-interest-rates "Calculate Your Commercial Vehicle Financing Online") to compare repayments on both types of finance, while taking into account the other features and benefits of these two most popular vehicle financing facilities for your business. ## Securing a Cheap Interest Rate Vehicle Leasing Deal If Leasing is of interest to you, speak with one of our consultants for a quote on a cost-effective and tax-effective deal for your business vehicle purchase. We can source cheaper [commercial car finance rates](/car-finance-interest-rates) and structure individual Leasing deals to suit specific business requirements. Leasing may not be seen as suitable for the major tax deductions associated with accelerated asset depreciation measures but it still offers significant tax deductible elements. **Contact Jade Car Loans at 1300 000 003 for a tax-effective vehicle leasing quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [The Race to a PB Car Loan](https://www.jadecarloans.com.au/blog/the-race-to-a-pb-car-loan) **Published:** November 20, 2021 **Author:** Publisher **Content:** To brighten COVID-jaded spirits during lockdown, many turned to the games in Tokyo and what a great show our athletes put on despite the challenging conditions. So much podium action provides plenty to motivate and inspire those back home. While we can’t all be high performance athletes competing on the world stage, we can work towards achieving our PBs. Our personal bests in various aspects of our lives to deliver better outcomes for ourselves. Take personal finance for example. An area of both business and private life that can have long term positive outcomes when approached in the right way. Consider how strategies used by high performance athletes can be applied to scoring a PB with your car loan. Note how top players and athletes listen to their experts, and their coaches for direction. They set goals and work towards achieving those targets according to a specific plan. And they focus. Rarely do you hear of spontaneous, knee-jerk decisions in training or on the big day. They stick to their game plan and run their race. When it comes to achieving a personal best car loan, the goal for most car buyers is the cheapest finance deal. The cheapest deal can be linked directly with the cheapest interest rates which then delivers the lowest repayments. As experts in motor vehicle finance, Jade Car Loans shares motivational tips and strategies to assist buyers in their quest to achieve a PB car loan at the cheapest interest rate. ## Engage with an Expert If you don’t know something, you seek out someone who does to assist. This can be an especially important first step in achieving a [cheaper business car loan interest rate](/car-finance-interest-rates "Catch the Best Deal: Explore Lower Interest Rates for Business Auto Loans"). Undertaking the task yourself, on your own, can be time-consuming, confusing and challenging. Jade Car Loans offers a broker-style motor vehicle finance service to both businesses and private car buyers. A service that takes much of the pain out of the game and can deliver those sought-after gains. Those who do go it alone may need to source and apply to multiple banks and lenders to have enough quotes to compare and make a well-informed decision. Not only is this a time-consuming process, but multiple loan applications can hurt a credit score. An outcome that can be a major setback to future credit applications. By engaging a [specialist loan broker](/why-jade-car-loans "Expert Loan Mediator for Unique Financing Needs") like Jade to handle your game plan, sourcing a quote from across our multiple accredited lenders is completed quickly, effectively and without affecting a credit score. ## Checking Out the Competition Knowing what their up against can be a major driver for athletes. It can drive competitors to perform beyond expectations. In finance, we offer you a lender comparison chart to check out the lending competition. To save you the time of shopping around for loans, simply refer to our Lender Comparison Chart to see what [banks](https://www.westpac.com.au/ "Explore Westpac") and [lenders](https://www.pepper.com.au/lending "Explore Lenders: Pepper") are currently offering on private car loans. ## Avoid Distractions Focus is key to performance and that means avoiding distractions. Jumping in to sign up for say dealer finance or what may appear a ‘too good to be true’ finance deal can lead to a more expensive car loan and long-term pain. While finance at the point of purchase may appear convenient and easy, it may not be the cheapest deal available. When making such an offer, take at least a moment to contact us or refer to our [business car loan calculators](/car-finance-calculator "Estimate your Commercial Vehicle Financing") to see what better offer we can source for you. ## Top Performers What car you buy can of course affect the car loan, in terms of the price of the vehicle and/or any special offers available. It can also impact the ongoing costs of service and maintenance. Buying popular makes and models can be an indication of what other buyers have identified as good performers and might even direct you to where the best deals are right now. According to the June sales figures, Toyota was the leading manufacturer with Mazda second, followed by Ford, Kia and Hyundai. SUVs and utes gave dominated the sales figures for some time and the Ford Ranger and Toyota HiLux continued that trend in June for utes. The Mazda CX-5 and Cerato by Kia were also in the top 5 best sellers for the month. Timing your purchase can deliver cost savings. EOFY and end of model run-outs can present significant discounts on the ticket price. ## Enacting Your Game Plan Planning to plan is not a plan. Enacting a plan is action. So when considering [ABN car finance](/abn-car-loan "Explore ABN Vehicle Financing Options Here"), find your vehicle and set a target for the loan repayments that will work with your budget as a good starting point to brief your Jade consultant. Loan repayments are calculated based on the interest rate and the loan term. A shorter loan term will result in higher repayments but the car will be paid off sooner. Longer loan terms mean lower repayments but more in total interest and a longer time before the debt is cleared. Use our calculators to see how the price of the cars you are considering may play out in terms of loan repayments. This is a great tool to narrow down the wish list as well as to plan how you would like your loan structured. Be mindful of when you might want to update your vehicle. By timing possible resale time with the loan term, any fees for paying out the loan early may be avoided. Now it’s time to contact [Jade Car Loans](/approval "Jade Car Loans: Your Path to Affordable Vehicle Financing") and give us your brief. Our consultants swiftly move into action to source the cheapest loan quote or PB, process applications, handle all the negotiations and dealings with the lender and assist you with the paperwork. A PB car loan can be achieved with our cheap interest rates and sticking to a proven game plan. **Contact Jade Car Loans at 1300 000 003 for a PB quote on private or business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Refocus on Business Finance](https://www.jadecarloans.com.au/blog/refocus-on-business-finance) **Published:** November 20, 2021 **Author:** Publisher **Content:** Over the first half of 2021, there were more than a few major events to distract business owners from their businesses. Budget time in May-June was backed-up almost immediately by EOFY time which happened right amid yet more COVID-19 outbreaks. Time for those daily press conferences and announcements to stay across how it affects you and deal with the relevant fall-out. With several states sent into lockdown, it was a disruptive few months, with plenty of issues to divert attention away from the main game – your business plans. While for millions in the Greater Sydney and adjacent LGAs, the lockdown continued for a long time, finally the time came for business operators to get back to business. To refocus attention back to where you were some months back. Time to revisit and address business plans and decisions or risk playing catch up later in the financial year. Moving on with taking advantage of the tax measures on offer with motor vehicle investment plans. That’s right. Remember [IAWO](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/ "Instant Asset Write-Off for COVID-19 by the Australian Government") and other budget tax measures that you intended to take advantage of back in June/July? The excitement and optimism around [temporary full expensing](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/Eligibility-for-temporary-full-expensing/ "Depreciation in Accordance with ATO Guidelines: Learn More Here") and loss carryback may have been overshadowed somewhat by recent COVID issues and support measures. But those options are still on the table and the clock is ticking. Jade Car Loans provides an update and reminders to refocus on business finance and the deals available for those essential business vehicle purchases. ## Reminder: Tax Deals on the Table In the 2021/22 Federal Budget, Treasurer Josh Frydenberg announced an extension of temporary full expensing for eligible businesses and eligible assets. This is essentially an extension and amendment to the widely-lauded Instant Asset Write-off which was introduced as a stimulus measure in the early stages of the coronavirus pandemic. Regarding the purchase of business vehicles, eligible businesses can realise the full purchase price of the asset as a tax deduction in the financial year of purchase. This compares very favourably to the alternative, usual process which is to depreciate an asset incrementally over multiple years. Businesses get to deduct the vehicle price as a business expense for one year. Hence the term ‘full expensing’. The ‘temporary’ refers to the measure being in place for a set period only. For some businesses, it may to 30 June 2023. To be able to claim this expense as a tax deduction, the vehicle must be purchased with the appropriate form of finance. To ‘write-off’ or depreciate an asset, that asset, in this case a vehicle, needs to be posted to the business balance sheet. The business must have ownership of the asset to claim a depreciation benefit. [Sole trader car financing](/car-chattel-mortgage) is seen as the most appropriate form of finance as the buyer takes immediate ownership of the vehicle while the lender has the vehicle as a security guarantee against the loan. With say [commercial car leasing](/car-lease), the vehicle ownership is retained by the lender which means the borrower is not in a position to depreciate that asset. Another tax measure that can be realised regarding vehicle purchases is Loss of carryback. This is a measure introduced to provide a direct cash refund to eligible businesses. If a loss is posted by the business in the relevant years, which coincide with the COVID-effected years, that loss can be carried back and claimed against profits made in set earlier years. Where tax was paid in the profitable years, it may be refunded when the current losses are carried back. Temporary full expensing can work in concert with loss carryback. By claiming temporary full expensing with the purchase of a business vehicle, the business may then post a loss in this financial year. That is claiming such a large expense as the cost of a new ute or other work vehicle may cause the business to show a loss. That loss can then be claimed against profits made earlier and the tax paid refunded. Although you may have been distracted of late, these measures are still on the table and may be available to your business with the acquisition of new work vehicles. As we said, time to refocus! ## Update on Interest Rates Interest rates continue at historic low levels and despite good unemployment figures in June, the extended Sydney lockdown is predicted to cause negative impacts on the economy and there is little doubt that the RBA will leave rates on hold according to their stated intentions. We continue to offer [cheap business car finance rates](/car-finance-interest-rates) across all our loans with Chattel Mortgage and Commercial Hire Purchase offering the lowest. Another incentive to purchase that new vehicle with our cheap Chattel Mortgage deals. Receive the lowest interest rate, claim all the GST on the next BAS return and be in a position to claim the tax deductions of temporary full expensing in this financial year. ## Finance Options and Market Outlook If Chattel Mortgage is not for you, we of course offer the full portfolio of business vehicle finance including [low doc car loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles"), Leasing, and CHP. Leasing suits many businesses that do not want the asset appearing on their balance sheet. The leasing payments are fully tax deductible for most businesses, so a tax benefit is realised. Refer to our Interest Rates Calculator to see the difference in repayment estimates across all loan types. One of the hiccups facing motor vehicle buyers has been supply issues. Component shortages, COVID and supply chain issues in the major vehicle manufacturing hubs globally have led to delays in some makes and models reaching the Australian market. If you are looking to secure your order, speak with us about pre-approved car finance. We can arrange your finances ahead of you making the actual purchase, providing confidence to proceed with placing that order. In the work vehicle market, the June sales data shows the Ford Ranger as the top seller, followed by the Toyota HiLux and Isuzu D-Max. Due to the recent distractions across the country, EOFY deals may be extended. Time to refocus and get moving with those business vehicle purchase plans. **Contact Jade Car Loans at 1300 000 003 for a cheap interest quote on your business vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Interest Rates: RBA August Decision, Quarterly Statement & Lending Impact](https://www.jadecarloans.com.au/blog/interest-rates-rba-august-decision-quarterly-statement-lending-impact) **Published:** November 21, 2021 **Author:** Publisher **Content:** The RBA Board meets to discuss interest rates on the first Tuesday of each month, except January and the outcomes of these meetings are always keenly watched. But the first week of August was more significant than many other months with several major economic statements and an estimated 16 million Australians under some form of COVID-19 lockdown restrictions. Jade Car Loans provides an overview of [RBA’s](https://www.rba.gov.au/ "Explore RBA board") August Decision, quarterly statement and lending impact on motor vehicle finance. The RBA Board made its monthly Monetary Policy Decision (interest rates), released its Quarterly Statement on Monetary Policy and Governor Philip Lowe appeared before the [House of Representatives Standing Committee of Economics.](https://www.aph.gov.au/Parliamentary_Business/Committees/House/Economics "Official Website for the Economic Affairs Committee in the House of Representatives") Businesses and individuals would be understandably nervous as to how the scenario would play out in economic terms. ## RBA August Decision The Board kept the official cash rate on hold at their August meeting and continued with their bond buying program as previously outlined. The impact of the COVID outbreaks was noted as interrupting the country’s strong recovery and a decline in GDP would be expected in the September quarter. In the statement announcing the monthly decision, the Board notes that previous experience has shown that the economy can bounce back quickly after outbreaks but the economic outlook over coming months is uncertain and dependent on the health scenario and the measures of containment implemented. While unemployment had continued to decline through June, it was expected that an increase would be reported due to the current lockdown. It was expected to reach 4.5% by the end of 2022 and around the 4% mark at the end of 2023. Despite a spike in the CPI (Consumer Price Index) inflation rate in the June quarter, inflation remains at 1.75%. The RBA Board repeated its earlier commitment to not increasing the official cash rate from the current 0.1% until inflation is sustained around 2-3% which is not anticipated until 2024. ## Quarterly Statement on Monetary Policy In his opening statement to the Economics Committee, RBA Governor Philip Lowe highlighted the five themes contained in the Quarterly Statement, due to be released later that day. These are that the economy has bounced back strongly from the pandemic; that recovery has seen interruptions by lockdowns; once restrictions ease the economy is expected to bounce back; the upsides seen in output and jobs figures have not been experienced in prices and wages; and that the RBA monetary policy is providing significant support to the economy. Of particular note for the lending sector was the elaboration regarding the official cash rate. Dr. Lowe said that the Board was looking for sustained inflation growth. Not just sneaking across the 2% target rate for one or two quarters but well into the target range of 2-3%. Labour costs and wage growth would be watched closely. This was not expected until 2024. ## Lending Rates Outlook The continuation of outbreaks of the Delta variant and resulting lockdowns is generally expected to have an impact on overall GDP and especially on unemployment. These figures are significant to any increases in the official cash rate and as such the RBA timeframe of 2024 for any increase is expected. The official cash rate determines the basis for many of our banks and non-bank lenders to set their rates on motor vehicle finance. However, those lenders that acquire funding from overseas sources may incur higher funding costs. Individual lenders may increase their rates in different markets based on their appraisal of the market and their costs of borrowing. Currently, the [interest rates for business car loans](/car-finance-interest-rates "Discover Competitive Financing Rates for Commercial Vehicle Loans") are at historic lows across our loan portfolio. The rate does vary for different products with business finance rates lower than personal car loan rates, secured loan rates lower than unsecured rates and [car loans for sole traders](/car-chattel-mortgage "Tailored Auto Financing Solutions for Independent Business Owners") and [car hire purchase](/commercial-hire-purchase "Commercial Hire Purchase Solutions") being the cheapest of the business finance interest rates. Aspects of individual loan applications will determine the interest rate and any specific conditions attached to individual motor vehicle finance contracts. Both individuals and businesses are reminded that despite challenges faced as a result of lockdowns, close attention should be paid to maintaining a good credit profile. A good credit profile is highly significant in achieving the best interest rate and loan. We specifically mention that we negotiate all secured motor vehicle finance at a fixed interest rate. Some unsecured car loans may attract a variable interest rate. With fixed interest rate car loans, that rate remains the same for the entire loan period, which may be up to around 5-7 years. So by securing a loan at our current cheap rate, our customers will enjoy that lower, fixed repayment for the full finance term. A term well beyond the 2024 rate increase timeframe. ## Current Motor Vehicle Finance Interest Rates To review the current interest rates for business car loans, please refer to our [Business Car Loan Calculator](/business-car-finance "Commercial Vehicle Finance Calculator: Plan Your Financing with Jade Car Loans"). This calculator has been developed to assist loan seekers in quickly estimating repayments on any vehicle they are considering before committing to a sale. The rates are generally applicable to the purchase of new vehicles in all categories. The next meeting of the RBA Board regarding interest rates is scheduled for the first week in September and by then, the impacts of the current lockdowns should be reported in economic data. **Contact Jade Car Loans at 1300 000 003 for cheap interest rate car loan quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [New Beaut Utes Attract Low Interest (rates)](https://www.jadecarloans.com.au/blog/new-beaut-utes-attract-low-interest-rates) **Published:** November 22, 2021 **Author:** Publisher **Content:** Utes, aka single and double cab chassis vehicles, attract plenty of attention from buyers as perennial chart toppers in the car sales data. But while the interest is high from buyers, it can be low in terms of the interest rate on finance to purchase these essential work vehicles. Loans for brand new beaut utes attract low interest rates across the Jade Car Loans finance portfolio. The rates that can make the purchase a potentially extremely cost-effective business decision. How low will depend on the finance facility selected and aspects of the individual loan application. Cheap interest rate finance is available across the full range of cab chassis vehicles, including the latest model releases. We check out some of the new techs and features currently being offered on some new beaut utes and the low interest rate loan options available for business buyers. ## New Chevy Silverado Models Arrive The Silverado appears to be growing in popularity with local buyers and Australian distributor General Motors Specialty Vehicles has just launched the latest Trail Boss model into the market. This is the 1500 LT model and for those wanting more grunt, the 2500 HD is due later this year. The Trail Boss is a 6.2 litre V8 off road with a max trailer weight of up to 4.2 tonnes. A true workhorse that will suit many operators across a multitude of working environments. Check out the full specs and features. The Silverado models are US imports and converted from left to right hand drive here in Australia by the highly-regarded Walkinshaw Group. To allay any doubts about financing conversions – Jade Car Loans offers our full range of loans for these vehicles. So you can refer to our [commercial vehicle calculators](/car-finance-calculator "Explore Competitive Rates for Commercial Auto Financing") and [business car loan interest rates](/ "Explore Competitive Rates for Commercial Auto Financing") to calculate possible repayments. ## HiLux Receives Key Upgrades Toyota has released news that its new HiLux models due in Australia later this year will arrive with tech, safety and comfort upgrades. Key to the upgrades is the Toyota Connected Services (TCS) as a standard inclusion on all models. Company VP Sean Hanley says these upgrades demonstrate Toyota’s commitment to continually improving its vehicles. TCS assists if involved in a collision or if the HiLux is stolen. The system can automatically make a call to the Toyota emergency centre and relay the vehicle’s location in the event of a collision. Those in the vehicle can also trigger that call with the SOS feature that transmits the location of the vehicle to trigger assistance. This sounds like an essential peace-of-mind feature for those working on rural properties and in remote locations. With 33 models in this chart-topping range, there is sure to be one to suit your business requirements. But which one? You can work out what HiLux you want with what extras and options based on price by using our loan calculator. To find out estimated pricing refer to the Toyota [media release](https://www.toyota.com.au/news/toyota-hilux-and-fortuner-gain-key-upgrades "Press Announcement for the Latest News") and pricing. Then input these prices into our car loan calculator to see the estimated repayments. For those looking to pre-order ahead of the expected October availability, speak with us about pre-approved finance. ## RAM 1500 The all new RAM 1500 DT arrived in dealerships back in May and increases the 1500 model range to five. Plenty of choice for those looking for a massive pick-up truck. The models include Express Quad, Crew Cab, Warlock, Laramie and Limited. The even bigger 2500 and 3500 new models are due to hit Australian dealerships later in 2021. But with global delays in many vehicle production lines, pre-ordering could be a smart idea. Once again, consider pre-approved finance. The interest rate on pre-approved motor vehicle finance is the same as for loans sourced post-order. ## Cheap Interest Rate Ute Financing Utes are the workhorses for many Australian industry sectors and operators need their utes to deliver productivity through performance. Productivity gains can start with finance. Signing up for a higher interest rate loan than you could be offered is starting way back on the grid in terms of achieving bottom line targets. The interest rate is the key determinant of both the monthly repayments and the total cost of the loan. Sourcing the cheapest rate ensures both of these are kept to a minimum. The business car interest rates vary across the range of business finance products. While it is tempting to just go for the lowest rate product, this decision should also take into account specific benefits to a specific business of the features of each loan type. A decision process should involve the business accountant or financial advisor. The range of ute finance includes:- - [Business Car Leasing](/car-lease "Explore Commercial Vehicle Lease Options") - [Car Chattel Mortgage](/car-chattel-mortgage "Unlock Car Ownership with Chattel Mortgage Financing") - Car Hire Purchase (CHP) Chattel Mortgage and CHP offer the cheapest interest rate. Chattel Mortgage is best suited for businesses looking to take advantage of the tax benefits of IAWO and temporary full expensing. Our consultants source and negotiate the cheapest possible interest rate on an individual basis so our customers are assured of the lowest rate on their new ute finance. To see how low, contact us for a [no obligation quote](/approval "Get a Quote Without Commitment"). **Contact Jade Car Loans at 1300 000 003 for cheap interest rate new ute finance.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Latest Economic Data, Global Events and Local Vehicle Lending Interest Rates](https://www.jadecarloans.com.au/blog/latest-economic-data-global-events-and-local-vehicle-lending-interest-rates) **Published:** November 22, 2021 **Author:** Publisher **Content:** The July unemployment figures are the latest economic data to be released and the result on the surface appears somewhat at odds with predictions and the current reality facing millions of Australians under current COVID lockdown restrictions. As most of our regular readers and customers will be aware, unemployment is one of the major indicators, identified by the [Reserve Bank of Australia](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") (RBA) which can contribute to a decision to move on interest rates. So many businesses in the market for finance will be keeping an eye on both the monthly jobs data as well as inflation figures. But the Australian economy is also impacted by the international scene and several significant events are happening around the globe worth keeping an eye on. How does all this play into the interest rates on motor vehicle finance? As simplistically as possible, Jade Car Loans unpacks some of the latest economic data, global events and local vehicle lending interest rates. Providing a basic explainer regarding how world events have a potential impact on the domestic lending scene. ## Unemployment Figures Unpacked For another consecutive month, Treasurer Josh Frydenberg announced the monthly unemployment figures in a sombre mood in mid-August. With the COVID-19 outbreak in NSW forcing millions into lockdown and businesses to close and outbreaks emerging in Victoria and Queensland just out of the woods, analysts were predicting unemployment to rise from the June 4.9% level to above 5%. But those predictions were not realised with unemployment falling to 4.6%. What??? Yes, that was the predominant reaction across many sectors. How could unemployment fall with what would appear as so many out of work due to the expansive lockdowns? 4.6% is the [lowest unemployment level](https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/latest-release "Check out the Record Low Unemployment Rate") recorded in Australia since 2008. But the participation rate fell by 0.2%. This is how many people are looking for work. When the participation rate falls, it can indicate that people have given up looking for work – not a good sign for the economy. Also of significance is the under-employment levels. This is the number of people who are not receiving enough hours of work. That rate for July rose by 8.3% A better picture of what may be happening needs to include a state-by-state analysis. But the July figures reflect a period in the early part of July. A time when NSW was expecting and hoping to emerge from lockdown at the end of July. It is expected that the August and September figures will show a different scenario as the full impact is felt. However, on the positive side, over 250,000 NSW businesses have applied for the State and Federal funded grants scheme to support businesses through the lockdown period. A criterion of the applications for these grants is that businesses retain the same number of employees. One of the grants is based on business wage bills. So many businesses will need to at least keep their employees connected to the business. How this is playing into the jobs figures is not clear. The RBA has indicated it was looking to a further drop in unemployment, expected to be low or sub 4% before triggering a rate rise. But the inflation figures appear equally if not more significant to the RBA. Based on this assessment, the July unemployment data is not expected to trigger the RBA to raise rates any time soon. The Treasurer has predicted the Australian economy would likely contract by around 2+% in the September quarter as a result of the lockdowns but strong cash holdings in business and individual bank accounts should result in a bounce back. ## Global Events While the local COVID-19 outbreaks will be the highest priority for most business operators, events occurring around the world may also be significant to the Australian financial sector. Just days before a new outbreak of Delta COVID emerged across the ditch, analysts were predicting that the NZ Reserve Bank was ready to lift interest rates at their 18 August meeting on the back of the economy overheating. However, the restrictions incurred as the new outbreak spread, caused the RBNZ to hold the official cash rate and monetary policy at existing settings. The issues in Afghanistan are of major concern to many people. The stock markets both in the US and in Australia usually react to such events with share prices rather than lending rates impacted. Severe weather events across the globe including ongoing wildfires in North America and Greece, severe rain events and landslides in Japan and Germany and an earthquake in Haiti are certain to have economic impacts. For Australian lenders that source funding from some international banks, their borrowing rates and availability of funding may be affected. What may affect many motor vehicle buyers in Australia is the ongoing global computer chip shortage. This has caused production delays and cutbacks in many motor vehicle manufacturing factories impacting multiple makers. Toyota just recently reported it needs to cut production by 40% in some of its factories as it ran out of chips. Global supply chains in many areas continue to be impacted by COVID-19 issues and both this and the chip issue are highly likely to impact the supply of some brands of motor vehicles on our local market. It may also play out in increased prices as demand outplays supply. Astute buyers may want to bring forward their motor vehicle buying plans to secure existing stock now rather than waiting a few months. We do provide pre-approved finance for buyers wanting to pre-order vehicles. ## Local Lender Interest Rates While multiple and ongoing issues continue to impact the Australian economy and create somewhat of an uncertain atmosphere, interest rates on motor vehicle finance continue to hold steady at low and very attractive levels. We are currently in a position to offer extremely [cheap business car loan rates](/car-finance-interest-rates "Explore Affordable Interest Rates for Commercial Vehicle Loans") on our loan portfolio for both [business car financing](/overview-of-business-car-finance "Discover Financing Solutions for Corporate Vehicle Needs") and [private car financing](/personal-car-finance "Discover Financing Solutions for Corporate Vehicle Needs") customers. To see what is currently available, please refer to our interest rate calculators or give us a call for a quote. Our team continues to keep an eye on economic indicators and assess the impact on lending rates. The next meeting of the RBA Board is scheduled for the first Tuesday in September. No increase in rates is expected but the RBA’s assessment of the economy will as usual be highly anticipated. **Contact Jade Car Loans at 1300 000 003 for a cheap interest rate motor vehicle loan quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Uptick on Uptake of EVs: Tick the Subsidy and EV Finance Boxes](https://www.jadecarloans.com.au/blog/uptick-on-uptake-of-evs-tick-the-subsidy-and-ev-finance-boxes) **Published:** November 24, 2021 **Author:** Publisher **Content:** While it is widely acknowledged that Australia has been slow in the uptake of electric vehicles compared with many other countries, sales of EVs in Australia in the first part of 2021 have seen a significant uptick in the uptake. Jade Car Loans outlines how buyers could also tick the subsidy and EV finance boxes with cheap EV car loans. Sales figures for just the first six months of 2021 nearly equal the full year sales results for 2020. This sales increase could be attributed to several factors, some of which are personal buying decisions. Sales could be driven by attitudes to climate change, the expanding range of EVs on the market, the low interest rate finance climate and the lure of subsidies being offered by several states. NSW and Victoria both included incentives for EV buyers in their state budgets earlier in the year. Now it appears South Australia will also offer incentives for buyers. To add to the offers and options for EV buyers, we also include a full range of [car loan options](/overview-of-business-car-finance "Discover Choices for Auto Financing") at cheap interest rates. There are certainly plenty of reasons to consider making your upcoming car purchase an EV. ## State EV Incentives and Subsidies The NSW Government EV strategy was unveiled in the Budget in May, shortly before Greater Sydney and then regional NSW went into an extended lockdown. The incentives include phasing out the stamp duty payable on certain EVs. The budget plans did have a September timeframe for take-up but due to the restrictions of the lockdown, Parliament has been unable to meet to pass the legislation. Due to the delays, Treasurer Dominic Perottet has announced that the rebates and exemptions to stamp duty would be made retrospectively once the Bill is passed in its entirety. Prospective NSW buyers can review the [Government’s EV policy](https://www.nsw.gov.au/initiative/nsw-governments-electric-vehicle-strategy "Explore the Official Electric Vehicle Policy") The South Australian Government also presented a Motor Vehicles (Electric Vehicle Levy) Amendment Bill in late August. The Bill includes a $ 3,000 subsidy for the purchase of a limited number of EVs and reform of the road user charges. However, some see issues with the SA proposition regarding a charge on plug-in hybrid models. This would not come into effect until 2027 or at a point when 30% of new sales are EVs. The Bill is yet to be passed by the SA Parliament and the opposition and minor parties have called for amendments. Full details of the SA proposal can be reviewed in Treasurer Rob Lucas’ media release. Manufacturers are understandably concerned over the effect this may have on their PHEV models. Some see their buyers paying more in charges than buyers of combustion engine cars. If this plays out it would be certain to delay any further increase in the EV uptake. The ACT and the Northern Territory have also introduced incentives for EV buyers and consumers in those territories can review what is on offer at their relevant treasury website. ## EV and PHEV Model Options Manufacturers continue to expand their ranges with new EV and PHEV models. While some such as Tesla are regarded as the luxury, top of the range in pricing, there are more budget-friendly offerings on the market. Buyers can review a comprehensive [overview of multiple brands](https://electricvehiclecouncil.com.au/about-ev/evs-available/ "Get a Glimpse of Various Brand Summaries") Another interesting resource enables buyers to [compare the green credentials](https://www.greenvehicleguide.gov.au/ "Assess the Environmental Ratings") of many vehicles currently sold in Australia. ## Adding Affordability to the Buying Decision The two major deterrents to buying an EV for many buyers seem to be the availability and widely accessible public charging station infrastructure and price. Many auto bodies continue to lobby the Federal Government to establish charging infrastructure and several companies have set up public access networks. When considering [car loans for business](/business-car-finance "Explore Financing Solutions for Corporate Vehicles"), it’s worth noting that accessibility to EVs is getting easier and hopefully will continue to improve. Like most goods and services, demand and supply should also stabilise prices for EVs across the market. The other factor to consider when buying an EV is the apparent lower maintenance costs. While we’re not in a position to influence the pricing that manufacturers attach to their vehicles, we are ideally placed to make vehicles more affordable with cheap EV finance. For many buyers, the price tag is one thing but the more relevant dollar figure is the monthly repayment on their car loan. That is where we can make a difference in the affordability of your new EV with our cheap interest rate EV finance. Jade Car Loans offers a comprehensive range of motor vehicle finance products for both business and private buyers of EVs, PHEVs and traditional powered vehicles. The same interest rate and loan features apply regardless of the power source. For private buyers of new EVs, the [Secured Car Loan](/secured-car-loans "Discover Auto Financing with Collateral") is the most popular type of loan. Business buyers can select from:- - [Sole trader car loans](/car-chattel-mortgage "Tailored Vehicle Financing for Independent Business Owners") for EVs - EV Leasing - EV Commercial Hire Purchase As our interest rates are consistent across new vehicle purchases, buyers can use our [business car loan calculators](/car-finance-calculator "Utilise Commercial Auto Loan Calculators") and Interest Rate Comparison Calculators to calculate repayment estimates on the EV of their choice. While state government subsidies may draw more to the EV market, cheap interest rate finance continues to tick a very significant box for buyers of all types of new vehicles **Contact Jade Car Loans at 1300 000 003 to discuss finance on electric vehicles and a quote for your purchase.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Car Deals, New Models, Latest Offers, Buying Tips](https://www.jadecarloans.com.au/blog/car-deals-new-models-latest-offers-buying-tips) **Published:** November 24, 2021 **Author:** Publisher **Content:** If you’re in the market for a new vehicle either right now or shortly, the hot tip is to get in NOW and place your order. Yes, we stress ‘place your order’ because the news across the motor vehicle industry is to expect delays in the arrival of new models for many brands. Delays are anticipated into 2022 due to the ongoing production issues caused by the computer chip shortage. Jade Car Loans gives a wrap of car deals, new models, latest offers and buying tips for buyers keen to get a cheap loan on a new vehicle. The global shortage has been playing havoc with production schedules for some time and delayed many launch dates of new releases in the Australian market. But several 2021 launches have arrived including the [Audi](https://www.audi.com.au/au/web/en.html "Discover Audi's Official Website") A4 Allroad and Q5, [BMW](https://www.bmw.com/en-au/home.html "Discover BMW") 128i, M3 and X7; as well as several new Ford Ranger and Hyundai models to mention just a few. Buyers seeking new vehicles will be well-advised to get on the phone with dealers to discuss the current and/or expected availability of the vehicle of their choice so they can make their purchasing plans. Jade Car Loans supports pre-order buyers with our pre-approved car finance. Pre-approved loans are available across our [business loan portfolio](/overview-of-business-car-finance "Browse Our Business Financing Portfolio") and at the same interest rate as finance arranged after a purchase commitment has been made. Pre-approved finance does have a timeframe which our consultant will discuss with you. If that timeframe expires before the arrival of your vehicle and finalising your purchase, the loan would need to be re-quoted. However, with the loan application already passing through the initial approval stages, the review and re-assessment process could be considerably streamlined. This type of finance does give buyers a great indication of what they are approved to borrow and hence a good guide to what vehicles to consider. To discuss this further, contact us. ## New Model Heads-Up We took a quick scan across what deals are currently available and what is expected later in the year – computer chips allowing! [Mitsubishi Outlander](https://www.mitsubishi-motors.com.au/vehicles/outlander.html "Explore the Mitsubishi Outlander Model") is a very popular mid-sized SUV and the new model due later in the year comes with new features in tech and safety. But reportedly with a price hike. An added reason to ensure you secure the cheapest interest rate finance on this purchase. But worth checking out for the new, bold styling and the more luxurious touches. Subject to delays and with a manufacturer’s advisement to contact your dealer for availability is the new [Mitsubishi Eclipse Cross](https://www.mitsubishi-motors.com.au/vehicles/eclipse-cross.html "Discover the Mitsubishi Eclipse Cross SUV") plug-in hybrid. Special deals on the Eclipse Cross ES have been noted by certain dealers. The offers included drive-away pricing which includes significant discounts on on-road costs of rego and stamp duty. Sure to attract plenty of attention will be the new Chevy Silverado HD from GMSV which is due in November. Local pricing has been announced so prospective buyers can start inputting figures into our loan calculators to work up estimated repayments on finance. November is not that far out, so starting your pre-approved finance application now is advisable. For those looking to buy now, deals have been spied on several vehicles including the LDV G10 van for business owners and luxury buyers, check out what BMW dealers are offering on the 218i Gran Coupe. ## Used Vehicle Market and Finance There has been a lot of attention on the used car market over the past 18 months or so with prices on the up. Great for sellers but not so great for buyers. This trend has been attributed to several factors which coincide with the fall-out of the coronavirus pandemic. With the anticipated delays on many new vehicles, should you consider buying a relatively young but used vehicle? The new v used debate is ongoing with no clear-cut winner, ever. Some say new vehicles lose value as soon as they are driven out of the showroom but others always buy new. When it comes to what’s on the table, each deal needs to be considered individually. New vehicles come with extensive servicing offers and long warranties which can reduce regular service costs for many years. But used car dealers may also offer good warranties and extras. When it comes to finance, our lenders will take the age and condition of a second-hand car into consideration when quoting a loan deal. New vehicles can attract the best interest rates but we can source very attractive rates on used car finance across our loan portfolio. Note that advertised [competitive business car loan interest rates](/car-finance-interest-rates "Affordable Business Vehicle Finance Rates at Jade Car Loans") are based on new goods. If considering purchasing a used vehicle, contact us before heading to the dealerships. Having your [new business car loan](/new-car-finance) finances pre-approved can provide buyers with confidence, a ceiling on what they can afford to spend, and a negotiating tool when discussing prices. Being in a position to sign the deal on the spot can work in your favour. Contact us for a pre-approved used car loan for an estimated amount you are planning to spend. So in summary, if you’re in the market for a new vehicle, you should start to make enquiries and get on the list for when that model hits the market. For both new and used buyers, going down the pre-approved car finance route can pay dividends. **Contact Jade Car Loans at 1300 000 003 for a cheap interest rate motor vehicle loan quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [HiLux Tops August ’21 Car Sales](https://www.jadecarloans.com.au/blog/hilux-tops-august-21-car-sales) **Published:** November 24, 2021 **Author:** Publisher **Content:** The August 2021 car sales results have been released and once again, Toyota’s all-time workhorse, [HiLux](https://www.toyota.com.au/hilux?gclid=CjwKCAiA4veMBhAMEiwAU4XRr0fA6p36MvYH5cbjEJPyeekSI4dpBs9Q-6FVE8LG_U8KfChu6Wkz-RoCU-4QAvD_BwE&gclsrc=aw.ds "Hilux: The Unrivaled Workhorse by Toyota") has topped the sales sheets with the [Ford Ranger](https://www.ford.com.au/commercial/ranger/ "Explore the Ford Ranger") in second place. Many car buyers watch the monthly sales figures to see what’s selling as an indication of what they may consider. But in the era of COVID, monthly sales results should be considered in context. Jade Car Loans updates on [business vehicle financing options](/overview-of-business-car-finance "Explore Diverse Choices for Commercial Vehicle Financing") available for top sellers in the August ’21 car sales results. Comparing 2021 to 202, total sales for August 2021 are up 33% compared with August 2020. But reflecting, August 2020 was a very uncertain time with the nation trying to come to terms with the full economic and social impact of COVID-19. Yes, August 2021 was also a challenging time with multiple states and territories in various stages of lockdowns. But it may be said that both individuals and businesses have a better handle on what the COVID scenario represents. They may also have renewed optimism to proceed with vehicle purchases as vaccination rates approach the key targets for the reopening of the economy. However, when comparing August figures on a 5 year average basis, sales are down. No doubt reflecting the challenges presented by COVID both in accessing new vehicles and buyer preparedness to invest. The [FCAI](https://www.fcai.com.au/ "Visit the Federal Chamber of Automotive Industries (FCAI)") also notes that car makers have pivoted and amended their selling resources and approach due to COVID and were working hard to connect with their buyers who were in lockdown and/or isolation. Many are offering an online and click and collect buying model. When comparing the rankings of brands and individual models, consideration must be given to delays in global production caused by both COVID issues and the shortage of computer chips. The microprocessor shortage especially is causing factories in multiple industries to cut back production significantly. This is a result of the drought in Taiwan which is the world’s biggest producer of chips. So monthly sales figures may reflect more the supply or timing of shipments arriving in Australia than overall popularity. Those not in the top 10 may have orders ready to fill as soon as shipments do arrive. According to reports, Nissan with their highly popular Navara, is a brand that does have back orders but is awaiting the arrival of vehicles for buyers. Comparing August to previous months, all categories especially light commercial, were down in June 2021 which could reflect the EOFY rush to buy and take advantage of IAWO and temporary full expensing in the 2020/21 financial year. These tax incentives are still on offer for this financial year and business buyers can discuss the various finance options with our Jade Car Loans consultants. SUVs are still the stand-outs and count for a significant percentage of sales with the larger SUV models showing the biggest increase in sales. ## The Top 10 Models and Brands Drum roll, now for the nitty gritty and the specifics in the top 10. As noted above Toyota HiLux leads in the top spot, with the Ford Ranger in second position and the Toyota Corolla in third. Next is another two Toyota models, the top-selling SUVs RAV4 and Prado. The final 5 are the Mazda CX-5, the Hyundai i30, the Isuzu D-MAX, the MG ZS and the Mitsubishi Outlander. Now looking at the top selling brands and with 4 models in the top 10, it is not surprising that Toyota blitzed all other makers for top selling brands. Mazda came in second, followed by Hyundai, then Ford and Kia. The final 5 were made up of Mitsubishi, Nissan, Volkswagen, MG and Subaru. What can potential buyers take from these latest figures in selecting their vehicle? Possibly considered a matter of general interest rather than a clear indication of the high popularity of some makes and models due to availability issues especially. If in the market for a new vehicle, buyers will need to weigh up availability timing against their need to purchase when making decisions. For those with their heart or wallet set on a particular make/model, it may be a matter of putting in your order and waiting for your shipment to come in. If looking at pre-ordering a new vehicle, speak with us about pre-approved finance. We offer this option across all our vehicle finance products, both private and business. Others may need to shortlist a few models and discuss delivery timing with dealers if there is an element of urgency to the purchase. Using our loan calculator allows for rough repayment estimates to be calculated quickly when discussing deals with dealers. ## Finance Scenario While vehicle sales are strong, the motor vehicle finance situation also remains attractive. The RBA kept the official cash rate on hold at their September board meeting, meaning lending rates in many sectors remain at historic lows. Refer to our Interest Rate Comparison calculators for our current rates across our portfolio. [Business Car finance rates](/car-finance-interest-rates "Check Out Competitive Rates for Corporate Vehicle Financing") are not determined by the actual make/model. Rates vary across different loan types and loan offers are primarily determined by an assessment of individual loan applications. As all our car loans are sourced, quoted and structured on an individual basis, please connect with us via [email, online](/approval) or by phone for a cheap interest rate car finance quote. **Contact Jade Car Loans at 1300 000 003 to discuss motor vehicle finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Go the MAX with your ute and the MIN with your ute finance](https://www.jadecarloans.com.au/blog/go-the-max-with-your-ute-and-the-min-with-your-ute-finance) **Published:** November 24, 2021 **Author:** Publisher **Content:** When buying a new ute, buyers typically have two key objectives – to maximise the value of the deal and the options on the vehicle and to minimise the ute finance commitment. Jade Car Loans offers a plan on how to go the MAX with your ute and MIN with your finance. Possibly start with considering a real ‘MAX’ – the [Isuzu D-MAX](https://www.isuzuute.com.au/d-max/overview "Discover the Isuzu D-MAX Pickup Truck"). With frustrations in the delay of delivery of new vehicles across the sector caused by global supply chain issues recently many buyers may now be focussing on 2022 for their vehicle purchase and looking to what they may expect from the car makers. Isuzu is one manufacturer that has publicly stated it shares its customers’ frustrations around delivery delays but has some great news on its highly popular, the Isuzu D-MAX ute for 2022. The Isuzu D-MAX finished in 8th position in the August top 10 vehicle sales figures. But in the work vehicle category, that is just 3rd behind the Toyota HiLux and [Ford Ranger](https://www.ford.com.au/commercial/ranger/ "Explore the Ford Ranger Pickup Model"). A very popular 1 tonne ute, the D-MAX is set for some exciting upgrades for the 22MY range. ### 2022 Isuzu D-MAX Range Preview The company has issued a release that details the new models and upgrades for the D-MAX line-up which are due to arrive in the first quarter of 2022. Isuzu Ute spokesperson Hiroyasu Sato said these updates and models have been fast-tracked to meet the demand in the Australian market and many upgrades are driven by customer feedback. The Isuzu D-MAX Ute range will be strengthened with 6 new models for the ’22 model line-up. Models that offer customers an impressive selection regarding body style, tray configuration and powertrain. According to the Isuzu release, these new models are:- - SX single cab chassis, 4×2 manual, 1.9 litre - SX single cab chassis, 4×2 auto, 1.9 litre - SX space cab chassis, 4×2 auto, 3 litre - LS-M crew cab, 4×4, auto - LS-U crew cab, 4×4, auto - LS-U+ (plus) crew cab, 4×4, auto There are new features and inclusions across the range and specific to each model. ## Key Features to Note The SX range with its several new variants reportedly offers great fuel efficiency, quieter operation and an economical ute option for a wide range of trades and small businesses as well as for fleet operators. The Space Cab is a new addition to the SX line-up for 2022 and features rear-wing cabin doors and a 2100mm tray in choice of steel or alloy. The LS 4×4 variants are powered by the 3 litre turbo-diesel, have diff-lock, 1800mm tray, high payload and impressive towing capacity. The new Plus variant, the LS-U+, sits between the X-Terrain and LS-U and adds a level of luxury and class to the daily grind with its interior featuring leather accents, heated front seats, lumbar support for the driver seat and other features. The mid-range LS-U models feature smart keyless entry, a walk away door lock, an auto-dimming rearview mirror, a tub liner and a tow bar factory-fitted. The X-TERRAIN model includes a tow bar receiver, heated door mirrors, variable heated front seats, enhanced instrument cluster and stylish finishes amongst other features. Individual variants of course have their features so buyers can select exactly the D-MAX model to suit their specific application and possibly budget. These 22MY models are available in a range of colours so buyers can customise them to suit their business signage or personal style. Colours include basalt and cobalt blue in mica, metallic mercury silver and obsidian grey, as well as marble white, magnetic red and volcanic amber on some models. And of course mineral white across the range. Other than white, the colours attract a price premium. Isuzu has listed the RRP across the new models for buyers to review along with the other details. When reviewing pricing, refer to our [business car loan calculator](/car-finance-calculator "Utilise a Tool for Calculating Commercial Auto Financing") to see how the RRP converts to possible finance repayments at our current low interest rates. If you want to proceed with registering your interest in a 22MY Isuzu D-MAX via the link in the above link but want to have more assurance around finance first, [contact us](/approval "Get in touch with Jade Car Loans") to discuss pre-approved ute finance. ## Keeping Finance Repayments to a Minimum Ensuring vehicle finance interest rates and hence repayments are kept to a minimum is our specialty! Rather than shop around banks and finance companies yourself for the cheapest ute finance deal, just hand the job over to our consultants to do the hard yakka. Securing the cheapest interest rate on your choice of finance product is the key to ensuring repayments can be kept to a minimum. The interest rate determines the overall cost of the loan and once we have negotiated that low rate we proceed to securing the finance term and balloon that will deliver customers the preferred repayment amount. By using our loan calculators, you can easily see how varying the loan term up to 7 years changes the monthly repayment figure for a [hire purchase car](/commercial-hire-purchase "Explore the World of Vehicle Hire Purchase"). So if you have a target repayment level that you consider will comfortably work with your cash flow, our consultants will be working to structure your deal to achieve that objective. **Contact Jade Car Loans at 1300 000 003 for cheap interest rate finance on an Isuzu D-MAX Ute** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Buying Used? Used Car Finance Options, Tips & Hints](https://www.jadecarloans.com.au/blog/buying-used-used-car-finance-options-tips-hints) **Published:** November 25, 2021 **Author:** Publisher **Content:** The used car market has recently reported a significant uptick in sales and prices. While some always buy second-hand on principle, the current increase in sales may be attributed to issues with the delivery of new models. Global issues with supply chains, especially the shortage of computer chips have seriously affected motor vehicle production in multiple factories. The result is long wait lists for buyers here in Australia and new car dealers with order books bulging but unable to deliver. Unable to secure a brand new vehicle, buyers may turn to the second-hand market to upgrade or replace their current vehicle. A significant increase in the price of used cars has been widely noted which may be reflecting the increase in demand. These are matters that buyers will be considering when it comes time for that next vehicle purchase. Also of great consideration will of course be finance. Specifically, what, if any, upsides, downsides and differences exist between new and used car loans. If considering buying used, these used car finance options, tips and hints from Jade Car Loans may assist both private and business buyers. We provide finance for both the used and the new car market for both business vehicle and private car buyers. In this piece, we cover several points for used vehicle buyers to consider about the buying decision and the finances available. ## Used v New: The ‘No-Winner’ Debate Start the conversation over which is the best way to go – buy new or second-hand, and in many instances, there will be no reaching consensus. Everyone has their point of view and there is solid reasoning behind both. Many great quality vehicles are available on the second-hand market. There are organisations and companies, such as government departments and hire car businesses, that upgrade their fleet at scheduled times regardless of mileage and condition. Some of these are low mileage, late models and have been well-maintained. But you may find these rather basic models without a lot of the bells and whistles you may personally select for your car. Some of these may be able to be added after purchase, so they keep that in mind. New vehicles have extensive warranties which can significantly reduce the maintenance and service costs over time. Warranties seem to be a competitive battleground for some manufacturers, always increasing the offer. But it would depend on the actual warranty detail as to how attractive it is. Many used car dealers also offer warranties and the warranty should go with the vehicle not the buyer. So when buying a late model used vehicle part of the warranty may still be valid. Of course, due diligence is required when buying a used car. Referring to some of the popular motor vehicle platforms for comments and tips may be helpful, especially about some specific makes and models. When buying a second hand electric vehicle, it is particularly advised to check the battery. The battery may age as do normal batteries and may not provide the range you are expecting. ## Buying Used Cars Online Stuck in lockdown with many new car dealerships closed, buyers have had to turn to online resources and tools to make their vehicle purchases. While many new car dealers have pivoted to a click ‘n collect format, without the opportunity to see and test drive the new model, it may seem a safer bet to opt for the second-hand model which you may be more familiar with. Many used car dealers offer online purchasing and some a service to bring the vehicle to the home for the prospective buyer to inspect. Buying online from a private seller is another story and one that should be approached with care and caution. The [ACCC’s Scamwatch](https://www.scamwatch.gov.au/ "Access the ACCC Scamwatch Portal") has been reporting a rise in scams and fraud around online car sales. Privately purchased used cars can be cheaper than through a dealer as dealers will have trade-in stock and then add on their margin. If a private seller is particularly keen to sell they may also be open to serious negotiations on price. When engaging [Jade Car Loans](/why-jade-car-loans "Visit Jade Car Loans Website") as your lender, our consultants can assist greatly with used car purchases. We have the resources to check IDs, verify vehicle ownership through records and check [PPSR](https://www.ppsr.gov.au/ "Learn More About the Personal Property Securities Register (PPSR)") to ensure the vehicle is not under finance. ## Used Car Finance We provide finance for used vehicles with our [portfolio of loan](/overview-of-business-car-finance "Browse Our Assortment of Loan Offerings") types: - Secured Car Loan for Private Buyers - Chattel Mortgage - Leasing - Commercial Hire Purchase It should be noted that [business car loan interest rates](/car-finance-interest-rates "Explore Competitive Financing Rates for Corporate Vehicle Loans") advertised by ourselves and other lenders are for new goods. Our better interest rates can be achieved for used cars, depending on the vehicle and the quality of the application. Lenders will take into account the age and condition of the vehicle when making a loan offer. Specifically, this assessment may relate to the market book value compared with the price paid and/or loan amount requested. In some instances where the loan amount is seen as above the value, the lender may request a lesser loan amount for the loan to be approved. This can easily be achieved through the buyer paying a deposit to reduce the amount requested. The principle is simple – buyers don’t want to owe more on the loan than the vehicle is worth. This can be particularly relevant when it is time to sell if that timing is before the end of the loan term. When seeking finance for a used vehicle, be mindful of the detail in loan offers from used vehicle dealers. The car might be cheap but the finances are expensive. The seller may be hiding the profit waived in the vehicle price and gaining it in the finance deal. We have accreditation with a large number of banks and non-bank lenders and source the cheapest loan offer from a vast section of the market. Buying a used car can be a smart decision but make sure you do your homework and if made a loan offer from the seller, contact us for a quote to at least compare. Alternatively, contact us for pre-approved finance before discussions with the seller. **Contact Jade Car Loans at 1300 000 003 to discuss used car finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Delivering Cheap Finance for Light Commercial Van Buyers](https://www.jadecarloans.com.au/blog/delivering-cheap-finance-for-light-commercial-van-buyers) **Published:** November 25, 2021 **Author:** Publisher **Content:** The commercial vehicle sales figures show that light and heavy duty commercial vans continue to sell well. To assist businesses in securing their van with a cost-effective loan, Jade Car Loans is delivering cheap finance for light commercial van buyers. For August 2021, this segment posted 22.7% growth on a year-on-year basis and that growth continued through September. Compared with some vehicle segments that are facing stock availability that may not be the case for this segment. Back in July, it was noted that European van manufacturers appeared to have few if any issues around supply. It appears that could be the case as the Chinese brand [LDV Deliver 9](https://www.ldvautomotive.com.au/vehicles/ldv-deliver-9-large-van/ "Discover the LDV Deliver 9 Van Model") posted a significant increase in sales in September to overtake the Transit, [Crafter](https://www.volkswagen.com.au/en/models/crafter-van.html "Explore the Volkswagen Crafter") and Master and take second place. The strong demand for all types of commercial vans is not surprising considering the current economic scenario as a result of COVID-19 and most specifically, the lockdowns. With the initial phase of lockdowns in 2020 buyers by necessity had to turn to online shopping and home deliveries to acquire the goods they needed. This meant businesses needed to respond and get on board with the services to meet the demands of their customers with some form of delivery arrangements. Vans are the ideal vehicle for many of these types of deliveries and so demand for them has been strong. In the 2021 Australian lockdown experience across multiple states, the same scenario seemed to play out with demand for delivery services placing pressure on even Australia Post. Online buying remains strong and has been tipped to continue as consumers show no signs that this will slow down. Good news for those in the delivery service business as it indicates more work for the trusty white van brigade moving forward. For those in the market for a new van or looking to get a start as a delivery business, we provide information on the top selling brands and finance options we offer. ## Top Selling Brands In the sales results released for August, [Mercedes-Benz](https://www.mercedes-benz.com.au/vans/en "Visit the Mercedes-Benz Official Website") tops the list of leading brands in the light duty van segment based on sales for the year to date. In the second spot is Ford, then Volkswagen followed by Renault and FIAT rounds out the top five. But for September, there was a significant change in the rankings with Mercedes-Benz retaining the lead but the LDV Deliver 9 taking second spot. Based on August figures, all five top-selling brands posted increases YTD based on year-on-year results. Mercedes-Benz is up 21% YOY, Ford up 36.7%, VW 6.8%, Renault 7.5% and FIAT a very impressive 76%. In the current unprecedented production climate, motor vehicle sales results should be considered against the availability and stock supplies in the local market. Consideration should also be given to any new model releases in a period that may skew the statistics. For Mercedes-Benz, the range includes the extremely versatile Sprinter and the smaller Vito. At Ford, buyers have options with variants of the iconic Transit Van. Volkswagen offer three sized options the Crafter, Transporter and Caddy. The Renault van collection includes the Kangoo, Master and Trafic, all currently available with a factory bonus offer. The big increase in FIAT sales has come from the Professional Ducato. With the Deliver 9 showing strong sales, many will be taking more than a second look at this economical offering from LDV. A great selection of makes and models are available in the Australian market with options to suit all types of operations. ## Van Finance Options Selecting the most appropriate finance product and securing the cheapest interest rate on that finance can be key to achieving the optimum productivity and profitability of your new van. A full selection of [commercial finance products](/overview-of-business-car-finance "Explore a Range of Business Financing Solutions") is available to finance new light commercial vans. Finance includes:- - Chattel Mortgage - Leasing - Rent-to-Own - Commercial Hire Purchase Each finance product has tax deductible elements, can be secured at our [better business car loan interest rates](/car-finance-interest-rates "Discover Improved Interest Rates for Corporate Vehicle Loans") and is individually sourced and structured by our expert finance consultants to suit the requirements of our customers. Refer to our Interest Rate Comparison Calculator to compare rates. Business owners are advised to refer to their accountant as to which is the most appropriate facility for their business. ## Sole Trader Finance We fully appreciate that many owners of delivery vans are sole traders. A business structure can have its challenges with meeting the approval criteria of some banks and lenders when sourcing finance. We are accredited with lenders that make finance offers to sole traders at cheap interest rates. Your Jade consultant will handle the entire process including sourcing the most suitable lender, negotiating the lowest interest rate and structuring a finance deal that best meets your requirements. Use our [business car loan calculator](/car-finance-calculator "Utilise a Tool to Estimate Commercial Auto Financing") to work up possible repayments or contact us for a quote. ## New Businesses: Finance Options As a result of the pandemic, individuals have been making major changes around how they work by choice or through necessity. Some are choosing to go out on their own and establish their own business and a delivery service or contract courier may present a viable new business option for many. Great initiative but many find that sourcing finance can be an issue when setting up a new business. Most banks and some non-bank lenders have minimum trading periods as basic criteria for loan application approvals. They also require a range of financial documentation which new businesses simply have not had time to accrue. As a specialist motor vehicle finance lender, we do have accreditation with lenders that offer [low doc car loans](/low-docs-car-loans-for-business-vehicles "Explore No-Doc Auto Financing Options") and no doc car finance. These loans can be achieved at cheap interest rates provided the applicant has a good credit profile and meets other criteria. Speak with us about new business finance and how we can assist you to get your new delivery service underway. **Contact Jade Car Loans at 1300 000 003 for a finance quote on a best-selling light commercial van.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Car road trip time? Motor vehicle loan tips to secure a ‘getaway’ car](https://www.jadecarloans.com.au/blog/car-road-trip-time-motor-vehicle-loan-tips-to-secure-a-getaway-car) **Published:** November 25, 2021 **Author:** Publisher **Content:** Freedom days across the country have millions of Aussies ready for a full-on escape after extended lockdowns. After haircuts, some retail therapy and a schnitty and draught beer at the pub, thoughts are turning to getting away. While international travel is still somewhat restricted, a road trip can be a reality right now! The regions have a wealth of fantastic destinations and the domestic tourism industry is crying out for visitors. You’re ready to pack and go, but how about your vehicle? Is it suitable for the places you have in mind to visit? Time to upgrade to a vehicle that will take you, your mates and family and all your gear on a memorable getaway in comfort. Jade Car Loans covers a range of issues to consider regarding selecting a vehicle, securing a motor vehicle loan quickly and suggestions for where to go on a car road trip in your ‘getaway’ car. ## Vehicle Selection Selecting a vehicle is a very personal decision and will of course depend on where you intend to get away to, the terrain, how many people and how much gear you intend to take, the price and all the other usual buying decisions. If cost is a driving priority the more significant figure to consider may be the finance repayments. To make that a simple process, you can use our [commercial car loan calculator](/car-finance-calculator "Utilise a Calculator for Corporate Vehicle Financing"). Simply enter the price for all the cars you are considering and the calculator automatically calculates repayment estimates. It is free to use and a great buying tool. With petrol prices recently reaching extremely high, even record levels, selecting a fuel-efficient model could present savings in running costs, especially for long road trips. For a classic weekend getaway, a roadster or convertible can offer a unique experience. German manufacturers such as [Audi](https://www.audi.com.au/au/web/en.html "Visit the Official Audi Website"), Mercedes-Benz and BMW are renowned for their range of roadsters. But there are other cheeky models to consider including those from Mini, Fiat and Mazda. Some SUVs such as [Jeep](https://www.jeep.com.au/ "Explore the Jeep Brand's Official Site") also offer a top-down option. The vehicle type does not itself affect the type of finance. Our range of [business car loan products](/overview-of-business-car-finance "Discover a Range of Financing Solutions for Commercial Vehicles") covers all types of cars with the Secured Car Loan the most popular for private vehicle purchases. Business buyers have a wider choice of finance products. The interest rate and any loan terms and conditions are determined primarily by the specifics of the loan applicant, in particular credit profile. However, insurance will be priced in many instances based on the type of vehicle. When taking on finance, lenders require customers to take out comprehensive insurance on the vehicle. If the all-up price is a consideration for you, getting quotes on insurance before purchase could be smart thinking. SUVs are the biggest selling vehicle type on the market and manufacturers continue to expand their ranges with models covering a wide range of sizes and prices. These can be the perfect vehicle for those looking to take sporting and recreational equipment on their getaway. Remember, not all SUVs have 4WD or off-road capabilities. If you plan to head off-road, ensure your vehicle is suited to the terrain. If you intend to tow a boat or caravan, check the towing capacity before purchase. Electric vehicles are finally growing in popularity in Australia. The major issue for those heading away in an EV may be the location of charging stations on route. Latest news has Ampol looking to install EV charging at some of their service stations and there are apps to assist drivers find facilities on their route. ## In a hurry to get away? Get finance fast If the timing of lockdown liftings has caught you off-guard and you’re now scrambling to get that road trip organised, securing your car loan will likely be a high priority. If you want to save time and a lot of hassle (who doesn’t), simply ask us to arrange your car finance for you. [Our loan brokers](/why-jade-car-loans "Meet Our Team of Experienced Loan Brokers") handle the entire loan process from sourcing the initial quote from across our vast range of lenders, through processing your application and on to the final settlement stage. Our services save customers endless time contacting multiple banks and lenders for quotes and going through the same question-answer process over and over again. All time that you can spend checking out cars or deciding on your getaway route and destination. Requesting pre-approved car finance can expedite the car buying process even more. By having your loan secured before heading to the showroom, you will be ready to commit immediately when you make that final decision. ## Where to Go Deciding on your escape route may be more difficult as all states and territories offer destinations and places to suit a wide range of preferences. Nature hunters, foodie lovers, history buffs, luxury lovers, coastal fans and those looking to just chill out. Bookings for many holiday hot spots are filling fast, so we recommend checking your state tourism website for offers and suggestions of where to head:- Victoria [Queensland](https://www.queensland.com/au/en/home) [NSW](https://www.visitnsw.com/) South Australia [Western Australia](https://www.tourism.wa.gov.au/Pages/welcome_to_tourism_western_australia.aspx#/ "Western Australia") Tasmania [Northern Territory](https://northernterritory.com/) [ACT](https://tourism.act.gov.au/) When planning your getaway, stay across COVID restrictions and have a Plan B in mind in the event of sudden changes. **Contact Jade Car Loans at 1300 000 003 to discuss quick car finance to get you started on that much-needed road trip.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Overcoming Ongoing and Emerging New Vehicle Stock Issues](https://www.jadecarloans.com.au/blog/overcoming-ongoing-and-emerging-new-vehicle-stock-issues) **Published:** November 25, 2021 **Author:** Publisher **Content:** One of the big issues in the motor vehicle industry over the past year has been the supply chain which means availability of stock for immediate delivery. The new vehicle stock issues stemmed from the pandemic which slowed production lines in international manufacturing facilities. Then came the global shortage of semiconductors. This has plagued the production of many goods and at this point continues to cause major hold-ups in the supply chain for motor vehicles. Now news has it that a shortage of magnesium is posing a potential risk to supply chains. Australian buyers are used to showing up at a new car showroom, going for a test drive, paying a holding deposit and taking delivery of their new car a few days later. The current stock situation requires buyers to be either patient or rethink the car buying process to overcome the ongoing and emerging new vehicle stock issues. Many dealers and manufacturers are advising buyers of popular models to place an order for and simply join the queue. This can be frustrating as it coincides with a great time to buy a new vehicle. Interest rates are at historic lows and many business owners are looking to not only capitalise on the low interest rates but also take advantage of the tax benefits on offer with [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn More About the Temporary Full Expensing Policy") and IAWO. While we, along with the motor vehicle industry experts, don’t have a clear-cut solution to this dilemma, we can offer some suggestions and direction on how to get behind the wheel of a new vehicle as quickly as possible. ## A Few Suggestions While the supply chain issues are very real, especially for the more popular models, there are cars available in local dealerships. It may just take a bit more time than usual to source and a bit more open-mindedness on the part of the buyer. - Consider a less popular model: If you need or want that new vehicle NOW then give more thought as to why the models available are tagged as ‘less popular’. It could be for quite insignificant reasons such as trends and a great ad campaign. - Do your research: It may take a bit of time but if you want a new vehicle ASAP, you may have to put in the hard yards to find it. Online resources offer a platform to see a wide range of new vehicles in one place and often post articles on what is available right now. Phone around dealerships before heading there in person. - Consider engaging a car buying broker: If you don’t have the time or patience to do the sourcing, consider using a buying service. These professionals have their finger on the pulse of the market and connections and may be extremely helpful. They will often negotiate the purchase price for buyers as well as sourcing vehicles. - Don’t be so particular when it comes to colour: Many makes have a fairly standard set of colours but some do offer a range. The less popular ones sell more slowly and could be waiting to be purchased. - Be open-minded: This is a personal matter but if you usually have your heart and mind set on a particular make and model, possibly try to be more open-minded and consider a wider range of vehicles. You may be surprised with what is available in your price/category range. ## Second-hand Market With supplies of some brand new cars restrained, many appear to be turning to the used car market. The price of used cars has spiked in recent times. Buying used rather than new may allow you to acquire you’re car faster but there are some considerations especially weighing up the pros and cons. While we offer the same range of loan products for used and new vehicles, the loan offer may vary for used vehicles. The age and condition will be taken into account by the lender when making a loan offer. The ‘considerations’ that may be expected may include the lender requesting the borrower to reduce the overall loan amount; offering a shorter repayment period than requested to ensure the amount owed at the end of the term does not exceed the vehicle’s value; and possibly a higher interest rate. Your [Jade consultant](/why-jade-car-loans "Connect with a Professional Jade Consultant") will handle these negotiations with our lenders on your behalf but their worth being aware of. The value of the vehicle at the end of the finance term or when re-selling should be kept in mind. You don’t want to owe more than it’s worth when you come to selling or trading in. Serious consideration of the purchase price and comparing it with market value in previous periods could be worthwhile. Many good quality cars can be found at auctions. Rental car companies and governments regularly turn over their stock and offer their fleet vehicles for sale. These may be basic models in terms of add-on extras and the colours may be a little stock-standard. But usually, the vehicles have been well-maintained and presented in good condition. ## Pre-Approved Car Finance If buying at auction it is highly advisable to have your [no doc car loan](/no-docs-car-loans-for-business-vehicles "Zero Deposit Car Loan") finance secured before attending. Given the current supply situation, pre-approved finance can be highly advisable for all purchases. It allows buyers to commit as soon as they source the vehicle they want that is available and avoid being gazumped by another buyer while they go off to find a loan. We offer pre-approved loans across our complete portfolio of private car loans and business vehicle finance. The same interest rates apply to both pre-approved and post-purchase loans so there is no premium cost for this service. The process is similar to that when you find the car first and then apply for a [low doc car loan](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles"). The application for car finance is made based on an estimate of the loan amount and make/model. The specific details are finalised when the purchase is made. Pre-approved car loans are extremely popular and can be a great assistance for buyers in a competitive buying market. To discuss how we can assist you in expediting your car purchase, have an obligation-free discussion with one of our Jade Car Loans consultants. **Contact Jade Car Loans at 1300 000 003 for a car finance quote and a pre-approved car loan** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Talking Interest Rates: November RBA Rate Decision](https://www.jadecarloans.com.au/blog/talking-interest-rates-november-rba-rate-decision) **Published:** November 26, 2021 **Author:** Publisher **Content:** When seeking motor vehicle finance or any other type of loan, the interest rate is key to achieving the cheapest loan. Buyers focus heavily on the rate and lenders, such as Jade Car Loans, oblige by sharpening their pencils to compete in this highly competitive sector. Over the past 18 months and especially the last 12 months, borrowers have enjoyed the cheapest finance ever. Interest rates across the lending sector have been at historic lows courtesy of the [Reserve Bank of Australia](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") (RBA) cuts to the official rate in response to the pandemic. But how much longer can car buyers expect to be able to access these historically low car loan interest rates? As the saying goes, what goes up must, eventually and in most instances, come down. While we focus continually and permanently on achieving cheaper interest rate car loans, our rates are subject to fluctuations in the official cash rate. In this article, we cover the RBA decision on interest rates made at its November 2021 board meeting and what analysts and experts are predicting for interest rates. ## November 2021 RBA Outcome For many Australians, the first Tuesday in November signifies Melbourne Cup Day. But it was 12 months ago, November 2020, when it became the day for the rate that stopped the nation. While picking the winner of the Cup is tough enough, not many predicted that the RBA would cut the official cash rate on that day. 12 months on and it was not expected that the RBA would lift rates on the first Tuesday of November 2021. And that is what occurred. The cash rate was left on hold at 0.1%. The slight shift in the RBA’s monetary policy direction made at the meeting was the winding back of its bond buying program. In comments published to accompany [the monthly statement](https://www.rba.gov.au/publications/smp/2021/nov/ "RBA holds official monthly statement"), the RBA Governor Philip Lowe noted:- - After an interruption from the Delta outbreak, the domestic economy was again and solid gains in GDP were expected in the December quarter. - Unemployment is expected to post a lowering trend over the coming years with the scenario expecting 4.25% by the end of 2022 and 4% by the end of 2023. - Inflation at 2.1% remains low. Expectations are for a gradual increase to 2.25% in 2022 and 2.5% in 2023. The surge in inflation experienced in some countries is not expected in Australia. Mr Lowe stressed that the ‘forward guidance’ by the RBA is based on the state of the economy and not based on the calendar. The focus is on returning to a position of sustainable inflation in the 2-3% range and working towards full employment. He went on to say that the comments and decisions were not a promise that the official rate would not be changed on a particular date. However, the best expectation of any timing for a change in the rate was provided with each statement. The next meeting of the RBA Board is scheduled for the first Tuesday in December. ## Forecasts, Predictions and Impacts Impacts on the official cash rate are wage growth, inflation and unemployment. Wages growth has been subdued for some time and the RBA has forecast this to continue for some time. But as one analyst pointed out recently, public sector wages in some jurisdictions have been frozen due to the coronavirus pandemic. This may be having a significant effect on subduing wage growth in general. Many industry sectors especially hospitality and retail are struggling to fill job vacancies. The primary cause of this is seen as the closure of international borders which has stopped international students and backpackers from coming into Australia. Some businesses are offering extremely enticing packages including lucrative sign-on bonuses to attract quality staff. This labour shortage may have the potential to push wages up as employers compete for the limited numbers available to fill the roles. The RBA expects wages growth to pick up, gradually, in line with the tightening in the labour market. While the RBA has for some time and continues to talk about 2024 for an increase in the official cash rate, many economic and financial experts are predicting an earlier increase. Some say even late 2022 if not 2023. These longer range forecasts tend to be significant for the home lending rather than the motor vehicle lending sector. Home mortgages extend over much longer loan terms than car loans and tend to include options for a fixed and a variable component. ## Comparing Car Loan Interest Rates When comparing [business car loan interest rates](/car-finance-interest-rates "Competitive Business Vehicle Finance Rates at Jade Car Loans"), firstly note that business and consumer rates are different. Business vehicle finance interest rates vary across the different types of loans – [sole trader car loans](/car-chattel-mortgage "Car Chattel Mortgage") and Commercial Hire Purchase being traditionally lower than Vehicle Leasing. Business vehicle loan interest rates are always higher than business rates. Under consumer law, lenders are required to display both an Advertised Rate and a Comparison Rate. Advertised interest rates usually refer to new cars unless a used car rate is specifically noted. Jade Car Loans can achieve better interest rates on both new and used vehicles, subject to individual lenders and applications. To assist those looking to compare rates across the market, we have provided Interest Rate Comparison Calculators. ## Achieving the Lowest Vehicle Finance Rate Fixed interest rate car finance as offered through Jade Car Loans, ensures buyers can have today’s cheapest rate for the complete term of their motor vehicle loan. Getting in now can ensure you are protected from any rate rises over the 5, 6, or 7 years, whatever loan term you choose. A key element of being offered the cheapest car loan interest rate is the loan application. Lenders will conduct a risk assessment of the applicant based on their guidelines. Ensure your credit profile is in good standing by fixing any errors before applying for a loan as a starting point. Engaging the services of our expert lending consultants can significantly assist buyers in achieving the cheapest car loan interest rates. We have the buying power, track record, widespread lender accreditations and negotiating skills to deliver better interest rates across our portfolio. **Contact Jade Car Loans at 1300 000 003 to discuss cheap interest rate car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Getting Lower Car Loan Repayments](https://www.jadecarloans.com.au/blog/getting-lower-car-loan-repayments) **Published:** November 26, 2021 **Author:** Publisher **Content:** When seeking to buy a new car most buyers will have a price range that they are targeting. This may be based on need, budget or personal choice. However, assessing the affordability of a vehicle based solely on the dealer’s price tag may be misreading the situation. Unless of course, you are a cash buyer. If, like many car buyers, you intend to purchase the vehicle with finance, then the more relevant figure to consider may be the monthly loan repayment on the car loan. The monthly payment is the amount that will impact your household budget or business cash flow and for many buyers is the key to vehicle affordability. Jade Car Loans shares our expertise to outline what buyers should be considering when seeking lower car loan repayments. ## The Rate Effect Car loans have several cost components. Lenders will include their fees which can vary across the lender market. But the most significant ‘cost’ will be the interest charged on the loan. Lenders will charge interest on the loan over the loan term based on the interest rate applicable to the type of loan. Lenders calculate their rates with several inputs including the official cash rate as set by the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia"), their interest in being competitive in a certain lending market such as motor vehicles and their business costs and costs of acquiring their funds to lend. The motor vehicle lending market is highly competitive with many banks, non-bank lenders, car dealers and broker-lenders such as Jade Car Loans actively vying for business. Comparing interest rates across the market can be confusing so we have provided [business car repayment calculators](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") to assist our customers. Note that interest rates on consumer goods are always higher than interest rates for business goods. So make sure you are looking at the appropriate rate. Most lenders will advertise interest rates for new cars unless they specify differently. With [business vehicle finance](/business-car-finance "Commercial car loan"), the interest rates vary for Chattel Mortgage, Leasing and Commercial Hire Purchase. Businesses typically assess the other features and benefits of each loan type rather than making a product decision based purely on the interest rate. Jade Car Loans provides both personal and business vehicle finance at fixed interest rates. This means that once a finance deal is agreed and finalised, the monthly repayment will stay the same at that interest rate over the full term of the loan. ## Setting Terms The total interest payable on a car loan is calculated over time. The ‘time’ is the term of the loan, the number of months of repayments. Jade Car Loans offers terms of up to 7 years for car finance subject to lender guidelines and other approvals. - The longer the car loan term, the lower the monthly repayments but the more interest payable over the complete loan term. - The shorter the finance term, the higher the monthly repayments will be but less total interest will be payable. Before embarking on sourcing a car loan, buyers are advised to have a target monthly repayment in mind to discuss with their lender. Arriving at this figure may require reviewing the household or individual budget regarding regular recurring expenses or the business cash flow moving forward. The repayments will be in place for the full term of the loan, so looking ahead regarding money management is important. Are you anticipating receiving a pay/income increase over that time? Additional payments can be made with our [Secured Car Loans](/secured-car-loans). This means if you do come into extra income, you can make extra payments in addition to the scheduled monthly payments. This would shorten the term and reduce the total interest payable. Break fees may be applicable if this occurs. ## Business Vehicle ‘Balloon’ Factor Business buyers have the extra option of including a ‘balloon’ component in the finance deal which can be used effectively to reduce the monthly repayments. This is a portion of the loan amount that is set aside for payment at the end of the loan term. A good tip is to be mindful of not having a balloon that exceeds the value of the vehicle at that time. If trading in or reselling a vehicle, you may not get sufficient to repay the balloon. Lenders do have guidelines around the percentage of balloons that they will permit. Your Jade consultant will negotiate on your behalf with our lenders to secure the preferred balloon that delivers the desired repayment amount. ## Using a Car Loan Calculator To see how interest rates and loan terms work together to determine the monthly repayments, simply use our Car Loan Calculator. By varying either or both components, you can immediately see how the repayment estimate changes. Be mindful that not all fees will be included and any offer made to you may vary. You can also see how if you change the loan amount, the repayment changes. This brings into consideration the possibility of paying an upfront cash deposit to reduce the amount you are borrowing. This too would reduce the repayments. ## Securing a ‘Goldilocks’ Repayment Some repayments are too high, some too low. So buyers are seeking the ‘Goldilocks’ level, the one that is just right. When considering [business car loan rates](/car-finance-interest-rates "Competitive Rates for Business Car Financing"), this may require negotiating with the bank or lender, a process that can be tricky for borrowers to approach on their own. Lenders do have guidelines that they apply to loan applications, some of which are very strict. Some may be set by their organisation and some are set in law. Under Australian Consumer Law, licensed credit providers such as Jade, banks and other lenders, must abide by certain regulations. Using a broker such as Jade Car Loans can be of great assistance to achieve the car loan repayment that suits your budget or your business cash flow. We utilise our negotiating power with our large lender base to secure the best outcome for our customers. So when starting on a car buying journey, keep our loan calculator handy on your phone so you can quickly convert the selling price to those more relatable loan repayments. **Contact Jade Car Loans at 1300 000 003 to discuss achieving your target car loan repayment deal.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Ford v Toyota: Latest Motor Vehicle Sales Figures](https://www.jadecarloans.com.au/blog/ford-v-toyota-latest-motor-vehicle-sales-figures) **Published:** November 26, 2021 **Author:** Publisher **Content:** On the Australian V8 and Supercars race circuit it was always the Ford versus Holden rivalry. But in the car sales race it is now all about Ford versus Toyota in the competition for the top-selling vehicle each month. The [latest motor vehicle sales figures](https://www.fcai.com.au/news/index/view/news/739 "Access the Most Recent Statistics on Automotive Sales") for October 2021 reveal the blue oval’s extremely popular Ranger has knocked the iconic Toyota HiLux from the top podium spot for another month. For close watchers of the motor vehicle sales results, as the end of year approaches, the competition is hotting up to see which model will end the year in overall top position. For those looking to buy a new vehicle, reviewing the current sales figures can provide some insight into what to buy. Jade Car Loans stays across the data to bring you regular updates on the top-selling car makes and models and latest motor vehicle sales figures as well as on the loans available to capture a top seller for yourself. But before drawing definitive conclusions from the past 2 months’ sales figures, key issues currently impacting the motor vehicle market overall should be considered. In particular the effects of the pandemic, extensive lockdowns in Victoria and NSW and the global manufacturing and supply problems including associated with international shipping. In general, the sales figures for October 2021 for new vehicles were down 8.1% on the same month in 2020. As noted by the Chief Executive of the [FCAI](https://www.fcai.com.au/ "Visit the Official FCAI Website"), Tony Weber, manufacturers are facing challenges regarding supply as a result of the shortage of microprocessors. This situation is resulting in longer delivery times and could be a signal to buyers to place orders as a matter of priority. With some state and territory Governments offering incentives for electric vehicle buyers, EV sales continue on an upward trajectory. ## Top Selling Makes and Models The monthly car sales figures are released for both individual models and make. Sales of the Ford Ranger were impressive in tipping the Toyota HiLux from the top spot, but Ford slipped to fourth among the top-selling makers. Top-selling models for October 2021: The Ford Ranger just edged out Toyota HiLux by 179 units. Third place went to another Toyota, the LandCruiser followed by yet another Toyota, the Corolla with the Hyundai i30 in fifth spot. Rounding out the top 10 in order – Isuzu D-MAX, Toyota RAV4, Hyundai Tucson, Mitsubishi ASX and the Nissan X-Trail. The SUV/ute category continues to be the most popular vehicle type, continuing the trend that has been building over recent years. The versatility and functionality especially the work-to-weekend adaptability make this vehicle popular with both private and business buyers. The pandemic border issues are making intrastate road trips extremely appealing and the 4WDs and SUVs can be ideal for this type of travel and holidays. With so many models in the top 10 list, it probably is no surprise to see Toyota dominating the top-selling brand’s leaderboard yet again. The brand sales results are based on YTD (year-to-date) results as different from the model results which are for the month. Top 10 motor vehicle brands based on YTD sales: Toyota, Mazda, Hyundai, Ford, Kia, Mitsubishi, Volkswagen, Nissan, MG and Subaru. Reviewing the top-selling brands may give buyers a clue about the availability of some makes and models. The sales figures are vehicles delivered – key! With talk of long wait lists for some vehicles, when heading out to buy a new car, the key question to ask the dealer might be ‘What is available for immediate delivery?’ Buyers may have their eye on a top seller but some may have to compromise on their choice as a trade-off for taking delivery right now. Taking advantage of our Jade Car Loans pre-approved finance, buyers can be ready to order immediately and possibly expedite delivery. ## Motor Vehicle Finance Update The Ranger vs. HiLux rivalry will likely be of most interest to business vehicle buyers as will the cheap interest rate finance and tax benefits currently available for business vehicle loans. [Temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Explore the Current Temporary Full Expensing Policy") is still on the table for eligible businesses and eligible assets and interest rates for now are still at historic lows. The RBA has kept the cash rate steady for some time, but for how long is a big conversation in some analyst circles. Refer to our Interest Rate Comparison for either private car loans or business vehicle finance to calculate repayment estimates on the different vehicles on your shortlist. If you anticipate the stock of your preferred vehicle may be in short supply, speak with us about pre-approved finance so you don’t waste time and risk FOMO when visiting the dealership. Pre-approved car loans are available at our low interest rates, across our complete motor vehicle loan portfolio:- - [Secured Car Loans](/secured-car-loans "Unlock Auto Financing with Collateral-Backed Loans") for private buyers. For business buyers: - [Car loans for sole traders](/car-chattel-mortgage "Tailored Vehicle Financing for Independent Entrepreneurs") - [Business Car Leasing](/car-lease "Lease a Commercial Car") - Commercial Hire Purchase Business owners should consult with their accountants on the choice of vehicle finance products. Our quick quotes and fast application approvals ensure our customers a streamlined and prompt service to secure car finance. **Contact Jade Car Loans on 1300 000 003 to discuss finance on a top-selling vehicle for private or business use.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [First Car? First Car Loan? Tips and hints for the best finance deal](https://www.jadecarloans.com.au/blog/first-car-first-car-loan-tips-and-hints-for-the-best-finance-deal) **Published:** November 26, 2021 **Author:** Publisher **Content:** There is always a ‘first’ for all car buyers. Most car owners will still fondly remember their first car especially the first one they purchased themselves. For some, this is a rite of passage in life. For business owners, buying the first work vehicle is a big step in building a new business. For first and subsequent car purchases, most buyers will require finance. For many first-time buyers, it will mean a first car loan. Applying for a first car loan can be both an exciting and an overwhelming prospect. But the loan sourcing and securing procedure doesn’t have to be a challenge and any resultant loan offer made can be extremely competitively priced when a full understanding of what is involved is realised. Whether it is your first purchase as a private buyer or your first purchase as a new business, Jade Car Loans has a range of [business car finance products](/overview-of-business-car-finance "Explore a Variety of Financing Options for Corporate Vehicles") to suit and a lender service to assist all buyers. The type of finance differs for personal cars and business vehicles and the process and loan types can vary for those applying for their first car loan. We provide this explainer to assist those embarking on purchasing their first car and/or applying for their first car loan. ## Private ‘First Loan First Car’ Buyers A first car may be the first car in your name. Possibly previously you have ‘had’ a car or use of a vehicle but it was purchased in the name of a partner, family member, employer or a business entity. So in the records, so to speak, you would not have had a car loan in your name. Before applying for a first car loan, it is important to appreciate that consumer finance involves strict steps and processes that are set out under [Consumer Law](https://asic.gov.au/for-consumers/loans-and-credit-cards/ "Learn About Regulations Under Consumer Legislation"). As a Licensed Credit Provider, Jade Car Loans adheres to the Responsible Lender Guidelines. Under the law, consumer loan applicants must be over 18 years of age but holding a driver’s licence is not an essential criterion of the application. New younger drivers (under 18) wanting to purchase their first car may have to [consider a guarantor](https://moneysmart.gov.au/loans/going-guarantor-on-a-loan "Exploring the Option of a Co-signer"). Speak with us about how this works and how we can assist in arranging this for you. When applying for any type of consumer loan whether the first or one of many, the lender will review the applicant’s credit profile. While this may be the first car loan application, most people will have a credit profile. Most people will have some form of credit account from a relatively early age. Even if they haven’t applied for a loan, chances are they have held some form of credit. Credit may include agreements and other contracts entered into for the supply of services. Even for young people, these may include a mobile phone, streaming service or internet provider account, a credit card, BNPL (buy now pay later) account or a residential rental agreement. All these types of financial arrangements will be recorded on an individual’s credit profile by the lender. Credit applications, even if not followed through with, will be recorded by the lender on the credit profile. These details along with payment history are recorded. Before applying for a car loan, individuals can check their credit report to see their credit score and history. To find out more about credit profiles and how to get your credit report refer to the Government [MoneySmart](https://moneysmart.gov.au/) website. First loan applicants may find dealing with the car finance market a daunting experience. This is one of the largest lending sectors with many banks, non-bank lenders and sellers actively competing for their part of the business. First loan applicants may face hurdles if they do not have a good and extensive credit history. Using our services can assist in overcoming the confusion. Our broker style services are available to both individuals and businesses, even those that have never applied for a loan previously. We handle sourcing the cheapest quote from across our vast lender panel, negotiating with the lenders to secure the best interest rates and loan terms, assisting with the application, arranging application approval and finalising the settlement with the seller. Good quality applicants will need proof of income as the ability to repay the loan and a good credit profile to achieve the cheapest loan offer. Our consultants work with customers to tailor the loan to suit their requirements. This may include varying the loan term or the amount requested to achieve the preferred loan repayment level. [Refer to our articles](/blog "Explore Blog") on how to achieve a workable repayment amount and to our [business car loan calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") to see how varying the loan elements changes the repayments. Note that cars purchased under finance do require comprehensive insurance. So factoring that expense into the equation can be a good idea. ## New Business Buyers If embarking on a first vehicle purchase as a new business, operators may need to consider [low docs car loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles"), No Docs and [ABN car loan options](/abn-car-loan "ABN Car Loans: Get Financing for Your Business Vehicle"). We specialise in this type of business finance which is not always available through all lenders. Low Docs and No Docs car loans are for businesses that do not have all the criteria or financial records to meet the eligibility guidelines of some lenders. This may include not trading for the designated period. Refer to our web pages for the features and details of these loan types. When engaging Jade to source Low Docs Car Finance, a cheap interest rate loan with workable and cost-effective repayments can be a definite reality. To ensure your first car- first car loan is a favourable and memorable experience, contact Jade Car Loans to discuss your requirements and individual situation. **Contact Jade Car Loans on 1300 000 003 to discuss a ‘first’ car loan** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Achieving a Workable Car Finance Term](https://www.jadecarloans.com.au/blog/achieving-a-workable-car-finance-term) **Published:** November 27, 2021 **Author:** Publisher **Content:** When seeking car finance there are many aspects of the loan for buyers to consider and make decisions around. The lender, the type of loan for business buyers, sourcing the cheapest interest rate car loan, what the repayments will be and the car finance term. All these factors can interact with each other to impact the overall structure and cost of the motor vehicle finance deal. Focussing on one element only may be overlooking how that impacts another. In this buying tips article, Jade Car Loans explains what buyers should consider to achieve a workable car finance term when sourcing a motor vehicle loan. ## Car Loan Terms: General Info The term of a loan is the number of years the borrower has to repay the loan. Some lenders represent loan terms in years and others in months. While the longer one may have to repay a loan the better that may not necessarily deliver the best outcome overall. Loan applicants can request the car loan term that they would prefer but the lender will have a say as to what term they will approve. Lenders would consider the request term regarding the repayment it generates and the applicant’s ability to repay that amount as part of their risk assessment. They would also consider the age and condition of the vehicle in the case of used cars. Jade Car Loans offers ‘up to 7 years on car loans, but all loans are subject to individual application assessments and of course lender approval. As we are accredited with a vast number and range of banks and lenders, our consultants can quickly match our customers with the lender that will best suit their requirements. Factors for buyers to consider in pursuit of the ideal car loan term would include: - Age and value of the vehicle: both lender and borrower would not typically want the value of the vehicle to exceed the loan amount owed in the later stages of a long term loan. Using a car valuation resource such as the Red Book may assist in estimating a vehicle’s value. - Anticipated re-sale timeframe: Break fees apply to ending a loan term early. So if the buyer plans to sell/trade the car in the short term and avoid break fees, matching the loan term with the resale timing would be advisable. - The monthly repayments that the term results in: In general, the shorter the loan term the larger the monthly repayments and the longer the loan term the lower the repayments. If keeping repayments within a target range is the priority, then the term could be negotiated to best suit. - The interest rate: [Commercial car loan interest rates](/car-finance-interest-rates "Business Vehicle Loan Rates: Competitive Financing Options") are referenced on a per annum base. So it would follow that the longer the funds are borrowed the greater the total interest payable. So sourcing the cheapest interest rate is always important. The [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") sets the official cash rate which lenders use as a basis from which to set their lending rates which vary across the market. - The loan term agreed to by lenders on new and used cars can differ: this refers to the initial point in this list – the age and condition of the vehicle and the projected value of the vehicle at the end of the loan term. ## Business Vehicle Finance Terms Business operators seeking finance for vehicles to use in their business are usually seeking cost-effective finance. This can mean achieving the ideal finance term that delivers a repayment amount that works with the cash flow. [Business finance products](/business-car-finance "commercial car finance") include the option for a balloon or residual. This is a percentage of the original loan amount which is set aside for payment at the end of the finance term. It is due in full after the last monthly repayment is finalised. Varying both the balloon and the term can change the repayment amount. Use our [Business car finance calculator](/car-finance-calculator "Utilise a Tool to Calculate Corporate Vehicle Financing") to see exactly how these variations would work with your intended purchase. A larger balloon results in lower monthly repayments and vice versa when the term is unchanged. But by varying the loan term and setting the balloon at a lower percentage may also deliver an attractive outcome. As mentioned above, we can achieve up to 7 year terms for new business vehicle purchases and depending on the usage and wear and tear on the vehicle, this may be an attractive option for your purchase. ## Personal Car Loan Terms Requesting a longer term for a Personal Secured Car Loan can make more expensive cars more affordable. A longer term reduces the monthly car loan repayments. However, lenders will be assessing each application regarding the ability of the applicant to repay the loan. Issues to keep in mind are particularly how much the car will be worth in that many years (the loan term requested) ahead. This will depend on depreciation forecasts. As mentioned earlier in this piece, if you plan to change cars in say 4 years, then requesting a loan term of 6-7 years may cost you in break fees. If reselling at say the 4 year mark of a 6 year car loan would entail ending the loan term early break fees could apply. In this example, if you plan to upgrade your car in 4 years, then by requesting a 4 year loan term the cost of break fees and any other payout costs could be averted. ## Achieving that Optimum Loan Term From the points raised in this article, car buyers should better appreciate and understand the factors involved in car finance and the outcomes that result in different loan terms. There may be a lot of information to consider but Jade Car Loans can assist with the details. Our Jade consultants handle the finance process for our customers and negotiate with our lenders to achieve the ideal outcome that meets the approval of both the lender and the borrower. Before applying for a car loan, use our car loan calculators to get an idea of the loan term that would deliver the optimum motor vehicle finance for your requirements. **Contact Jade Car Loans on 1300 000 003 to discuss achieving your preferred car loan term** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Refinancing Car Loan Residual](https://www.jadecarloans.com.au/blog/refinancing-car-loan-residual) **Published:** November 27, 2021 **Author:** Publisher **Content:** Business vehicle finance products include the option for a residual or balloon. These terms are essentially similar in concept but relate to different finance products. Regarding the two most popular forms of business vehicle finance – for Leasing the term used is the residual and for Chattel Mortgage, the term is a balloon. For purposes of simplicity, we will refer to it as a residual in this piece. The residual is the percentage of the original amount of the loan which is due for payment in full when the finance term is finalised. That is when all the monthly payments have been made. So what happens when the residual is due? If the car buyer opted for a large residual or balloon when the original finance contract was established, the total due may be a significant amount. At this point, or some time before the end of the finance term, business owners need to decide how they are going to pay out the residual and take ownership of the vehicle. Refinancing is a very widely used method to pay out the residual on a motor vehicle finance contract. Jade Car Loans outlines the process involved and the loan options available for refinancing car loan residual payments with cheap interest rate motor vehicle finance. ## Role of the Residual As mentioned above, the residual is a part of the loan amount which is due to be paid out at the end of the loan term. A residual can be referred to as a percentage of the loan or as a set dollar amount. As we offer no deposit finance, the residual may be a percentage of the actual purchase price of the vehicle. The role of the residual is essentially to reduce the monthly finance repayments and hence make vehicles more affordable. When negotiating a new motor vehicle finance deal, business operators are typically seeking a residual amount that will give them a workable and cost-effective monthly repayment amount. The amount of the residual affects the amount of the repayments. The larger the residual the lower the repayments and the smaller the residual the higher the repayments over the same finance term. Refer to our [business car finance calculator](/car-finance-calculator "Calculate Financing for Corporate Vehicles with our Calculator") to see how this works and could work for your vehicle finance. Interest does apply to the residual and referring to [ATO](https://www.ato.gov.au/ "Visit the Australian Taxation Office (ATO) Website") rulings around residuals is advisable also the impact on fringe benefits tax. Lenders may also have guidelines around the amount of a residual that they will approve. So the borrower does not always get their way on this point. As there are accounting issues involved, business owners are advised to consult with their accountants on the structure of new motor vehicle finance. When all the monthly vehicle payments are finalised, the residual is due to be paid in full. ## Refinancing Options Many business owners will opt to refinance the residual or balloon rather than use existing funds to pay out the amount. With lending interest rates currently at very low levels due to the ATO keeping the cash rate steady at 0.1% for an extended period, this can be a very savvy decision. When selecting to source a [business car refinancing](/car-refinancing "Explore Options for Refinancing Your Corporate Vehicle") deal, our customers are assigned their own Jade consultant to source, negotiate and structure the finance deal to best meet the customer’s requirements. Refinancing involves securing a new finance contract on the vehicle and as such the process follows the usual steps associated with sourcing car finance. While we’re referring to this process as ‘refinancing’ the residual, specifically the process involves sourcing and securing a new finance contract for the amount of the residual. It is worth noting that even if the vehicle was originally purchased as new goods, as it is now so many years old, the vehicle would be considered as used goods in the refinancing contract. This may affect the interest rate offered as rates may vary with new and used goods. The refinancing can be with the same or different lender from the original vehicle finance arrangement. Borrowers will need to contact their lender to get an exact figure for the residual pay which could then be the loan amount for the refinance deal. Refinancing can be sought with the same or different finance product from the original contract. The [business motor vehicle loan](/overview-of-business-car-finance "Discover Financing Solutions for Corporate Auto Loans") products available for refinancing a residual are:- - Chattel Mortgage - Leasing - Commercial Hire Purchase The features and benefits of the finance product apply to initial loans and refinancing. However, based on our understanding of the ATO rulings, refinancing an existing asset does not appear to be eligible for[ temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Explore the Current Full Expensing Policy"). Other tax arrangements about each finance product regarding the tax deductibility of repayments for leasing and depreciation of the asset as a tax deduction with Chattel Mortgage would apply. Referring to the business accountant or financial advisor as to which finance product is most suitable for an individual business is highly recommended. A balloon/residual can be included in the refinanced deal. The interest rates vary across the finance product selection and those considering refinancing can receive estimated repayments by using our Compare Interest Rates calculator. While Jade Car Loans responds swiftly to finance quotes and processing applications, business owners can be wise to not leave it until the last minute to consider their options for paying out a residual. **Contact Jade Car Loans on 1300 000 003 to discuss refinancing a motor vehicle residual.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Demand Pushing Used Car Prices. Impact on Used Car Loans](https://www.jadecarloans.com.au/blog/demand-pushing-used-car-prices-impact-on-used-car-loans) **Published:** November 30, 2021 **Author:** Publisher **Content:** Multiple issues in the global supply chain have seriously impacted the new car market in Australia. With the limited stock of new cars pushing used car prices, Jade Car Loans explains the impact of used car loans and what to watch when buying. Australians have long enjoyed a vast selection of makes and models in the new car and work vehicle market. But with local vehicle manufacturing all but gone, Australians now rely almost solely on imported cars. This makes the market and stock of new vehicles, subject to the manufacturing and other conditions in the countries of manufacture. Over the past year plus, the pandemic and the shortage of computer chips have seriously impacted the production of new cars globally. Many local dealers are still trying to meet back orders and now shipping issues are emerging as another threat. Some experts are predicting global supply chain issues to continue to impact Australian markets for some goods into 2023. With buyers unable to secure their choice of new vehicles, they are looking to the used car market. The fall-out – demand is strong and that is pushing up the prices of many used cars. The situation has been highlighted in mainstream media in numerous news stories. The decision for some will be should you wait until your car of choice is available or should you buy what you can from the second hand market? The decision may be influenced by car finance. ## New v Used Debate While the used v new is a conversation that will long be debated or argued, at pubs, dinner tables and workplace common rooms, the current stock situation brings the reality into stark focus. There is usually a generous supply of used vehicles on the market and many can be late models and in very good condition. Some say buying used is buying someone else’s problems while others see klms on the clock as the engine being run-in and ready. Current production methods with safety and tech features are arguably built to last a lot longer than some of the clunkers of past eras. Browsing the online motor vehicle marketplaces provides a general idea of pricing of new and used cars in one place. This site can be a good point of reference and a great starting point for buyers. They can also indicate what new vehicles are available. There have been reports of some used vehicles priced at only marginally below the price for the latest new model of that vehicle. But if the new version is not currently available???? There are a lot of personal decisions to be made in the space. ## Used Car Buying Alerts With the growth in online selling channels has come a surge in frauds and scams. If buying a used car either via an online platform there are several basic guidelines that buyers should adhere to. Before doing anything, refer to the ACCC [ScamWatch](https://www.scamwatch.gov.au/ "Access the ScamWatch Information Portal") site for information on the current scams and frauds that have been detected. Here are a few basics to consider and they may vary in significance depending on whether you are buying from a private seller or an [authorised motor vehicle dealer](https://ablis.business.gov.au/service/nsw/motor-dealers-licence-motor-vehicle-recyclers-licence/16719 "Visit an Accredited Automobile Dealership"): - Don’t buy without an inspection. It isn’t worth it not to get a full vehicle inspection from a professional auto mechanic or through one of the motoring associations. - Don’t part with money before fully checking out the vehicle and the seller’s credentials. Ensure the vehicle exists and passes all verifications. Online selling is full of examples of people parting with hard-earned, goods sight unseen, only to find the goods don’t even exist and they’ve done their cash. - Check REVS or other official registers to confirm the rego and official owner and ensure that matches the seller. - Check the [PPSR](https://www.ppsr.gov.au/) to ensure the vehicle is not under finance. - When taking delivery, ensure the vehicle is as you originally inspected and that accessories and components such as tyres have not been altered since your viewing. - Try to assess upcoming maintenance and servicing requirements for that particular vehicle to gauge what repair costs you could be up for shortly. Ask for service books and try to verify their authenticity. - Are all parts including any replacements, genuine manufacturer’s parts? Has work been carried out by authorised motor mechanics and repairers? - Check the credentials of the seller through whatever channels are available. Authorised and licensed car dealers can be checked through their auto association or consumer affairs/fair trading department in your state. - This can be particularly important, especially for relatively late model vehicles. Check what is and is not still covered. - Consumer laws do protect buyers. These may vary for private sellers and authorised dealers. Check what protections you are afforded in your state. When engaging Jade Car Loans as your used car loan provider, our consultants can assist with many of the verifications and checks around the vehicle rego PPSR and seller ID. ## Loan Differences We offer both new car finance and loans for used vehicles, both private and business at our cheap interest rate policy. While loan applications are assessed primarily on the risk assessment of the applicant, lenders will take into account the age and condition of the vehicle when making a loan offer. - No deposit finance is available on new vehicles but some lenders may not approve this for used vehicles. - The [commercial vehicle interest rates](/car-finance-interest-rates "Explore Financing Rates for Business Vehicles") advertised by lenders will be for new goods unless otherwise specified. - Many used car dealers also offer finance and often promote their finance offers strongly. Often at a ‘$xx per week’ rate. Look closely and compare with our cheap rates. - If considering dealer finance, watch for hidden fees or commissions that they may be receiving from their finance provider. Consumers refer to the Comparison Rate and read the contract closely before committing. - Quick quotes and fast approvals are available for both, so don’t feel you need to rush to sign up to another finance before speaking with us. Use our interest rate comparison and finance calculators to compare other offers with what we may be able to achieve for you ## Applying for a Used Car Loan So what can buyers expect when applying for a used car loan? When working with us, a cheaper interest rate for starters. But individual lenders may apply conditions:- - A different interest rate from that advertised for new goods, but cheap rates are still achievable. - What to watch out for is the difference or discrepancy between the price tag and the value. With used car prices soaring, the price may exceed the book value of the vehicle. Lenders will know the value and may not be willing to include the full purchase price in the loan. They may request the loan amount be reduced by a deposit be paid. Your Jade consultant will be negotiating hard to achieve the best outcome and adhere to the Responsible Lending Guidelines. - Keep an eye on the possible end-of-finance differential between value and purchase price when opting for a balloon in business vehicle finance. ## Pre-Approved Loans Buyers don’t want to miss out on these cars in such high demand. So securing your loan before heading out to inspect vehicles can assist. You can be in a position to commit to the sale IF you are totally happy with the offer and the vehicle. Working with a Licensed Credit Provider such as Jade Car Loans provides used car buyers with access to a vast range of lenders and our commitment to achieving the cheapest used car loan interest rates and conditions possible. **Contact Jade Car Loans on 1300 000 003 for a quote on a used car loan** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Better Ute Finance Deals for the Best Ute in the World!](https://www.jadecarloans.com.au/blog/better-ute-finance-deals-for-the-best-ute-in-the-world) **Published:** November 30, 2021 **Author:** Publisher **Content:** For those who demand ‘the best’ the jury is out, the decision has been made – the [Toyota HiLux](https://www.toyota.com.au/hilux), Australia’s favourite workhorse has been named the Best Ute in the World. To HiLux owners over the decades this won’t come as any great lightbulb moment. But for buyers looking at purchasing a new ute, it could be an influencing factor in the purchase decision. But with all new vehicle acquisitions, not only does the vehicle and the price need to be right, so does the finance deal. Jade Car Loans outlines how buyers can achieve better ute finance deals for the best ute in the world, the Toyota HiLux. Best in a massively impressive marketplace is a big call. The Ford Ranger actually tipped HiLux off the top selling ute leader board in one month of sales figures recently. And the BT 50, D-MAX, Walkinshaw VW Amarok, Navara and Wildtrak are presenting very strong challenges to the iconic HiLux. In the price stakes, the LDV brand is making inroads in the Aussie market. We cover off on why HiLux was judged the best and how you can acquire this or any other great ute with better interest rate finance. ## Judging Best Ute HiLux received the nod at the Pick-Up Awards, an international awards program which is included in the [International Van of the Year Awards](https://van-of-the-year.com/ "Learn More About the Winners of the International Van of the Year Awards"). The final three contenders were Hilux, Gladiator and the Isuzu D-MAX. All three were subjected to arduous testing by the judges. The key criteria is that the winner is judged as the most efficient 1 tonne ute (or pick-up in international-speak) currently available on the market. The category has been included for some time with this the 6th award. A first for Toyota as the previous winners were the Amarok, Navara and the Ranger. For those wondering which make/model won the Van of the Year category – it was a tie with the Mercedes-Benz Citan and the Renault Kangoo share joint honours. No doubt the decision will spark plenty of heated discussions with owners of all the leading utes on the market. But for business buyers that are seeking a cost-effective vehicle to deliver improved productivity and profitability, their ‘best ute’ is likely to be the ute they can acquire with the best finance deal. That is the next item on our agenda. ## Finance for Toyota HiLux As one of Australia’s most hard-working utes and the with the wide range of model variants, the HiLux is suitable for work in a wide range of industries and business settings. Whether it’s on the farm, on the construction site, delivering goods across urban areas or doing double-duty for weekend rec and sport activities, the HiLux offers a highly attractive buy. Jade Car Loans provides cost-effective finance for the HiLux and other utes, with buyers given the choice of several [best business car loan](/business-car-finance "car loan for business") products: - Chattel Mortgage: the most popular choice of finance as it suits many businesses that use the cash accounting method. This finance attracts the lowest interest rate across the range and is best suited to those looking to use the [temporary full expensing measure](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Explore Details About the Temporary Full Expensing Initiative"). This measure allows for the full cost of the vehicle to be realised as a tax deduction in the year of acquisition rather than incrementally over several years. - Leasing: suitable for businesses that use the accruals accounting method and do not wish to have the vehicle posted to their business balance sheet. Known as an ‘off-balance sheet’ loan, the vehicle remains under the ownership of the lender until the loan is finalised. - Commercial Hire Purchase: shares many features of Chattel Mortgage with some variants which have similarities with Leasing. Not as popular as Chattel Mortgage in recent times. - Novated Leasing with Salary Sacrifice: useful finance product where business owner and employee agree to the business paying for a vehicle and the employee sacrifices salary to cover the costs. As the HiLux is equally suited to work and play, it may present the ideal vehicle for this type of arrangements. It is strongly recommended to get the business accountant involved in the decision as to which finance product is best suited to an individual business set-up. ## General Finance Features While each finance product has its own features and benefits, there are a number of features which are standard across our portfolio: - No deposit finance is available which allows for the entire purchase price to be included in the loan. - Balloon/residual option included which can be structured to achieve target and workable repayments to support ash flow. - Buyer has immediate access and use of the vehicle and is responsible for all ongoing costs while the ownership over the finance term varies. - [Cheap business car interest rates](/car-finance-interest-rates "Discover Affordable Commercial Auto Loan Rates") in line with Jade’s ongoing and consistent approach to motor vehicle finance. - Fixed interest rates to cover businesses from any rises in interest rates during the finance term. - Fixed repayments which are negotiated to work with cash flow. - Fixed finance terms up to 7 years to provide certainty for business planning moving forward. ## Comparing interest rates and Repayments To work out what the best finance deal may be on your choice of best Ute, just head to our interest rate and finance calculator or call us for a quote. **Contact Jade Car Loans on 1300 000 003 for a finance quote on the best Ute** **in the world, Toyota HiLux** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Bad Credit Car Loan. How, why and what to expect](https://www.jadecarloans.com.au/blog/bad-credit-car-loan-how-why-and-what-to-expect) **Published:** December 6, 2021 **Author:** Publisher **Content:** There are a whole range of circumstances that can leave businesses in a position of having a poor or bad credit rating. This can be a result of loan payment or other credit account defaults, bankruptcy, poor financial management or business turnover simply not sufficient to meet expenses. While running a business in boom times can still have its financial challenges, operating within the restrictions and limitations imposed by the COVID situation has been even more challenging for many. The fallout leaving some with a bad credit rating and difficulties securing motor vehicle finance. Jade Car Loans outlines what to avoid, what to expect, how to connect with lenders and the finance options available for business owners to secure a bad credit car loan. Bad credit is considered as having a low credit score. The lower the score, the worse the credit rating and the higher the risk factor. This is different from ‘no credit’ which is having no credit record, profile or score at all. People or businesses that have never borrowed or entered into a credit arrangement would be in this category and that would be extremely rare in contemporary business environment. ## What to Avoid Before getting into what is available and possible for those seeking bad credit motor vehicle finance, here are a few tips on what to avoid:- - Going alone and applying for the same loan to multiple banks and lenders. Multiple finance applications can make the situation worse as lenders will report loan applications to the credit bureaus and this can be seen as desperation. For more on how credit reporting agencies work, refer the [MoneySmart](https://moneysmart.gov.au/ "Visit the MoneySmart Financial Resource"). When a finance broker makes those applications on behalf of a customer, the applications are not reported in this way and hence the process does not have the same negative impact. - Holding multiple loans and credit accounts already may exacerbate the situation by increasing the risk rating as assessed by some lenders. Reducing existing debt by paying out or down loans may increase the prospects of a better priced bad credit car loan. - Agreeing for a desperation car finance offer at an exorbitantly high interest rate in the fear that maybe that will be ‘as good as it gets’ for your situation. It is worth doing more research and making more enquiries as to what is available to you, especially through a car finance broker such as [Jade Car Loans](/why-jade-car-loans "Explore Financing Options with Jade Car Loans"). ## Credit Profile The credit profile or credit score is the key to a good car loan. The difference between ‘poor’ and ‘bad’ credit may be the difference in the credit score so addressing issues with a credit profile prior to applying for a new loan may result in a better outcome. A wide range of payments are reported to credit agencies for listing and assessment on a credit profile and which contribute to the credit score. But there may be errors or entries that are outdated. There is a process whereby individuals can have these issues corrected. Refer to MoneySmart for official guidance. ## Connecting with Bad Credit Lenders Not all banks and finance companies offer bad credit car loans. There reasons will vary with some related to their status and corporate guidelines and others possibly by choice. But there are predominantly non-bank lenders that do provide this type of finance. These are lenders that may take into account the reasons as to why the bad credit rating has come about and as such offer acceptable and workable interest rate finance. Many will operate primarily as business-to-business lenders meaning within the finance sector. Brokers like Jade Car Loans provide access for customers to these specialist non-bank lenders for bad credit car loans. Jade Car Loans is accredited with many banks and non-bank lenders which provides us with a wide scope of options for our customers seeking bad credit finance. Our consultants handle the approach to request a quote, negotiate the car loan interest rate and any conditions the lender may choose to attach to the finance. ## Expectations and Possibilities Achieving workable bad credit car loans are a realistic possibility but applicants should know what to expect. Possibly be prepared to compromise on choice of vehicle and preferred finance arrangements. - The risk assessment of a bad credit loan application will higher than for a good credit application. The higher risk assessment can play out in a number of ways:- - The total loan amount requested may not be accepted by lenders. Applicants may have to be more reasonable with the loan amount being requested. This may mean opting for a lower priced vehicle and /or making an upfront payment to reduce the overall amount being requested. No deposit finance may not be offered on all bad credit car loans. - The interest rate offered is likely to be higher than that advertised by most lenders. The advertised interest rates are typically based on a good credit profile. While lending interest rates in general are at historic lows as the RBA has kept the official cash rate on hold, such rates may not apply to bad credit car loans. - While the vehicle is used as security against the loan, additional security may also be requested by a lender. ## Bad Credit Business Vehicle Finance Bad credit motor vehicle finance is not a specific loan type but a category which describes the applicant. So when a bad credit applicant is approved for finance, they may have the choice of finance from our [portfolio of business vehicle loans](/business-car-finance "Browse a Selection of Corporate Vehicle Financing Options"): - [Sole Trader Motor Vehicle Finance](/car-chattel-mortgage "Tailored Auto Financing for Independent Business Owners") - Car Lease with Bad Credit - Bad Credit Car Commercial Hire Purchase All bad credit car loans need to be individually quoted. So get in touch with us for a confidential discussion and obligation free quote for bad credit motor vehicle finance which will work you’re your cash flow and circumstances. **Contact Jade Car Loans on 1300 000 003 for bad credit car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Financing Vehicles for People with Disability](https://www.jadecarloans.com.au/blog/financing-vehicles-for-people-with-disability) **Published:** December 6, 2021 **Author:** Publisher **Content:** December 3 is [International Day of People with Disability](https://www.idpwd.com.au/ "Learn More About the Global Celebration of Disability Rights") which is a day observed by the United Nations and is supported by the Australian Government. The day aims at increased public awareness, acceptance and greater understanding of people with disability as well as celebration achievements and contributions and promoting inclusion. As motor vehicle lenders, the day presents the ideal opportunity to discuss financing vehicles for people with disability As specialists in motor vehicle finance, Jade Car Loans offers specialist lending services and contacts that include financing vehicles for people with disability. Buyers and those seeking finance may include a person with a disability, a carer or a business offering a transportation service for people with special needs. The type of buyer will determine whether a personal car loan or business vehicle finance is the most suitable form of loan. We offer the full range of finance options. ## Types of Vehicles Financed The types of vehicles available to be financed may include wheelchair-accessible and vehicles customised and modified to suit individual and specific requirements. These can include passenger cars, SUVs, vans and mini-buses. The options include driver position set-up to drive from a wheelchair or conversions for passenger seat or the second or third row. According to experts Kia Carnival, Caravavelle, VW Multivan, Transporter and Caddy are examples of vehicles which are suited to the second row being converted. Accessories and additional mobility features may include side steps, winch, ramps and docking stations for wheelchairs. For those with spinal cord issues, are paralysed or have limited foot, arm and hand function, vehicle modifications and equipment are available. [Spinal Cord Injuries Australia](https://scia.org.au/vehicle-modifications/) provides information on adapting private vehicles to suit specific needs including for those that cannot operate foot pedals. ## Loans and Finance Finance is available for new and second-hand vehicles in this category. The vehicle may already be modified or require conversion. If purchasing a vehicle which requires modifications, our consultants will discuss including the cost of the conversion process into the overall loan amount. Our service includes handling the entire loan sourcing, structuring and securing process. This may also involve liaising with the car seller and any organisations that may be contributing to the cost of the vehicle such as NDIS. For buyers of private vehicles, our [Secured Car Loan](/secured-car-loans "Unlock Auto Financing with Collateral-Backed Loan") is the most widely used type of loan. With this loan, the lender accepts the vehicle as security against the loan and the borrower repays the loan in equal monthly instalments over a set loan term. We arrange Secured Car Loans at a fixed interest rate and over a fixed loan term which results in a fixed repayment amount. All those elements remain constant regardless of whether or not there is a change in the official cash rate or general car loan interest rates. For buyers of vehicles to be used in a business, the choice of [finance business car](/overview-of-business-car-finance "Explore Corporate Vehicle Financing Solutions") products include: - Chattel Mortgage - Vehicle Leasing - [Car Hire Purchase](/commercial-hire-purchase "Discover Vehicle Purchase with Financing Options") for Motor Vehicles These loan types have varying features and are suited to different business setups. Differences are around the method of accounting implemented by a business, how and when the tax deduction is realised, depreciation of the vehicle, balance sheet entry, treatment of GST and in the interest rate. Interest rate variations in business finance products reflect the variations in the loan structure. For businesses considering utilising [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Explore the Current Full Expensing Policy") with their vehicle purchase, Chattel Mortgage is seen as the most appropriate form of loan for that purpose. This measure is available for eligible asset acquisitions by eligible businesses until June 2023. The asset depreciation is realised in the year the asset was purchased. So to realise the benefit in 2021/22 the asset would need to be acquired and in use by June 2022. ## Finance for Vehicle Conversion If a vehicle has been purchased and now requires modifications and conversion to be suitable for people with disability, an [Unsecured Persona](https://www.jadecarloans.com.au/unsecured-personal-loans.php "Access Personal Financing without Collateral")[l](/unsecured-personal-loans "Access Personal Financing without Collateral")[ Loan](https://www.jadecarloans.com.au/unsecured-personal-loans.php "Access Personal Financing without Collateral") or Unsecured Business Loan may suit financing for that purpose. Unsecured loans are available for a wide range of purposes where the goods being purchased are not suitable to be offered as security against the loan. ## Calculating Repayment Estimates For prospective buyers looking to get a rough idea of loan repayments on a vehicle for people with disability, we have provided an easy to use car loan calculator. When considering a [start up business car](/new-car-finance "Explore Vehicle Financing for New Businesses") loan, by entering the amount required for the loan and the loan term which would be preferred, the calculator automatically generates a rough repayment amount. Ensure you are entering the correct interest rate for the loan type which best suits your requirements. Note that our current advertised interest rate does apply to new goods for applicants with good credit profile. If purchasing a used vehicle, a different interest rate may apply. For a loan quote on a used vehicle, contact us. Whether you are the person requiring a special vehicle or you regularly transport a family member, friend or other person or you are a company involved in the transportation of people with disability, we welcome your enquiry regarding car finance. **Contact Jade Car Loans 1300 000 003 for financing a vehicle for people with disability** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Bathurst have you revving for a new car? Latest best selling cars revealed](https://www.jadecarloans.com.au/blog/bathurst-have-you-revving-for-a-new-car-latest-best-selling-cars-revealed) **Published:** December 13, 2021 **Author:** Publisher **Content:** The annual Bathurst 1000 once again delivered for motoring enthusiasts. Full of thrills and action with the safety car sessions in the latter part of the race forcing teams to recalculate fuel useage to ensure they made it to the line. As it has been for many years, it was another close, heart-stopping finish as Chaz Mostert and Lee Holdsworth took the chequered flag and the most sough-after trophy in Australian motorsport. It was Mostert’s second title and a first and much coveted for Holdsworth after a long and illustrious driving career. If Bathurst has revved up your interest in buying a new car, the latest best selling cars have been revealed for November and we update on cheap car loans to make that purchase. ## November Car Sales Results Mostert and Holdsworth took out Bathurst in a Holden Commodore, which unfortunately for the legions of fans, are no longer available. For many buyers of other makes and models, supply has also been an issue as global supply chain and pandemic issues continue to play havoc with the delivery of new vehicles into the hands of Australian buyers. In a media release in conjunction with the release of the November car sales data, Tony Weber, Chief Executive of [FCAI](https://www.fcai.com.au/news "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") said that demand remained strong across the sector and the drop in sales reflected the issues with the international supply chain. The sales for November 2021 show a 15.3% drop on November 2020 figures for new vehicles. As Mr Weber notes, the microprocessor shortage as well as other pandemic restrictions continue to constrain sales. The microprocessor issue can’t be underestimated as it is not just affecting the motor vehicle industry but a whole raft of manufactured goods – whitegoods, tech, appliances – this list is endless. Individual parts in motor vehicles which can number up to 3,000 may each require individual microprocessors in some cases. So if you’re in the market for a new vehicle in the near future, what’s happening with the supply of computer chips is a definite issue to stay across. Despite the overall decline compared with November 2020, according to VFACTS, the sales of passenger cars and SUVs appears to have been fairly consistent over the past few months following an uptick in June when business buyers would have been buying to take advantage of EOFY deals and tax benefits. ## Top Makes and Models Just like the Top 10 Shoot Out at Bathurst, the monthly car sales data has a Top 10 for models for that month and for car makers for the year overall to date. While new car buyers can use these rankings as a guide to quantity of vehicles sold, there a few things to keep in mind. The figures are for vehicles actually delivered into the hands of buyers. Due to the hold-ups in supply, many dealers have extensive order books which they are waiting stock to fill. In the best-selling models, it was [Ford Ranger](https://www.ford.com.au/commercial/ranger/ "Explore the Ford Ranger") again tipping the Toyota HiLux from top spot with the Hyundai i30 in third place. The top 3 were followed by Toyota Corolla, RAV4, Nissan Navara, Mitsubishi Outlander, Mitsubishi ASX, MG ZS and the Hyundai Tucson rounds out the top 10. For the brand top 10, it’s not surprising that with multiple models in the top 10 best seller list, [Toyota](https://www.toyota.com.au/ "Toyota Products") is way out in front on top of the top selling brands for 2021 so far. As mentioned above, the data of models is based on sales for that month while the brand comparisons are for sales for the year to date. In second spot behind Toyota was Mazda, then Hyundai to make up the top 3. Ford is currently in 4th spot but with good sales of the Ranger currently, will they be able to nudge onto the podium by the end of 2021? Kia, Mitsubishi and Nissan then follow with VW, MG and Subaru rounding out the 10. December is traditionally a big month for car sales as buyers rush to get a new vehicle before Christmas but the shortages may continue to hamper sales. ## Car Loan Update While some manufacturers are managing to make deliveries to eager buyers – we note Toyota has just delivered LandCruiser stock to meet orders, shortages and shipping issues are certain to have an impact on availability of some makes/models for December buyers. Buyers may have to compromise on their wish list if securing a new vehicle is a priority over a particular make or model. Securing finance ahead of time can contribute to expediting the car buying process. Securing a pre-approved loan is the way to go if you want to be in a position to confidently sign a sales contract on the first visit to the showroom. Jade Car Loans offers pre-approved loans across our [business car finance portfolio](/overview-of-business-car-finance "Browse a Range of Financing Options for Corporate Vehicles"), for both business and private buyers. [Business car loan interest rates](/car-finance-interest-rates "Explore Competitive Rates for Corporate Auto Financing") on pre-approved car loans are the same as for loans arranged post-purchase and the same loan types, terms and conditions would apply. So if all that Bathurst action has your interest in buying a new car revved up, speak with us first about cheap car finance to ensure you’re in pole position to secure your new vehicle. **Contact Jade Car Loans 1300 000 003 for new car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [RBA’s December Interest Rate Decision](https://www.jadecarloans.com.au/blog/rbas-december-interest-rate-decision) **Published:** December 13, 2021 **Author:** Publisher **Content:** The final meeting for the year of the [Reserve Bank of Australia](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") (RBA) Board to determine the official interest rate was held on 7th December. The outcome of the meeting was hardly surprising considering the Board’s consistent messaging over recent months. We relate the RBA’s December interest rate decision around the official cash rate, its outlook for the economy and any impact the decision may have on car loan interest rates. ## RBA Decisions and Car Interest Rates Interest rates are at the foundation of all private and business vehicle finance as the rate essentially determines the overall cost of the loan and affordability of a certain car for the buyer. Jade Car Loans focuses on achieving cheaper interest rates to optimise affordability of car loans for our customers. So how does decisions on the official cash rate affect the car loan interest rates we can achieve? Part of the RBA’s responsibilities as Australia’s central bank is to set the official cash rate. This is not the interest that borrowers will be offered for loans but the rate charged on unsecured overnight loans between the banks. Essentially and in simpler terms, it is a base rate which is one of the factors that determine how much lenders pay for the funds and hence what they will charge on the loans and finance. The official cash rate has been at the historic low level of 0.1% since November 2020 after the RBA cut the rate on several occasions in 2020 as a monetary policy response to the effects of the COVID-19 pandemic on the Australian economy. Essentially, the cheaper money is to borrow, the greater the incentive for primarily businesses to borrow to invest and hence stimulate the economy. ## December RBA Outcome At the December 2021 meeting the RBA Board made the decision to hold the official cash rate at the current 0.1% or 10 basis points. While not really surprising, it comes as many in the financial markets are expecting the RBA will need to increase the rate as inflation pressure increases. In the statement explaining the December decision, the RBA Governor, Philip Lowe outlined the central bank’s reasoning and expectations for the economy. Key points in the statement include:- - The economy is recovering after the setbacks caused by the major outbreak of the Delta variant of coronavirus. - Household spending is bouncing back strongly and the business investment outlook has also improved. - Uncertainty exists around the Omicron but there is an expectation that it will not derail the current recovery. - In the first 6 months of next year, 2022, there is an expectation that the economy will return to the path it was on prior to the emergence of the Delta strain. - A strong labour market recovery is indicated with historic high levels of job ads and many businesses facing difficulties in filling job vacancies. - While growth in wages has shown some pick-up, it remains at a relatively low rate. - As a tightening in the labour market emerges, wages growth is expected to pick-up but only at a gradual level. - Inflation (a key indicator for the RBA to move on rates) is noted as increasing but still remaining at a low 2.1%. The CPI inflation rate, impacted by high fuel prices, is at 3% but the underlying inflation rate is the target being watched by the RBA. - A 2.5% underlying level of inflation is expected to be reached over the 2023 year. The RBA has consistently stated that it is looking to this key inflation rate to be in the range of 2-3% and sustained in that range before moving to increase the cash rate. Soaring house prices has been a concern for the markets and analysts to urge the RBA to move. But the RBA statement notes that loan commitments in the housing sector have declined recently from the higher levels posted in the past year. The RBA Board does not meet again until February 2022 and at that meeting it will consider its bond buying program which forms a major part of the monetary policy and economic stimulus over the past two years. ## Where to now with car loan interest rates? The decisions made by the RBA on the official cash rate do have a significant bearing on the rates which our lenders attach to motor vehicle finance. The rate is one of the keys to their costs but is not their only consideration. Many lenders source funds from international channels and the costs associated with this process will vary. As such, lender rates will also vary across the lender market and across the types of loans. For now, our [commercial vehicle loan interest rates](/car-finance-interest-rates "Competitive Rates for Business Car Financing") across our Jade Car Loans portfolio remain extremely low and in line with our consistent policy of achieving better interest rates on all our loan categories. For those considering a new car purchase with finance, securing a fixed interest rate loan will lock-in that loan at our current car loan interest rate for the full term of the loan. So even if rates do increase at any time during the car loan repayment period, the interest rate on that loan will not change. As we said, the next decision on the official cash rate by the RBA is not scheduled until February 2022 and all will be hoping that no further new strains or twists and turns with COVID-19 will impact the economic recovery in coming months. **Contact Jade Car Loans 1300 000 003 to discuss a fixed interest rate car loan.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Budget Updates, Omicron and Interest Rates](https://www.jadecarloans.com.au/blog/budget-updates-omicron-and-interest-rates) **Published:** December 20, 2021 **Author:** Publisher **Content:** Amidst the festive season, restrictions being eased and in the same week that cases of the new Omicron variant of the coronavirus soared in several states it was time for mid-year budget updates. The Federal Treasurer Josh Frydenberg and NSW Treasurer Matt Kean both delivered mid-year updates on the budgets they delivered earlier in the year. It was a busy week with plenty of information to digest, process and form a view what it all means for individuals and businesses. We provide a summary of the latest budget updates, Omicron and interest rates from the motor vehicle and general lending perspective. ## MYEFO: Federal Budget Update Under the official Charter of Budget Honesty, the Federal Government is required to release a mid-year update which is titled [Mid-Year Economic and Fiscal Outlook](https://archive.budget.gov.au/index.htm "Read the Latest Mid-Year Economic and Fiscal Update") with the acronym MYEFO. This report updates on the fiscal and economic outlook as well as taking account of decisions which have been made by Government since the Budget release. Decisions which affect receipts and payments and as such revises the aggregate values in the Budget. The 2021-22 MYEFO document runs to 428 pages for those who are interested in the full detail. For those more concerned with the basics, here are some key take-outs:- - Prior to delivering MYEFO, Treasurer Frydenberg described the economy as ‘primed for lift-off’ in 2022. - Despite rising cases numbers, he said there were encouraging signs about the nature of Omicron and it could be expected that the economy would rebound, unemployment would continue to fall and restrictions would continue to be eased. - International borders would allow skilled workers and international students to return to fill job vacancies, a problem which has been plaguing the recovery for many industries. - MYEFO forecasts unemployment at 4.5% in 2022 and 4.25% by the June quarter in 2023. - Increase in tax revenues will contribute to reducing the deficit over the next 4 years. - Australia well-place to deal with pandemic challenges with high vaccination rates and economic outcomes. But the new variants pose risk to fiscal and economic outlooks. - 75% growth in real GDP expected 21/22 and 3.5% in 22/23 - Government addressing shortages in the workforce with a number of target measures. ## RBA Comments Dr Philip Lowe, Governor of the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia"), was also delivering a speech on the same day as MYEFO and made comments around the impacts of the Omicron variant. Dr Lowe’s comments are significant for lenders as the RBA is tasked with setting the official cash rate which then of course flows onto the interest rates on car loans. Dr Lowe acknowledged and cautioned that the new variant did present a risk but that he expected the positive momentum in the economy to continue through coming summer months. This he said is underpinned by the high vaccination rates, opening up and the good balance sheets of households and their ability to spend. As far as a possible increase in the cash rate as the US Federal Reserve is tipped to do in 2022, Dr Lowe once again played down that possibility. Saying the RBA was waiting for that sustained level of inflation in the 2-3% range and that was not expected to be achieved in 2022. ## NSW Budget Update As the largest state economy and after a winter of lockdowns, the performance of the NSW economy is extremely significant. NSW Treasurer Matt Kean also delivered a [half-yearly budget update](/blog/luxury-car-tax-threshold-increased-for-fy24 "Check Out the Semi-Annual Fiscal Report") on Thursday 16 December, revealing the major impact that the extended lockdown over the winter has had on the financial position of the state. Jobs is an important factor to many businesses and Mr Kean said it was expected that by first quarter 2022 the jobs lost during the Delta outbreak would be recovered and new jobs created. The debt/deficit has increased significantly but the economy is expected to bounce back over coming months. ## Summary While these mid-year fiscal and budget updates don’t have a direct impact on the [best business car loan rates](/car-finance-interest-rates "Competitive Business Vehicle Finance Rates at Jade Car Loans") being offered on motor vehicle finance – the key focus at Jade Car Loans as a lender, the outlook for the economy can be significant for those considering investing in new vehicles. One of the major issues holding many businesses back from bouncing back has been workforce shortages. The measures announced in MYEFO may mean better times ahead for your business and a sign that now is the right time for those new vehicles. If financing is a consideration, [low doc car loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles") can be a suitable option for many businesses. For individuals, the prospect of an improving jobs market and economy can also present a reason to move on your new car purchasing plans. The prospect of more reliable and continual work and solid income moving forward, can improve the car loan application and present better prospects to achieve a cheaper car loan interest rate. Amidst all the positivity, an issue which remains as the ‘elephant in the room’ is issues with the global supply chain. Omicron is causing some European countries to reinstate restrictions and the rising case numbers have the potential to cause factory and manufacturing short-term closures in these regions and further delays in goods such as cars reaching Australian market. To move on your car purchase now, request a quote and arrange a pre-approved car loan. **Contact Jade Car Loans 1300 000 003 for new car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Cracking a Hot Hatch Loan](https://www.jadecarloans.com.au/blog/cracking-a-hot-hatch-loan) **Published:** December 20, 2021 **Author:** Publisher **Content:** With the massive surge in popularity for SUVs especially in the compact, small and medium categories, the humble hatchback has seemingly been all but retired. At least by some manufacturers in the Australian marketplace. Along with the body shape has also seemingly gone the manual transmission. For many urban and newly licensed drivers, the hatch has always been the go-to vehicle of choice. For those that are on the hunt for a hot hatch, we cover off on what makes and models of hatches to look for and assistance for buyers in cracking a hot hatch loan at a cheap interest rate. Driving a manual hot hatch can be a great experience and when it comes to finding parking, especially in urban regions, the smaller size can be an absolute gift! In past times, the manual hatch was a constant in the range of most car makers. That small, lowest price-point vehicle with widespread appeal. But the rise of the SUV and the increasing popularity for auto transmissions has seen manufacturers forego the hatch category. Sure, many compact SUVs are a worthy option for hatch buyers. But, mmm, not totally. There are plenty of buyers that have a stylish, low cost hatch on their car-buying wish list. ## Current Hatch Market To assist buyers, we’ve scanned the market to bring you a selection of makes and models to check out. Some are even still available with manual transmission! Here’s a general wrap of what to consider and we suggest checking out the manufacturer specs online to see which models are currently available in manual transmission. While not all of these will meet the ‘hot hatch’ criteria, they may meet your requirements for a small car:- - [Hyundai i30 N](https://www.hyundai.com/au/en "Explore the Hyundai i30 N Model") - Ford Focus ST - [Honda Civic Type R](https://www.honda.com.au/cars/hatchback/civic) - Hyundai i20 N - Ford Fiesta - Citroen C3 Shine - VW Polo - Suzuki - MG 3 - Mitsubishi Mirage - Toyota – Yaris and Corolla - Kia Picanto - Mini 3 door Hatch ## Price Appeal of the Hatch One of the greatest and enduring attractions to the hatch is of course the price. While some truly high-performance hot models do edge up into the higher price brackets, these smaller cars are traditionally at the lowest end of the price range. An appealing feature for those that really want a basic transport means without having to pay too much. And of course, a lower price point means lower car loan repayments! To see what you could possibly be paying on a loan for a hatchback, refer to our [Car Loan Calculator for businesses](/car-finance-calculator "Utilise a Business Auto Loan Calculator"). Input the price of the vehicle, and preferred loan term and instantly see the repayment estimate. Now do the same for another make/model or even for a compact/small SUV and see the difference. The calculator is an extremely useful resource for car buyers to crystallise their priorities when it comes to purchasing a new car with finance. ## Hatch Car Loans Jade Car Loans provides a full range of loan options for both private and [business car finance](/business-car-finance "commercial vehicle Loans") buyers. For private hatch buyers, the Secured Car Loan will most likely be the loan for you. When reviewing interest rates, as a consumer loan, you will see both an Interest Rate and a Comparison Rate. The Comparison Rate is the rate calculated for a specific car loan example and includes loan costs. Always refer to the example details when reviewing interest rates and remember that interest rates advertised are always for new vehicles, unless otherwise indicated by the lender. For business owners looking to purchase a hatchback for use in their operation, you have the choice of a range of finance products:- - [Sole Trader Car Financing](/car-chattel-mortgage "Tailored Vehicle Financing for Independent Entrepreneurs") - Vehicle Leasing - Commercial Hire Purchase - Novated Car Leasing with Salary Sacrificing Businesses are always advised to refer to their accountant when deciding on which car finance product will best work for their business. Many of the features refer to accounting measures and practices. New cars, including hatchback types, are included as eligible assets for temporary full expensing as long as the vehicle is for use in the business and meets the other criteria. For those with their eye on taking advantage of this measure, Chattel Mortgage would be the suitable finance option. ## Cracking a Cheap Hatch Loan Chicken or egg, loan or car, which comes first for those wanting to crack a cheap hatch loan? The decision can be personal preference but with the current stock issues in the motor vehicle market, buyers that arrive at a dealership with their finance already sorted, may be the early birds when it comes to delivery. Pre-approved loans are available across our loan portfolio. There is no difference in the loan structure, features or interest rate which results from when a loan is secured – before or after purchase. Currently, our cheap car loan interest rates reflect both our ongoing commitment to better rates and also the historic low official cash rate. Rates do vary across the motor vehicle lending market. By engaging Jade Car Loans to source your loan, you have the advantage of professional and industry-level access to a vast number of banks and lenders. Access which results in the cheapest loan offer to meet your requirements being secured. So if you’re on the hunt for a hot hatch, a manual hatch or just a convenient hatch as your preferred mode of transport, speak with us to crack that cheap hatch loan. **Contact Jade Car Loans on 1300 000 003 for a car loan on a new hatchback** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Comparing Car Loans](https://www.jadecarloans.com.au/blog/comparing-car-loans) **Published:** December 29, 2021 **Author:** Publisher **Content:** When in the market for a new car, most buyers will wisely compare the various makes and models available that meet their criteria. They usually know what they want in a vehicle and therefore what to look for and what questions to ask of the dealer. But as sourcing finance is not something that everyone needs to do on a regular basis, buyers may not be as knowledgeable about what to do when comparing car loans. The Australian motor vehicle lending market is one of the largest sectors in the finance industry and can be extremely competitive. When comparing car loans to source the cheapest and most suitable offer, buyers should have a good understanding of lenders, interest rates and loan types and take advantage of the resources available to them. ## Understand the Lending Market The motor vehicle lending market consists of banks, non-bank lenders such as finance companies, dealer finance and finance brokers such as [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing"). While there are some standard processes and practices across the market and uniformity around loan types, lenders will have their own individual guidelines and approaches to assessing loan applications and arriving at a finance offer. - Banks are the traditional and long-standing lenders for all types of loans but can have strict guidelines they must adhere to and are not known for being negotiable on interest rates or loan conditions. - Large finance companies, while not holding banking status, can operate similarly to the major banks but may have some flexibility in regards to conditions. - Non-bank lenders can include specialist lenders operating primarily through brokers and offering business finance rather than consumer car loans. They are known for have greater flexibility and being more negotiable on interest rates and loan structure. - Dealer finance for new cars is often through the manufacturer’s finance arm. - Used car dealer finance is usually through an arrangement between the dealer and a finance company. - Dealer finance is typically provided to capture buyers at the initial test drive stage so as not to lose them and a sale if they need to leave to sort their loan. Seen as a convenience by many, but it can be worth checking other offers from other sources. - Finance brokers such as Jade Car Loans have accreditation with multiple lenders and can quickly assess a large section of the market to source the most suitable and cheapest offer for buyers. Brokers handle negotiations and arrangements on behalf of buyers to save time and achieve the cheapest offer. Lenders can specialise in either business or consumer car loans or they may offer both. Some lenders may specialise only in motor vehicle finance while others will have an interest in multiple lending sectors. ## Take a Keen Interest in Interest Rates The interest rate is the major cost of borrowing money and those taking on a car loan should take an interest in interest rates. The [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") sets the official cash rate which forms essentially a basis or starting point from which lenders then set their own rates for different loan sectors. A small variation in the percentage of the interest rate offered on a loan can mean a significant difference in total interest when calculated over the full term of a loan. So achieving the cheapest interest rate is a major objective for astute buyers. Car loans can have fixed or variable interest rates depending on the lender and the type of loan. A fixed rate means the rate will stay the same over the full term of the loan. A variable rate means the rate charged by the lender can change if and when the official cash rate or their individual rates change over time. A Comparison Rate relates to consumer car loans and all lenders active in this sector are required under Consumer Law to display this rate along with their Interest Rate. The Comparison Rate refers to the interest rate on a specific car purchase when fees and charges have been factored in. The details of the specific example are noted in conjunction with the rate. While [commercial car loan rates](/car-finance-interest-rates "business car loan interest rates") will be advertised by lenders, this will, in most cases, be based on new goods (unless otherwise specified) for loan applicants with a good credit rating. Applicants can address issues with the credit profile prior to applying to improve their chances of a good rate offer. ## Clearly Differentiate the Loan Types There are distinct differences between the types of loans available for private consumer car purchases and for business vehicles. Consumer car loans are the most commonly-used Secured Car Loan and an Unsecured Personal Loan. An unsecured loan may be sought where the vehicle is not suitable for or accepted as security against the loan. Businesses have the choice of Chattel Mortgage, Lease and Commercial Hire Purchase. These finance types offer variations in regard to tax benefits, interest rate, accounting details and structure. Pre-approved loans are available for all types of loans and are loans which are applied for and processed through to ‘approved’ stage prior to the buyer making a purchase commitment. No deposit car loans are loans where 100% of the purchase price of the vehicle is included in the amount of the loan. These can be available on all types of loans depending on lender risk assessment of the applicant. ## Utilise Freely Available Resources Car buyers seeking to compare car loans can take advantage of [Business Car Loan Calculators](/car-finance-calculator "commercial car loan calculator") to work out the estimated repayments for different types of loans and vehicles. These calculators are extremely useful when comparing interest rates on different loans to see how the rate different rates relate to repayments. Most car finance lenders will offer free quotes so buyers can get multiple offers in order to make informed decisions. ## Cut through the Confusion The motor vehicle finance market is large and competitive which can lead to confusion for some seeking a car loan. Jade Car Loans assists buyers by handling the entire loan sourcing, negotiating and arranging process on behalf of customers. We save people time, cut through the confusion and deliver better interest rate loans. With our accreditation with multiple banks and lenders, we make the process of comparing car loans quick and simple. **Contact Jade Car Loans on 1300 000 003 for new car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What is attracting so many buyers to the Ford Ranger?](https://www.jadecarloans.com.au/blog/what-is-attracting-so-many-buyers-to-the-ford-ranger) **Published:** December 29, 2021 **Author:** Publisher **Content:** The Ford Ranger has taken out multiple awards in 2021 and topped the best-selling list for several months. No mean feat as the [Toyota HiAce](https://www.toyota.com.au/hiace "Discover the Toyota HiAce Van Model") had seemingly held an unbeatable position in the top selling vehicle rankings. Sure, delivery issues associated with COVID do need to be taken into account when considering car sales figures. But the Ranger has also taken out the carsales Best Dual Cab Ute for 2021, the Drive 2020 Dual Cab Ute category and the award from Money Magazine for the Best Value Tradie Car. We take a look at the features of the Ford Ranger and what cheap finance is available to see what is attracting buyers to make this such a popular purchase. But first, a warning. The Ford website displays a banner stating that the 2021.75MY Ranger has limited stock availability. For those interested in purchasing a Ford Ranger soon, be advised to contact dealers asap and speak with us to arrange pre-approved finance so you can commit to the purchase immediately. ## Ford Ranger Range Primarily a tradie or work vehicle, the style, design and capabilities of the [Ford Ranger](https://www.ford.com.au/commercial/ranger/ "Explore the Ford Ranger Pickup Truck") appears to make this equally the ideal recreational vehicle. Ford cater for buyers that want a purpose-specific vehicle, work or play, or a vehicle that does double duty 24/7/52/365. The Ford Ranger range includes both 4×4 and 4×2 models and single, double and super cab options across the range. The 2021 range includes XL, XLS, XLT, WildTrak and Raptor X. ## Key Features The 2021 Ford Ranger range includes more technology than previously plus greater interior comfort for those long days and is loaded with the smart safety inclusions that are increasingly becoming expectations rather than extras. With the XLT, buyers have options to fit their own choice of body or tray. This may be a custom or standard version. Tech includes a push-button start which can be a great advantage when you’re in and out of the vehicle and saves fumbling for keys. Leather trim and an 8” touchscreen are just some of the luxury inclusions. For also fit their branded embedded modem which can be connected to a smart phone to locate the vehicle and other functionalities. With an increased preference of thieves for utes, this can prove to be extremely useful as a deterrent or to locate a stolen vehicle. The off-road capabilities of the Rangers is legendary. Ideal for those working in challenging terrain or tackling the outdoors for enjoyment. Trailer boat owners will love the Ranger with its up to 3,500 kg towing capacity. Safety features, depending on model selected included AEB, active park assist, traffic sign recognition, hill descent control and lane departure warning. The features and inclusions vary across the models so buyers can select exactly the vehicle that meets their needs without the necessity to pay for what they don’t need. Ford offers a range of accessories and extras so buyers can customise their Ranger to their own specific requirements. Ford back-up all these great pluses with a 5 year warranty. Sounding like the Ford Ranger is your next vehicle? Let’s talk finance options to make that a reality and sooner rather than later. ## Cheap Finance Options and Deals Finance for Ford Ranger is available across the Jade Car Loans portfolio. Those purchasing as private use buyers will most likely be suited to the Secured Car Loan. This is a straightforward personal car loan where the vehicle is used as the loan security and the loan repaid in equal monthly instalments over the agreed term. Those interested in estimating repayments for the different Ranger models can use our Loan Calculator for quick estimates before making their vehicle choice. Those buying a Ford Ranger for use in their business have the choice of business vehicle finance products:- - [Car Chattel Mortgage](/car-chattel-mortgage "sole trader car loan") - [low doc business car loan](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles") - no doc car loans These finance products vary in their structure, suitability to accounting methods, how and when the tax deduction can be realised and interest rates. Chattel Mortgage and CHP attract a lower interest rate than Lease. This is not just with Jade vehicle finance but general across the motor vehicle lending market. Ranger buyers can amplify the benefit of our cheap interest rate finance by taking advantage of temporary full expensing with their purchase. For eligible businesses, this allows for the full purchase price of a business asset to be deducted or depreciated in the year of purchase. The alternative being to depreciate in smaller increments over several years. Chattel Mortgage is best suited to those seeking to utilise this accelerated asset depreciation measure. No deposit finance is available across our loan portfolio, subject of course to lender guidelines and approval. This allows for the full purchase price to be included in the finance. Terms of up to 7 years are available. Jade Car Loans offers pre-approved finance across our selection of car loans so Ford Ranger buyers can secure their finance ahead of the test drive and be well-placed to sign a sales contract on the spot. With vehicle supply a major issue across many brands, pre-approved finance is a smart way to operate. Check out the Ranger in person at your local Ford dealer to decide if this vehicle receives your top award. **Contact Jade Car Loans 1300 000 003 for Ford Ranger Finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Cheap Car Loans Offset Vehicle Price Increases](https://www.jadecarloans.com.au/blog/cheap-car-loans-offset-vehicle-price-increases) **Published:** January 3, 2022 **Author:** Publisher **Content:** One of the recurring topics in the motoring media recently has been the significant increases in pricing for some makes and models of popular cars. Price increases which in many cases come as a surprise to potential buyers and cause a rethink. Should they pay the extra to get their first choice or seek a cheaper priced make or model? One solution for buyers that intend to purchase a new car with finance is to look for cheap car loans to offset the increase in the price of new vehicles. The reasons for manufacturers increasing their prices can of course vary. It may be due to upping the inclusions with new tech and safety features, the costs of production and external factors outside of their control. The shortage of computer chips over the past year and production hold-ups as a result of COVID-19 may also be having an impact on manufacturer’s costs. For Australian buyers we also have that tyranny of distance issue. With shipping costs on the increase due to global events, the cost of getting motor vehicles from overseas manufacturing hubs to Australian dealerships is sure to have increased. So as the price goes up, buyers need to be savvier in sourcing their finance to make that increased price tag an affordable purchase. Jade Car Loans provides hints and tips on how to achieve cheap car loans to make that price increase on the car you want, workable. ## Focus on Payments not Prices When buying a car with finance, the more pertinent dollar figure to focus on can be the monthly loan repayment rather than the dealer-quoted price for the car. After all that is the amount that the buyer will be paying out each month. Buying tools are readily available to give buyers an indication of how car prices convert to car loan repayments. The [Car Business Loan Calculator](/car-finance-calculator "Calculate Commercial Vehicle Financing") is a must-have for car buyers. This device allows users to derive estimated repayments on any vehicle at any price and any time. Simply enter the anticipated price of the car if seeking no deposit finance or the amount required in the loan, along with the relevant interest rate and preferred term and the repayment estimate is displayed. ## Cheap Interest Rates Apart of course from the total loan amount, the [business car financing rate](/car-finance-interest-rates) is by far the key to focus on when seeking a cheap car loan. The interest on a loan is the single largest cost of borrowing money. So the lower the rate that can be achieved, the less paid overall on the loan and the lower the monthly repayments. Essentially, cheaper interest rates can significantly offset those vehicle price increases. Interest rates vary across the motor vehicle lending sector. While the [RBA](https://www.rba.gov.au/) sets the official cash rate, individual banks and lenders will have different costs of acquiring their funds and will price their loans differently. For private car buyers seeking a [Secured Car Loan](/secured-car-loans), we have prepared an interest rate comparison chart which shows the loans and interest rates available from Jade Car Loans and several other lenders. By inputting the amount of the loan required, it can easily be seen how the interest rate significantly impacts the repayment estimate. For business buyers, the interest rate differs for different finance products. We’ve prepared a guide to show our current low rates across our loan portfolio. Immediately selecting the cheapest rate finance – Chattel Mortgage, may appear simple common sense. However, the full package of benefits to a business of finance product should be assessed in consultation preferably with the business accountant. ## Varying Loan Terms While achieving the cheapest interest rate can deliver the cheapest car loan, varying the loan term can deliver a lower monthly repayment. Use the calculator to see the effect of terms on repayments. The loan term is not always a negotiable issue with all lenders. Some lenders will have strict guidelines around the number of years they will approve based on their risk assessment of the borrower, the age and condition of the vehicle, the loan amount requested and their own loan approval criteria. Having a Jade Car Loans consultant negotiating the loan can be a great benefit in achieving the desired loan term. ## Getting a Cheaper Car Loan While Jade Car Loans focuses on achieving better interest rates and cheaper car loans for our customers, there are a few actions that prospective buyers can take prior to applying which may increase their prospects of a cheaper loan. Lenders will review the applicants [credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports) and rating as part of the approval process. Interest rates advertised are, unless otherwise stated, for good credit profile applicants. Individuals and businesses can request a free copy of their credit report and take steps to fix any errors to improve their rating. Reducing debt is another step. An assessment of income and expenses also forms part of the approval process. So paying off other loans including credit cards, can improve the individual’s balance sheet and may contribute to more amenable terms and eventually a cheaper car loan. To improve their prospects of getting a cheaper car loan, savvy buyers will also engage the services of experts to assist. Jade Car Loans are experts in motor vehicle finance and work with both business and private buyers, handling the entire loan sourcing, negotiating and settlement process. So if the price of the car you want has gone up on the 2022 models, contact us to discuss how we can offset that increase with a cheaper car loan. **Contact Jade Car Loans on 1300 000 003 for cheaper car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Finance for Mazda BT-50](https://www.jadecarloans.com.au/blog/finance-for-mazda-bt-50) **Published:** January 3, 2022 **Author:** Publisher **Content:** According to sources, the availability of some vehicles is starting to return to the levels that Australian buyers enjoyed prior to the impacts of the pandemic being felt in overseas manufacturing plants. So while there has been constant messaging around delays in delivery of many makes and models, there are some that appear to be back on track and even ahead of schedule. One in particular is the Mazda BT-50. Availability as well as cheap finance for Mazda BT-50 could be the deciding factors for many ute buyers. While the [Toyota HiLux](https://www.toyota.com.au/hilux "Explore the Hilux") and Ford Ranger have dominated the car sales figures for some time, the 2022 Mazda BT-50 could be the real contender for your workhorse or recreational vehicle purchase. Adding to the appeal could be the availability – in dealerships now. A complete range of business and personal finance products for the new[ 2022 Mazda Build BT-50](https://www.mazda.com.au/build/ "Explore the Mazda BT-50") is available at cheap interest rates through Jade Car Loans. Explore the vehicle and the finance options to see if this meets your criteria for a new ute. ## 2022 Mazda BT-50 Billed as ‘The Complete Package’ the BT-50 has plenty to offer both those looking for a workhorse to make enjoyable work of the daily grind and those seeking a smart performer for towing the boat or caravan or just getting away into the great outdoors. The BT-50 is available in a great selection of models – single cab, freestyle cab, dual cab, 4×4 and 4×2, with buyers given multiple options to ‘build’ their vehicle to suit their specific requirements. The model many buyers are likely to hone in on is the new SP, the complete sport-luxe package. This is the newest BT-50 variant in the already impressive line-up and has plenty to appeal to both recreational and work users. The sleek look imbues all that is sport-luxe with 18” black alloy wheels, the sail plane sports bar and the exterior accents in black and grey for starters. This is a higher spec’d package that still retains the expected capacity for towing, taking a decent payload and performing in rugged, off-road environments. For those in the market for a new dual cab to kick off the year, being available in dealerships right now could be an added factor to draw buyers to the Mazda BT-50. Immediate delivery has been a big sticking point for motor dealers and buyers over the past year and being readily available is sure to make the new 2022 Mazda BT-50 a popular choice. ## Finance Options According to the Mazda website, the price range for the new Mazda BT-50 is $38,490 to $65,990. That is quite a range and of course the price will depend on which variant and options are selected. To ensure the price is workable, affordable and cost-effective requires sourcing workable finance. The first decision is to determine which finance product is best suited to the needs of individual buyers. Personal car loans differ from business vehicle finance and within the business vehicle finance range there are a number of choices. The go-to car loan for private buyers of new vehicles is the Secured Car Loan. This is straightforward in format with the car put up as the security against the loan and the loan repaid in equal monthly instalments. At Jade, we source this type of loan at a [fixed commercial car loan interest rate](/car-finance-interest-rates "Competitive Rates for Commercial Vehicle Financing") and over a fixed term to ensure fixed repayments. Business buyers can select from a range of loan types:- - Chattel Mortgage - Lease - Commercial Hire Purchase The key differences in the features and benefits of these finance products relate to accounting practices and measures and individual finance objectives. Specifically the method of accounting used by the business; when the GST is payable and claimable; how and when in the financial year the tax deduction is realised; and whether or not the BT-50 is entered into the business balance sheet. The other key variation is in the interest rate which applies to these finance products. Business owners can review the interest rates and individual features and benefits of each loan type to determine which will be the most cost-effective for their business. For those intending to capitalise on the tax benefits on offer through temporary full expensing, Chattel Mortgage is seen as the most suitable form of finance. To be eligible for business finance, buyers must at minimum have a current ABN and the vehicle needs to be for use in the business. Jade Car Loans can achieve cheap interest rate, affordable finance for new businesses that require Low Docs and No Docs Vehicle Finance. If the Mazda BT-50 is shaping up as your new vehicle, speak with us about pre-approved finance so you are ready to sign the purchase contract on your first visit and test drive at the Mazda dealership. **Contact Jade Car Loans 1300 000 003 for Mazda BT-50 Finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Figures Released: 2021 Top Selling Cars](https://www.jadecarloans.com.au/blog/figures-released-2021-top-selling-cars) **Published:** January 10, 2022 **Author:** Publisher **Content:** For buyers of new cars, 2021 has been a challenging year. While usually the buying decision involves tossing up between competing makes and models and seeing what the best deal they can be offered. But in 2021, many buying decisions were based on availability. Extensive lockdowns meant dealerships were closed for extended periods and global issues persisted. International supply chains and the big issue of computer chip shortages affected supply. But according to the Chief Executive of the Federal Chamber of Automotive Industries (FCAI), Tony Weber, consumers still found a way to purchase their new vehicles with solid sales numbers for the year. The FCAI has just released the figures for new vehicle sales for the year which reveals the 2021 top selling cars. For buyers looking to purchase a new vehicle, top seller lists can provide insights to assist with vehicle selection. But the 2021 top selling cars figures should be taken in context around the impacts of the pandemic, computer chip shortages and other issues re vehicle availability in the Australian market. ## 2021 New Car Sales Overview The 2021 [sales figures](https://www.fcai.com.au/news/index/view/news/750 "Review the Latest Statistics on Sales") released by the FCAI show a 14.5% increase in new motor vehicle sales over the 2020 figures. According to Mr Weber, considering the context around the pandemic etc this show the Australian market remains in a positive position. He said that the manufactures were working to strengthen their supply chains this year. In line with the global environmental movement, the sales of EVs posted a 191% increase over the 2020 results but the EV market still accounts for only 0.49% of the market. But non plug in hybrids performed very well and indicate a preference for this type of vehicle in Australia. It appears Australia’s love affair with SUVs continued with a 16.9% increase in that segment. With the surge in online shopping and home deliveries it is not surprising that light commercial sales were also up significantly. Light commercials and SUVs for business purposes were also no doubt driven by the attractive tax measures on offer through IAWO and [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn More About the Temporary Full Expensing Tax Provision"). ## Top Selling Makes and Models Comparing best-selling makes and models is a great exercise but as we have mentioned in our blogs when the VFACTS figures have been released each month, the sales have been affected by supply. But the annual figures do give a better idea than comparing monthly positions. For 2021 it was Toyota out in front taking a solid 21% of the total market and topping the list for something like 19 years in a row. This is probably not surprising for those that follow the monthly sales figures reports but for buyers, consistent and impressive sales figures could mean it’s definitely worth checking out the range. Toyota repeatedly has multiple models in the top 10 lists, offers an extensive range of commercial and passenger car models and has long been a reliable and favoured motor vehicle maker in the Australian market. Next was Mazda, followed by Hyundai, Ford and Kia making up the top 5. Then followed Mitsubishi, Nissan, Volkswagen, MG and Subaru. The top selling vehicle models for 2021 was a more closely fought battle. Ford Ranger eclipsed the Toyota HiLux in sales figures for a few months in 2021 which made for a thrilling finish. But it was the HiLux which just edged out the Ranger for top spot. Third spot went to the Toyota RAV4, fourth to the Toyota Corolla and fifth was another place for Toyota with the LandCruiser. The rest of the top 10 were the Hyundai i30 which has received many accolades, the Isuzu D-MAX, Mazda CX-5, Toyota Prado and rounding out the top 10, the Mitsubishi Triton. In the luxury brand market, Mercedes-Benz led in this sector just ahead of BMW and significantly ahead of Audi. With multiple work vehicles in the top 10, it appears business vehicle buyers have been active despite the challenging economic conditions in some sectors. Business buyers clearly taking advantage of both the general tax measures and the historic low interest rates to upgrade their vehicles at this time. ## 2022 Market Outlook While manufacturers are working hard to strengthen supply and availability in 2022, the emerging Omicron scenario both in Australia and overseas may have some impact. The variant is causing staffing issues across the Australian and no doubt global workforce as workers are forced to isolate. This may have an effect on production and supply, we’ll just have to see how that plays out. Availability already seems to be improving with some models launching in Australia ahead of schedule. As most new vehicle buyers will require finance, the interest rate scenario will be of key importance. The RBA meets in a few weeks for their first Board Meeting for 2022 and a decision on the official cash rate. It has been at the historic low level since November 2020 and while the RBA has consistently stated it was not expecting rates to rise until possibly 2024, some analysts are tipping an early rise. As always, Jade Car Loans offers [cheap car loan interest rates](/car-finance-interest-rates "Discover Affordable Interest Rates for Auto Loans") on new car purchases across our comprehensive portfolio of personal [business car loans](/overview-of-business-car-finance "Explore Corporate Auto Financing Solutions") and business finance. To assist buyers to match their repayment targets with new car prices, we provide car loan calculators. These buying tools are essentials for quickly converting the price or offer from the dealer into estimated repayments. Where availability remains scarce, ensure you speak with us to arrange pre-approved finance so you are well-placed to snap up available models. **For a quick quote on finance for one of the best sellers for 2021 or any other vehicle contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Low Docs Car Loans for New ‘22 Businesses](https://www.jadecarloans.com.au/blog/low-docs-car-loans-for-new-22-businesses) **Published:** January 10, 2022 **Author:** Publisher **Content:** Many Australians have taken the experiences of the past two years of the pandemic to make major life and work changes. A key change for many has been in the way they earn their living. We’re not talking just the move to work from home but the move to work for themselves. Some have seen the change as a necessity after possibly losing their jobs while others see it as a chance for a new chapter. Many are setting up new businesses in 2022 which require some form of vehicle. New businesses often do not meet the finance guidelines of major banks and will require low docs car loans. While not available through all lenders, Jade Car Loans does offer Low Docs and No Docs Car Loans to assist operators setting up their new business to achieve cheap and workable motor vehicle finance. If you’ve already been rejected for vehicle finance by a lender on the basis of being a new business or you are seeking finance to purchase a car for your new business, we outline what is involved in source the loan. ## Low Docs Car Loan Criteria The terms ‘low docs’ and ‘no docs’ are often interchangeable in referring to this type of car loan. It is not actually a type of loan but actually a description of the applicant. The business applying for the loan has very little (low) or none (no) of the financial records and documents (docs) that are required for standard business vehicle finance application form. These docs can include:- BAS statements, business annual accounts, business tax returns, bank statements, assets and liabilities statements, profit and loss statements and trading figures. Most of these financial records are accrued over the time a business has been operating. If a business is in the initial stages of operating or preparing to open, they would not have accrued those records. In addition to the docs, there are lenders that will have minimum trading periods as an eligibility criteria for business finance. This can be as short as one year or in some cases 2 years. This would leave many new businesses ineligible for finance from those lenders. [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Discover No-Doc Auto Financing Options") and No Docs Car Loans are provided through select lenders, primarily non-bank lenders, to cater for the specific needs of new businesses. The difference between ‘no’ and ‘low’ is the quantity of docs supplied as part of the application. But ‘no docs’ still has basic criteria to be met. - Businesses must be in possession of a current ABN. - As with all bank and finance documents and applications, identification is essential. - GST registration is not an essential criteria for most lenders but can often be considered as a positive for the application. If a new business has not yet registered for GST and anticipates a turnover over $75,000 each year, under Australian tax laws, they must register. This can be done via the online resources through the [ATO](https://www.ato.gov.au/Business/GST/Registering-for-GST/ "Visit the Australian Taxation Office (ATO) Website"). Many new businesses are small and often are self-employed individuals, owner-operators and have one or two owners/directors. It is quite common for lenders to consider the financial position and the [credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Assess Your Financial History and Credit Score") of the business owner(s) when assessing low docs car loan applications. Business owners may enhance their application by ensuring their own personal credit profile and score is in a good position prior to applying for business finance. Reducing personal debt including credit card balances is a popular way to improve a personal balance sheet. A personal guarantee from the business owner(s) may be requested by a lender. This may take the form of property or other assets or a personal commitment. ## Loan Sources As a specialist motor vehicle lender, Jade Car Loans has access to many different types of lenders including those that offer Low Docs Car Loans. Our consultants will be handling the finance process on your behalf and will guide you through what information and documents will enhance your application. Our consultants negotiate the interest rate and loan conditions with our lenders to source the cheapest low docs car loan offer. While some new business owners may think they will instantly only be offered a high interest rate loan, that is not a given. Jade can secure cheap interest rate low doc car loans for many new business operators. All applications are assessed on an individual basis and some attract specific conditions for the finance. These may include additional security being required or a cap on the total amount of the loan. Contacting us prior to purchase to arrange pre-approved vehicle finance can assist new businesses. It allows the business owner to know exactly how much they are approved to borrow and therefore what priced vehicle they can consider purchasing. ## Low Docs Finance Products As we indicated, low docs or no doc loans is the category of the business applying for the finance not an actual finance product. Low doc applicants can have the choice of the same [portfolio of business motor vehicle finance](/overview-of-business-car-finance "Browse a Range of Financing Options for Corporate Vehicles") as do fully documented finance applicants. - Low Doc Vehicle Chattel Mortgage - Low Doc Vehicle Lease - Low Doc Commercial Hire Purchase Discussing with an accountant or financial advisor which type of loan will best suit a particular new business is strongly encouraged as the tax benefits and other features relate primarily to accounting practices and methods. ## Applying for Low Doc Motor Vehicle Finance If you’re setting up as a courier owner-driver or just need a vehicle for use in your new business, applying for [ABN car finance](/abn-car-loan "Explore Vehicle Financing Options for ABN Holders") is a straightforward process with Jade Car Loans. Initial discussions can be done over the phone, or applications can be made online. So if 2022 is a new start for the way you derive your income, Jade Car Loans is ready to support you with low doc vehicle finance. **Contact Jade Car Loans 1300 000 003 to discuss low doc motor vehicle finance for your new business** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Saving Money on Your Car Loan](https://www.jadecarloans.com.au/blog/saving-money-on-your-car-loan) **Published:** January 18, 2022 **Author:** Publisher **Content:** Everyone has a budget when setting out to buy a new car. A budget expectation or target for both the purchase price of the car and for the car loan. Whether it’s a top of the range figure, a figure that works with the business cash flow or the lowest possible amount so weekly or household expenses are not compromised, buyers aim to achieve their target. Regardless of the range of budgets, there is sure to be one issue that all buyers would be seeking – to save money on their car loan. No-one wants to pay more than they have to! Saving money on the car loan can ease cash flow pressures for business buyers and allow private buyers more money to purchase other goods and meet their monthly household budgets. Saving money on your car loan is achievable by paying close attention to a number of aspects when sourcing motor vehicle finance. ## Interest Charges The interest charged on finance is the largest cost of a car loan. That is in the cost or charge of borrowing to purchase a vehicle as opposed of course to the amount being borrowed. So getting the cheapest interest rate is key to saving money. Locking in a fixed rate loan while interest rates are at their current low levels can ensure you save money. Buying now while rates are still low can also save money compared with delaying the purchase to a future time when rates could be higher. The [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") Board is due to meet in a few weeks and some analysts are predicting a rate rise sooner than the RBA’s 2024 expectations. Interest rates on car loans and motor vehicle finance will vary depending on the lender. While the motor vehicle finance sector is highly competitive, the rates still vary as do the ways lenders will assess loan applications. Business buyers will note that the interest rates on business finance products do vary. Opting for the lower rate finance type can save money but all features and benefits of a loan product should be considered in the context of the business’ objectives. ## Lender Choice A key step is to compare the different interest rates and types of car loans being offered by different lenders. Not every bank and finance company has the identical loan structure. Yes, the majority of loans for private new vehicles will be a Secured Car Loan and follow the standard format. But some may be at a fixed rate and some at a variable rate. Fees and charges will vary as will some of the loan conditions such as term permitted, application criteria and other aspects. Private buyers can refer to our Compare Interest Rates calculator to see the rates and loan types currently offered by a number of lenders. ## Consider the Loan Term The loan term also comes into play when buyers are looking to save money on their car loan. A longer loan term results in lower repayments but can mean you are paying more money in total when interest is factored in. Buyers need to decide if lower repayments or a lower overall cost is their priority. Some lenders will have a say in how many years a loan will be approved for. Loan applicants don’t always get what they want but our Jade Car Loans consultants negotiate hard on behalf of our customers to achieve the best outcome. Use our calculators to see how varying the loan term varies the repayments and the overall cost of a loan. ## Deposit or no deposit? Obviously the amount requested for the loan will be pivotal to what the car loan will cost. Jade offers no deposit car loans to approved applicants and this means that the entire purchase price of the car can be included in the loan. This is subject to lender approval and the age, condition and price of the vehicle will be considered, especially with used vehicles. The quandary for those looking to save money on their car loan might be – will they take advantage of a low interest rate car loan now and borrow 100% of the car price? Or, should they save money on the overall cost of the loan by using part of their savings to pay a deposit on the car? Paying a deposit to the dealer/seller will reduce the amount required for the car loan which will flow on to reducing the total amount of interest payable over the full term of the loan. Thus saving money in the long term. This is a personal decision and may be dependent on what other purposes those ‘savings’ can be used for in the future. Loan applicants might wish to discuss these issues with their financial advisor prior to applying for a car loan. As a broker-style lender, it is not the role of your Jade Car Loans consultant to advise our customers on personal financial objectives. Our role is to source, negotiate and structure the cheapest car loan. ## Attend to Your Credit Rating Lenders will assess an applicant’s credit rating when forming an offer for a car loan, including [car loans for business](/business-car-finance "Rev Up Your New Venture with a Business Auto Loan Tailored for Startups"). The better the credit rating, typically, the lower the interest rate achievable. That means a saving. Reviewing your credit score and profile prior to making an application is a sensible step towards saving money on a car loan. Address any issues by correcting errors as per the advice on [MoneySmart](https://moneysmart.gov.au/ "Explore Financial Wisdom on MoneySmart"). ## Assistance to Save You Money Jade Car Loans provides an expert and comprehensive service to assist car buyers to save money on their car loan. With our expertise, resources, and vast lender accreditations, we have the capabilities to source customers the cheapest car loan available, including [low doc car loans](/low-docs-car-loans-for-business-vehicles). Saving money on interest rates and on the total cost of the loan. Both business vehicle buyers and private car buyers are welcome to utilise our services to ensure they secure a car loan which meets their budget and saves them money. **To discuss how we can assist you to save money on your car loan, contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Avoid Car Loan Interest Rates Rises](https://www.jadecarloans.com.au/blog/avoid-car-loan-interest-rates-rises) **Published:** January 18, 2022 **Author:** Publisher **Content:** Apart from the loan amount itself, the interest charged by a lender on a car loan is the largest component. The interest rate in conjunction with the term of the loan and of course the loan amount determines the total interest chargeable on a loan. With calls from some analysts for the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") to lift rates, savvy buyers will no doubt be looking for ways to avoid car loan interest rates rises. It is widely known that interest rates have been at historic low levels for some time. Specifically, the official cash rate as set by the Reserve Bank of Australia (RBA) has been ‘on hold’ at 0.1% since November 2020. The RBA Board cut the cash rate several times in 2020 as a response to stimulate the economy due to the economic effects of the coronavirus pandemic. The cash rate is the basis from which banks and lenders set their own interest rates for both savings accounts and for loans. So with the rates currently at historic lows and the RBA unlikely to cut that rate further, the only way for interest rates from here on is to stay on hold or go up. The next meeting of the RBA to discuss monetary policy and the cash rate is 1 February 2022. For buyers looking to purchase new vehicles, securing a fixed interest rate finance while rates are low is a smart way to avoid car loan interest rates rises. ## Car Loan Interest Rates Interest rates on loans and finance can be at a variable rate or at a fixed rate. This can be dependent on a number of factors including the type of loan, the lender, the type and condition of the goods and the lender’s assessment of the loan application. Most of the discussion around the cash rate scenario does centre on the home loan market. But interest rates on home loans, both the rate and how they are applied, differ from interest rates on motor vehicle finance. If a home buyer secures a fixed rate mortgage, the time for which the rate is actually at that fixed rate may only be a few years of the total mortgage term. With motor vehicle finance the scenario is different. When a fixed interest rates is applied to a car loan, that rate is in place for the entire term of the loan. [Loans for business motor vehicles](/business-car-finance "Discover Financing Options for Commercial Vehicles in Your Business Fleet") are available at both fixed rates and variable rates. A variable rate implies that the interest charged on the loan may increase or decrease depending on what happens with the cash rate and lending interest rates in general Secured loans, both for personal car buyers and business purchases, are usually at a fixed interest rate. This includes for Secured Car Loan, [sole trader car financing](/car-chattel-mortgage "Drive Your Sole Proprietorship Forward with Tailored Car Financing Solutions"), Lease and [Hire Purchasing Cars](/commercial-hire-purchase "Explore Vehicle Hire Purchase Options Here"). Jade Car Loans also offers Unsecured Personal Loans which can be used for the purchase of motor vehicles. Unsecured loans may have a fixed or a variable interest rate. Unsecured loans are typically sought when a lender does not accept the vehicle being purchased as suitable security for loan. This would be determined by the age and condition of the vehicle and possibly the loan amount being requested. So buyers looking to avoid having the interest rate on their car loan increased over the loan term, will be wanting a car loan with a fixed interest rate. ## Advantages of Fixed Interest Rate Car Finance Securing a fixed [business car financing interest rate](/car-finance-interest-rates "Unlock Competitive Interest Rates for Your Business Auto Financing") on a car loan is effectively locking-in that rate for the loan. When rates are low as they are currently, that can be a smart move. The advantages of locking-in your car loan at a fixed rate are significant and include:- - The fixed rate provides businesses and individuals with the confidence that their loan repayments won’t change over the loan term. The fixed loan terms in conjunction with the fixed interest rate, calculate out to a fixed repayment each month. The fixed rate ensures that repayment won’t change over the 4, 5, 6 or so years of the finance term. - Having a fixed outgoing each month allows individuals and households to plan their budget over the years of the loan. - Businesses can work cash flow around the fixed motor vehicle repayments and plan other equipment investments and business spending accordingly. - When the RBA does lift the cash rate, which is highly likely by 2024, a car loan which has been secured at a fixed interest rate prior to any increase, will not change. - The total interest charged on the loan over the loan term remains constant with fixed interest rate loans. So for buyers looking to avoid fluctuations in their car loan repayments over time, securing finance at a fixed rate will be a priority. For those looking to get in while rates are low, securing that car loan while rates are at historic lows, is even smarter. Jade Car Loans offers cheap interest rate motor vehicle finance at fixed rates across our loans to allow our customers the benefit of avoiding the impact and additional cost of interest rate rises over their loan term. **Contact Jade Car Loans 1300 000 003 to discuss a fixed rate car loan to avoid interest rate rises over the loan term.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Keeping Supply Chains Open: Cost-effective Delivery Van Loans](https://www.jadecarloans.com.au/blog/keeping-supply-chains-open-cost-effective-delivery-van-loans) **Published:** January 23, 2022 **Author:** Publisher **Content:** One of the biggest headaches from Omicron for businesses at the moment is overcoming the supply chain issue. With many people off work with COVID-19, staff shortages are causing problems at many stages along the chain of supply. For SMEs that are facing issues with their transport operators or couriers there may be a solution. If you’re seeking a more efficient way to get goods into the hands of their customers or to pick-up your own supplies, buying a van to operate your own delivery service could be a viable option. Accessing cheap and workable delivery van loans can be key to a business operating its own cost-effective, profitable and efficient delivery and pick-up service. Businesses in many sectors have pivoted to self-delivery services during the pandemic and the current supply situation has further highlighted the importance of having a reliable way to get goods to market. If you’re considering this option, there is a selection of business finance products and specialist loan services that may make operating your own delivery van a highly profitable decision. ## Selecting a Delivery Van There is a great selection of delivery vans on the market with quite a large price range. Buyers will be considering a number of aspects when making that decision including:- - Size: the size, shape and quantity of goods and packages to be delivered will be a key determinant. Look not just at capacity but access. Some vans offer both side and rear access. - Ensure the design of the cargo space suits your needs. Height of the deck for easy loading and unloading is important as can be a totally flat cargo area – check where wheel arches are located! - Driver licence conditions should be considered. Some vans require only a standard licence while others will need a higher level licence. Who is going to operate the vehicle? If business owners plan to step-in when required to do deliveries, they must have licence and skill to operate the vehicle. - Accessibility: The delivery locations and environments are important. Is parking available? Can the van easily negotiated tight inner-city streets and lanes? - Fuel efficiency: Cost of fuel will be an important cost element. Deciding between petrol, diesel or electric is a big factor. EVs are fuel-efficient but still usually come with a higher price tag. - Price: The ticket price will be important but possibly more relevant will be the loan repayments. We can assist with cheap van loans which are individually negotiated and structured to best meet customer repayment expectations. Some of the more popular vans currently on the market include the models from [LDV](https://www.ldvautomotive.com.au/) which are well-priced in the lower range: the Mercedes-Benz Sprinter; sales topping [Toyota HiAce](https://www.toyota.com.au/hiace); VW Transporter and its smaller Caddy; the stylish Renault Kangoo; the iconic Ford Transit; and one that is receiving a lot of current attention, the Hyundai Staria. ## Delivery Van Finance Options In order to be cost-effective and work with the business cash flow, the van loan needs to be cheap which essentially requires a cheap interest rate plus the actual structure of the loan must meet the objectives of the business. Even before selecting a van to deliver goods, business operators can be considering which loan type is best suited to deliver the goods for their business. There are a number of different [commercial finance products](/business-car-finance "Explore a Variety of Financial Solutions for Your Commercial Needs"), each with varying features and benefits. The selection of van finance products includes:- - [ABN car loans](/abn-car-loan "Secure Auto Financing with ABN Registration") - Lease - Hire Purchase The differences include suitability to accounting methods; balance sheet approach; when a tax deduction is made; and treatment of GST. The interest rates also vary. While your Jade Car Loans consultant will be working to achieve the best offer for your van loan, it is strongly recommended that operators refer to their own accountant in regard to loan selection. ## Investment Incentives The cost-effectiveness of a delivery van loan can be further enhanced by utilising the investment incentive measures currently available to eligible businesses for eligible acquisitions. Temporary full expensing, which essentially replaced Instant Asset Write-off, has been extremely popular and offers significant tax deductions. Chattel Mortgage is considered the loan type most suitable for businesses looking to take advantage of the measure. ## New and Small Business Van Finance Many small and newly-started businesses are likely to be interested in purchasing a van in order to be self-sufficient in regard to picking up their supplies and materials and delivering their products and goods directly to customers. Owning their own van to have greater control over their supply chain. But new and relatively new businesses can face obstacles when applying for finance. To assist these operators, we offer specialist lender services with our Low Docs and [No Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Streamlined Car Financing with No Documentation Requirements"). These categories are for businesses that do not have all the financial records and documentation that are typically required to complete the loan application. If considering taking control of the supply chain for your business, at least to some degree, through the purchase of a delivery van, contact us to discuss how we can assist with cost-effective van finance. **For a quote on a delivery van loan, contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Why Chattel Mortgage is such a popular form of business vehicle finance](https://www.jadecarloans.com.au/blog/why-chattel-mortgage-is-such-a-popular-form-of-business-vehicle-finance) **Published:** January 23, 2022 **Author:** Publisher **Content:** When purchasing new vehicles, buyers have a choice of several forms of business vehicle finance from which to select. So it’s not surprising that one of the most commonly asked questions of vehicle finance lenders is what is the most popular type of loan? Businesses are often interested in what other buyers are doing in order to make their own decision around which finance product to select for their purchase. As a broker-style lender, it is not the role of Jade Car Loans to advise business owners on loan choice. That is the role of the accountant or financial advisor as they are across the individual financial goals and accounting practices of the business. But we are across all aspects of motor vehicle finance and can advise the details of the loans available and source the cheapest offer. The types of loans available for business vehicle purchases are Vehicle Lease, Hire Purchase or Commercial Hire Purchase and Chattel Mortgage. Of these three options, Chattel Mortgage, also referred to as [sole trader car financing](/car-chattel-mortgage "Sole Trader Car Financing: Empowering Your Business Mobility"), is by far, currently, the most widely-used loan type. Chattel Mortgage is a popular business vehicle finance due partly to the interest rate, secured loan format and accelerated current asset depreciation measures. It is also due to the suitability of this type of finance for the cash accounting method. Many businesses in Australia use the cash method rather than the accruals methods. ## Chattel Mortgage Specifics Chattel Mortgage has quite a straightforward loan format – chattel refers to the goods and mortgage means loan. Some banks and lenders may refer to this simply as Business Vehicle Loan or Equipment Loan. It is a secured loan format which most people will be familiar. The vehicle being purchase is used as security against the loan and for most buyers, no other guarantee is required to secure a Chattel Mortgage. The buyer takes ownership and possession of the vehicle from the point of purchase/finalisation of the finance contract and is responsible for all maintenance, insurance, registration and ongoing running expenses. Jade Car Loans arranges Chattel Mortgage with a fixed interest rate and over a fixed finance term to result in a fixed repayment. A balloon can be included as an option. This is a percentage of the purchase price which is held over for payment at the conclusion of the loan term. Varying the size of the balloon can assist buyers to achieve their target monthly repayment, subject to lender approval. ## Lowest Interest Rates an Attractive Prospect Due to the structure as a secured loan, the interest rate on Chattel Mortgage car finance is lower than the other popular loan type, Leasing. This interest rate is sure to be an aspect which attracts buyers to this form of finance. But the full compilation of features and benefits of each loan type should be considered by buyers in the context of their own business goals. To calculate repayment estimates on the vehicle you are considering with a Chattel Mortgage, use our [easy business car loan calculator](/car-finance-calculator "Effortlessly Calculate Your Business Auto Loan with our User-Friendly Tool"). ## Tax Deduction Benefits With Chattel Mortgage the GST on the purchase of the vehicle is claimed on the next BAS return, for businesses that are registered for GST. If a business faces a significant monthly, quarterly or annual BAS payment, having the full amount of GST on a new vehicle may be very handy to reduce that commitment. GST is not applied to the interest on the loan. Unlike Lease where the repayments are a tax deduction, the full amount of the Chattel Mortgage monthly repayment is not tax-deductible. The interest portion is, but not the remaining part of the payment. The main tax benefit of Chattel Mortgage is realised through the depreciation of the vehicle as a business asset. In taking possession and ownership of the vehicle, it is posted as an asset/liability into the balance sheet of the business. Assets are depreciated annually in line with tax schedules. Depreciation schedules are set to a specific percentage of the value of the asset per annum. The depreciation amount is entered as a business deduction when the business accountant produces the annual accounts and tax return. ## Current Accelerated Asset Depreciation Measures Even more buyers have been drawn to Chattel Mortgage since the introduction of the accelerated asset depreciation measures by the Federal Government. First it was Instant Asset Write-off and then the updated/amended version – [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn More About Immediate Asset Deductions for Businesses"). For eligible businesses and eligible assets, this measure allows for the full purchase price of new assets to be fully depreciated and tax deduction realised in the same year as purchase. So instead of having to wait several years to realise the tax deduction through incremental depreciation, the entire purchase price may be deducted in the one year. This measure is available through to June 2023 and has become a very popular incentive for businesses to upgrade their vehicles. ## Suitability to Many Vehicles and Businesses Chattel Mortgage is a flexible form of finance which suits all types of business vehicles and many different types of businesses. SMEs, large operations, partnerships, owner-operators and sole traders can all apply for Chattel Mortgage to purchase their business vehicles. If Chattel Mortgage is your choice of loan type, contact us for a cheap interest rate quote to ensure the vehicle purchase is affordable, cost-effective and will work for your operation. **Contact Jade Car Loans on 1300 000 003 for a Chattel Mortgage quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What is the sacrifice with Novated Car Lease?](https://www.jadecarloans.com.au/blog/what-is-the-sacrifice-with-novated-car-lease) **Published:** January 30, 2022 **Author:** Publisher **Content:** Amongst the range of business car finance products available, Novated Car Lease with Salary Sacrificing is possibly one of the least understood. It could be the use of the term ‘sacrifice’ that puts many off from even investigating this type of finance. To clear up any misunderstandings we clarify exactly what is sacrificed and how [Novated Car Lease](/novated-car-leasing-and-salary-sacrificing "Discover the Advantages of Employee Novated Vehicle Leasing") can present attractive tax and other benefits. When purchasing vehicles for use in their business, business owners have a number of finance products from which to choose to finance the vehicle. These include Lease, Chattel Mortgage and Commercial Hire Purchase. These are suited when the business is acquiring the vehicles as sole owner and will own and operate the vehicles themselves. But when the business provides a vehicle for use by an employee, there are options in how the vehicle can be financed. If the business is simply providing the employee with a ‘company car’ then the business typically purchases and owns the vehicle and the employee has use of the vehicle when carrying out their job. The employer and employee usually come to an arrangement around private use of the vehicle. When the employee leaves that company, they hand back the keys of the car to the company. This type of arrangement can attract [Fringe Benefits Tax](https://www.ato.gov.au/General/fringe-benefits-tax-(fbt)/ "Explore Insights on Taxation for Employee Benefits") (FBT). Novated Car Lease with Salary Sacrifice is a form of finance for purchasing vehicles where employer and employee are both involved. The key difference between a company car and a vehicle purchased with Novated Car Lease is that the employee is paying towards the purchase of the vehicle and can end up owning the vehicle. ## Novated Car Lease Features and Benefits A Novated Car Lease with Salary Sacrifice is a multi-person decision as this is a 3-way finance arrangements with the lender, the employer and the employee all involved. The idea may be initiated by the employee and presented to the employer or the employer may offer it to the employee as part of their salary package. With the current issues around labour shortages in some industries, this could be utilised by companies as an incentive to attract talent. - The lease on the vehicle is novated or transferred from employee to employer. - The employer meets the monthly lease payments and typically will cover the ongoing running costs of the vehicle. - The employer receives the tax benefits associated with leasing a vehicle. With motor vehicle leasing that includes the monthly lease payments being tax deductible and claiming the GST on those payments. GST is not charged on the interest portion of the repayments. So that’s what’s in the deal for the company, what’s in it for the employee you ask? ## The Sacrifice The employee benefits from a Novated Car Lease in a number of ways but they must decide to sacrifice a portion of their salary. While described as a ‘sacrifice’ it could be seen less as a loss and more of a foregoing. The employee decides to sacrifice or forego a portion of their salary to go towards the vehicle payments. The employer deducts that money from the weekly or monthly wages of the employee and uses that money to meet the car repayments and expenses. The tax benefit for the employee lies in the fact that the salary deducted or sacrificed is done on pre-tax income. So the employee has a lower taxable income. Depending on the amount of the sacrifice which is dependent on the price of the vehicle and leasing deal, the scenario may place the employee in a lower tax bracket. The other benefit for the employee is that they can end up owning the motor vehicle when all the payments including any residual amount are finalised. So they sacrifice the cash wages in order to pay less tax and end up with a motor vehicle. For employees considering whether or not this could be a suitable way for them to acquire a motor vehicle there is the element of interest rates on car loans to factor in. The interest rates offered on business vehicle finance are typically lower than for personal secured car loans. So the loan repayments on a Novated Car Lease would typically be lower than repayments on a secured car loan. So the employee could actually be paying less to buy their car. To see how this may play out for the vehicle you are considering, use our [Business Car Finance Calculator](/car-finance-calculator "Utilise Our Business Auto Finance Calculator for Precise Estimates"). Of course there are other matters for employees to consider, especially how long they intend to stay with that company. Lease terms can be say 5-6 years. If the employee decides to leave that job and company before the car lease is finalised, they will need to make arrangements with the employer and lender to finalise the finance in order to take full ownership of the vehicle. Compared with being offered a company car which can often come with a dip in salary being offered, the salary sacrifice of a Novated Car Lease can be quite an attractive option. In addition, the employee gets the chance to select the vehicle that they want. A choice which is not usually available with company cars. ## Sourcing Novated Car Lease As we noted above, Novated Car Lease involves lender, employer, and employee which may sound like something which could complicate the finance process. But there is no need to worry about that. Once the agreement between employee and employer is in place, your Jade Car Loans consultant will handle the entire process for you, including assisting with [no doc car loans Australia](/no-docs-car-loans-for-business-vehicles "Utilise Our Business Auto Finance Calculator for Precise Estimates"). Sourcing quotes, assisting with applications, liaising with the lender, and assisting with the settlement phase. While Novated Car Lease with Salary Sacrifice may not suit all businesses and all employees, for some it is a very attractive proposition. **To discuss the details and possibilities of a Novated Car Lease with Salary Sacrifice contact Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Why it could be smart to buy a new car with motor vehicle finance sooner rather than later](https://www.jadecarloans.com.au/blog/why-it-could-be-smart-to-buy-a-new-car-with-motor-vehicle-finance-sooner-rather-than-later) **Published:** January 30, 2022 **Author:** Publisher **Content:** As we enter the third year of the COVID-19 pandemic in Australia, many will be reflecting on the experiences of the past two years when facing major purchasing decisions. In particular in deciding whether or not to purchase a new car with motor vehicle finance at this time. Businesses in particular have faced major disruptions and changed trading conditions due to the impacts of the pandemic. Some run off their feet while others have been forced to close or reduce operating capacity of trading hours. Many businesses will be wondering what 2022 and beyond may hold for them and whether or not they should proceed with new vehicle purchases at this time or just hold tight until the situation becomes more certain. Individuals planning to buy a new car soon may also be weighing up their personal circumstances against the backdrop of the past few years. While many contemplate, deliberate and procrastinate, there are a lot of solid reasons why it could be smart to make the move to purchase a new car with motor vehicle finance sooner rather than later. At Jade Car Loans we stay across a range of issues which effect the motor vehicle market as well as the finance sector and we present our reasoning around why now could be the time to buy. ## Motor Vehicle Finance Interest Rates When it comes to personal or business finance don’t let complacency creep into your decision-making. Lending rates have been at historic low levels since the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") cut the cash rate to 0.1% in November 2020. But what goes down will eventually go up. The RBA has consistently put a 2024 possibly 2023 timeframe on any rise in the cash rate. Though Governor Philip Lowe has said it is more around the conditions being right rather than an actual time or date. Recently those indicators have started to move. Inflation increased in the December quarter and unemployment is continuing to fall. Both are key indicators for RBA to increase interest rates. The target for inflation is 2-3% sustained and unemployment around or below 4%. But some analysts are tipping a rate rise sooner than 2024, some saying it could even come this year. When the RBA moves and increases or decreases the cash rate, it has a flow-on effect across the lending market. The amount that lenders will change their own rates when the cash rate changes will depend on the individual lender circumstances. But those considering car finance should be aware that even a very small change can add up over the loan term. When the interest rate on a specific loan increases by even a small percentage point that can calculate through to a significant addition to the total cost of the loan. This is one of the key reasons why at Jade Car Loans, we focus on achieving cheaper interest rates at all times. To see exactly what we mean, use our [Car Loan Calculators for businesses](/car-finance-calculator "Calculate Commercial Vehicle Financing"). Leave all data constant but change the interest rate by small increments and see how that affects the repayment estimate displayed. So securing motor vehicle finance now or shortly, while rates are low, makes sense. ## Securing Vehicles Now Delays in new vehicle availability is tipped to continue for some makes and models into next year. The microprocessor shortage is continuing to impact vehicle manufacturers globally. In addition, many factories are reportedly facing disruptions due to staff shortages as a result of the pandemic. It is now widely reported that the pandemic will continue to impact globally until a greater percentage of the population is vaccinated. Many countries do not have the same high vaccination rates as Australia. Some manufacturers have been launching new models and new stock into the market but there are still reports of buyers being advised of months in delay to take delivery. Wait a few months and that delay could cost more in finance IF the RBA does make a move on rates. ## Buying Considerations Another key consideration to purchase a new car sooner rather than later is availability with delays tipped to continue. Buying a new car, consider availability as a priority rather than the preferred vehicle. Dealers love advertising ‘driveaway’ pricing but the bigger issue could be what can buyers actually drive away in today? This could be the time to be more open-minded to other makes and models rather than fixating on a favourite car. If you plan to wait until the new vehicle you want is in stock, interest rates may have gone up. With new cars harder to secure, many have been turning to the used car market over the past two years. That spike in demand has caused a surge in prices for many second-hand vehicles. While there are many good quality second hand vehicles on the market, paying too high a price can never be a good thing. The real hit may not be realised until resale time. Insurance on a used vehicle can be higher than for a new vehicle. [Business car financing rates](/car-finance-interest-rates "Check Out Competitive Interest Rates for Commercial Vehicle Financing") and loan conditions on [used business car finance](/used-car-finance "Explore Financing Solutions for Pre-Owned Business Vehicles") can differ from that offered on brand new vehicles. A higher rate may be charged which could add to the cost of the loan in total. So buying used because new is not available, may not, in all circumstances, be a cost-effective decision. ## Investment Incentives For business buyers there is also [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Get the Scoop on Immediate Asset Write-Offs for Businesses") to keep in mind. While it is on offer until June 2023, if you would like to claim the tax deduction in this financial year, moving on your vehicle purchasing plans soon, could be a smart idea. With all these issues in play, moving sooner rather than later on car purchase and finance plans may deliver handy savings. To discuss the motor vehicle finance options available to you, speak with one of our consultants. **Contact Jade Car Loans on 1300 000 003 for a Chattel Mortgage quote.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Patience Shown with RBA Interest Rates Decision](https://www.jadecarloans.com.au/blog/patience-shown-with-rba-interest-rates-decision) **Published:** February 7, 2022 **Author:** Publisher **Content:** The much-anticipated first RBA board meeting for 2022 was held on Tuesday 1 February and as signalled previously, the Board showed patience in regard to the official cash rate. The meeting was highly anticipated as the Board had not met since early December 2020 to make a decision around interest rates and much has happened in the economy over the past few months. There has been a growing call from financial analysts for the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") to lift rates. While a rise at the February meeting was highly unlikely, all eyes were on the statement accompanying the meeting as an indication of the Board’s thinking as many seek a forecast to when a rate rise will occur. The official cash rate has been at the historic 0.1% rate for over a year with our customers enjoying extremely low motor vehicle finance rates. Over the past year the RBA had stated it was not expecting the conditions to be in place to signal a rate rise until 2024. But it is now looking like that a rate rise will come sooner. Governor of the RBA, Dr Philip Lowe, addressed the National Press Club on Wednesday 2 February which provided an opportunity to provide additional information on the RBA’s outlook for the Australian economy. We cover the details from the RBA Statement on Monetary Policy for February to provide an update on the current interest rates situation and what may play out over 2022 so individuals and businesses can plan their vehicle purchases and car finance moves. The RBA’s changes to the official cash rate will flow through to interest rates across many lending sectors including motor vehicle finance. ## RBA February 2022 Statement At the February 2022 meeting, the RBA Board kept the official cash rate steady at 0.1% and ceased its bond buying program as of 10 February. In the statement which officially announces the decisions made at these Board meetings, the Board notes that while the Omicron outbreak had had an effect on the economy, the economic recovery had not been derailed. As the COVID-19 case numbers continue to trend down, the Board expects spending to increase. The support for this expectation is the good position of both business and household balance sheets, the uptick in investment by businesses, the large quantity of work in the pipeline in the construction sector and the supportive settings of macroeconomic policy. However, the Board acknowledges that the pandemic remains a reason for uncertainty. Unemployment has declined to 4.2% as of December figures, indicated a strong recovery in the labour market. While the number of worked hours are expected to show a drop in January figures due to the Omicron outbreak, the high job vacancy numbers suggest there could be additional improvements in employment in coming months. The RBA has forecast that unemployment could fall below 4% later in 2022 and to around 3.75% by the end of next year. While growth in wages has shown a lift, it has only reached the relatively low levels which existed prior to the pandemic. As the labour market continues to tighten, a further gradual increase in wages growth could be expected. The Board noted that inflation had increased more quickly than it had expected. Uncertainty remains around disruption to the supply chains and how that will impact prices. The statement concludes with the Board committing to maintain the supportive monetary conditions in order to achieve the objective of full employment and an inflation rate which is consistent with its targets. The Board repeated its previous comments that it would not lift the official cash rate until such time as the actual rate of inflation is sustained in the 2-3% range. It notes that while there had been a pick-up in inflation, it was too soon to conclude that this indicated a sustainable rate in the target zone. Also in line with previous statements, the Board concludes with the comment that it is prepared to be patient! ## Additional Comments The day after the Board meeting, RBA Governor Philip Lowe made a keynote address at the National Press Club and reiterate the preparedness of the RBA Board to show patience in regard to interest rates. He said that the country was ‘within reach’ of the historic milestone of 3.75% unemployment by the end of 2022. That would be the lowest unemployment rate in 50 years. The Prime Minister, Scott Morrison, also commented that the country has a ‘once in a lifetime opportunity’ to achieve a milestone unemployment rate. ## Impact on Motor Vehicle Interest Rates The general view from analysts is that the RBA will likely lift the official cash rate later this year, with August mentioned as a possible timeframe. A specific date has not been mentioned by the RBA as they show patience and focus on the inflation and unemployment figures not the calendar. Our customers with current [fixed car loan interest rates](/car-finance-interest-rates "Discover Tailored Financing Options for Your Business Fleet") will not be impacted by any changes in interest rates during the term of their finance. Jade Car Loans is of course committed to maintaining our own policy of better interest rates across our [motor vehicle business finance](/overview-of-business-car-finance "Discover Tailored Financing Options for Your Business Fleet") portfolio. However, should the RBA lift the cash rate, our lenders will likely make adjustments to their rates which then flow through to what our customers can achieve. If considering a new vehicle purchase with finance, acting sooner rather than putting off the move could result in securing a loan at the current historic low rates. **To discuss cheap interest rate motor vehicle finance contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Jan Car Sales Figures: Best Selling Cars](https://www.jadecarloans.com.au/blog/jan-car-sales-figures-best-selling-cars) **Published:** February 7, 2022 **Author:** Publisher **Content:** Buyers in the market for a new car at the moment have a number of factors to take into account when coming to the final decision on make and model and when to buy. The supply issue in the new car market is impacting delivery times but interest rates are currently low but tipped to increase possibly later this year. So for many, the race is on to find a vehicle that is available for immediate delivery and meets their criteria so they can finalise a cheap interest rate car loan. Checking out the monthly figures to see the best selling cars makes and models can assist buyers narrow down their list of possibilities. While it should be noted that ‘best sellers’ may not be the best cars as judged by experts in annual awards and on other criteria, the figures can give an indication as to what is currently popular with buyers and more importantly what is available. This week the [Federal Chamber of Automotive Industries](https://www.fcai.com.au/news "Link to the Official Website of the Federal Chamber of Automotive Industries") (FCAI) released the data for January 2022 for new vehicle sales. The best selling cars may give car buyers a heads-up to what vehicles are available so they can move quickly and secure their purchase while car finance rates are still low. ## Car Sales Monthly Figures Overall the January 2022 car sales figures show a 4.8% drop on the sales for January 2021. It is customary for car sales data to be compared with the same month in the previous year. While this can provide information for dealers as to how the market is trending, with the current and recent supply issues, drawing comparisons month on month or in any way can be problematic. As noted by FCAI Chief Executive, Tony Weber, the computer chip shortage and the supply chain issues due to COVID-19 continue to impact motor vehicle markets both locally and globally. However, he also notes that despite these issues, the level of buyer interest remains extremely strong. Comparing January 2022:January 2021 on a state by state basis, NSW is down just under 10%, Victoria down only 1.6%, Queensland only 1.3%, WA 7.8%, SA 2.2%, ACT 9.7%, NT 13% with Tasmania the only jurisdiction to post an increase, 15.4% up on the same monthly figures last year. ## Monthly Market Leaders The real nitty gritty of interest to buyers is always the best selling makes and models. It can reflect long-term rivalries such as previously between the General and the Blue Oval and more recently between the iconic HiLux and Ranger utes. But in the current climate of supply issues, drawing conclusions on popularity of a make or model based purely on one month’s sales figures can be naïve. The supply and available must be also taken into account. Despite all the issues and impacts, it was [Toyota](https://www.toyota.com.au/ "Visit the Toyota Official Website") that emerged as market leader for the month, followed by Mazda and Mitsubishi making up the podium. Next came Kia and Hyundai rounded out the top 5. The figures are for all categories of new vehicles – passenger cars and work vehicles combined. The sales figure battle between HiLux and Ranger raged through the latter part of 2021 with the Ford tipping the Toyota off the top of the podium in a number of months. But as we start 2022, the January sales figures reveal that in the sales battle of the cab chassis utes, the Toyota HiLux has regained top spot over the Ford Ranger. In third position was the Mazda CX-5 which was a very popular vehicle in both sales and awards in 2021. The Mitsubishi Triton came fourth and Toyota’s Prado fifth. According to reports, the Triton put up a good showing due to overcoming some supply issues. The D-MAX, BT-50 and Navara also posted good results. With their highly competitive price point, utes from GWM and LDV continue to post increasing sales figures. The continuing good results for work vehicles is also likely to be due to the attractive tax deductions on offer through temporary full expensing. An accelerated asset depreciation measure introduced to stimulate the economy through the pandemic period. It’s still in place until June 2023 but if you want to see the benefits this financial year, you’ll need to have your vehicle in operation in the business before EOFY. Talk to us about Chattel Mortgage for your purchase. In the passenger car market, the MG3 was tops in the light category followed by the Mazda 2 and Kia Rio. In the small car category the best sellers were Hyundai i30, Toyota Corolla and Mazda3. In the medium category – Toyota Camry was tops and in the compact SUV class it was the Mazda CX-3. ## Finance for a Best Seller Before heading to a dealership to test drive a best-seller, consider pre-arranging your [ABN car finance](/abn-car-loan "ABN Car Loans: Get Financing for Your Business Vehicle") so you are ready to commit on the spot. With supply an issue with some models, being able to sign a sales contract immediately may be the difference between driving away in days or facing months of delays. Jade Car Loans offers pre-approved loans across our motor vehicle finance portfolio – both personal and [business car loans](/business-car-finance "commercial car finance"). The cheap interest rates are the same as are all the loan features, benefits and any loan conditions. **To be ready to sign a deal for a best-selling vehicle, talk with Jade Car Loans 1300 000 003 about pre-approved finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Differences with Car Loans](https://www.jadecarloans.com.au/blog/differences-with-car-loans) **Published:** February 14, 2022 **Author:** Publisher **Content:** When selecting a new car, buyers can easily see the differences between the vehicles they are considering. The different modifications and variations across model ranges and between similar vehicles from different manufacturers are very obvious. It’s easy for potential buyers to weigh up the pros and cons when making a buying decision. But when it comes to their motor vehicle finance, the differences between car loans may not be so easily identified. Common queries from buyers can include: Are there differences between loans for different types of cars? Are all secured car loans the same? Why are there differences in the interest rates? What are the differences between business car finance products? Having a good knowledge and understanding of the differences in car loans can be of great assistance to buyers in achieving the cheapest and most suitable motor vehicle finance. There can be several years between the need to buy a new car and source finance and there may be developments in the finance sector since you last applied for a car loan. As specialists in motor vehicle finance, we take on some of the common questions – from the most simple to the more complex, to provide confidence, direction and assurance to buyers seeking a car loan. ## Different Types of Vehicles Probably one of the most obvious questions is whether or not different types and sizes of cars attract differences in the loan. Answer: yes and no. No, in regard to the type loan. Yes in regard to new versus used cars. No in regard to the size of vehicle. - The same [business car financing](/overview-of-business-car-finance "Explore Customised Solutions for Commercial Vehicle Financing") products can apply to all types of cars – sports, sedans, hatches, SUVs, luxury, basic. While it may seem that the more luxurious the vehicle and the higher the price tag the more expensive the finance, that is not the case. The same loans and interest rates can apply regardless of the car specifics. But the insurance may differ. - The [business car loan interest rates](/car-finance-interest-rates "Discover Competitive Interest Rates for Commercial Auto Loans") offered and loan conditions can be different for new car finance compared with used car loans. The age and the condition of a vehicle is taken into consideration by lenders when assessing used car loan applications. Unless they specify otherwise, interest rates and loan specifics advertised and advised by banks and lenders will relate to new vehicle purchases. - The size of the car – engine capacity and/or overall length, does not by definition affect the loan. ## Differences between Lenders Now for a more complex area of differences in car finance – the lender market. Yes, there are variations in the loans offered by different lenders. The motor vehicle finance sector encompasses banks, finance companies, dealers, manufacturers and finance brokers like Jade Car Loans. Each lender will price their loans based on their own individual costs, their interest in being competitive in the sector and other factors. One of the most obvious differences is in regard to the interest rates offered by different lenders. The [RBA](https://www.rba.gov.au/ "Link to the Reserve Bank of Australia (RBA) Official Website"") sets the official cash rate from which most lenders then build-in their costs and risk factors to arrive at the interest rate they are prepared to offer on their loan portfolio. As these individual impacts vary so will the interest rates. Differences will also exist between fees and charges applied across the motor vehicle lending sector. Analysing exactly these differences can require sourcing detailed quotes. A process which can be time-consuming but worthwhile. The shortcut to achieving the same result without the time and effort is to use a finance broker lender like Jade. One of our primary roles is to assist customers by cutting through the confusion and differences and source the cheapest car loan. We achieve that through our multiple accreditations and professional expertise. ## Private Car Loans v Business Vehicle Finance Major differences exist between loans for cars purchased for personal/private and finance for vehicles to be used in a business. The interest rate is always cheaper for business finance based on the perceived reduced risk. To be eligible for business finance, loan applicants must meet the criteria which includes having an ABN and that the vehicle will be used primarily in the business. ## Personal Car Loan Options For new cars, the most popular loan type is the [Secured business Car Loan](/secured-car-loans "Explore Secure Financing Options for Your Business Vehicle"). This type of loan is offered by most lenders but the interest rate value and type may vary. Watch for variable versus fixed interest rate loans, differences around minimum and maximum loan amounts and terms. ## Business Finance Options Businesses can select from a number of finance products including:- - Vehicle Lease - Chattel Mortgage - Commercial Hire Purchase The differences between these products include:- - Interest rate - Treatment of GST - Suitability to accounting methods - Tax deductions - Balance sheet entry - Ownership of the vehicle during the finance term To determine which business vehicle finance product will achieve the optimum outcome for a business, we strongly encourage buyers to speak with their accountant. ## Making the Loan Decision Reviewing these differences to arrive at the best loan can be worthwhile as it can mean a difference in repayments and the overall cost of the loan. Jumping into what may appear a quick and convenient option such as dealer finance, may not end up being the cheapest option. The services of Jade Car Loans are available to both individuals and businesses for the purchase of all types of cars. So if you don’t feel 100% confident in sourcing the cheapest car loan, you don’t want to spend the time needed or you are just astute – brief one of our consultants and allow us to source you the cheapest car finance. **To source the cheapest motor vehicle finance contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Vehicle availability & beating interest rate rises complicate buying decisions](https://www.jadecarloans.com.au/blog/vehicle-availability-beating-interest-rate-rises-complicate-buying-decisions) **Published:** February 14, 2022 **Author:** Publisher **Content:** Buying a new car can be a complicated process under normal conditions. It requires multiple considerations – selecting a vehicle to suit individual purpose, tossing up between competing makes, models and prices, buying new or used, working out affordability and for most, sorting out a car loan. But events on both the global and local scene have further complicated the car buying process for many purchases. The limited availability of certain makes and models on the Australian motor vehicle market and the predicted interest rate rises present new considerations for car buyers. Primarily the consideration around when and what to buy. The famous line from the Kenny Rogers hit, *“know when to hold ‘em, know when to fold ‘em”* seems to capture the essence of the quandary. But purchasing a new vehicle with finance is certainly not a something to be gambled on. Buyers need access to reliable information and professional expert services in order to make fully-informed decisions on financial matters. New car buyers may face the prospect of weighing up the choice of buying whatever car they can source now in the current low interest rate environment against delaying to get the car of their choice which could be at a time when rates may have increased. To assist with these decisions, we elaborate and clarify some of the factors that buyers may consider and still achieve cheap motor finance. ## Delays in Vehicle Availability It’s not just affecting the motor vehicle industry in Australia, the microprocessor shortage is a global problem which is delaying production in multiple manufacturing sectors. A myriad of products require computer chips or their parts do. This shortage emerged as a result of a drought in Taiwan which is a major hub for computer chip manufacturers. Apparently, a lot of water is required in their manufacture. Adding to the woes of car dealers with order books bulging is shipping issues. Many of the biggest vehicle manufacturers including Ford, Volkswagen and Toyota have experienced delays due to the computer chip shortage. Some experts are tipping that delays could persist for another year while some manufacturers have managed to get vehicles to market. From a review of media announcements, it appears that some models may be impacted more than others. For buyers, it’s a matter of do you take the vehicle that the dealer has ready to go even if it is not 100% what you wanted? Or do you put your name on the waiting list for when that ideal vehicle is available to drive-away? While that will be a personal choice the factor of price may influence the decision. There are reports of significant price hikes on some models so the cost of waiting could be significant. The other dollar factor is the change in the economic conditions in Australia which are pointing to a rise in interest rates highly likely during 2022. ## When will interest rates rise? The interest rate is the biggest factor in the overall cost of motor vehicle finance. Achieving the [cheapest commercial car repayment interest rates](/car-finance-interest-rates "Discover the Most Affordable Interest Rates for Business Vehicle Repayments") is a major priority for most buyers and definitely the key focus at Jade Car Loans. As we reported in our coverage of the [RBA](https://www.rba.gov.au/ "Visit the Official Reserve Bank of Australia (RBA) Site") Board February meeting, there are very strong indications that there will be a rise in the official cash rate this year. Not in 2024 as previously indicated by the RBA. When the RBA raises the cash rate, banks and lenders typically respond by raising their own rates in their different lending markets. By how much the RBA will raise rates and by how much some of our car loan lenders will raise rates is not known at this stage. What is looking increasingly certain is that sourcing motor vehicle finance now will be cheaper in terms of interest rates than waiting until later in 2022. Another item to add to the car buying ‘buying beware’ list! ## Calculating the Potential Cost of Postponing To get a better idea of what any increase in the price of the vehicle you want or a rise in interest rates may impact your car loan, use our [commercial Car Finance Calculator](/car-finance-calculator "Access our Business Vehicle Finance Calculator for Precise Estimations"). It allows users to vary the loan amount (which can be the purchase price) as well as the interest rate and other data. Keep the loan amount steady while increasing the interest rate to see possible variations in estimated repayments. Increase the loan amount to cover any possible price hike and interest rate to see the outcome if the purchase is delayed until after rates rise. ## Getting the Cheapest Loan Regardless of Timing It has been over 10 years since interest rates, specifically the official cash rate, were actually increased. So it probably should not come as too much of a surprise that they would have to go up at some stage. After all, the official cash rate is at the lowest it has ever been. There is a way that car buyers can achieve the cheapest vehicle finance available regardless of rate rises or timing and that is by engaging our services to source the car loan. As a finance broker style lender, we are ideally positioned with accreditation with multiple lenders to always source the cheapest loan for our customers. Regardless of what is happening in the financial markets or the motor vehicle markets, we focus solely on negotiating the cheapest interest rate loan. **Talk with Jade Car Loans on 1300 000 003 for how we can source you the cheapest car loan** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Car loan application not approved? Next steps](https://www.jadecarloans.com.au/blog/car-loan-application-not-approved-next-steps) **Published:** February 22, 2022 **Author:** Publisher **Content:** If you’ve applied for a personal car loan or business vehicle finance with a bank or finance company and your application has not been approved, what do you do next? Having a loan application not approved can be gut-wrenching, worrying and if a non-refundable deposit has been put on a car before the finance was secured, it could be costly. With a car loan application not approved there can be a way through to a better outcome and securing that car loan depending on the individual circumstances. The next steps that can be taken will depend on whether it is a consumer/personal loan application or an application for business finance and on the reason why the application was not approved. Typical for an application not to be approved include:- - Past comes back to haunt you: bad or poor credit rating - Haven’t had time to get started! Too young in age for an individual or too soon for a business - It’s not you, it’s the car: lender rejects the vehicle as suitable security against the loan - Their way or it’s not the highway, it’s good bye-way: lender won’t agree to the loan terms and conditions requested or preferred We provide a general overview of what options could be available to overcome these issues and how we work with customers to achieve a workable car loan. The key to success can be using a [car finance broker](/why-jade-car-loans "Connect with an Expert Vehicle Financing Broker") type lender such as Jade Car Loans rather than dealing with the process yourself. As professionals with multiple lenders sources, we have both the expertise and the access to many lenders that are more flexible when it comes to dealing with the more challenging car loan applications. Under their corporate structure and regulatory requirements, most large banks and finance companies have strict lending guidelines which their personnel must adhere to. That’s totally understandable and acceptable as we are accredited with the major banks we respect their position. We also have accreditation with smaller banks, specialist finance companies and non-bank lenders that have more leeway when it comes to negotiating to accommodate difficult loan applications. ## General Poor and Bad Credit Issues For both individuals and businesses that have had an application not approved due to poor credit, the first step can be to check your [credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Link to Your Personal Credit History and Financial Profile"). A free copy can be obtained and the entries studied to see if there are any errors which are causing the poor rating. Information is readily available through [MoneySmart](https://moneysmart.gov.au/ "Explore Financial Insights on the MoneySmart Website") on how you can do this. Also be mindful that loan applications, whether or not they are proceeded with, are recorded by lenders on a credit profile. Multiple applications for the same loan can come across as desperate and reflect poorly on the credit profile. Engaging a finance broker like Jade to source a car loan from across multiple sources does not affect a credit profile in the way that the DIY approach does. If even our consultants are unable to source an acceptable loan offer, those with bad credit ratings may look at taking steps to improve their rating over time and then re-apply at some point in the future. The steps may include making payments on time. ## Assistance for Business Vehicle Buyers The risk assessed with business finance is typically seen as less than the risk for personal consumer finance. As such, businesses that have had an application for car finance rejected, do have a number of possibilities available through Jade Car Loans. - [Poor Credit Car Finance](/car-finance-bad-credit "Discover Specialised Auto Financing for Those with Credit Challenges"): We do have lenders that consider bad credit car finance applications on an individual basis and workable offers can be achieved. A higher interest rate is to be expected and some additional conditions may apply. - No Docs and [Low Doc Motor Vehicle Finance](/low-docs-car-loans-for-business-vehicles "Explore Hassle-Free Auto Financing Solutions with Low Documentation Requirements"): Structured to suit start-ups and businesses that have not had sufficient trading time to amass the financial records to fully complete a loan application. - Used Vehicle Finance: Where an application is rejected based on the vehicle being unsuitable as security for business vehicle finance, our consultants can source quotes for an Unsecured Loan. - Flexible, negotiable terms finance: Where an application is rejected or the applicant has not accepted an offer because the lender would not agree to their preferred terms, dealing with Jade as your broker can be a great step forward. We have lenders that will negotiate and our consultants are experts in this process and we do have extensive bargaining power in the motor vehicle finance sector. ## Steps and Options for Private Car Buyers As broker-style lenders, we do not restrict our services only to business clients. Individuals seeking loans for private vehicles are most welcome. Where an application is not approved we may be in a position to assist. Be mindful that lenders in the consumer finance sector must adhere to the laws as regulated through [ASIC](https://asic.gov.au/ "Link to the Official Australian Securities and Investments Commission (ASIC) Website"). Speak with one of our consultants and we will advise you of the options to suit your individual situation. If it is a bad credit issue, as mentioned above, address your credit profile. - Lenders cannot make a loan offer where it is deemed not suitable to that person as per ASIC rulings. That may refer to affordability based on your income/expenditure etc. You can address your debt and spending levels and to bring them into a more favourable position and then re-apply. - Where the amount requested is the reason for the rejection, consider paying a deposit to reduce the overall amount requested. - If the application is not approved because you’re under the age of 18, consider a guarantor. - Where the age or condition of the car is the reason for the rejected application, we offer Unsecured Personal Loans which may suit your purpose. ## Pre-approved Finance For those considering seeking finance to purchase a new car and they are unsure if their application would be approved, speak with us about pre-approved finance. There are a range of actions that can be taken and options available, including [commercial hire purchase for business cars](/commercial-hire-purchase "Explore Tailored Business Car Financing through Commercial Hire Purchase"), to address the different reasons for a car loan application being rejected. Working with the experts at Jade Car Loans can be an important step towards a workable outcome and achieving your financial goals. **To discuss your car loan options, contact Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Update: Treasury & Lenders on Interest Rate Rise Prospects](https://www.jadecarloans.com.au/blog/update-treasury-lenders-on-interest-rate-rise-prospects) **Published:** February 22, 2022 **Author:** Publisher **Content:** Recently we have posted several articles on interest rates and especially around the increasing likelihood of an interest rate rise this year. Specifically, calls for a rate rise refer to the [Reserve Bank of Australia](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") (RBA) lifting the official cash rate. Our rolling coverage of this topic is intended as an update to inform prospective customers what an interest rate rise could mean to both personal car loans and business vehicle finance. This information can be an incentive for buyers to move quickly on their vehicle purchases and finance to secure their loan in the current low interest rate climate. The conversation around why the RBA should move on rates started in 2021 and was predominantly centred on the need to cool a red hot Australian property market. The RBA stood firm against these calls and held rates steady, reminding all that it was prepared to be patient. But economic conditions have changed over recent months and the conditions for a rate rise look far more likely to be in place much sooner than the RBA’s previous possible timeframe of around 2024. The earlier calls for rate rise were primarily from analysts and finance commentators and experts. But this week several high profile voices have commented on the prospects of a 2022 rate rise. We provide this latest update for your information and planning purposes. ## Recent Comments on Rate Rise The [Commonwealth Bank of Australia](https://www.commbank.com.au/ "Visit the Official Website of the Commonwealth Bank of Australia") (CBA) is one of Australia’s largest lenders, especially in the home mortgage market but also in many other sectors. [Jade Car Loans](/why-jade-car-loans "Link to the Jade Car Loans Website for Auto Financing Solutions") is accredited with the CBA, as we are with all the Big 4 and we include the CBA when sourcing finance for our customers. A media outlet reports that a senior CBA figure expects rates the cash rate to commence being raised by June this year. Some predict it could rise from its current historic low of 0.1% to as much as 1% by year’s end. Typically, the RBA may make changes to the cash rate in increments of 0.05% to say 0.15%. Another prominent voice on interest rates this week was that of Treasury Secretary Dr Steven Kennedy. It is worth noting that Dr Kennedy is also on the board of the RBA. In appearing at a Senate committee hearing in Canberra, Dr Kennedy did not give any comments regarding timing of a rate rise but did say that rate would have to increase in what he described as normalising. ## Latest Economic Figures The economic figures which the RBA considers in regard to rate changes are inflation and unemployment. The January 2022 unemployment figures were released last week and the rate has remained at 4.2%, unchanged from the December figures. This is the lowest level in 13 years and supports statements from the RBA and others that Omicron has not derailed the country’s economic bounce back from Delta. Inflation on the other hand is surging. Regulators and governments face challenges in setting monetary policy and other settings to achieve the optimum balance between inflation and unemployment. Currently the country has the prospect of achieving an extremely low unemployment rate, verging on technical full employment. A prospect which is highly aspired to. Upcoming major economic statements and decisions to watch for include the next RBA Board meeting on the first Tuesday in March and the annual Federal Budget. The Budget is usually brought down in May but due to the anticipated timing of the next Federal election, the Treasurer, Josh Frydenberg will deliver the Budget on 29 March this year. ## The Prospect in Perspective For many that are simply not into all this economic and financial discussion, we put the prospect of rate rise into perspective. What could an interest rate rise mean to a car loan? First, the official cash rate is not the interest rate offered in the lending market. It is essentially a bank-to-bank loan rate but it does form the basis from which lenders set their own lending rates. The official cash rate has not gone up for many, many years so the prospect of a rate rise and an increase in home mortgage repayments will be a whole new experience for most Australians. When the cash rate is increased, lenders tend to follow by increasing their rates on both their savings and their lending products. By how much will depend on the individual lender. Unlike home loans, with secured car loans – both personal and business, a fixed interest rate is fixed for the entirety of the loan term. So when you secure a fixed rate car loan with Jade, you are assured that your rate and your repayments will remain the same for all the years of the loan term. To see by how much a higher interest rate can increase car loan repayments and hence the total amount of interest payable on the loan, refer to our car loan calculators. With personal car loans, our [interest rate business car loans](/car-finance-interest-rates "Explore Competitive Business Auto Loan Interest Rates Here") website shows the current rates offered by several lenders including Jade Car Loans. Enter a loan amount, say the price of the new car you want. Then check out the repayment amount for cheapest interest rate loan, which is ours, against some of the higher rated loans. It’s clear to see how a rate rise affects a car loan. For business finance customers, use the [car business loan calculator](/car-finance-calculator "Access Our Tool for Calculating Business Auto Loan Payments") and leave all values constant while varying the interest rate. See how even a 0.05% or 0.15% increase in an interest rate can affect the repayment. As with all developments in the lending sector, our team will be keeping a close eye on interest rates to update and inform over coming weeks and months. But if you are in a position to move now or soon on your vehicle purchase, it could be a cost-saving decision. **Talk with Jade Car Loans 1300 000 003 to secured a fixed, cheap interest rate car loan** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Easter road trip? First stop – cheap car loan](https://www.jadecarloans.com.au/blog/easter-road-trip-first-stop-cheap-car-loan) **Published:** February 28, 2022 **Author:** Publisher **Content:** If you’re yet to look too far ahead this year, diary alert – the Easter holiday weekend starts on 15 April this year. Easter is a very popular time to head out of town on a road trip so it’s time to start planning. With several state governments incentives to get out and about, such as the NSW dine, discover and accommodation vouchers, an Easter getaway could be an attractive option. But first a few things to attend to. Primarily, do you have the ideal vehicle for the trip planned? First stop, cheap car loan, then new car. Securing a cheap car loan can offset rising fuel prices and other expenses associated with an Easter other road trip and the work day commute. With interest rates still at low levels, now could be the ideal time to upgrade your car with cheap motor vehicle finance so you’re ready to hit the road with dollars to spare for entertainment. ## Vehicle Selection Selecting a vehicle is a very individual and personal decision. If focusing on road trip holidays, here are a few things to keep in mind:- - SUVs are extremely popular and highly versatile, with even many of the small, compact models providing plenty of space for people, gear and luggage. - But all SUVs are not four wheel drive or suited for off-road adventure. - If planning to head off-road then an SUV with 4×4 or off-road capability is a must. Easter can be known for rain in some places so having the right vehicle to tackle the conditions is essential. - If planning to tow a boat, jet ski or caravan, ensure the towing capacity matches the weight of the boat or van. - If planning to stick to the black top and cruise the highways to coastal or rural retreats, consider a roadster or even a convertible to up the ante of the experience. These of course often come with limited seating and luggage space. - Wagons are a great middle of the road option. - Cab chassis and dual cab utes can be the ideal Goldilocks selection for those wanting a getaway and a work vehicle in one. Availability is likely key to which particular vehicle you can secure pre-Easter. It can be wise to be open-minded and organise your car loan prior to the vehicle search so you’re ready to buy quickly and nab limited supply vehicles. ## New Car Loan Options Fortunately availability of car finance is certainly not in short supply. Motor vehicle finance is one of the most competitive lending markets with many offering both personal and [business car loans](/business-car-finance "Explore Financing Options for Commercial Vehicle Loans"). Jade Car Loans offers that extra attraction of being accredited with many so we can quickly source our customers the cheapest offer. For private car buyers the [Secured Car Loan](/secured-car-loans "Discover Reliable Auto Financing with Secured Vehicle Loans") is the most commonly used loan and is suited to new vehicles of all types and sizes. If your road trip vehicle will also double as workday workhorse, you may be eligible for business vehicle finance. The selection of business vehicle finance include [car sole trader loan](/car-chattel-mortgage "Unlock Auto Financing Solutions Tailored for Sole Traders"), Lease and Commercial Hire Purchase. We offer pre-approved finance for all car loans so we can get you organised to be well-positioned to secure low supply makes and models in high demand. ## Securing the Cheapest Car Loan Car loan interest rates vary with lenders and for business buyers across the loan selection. Be mindful that advertised interest rates typically refer to new vehicles and for good credit loan applicants. [Checking your credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Reviewing Your Credit History and Financial Profile") for any errors prior to applying may assist in securing a cheaper interest rate. Because the car finance market is so vast, assessing, applying and reviewing loans from multiple lenders to find the cheapest can be a time-consuming process. Reminder – Easter is approaching and some vehicles are in low supply. So speeding up the finance process could be critical to achieving your objectives. We can assist on that front quite simply. As mentioned above, with our accreditations with multiple banks and non-bank lenders, our consultants save you the time and hassle of the cheap loan search. Sourcing the cheapest offer quickly and easily while you attend to other matters. To see how our interest rates compare with other lenders simply refer to our [Compare Business Car Interest Rates](/car-finance-interest-rates "Conduct a Business Auto Loan Interest Rate Comparison Here") calculator. This buying tool allows car buyers to enter the loan amount and instantly see what the loan repayments may be. A great shortcut to a buying shortlist! ## Where to go – Aussie Top Towns With the car loan and the vehicle sorted, time to decide where to go. If you’re looking at the map of Australia or your own state and wondering where to go, there have been some ‘top destination’ lists recently released which can provide inspo. Tourism Australia recently released its annual list of Australia’s best beaches Travel booking site, Wotif, has also released their list of [2022 Top Towns](https://www.wotif.com/2022-aussie-town-of-the-year) to provide ideas for travellers. The list includes Tamworth, NSW; Caloundra, QLD; Adelaide Hills, SA; Yarra Valley, VIC; Busselton, WA; with Launceston in Tasmania listed as number one. Check out the complete list and previous year’s lists at Wotif. Now you have the info and the inspo you should be ready for the get-go for a great Easter road trip experience. **To secure a cheap car loan to purchase a vehicle suited for a road trip, contact Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Van Buyers: Latest ANCAP Van Safety Ratings](https://www.jadecarloans.com.au/blog/van-buyers-latest-ancap-van-safety-ratings) **Published:** February 28, 2022 **Author:** Publisher **Content:** For commercial van operators that spend many, many hours a day in their vehicles, two key buying decisions will typically be around safety and productivity. The van must provide a safe working and operating environment and at the same time must deliver both goods to customers and a benefit to the business bottom line. To assist the buying decision, new commercial van buyers have latest ANCAP van safety ratings and a range of cheap van finance options to consider. ## Latest ANCAP Van Safety Update In mid-February, ANCAP released a second set of [comparative results](https://www.ancap.com.au/media-and-gallery/releases/valuable-safety-comparison-now-available-for-commercial-vans-operators "Link to Detailed Outcome Comparisons") which are the result of an evaluation of the performance and the availability on a number of commercial vans of active safety systems. The release of these results coincides with a surge in demand for vans driven by the increase in online buying and home delivery needs caused by the pandemic. ANCAP is the nations’ ‘independent voice’ when it comes to vehicle safety. It assesses a range of vehicles based on a comprehensive set of testing criteria to deliver their ratings. This latest release follows the first report in December 2020 and has updated reports on Merc’s Vito and the Daily by IVECO. The assessment updates acknowledge spec upgrades which have been introduced since the previous assessment. A number of other vans are also included in the February 2022 report – the Hyundai Staria-Load and the LDV Deliver 9. In total the report provides the latest summary of the collision avoidance spec and capabilities for 16 vans. According to ANCAP CEO, Carla Hoorweg, the analysis add value to operators beyond the ANCAP star ratings as it shines a light on active safety performance. Ms Hoorweg said that due to frequent use of their vehicles and the increased ‘on-road exposure’, especially in urban areas and interaction with pedestrians and other road-users, it was essential for operators to have an awareness of the crash avoidance capability of their vehicle and its active safety systems. The assessment included Advanced Driver Assistance Systems across a number of vans currently on the market to assist buyers. It’s important to note that ANCAP’s Commercial Van Safety Comparison does not replace or amend the existing safety rating for a vehicle as assessed by ANCAP. It is undertaken and intended as a ‘parallel consumer program’ for buyers to easily compare the active safety features available in the van market. The full list can be reviewed on the ANCAP website but we’ll report some of the notable results:- - [Hyundai Staria-Load](https://www.hyundai.com/au/en/cars/people-movers-and-commercial/staria-load "Discover the Hyundai Staria-Load's Features and Specs") received Platinum – 90% score for crash avoid. - LDV Deliver 9 – 27% and Bronze as assessed with only modest active safety tech. - Update Merc Vito, HiAce and Ford Transit all achieved Gold in crash avoidance performance. - Vito was elevated from Bronze in December 2020 to Gold in 2022 due to the inclusion of new systems. - IVECO Daily increased its rating from Not Recommended to Bronze with the addition of driver monitoring system, autonomous emergency braking and seat belt reminder. While manufacturers are clearly working hard to upgrade safety systems and performance in their vehicles, it can be challenging and somewhat confusing for buyers to actual make informed comparisons of models on this basis. This ANCAP report should be of great assistance for buyers where safety is a very high priority. ## Combining Safety with Productivity – Cheap Van Finance Safety is a high priority for commercial van operators, but productivity is also extremely important. Purchasing a van with a high safety rating with cheap finance, such as an [ABN holder car loan](/abn-car-loan "Explore Car Financing Options for ABN Holders"), may assist operators to contain outgoings and achieve improved productivity and increased profitability. Securing cheap finance starts with sourcing the cheapest interest rate loans while being mindful of the benefits which can be realised with specific loan types. We offer the full choice of loan types for van buyers:- - Chattel Mortgage - Lease - Commercial Hire Purchase The benefits to be realised from each finance product need to be assessed in the context of the individual objectives and structure of the business buyer. These include the approach to the balance sheet, how GST is handled, when and how tax deductions can be claimed and will be dependent on the accounting method implemented. The interest rates vary as can be seen when comparing [business financing car rates](/car-finance-interest-rates "Check Out Competitive Interest Rates for Commercial Vehicle Financing"). Chattel Mortgage attracts the cheapest interest rate and is also most suitable for those considering temporary full expensing. Interest rates also vary across the lender market. To achieve the cheapest interest rate and as such the cheapest van finance, buyers can be greatly assisted by our broker-style service with our quick access to multiple lenders. To further assist van buyers, we provide a [car finance calculator](/car-finance-calculator "Use Our Auto Loan Payment Estimator Tool"). This self-serve tool allows buyers to immediately receive loan repayment estimates on any number of vans they are considering just by entering the purchase price/loan amount and preferred loan term. Owning one of the safest vans on the market can be achieved with cost-effective finance to ensure your working environment is both safe and productive. **Talk with Jade Car Loans 1300 000 003 for a quote on finance for one of the safest vans on the market** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [March RBA Rate Decision](https://www.jadecarloans.com.au/blog/march-rba-rate-decision) **Published:** March 6, 2022 **Author:** Publisher **Content:** Amidst a developing flood crisis in Queensland and NSW and increasing global concern over the war in Ukraine, the [Reserve Bank of Australia](https://www.rba.gov.au/ "Visit the Official Website of Australia's Central Bank - RBA") (RBA) Board held its scheduled monthly meeting to determine interest rates. Since the previous Board meetings in December and in February, economists, analysts and many others have been calling for and anticipating a rate rise. But the March RBA rate decision was to keep rates steady. The RBA has held the official cash rate at the 0.1% historic low since November 2020 and has continually stated its position as being patient and maintaining a supportive monetary policy position to achieve its stated targets. In the statement accompanying the March rate decision, Governor Philip Lowe noted that the global economy was continuing its pandemic recovery but that the war in Ukraine was a new and major source of uncertainty. Increases in the price for energy and the disruption of supply chains had led to sharp increases in inflation in some areas of the world. The resilience of the Australian economy following Omicron was noted with a pick-up in spending and an uptick in investment by businesses. This, Dr Lowe said, was evident in the unemployment figures which, at 4.2% is the lowest in 14 years. While wages growth had picked up it remained at low rates. Dr Lowe notes that inflation had increased at a faster rate than was expected by the RBA. The forecast for underlying inflation is an increase in the coming quarters to in the region of 3.25% before a fall to the vicinity of 2.75% over 2023. This would be in response to resolution of supply issues and return to more normal patterns of consumption. The statement notes that it is too early to draw a conclusion that the pick-up in inflation is sustainable within the RBA’s target of 2-3%. It concludes by reiterating the Board’s patience and that it will be monitoring how a number of factors that affect inflation evolve in Australia. The RBA Board is next scheduled to meet to make a decision on interest rates on the first Tuesday in April. ## National Accounts Figures Just days after the RBA Board meeting, the Treasurer Josh Frydenberg announced the [National Accounts figures](https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release "Link to the Latest Statistics on National Economic Accounts") for the December quarter. The figures show a 3.4% growth in the quarter which is the biggest in 46 years. Mr Frydenberg said that Australia was outperforming many other countries and we had one of the strongest recoveries in the world from the coronavirus pandemic. He said the consumption growth had rebounded as both NSW and Victoria came out of lockdown in the December quarter. The Treasurer echoed the RBA’s sentiment of February, saying that Omicron had not derailed the economy. He said that the Australian economy was in a strong position despite global uncertainty. ## Car Loan Impacts For those considering purchasing a new vehicle with finance in the near future, keeping an eye on the interest rate position is important. The RBA is the body that determines the official cash rate which forms a basis for banks and lenders to set their individual interest rates for their different loan markets. In line with the March RBA rate decision statement which noted financial conditions remain highly accommodative, car loan interest rates remain at low levels. This can be seen across our loan portfolio of both [personal car loans](/personal-car-finance "Explore Financing Options for Individual Auto Loans") and [business vehicle finance](/overview-of-business-car-finance "Discover Customised Financing Solutions for Commercial Vehicles"). The rates for personal loans are different from those for business finance. The interest rate also varies for different business finance products – Chattel Mortgage, Lease and Commercial Hire Purchase. While some lenders have already moved to lift their individual rates in some lending markets, the RBA holding the cash rate steady should ensure car loan interest rates also remain low for the time being. Jade Car Loans focuses on achieving the cheapest interest rates from across our lender panel. Interest is the major determinant of the cost of car finance and achieving the cheapest interest rate will ensure a cheaper loan. Rates offered will vary across the lender market and this can be seen in our interest rate comparison table. Note that the interest rates advertised by lenders are for new vehicles and for loan applicants with a good credit profile. Using our [Car Commercial Financing Calculator](/car-finance-calculator "Access Our Tool for Calculating Commercial Vehicle Financing") the impact of a higher interest rate on loan repayments and hence the overall cost of a loan can clearly be seen. While the RBA has once again held the cash rate at the historic 0.1% level, economists are predicting a rate rise to happen in 2022, possibly as soon as June. Those considering a new car purchase with finance can avoid any rise by securing their finance at the current rates and ensuring a fixed interest rate. Jade offers fixed interest rates across our loan products so our customers are assured their loan rate and their repayments will remain fixed over the term of the loan. **To discuss your motor vehicle finance requirements contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Flood Crisis Loan Assistance](https://www.jadecarloans.com.au/blog/flood-crisis-loan-assistance) **Published:** March 6, 2022 **Author:** Publisher **Content:** As areas of Queensland and NSW are impacted by yet another serious flood crisis, those affected can seek support and assistance from a range of sources. For those with motor vehicles under finance, flood crisis loan assistance may be available depending on your lender and your individual circumstances. The Australian Banking Association has announced how its members will be supporting loan holders affected by the flood and we provide guidance on what to do and who to approach in regard to different circumstances. ## Australian Banking Association Statement Along similar lines to the support offered to loan holders during the coronavirus crisis, the Australian Banking Association has issued a statement in regard to assistance for flood victims with loan commitments. The Association’s CEO, Anna Bligh, said that loan deferrals or arrangements for reducing repayments is being offered by individual banks. These cover home loans, personal loans and some business loans. She encouraged those affected to contact their bank to discuss the options available to them. The support and assistance available will depend on the individual circumstances but may include:- - Deferring repayments for up to 3 months. - Waiving charges and fees. - Consolidation of debt to achieve more manageable repayments. - Loan restructure with free establishment fees. - Deferral of credit card repayments. - Increases in credit limits for emergencies. - Finance for cash flow issues. The measures available will depend on individual circumstances and Ms Bligh said these should give flood affected customers some peace of mind in regard to finances. If you organised your motor vehicle finance through [Jade Car Loans](/ "Visit the Website for Jade Car Financing Solutions"), have been affected by the floods and are seeking assistance with loan repayments, you need to contact the bank or lender directly. While this statement has been issued on behalf of Australian banks, it could be expected that many finance companies and other non-bank lenders would offer similar support to their customers. Those seeking assistance should be aware of the meaning of ‘deferrals’. A deferral is a postponement not a waiver. The repayments will still need to be made on the loan at the forward noted time. When the banking sector offered similar assistance during the COVID-19 crisis, it was advised that any deferrals of loan repayments would not impact a credit profile as a negative. This is not mentioned in the current media release, it could be presumed the same process would occur but it is advisable to confirm this with your individual lender. ## Action for ‘Vehicles under Finance’ For those that have lost a vehicle due to the flood situation and that vehicle is subject to finance, being money is owed on the car, there are steps to be taken. When taking on a secured loan for a motor vehicle, lenders insist that insurance is also taken out on the vehicle. This applies to both personal car loans and to business vehicle finance. If your car has been written off due to the floodwaters, you will need to contact your insurer as the first step. The insurer will set out how to go about lodging a claim. It is also advisable to contact your lender and update them of your situation. If a loan repayment is due and you fail to meet that payment due to the circumstances it may result in a negative entry on your credit report. Contact your lender asap and advise them of your intentions so appropriate actions can be taken on their part to avert a default being recorded. When the insurer’s assessor confirms and approves the insurance claim for a written-off car, the payout process can proceed. There are set processes in place which will be followed. As the lender will have a claim over the vehicle and registered under the [PPSR](https://www.ppsr.gov.au/ "Link to the Personal Property Securities Register (PPSR) Information"") system or other, the insurer pays the amount due to the lender. Any additional funds payable would be made to the loan holder. If you urgently need to replace your vehicle asap and require finance, contact Jade Car Loans to start the loan application process. You should not have to wait until the insurance payout is finalised before applying for a new car loan. ## Loans in Progress If you have been impacted by the flood situation and you currently have a motor vehicle finance application being processed with Jade Car Loans, be assured, the process can still continue. We will be offering continuation of our motor vehicle lending services, including [cheap ABN car loans](/abn-car-loan "Explore Affordable Auto Financing Options for ABN Holders"), through the current and any other flood crisis. This applies across our lending portfolio – [Secured Car Loan](/personal-car-finance "Unlock Reliable Auto Financing with Collateralised Vehicle Loans") and [business vehicle finance](/overview-of-business-car-finance "Explore Tailored Financing Solutions for Commercial Fleet Vehicles") – Chattel Mortgage, Lease and Commercial Hire Purchase. If your application is in process and the flood has changed your circumstances and you seek to amend your application, contact your Jade Car Loans consultant to discuss the options. ## General Flood Victim Support The Federal Government is offering support for flood victims through the Disaster Funding and support and assistance may also be available through Queensland and NSW state governments. **Talk with Jade Car Loans 1300 000 003 to discuss options with car finance in the event of being impacted by the current flood emergency** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Cheap Car Loans Cushion Fuel Price Increases](https://www.jadecarloans.com.au/blog/cheap-car-loans-cushion-fuel-price-increases) **Published:** March 13, 2022 **Author:** Publisher **Content:** Inflation is currently spiking as a result of a number of economic factors. Prices of many goods and services appear to be on the way up especially the cost of petrol. The floods in Queensland and NSW, with the damage to the agricultural sector and transport links, are also set to hit the back pockets of Australian consumers with rising prices. Creating a buffer against price rises can be challenging without impacting lifestyle. New car buyers can focus on securing cheap car loans to cushion the hit to their budget of rising fuel prices and costs of living in general. While Australian drivers are used to the usual petrol price cycles, the overall price for fuel is very much driven by global events. The situation in Ukraine has the potential to impact fuel prices. The extent to which this will cause long-term increases to fuel prices is yet to play out. So while we all grapple with how to maintain lifestyle and business operations ‘as normal’ in this environment, those buying new vehicles can at least look to their choice of finance to keep car expenses to a minimum. We explain what new car buyers should be looking for and doing to ensure they secure the cheapest car loan. ## Know the Motor Vehicle Lending Market If you’ve always just contacted your bank for loans and finance, perhaps it’s time to look further afield. Yes, the major banks are great lenders and Jade Car Loans is accredited with many banks and our consultants include them when sourcing the cheapest quotes for our customers. But there are many sources for car loans which include the banks, finance companies, dealers and manufacturers and motor vehicle finance brokers like ourselves. While the actual types of loans offered may appear similar, the specifics can vary. This is especially evident in the interest rate applied to motor vehicle finance by different lenders. Each will set their rates according to individual requirements and factors. Finding the cheapest interest rate and the loan conditions that deliver the most workable outcome can be time-consuming. Using the services of a broker-style lender cuts out the time factor and the confusion of working through the fine print to compare loan quotes. ## Interest Rate Factor The interest rate is the number one factor that determines the total cost of a car loan and in conjunction with the loan term, the loan repayments. The interest rate which is offered to individual applicants depends on a number of factors. For starters, the rate which you will see promoted by lenders is for new vehicles and for applicants that have a good credit rating. As part of the process of achieving the lowest interest rate car loan offer, applicants can help their cause by addressing the personal side of the loan – their [credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Visit Your Financial History and Credit Record"). Get a free copy of yours and check for any issues that can be rectified to improve the score. Lenders will also assess the risk factor of individuals. That includes their ability to repay the loan. Consumer loans, loans for cars for private use, are regulated by [ASIC](https://asic.gov.au/ "Link to the Official Australian Securities and Investments Commission (ASIC) Website") and lenders must abide by the rulings set by the body. Individuals can improve their own balance sheet by paying down debts such as credit card balances. ## What happens with a rate increase? Essential to maintaining that cushion against price pressures is to ensure your car loan repayments remain the same over the entire loan term. What’s the point of securing the cheapest interest rate car loan only to have loan repayments go up at some point. When the RBA increases the cash rate, which is highly expected to happen this year or at least in the next few years, lenders respond by increasing their rates across the loans they offer. It may only be a small incremental increase but it can mean a significant amount to regular outgoings. To cushion against the possibility of general rate increase, buyers should look for a fixed interest rate car loan. Lenders may offer a fixed or a variable interest rate loan. Variable interest rate loans have the potential for the rate to increase and hence the repayments when the RBA moves on rates. A fixed rate car loan means the interest rate remains the same over the entire time of the car loan term. Jade Car Loans offers fixed rates on all the loans – [personal](/personal-car-finance "Link to the Individual Section of the Website") and [business car finances](/overview-of-business-car-finance "Explore Tailored Financing Solutions for Commercial Vehicles"), in our portfolio. ## Compare Cheap Car Loans Interest Rates Comparing interest rates across the motor vehicle lending market will often be what most buyers will be wanting to do as a starting point. We have made that process a little easier by preparing a list of some lenders in the market with the [current commercial finance car rates](/car-finance-interest-rates "Stay Informed About Today's Business Vehicle Loan Interest Rates") they are offering on personal car loans. We’ve also made the process of comparing affordability easier by making this list a loan calculator. You simply enter the amount you want for your loan at the top and the function auto-calculates repayment estimates across the listings. ## Calculator Highlights Repayment Differences Using a car loan calculator is a great way to see how the interest rate and the loan term can impact the amount of the monthly car loan repayments. Vary the interest rate and vary the loan term to see how that affects the repayment. This highlights how important achieving the cheapest loan can be to ensuring a level of buffering when costs in other areas rise. Of course it may take skillful negotiations with lenders to achieve the loan term and interest rate that will deliver the cheapest loan. Another key benefit offered by your Jade Car Loans consultant. ## Additional Tips for Business Buyers Getting more tax deductions can reduce taxable income which eventually, when the annual tax return is submitted, can be a cost saving for business vehicle buyers. Looking for finance options which deliver the most cost-effective benefits to the business can contribute to achieving this objective. For example, utilising the benefits on offer through temporary full expensing. [Business Car Chattel Mortgage](/car-chattel-mortgage "Explore Financing Options for Commercial Vehicle Chattel Mortgages") is best suited for those looking to utilise this tax measure. While preventing price increases of many goods including fuel is outside the power of most of us, it is within the power of new car buyers to at least offset to a small degree these increases with a cheap car loan. Address the issues, know the market and work with the lenders that can offer the lowest interest rate loans are keys to keeping motoring costs to a minimum. ### **For a quote on a cheap car loan contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Check out February’s Top Selling Cars for Buying Inspo](https://www.jadecarloans.com.au/blog/check-out-februarys-top-selling-cars-for-buying-inspo) **Published:** March 13, 2022 **Author:** Publisher **Content:** Out of general interest or seeking serious buying inspiration, checking out what cars are selling best is a popular and can be extremely useful for buyers. Both keen buyers and motoring enthusiasts can look to the latest top selling cars figures for inspiration on what is selling or to keep abreast of popular makes and models. The latest sales figures have been issued by the FCAI for February 2022 and the jury seems out that the popularity of the traditional passenger car has definitely given way to SUVs and utes. As we have mentioned in several posts over the past few ‘COVID-impacted’ years, assessing best-selling figures must be done in the context of the current market conditions. That means availability. Many brands have been impacted by the microprocessor shortage and shipping issues. Manufacturers have faced difficulties getting models into showrooms and buyers behind the wheel. As these challenges are overcome by individual brands, more vehicles are available to fill back orders for much-relieved dealers. For prospective new car buyers we provide details on the latest top selling cars and finance options to secure the vehicle of choice. ## FCAI Statement The Federal Chamber of Automotive Industries is the peak organisation which represents many in the Australian automotive sector. The FCAI releases the figures for sales of new vehicles each month and issues a statement highlighting the key points. Sales for February 2022 were up 1.6% on the same month in 2021 and Mr Tony Weber, the Chief Executive of the FCAI said that was positive news given that the supply chains had not as yet been completely stabilised. Mr Weber said that complete recovery of the global supply chain in regard to the shortage of microprocessors remained some way off. He said that the demand for new cars from Australian consumers remained strong and that the manufacturers were working hard to get motorists behind their wheels. ## Sales in General The sales figures are broken down by state/territory and by top makes and models and compared to the corresponding month in the previous year and some figures are reported as YOY (year on year). On a state basis and in comparison with 2021, ACT down 2.6%; NSW down 3.5%; QLD up 3.8%; TAS up 16.6%; SA up 8.9%; VIC up 5.5% and WA down 1.7%. The passenger car market is down 18.3% compared with February 2021 while the SUV sector is up 5.4%. The light commercial sector, vans, continues to post strong sales with another increase in February 2022 compared with 2021. As a sign of the trend away from passenger cars and towards SUVs, there is only one passenger model in the top ten sales results for apparently the first time. This trend is also reflected in the number of passenger car models, especially in the smaller sizes, currently on the market. So if you’re in the market for a passenger car you may need to rethink and consider a SUV. If you’re wondering about differences in car loans, with Jade Car Loans there is none. We offer the same range of loan types, same interest rates and loan conditions for both new passenger vehicles and SUVs. The loan interest rate and other specifics are assessed and offered based primarily on the credit profile and other details of the person applying for the loan. ## Make and Model Results Breakdown No great surprises when it comes to top selling brands with [Toyota](https://www.toyota.com.au/ "Visit the Official Toyota Website for More Information") retaining market leadership overall. Next came Mazda, Mitsubishi, Kia, Hyundai, Ford, MG, Subaru, Nissan and Isuzu. Sales figures are also posted for the top selling car overall and within several market segments. Overall top selling models for February 2022: - The iconic workhorse Toyota HiLux - Popular SUV Toyota RAV4 - Mitsubishi Triton - The Ford Ranger - Toyota Prado - Increasingly more popular – MG ZS - Isuzu D-MAX Ute - Highly popular small SUV Mazda CX-30 - Highly-awarded Hyundai i30 - Mitsubishi Outlander Clearly showing how the SUVs and work vehicles are outselling the passenger cars. Note the Triton nudging ahead of the Ranger! Be mindful that many businesses will be keen to purchase their vehicles at this time to take advantage of temporary full expensing in this financial year. For those with this in mind, speak with us about a [Chattel Mortgage for business cars](/car-chattel-mortgage "Discover Business Vehicle Financing Through Chattel Mortgage"). For buyers that are set on a passenger car, here are some of the models that sold best in February 2022:- - Micro – Kia Picanto - Light – MG3 and Mini - Small – Hyundai i30 and BMW 2 Series Gran Coupe - Medium – BMW 3 and Toyota Camry - Large – Kia Stinger, BMW 5, Chrysler 300 and Mercedes-Benz S Class ## New Car Finance Options For new car buyers we offer the full portfolio of personal and business finance options. With availability still tight on some makes and models, arranging your finance prior to heading into a dealership may improve your chances of faster delivery. You may be in the right place at the right time and with the right car loan to nab a demo or the last ones on the lot. When comparing different makes and models in terms of car loan repayments, use our [business car repayment calculator](/car-finance-calculator "Access Our Tool for Calculating Business Auto Loan Payments"). It’s quick and easy and free to use and is an essential for buyers where affordability is a driving factor in the purchase. **For a car loan quote on a top selling car, call Jade Car Loans on 1300 000 003 or apply online** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Lock in Low Interest Rate Finance for Best selling Utes and Vans](https://www.jadecarloans.com.au/blog/lock-in-low-interest-rate-finance-for-best-selling-utes-and-vans) **Published:** March 20, 2022 **Author:** Publisher **Content:** The best-selling motor vehicle figures for February this year are in and many business owners will no doubt be eyeing the data for a new ute or van. But the motor vehicle market at the moment is in strange territory. Order-taking is outstripping supply for many manufacturers. Dealers are taking orders while waiting on shipments to actually make the sales. A situation which makes interpreting monthly car sales figures for best selling utes and vans a bit of a quandary for buyers. Figures can represent which dealers actually received shipments that month and could deliver their outstanding orders rather than the actual popularity of an individual make or model. While the sales figures might leave buyers confused with decision-making, when it comes to financing the purchase there is little doubt what the overwhelming choice will be – selecting cheap motor vehicle finance at a fixed, low interest rate. Cost of living pressures, increasing fuel prices, shortages in supplies and materials and a possible interest rate rise this year individually present important considerations for business owners looking to take on finance. When all these factors occur at the same time, such as the case at the moment, the need for greater attentiveness when it comes to finance is critical. For those considering the purchase of a new work vehicle, we update on what makes and models sold best in February and how to secure cheap fixed interest rate motor vehicle finance with suitable terms to purchase best selling utes and vans as reported in the February 2022 data. ## Best-Selling Work Vehicles The February 2022 motor vehicle sales data reveals that once again it is the Toyota HiLux holding top spot. [Toyota](https://www.toyota.com.au/ "Explore the Official Toyota Website for More Information") also held onto top spot as the leading brand. In the overall top vehicle sales results (which includes passenger cars as well as utes etc) several utes made an appearance. HiLux was first, Mitsubishi Triton in third followed by Ford Ranger and in seventh place was the Isuzu D-MAX. The surprise for many was the Triton overtaking the Ranger. Breaking down the specific categories we have:- - Utes 4×2: HiLux (4×2), D-MAX, Triton - Utes 4×4: HiLux (4×4), [Triton](https://www.mitsubishi-motors.com.au/vehicles/triton.html "Visit the Triton Official Website for Details"), Ranger - Vans under 2.5 tonne: Renault Kangoo, VW Caddy, Peugeot Partner - Vans 2.5 to 3.5 tonne: HiAce, LDV G10, Hyundai Staria The light commercial vehicle market continues to perform well, with the [FCAI](https://www.fcai.com.au/ "Link to the Official Website of the Federal Chamber of Automotive Industries (FCAI)") reported this segment was up 12.3% compared with the corresponding 2021 month. Signs perhaps that the demand for online shopping and home deliveries is being sustained despite the COVID-19 crisis phase appearing to be somewhat halted. ## Assessing Cost Factor of Business Vehicle Finance To add real value to the business, the purchase of a new ute or van needs to be done with cost-effective finance. While the key objective in sourcing the cheapest finance is naturally to look for the cheapest interest rate, there is more to consider. There are other factors that can also determine the overall cost or benefit to an individual business. Primarily, these are the type of finance and the lender. Both of these can make a big difference to the cost-effectiveness of the loan. Different finance products offer varying tax and other benefits. The selection of business vehicle finance types include: - Chattel Mortgage - Leasing - [Cheap Car Hire Purchase](/commercial-hire-purchase "Learn More About Vehicle Hire Purchase Options Here") Deciding which is going to work best with your business set-up will depend on financial objectives, accounting method and other issues. Discuss these with your business accountant as they are best-placed to know the implications of each loan type for your specific operation. The choice of lender is also critical. Lenders vary in the interest rates they offer on different loan types and in their flexibility to negotiate on finance terms and loan conditions. All important to overall cost-effectiveness of the purchase. Not achieving the preferred finance structure may result in a cost in some way to a business. For example, not being offered the loan term desired can result in having to pay more in repayments, which can put pressure on cash flow which can in turn lead to issues for the business. For businesses requiring no doc and [Low Doc Car finance](/low-docs-car-loans-for-business-vehicles "Discover Auto Financing Solutions with Minimal Documentation Requirements") this can be even more significant. To ensure all options are on the table and covered, Jade Car Loans is accredited with many motor vehicle finance lenders – banks, finance companies and non-bank lenders. This provides us with the ability to source and negotiate the best finance offer for our customers. ## Locked and Low Rate Finance The interest rate is of course the major contributor to the cost motor vehicle finance. With interest rates looking set to rise at some time in the possibly near future, locking in fixed rate vehicle finance at the current low rates should be a priority. It ensures the business will realise the benefits of lower repayments and hence lower outgoings (compared with a higher or variable rate) for all the years of the finance term. We provide a fixed interest rate and [better business car loan interest rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Enhanced Business Auto Loans") across our complete motor vehicle finance product selection. These products and rates cover all types of new commercial and work vehicles including best selling utes and trucks. To further assist our customers secure their vehicle in the current limited stock climate, we can provide pre-approved finance. **To lock in low, fixed interest rate motor vehicle finance on a best seller, contact Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Buying New Car: Car of the year or best-seller?](https://www.jadecarloans.com.au/blog/buying-new-car-car-of-the-year-or-best-seller) **Published:** March 20, 2022 **Author:** Publisher **Content:** When it comes to selecting a new car to purchase, buyers will adopt a range of criteria and processes to decide on which car they will buy. It may be a favourite brand, appearance, price or functionality. For those that do the deep dive, there are the car of the year awards and the best-sellers to compare. Yes, these can be different makes and models. Should buyers focus on what others are buying or on what motoring experts judge as the best cars? The best-selling car stats are released on a monthly basis by [FCAI](https://www.fcai.com.au/), the body that represents the automotive industry in Australia. The results list which makes and models sold the most units in that month. We recently posted an article for the February car sales results which you can review. But then there are the car awards schemes. The team at Drive conduct their annual [Car of the Year awards](https://www.drive.com.au/drive-car-of-the-year/2022/ "Link to the Awards for Car of the Year Winners") which are very thoroughly judged and cover many categories. Car choices are a very personal issues. But currently complicating purchase decisions is availability. The supply chain issues and microprocessor shortage has wreaked havoc on the motor vehicle production. For some models there is a multi-month wait for delivery. Issues which are reflected in the car sales figures but not necessarily in the awards. Another emerging issue that could make that worse is the fall-out from the recent east coast flood crisis. Thousands of cars were written-off and that means more buyers in the market to replace their vehicle. Buyers may need to decide whether or not to wait for delivery of their first choice or secure what is currently available. OK, that’s the not so good news. Now for the better news. Regardless of whether a car purchase is a car of the year or is a best-seller, the same selection of [car loan financing options ](https://www.jadecarloans.com.au/overview-of-business-car-finance.php "Explore a Variety of Auto Financing Solutions")products are available to finance the purchase. To assist new car buyers with that critical decision over which car to buy, we cover off on what the experts at Drive consider the best cars of the year, what actually are the latest best sellers and the finance options we currently offer on both for both personal and business buyers. ## Cars of the Year The expert team at Drive conduct their own ‘awards’ each year to judge what they consider the best cars in multiple categories. They recently released the results for 2022 and the info can provide direction and inspiration for new car buyers. You can review all their [judging criteria](https://www.drive.com.au/drive-car-of-the-year/2022/ "Link to the Criteria Used for Evaluation") but essentially their goal is to identify which are the best new vehicles for our local budgets and requirements. The judges put the vehicles through a strenuous judging regime to identify weaknesses and the strengths of each car. This team is highly-regarded and many buyers will regularly refer to their recommendations. There are multiple categories which you can check out, but we’ll mention just a few of the most popular here. The overall Car of the Year for 2022 as judged by Drive went to the Kia Sportage. The best off-road dual cab will be of interest to many of our business customers and the winner is Ford Ranger Raptor. The best dual cab ute award has joint winners with the Mazda BT-50 SP and Isuzu D-MAX sharing the honour. SUVs are leading the market in sales. In car of the year there are multiple categories. Small SUV winner is the Ford Puma, best medium SUV the Kia Sportage after years of the RAV4 dominance, and the best large SUV, Toyota Kluger. With cost of living pressures top of mind for many new car buyers, consider the best value car of the year which Drive judged as the Kia Cerato S. For those considering an EV, the best EV priced below $100,000 award went to the Hyundai Ioniq 5. SUVs are overtaking passenger cars in popularity. But for those still in the market for a passenger vehicle, the judged the best in the medium to large category was the Skoda Octavia. ## Latest Best-Sellers So you have what Drive consider the best new cars on the market but what is actually selling best at the moment? As flagged at the outset of this piece, stock levels are seriously impacting sales results and probably will for some time. The HiLux took out best-seller for February followed by the RAV4, Triton, Ranger, Prado, MG ZS, D-MAX, Mazda CX-30, Hyundai i30 and the Outlander from Mitsubishi rounded out the top 10. Plenty of food for thought but when it comes to action, if you want to purchase now, then ringing around dealers to discuss availability could be the first step. To put yourself in prime position to say YES the moment when you find the car you want, speak with us prior to arrange a pre-approved car loan. ## New Car Loan Options We have the same selection of personal car loans and business vehicle finance for vehicles judged cars of the year and those that are selling best. [Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") is suited to most private buyers of new vehicles. Businesses have a choice of:- - [Sole trader car financing](/car-chattel-mortgage "Explore Tailored Vehicle Financing for Individual Business OwnersExplore Tailored Vehicle Financing for Individual Business Owners") - Lease - Commercial Hire Purchase While deciding on which car to buy may be a difficult process due to so many considerations, at Jade Car Loans we ensure the car finance process, including sourcing [affordable ABN car loans](/abn-car-loan "Discover Cost-Effective Car Financing Options for ABN Holders"), is a streamlined and simple experience. Just brief one of our consultants as to your requirements and we’ll do all the work of sourcing the cheapest loan offer, negotiating the loan with the lender, finalising settlements, and assisting with the paperwork. Car of the year or best seller? No doubt a debate that will continue for some time. **For a car loan quote on a new vehicle, call Jade Car Loans on 1300 000 003 or apply online** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Comparison Sites or Broker Assistance? Finding cheapest car loans](https://www.jadecarloans.com.au/blog/comparison-sites-or-broker-assistance-finding-cheapest-car-loans) **Published:** March 28, 2022 **Author:** Publisher **Content:** In a climate of rising inflation with price increases across a multitude of goods including fuel, who isn’t looking for the ‘cheapest’ everything to keep budgets in check. When it comes to buying a new car, for most buyers that means finding the cheapest car loans. Car loans can have loan terms of 4, 5 or 6 years. That can be a long time to regret not having taken the trouble to study the options and accept the assistance available to achieve the cheapest deal. The motor vehicle finance market is one of the largest in the Australian lending sector and with size comes competition. There are many banks, finance companies, vehicle manufacturers and other lenders which offer car loans. In addition to going direct to a lender, specialist car finance brokers offer services which encompass a large number of lenders. The interest rate is a major consideration when sourcing a car loan and they can vary considerably across the motor vehicle lending market. The [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") sets the official cash rate but banks and other lenders set the interest rates they choose to charge on different loans. Online, self-service platforms provide easy access to information for those seeking car loans. Accessing these sites can be a great first step. But then comes the task of analysing and reviewing the information sourced, making enquiries and coming to a final decision as to which loan you think is best for your requirements. Finance brokers on the other hand have access to many lenders plus they provide expertise and other valuable assistance especially when it comes to sourcing a tailored car loan which has been especially negotiated to suit your requirements. In finding cheapest car loans should buyers rely solely on loan comparison sites or engage the assistance of a motor vehicle finance broker? We address that question in this comparison of car loan comparison sites and car loan broker lenders. ## Car Loan Comparison Sites There are many platforms which offer comparisons in many fields including loans. The format of these resources will vary but primarily they may display a list of which lenders are offering what interest rates on car loans. Similar to the Compare Interest Rates table provided by [Jade Car Loans](/ "Jade Car Loans: Your Path to Affordable Vehicle Financing"). When reviewing these lists, it can be wise to check the \* marked conditions and read the fine print. Do you fit the criteria? Does your vehicle fit the criteria? Check who has published the list or the site? Is it skewed in any particular direction? Is it possible to vary certain aspects of the loan? Can you get a different loan term? Want no deposit finance? Are all your questions addressed quickly and accurately? These sites can be extremely helpful resources and a great starting point for those in the market for a car loan. But, once these comparisons have been reviewed, the buyer still has to go through the process of sourcing specific quotes which can mean completing a loan application and making all those enquiries themselves. Referring to comparison sites can be helpful for a general overview but essentially they are general guides and don’t have the functionality to provide a custom service to source tailored motor vehicle finance. ## Finance Broker Assistance The other option to finding and securing the cheapest car loan which is also tailored to meet your requirements is to engage the services of a car finance broker, a lender such as Jade Car Loans. Our services are available to both individuals for personal car loans and to businesses for all types of motor vehicle finance. The way we work is to take on what can be hard work for car buyers to do themselves – source and negotiate the cheapest car loan that is tailored to suit their requirements. On contacting us, customers are assigned a consultant who handles the process for them. We discuss your requirements, request information in regard to the application, then source a no-obligation quote for you. During the process of sourcing the quote, our consultants negotiate with our lenders at the industry-level access we have, to achieve the cheapest quote and the most suitable loan terms. Our accreditation with multiple banks and lenders and our industry level connections make what would be a time-consuming task for individuals, a quick and streamlined process. When the quote is accepted, our consultants process the loan application and liaise between the car dealer and our lender to settle the deal. All with the highest level of expertise and experience in lending to provide explanations of loan conditions and other terms and details to our customers to save them worry, hassle and time. ## Impacts on Car Loan Offers Just a few extra points to consider in regard to sourcing car loans from generic comparison sites or from loan calculators alone. First, the [interest rates for business car loans](/car-finance-interest-rates "Explore the Latest Business Auto Loan Interest Rate Information") advertised widely by most lenders will be for applicants with a good credit profile and for purchases of brand new cars. Any variations from these criteria or standard loan application requirements can attract a different loan offer. So [credit rating](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports) and profile is a major consideration as is individual financial position and the type of vehicle. For businesses it can be more complex especially if a business is new or does not have all the documentation required. These are matters which your Jade Car Loans consultant will address and handle on your behalf. So car loan comparison sites can be a good starting point to see what is available in the motor vehicle lending market. However, using a broker to actually source and negotiate the loan may result in the cheapest car loans. **Take the smooth road to finding the cheapest car loan – contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Questions around Pre-approved Car Loans and Vehicle Delivery Delays Answered](https://www.jadecarloans.com.au/blog/questions-around-pre-approved-car-loans-and-vehicle-delivery-delays-answered) **Published:** March 28, 2022 **Author:** Publisher **Content:** One of the major issues currently affecting the new car market is availability. The shortage of computer chips along with COVID-19 issues slowing down productions in overseas manufacturing plants are the key reasons for the delays. The talk in the motor industry around the ‘old days’ of ‘walk-in and driveaway’ in a new car have gone for now. The supply issues are anticipated to normalise to some extent by next year. Variations will occur across different brands. So buyers face the prospect of pre-ordering and waiting months or longer. So questions are arising around pre-approved loans and car availability. To assist buyers we answer questions around what happens with pre-approved car loans with delays in taking delivery of the vehicle. We present this general response in an FAQ format for quick perusal. This is general information and more specific answers regarding your specific loan can be obtained by speaking with a Jade Car Loans consultant. ## What is a pre-approved car loan? A pre-approved loan is a loan where the application is processed through to the stage of ‘approved’ before an actual car purchase has been committed to. The alternative being – select the car, do the deal with the dealer, pay a deposit and then head off to source finance. At the pre-approved stage the exact loan amount may not be known. Applicants can request loan approval for a dollar amount with or without a particular vehicle in mind. ## Is the criteria the same for pre-approved loan applications? Yes. All loans applications follow the same eligibility and criteria. Loans for private vehicles are consumer finance and regulations as set out by [ASIC](https://asic.gov.au/) need to be adhered to by responsible lenders. ## Is the interest rate the same? Yes. The quote for a pre-approved loan or a ‘post-purchase’ loan will be priced at the [business car loan interest rate](/car-finance-interest-rates "Link to Information on Financing Interest Rates") which is current at the time of application. ## Can cheap car loans be obtained with pre-approved finance? Definitely. Jade Car Loans go through the same sourcing and negotiating processes for all loans. That includes sourcing the cheapest option and negotiating as far as possible on terms and conditions. ## What loans is pre-approval available for? Pre-approved motor vehicle finance is available across our full portfolio of personal car loans and business vehicle finance. - [Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") - [Car Sole Trader loan](/car-chattel-mortgage "Discover Financing Solutions Tailored for Sole Proprietors' Vehicle Needs") - Lease - Commercial Hire Purchase - Novated Car Leasing with Salary Sacrificing ## What obligation is attached to pre-approved motor vehicle finance? There is no obligation to proceed when requesting a pre-approved loan. If you change your mind and do not proceed with the purchase, the loan offer simply expires. ## How long does the approval last? Pre-approved loan offers are valid for a certain amount of time which will be advised at the time. The validity period may vary across our lenders. For specific details prior to make an application, please contact our team. ## What happens after the pre-approved loan expires? When the period of the pre-approved loan as designated by the lender expires, that loan offer is essential no longer valid. ## When the car is available for delivery, what do I need to do? The actions required when the vehicle is finally available will depend on the time which has elapsed since the pre-approved loan offer was made. If it is after the expiry date, your Jade consultant will source a new quote for you. If the details required for the application including your financial position remain constant, the application process should be able to be expedited. If delivery timing is within the valid period of the pre-approved loan, simply contact your Jade consultant to finalise the loan and liaise with the dealer for settlement. ## Will I get the same interest rate months down the track when the car is available? If the pre-approved loan expires and a new loan quote is required, the interest rate current at the time of quoting would apply. If the [RBA](https://www.rba.gov.au/ "Link to the Official Reserve Bank of Australia (RBA) Website") moves to increase the official cash rate in 2022, banks and lenders will usual respond for increasing lending rates. To ensure you are eligible for the cheapest interest rate loan, ensure you keep your credit profile in good order. Regardless of the interest rate market, Jade always works to achieve better interest rates for all our customers. ## What are the advantages of getting a pre-approved loan now when the car is not available for months? While a pre-approved loan may time out before the vehicle is available for delivery, there are still advantages to be realised. A pre-approved loan provides a level of certainty around affordability. Buyers usually have a price range for their new car but may not know how that price converts to loan repayments. A pre-approved loan can provide that certainty. Know you have been approved may also place you in a position to pay a deposit to secure the vehicle on the next shipment. Often dealers may lock in orders at currently advertised prices so savings on the vehicle price may be realised. For those that are unsure of their credit rating, applying for a pre-approved loan provides clarity over how much you would be approved to borrow and what the repayments will be. ## Why not just use a car loan calculator to get a loan estimate for pre-ordering purposes? Our [business Car Loan Calculators](/car-finance-calculator "Access Our Tools for Calculating Financing Options for Business Vehicles") are great for obtaining rough repayment estimates on loan amounts and for forming ideas around how you want your loan structured. But, calculators are a generic device and do not have the functionality to cater for the nuances of individual loan applications. The results obtained from a calculator may vary from those in a loan quote. Hopefully this information has been of assistance to you and we invite you to contact us to discuss pre-approved car finance. **For pre-approved motor vehicle finance call Jade Car Loans on 1300 000 003 or apply online** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Federal Budget: Car owners, buyers and car loan perspective](https://www.jadecarloans.com.au/blog/federal-budget-car-owners-buyers-and-car-loan-perspective) **Published:** April 5, 2022 **Author:** Publisher **Content:** With mounting cost of living pressures especially rising fuel prices, many Australians would have likely paid more attention than usual to the Federal Budget announcement this year. Billed by the Government as a ‘cost of living’ Budget, many would be hoping for relief on day to day expenses. For those considering purchasing a new vehicle we highlight the key points of the Federal Budget for individuals and businesses in regard to the significance of buying new vehicles with a car loan and motor vehicle finance. ## Federal Budget Announcement The Federal Treasurer Josh Frydenberg brought down the 2022-23 Federal Budget on the evening of 29 March in Federal Parliament. Normally the annual budget would be announced in May, but due to the timing of the timing of the Federal Election, the date was brought forward. In opening his [Budget Speech](https://budget.gov.au/ "Access the Annual Financial Address - Budget Speech"), the Treasurer noted the uncertain times with war in Europe, the global pandemic still continuing and the devastating flood situation. He said the past two year had been tough but that Australia remained resilient. Mr Frydenberg noted that the recovery from the pandemic in Australia was world-leading, noted it was stronger and faster than many other countries including the US, UK, Japan, Canada and Germany. The Treasurer said the Budget would see the unemployment rate decrease further, while it currently sat at the lowest rate in 48 years, at 4%. Understandably the budget covers many figures and areas and those interested can refer to the full detail at the [Budget website](https://budget.gov.au/). ## Budget: Key Takeouts For car owners, the temporary reduction of the fuel excise will be most welcomed. The excise will be cut by 22 cents per litre for the next 6 months. This will flow through to reductions at the bowser. ## For individuals - The major item for individuals in the low and middle income brackets which covers those earning up to $126,000 per year is the increase of $420 tax break as part of the LMITO (low and middle income tax offset). This is a one-off tax break and will bring the offset maximum up to $1500 for this financial year. This can be realised when the tax return is submitted. - $250 one off payment for pensioners and welfare payment recipients. - Reduction in some medicines may assist weekly budget for those impacted. - Doubling of the places in the Deposit Guarantee Scheme to assist those seeking to purchase a home. - First Home Super Saver Scheme increased to $50,000 from $30,000 ## For businesses The benefits of the Budget for businesses will partially depend on the industry or sector. Some of the inclusions to benefit general business including streamlining interaction with Government with new tech to automate reporting and as such reduce costs and this improve cash flow. - A key inclusion from our perspective is the extension of the instant asset write-off through to 30 June 2023. For business vehicle buyers, this means that vehicle purchase could yield significant tax benefits. - The $17b infrastructure spending in road, renewable tech and rail could mean more work for those in the trades operating in this sector. - Tax cuts for small business to 25% from the current 30% - Small business training tax deduction: $120 deduction for evet $100 spent. - An additional $1b for the Modern Manufacturing Strategy. - Apprenticeship subsidies and wage subsidies to hire trainees. ## Be mindful Budgets are Bills and need to be passed by Parliament in order to come into effect. While some measures such as the reduction in the fuel excise came into effect immediately, some measures won’t come into effect until the Bill is passed. This is the 22/23 Budget and some initiatives may not come into effect until after 1 July or even later. Another complicating issue is the upcoming Federal Election. The Opposition Leader, Anthony Albanese has said that his party won’t block the cost of living measures in the budget. But if there is a change of Government at the election, another budget may be announced post-election. The $420 tax offset is not a cash hand-out. It is an amount which is deducted from taxable income when the tax return is submitted. For many in the eligible category it does mean money back but only as a tax return. So you’ll have to wait. Good incentive to get that tax return in asap after 1 July. ## Motor Vehicle Finance Impacts For those considering purchasing a new vehicle, some of the budget measures could be seen as incentives to proceed:- - Continuation of IAWO through to EOFY next year is a key driver for business buyers. For those considering utilising this measure, [Car Chattel Mortgage](/car-chattel-mortgage "Explore Financing Options for Vehicle Chattel Mortgages") is the most appropriate form of finance. - More work opportunities on the horizon. - Wage subsidies could reduce expenses and free up funds for motor vehicle repayments. Refer to our [Car Loan Commercial Calculator](/car-finance-calculator "Utilize Our Business Vehicle Loan Calculator for Precise Estimates") to see how that may work out for your business. - Recent hikes in fuel prices and the volatility due to the global scenario could be reason to invest in more fuel efficient vehicles, possibly EVs. - LMITO means dollars on the way which could go towards the car loan repayments. With our Secured Car Loan, additional payments are permitted. Any tax return received could be paid towards the car loan. Additional payments can be used to reduce the commitment or against future payments. ## Car Loan Interest Rate Impacts The Government doesn’t set the interest rates or more specifically the cash rate. That is the responsibility of the [RBA](https://www.rba.gov.au/ "Visit the Official Reserve Bank of Australia (RBA) Portal"). So the Federal Budget announcement will not in itself change car loan interest rates. But the outcomes of fiscal policy (the Government’s remit) are put in place to influence economic conditions which in turn influence the RBA’s decision on interest rates. The Budget Papers note that the higher prices for oil, food and gas on a global level as a result of Russia invading Ukraine have added inflationary pressures. The forecast of GDP on a world scale has been downgraded and the forecast is for inflation to increase. The notes also see a further reduction in unemployment. With inflation increasing and unemployment decreasing, it is highly likely that interest rates will be increased in 2022. The RBA Governor, Philip Lowe recently stated it was probable that this could occur. When the RBA moves on rates, the decision flows through the lending sector and that typically means higher rates on car loans. So the Federal Budget announcement does include benefits for both individuals and businesses which could be incentives to proceed with new car purchases. If the forecasts are on track and inflation rises and unemployment drops, there is a high likelihood that interest rates will increase. **Contact Jade Car Loans on 1300 000 003 for a quote on personal or business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Motor Racing: Australian F1 Grand Prix](https://www.jadecarloans.com.au/blog/motor-racing-australian-f1-grand-prix) **Published:** April 5, 2022 **Author:** Publisher **Content:** After some hiccups and cancellations over the past 2 years, motor racing fans will once again be treated to a local spectacular with the return of the Australian F1 Grand Prix to Melbourne locked into the traditional timing, early in the race schedule. Two rounds of the [Formula One 2022](https://www.formula1.com/en/racing/2022.html "Explore the Latest on the Formula One 2022 Season") season have been completed – in Bahrain and Saudi Arabia, and now all eyes turn to this weekend, 7-10 April, at Albert Park in Melbourne, Victoria. For motor racing fans the F1 Grand Prix circuit is the pinnacle of motor sport. The ultimate performance of engines, teams and drivers. For many fans, the racing can ignite a passion for these amazing machines and spark more than a little interest in owning a vehicle from one of the famous motor manufacturers represented on track. For both fans and potential buyers, we cover off on what’s in store at the Australian F1 Grand Prix and what cheap motor vehicle finance options are available to purchase a Ferrari, McLaren or Mercedes sports ca**r**. ## Australian F1 Grand Prix The third round of the Formula One season will be at Albert Park in Melbourne over 4 days, Thursday 7th through to Sunday 10th April. The event includes an amazing line-up of motor racing and entertainment with fun and interest for fans and families. On the track, in addition to the drawcard race, the schedule also includes rounds of Australia’s favourite Supercars, the Carrera Cup and S5000 races. Around the ground, visitors can take in exhibitions, Fan Zone, entertainment, hospitality and plenty of other attractions. Tickets are available so why not get organised and get along to rev up your spirits. The schedule covers four days: - Thursday on track action includes Supercars, Historic Demos, Carrera Cup, RAAF Roulettes, S5000 and the Ultimate Speed Comparison. - Friday and Saturday include practice sessions for the F1 teams and support races. - Saturday is Qualifying for grid positions. - Sunday will start with support races and the main event starts at 3pm Melbourne time. ## The Contenders: Current Standings Australian drivers have had mixed fortunes when appearing in home GPs, and local hero, Dan Ricciardo was recently quoted as saying it is a nervous time. After the first two races of the season including a DNF in Saudi Arabia, Daniel Ricciardo in his McLaren Mercedes is languishing towards bottom of the standings. But be comforted. Multiple champion Lewis Hamilton has just one point and is only in 10th position. So early days. Max Verstappen from Red Bull is in first place in the overall standings, followed by the Ferrari drivers of Charles LeClerc and Carlos Sainz. Ferrari lead the teams standings. While many will be hoping for a Ricciardo win or at least a podium, it’s likely the unpredictable Melbourne may have its usual influence on the race. ## Inspired to Buy? Becoming a race car driver is not within the possibilities for most, but you can experience the thrill of driving a high performance sports car with your own Ferrari, McLaren, Mercedes or Lamborghini. While availability is likely to be impacted by the issues affecting many motor vehicle brands, there are some exciting models for sports car buyers to consider. Ferrari is considered the ultimate in Italian style, engineering excellence and performance. Check out your local dealership for models such as F8 Tributo, 812 GTS, Roma or convertible Spider. The McLaren name is synonymous with motor racing and fast cars. The range of McLaren models is quite extensive and includes GT, Supercars models and others. Check out your local dealer for availability. Mercedes is also a familiar F1 brand and while the racing cars are a far cry from what we see on Australian roads, the Mercedes-Benz brand is a highly accessible brand with a great range of SUVs, sedans, coupes and sports car on the Australian market. ## Sports Car Finance If you’re in the market for a sports car such as a Ferrari, Lamborghini or McLaren then you are talking top of the price range. To bring the purchase price into a more affordable range, sourcing the cheapest sports car finance may be a priority. As we do with finance on all types of motor vehicles, Jade Car Loans provides [cheap car interest rates](/car-finance-interest-rates "Competitive Business Vehicle Finance Rates at Jade Car Loans") for the purchase of high-end sports cars. The types of loans available include: - [Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") for private buyers. - For business buyers the selection includes Leasing, Chattel Mortgage and Hire Purchase. For an indication of what estimated repayments may be, refer to our Interest Rate Comparison and use our Car Loan Calculator to work up how you may like your sports car finance structured. Business buyers can look to varying the balloon/residual to achieve a workable monthly repayment. With the current cheap interest rate climate, owning that sports car may be a more accessible option than you think. **For more information on sports car finance call Jade Car Loans on 1300 000 003 or apply online** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [RBA Rate Hold: Motor Vehicle Finance Outlook](https://www.jadecarloans.com.au/blog/rba-rate-hold-motor-vehicle-finance-outlook) **Published:** April 11, 2022 **Author:** Publisher **Content:** Anyone with a home mortgage or considering taking on a loan including motor vehicle finance will have been staying across the discussion around interest rates. The Reserve Bank (RBA) has kept the official cash rate ‘on hold’ at a record 0.1% since November 2020. But in recent months, the economic conditions are increasingly reaching the RBA’s targets for a rate rise. There are strong indications that a rate rise will occur in the very near future. But at its April meeting, the RBA Board left the rate steady again at 0.1% which was not unexpected. But there is a slight change in the comments in the statement delivered with the rate announcement. The key point picked up by analysts and regular watchers was the omission of the phrase which the RBA has used in rate decision statements for many months – the *‘preparedness to be patient’*. Drawing the conclusion that an increase in the cash rate is on the way. As we have constantly mentioned in posts over recent months, those considering motor vehicle finance for new car purchases should act as quickly as possible to ensure they achieve the cheapest rates before the rise. We provide a summary of the [RBA April 2022 statement](https://www.rba.gov.au/media-releases/2022/mr-22-11.html "Read the Official Statement from the Reserve Bank of Australia for April 2022") and the outlook for motor vehicle finance with the prospect of interest rate increases in coming months. ## Reserve Bank of Australia – April 2022 Statement The RBA Board met as scheduled on Tuesday 5 April to make a decision on interest rates. In announcing the decision, RBA Governor Lowe noted that in many areas of the world there had been a sharp increase in inflation and the supply chain issues, Ukraine invasion as well as strong demand are contributing to this pressure on prices. Key points from the statement:- - Australian economy continues to show resilience. - Pick-up in spending, increase in investment by business. - Unemployment at 4% and RBA forecast for a fall below this rate during 2022 and remain there in 2023. - Further increase in wage growth expected but only gradual. - Higher petrol prices and other goods will further increase inflation in the coming periods. - Lending conditions remain accommodative with low interest rates. In the coming months the RBA will have available additional data and evidence regarding inflation and labour situation. This evidence will be assessed by the Board. As mentioned above, no mention of being patient while inflation and unemployment targets are reached. ## Outlook The RBA Board holds their next meeting on rates on first Tuesday in May. This will be in the middle of the Federal Election campaign. While the RBA is independent of Parliament/Government processes, it is widely considered that it would be unlikely that the Board would act in May. The major banks have all tipped the 7 June RBA Board meeting for a rate rise. But, be mindful, this may be the first rate rise not the only rate rise in 2022. It is not inconceivable that the RBA could lift the cash rate on several occasions into the future. In fact, some of the country’s leading banks have tipped that this will be the case. Reports quoting them saying possibly four or five cash rate increases could occur over as little as a six month period. ## Rate Rises and Car Loans Will a rate rise mean the end to Jade’s [affordable business car loan interest rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Cost-Efficient Business Auto Loans")? Cheap is a relative concept and we have always adhered to our policy of achieving the cheapest rates, regardless of the market situation. When the [RBA](https://www.rba.gov.au/) lifts the official cash rate this will flow through to rate increases in lending markets. Interest rates have not actually increased for over 12 years. So for many car buyers, this will be a new experience. After the question of when will rates rise is resolved, potential buyers should be asking by how much will rates rise? This can be key to car buying decisions. When cutting the cash rate in 2020 especially, the RBA did so in small increments of 0.15% etc. The rises may also be in small increments. Those increases then flow through to the lending markets. This is where it is up to the individual banks, finance companies and other non-bank lenders to adjust their interest rates. Lenders will make their own decisions on whether to pass on the full rise, part of the rise or raise their rates at an even higher rate. This will flow through to the motor vehicle finance sector. Those planning a car purchase with finance can use our [business car finance calculators](/car-finance-calculator "Access Our Tools for Calculating Financing Options for Commercial Vehicles") to see how an incremental difference in rates impacts the repayment estimate for certain loan amounts. Buying decisions may include considering a lower priced vehicle to maintain the repayment target being sought or to rework business or household budgets to allow for any increase. Business buyers can also adjust the balloon/residual to reduce the monthly repayments to allow for an increase in interest rates. ## Achieving Cheapest Motor Vehicle Finance Rates The availability of new motor vehicles has been a major obstruction for buyers keen to buy new cars over the past few years. Quite an annoyance while rates are low and for business buyers, EOFY is approaching. Conditions which make it the ideal time for acquire new vehicles with finance. Regardless of lending rates, Jade Car Loans has always adhered to our [better interest rate policy](/why-jade-car-loans "Link to a More Favorable Interest Rate Strategy"). Our consultants will always source the cheapest rate available from across the market. There are actions that buyers can take to ensure they achieve the required motor vehicle finance deal. We’ll address these in detail in an upcoming post. For those that can source the vehicle they want now, getting in quick, before the predicted June rate rise is highly advisable. **Contact Jade Car Loans 1300 000 003 for a quote on personal or business motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Best Selling Cars March 2022 Figures](https://www.jadecarloans.com.au/blog/best-selling-cars-march-2022-figures) **Published:** April 11, 2022 **Author:** Publisher **Content:** For those in the market for a new car, checking out the monthly best selling cars sales figures can be a great way to stay across the market. Possibly for ideas for vehicles you haven’t considered or to assist in the decision-making process by seeing what other buyers have selected. But in this current ‘availability crisis’ market, the sales figures may just reflect which brands managed to finally hand the keys to buyers that have waited months for delivery. Whatever the purpose, reviewing the best selling cars data can be a worthwhile process and the latest March 2022 car sales figures show a downturn in petrol-powered cars. The automotive industry body, [FCAI](https://www.fcai.com.au/ "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") (Federal Chamber of Automotive Industries) releases the monthly data and we take a look at what makes and models top the sales charts for 2022 and for the month of March. ## March Car Sales Statement – FCAI Despite availability issues, over 100,000 new vehicles were delivered to buyers in March which is a small decrease compared with the same period in 2021. The Chief Executive of the FCAI Tony Weber said that the result could be seen as ‘relatively stable’ considering the challenges in the global auto sector. Mr Weber said that this was a historic time as the supply side rather than the demand side was determining the market. He said this was a result of manufacturers still in recovery mode from the shutdowns caused during the pandemic and the computer chip crisis which was ongoing. The FCAI particularly noted that the March 2022 sales figures see, for the very first time, leading EV brands [Polestar](https://www.polestar.com/au/ "Explore the Official Website of Polestar for More Information") and Tesla reporting their figures. While this is a great move, the FCAI cautioned that Tesla figures reported in the March figures was for sales over the first 3 months of the year. The inclusion of Tesla data also impacts the reading the year to date sales figures per brand. In general vehicle categories, passenger vehicles are up 3% compared with March 2021; SUVs down very slightly; and light commercials up 4%. ## Brands and Models: March Top Sellers For keen buyers, now down to the nitty gritty of which brands and which models head the sales charts. No real surprises with Toyota heading the brands again, with Mazda second and Mitsubishi third. They were followed by Hyundai and Kia. The top ten motor vehicle brands on a year-to-date basis are Toyota; Mazda; Mitsubishi; Kia; Hyundai; Ford; MG; Isuzu Ute; Nissan; and Subaru. For March 2022 the iconic HiLux was the biggest selling vehicle followed by the RAV4 and then Mitsubishi’s Triton. Next came the CX-5 from Mazda, Tesla Model 3, Ranger, Hyundai i30, D-MAX, Prado and Corolla. With Tesla and Polestar now reporting their sales figures to VFACTS, it will be interesting in coming months to get a better handle of the take-up of EVs on the Australian market. The recent surge in petrol prices will also no doubt be a contributing factor with many motorists possibly had enough of the constantly varying price at the pump. The roll-out of more charging stations will also assist EV sales. But as we mention each time we post an article about motor vehicle best-selling data, the figures need to be considered in the right context. That context being availability. Toyota has consistently won out in the top brand for a very long time and with several models in the top ten. So for buyers keen to get their hands on a new car asap, possibly a convo with a Toyota dealer about availability is in order. Though there were recent reports of extended waits for some Toyota models especially the RAV 4. ## Car Loans and Finance Options and Outlook The figures do show the market is continuing its love for SUVs and utes. The Budget announcement that the IAWO will continue through to 30 June 2023 is likely to further drive sales of business vehicles. IAWO (Instant Asset Write-off) aka temporary full expensing, allows for businesses to fully deduct the cost of eligible assets such as vehicles in the year that it was purchased. Normally the purchase price/value would need to be depreciated incrementally over a number of years. This can be especially beneficial when considering [commercial car finance options](/business-car-finance "Discover Diverse Financing Choices for Business Vehicle Needs"). But to take advantage of this tax measures, businesses need to select the appropriate form of finance. [Car Chattel Mortgage](/car-chattel-mortgage "Explore Financing Solutions for Vehicle Chattel Mortgages") is considered the most suitable for this purpose. With this finance product the vehicle ownership is immediately transferred to the borrower and the value of the asset entered on the business balance sheet. As such, the asset is subject to depreciation under the schedules set out by the ATO. For business where Chattel Mortgage does not suit their objectives, we also offer [Business car Leasing](/car-lease "Discover Leasing Solutions for Commercial Vehicles") and Hire Purchase. For buyers of new private vehicles, the [Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") is the most widely used car loan product. To assist in the purchase process, use our Car Loan Calculators to work up repayment estimates on different best-selling vehicles. Alternatively, get straight into it and speak with one of our consultants for pre-approved car finance. **For a finance quote on a best-selling motor vehicle call Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Ways to Secure Cheap Car Finance after Rates Rise](https://www.jadecarloans.com.au/blog/ways-to-secure-cheap-car-finance-after-rates-rise) **Published:** April 18, 2022 **Author:** Publisher **Content:** A rise in interest rates is now looking inevitable. The lending market has been at record low rates since November 2020. While Jade Car Loans will always secure the cheapest rate available to suit individual requirements, we source loans from across our lender panel. It’s vast, which provides us with more choice. But when lenders respond to [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") increases in the official cash rate, the car loan rates will follow. By how much is yet to be seen. While a rate rise is inevitable there are actions buyers can take and assistance available to ensure cheap car finance is secured after interest rates rise. As experts in motor vehicle finance, we have compiled hints and tips for how you may go about that process and what support and assistance is available through Jade Car Loans to achieve the cheapest car loans possible. ## Bring Forward Purchase Plans Stock of motor vehicles has been seriously impaired due to pandemic supply chain problems. Many dealers have full order books with keen buyers having to wait months for delivery of some makes and models. The flood situation in NSW and Queensland has only added to the problem. Thousands of vehicles were lost in the deluges and those owners will also be joining the search for a new car. While it may sound obvious, if you have been hanging out for that preferred vehicle to arrive, possibly it’s time to reassess the situation. Revert to Plan B, C and D with your preferences. Ring around dealers to see what vehicles are available to driveaway today. You will find many dealers have a ‘check our stock’ facility on their website. This is a quick and easy way to see exactly what vehicles they have to sell right now without having to make multiple phone calls or showroom visits. Remember, you can always upgrade in a few years to your first preference when supply issues are resolved. Buying now, before interest rates start to rise in possibly June, could represent a marked difference in repayments. Differences which can add up when you calculate them over the number of months of repayments of the loan term. ## Shift Focus While we as brokers focus on achieving better interest rates, the most significant factor to buyers with their car loans is very often the loan repayments. This is the amount needed to meet each month and can impact household budgets and business cash flow. Shifting focus to address target repayment amounts can be a way we can assist buyers in achieving workable, cost-effective car loans. Finance that is ‘cheap’ when put in context of regular outgoings. There are a number of ways to look at this, which can include: - Loan Term: a longer loan period reduces repayments. More interest is payable, but a more workable monthly outgoing may be achieved. - Finance Structure: businesses can look at varying the amount of the balloon/residual to achieve a target repayment. - Reduce loan amount: while we can source ‘no deposit’ car loans, foregoing this and paying an upfront deposit will reduce the overall loan amount. This then reduces the loan repayments. Negotiating yourself with lenders on these matters can be challenging. Leaving the task to your Jade consultant can save you time and may deliver the desired outcome. ## Business Buyers: Reconsider Finance Type Business buyers have a range of [business car financing options](/business-car-finance "Explore a Range of Financing Choices for Commercial Vehicle Needs") to select from and each attracts a varying interest rate. If say the business has always opted for a Motor Vehicle Lease, considering if the cheaper-rated [sole trader car financing](/car-chattel-mortgage "Discover Vehicle Financing Tailored for Independent Business Owners") may suit the business could be a money saver. ## Calculate in Tax Benefits Businesses can also work the tax deductions realised from different finance products into the overall ‘cost’ of motor vehicle finance. Currently IAWO and [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn About Immediate Asset Deductions for Businesses") are available which offer significant tax deductions to eligible businesses. ## Improve Credit Rating If you’re planning a vehicle purchase with finance down the track, then now is the time to see if you can improve your credit rating. The interest rates that you will see advertised by lenders, including Jade Car Loans, will predominantly be for applicants that have a good credit rating. When rates go up, that good credit score will become even more important to ensure you are offered the lowest possible car loan interest rate. That goes for businesses and individuals. What can you do? Refer to [Moneysmart](https://moneysmart.gov.au/ "Explore Financial Wisdom on the MoneySmart Website") for ideas and actions, which may include:- - Reduce current debt levels including credit card balances. - Address any errors which may appear in your credit report. There are set processes which can be used to fix credit report errors. - Maintain a good payment record for current commitments. That includes utilities payments, mobile phone bills, rent, home loans and credit cards. ## Pay Greater Attention to Loan Application Loan applications request information about assets and liabilities. If completing these types of forms in a hurry it can be easy to forget or overlook some details. Take stock of what you own and what you owe ahead of applying to ensure you have included all of your assets. Lenders may look more favourably on a more complete and thorough application form. That more favourable outlook may mean a cheaper interest rate being offered. Your Jade consultant will guide you through this process. ## Utilise Expert Assistance and Support Lending interest rates across the board have been at very low and record lows for a long time. In fact, the RBA has not raised the official cash rate for over 12 years. When rates start to rise, it will be important than ever to source the cheapest finance. Using our broker-style resources and support can be extremely beneficial to the process. Car finance broker services are not just for businesses. Individuals purchasing private vehicles are most welcome to utilise our services. We hope this information has been helpful and to discuss further how we can assist you secure cheaper motor vehicle finance please have a conversation with one of our consultants. **Contact Jade Car Loans on 1300 000 003 for a quote on personal or business motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Used Car Finance Options and Alerts](https://www.jadecarloans.com.au/blog/used-car-finance-options-and-alerts) **Published:** April 18, 2022 **Author:** Publisher **Content:** When replacing vehicles there are often two camps – those that will always buy new and those that will always buy a used vehicle. There are positives in both these decisions. But in recent years, with the supply of new vehicles restricted due to supply issues with the pandemic and computer chips shortage, many diehard new car buyers have or are considering changing camps. If considering the purchase of a second-hand motor vehicle there are issues to take into account re used car finance options and other matters. ## Pricing and Value One of, if not the most important issues which has been widely reported is the soaring demand for used cars during the past two years of the pandemic and microprocessor shortage. New car stocks are thin on the ground as manufacturers deal with the computer chip problem and shutdowns. In the law of supply and demand, this has pushed up prices significantly. Making some prices of vehicles that are several years old approaching or higher than the same brand new model. While there are buyers that are willing to purchase at these prices, issues may arise in relation to the value of the vehicle when it comes to finance and insurance. If the lender perceives the value of the vehicle is not in line with the loan amount being requested, the lender may request the loan amount be reduced. This would mean buyers having to pay a deposit. Insurance is required on all vehicles purchased with finance. The policy/insurer will establish the value of the vehicle. If a higher than value price has been paid, this may impact the policy and pricing. ## Loan Types and Finance Products Jade Car Loans offers a full range of used car finance products for both private and [business car loans](/overview-of-business-car-finance "Discover Financing Solutions for Commercial Vehicle Loans"). Used car finance includes:- - Secured Car Loan and Unsecured Personal Loan for private buyers. - [Car Chattel Mortgage](/car-chattel-mortgage "Explore Financing Options for Vehicle Chattel Mortgages"), Lease and Commercial Hire Purchase for business buyers. While the loan types are the same as for new vehicles, there are a number of variations. Interest rates vary on new v used vehicles (see below for coverage of this point). Lenders take into account the age and condition of vehicles when assessing an application. Their assessment may result in not approving the full loan amount requested or not accepting the vehicle as security for the finance. If the vehicle is not accepted as security, your Jade consultant can source a quote for an [Unsecured Personal Loan](/unsecured-personal-loans "Access Financing with No Collateral Required - Unsecured Personal Loan"). ## Used Car Finance Lender Market As with new car finance there are many lenders in the market. Banks, finance companies and many used car dealers now offer finance. The interest rates, fees and charges and loan details can vary depending on individual lenders. Jade Car Loans is accredited with many banks and non-bank lenders so we do have the access and the capability to source the cheapest used car loan offer. While the lending market is highly competitive, buyers should always consider the fine print of the offer document for any untoward or excessive charges. If made a loan offer from say a dealer when inspecting a vehicle, astute buyers are those that contact another lender for a competitive quote or better still, hand the loan sourcing over to a broker to ensure the cheapest offer is achieved. ## Unsecured Loans If a lender does decide that the vehicle is not suitable as security, does an unsecured loan mean it is ‘unsafe’? No. The ‘secured’ or ‘unsecured’ reference in finance relates to the security for the lender. The loan is secured or guaranteed by the goods. Unsecured simply means that no security by way of the goods being acquired is provided. Lenders may request additional security in some form of property or asset as guarantee against the loan. The interest rate on unsecured loans may also be higher than for secured loans. ## Used Car Loan Interest Rates When it comes to interest rates, the rates may vary with new v used vehicles. Unless specifically noted, the interest rates advertised by ourselves and other banks and lenders will be for new vehicles. The rate offered for second hand cars may be more. The other point to note on interest rates is credit rating. Most lenders will advertise their lowest available rate which is for applicants with a good credit profile. If seeking finance for a used vehicle, buyers can address their [credit profile](https://moneysmart.gov.au/ "Link to Your Financial History and Credit Record"). There are ways to fix errors in credit profiles and if planning ahead, a credit score may be able to be improved by reducing the amounts owed on other loans and debts and by ensuring all bills are paid on time. This shows lenders that the applicant has a good repayment record. ## Buyer Beware: Updates One new issue which has recently emerged in regard to the used car market is flood-damaged vehicles hitting the market. Thousands of vehicles were impacted during the major flood event in Queensland and NSW. Some may have been uninsured or not written off completely. Owners may put them on the market to sell. These vehicles may appear for sale anywhere in the country, not just in the flood-affected states. Warnings have been issued by a number of authorities including Transport and Main Roads Queensland about damaged cars ending up in the market. Buyers need to be aware and always request or arrange an inspection certificate from a motoring organisation such as NRMA. Buyers can also search the topic online for hints of tell-tale signs to watch out for. When selecting Jade Car Loans to arrange your used car finance your consultant will advise you of a range of these issues as well as sourcing cheap finance. **For a finance quote on a second-hand motor vehicle call Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [World Car of the Year 2022 Awards Announced](https://www.jadecarloans.com.au/blog/world-car-of-the-year-2022-awards-announced) **Published:** April 25, 2022 **Author:** Publisher **Content:** A key part of being an avid motoring enthusiast is keeping up with the motor vehicle market both locally and at an international level. That can involve checking out reviews of latest models and the finalists and the winner of the various awards programs. One of the recent awards to be announced is the World Car of the Year Awards for 2022. While not all models in the World Car of the Year awards are available on the Australian market, local buyers may take brand buying tips from the winners. For those with more than a passing interest in the global motor vehicle market, we take a look at this prestigious international awards program and which car took out the 2022 winner’s nod. ## World Car Awards The [World Car Awards](https://www.worldcarawards.com/web/ "Explore the Latest Updates from the World Car Awards") is a not for profit group which operates with a committee and over 100 jurors globally. The objective is to recognise and reward excellence in the automotive industry. The awards have been running for 18 years and the organisers state that this program is not meant to compete with other national awards but to complement them. To be eligible to be judged for the various categories, vehicles must meet the criteria which for the Car of the Year category includes the production of a minimum 10,000 units per year in the judging period, be priced less than what is considered the luxury level in their main markets and be available for purchase in at least 2 of what they consider the major markets. The major markets being Europe, Japan, USA, Latin America, China, Korea and India and at least on two continents. The judging period for the 2022 awards is 1 January 2021-30 March 2022. With the issues which have faced the auto sector over the past few years, that may have seriously impacted which vehicles were eligible for inclusion. ## 2022 Winners This year’s winners were recently announced across the various categories:- - Car of the Year: Winner is Hyundai Ioniq 5 with finalists the Ford Mustang Mach-E and Kia EV6. - EV of the Year: Winner is Hyundai Ioniq 5 with finalists Audi e-tron Gt and Mercedes-Benz EQS - Urban Car: Winner is Toyota Yaris Cross with finalists Opel Mokka and VW Taigun - Luxury Car: Winner is Mercedes-Benz EQS with finalists BMW iX and Genesis GV70 - Performance Car: Winner is Audi e-tron GT with finalists BMW M3 M4, Toyota GR86 and Subaru BRZ - Design of the Year: Winner is Hyundai Ioniq 5 with finaalists Kia EV6 and Audi e-tron GT Impressive results for Hyundai and interesting announcements for those considering the purchase of a new vehicle. Specific voting results with scores given for the [different judging criteria](https://www.worldcarawards.com/web/2022_results.asp "Link to Varied Assessment Standards") such as innovation, safety etc can be reviewed at the awards website. ## Significance for Australian market These are of course ‘world’ awards so how significant are the winners for Australian car buyers? As mentioned above, due to the eligibility criteria, not all the finalists or winners will be for sale in Australia. However, different variations of these vehicles may make it to the local market. But for buyers, seeing which manufacturers are considered winners can provide insights and direction to narrow down their selection. Auto brands can utilise Car of the Year awards to spruik their manufacturing, safety, innovation and general quality credentials. These may assist buyers to look at brands or individual models they may not have otherwise considered. In the case of the 2022 outcome, [Hyundai](https://www.hyundai.com/au/en "Visit the Official Hyundai Website for More Information") has definitely captured the judges eye with the Ioniq 5 taking out a number of awards. The Hyundai Ioniq range is available in Australia with a number of variations. Whether these are the specific award winners – you’ll need to check specs to find out. Mercedes-Benz also did well as did Audi and the very popular Toyota Yaris Cross. The Yaris has been a popular model for Toyota in Australia and will be well-known to many buyers. Of note is the predominance of EVs in the finalists’ lists. Australia has not been as fast as many other countries in the take-up of EVs but this could be another clear sign of the direction that manufacturers are going. Food for thought for buyers! ## Acquiring Your Own Car of the Year Finance for Hyundai, Audi, Mercedes-Benz and Toyota models in Australia is available through Jade Car Loans. Loan types: - Private Buyers:[ Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") is the most commonly used loan type for new vehicles being purchased for private use. - Business Buyers: The choice is wider with Hire Purchase, Lease and Chattel Mortgage in our [portfolio of finance options](/car-loan-products "Explore a Range of Financial Choices in Our Portfolio"). The motor vehicle finance market is extremely competitive and with the record low interest rates still available, cheap interest rate car loans can be achieved. Meaning, it may not cost the earth to acquire your own world car of the year. Check out how much the loan repayments may be using our car loan calculators or just call for a quick finance quote. **Contact Jade Car Loans on 1300 000 003 for a quote on finance for a world car of the year finalist or winner.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Tax Time Prep: Motor Vehicle Finance Tax Deductions](https://www.jadecarloans.com.au/blog/tax-time-prep-motor-vehicle-finance-tax-deductions) **Published:** April 25, 2022 **Author:** Publisher **Content:** With not long to EOFY business owners will be looking to move to acquire new cars to realise motor vehicle finance tax deductions in this financial year. The timing also coincides with when it is highly expected that the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") will move to increase the cash rate. A move which will flow on to the motor vehicle finance sector and effectively signal the end to the historic low lending rates that have been enjoyed over the past 20+ months. Acquiring new vehicles now may deliver both cheaper interest rates than waiting a few months as well as benefits from a tax perspective. But the tax benefits vary across the range of business vehicle finance products. The choice of finance product can therefore be crucial in the cost-effectiveness of the vehicle purchase. How the purchase impacts the business bottom line and as such profitability and productivity. This summary of the tax deductibility of different elements of the various types of finance available for business vehicles is provided to assist buyers by providing insights for choice of finance product. While we are specialists in business finance, our role is primarily to source, negotiate and structure car loans based on our client’s brief. We advise business owners to consult with their accountant or finance officer if unsure of which loan type will deliver the overall optimal benefit to their business. The finance types we are comparing are:- - [Sole trader Car Financing](/car-chattel-mortgage "Discover Vehicle Financing Tailored for Independent Business Owners") - Motor Vehicle Lease - [Motor Vehicle Hire Purchase](/commercial-hire-purchase "Explore Options for Vehicle Acquisition through Hire Purchase") These finance products are available for the purchase of vehicles deemed for use in a business and include passenger vehicles, sedans, SUVs, utes, all models of cab chassis, light commercial vans and others. ## Loan Interest Tax Deductions The interest portion of motor vehicle finance is considered a tax deductible expense for all of the finance products being considered. Monthly payments will include an interest component and component covering repayment of the loan amount. ## Finance Repayment Deductions With Leasing, the monthly lease payments are considered as a business expense and fully tax deductible. That includes both the interest component and the loan repayment component. With Chattel Mortgage, the entire total of the monthly repayments is not tax deductible. The interest component is tax deductible as noted above. The balance is not deductible. Refer to our point on depreciation for the major tax benefit of this type of finance. ## Depreciation Tax Benefit Depreciation is a tax benefit on the acquisition of business assets. The asset, in this case the motor vehicle, is depreciated by a certain percentage each year over a set number of years. The amount being depreciated is a tax deduction. The [ATO](https://www.ato.gov.au/ "Visit the Official Australian Taxation Office (ATO) Website") establish depreciation schedules. In order for the vehicle to be ‘depreciable’ it needs to be listed on the balance sheet of the business and that means the asset needs to be acquired using the appropriate form of finance. That is considered to be Chattel Mortgage. *Quick update: with Chattel Mortgage ownership of the motor vehicle is immediately transferred to the borrower at settlement. This means the vehicle is posted to the balance sheet of that business. With Leasing the lender retains the ownership to the vehicle and as such the vehicle is not posted to the borrowing business balance sheet. As such it is not a depreciable asset for that business.* So with Leasing the repayments are tax deductible but with Chattel Mortgage the major deduction is realised through depreciation. ## Treatment of GST GST is a tax and how it is treated with the purchase of a motor vehicle may be significant to some operators. With Chattel Mortgage the full amount of GST applicable to the purchase price of the vehicle can be claimed on the next corresponding BAS. That may be a significant plus if the business has a large GST obligation in that period. That obligation may be significantly reduced by the GST deduction for the car and ease cash flow for the BAS payment period. With Leasing the GST is applied to each of the monthly lease payments. That component of the payments can be claimed on the correct/corresponding BAS. Whether that be paid monthly, quarterly or annually. ## Temporary Tax Measures In addition to ongoing tax benefits that can be realised through business asset purchases, from time to time the Government introduces temporary measures. Most recently that has occurred with the introduction of Instant Asset Write-Off and temporary full expensing. These measures allow for the full cost of eligible assets purchased by eligible business enterprises to be full expending or deducted in the same year that they were acquired. This only applies to assets which would normally be depreciated in line with ATO schedule. To acquire vehicles with the intention of utilising IAWO, Chattel Mortgage should be considered as the most suitable form of finance. These temporary measures are currently in place until 30 June 2023. ## Selection Considerations While achieving the most effective tax deductibility from motor vehicle finance, there are a number of consideration that businesses should cover off in selecting finance products:- - Accounting method used by the business is suited to the finance product. - Overall financial and business objectives of the operation. - Individual businesses will need to meet ATO criteria in regard to tax deductions. We have discussed business vehicle finance in regard to tax deductions as in general terms car loans made by private individuals for vehicles for private use are not considered tax deductible. Where a private vehicle is used for business purposes, owners should consult with their accountant and/or employer as to what can be claimed or compensated for. **To acquire motor vehicles in this financial year at the current cheap interest rates call Jade Car Loans 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [No pay rise? Consider a Novated Car Lease with Salary Sacrificing](https://www.jadecarloans.com.au/blog/no-pay-rise-consider-a-novated-car-lease-with-salary-sacrificing) **Published:** May 1, 2022 **Author:** Publisher **Content:** Slow wages growth has been a hot topic in political debates for some time. While some industries are struggling to fill job vacancies and suffering labour shortages, there are reports of higher wages being offered in some sectors. But for many others, a pay rise may not be on the horizon. For employers still struggling to recover from the pandemic downturn, offering pay rises may not be viable at the moment. Novated Car Lease with Salary Sacrificing is a finance product where employees can acquire a car, potentially pay less tax and employers realise tax benefits. The name ‘novated’ may sound complex and frighten some people off. But don’t worry, it is really quite a straightforward concept and widely used. Novated Car Lease with Salary Sacrifice is a motor vehicle finance product which involves an employee, their employer and the lender. The employer makes the lease payments and the employee sacrifices part of their wages to cover those expenses. When all payments are made on the lease, the ownership in title is transferred to the employee. We are specialists in business vehicle finance and will handle both sourcing the best offer and structuring the finance to best suit all parties. We provide this simple explainer with the basics of Novated Car Lease with Salary Sacrifice works so those interested may consider if this an attractive form of motor vehicle finance for their requirements. ## Rationale The main objective of a pay rise from the employee perspective is usually to achieve more each week in their pay packet. But often an actual increase in the gross wages can mean a move to higher tax bracket. And while yes, there will be more net wages there is also more tax payable. By sacrificing part of gross wages towards the finance repayments with a Novated Car Lease with Salary Sacrifice it may mean moving to a lower tax bracket and hence less tax is payable. In some cases that can mean relatively more dollars each week. In addition, the employee is moving towards car ownership. The alternative scenario is for employees to purchase a new car on their own with a [Secured Car Loan](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") which does not usually represent any tax deduction to the individual. Any use of a private vehicle for business purposes would require a compensation for mileage to be arranged between employee and employer. From the employer perspective, the prospect of providing an employee with a fully-funded company vehicle may not be viable or appropriate for their role. A company vehicle may not be of significant benefit to the employee for their out-of-hours requirements. FBT may also be applicable where company cars are used by employees for private use. ## Novated Car Lease: How it works Any confusion or reticence to pursue a Novated Lease with Salary Sacrifice may derive from the name – novated. In the financial sector there are some technical terms which are not readily used in normal conversation. Novated is a term which means ‘replace’. In this instance, the buyer being the employee is replaced by their employer in the motor vehicle finance agreement. As this finance arrangement involves both the employee and employer, clearly both parties will need to agree. But, in general terms, the employee can choose the vehicle that they wish to purchase. Though the price or threshold may need to meet employer approval and any other applicable [ATO](https://www.ato.gov.au/ "Visit the Australian Taxation Office (ATO) Website") guidelines. From the time of purchase and settlement of the lease agreement, the employee has full use of the vehicle. The employer takes on the vehicle lease and pays the relevant costs of the finance payments and other expenses on the vehicle. The employee gives up or sacrifices that amount from their salary to cover the payments. So the employer deducts the relevant amount from the employee’s wages for the lease payments and other costs. The amount sacrificed from salary is deducted from gross wages which may move the employee into a lower tax bracket. If so, a reduction on total tax payable may be realised. In making the lease payments and the expenses involved in maintaining the vehicle, the employer receives the relevant tax deductions. At the end of the lease term the residual needs to be finalised. At that point, when the finance is finalised with all required payments made, the employee takes full ownership of the vehicle. ## Securing a Cost-effective Novated Car Lease While both employee and employer stand to receive benefits from this type of finance arrangement, both parties will still be seeking the cheapest interest rate possible. Your Jade consultant will handle sourcing the best offer and negotiating with our lenders to structure a lease which best meets the requirements of both employee and employer. **Contact Jade Car Loans on 1300 000 003 for a more in-depth discussion of Novated Car Lease with Salary Sacrifice and how it may suit your objectives.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [When car finance interest rates rise, so does importance of a good credit score](https://www.jadecarloans.com.au/blog/when-car-finance-interest-rates-rise-so-does-importance-of-a-good-credit-score) **Published:** May 1, 2022 **Author:** Publisher **Content:** When considering car finance, one of the key points to note is the interest rate. In particular, the fact that unless otherwise stated, the lowest interest rate advertised by most lenders will refer to applicants with a good credit rating. When car finance interest rates rise following any [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") rises so does the importance of credit scores as the cheapest rates are offered to good credit profiles. A credit rating essentially is a rating of risk. The lower the rating the higher the risk. The higher the rating the lower the risk. The lower the risk the lower the car finance interest rate. To ensure car finance applicants are offered the cheapest possible interest rate loans, they will want to ensure they have the highest possible credit rating. There are very strong indications that the Reserve Bank of Australia (RBA) will start to raise the cash rate very soon. Any moves by the RBA typically flow on into the lending sectors. Subsequently, that means that interest rates on most new loans and finance will be lifted. By how much will depend on the individual policies and approaches of banks, finance companies and other non-bank lenders. To assist car finance applicants we provide an explainer of credit profiles and ratings, how they impact the loan offer, how to access a copy, how to address issues with credit scores and individual and business balance sheets and how to achieve the cheapest interest rate car finance. ## Car Finance Rates and Credit Rating Lenders assess the credit score or rating of loan applicants when preparing a car finance offer. A low credit score or rating is taken as a sign that the applicant is a higher risk. A good credit rating is a sign that the applicant is a lower risk – they have a proven track record of repaying debts, have less money borrowed and other issues. Higher risk applicants may be typically offered a higher interest rate than a lower risk applicant. The difference in that interest rate may add up to a considerable amount over the loan term. When rates in general across the lender market rise due to RBA moves, it can become more important than ever to maintain a good credit rating. ## Credit Score: Explainer The terms credit score and credit rating are essentially interchangeable, they are the same. Anyone that has ever applied for a loan or credit, taken out finance, has a credit card or an account with a utilities or telco provider will likely have a credit report. The report is the entries or history of your information in regard to repaying debts and bills and applications for finance. It includes details of repayment history and any defaults on bills, loans and credit card payments as well as applications for finance. The score is a band or number which is calculated based on issues including the amount of money that has been borrowed; how many applications for credit have been made; and whether or not payments are made in a timely manner. Scores can range from zero as rated as poor or bad credit score up to 1,000-1,200 being the highest. Credit reports are held by Credit Reporting Agencies including companies such as Experian, Equifax and Illion. Credit providers such as banks, utilities providers, finance companies and others report to these agencies with data about the payment history and loan applications made by individuals. This data is collected and represents the credit report or profile. ## Sourcing Credit Profile Free copies of credit profiles can be obtained. There are numerous ads which offer to provide credit profiles for a price. Before clicking through to these, check out the free of charge options. For quality and reliable information on credit profiles and scores, refer to the Federal Government website [Moneysmart](https://moneysmart.gov.au/ "Access Financial Wisdom on the MoneySense Website"). Credit profiles can be acquired through recognised Credit Reporting Agencies. Moneysmart advises that credit scores can be obtained at no charge from online providers including Canstar, Finder and Credit Simple. There are conditions attached such as agreeing to their privacy policy. If those conditions do not suit you, try another source. Moneysmart also advises to avoid a credit score provider that requests payment or asks for your credit card information. When a credit profile copy is obtained, the information should be checked to ensure it is correct and accurate. Any errors or wrong information which may appear can be fixed by request to the reporting agency. This is a free service. In this era of identity theft, it can be wise to check that all the entries on a credit report are actually yours. If there are loans or loan applications which are not yours, this could indicate an error or someone else is using your identity. ## Improving Credit Profile and Loan Interest Rate Another part of the overall credit profile is the individual or business balance sheet. This is the assets or goods, cash savings, investments and property owned compared with the liabilities, which are the debts and monies owed. When assessing applications for personal car loans and business vehicle finance, lenders will review the balance sheet of the individual or business. Prior to applying for car finance, it can be wise to address the balance sheet and see if there are any actions which can be taken to improve it. Some of the basics can include reducing debt levels. This may involve paying out any existing finance or loans and especially addressing commitments such as the amount on credit cards. By reducing debt the liabilities side of the balance sheet may be improved and that may improve the general credit profile and as such attract a better interest rate offer from lenders. The impact of any changes may take time to be reflected in the actual credit score but they should be clearly set out in the loan application. One very important way that we can assist the credit profile of individuals is with our broker-style motor vehicle finance services. The number of loan applications made by individuals are reported and can reflect negatively on a credit score. In the quest to get the best car loan themselves, individuals may typically apply for many loans. Not realising that while trying to achieve a good outcome they may be doing harm to their credit profile. When a[ Jade Car Loans](/why-jade-car-loans "Visit the Website for Jade's Car Financing Solutions") sources car finance offers from across our vast lender panel, it does not have the same impact on the credit rating as multiple applications made by an individual. Using our services can assist in achieving the cheapest interest rate car finance, regardless of the general market trends, as well as saving our customers time and importantly, affecting their credit rating. Interest rate increases due to RBA decisions are unavoidable. But there are steps that those seeking car finance can make to ensure they will achieve the [lowest business car financing rates](/car-finance-interest-rates "Discover the Most Competitive Interest Rates for Commercial Auto Financing") on their car loan. **For better interest rate car finance for private and business vehicles contact Jade Car Loans on 1300 000 003** **Categories:** Buying Tips --- ### [RBA Finally Moves: Interest Rate Rise](https://www.jadecarloans.com.au/blog/rba-finally-moves-interest-rate-rise) **Published:** May 9, 2022 **Author:** Publisher **Content:** After much speculation and expectation, the Board of the Reserve Bank of Australia (RBA) announced an interest rate rise at its 3 May meeting. This rate rise in the official cash rate while not unexpected, was notable for a number of reasons: it came in the middle of a Federal Election campaign, it was the first cash rate rise for nearly 12 years and it was surrounded with discussion about whether or not the RBA had left the move too late to address the surge in inflation. Many analysts and economists had been calling for a rise since mid to late 2021 to curb the over-heated housing market. But it was Australia’s better than expected recovery from the economic effects of the pandemic and the resultant surge in inflation which appears to be the deciding factor for the decision. The rise itself was not unexpected but the amount, 0.25%, did surprise many. That increases the cash rate from 0.1% to 0.35%. There seemed to be a general opinion that the rise would be in the vicinity of 0.15% and several other smaller rises follow. The question now is where to from here? Will there be further rises in coming months? The rationale of the interest rate rise by the RBA and indication of future intentions is covered in the statement announcing the Board decision**.** To assist those considering motor vehicle finance assess how the interest rate decision may impact their loans and buying decisions, we summarise the RBA May Board Meeting statement. ## RBA Board May 2022 Statement: Key Points The RBA Governor Philip Lowe issued the [monthly statement](https://www.rba.gov.au/media-releases/2022/mr-22-12.html "Link to Your Monthly Financial Summary") which follows each Board meeting and included the reasoning around decisions made at that meeting and the Board’s outlook moving forward. The key points in this statement include:- - Board judges that this is the appropriate time to start withdrawing some of the monetary support (ie, low interest rates) which was intended to support the economy through the pandemic crisis. - Resilience of the economy has seen a faster pick-up in inflation than expected. - Along with wages growth starting to pick up, the time is seen as right to commence normalising monetary conditions. *(To explain, the historic low rates were seen as support measures and the increase is returning rates to more normal levels.)* - Unemployment declining to current 4% and expected to further drop to 3.5% by the early part of 2023 and then stay around that level. The Board notes this unemployment rate as the lowest in nearly 50 years. - Economic growth outlook is positive although uncertainty exists around global impacts. - The Board notes uncertainties in regard to COVID-19 in particularly in China; Ukraine war; higher inflation globally reducing consumer buying power. - In the [accompanying speech](https://www.rba.gov.au/speeches/2022/sp-gov-2022-05-03.html "Access the Speech Companion Document Here"), Dr Lowe also noted the domestic issues around rising inflation. These include areas of strong demand place pressure on capacity. Businesses having issues sourcing workers which in turn places pressure the business performance and firms then passing on cost increases to consumers. - Pick-up in inflation significant and greater than expectations, though lower than many advanced economies. - Rise in inflation seen largely as reflecting global issues. - Further inflation rise expected but then decline as supply issues resolve. - 2022 inflation central forecast 6%, underlying inflation 4.75%. Mid-2024 – underlying 3% - A point to note especially is the Board stating that its forecasts for inflation are based on assuming there will be further interest rate increases. - Evidence indicating wage growth through wage increases is happening in private sector. In closing, the RBA Board said it was committed to doing what is required to see inflation return to the target level. In order to achieve this, the statements says further increases in interest rates will be required in the time ahead. ## Car Loan Interest Rate Impacts As we have mentioned in many of our news blogs in regard to the general interest rate talk, much of the reporting does focus on the home loan market. Being this is the largest lending market, having variable rate loans and any rises will impact many people. But the rise in the cash rate will flow through to all lending markets. The major banks including a number of our lenders, CBA, ANZ and NAB reacted to the RBA decision by increasing their rates in some sectors and non-bank lenders will follow. This will include [business motor vehicle finance rates](/car-finance-interest-rates "Explore Competitive Interest Rates for Commercial Vehicle Financing"). A key issue to point out is that Jade Car Loans as a broker-style lender will remain ideally placed to secured better interest car loan interest rates due to our accreditations with multiple lenders. A major take-out from the RBA Board statement is the reference to further rises in interest rates. For those considering purchasing vehicles with finance, the advice would be to act sooner rather than delay. The RBA Board next meets to discuss rates on the first Tuesday in June. **Contact Jade Car Loans on 1300 000 003 for a quote on motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Securing Better Motor Vehicle Finance Rates Post-Rate Rise](https://www.jadecarloans.com.au/blog/securing-better-motor-vehicle-finance-rates-post-rate-rise) **Published:** May 9, 2022 **Author:** Publisher **Content:** The RBA increased the cash rate from 0.1% to 0.35% at its May Board meeting. The rise in the cash rate will now have a flow-on effect through to increases in lending rates across the markets including motor vehicle finance. Interest rates had been at historic low levels since November 2020 when the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") acted to cut rates as part of monetary policy stimulus measures. As noted by the RBA Board, the economic conditions are now in place to warrant normalising interest rates. In simple speak, the historic low rate market was not normal it was suited to the extraordinary circumstances caused by the pandemic. Now the economy has recovered, it’s time to get back to normal. Something most Australians are looking forward to doing themselves after years of pandemic restrictions. For car buyers, the burning question will most likely be if it will still be possible to achieve cheap motor vehicle finance rates post this RBA rate rise? From our viewpoint, we will continue, as we always have, to focus on achieving better car loan interest rates for our customers. The cheapest rate that meets the individual requirements and application details. Securing [better car loan interest rates](/car-finance-interest-rates "Explore Improved Auto Financing Interest Rate Options") on motor vehicle finance with workable repayments following the RBA rate rise is still possible if car buyers do their homework. We share insights into what actions buyers seeking the cheapest motor vehicle finance can do to ensure they secure the best loan to suit their requirements and circumstances. ## Utilise Expert Services and Resources Available With interest rates now rising, using all the services and tools available could become more important than ever to achieving the cheapest car loan. Both individuals and businesses have a number of resources at their disposal. When making major financial decisions such as purchasing motor vehicles with finance, for many individuals and businesses it can be extremely wise to seek professional advice and assistance. Jade Car Loans provides expert [motor vehicle finance broker services](/why-jade-car-loans "Access Professional Broker Services for Vehicle Financing") to assist our customers secure the cheapest and most suitable car loans. Utilising broker services can be a game-changer in the search for the cheapest interest rate car finance. Now the market is changing, buyers may be more astute in wanting to acquire a number of finance quotes to ensure they have the cheapest. This is extremely wise but may have drawbacks. Reports to credit reporting agencies which may reflect negatively in the credit report. When this process is handled on your behalf by our consultants, the quote requests are not reported to agencies. This means our customers have the advantage of having their loan quote sourced from across many lenders without the negative impact on their credit report. With rates on the rise, lenders will make their own individual decisions around how much to increase rates in their lending markets. Through using our professional services with our multiple accreditations, customers receive comprehensive coverage of the loan market in securing the cheapest interest rate car finance. These services are available for both personal car loans and business motor vehicle finance. Using the services of an accountant or financial advisor may also be advisable. Particularly in the choice of motor vehicle finance product by business owners. The interest rate varies across the range of [business financed cars](/overview-of-business-car-finance "Discover Financing Solutions for Commercially Funded Vehicles") – Chattel Mortgage, Leasing and Commercial Hire Purchase. With rates rising, business operators may want to look more closely at the suitability of say a lower rate finance product for their business. All buyers can also access extremely useful loan tools including our Interest Rate Comparison Table and our [business car loan Calculator](/car-finance-calculator "Calculate Commercial Vehicle Financing"). These allow buyers to compare rates and loan offers with what we can offer and to plan how they would prefer their car loan be structured in regard to loan term, balloon and deposit or no deposit. Another tip: check all the details and fine print of any offers made, especially at the dealer level. Compare them with what we can offer to ensure you are receiving not only a better interest rate but the loan conditions that will suit you over the full term of the loan. ## Fixed Interest Rates Securing a fixed interest rate car loan as opposed to a variable rate loan can represent a saving over the term of the loan. While most car finance including the loan products offered by Jade Car Loans are secured at a fixed interest rate, there are products in the market offered at a variable interest rate. With a fixed rate, the rate secured remains unchanged over the full loan term. With a variable rate loan the lender can alter the rate in line with general rate moves. The RBA has quite clearly indicated that further rises in the cash rate are highly likely in coming periods. Buyers that opt for a variable interest rate loan run the risk of a higher rate and higher repayments in the future. ## Credit Rating The cheapest interest rates, those advertised by lenders, tend to be for loan applicants with a good credit rating. Unless otherwise specified such as for Bad Credit Car Loans. So fixing any errors in a credit report and maintaining a good credit score is very important to ensuring the cheapest interest rate car loan offer is received. Individuals and businesses can also improve their prospects of achieving a better interest rate by reducing their current debt levels including credit card balances and paying off other loans prior to applying for new finance. ## Timing the Purchase As mentioned above, the RBA has indicated further rate rises this year. So wherever possible, buyers should look to expediting their purchases to secure finance at the current rather than higher interest rates. We appreciate that car buying decisions have been frustrated with supply issues over the past few years. To achieve better interest rate car finance, for those that are still facing delays for their first choice, perhaps it’s time to consider other vehicles which are available to drive away now. Securing better motor vehicle interest rates will still be possible even after RBA rate rises where buyers do their homework and cover all bases. **For better interest rate car finance for private and business vehicles contact Jade Car Loans on 1300 000 003** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Buy a Best Seller with a Better Car Loan: April’s Top Selling Vehicles](https://www.jadecarloans.com.au/blog/buy-a-best-seller-with-a-better-car-loan-aprils-top-selling-vehicles) **Published:** May 16, 2022 **Author:** Publisher **Content:** Anyone in the market for a new car lately is keenly aware that it can be a challenge to find the vehicle of choice. A situation which has been frustrating as the car loan market has been experiencing the record low interest rate situation. But despite the high demand for new vehicles, the market in terms of sales figures, took quite a downturn for the month of April 2022. Sales across all vehicle categories dropped compared with March figures and April 2022 sales were down 12% compared with April 2021. As Chief Executive of the FCAI (Federal Chamber Automotive Industries) Tony Weber notes, these figures do not reflect demand in the new vehicle market. It is a supply issue and not one limited to the Australian market. Supply of new vehicles is an issue in the global market. Reportedly, some manufacturers are pausing orders while others are advising of further delays with production slowed. Downturns in sales were recorded by a number of the leading brands including Toyota, Mazda, Mitsubishi, Ford and Nissan. But despite posting lower sales for the month, Toyota retained its position as leading brand ahead of Mazda and then Mitsubishi. Despite the disappointing sales figures, over 80,000 Australians did take delivery of a new vehicle in April 2022. To be ready to commit to the purchase of a best-selling car when available be prepared by arranging a pre-approved personal car loan or business vehicle finance First, put the bad news about supply and availability aside and focus on which makes and models sold the most units last month. The best-seller lists can often provide an indication of what brands have stock available. But be mindful that it may also indicate delivery of back orders. ## Market Comment: FCAI In the statement accompanying the release of the [April 2022 motor vehicle sales vehicles](https://www.fcai.com.au/news/index/view/news/763 "Explore the Latest Data on Motor Vehicle Sales in April 2022"), FCAI’s Tony Weber noted the issues facing automotive manufacturers. Issues impacting both shipping and production. Mr Weber notes the continuing microprocessor shortages and the continuing fall-out from the pandemic. Many factories had to shut down during various stages of the pandemic and while trying to now ramp production back-up, they are being hampered by the supply of the computer chips. These are the issues which are affecting supply of new vehicles and creating long delivery times. ## Leading Makes and Models The makes and models that did make their way into the hands of new owners in April in the largest numbers are: top-seller for the month was the [Toyota HiLux](https://www.toyota.com.au/hilux) continuing the ongoing rivalry with the Ranger which came in second. The RAV4 came in third followed by the Mazda CX5 and then the Isuzu D-MAX. Making up the top ten were the Triton from Mitsubishi, Toyota’s ever-popular Corolla, Hyundai i30, then came the MG ZS and in tenth spot the LandCruiser. Not surprisingly, Toyota continues to lead the market on a brand basis both for the month and on a year to date (YTD) basis for 2022. Mazda slots into second position YTD then Mitsubishi, then Kia which posted an 8.3% increase for the month, followed by Hyundai, Ford, [MG](https://mgmotor.com.au/) with a trend-bucking 58% uptick, then Isuzu and finally Nissan. Plenty of info for those in the market for a new vehicle to consider. But in order to be ready to act and sign on the dotted line when you find that best-selling vehicle, buyers should be equipped with their motor vehicle finance sorted. Preferably a better car loan and pre-approved. ## What’s a Better Car Loan? A better car loan is the one that is individually sourced to suit your requirements and with the cheapest interest rate. To achieve those objectives, both individuals and business owners, including those looking for [low doc car loans](/low-docs-car-loans-for-business-vehicles "Streamlined Auto Financing with Minimal Documentation Requirements"), can utilise the services of Jade Car Loans. As specialist in the motor vehicle finance field, we can assist buyers through our strong bargaining power with lenders to negotiate the cheapest car loan interest rate and on those loan terms and conditions. Conditions which can often determine the difference between an OK loan and a better car loan ## Pre-approved Mitigates ROMO Pre-approved is the way to go if you don’t want to experience ROMO – the risk of missing out. With some makes and models in short supply, the buyer that presents at the dealership ready to sign may just secure their vehicle of choice ahead of the buyer that then needs to leave to arrange their finance. We can arrange pre-approved motor vehicle finance across our portfolio of loans:- - [Secured Car Loan](https://www.jadecarloans.com.au/secured-car-loans.php "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") - [Business sole trader car financing](/car-chattel-mortgage "Discover Tailored Vehicle Financing for Independent Business Owners") - Vehicle Leasing - Commercial Hire Purchase The application process is the same and most importantly the interest rate on pre-approved car loans is the same as for loans applied for after a sales commitment is made. While reviewing the best-selling cars for April to consider your purchase, refer to our Interest Rate Comparison charts and use our Loan Calculators to calculate rough estimates on possible repayments for each model. **Contact Jade Car Loans 1300 000 003 for better motor vehicle finance on best-selling cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Rate Hikes don’t have to mean Car Loan Repayment Hikes](https://www.jadecarloans.com.au/blog/rate-hikes-dont-have-to-mean-car-loan-repayment-hikes) **Published:** May 16, 2022 **Author:** Publisher **Content:** For those planning a new motor vehicle purchase with finance, one of the immediate reactions to the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") decision to raise the cash rate was possibly *‘oh no, that means I’ll need to pay more in repayments on my new car loan’.* A reaction which could mean further annoyance for those who have been on wait lists for delivery of their new vehicle only to now face the prospect of having to pay more than they anticipated in loan repayments due to the interest rate rise. But that doesn’t necessarily or in all instances have to be the case. New car buyers can look at varying different aspects of a car loan to ensure a rate hike does not increase their target finance repayments. For those with existing fixed interest rate car finance, the repayments would not be impacted by a lender rate rise during their existing finance term. This discussion focuses on new motor vehicle finance. Interest rates do attract the major attention in discussions and decisions around all types of finance including car loans. That makes sense as the interest rate does determine the overall total cost of the loan. But it may not be the figure that has the most significance to all those seeking motor vehicle finance. While acquiring the [cheapest interest rate car loan for business use](/car-finance-interest-rates "Competitive Rates for Business Car Financing") is the major focus for us as motor vehicle finance lenders, the focus for many new car buyers will be the monthly finance repayment figure. The greater relevance for many buyers is ensuring the repayment figure works with their household budgets or business cash flow. An issue which has become even more important with the recent surge in costs of living. We discuss the ways that new car loan applicants can consider varying different elements of the loan to achieve that target repayment level that will work with their other expenses. ## Achieving Cheapest Car Loan Interest Rates Before getting into a discussion of the loan elements, we need to stress that achieving the lowest interest rate for a car loan is key to a cheap car loan. The rate determines the total interest payable over the full term and hence the overall cost of the finance. A few key points to keep in mind when considering how and from which lender to source car finance:- - The lowest rates advertised by lenders will, unless otherwise indicated, be for applicants with a good credit rating. Keeping a [credit score](https://moneysmart.gov.au/ "Link to Your Personal Credit History and Rating") in the good range can be incredibly important to being offered the cheapest interest rate loan. - Car finance rates will vary across the lending market. A broker-style lender like Jade Car Loans has the ability to cover off on a vast section of the market quickly, easily and professionally. Saving you time and effort and without risk to impacting your credit score. - Loan applications can be reported to Credit Reporting Agencies for inclusion on a Credit Report. Making multiple applications for the same loan may appear negatively on the report. - ‘Too good to be true’ interest rate loans may conceal costly conditions. No interest rate loans should especially be approached with exceptional caution. Often these types of offers may have that zero rate only for an introductory or initial period. After that time the rate may jump to an exorbitant level. These types of loans may also have higher fees and charges. - Fixed interest rate car finance typically means that rate is locked in for the entire loan term and won’t change with any rises in the cash rate and lender rates. A variable interest rate loan can increase in response to changes in rates by the RBA and then lenders. ## Term of the Loan Now to a discussion of how the structure of a loan can be varied to achieve the target repayment amount. One aspect is the loan term. That is the number of years or months to repay the loan. A longer loan term will result in lower monthly repayments but a greater total interest payable. A shorter loan term will increase the monthly repayment but result in less interest payable over the full loan term. To see how this may work for your loan, [calculate business car repayments](/car-finance-calculator "Access Our Tool for Estimating Business Vehicle Payments"). Simply vary the number of years/months while keeping all other data constant and see how the estimated monthly repayment changes. Be mindful that individual lenders can have a say in what loan terms they will approve. That is a key aspect that your Jade Car Loans consultant can negotiate with our lenders to achieve. ## Deposit or No Deposit? The total loan amount does of course determine the monthly repayments, in conjunction with the interest rate and the loan term. To achieve the target repayment figure, the decision around deposit or no deposit can arise. We offer no deposit finance for many applicants and this provides the opportunity to include the full purchase price of the vehicle into the loan. That can be attractive to many buyers especially business operators in regard to conserving cash flow and possible tax benefits. But where the objective is to achieve a lower monthly car loan repayment, buyers may decide to use existing funds to pay a deposit to the dealer and thus reduce the total loan amount. ## Business Finance Balloon Business motor vehicle finance includes the option to include a balloon for [Car financing for sole trader](/car-chattel-mortgage "Explore Vehicle Financing Tailored for Individual Business Owners") or residual for Vehicle Leasing. This option enables the borrower to vary the repayment amount by varying the balloon/residual. Be mindful of:- - Lenders may have limits to what they will approve. - The value of the vehicle at the end of the finance term when the balloon/residual is due for payment. This may impact the resale or trade-in outcome if upgrading at that point. ## Getting the Most from a Motor Vehicle Finance Calculator So there are a number of ways that new car buyers can explore to ensure their car loan repayments don’t necessarily increase when interest rates rise due to RBA decisions. Using a car loan calculator prior to applying for finance can be extremely helpful in forming how a buyer would like their car loan structured. With the preferred combination of loan amount, loan term and possible balloon decided, you will be ready to brief your Jade Car Loans consultant as to how you would like your finance structured. **Contact Jade Car Loans 1300 000 003 to discuss sourcing motor vehicle finance which is individually sourced and negotiated to meet your requirements.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [EOFY Prep – Motor Vehicle Finance & Tax Benefits](https://www.jadecarloans.com.au/blog/eofy-prep-motor-vehicle-finance-tax-benefits) **Published:** May 22, 2022 **Author:** Publisher **Content:** There’s been plenty of issues and events for business operators to be busy with over the past few months. The ongoing issues around the pandemic, especially in regard to staffing, recovering trade after 2 years of multiple lockdowns, supply chain issues, surging inflation and of course the Federal Election. But with 30 June looming, it’s time to focus on what actions could be taken to optimise tax benefits in this financial year, specifically in regard to motor vehicle finance and new vehicle purchases. Supply has been an issue in the motor vehicle sector due to global issues and the persistent shortage of computer chips which is affecting production. But delaying purchases much longer could mean missing out on tax benefits this financial year. A time when possibly any extra deduction or return could be most welcome. While achieving the [cheapest business car loan rates](/car-finance-interest-rates "Competitive Vehicle Finance Rates of Interest") and cheapest overall motor vehicle finance is critical to the affordability of the loan, factoring in any possible tax benefits can also contribute to the overall cost-effectiveness of the vehicle purchase. To that end, choice of motor vehicle finance product should be considered in detail with input from the business accountant. The tax benefits vary with the different types of motor vehicle finance and with the timing and eligibility of temporary measures available such as IAWO and [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/). How tax is treated varies across the different finance products and the suitability of different loan types for different types of businesses is also a factor to consider. In the lead-up to tax time, we outline the basics of how tax is treated with the most popular types of [business vehicle finance](/business-car-finance "Commercial Car Loan") – [Car Chattel Mortgage](/car-chattel-mortgage "Sole Trader Car Financing: Empowering Your Business Mobility") and Leasing, and what deductions and benefits may be available for different business set-ups. ## Business Vehicle Finance Range The two most commonly used finance products for the purchase of business vehicles are Chattel Mortgage and Vehicle Lease. One of the key differences between the two is in regard to ownership in title of the vehicle over the finance term. With Chattel Mortgage, the business immediately takes ownership of the vehicle on settlement of the finance and the purchase agreement. In doing so, the vehicle/finance is posted as an asset/liability to the business balance sheet. With Leasing, the business technically leases the vehicle from the lender over the finance term. The vehicle ownership is retained by the lender until the loan is finalised. As such, the vehicle is not listed on the business balance sheet. The accounting method used by the business entity can determine which of these finance products is best suited to the business. In general terms, the cash accounting method is seen as best-suited to Chattel Mortgage and the accruals methods of accounting to Leasing. The financial objectives of the business including the approach to the balance sheet are also important in the finance product decision process. Leasing is often referred to as ‘improving the appearance of the balance sheet’. This is due to the vehicle not being posted as an asset/liability to the balance sheet. This may be an attractive option for smaller businesses, new businesses and those considering applying for other forms of finance. ## Treatment of GST The differing treatment of GST between Chattel Mortgage and Lease can be seen as tax benefit for some businesses that are registered for GST. With all finance, GST is not charged on the interest component of the loan. With Chattel Mortgage, the entire amount of the GST applicable to the vehicle purchase can be claimed in the next corresponding BAS return. For businesses facing a large BAS amount, being in a position to deduct that amount at the payable due date may represent a timely boost to cash flow. With Leasing, GST is applied to the monthly lease payment (excluding interest portion) and can be claimed on the corresponding BAS returns on that basis. ## Tax Deductibility of Interest The interest charged on finance is tax deductible for all types of business finance but the deduction is realised at differing times during the finance term. ## Treatment of Finance Repayments With Chattel Mortgage the monthly finance repayments are not fully tax deductible. Only the interest component of each repayment is considered deductible. The main tax deductible benefit realised with this type of finance is with depreciation, which we have covered as the next point. With Vehicle Leasing, the monthly Lease payments are considered fully tax deductible. The deduction of the payments made in a financial year would be realised when the accountant prepares the annual business accounts and tax returns. In simple terms, taxable items, in this case lease payments, would be deducted from business income to derive the taxable income. The greater the amount of deductions, the lower the taxable income and less tax is payable. ## Asset Depreciation Benefits As noted above, with Chattel Mortgage Vehicle Finance, the repayments are not tax deductible in full (just the interest). Businesses selecting this form of finance post the vehicle to their balance sheet. As an asset, the vehicle is then depreciated each year in line with [ATO](https://www.ato.gov.au/ "Visit the Australian Taxation Office (ATO) Website") rulings. Under usual ATO rulings, depreciation is a percentage of the value and that becomes the tax deduction. From time to time, including in this current financial year, the ATO will implement accelerated asset depreciation measures. By definition, this measure allows for the entire amount of the purchase of eligible assets to be realised in one year, the same financial year that the asset was acquired. Currently, this measure is known as Instant Asset Write-Off and temporary full expensing. This is seen as a major benefit to many businesses and a great incentive to purchase new vehicles. Vehicles purchased with Chattel Mortgage Finance by eligible businesses and under the ATO guidelines, may opt for IAWO in this financial year. That can represent a significant tax deduction for the 2021/22 year to lower taxable income and tax payable considerably. As announced in the Federal Budget, IAWO is available through the 2022/23 financial years. So vehicles purchased after 1 July 2022 and before 30 June 2023 would be subject to the relevant tax benefits in 2022/23 financial year. ## Action Required For businesses keen on utilising IAWO this financial year, it’s time to select and source vehicles and speak with us for Chattel Mortgage Vehicle Finance quotes. It could also be a timely move in regard to interest rates. Many analysts are expecting the RBA to move again on increasing the cash rate, possibly as early as the Board’s June meeting. Our consultants are available to act quickly to source quick finance quotes and proceed to arrange fast approvals and prompt settlement to meet our customers’ timeframes. **Contact Jade Car Loans 1300 000 003 for tax-effective business vehicle finance before EOFY.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Upgrade with Cost-Effective Commercial Van Finance](https://www.jadecarloans.com.au/blog/upgrade-with-cost-effective-commercial-van-finance) **Published:** May 22, 2022 **Author:** Publisher **Content:** The surge in demand for online shopping and the necessity for home deliveries due to the pandemic resulted in a dramatic rise in the sales of commercial vans. With demand for delivery services appearing to be ongoing, businesses need to ensure their vehicle is up to the task to realise productivity, efficiency and profitability. Many businesses acquired new vans in 2020 and those vehicles may have worked hard over the past few years. If your van is past its best life, now, with tax time not far away, could be a good time to upgrade. Solid reasons to upgrade vans pre-EOFY with cheap commercial van finance include tax benefits from [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn About Immediate Asset Deductions for Businesses") and avoiding any further rate hikes. We set out this reasoning in detail to assist businesses with making their decision around when to upgrade their van, with what finance product and include info on top-selling and award-winning commercial vans to consider. ## Interest Rates Driving Purchase Decisions Interest rates are at the heart of cheap vehicle finance. For quite an extended period, borrowers have enjoyed record low lending rates as the [RBA](https://www.rba.gov.au/) kept the cash rate on hold at a historic low since November 2020. That historic era came to a close with the RBA lifting the cash rate at its May 2022 meeting. The minutes from that RBA Board meeting reveal that the Board did discuss a larger increase. This and comments from analysts and economists, including from leading banks, are pointing to further increases in the cash rate ahead. An increase could come as early as the RBA’s June meeting or it may be delayed until later in the year. A key target for the RBA to move on rates is the unemployment rate. The April unemployment rate was announced this week and shows the rate now dropped to 3.9%. The RBA would also be considering inflation as their driver for further rate hikes. Any rate rises by the RBA flow through the lending sector including motor vehicle finance. Buyers that secure van finance prior to further increases could realise a significant benefit in a cheaper interest rate. To see how higher interest rates affect van finance repayments, refer to our [Business Car Finance Calculator](/car-finance-calculator "Access Our Tool for Calculating Financing Options for Commercial Vehicles"). Vary the interest rate slightly to see how that changes the monthly repayment. A figure which could be a compelling reason to act now on that new van purchase. ## Upgrade before EOFY – Tax Benefits The lead-up to end of financial year, tax time, is always a busy time for business owners. Making those last minute acquisitions and financial moves to be in a position to realise any relevant tax deductions in the current financial year. In regard to asset acquisitions, such as commercial vans (subject to ATO eligibility criteria) the big attraction in this current FY is temporary full expensing aka Instant Asset Write-off. Under this temporary tax measures, the full purchase price of the eligible assets such as commercial vans, can be written off or deducted from taxable income in the year the van was purchased. To explain, under normal ATO depreciation rulings, only a percentage of that value would be tax-deductible or depreciated in a given year. IAWO and temporary full expensing can offer significant reductions in taxable income and therefore tax payable for some businesses. But in order to be in a position to take advantage of IAWO, the commercial van needs to be acquired with the appropriate form of vehicle finance. That is widely considered as Chattel Mortgage Vehicle Finance. ## Chattel Mortgage for Commercial Vans Chattel Mortgage is a very popular business finance product for the purchase of commercial vans as it suits many Australian business operations. It is essentially a secured loan format where the business takes ownership of the van, the van is used as the security for the finance and the business makes fixed monthly finance repayments. Jade Car Loans secures Chattel Mortgage at a fixed interest rate to ensure the rate and the repayments will remain unchanged over the finance term. This form of finance, including [ABN car loan options](/abn-car-loan "Discover Car Financing Choices for ABN Holders"), also attracts the cheapest interest rate compared with say Vehicle Leasing. The format of Chattel Mortgage makes this form of finance highly suitable for businesses wanting to utilise temporary full expensing. As the van is entered into the books (balance sheet) of the business, the asset is then subject to depreciation. Under the IAWO guidelines, that means the full amount of the purchase price can be written off or depreciated in the year the van was purchased. Purchase and have the van in operation by 30 June 2022 and that could mean a significant tax benefit in FY2021/22. There is only a few weeks to EOFY, but our consultants can act immediately to arrange cheap van finance which is individually structured to deliver a cost-effective outcome for our customers. ## Vans to Consider Which commercial van should you buy? That is a very personal decision but we can reveal the April 2022 van sales results. Sales were down significantly in this category for the month, compared with the same month last year and down on a year to date basis. On a brands basis, Mercedes-Benz is the top seller, then Renault, Volkswagen, Ford and Fiat. Buyers may like to have a close look at the [International Van of the Year for 2022](https://van-of-the-year.com/ "Explore the Winner of the 2022 International Van of the Year Award") – the Renault Kangoo. Whatever is driving you to a new commercial van purchase, ensuring the finance is cost-effective and cheap is sure to be a major contributor to business profitability and productivity. **Contact Jade Car Loans on 1300 000 003 to discuss cost-effective commercial van finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Temporary Full Expensing & Motor Vehicle Finance](https://www.jadecarloans.com.au/blog/temporary-full-expensing-motor-vehicle-finance) **Published:** May 29, 2022 **Author:** Publisher **Content:** A significant tax benefit via temporary full expensing is available in this current financial year to eligible businesses in regard to the acquisition of new eligible assets which can include motor vehicles. In order to realise the tax benefits of temporary full expensing on new car purchases eligible businesses need to utilise the appropriate form of motor vehicle finance. Chattel Mortgage for Motor Vehicles is considered most suited for this purpose. Many businesses may be more aware of this tax measure as an Instant Asset Write-Off. Temporary full expensing is an accelerated asset depreciation measure and is essentially the same concept as Instant Asset Write-off (IAWO). IAWO is probably more widely known and has been widely used by businesses acquiring new assets over the past 2 years. Both temporary full expensing and IAWO allow for the total purchase price of the assets being acquired to be written-off in the year of acquisition. These are temporary tax measures which are introduced by Government under ATO rulings to achieve a range of objectives. The current purpose of introducing accelerated asset depreciation measures is to stimulate the economy through business investment as part of the COVID-19 stimulus package. While the economy is bouncing back well from the effects of the pandemic, temporary full expensing is still in place until 30 June 2023. ## Current Rulings Instant Asset Write-off was introduced in April 2020 and expanded later in 2020 and known as temporary full expensing. The criteria for eligibility was slightly amended at that time. In order for a business to utilise this tax measure, both the business and the asset being acquired must meet the criteria. The [criteria and eligibility](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/Eligibility-for-temporary-full-expensing/ "Link to Information on Qualifications and Requirements") for temporary full expensing is detailed on the ATO website. The information includes details for small businesses that use the [simplified depreciation rules](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/Small-business-entities-using-simplified-depreciation-rules/ "Access Information on Streamlined Depreciation Guidelines"). New motor vehicles can meet the criteria if purchased within the timeframe. Can include businesses that require Low Docs and No Docs Vehicle Finance As per the 2022/23 Federal Budget announcement, temporary full expensing is available through to end EOFY 2023. ## Temporary Full Expensing: Specifics Under the usual depreciation tax rulings, assets are depreciated or written-off as a set percentage of the value or cost per year over a number of years as per the ATO schedule. Temporary full expensing allows for the full 100% of the value to be written off or depreciated in the year that the asset, the motor vehicle is purchased. The tax benefit is realised when the annual business accounts and the business tax return for the relevant financial year are prepared and submitted. The key benefit to business of this measure: is depreciation = deduction from taxable income = less tax payable. With less tax payable, business reduce their tax obligation and outgoings, ease cash flow and in principle have more funds to invest in their business. ## Finance Suited to Temporary Full Expensing For businesses considering claiming temporary full expensing for the purchase of new motor vehicles, the appropriate form of motor vehicle financing, such as [new business car financing](/new-car-finance "Explore Financing Solutions for New Business Vehicle Acquisition"), needs to be selected. The finance product needs to allow for the asset (motor vehicle) to be depreciated such as with Chattel Mortgage. To be a depreciable asset, the motor vehicle needs to be posted to the business books/balance sheet which means ownership by the business. This is the case with [Chattel Car Mortgage](/car-chattel-mortgage "Discover Financing Options for Vehicle Chattel Mortgages") where ownership of the vehicle is transferred to the business buyer on settlement of the finance and sale. The motor vehicle is used by the lender as security against the loan. The difference can be seen when comparing Chattel Mortgage with Vehicle Leasing. With Leasing the ownership of the vehicle is retained by the lender. As the ownership is not in the name of the business, the vehicle would not be a depreciable asset. However, with Vehicle Leasing the monthly lease payments are treated as operating expenditure and tax deductible. Business owners are strongly encouraged to discuss choice of finance product with their accountant. ## Chattel Mortgage Vehicle Finance Chattel Mortgage is a widely-used form of business vehicle finance and suits many businesses. It also attracts the [lowest business car loan interest rates](/car-finance-interest-rates "Explore the Most Competitive Interest Rates for Commercial Auto Loans") across the selection of business finance options. It is well-suited to new vehicles as the vehicle is accepted as security against the finance. Jade Car Loans secures Chattel Mortgage at a fixed interest rate which is an assurance that the repayments and the rate will not alter as the RBA moves on the cash rate and lending rates in general change. A balloon is an option and can be used effectively to structure the finance to achieve a monthly finance repayment that works with the business cash flow. To be in a position to realise the attractive tax benefit of new vehicle purchases in this financial year, the vehicle will need to be purchased by 30 June 2022. Our consultants are available to secure quick quotes and fast approvals to assist buyers meet deadlines while still securing cheaper motor vehicle finance. **Contact Jade Car Loans on 1300 000 003 for Chattel Mortgage motor vehicle finance this financial year** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Will change of govt affect car loan interest rates?](https://www.jadecarloans.com.au/blog/will-change-of-govt-affect-car-loan-interest-rates) **Published:** May 29, 2022 **Author:** Publisher **Content:** Australia has just held a Federal Election which has resulted in a change of government. Understandably this change may raise many questions in how a change of government will impact various areas and aspects of both business operations and personal/household budgets. For those intending to purchase a new car with finance may have queries around the effect, if any, that a change of government may have on car loan interest rates. Any effect is both simple and complicated which we will attempt to explain in the most basic terms. For a start, an election and any ensuing change of government does not of itself trigger a change to interest rates. But over a longer period, the effect of government policies can change the economic indicators which the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") uses to consider changes to the cash rate which then flow through to changes in lending rates such as car loan interest rates. To allay any initial fears – businesses and individuals with current motor vehicle finance which has been secured at a fixed interest rate should not have their loan impacted by any change in interest rates by the RBA or by their lender. Fixed interest rate motor vehicle finance has an interest rate which is fixed for the entire loan period. Jade Car Loans arranges both [Secured Car Loans](/secured-car-loans "Unlock Reliable Auto Financing with Collateral-Backed Vehicle Loans") for private buyers and our range of [business vehicle finance](/overview-of-business-car-finance "Discover Financing Options for Commercial Vehicles") at fixed interest rates. ## Process for Setting Interest Rates Interest rates in general have been very much in the news lately as the RBA has moved to increase rates in response to the sharp rise in inflation. Coming off the back of a period of historic low rates and being the first cash rate rise for 12 years, it’s not surprising that the May RBA rate rise has attracted more than the usual attention. Interest rates are set by individual lenders based on the own individual corporate guidelines and using the official cash rate as essentially a starting point. The official cash rate is set by the RBA Board. The Board meets monthly (excepting January) to assess current economic conditions and to decide whether a change in monetary policy via a rate rise is required. ## RBA Independent of Government The RBA is independent of government. The central bank is not directed by government. The Board makes its decisions based on its assessment of what monetary policy is required to support the economy. The government sets fiscal policy which relates to measures and policies introduced including in the Federal Budget. The RBA sets monetary policy. The key issues that the RBA monitors in regard to changing the cash rate are inflation and unemployment. During the economic crisis of the pandemic when it an extremely high unemployment figure was feared, the RBA cut the cash rate to make lending more affordable and accessible to stimulate business investment and hence the economy. As the economy bounced back, unemployment has dropped but inflation has surged. Conditions which have been in target range for the RBA to act and increase the cash rate. These actions have been independent of government actions. But the economic figures can be achieved in response to the outcomes of government policies. So while their decisions are independent of government, RBA’s decisions do have a connection to government policy. ## Impact of Government Policy Politically-biased dialogue does occur around the performance of the economy and can be subject to opinion. Political parties will often attest to being responsible for improving the economy and blaming others for poor performance. In general terms, that’s politics! In regard to any changes which may be expected through the current change of government, a number of observations can be considered:- - While making its own policies, Australia operated very much in a global economy and aspects of what is happening in other countries can have effects on the domestic economy. - New directions by incoming governments including any changes to policies can take time to enact legislatively, implement and to take effect. The ‘markets’ often react swiftly in response to a change in government and that may impact consumer and business confidence. But that does not directly change interest rates. - Some commentators have noted that many of the policies taken to the recent election by the major parties were not hugely different. - The [Department of Treasury](https://treasury.gov.au/ "Visit the Official Website of the Treasury Department") advises the Government on economic and related issues and policies based on current economic conditions. Departments do not change with a change of government and Minister. An incoming Treasurer will take briefings from Treasury. - As mentioned above, the key issues that the RBA monitors in regard to changing the cash rate are inflation and unemployment. Currently unemployment is at the lowest in decades at 3.9%. Inflation on the other hand has been on the rise. Wages growth is also a key indicator of note. - Slow wages growth in recent times has been highlighted as a matter of concern and contributor to the cost of living pressures that are experienced. If addressed successfully by government and wages growth does occur, this could influence RBA decisions on interest rates. So as mentioned at the outset – it’s simple and it’s complex. ## Outlook for Car Loan Interest Rates Jade Car Loans will always strive to achieve better and [cheaper commercial vehicle loan interest rates](/car-finance-interest-rates "Discover More Affordable Interest Rates for Commercial Vehicle Loans") for our customers. The RBA increased the cash rate at its May meeting and that flowed through to all lending sectors. The RBA has indicated that it will continue to normalise increase rates to bring inflation into what they refer to as the target level. For those seeking to take on motor vehicle finance, that means that interest rates in general are expected to rise again in coming months. The next meeting of the RBA is the first Tuesday in June and another rate rise may result. **Contact Jade Car Loans on 1300 000 003 to discuss better interest rate motor vehicle finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Motor Vehicle Finance for Ride Share & Delivery Drivers & Microbusinesses](https://www.jadecarloans.com.au/blog/motor-vehicle-finance-for-ride-share-delivery-drivers-microbusinesses) **Published:** June 5, 2022 **Author:** Publisher **Content:** Many business owners use their vehicle for work purposes and for many, the vehicle itself is essentially, the business. In recent years the ride share industry has emerged and grown, offering work for a wide range of people. Either as the primary or secondary source of income. The delivery industry has also spiked, especially as a result of demand during the pandemic. When it comes time to purchase new vehicles, what are the motor vehicle finance options available to ride share drivers, delivery drivers and to small and micro business operators? Businesses of this size and this nature can often face obstacles and challenges when applying for loans and finance especially through the more traditional or popular types of lenders. However, there is business finance which is specifically structured to suit the needs of small and start-up operations. ## Eligibility for Business Vehicle Finance The first issues that buyers in the categories we’re discussing should determine is their eligibility for business finance, eligibility to be a business entity and whether the vehicle would be considered a business asset or a private car. For all types of business finance, applicants must hold an ABN. Those starting out in an enterprise can check their eligibility and details for applying for an ABN at the [Australian Business Registe](https://www.abr.gov.au/business-super-funds-charities/applying-abn/abn-entitlement)r website. It should be determined whether or not the vehicle being purchased is classified as a business vehicle. The Australian Taxation Office (ATO) has [resources](https://www.ato.gov.au/uploadedFiles/Content/MEI/Downloads/TaxTimeToolkit_SB_motor-vehicle.pdf) to assist. Fringe Benefits Tax applies to business vehicles used for private purposes. Business owners may engage the services of an accountant to advise then on these matters. In simple terms, business vehicles should be for primary use in and by the business. Logbooks need to be maintained for a set period to determine the business: private use ratio. The ATO has information around what is classified as a commercial vehicle. If the criteria is meet for the vehicle to be considered a business asset then business finance can be applied for. If the criteria is not met, buyers can apply for a private car loan – [Secured Car Loan](/secured-car-loans). To meet the eligibility for business finance, the minimum requirements are that the applicant does hold a current ABN and has identification. ## Low Docs and No Docs Car Loans Operators that are starting a new enterprise do not usually have the complete set of business documents and other criteria for a business finance application form. This documentation relates to financial records, tax returns, BAS statements and with some lenders, can also include time in business. Some lenders will have a minimum 1-2 year eligibility criteria. For businesses that do not meet these criteria, no doc and [Low Doc Vehicle Finance](/low-docs-car-loans-for-business-vehicles "Catering to Your Vehicle Financing Needs with Low Documentation Options") may be suitable. This type of car loan is not available through all banks and lenders. As a specialist in motor vehicle finance, Jade Car Loans has accreditation with lenders that do offer this type of finance. The key difference between No Docs and Low Docs is the amount of documentation that the business can provide to support the application. Additional security against the loan may be requested by the lender. Our lenders assess each application individually in regard to risk and hence, what interest rate will be offered for the finance. Applicants are strongly advised to ensure their personal credit profile is in good order as this can be included as part of the assessment process. As can the individual business operator’s financial situation. Low Docs and No Docs Car Loans are available across the range of [business finance loans](/business-car-finance "Unlocking Your Business Potential with Financing Solutions") including Chattel Mortgage, Commercial Hire Purchase and Vehicle Lease. The choice of which best suits the business will depend on a range of considerations such as accounting method and financial objectives. To assist in making the finance product decision, business owners are strongly recommended to refer to an accountant or financial advisor. ## Tax Benefits Where a business is approved for and accepts a business vehicle finance offer, the business should be eligible for the relevant tax benefits associated with that particular finance product. Tax deductibility of expenses will be dependent on ATO rulings. FBT may apply where the vehicle is also used for private purposes. An accountant is best placed to advise on this issue. An annual FBT return may be required or FBT accounted for when the annual business and personal tax returns are prepared. If a private vehicle purchased with say a Secured Car Loan, is used for some business operations such as a secondary job as a ride share driver, the ATO rulings around allowable car expenses may be eligible for deduction from personal income tax. ## Accessing Assistance Individuals that are considering ride share work, delivery services or starting their own micro business can access a range of resources and engage a professional accountant to set-up the operation from a tax and accounting perspective. To assist in sourcing finance, these types of enterprises are welcome to engage our services as their finance broker style lender. Our services provide businesses with access to lenders that only operate through finance brokers and expertise to source and negotiate finance on their behalf. Easing the way over many of the obstacles that often prevent new enterprises from achieving cheap motor vehicle finance. **Contact Jade Car Loans on 1300 000 003 for vehicle finance for all types of businesses** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [May 2022 ANCAP Ratings – effect on the car loan?](https://www.jadecarloans.com.au/blog/may-2022-ancap-ratings-effect-on-the-car-loan) **Published:** June 5, 2022 **Author:** Publisher **Content:** When selecting a new vehicle, whether for private use or use in a business, one of the key buying criteria for many is safety. Car manufacturers have made significant developments in vehicle safety and are continually upgrading the safety features of their range. While the safety inclusions as listed in a brochure may sound impressive, how can buyers truly assess the effectiveness and necessity of such equipment? A question for those buying commercial vehicles and passenger cars with finance may be how a high level of safety features may affect the car loan. Will a safer-rated vehicle attract a lower interest rate and better finance? Despite supply issues prevailing across many sectors of the new car market, many buyers will not want to compromise on safety when selecting a new car. To assist buyers in assessing a vehicle’s safety rating, the ratings established by an official organisation are published – [ANCAP, Australasian New Car Assessment Program.](https://www.ancap.com.au/ "Explore the Safety Ratings by ANCAP, the Australasian New Car Assessment Program") Regarding the performance of safety features on motor vehicles, ANCAP is the leading Australian authority that undertakes testing and rating individual makes and models. ANCAP is independent and has been publishing its ratings for nearly 30 years. Many buyers have come to rely on a 5 star ANCAP rating to make a safer choice when buying a new car. ## ANCAP Rating System ANCAP uses a star rating system, 0-5, with a 5-star rating being the highest. These ratings indicate the level of safety that the vehicle provides for both occupants and pedestrians in a crash in addition to the vehicle’s ability with its technology to minimise the impacts of such an incident or avoid a crash. When evaluating vehicles, ANCAP considers the areas of protection for separate adult and child occupants and vulnerable road users as well as safety assistance. A model is evaluated and given its rating. But when considering a purchase, buyers are advised to look for the rating and the date stamp. This is the year that that particular rating was issued. This is important as newer versions of existing models may have ratings as per testing and ratings of an earlier version. Testing criteria may have changed since the initial assessment as may have the safety features of the model. ## May 2022 ANCAP Ratings New makes and models are presented by manufacturers for testing and rating by ANCAP. After testing, ANCAP published the results on its website. Information about ratings is readily available to the general public. In May 2022 ANCAP published several ratings for new makes and models:- - All variants of the [Lexus](https://www.lexus.com.au/ "Explore Lexus Range") NX – PHEV, hybrid and petrol, received a 5-star ANCAP safety rating. Special mention was made of the medium SUV performing well in all key areas; maximum awarded points for driver protection in testing for side impact and the front passenger in the test for frontal offset. A ‘moderate’ penalty was given on the assessment for potential impact on occupants of a colliding vehicle. Child occupant test scores were high. - Kia EV 6, the SUV, was awarded a 5-star ANCAP rating with all variants covered by this rating. All the key assessment areas received good scores. - C Class Mercedes-Benz sedan awarded a 5 star ANCAP rating with good scores all around. Interested buyers can refer to the ANCAP website for details on the assessment of individual vehicles. ## Impact on Car loan Interest Rates and Car Loans Regarding motor vehicle finance, the same range of loan products, both private and business, is available regardless of the safety rating of the vehicle. The selection of finance for new vehicles we offer comprises:- - [Secured Car Loan](/secured-car-loans "Discover the Benefits of a Collateralised Auto Financing Option") - [Sole trader car financing](/car-chattel-mortgage "Tailored Auto Financing Solutions for Sole Traders") - [Car loan with ABN](/abn-car-loan "ABN car financing") - Car Hire Purchase - Novated Lease with Salary Sacrificing Lenders will take into account the age and condition of used vehicles when preparing a loan offer including the interest rate our consultants can negotiate. However, in general terms, with new vehicles, the safety rating of the vehicle should not have a direct impact on any loan offer made including the interest rate. It may be worth clarifying that the widely used Secured Car Loan for private vehicles does not relate to the security assessment or safety of the vehicle. The ‘secured’ reference in this type of loan refers to the vehicle being used as security or guarantee against the loan. The lender accepts the goods being acquired as security. Comprehensive insurance is required on all vehicles purchased with finance. The safety rating of the vehicle may be taken into account by insurers when preparing a policy offer. For example, a lower safety rating may be perceived that the vehicle could sustain more damage in a collision. Damage which may represent increased repair costs. This may increase the insurance premium offered. So any additional cost in insurance incurred by purchasing a lower safety-rated car may be a buyer consideration. **Contact Jade Car Loans 1300 000 003 to discuss better interest rate motor vehicle finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [RBA Hikes Rates – will it affect your car loan?](https://www.jadecarloans.com.au/blog/rba-hikes-rates-will-it-affect-your-car-loan) **Published:** June 12, 2022 **Author:** Publisher **Content:** At the June Board meeting of the Reserve Bank of Australia (RBA) the decision was made to lift the official cash rate by 50 basis points, 0.5%. The official cash rate now sits at 0.85%. The RBA decision has significance across many sectors with those considering motor vehicle finance particularly interested in how it will affect a car loan. In general terms, the decision is significant in regard to the amount of 0.5% as the RBA has only raised rates by that amount a few times in recent decades. The decision also came as somewhat of a surprise to many banks and economists with the sector expecting possibly a 0.25% or 0.4% increase. The rise is in the cash rate is primarily to address surging inflation which has grown to 5.1% over the 12 month period to March 2022. In the statement making the rate announcement, the RBA conceding that inflation is higher than its own forecasts had expected. A rise in the cash rate by the RBA does have a flow-on effect through lending markets with Westpac the first of the Big 4 banks to pass on the rate rise to housing loan customers. The other three followed closely. The rise will flow through to motor vehicle finance but Jade Car Loans reaffirms our commitment to achieving better rates for our customers. An outcome which becomes even more important in a rising rate and rising costs of living environment. ## Governor Lowe Statement The [statement](https://www.rba.gov.au/media-releases/2022/mr-22-14.html "Official Website of the RBA - Reserve Bank of Australia") which announced the June 2022 rate rise includes key points:- - Inflation in Australia is lower than it is in many other advanced economies but still above earlier expectations. - Much of the rise in inflation is due to the global factors of pandemic-related supply chain disruptions and Ukraine war. - Domestic issues including the labour market and the recent floods are impacted prices. - Gas and electricity prices and recent rises in the price of petrol mean that inflation in the ‘near term’ is likely to be greater than the RBA expected in the previous month. - It is now expected that inflation will rise further before declining to a 2-3% range in 2023. - The rate rise will assist in returning inflation to the target rates over time. - It is expected that Inflation will moderate as supply issues on a global basis resolve. - Australian economy has grown by 0.8% (March quarter figures) 3.3% over the year, showing resilience. - Strong labour market with lowest unemployment level, 3.9%, in nearly 50 years. - As businesses compete to fill job vacancies, indications are for wages growth. - Uncertainty in the economic outlook exists in how household spending goes as inflation places more pressure on budgets. In assessing future monetary policy actions, the RBA states it will be looking closely at household spending, global issues including COVID-related events, energy prices, agricultural commodities amongst other data. The Board sees the June rate rise as another step in withdrawing the extraordinary level of monetary policy support provided to support the economy through the pandemic. Additional steps to normalise monetary conditions are expected in coming months. The size of further rate rises and when they will implemented will be based on analysis of data, labour market and inflation outlook. The RBA Board next meets to review the cash rate on the first Tuesday in July. A date coinciding with the start of the new financial year. ## Flow-on Effects The cash rate is a determinant for all lending markets and the 0.5% rate hike will flow through to interest rates offered by banks and non-bank lenders. Rates in different lending markets do vary as do the rates offered by different lenders. Australians appear to be facing more pain in costs of living over the coming times as inflation is expected to rise further before moderating next year. The Government response in regards to cost of living expenses is highly anticipated to assist households and businesses. ## Motor Vehicle Finance Considerations and Outcomes For those with existing motor vehicle finance which has been secured at a fixed rate, there will be no change to the interest rate or repayments. The scenario for many new car buyers has been extremely frustrating with lack of supply causing delays in purchases. Preventing many from taking advantage of the recent historic low interest rate situation. But for those seeking motor vehicle finance to purchase new cars, [Jade Car Loans](/why-jade-car-loans "Jade Car Loans: Your Path to Affordable Vehicle Financing") will still be working hard to achieve the cheapest rates from across our vast lender panel. With rates in general on the rise, there will be lenders like ourselves that are keen to remain competitive and offer cheaper rates than many others in the sector. With costs of living on the rise, buyers may look to lenders that have the ability to source these cheaper rates and to negotiate on more amenable terms. Lenders that can assist them achieve a repayment level that works with their budget today and anticipated into coming months. For business buyers a reduced monthly finance payment may be achieved by adjusting the balloon or residual or requesting a longer finance term. For private buyers a lower car loan repayment may be achieved by opting to pay a deposit to reduce the loan amount requested. Use our [commercial vehicle loan calculators](/car-finance-calculator "Calculate Your Business Car Loan Online") to see how these variations can achieve the preferred repayment level. Lenders will offer better [business car loan interest rates](/car-finance-interest-rates "Competitive Business Vehicle Finance Rates at Jade Car Loans") to applicants with good credit profiles. Keeping the credit rating in check is extremely important. For all buyers, taking advantage of our finance broker services to source the finance can reap significant benefits in achieving preferred outcomes in regard to finance term, cheaper interest rates and ultimately workable car loan repayments. **Contact Jade Car Loans on 1300 000 003 for better interest rates on business and private motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [May Top Car Sellers: Supply Constrains Sales, Rate Rises Impact Vehicle Finance](https://www.jadecarloans.com.au/blog/may-top-car-sellers-supply-constrains-sales-rate-rises-impact-vehicle-finance) **Published:** June 12, 2022 **Author:** Publisher **Content:** Those that have been on the hunt for a new car in recent times will be well aware of how frustrating it can be. Regardless of the situation, over 94,000 buyers managed to take delivery of their new vehicle last month. But the May monthly car sales figures reflect supply shortages in the Australian new car market and no doubt to some extent the [RBA rate rise](https://www.rba.gov.au/media-releases/2022/mr-22-14.html "Official Website of the RBA - Reserve Bank of Australia") impact on vehicle finance with figures down on the same month last year. The FCAI releases monthly motor vehicle sales figures for new vehicles and the announcement is of interest to enthusiasts and can be a nudge in the right direction for buyers seeking car makers with stock. But monthly figures need to be reviewed with the same cautions as have been issued for some time – supply, supply, supply! The figures relate to the number of vehicles which were taken delivery of, not the number ordered. The numbers may also reflect the impact of the May RBA interest rate rise as some buyers may be reconsidering their purchase decisions. For those in that position, we remind of two key points – the RBA has raised rates again in June and is expected to do so again this year and secondly, Jade Car Loans will always be seeking better interest rates across our vehicle finance portfolio. So what makes and models topped the charts for May? We review the figures and the FCAI overview of the current motor vehicle sales scenario. ## Demand Outstripping Supply While 94,383 buyers took the keys to motor vehicles in May 2022, that number is 6.4% down on May 2021. A result that [Tony Weber, Chief Executive of the FCAI](https://www.fcai.com.au/news/index/view/news/766 "Stay Updated with the Latest News from FCAI's Chief Executive, Tony Weber") sees as new vehicle demand continuing to outstrip the supply. Mr Weber said that the global motor vehicle manufacturing industry is continuing to be hindered by the computer chip shortage and delays caused by shipping issues. Issues which are being experienced not just in Australia but on a global basis. The FCAI reports that dealers report strong demand but sales on a monthly basis are dependent on arrivals. It does not expect the supply chain to be stabilised until the global issues resolve. The NT was the only state/territory to show an increase in vehicle sales compared with the same month in 2021. All others were down between 0.8% and 11.3%. Overall the month recorded a 6.4% drop over May 2021. ## Leading Makes and Models As usual, [Toyota](https://www.toyota.com.au/ "Explore the World of Toyota Vehicles") was the leading brand overall maker with the surprise to many being Kia and Hyundai taking second and third positions. In the ‘brand race’ for the year to date the leading 10 are Toyota, Mazda, Mitsubishi, Kia, Hyundai, Ford, MG Isuzu Ute, Subaru and Nissan. We stress that the sales figures that form these rankings are for new vehicles actually delivered and with supply issues prevailing, should be considered in context. The same should be done in regard to the top 10 selling vehicles for the month of May. It was Toyota dominating with HiLux in top spot followed by RAV4 then the Ford Ranger, Corolla, LandCruiser, Isuzu D-MAX, another Toyota the Prado, Triton, i30 and Mazda’s CX-5 rounding out the 10. In category terms, all posted decreases for May 2022 compared with 2021 figures with large and medium SUVs showing some growth. Slow growth in the EV segment but better results for PHEVs. May’s best seller in the EV category was the small [Volvo SUV, the XC40](https://www.volvocars.com/au/cars/xc40/ "Discover the Impressive Volvo XC40 SUV"), with new-comer to the Australian market, Polestar, in second place. The demand is there but supply is limited. Plenty for prospective buyers to consider along with planning their finance. ## RBA Rate Rises and Motor Vehicle Finance For those planning to purchase their new car with finance, the announcement by the RBA in both May and June of significant rate rises will be of interest and add an element of urgency to the purchase. Lenders will respond to cash rate hikes by lifting lending rates across their markets and that does include [new business car loans](/new-car-finance "Explore Financing Solutions for Your New Business Vehicle"). In the light of this unfolding scenario with the RBA alluding to further rises ahead, buyers will want to be paying more attention in sourcing their car finance. Sourcing the [cheapest car loan business interest rates](/car-finance-interest-rates "Find Affordable Business Auto Loan Rates for Your Budget") can be mean a significant variation in monthly repayments. To see exactly what a small percentage rate difference means to car loan repayments, use our car finance calculators. Motor vehicle finance interest rates do vary across the range of business finance products and for [Secured Car Loan](/secured-car-loans "Discover Your Path to Vehicle Ownership with a Collateralized Auto Loan") for private buyers. Rates can also vary across the lending sector. Which is one of the key benefits of utilising our broker services – to cover off quickly and efficiently on a vast selection of both banks and non-bank lenders. Buyers can be well-prepared to place an order for a new vehicle quickly by speaking to our consultants about pre-approved finance. **Contact Jade Car Loans 1300 000 003 to discuss better interest rate motor vehicle finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Car Loans Brisbane Queensland](https://www.jadecarloans.com.au/blog/car-loans-brisbane-queensland) **Published:** June 17, 2022 **Author:** Publisher **Content:** Navigating the world of car loans can be daunting, but we’re here to simplify it for you. Let us help you find an affordable car loan tailored to your needs, guiding you step by step! **Request a Quote** from our expert brokers today and unlock the best car loan rates in Brisbane. **FREE Car Loan Consultation** – 1300 000 003 By filling in our Quote Form, you’re one step closer to the best car loan rates Brisbane has to offer. Our seasoned brokers will then reach out, ensuring you’re well-informed and confident in your choices. For a smooth process, we have: - A comprehensive set of qualifying questions to determine your best fit. - A quick and easy Jade Car Loans Quote Form for immediate assistance. Take advantage of our **FREE Quote** and explore competitive loan options available through Jade Car Loans, proudly part of Jade Finance Australia. ## Experience the Jade Difference Being specialist finance mavens, we are celebrated for offering loans at competitive rates. 🔍 **Tools & Resources**: - Use our [**Business Car Loan Calculator**](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") for quick estimates. - **Request a Quote** for prompt lending feedback. - Call us for an immediate loan approval or explore our **Blog** for insights. Your financial aspirations are our priority. We aim to exceed your expectations, ensuring every client benefits from our outstanding loan offers. Speak to a representative now for a complimentary quote and kickstart your journey. Dial **1300 000 003** today! ## Jade Finance Australia: The Pinnacle of Affordable Car Loan Solutions Our decade-long presence in the industry stands testament to our commitment to stellar financial solutions. As an Australian entity, we fiercely uphold our legacy of providing optimal loans and unparalleled [car loan for business](/business-car-finance "Commercial Car Loan") rates. Boasting affiliations with over 40 lenders, Jade Finance is equipped with an array of loan products, ensuring we pinpoint the best match for you. This diverse spectrum underscores our exhaustive market research tailored to your advantage. Our pledge remains unwavering: to accompany our clientele throughout their financial journeys. We pride ourselves on offering finance solutions spanning cars, boats, business utilities, and more. With a proud association with FBAA, Jade champions ethical practices safeguarded by the Australian Prudential Regulation Authority (APRA). Choose Jade Car Loans and be a step closer to fulfilling your vehicular dreams. **Categories:** My Business --- ### [Focus: Classic & Vintage Car Loans](https://www.jadecarloans.com.au/blog/focus-classic-vintage-car-loans) **Published:** June 20, 2022 **Author:** Publisher **Content:** While many new car buyers wait months for their preferred models to arrive in dealerships, a niche group of buyers looks to the past to secure their dream car. Not simply used vehicles but vintage and classic models purchased by collectors, investors and motoring enthusiasts. To facilitate their passion, many buyers will be seeking affordable finance. Loans for specialist vehicles may not be available through many of the traditional sources for car loans. But sourcing the all-important finance does not have to be a challenge or a time-consuming task. Car loans for classic and vintage vehicles at better interest rates are available through specialist motor vehicle finance lenders such as Jade Car Loans. With finance sorted, buyers can spend their time seeking out the cars they want to add to their collection. Car shows offer the ideal opportunity for vintage car enthusiasts to admire motoring history and potentially source vehicles for sale. To assist with the purchasing and the financing side of acquiring a classic or vintage motor vehicle, we’re covering off on the car loan options and some of the upcoming car shows on the 2022 calendar. ## Loans for Classic and Vintage Cars The same car loan options as for new and used passenger cars are available for the purchase of classic and vintage vehicles. The key aspect in determining which loan is best suited – a [Secured Car Loan](https://www.jadecarloans.com.au/secured-car-loans.php "Unlock the Possibilities of Owning a Car with a Secure Auto Loan") or an [Unsecured Personal Car Loan](/unsecured-personal-loans "Explore Flexible Financing Options for Your Personal Car Purchase"), is around the vehicle itself. Specifically, if the lender accepts the car as suitable security for the loan or not. The Secured Car Loan is the most popular form of finance for privately purchased vehicles. The car is accepted by the lender as the security or guarantee against the loan. In situations where a vehicle is not accepted as suitable security, buyers can apply for an Unsecured Personal Loan. In the case of vintage and classic cars, the age and condition of the car will be assessed by our lenders as part of the loan application and approval process. As the specifics of each vehicle will be different, it is not realistic to offer general comments and conclusions around what cars would or would not be accepted as security. This issue however, should not deter buyers from applying for finance through Jade as our consultants will handle the entire loan process on behalf of our customers. As we have extensive experience in this area, we have the knowledge of which of our banks and lenders are best-suited to offering the best interest rates and cheapest loans for vintage and classic cars. The key differences between a Secured Car Loan and an Unsecured Car Loan are:- - Security for the loan. In the case of an unsecured loan, while the car would not form the security, additional guarantees may be requested by the lender. - Interest rate. Secured loans attract lower interest rates in general to unsecured loans. We source secured loans at a fixed interest rate but unsecured loans may be acquired at a fixed or a variable rate. Loan terms would be negotiated by our consultants to achieve the most workable and preferred repayments for our customers. ## Considerations Investors planning to sell the classic or vintage car at some stage, should consider a loan term to suit their re-sale timeframe to avoid early payout fees. Vintage vehicles purchased as restoration projects may be difficult to value and as such better suited to an Unsecured Personal Loan. We can car loan offers for all types of classic and vintage vehicles. Auctions are a very popular forum for purchasing classic and vintage cars. In order to be ready to pay at the fall of the hammer, buyers can apply for pre-approved car loans prior to the auction. A pre-approved car loan will have the same features and benefits as loan sourced after the sale. However, if a specific vehicle is not detailed in the loan application, the loan offer may need to be reviewed when those details are known. For example, where a loan for a certain loan amount is applied for in preparation to attend an auction without a specific vehicle targeted for purchase. ## Indulging the Passion – Classic Car Shows Classic car shows offer great opportunities to not only view and admire vintage and classic vehicles but all also the chance to possibly purchase. These events are extremely popular and the [2022 calendar](https://www.shannons.com.au/club/events/ "Download the Latest 2022 Schedule and Planner") features many shows across the country. Some of these events will focus on vintage and classic or embrace all types of unusual and special vehicles. Here are a just a few shows coming up soon:- - East Hills Charity Cars Show – 21 August, Kelso Oval, NSW - Coffs Harbour Swap Meet and Classic Vehicle Display -10 July, Coffs Harbour Showground - Bundaberg Heritage Car, Bike, Truck and Machinery Show – 9 July, Bundaberg QLD, Recreational Precinct - Noosa Beach Classic Car Show – 24 July, Mat Thornhill Oval - Outback Classics Show and Shine – 27 August, Emerald QLD Showgrounds - [Joondalup Festival of Motoring](https://jfom.com.au/ "Visit the Joondalup Automotive Festival for Enthusiasts") 29-30 October, Perth. A family-friendly festival of motorsport and car culture. If you’re a collector of vintage and classic cars or ready to indulge your passion, Jade Car Loans is ready to assist you to source appropriate finance to make that purchase. **Contact Jade Car Loans 1300 000 003 for better interest rate car loans for vintage and classic cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [The Longer You Wait, the Higher the Rate: Motor Vehicle Finance Interest Rates Update](https://www.jadecarloans.com.au/blog/the-longer-you-wait-the-higher-the-rate-motor-vehicle-finance-interest-rates-update) **Published:** June 20, 2022 **Author:** Publisher **Content:** *‘The longer you wait, the higher the rate’* could be the slogan for the current situation in loans and finance. Not because of the loan application but in regard to rate rises including motor vehicle finance interest rates. On June 7 the Reserve Bank of Australia announced a significant rise in the cash rate and indicated more increases were on the cards. When and by how much are the unknowns. For those who could be thinking, no it’s OK, I’ll wait, it may not happen – be alert, the message couldn’t be clearer – secure motor vehicle finance and proceed with that purchase as soon as possible. A number of sets of economic data, announcements and decisions have been made in the past week or so on both a domestic and an international front which are seen as putting pressure on the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") to act again on rates. Another rise could be highly possible as soon as the RBA’s July meeting in a few weeks. Realising the impact of economic conditions on interest rates including motor vehicle finance interest rates may help buyers cost-effectively time car purchases to avoid higher rates and higher repayments. Staying across how the economy is travelling in the key areas addressed by the RBA in regard to rate hikes can be used as guide by car buyers as to when to source finance and purchase and not pay more than they should on the loan. While the economy is recovering well from the pandemic issues, surging inflation both here and overseas is of great certain. The NSW Treasurer Matt Kean is reported as describing the situation as economic uncertainty. Some commentators are talking about the risk of stagflation. For those considering a car purchase with finance at some time in the short to medium term that may translate to the longer the wait, the higher the rate. We update on the latest economic figures and events and strongly encourage buyers considering purchasing new vehicles with finance to act as quickly as possible. ## Unemployment Figures Unemployment is a key economic indicator for the RBA in regard to changing the cash rate. For May, the unemployment figures released by the [ABS](https://www.abs.gov.au/ "Explore Anti-lock Braking System (ABS) Details Here") see the rate remaining steady at 3.9%. This is the lowest rate in around 40 years and the 7th month of a drop in the unemployment rate since the lifting of lockdowns and pandemic restrictions. Some analysts and economists see this as further pressure on the RBA to move on rates in July. ## Inflation Update In the statement announcing the June RBA Board decision, Governor Lowe indicated that inflation could climb to around 6%. But in an interview a few weeks after that statement, Mr Lowe said that inflation could get close to 7% by the end of 2022. Mr Lowe did not predict how fast the RBA would act. He reiterated earlier comments that each monthly decision would be based on the data as available. ## Minimum Wage Decision In another major move which could impact inflation and interest rates was the recent decision by the Fair Work Commission to increase the minimum wage by 5.2%. Great news for workers in that salary range but possibly not great for inflation and interest rates. Some analysts put forward the scenario that increased wages will be passed onto consumers by businesses, thus further raising costs and fuelling inflation. But the general feeling is that these workers greatly deserve the pay rise. So more data for the RBA to consider. ## International Rate Hikes The stock market has been reeling in response to what is happening in the US in regard to inflation and interest rates. As a global economy, events and conditions internationally have a flow-through effect in Australia. We’re seeing that with the war in Ukraine, the shutdowns in key markets such as China and also surging inflation in the US. In this past week, the US Federal Reserve, the equivalent of our RBA, increased rates by the largest amount since the 1990s – 0.75%. The increase in an effort to rein in inflation in the US which is around 8.6% In the UK, their central bank, the Bank of England has also increased the cash rate four times in recent months. Global decisions which have the potential to impact conditions in Australia. ## Impact on Motor Vehicle Finance The RBA has been proceeding with a process of normalising the cash rate after the pandemic support period of extraordinary low interest rates. The cash rate forms a basis for banks and lenders to establish the interest rates they will offer across their lending sectors. That includes motor vehicle finance rates. As the RBA increases the cash rate, the lending markets respond with increasing rates. While Jade Car Loans focuses on achieving better and cheaper interest rates, the rates achieved for our customers are dependent on the market. Our accreditation with a vast number of lenders does provide us and our customer with greater choice and prospects of achieving the best rate on offer. [Car loan interest Rates for businesses](/car-finance-interest-rates "Competitive Rates for Commercial Vehicle Financing") vary across the range of motor vehicle finance products and those variations remain. Some economists are tipping a 0.75% increase in the cash rate at the 5 July RBA meeting. To see what an increase of that size might mean to car loan repayments, simply use our calculators. Keep the loan amount and term constant while varying the rate to see the change in the repayment amount. Enough to get you moving? ## Securing Finance Quickly The signs are all there for further and possibly significant rate rises very soon. So moving on that car purchase should be a matter of urgency so the current lower rates can be achieved. We realise that supply is a major issue in the motor vehicle sector at the moment and many buyers are on wait lists. For those that can source their vehicle, our consultants can move quickly to secure car loan quotes and fast loan approvals to ensure the cheapest rates are acquired. The countdown to the next RBA meeting is on, so time to get moving and beat the next rate rise. **Contact Jade Car Loans on 1300 000 003 for a quick quote on motor vehicle finance at cost-effective interest rates** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Secure Motor Vehicle Finance for EOFY Car Deals](https://www.jadecarloans.com.au/blog/secure-motor-vehicle-finance-for-eofy-car-deals) **Published:** June 26, 2022 **Author:** Publisher **Content:** Normally at this time of year, the end of the financial year, car buyers are treated to a plethora of EOFY sales and special deals. But with the current new vehicle market, there is not expected to be as many EOFY car deals in Australia in 2022 as usual. The new car market has been hit hard by pandemic-related and other issues which have severely limited supply. However, despite the supply issues some car makers are offering EOFY deals and buyers can be in a good position to purchase by first securing their motor vehicle finance. Supply of new vehicles has been extremely tight for the past few years, particularly as a result of the computer chip shortage which is impacted many manufacturing sectors. Wait times for some of the most popular models has blown out to 3-12+ months while other new releases have been delayed. But we have put our team to work to research what deals are out there to assist our customers. ## Finding the Deals and Discounts With deals and discounts hard to find, we did manage to find a number of offers for buyers to consider. But in reviewing the offers, make sure you study the terms and conditions. Some offers are noting ‘delayed delivery’. So you might have to wait to actually bag that bargain. Delivery time may be critical in the overall savings realised if the purchase is being made with finance. While we can arrange pre-approved finance, these loans do have an expiry date. Great to finding out how much you may be approved for borrowing so you can establish a budget. But if the loan offer expires prior to the vehicle delivery, the loan would need to be reviewed and possibly re-priced. With the RBA Governor giving extremely strong indications of further rate rises in coming months, the savings on the vehicle price will need to be balanced against any possible higher interest rate on the finance. Keeping that in mind, check out some of the deals currently being advertised:- - Isuzu Ute is an extremely popular workhorse and suitable across many trades, agricultural and general weekend duty. Isuzu is [currently advertising](https://www.isuzuute.com.au/deals/current-offers "Isuzu Ute advertising offers") reduced pricing on the D-Max 4 x 4 X-Terrain Crew Cab Ute in Auto and one of the 4 x 2 Single Cab Chassis variants as well as the MUX 4 x 4 LS-T in auto transmission. - For business operators looking to upgrade their van, [check out the offers](https://www.mercedes-benz.com.au/vans/en/current-offers "Visit the offers by Mercedes benz") from Mercedes-Benz on the different variants in the Vito range. The offer appears to present savings in the on-roads – rego, CTP and stamp duty. Any saving is a saving! - For passenger car buyers head to the [Kia website](https://www.kia.com/au/offers/car-offers.html "Visit the official Kia Website") – but be quick. The advertised offer of driveaway pricing from just over $28,000 on the Stonic is only available until 30 June. The same deadline applies to the reduced pricing on the Cerato, Picanto, Stinger and Rio. Plenty of variation in size and style so buyers in this category should be able to find a vehicle which suits their driving needs and their budget. - Alfa Romeo is reported to have special pricing on a Stevio until 30 June also. Reportedly, deals, not specifically named as EOFY, can be found from other brands but you’re best to check with the dealerships directly to see what models they have discounted. Some manufacturers are presenting ‘savings’ on current models prior to upcoming price increases. In real terms, that could be a great deal especially if you also secure finance prior to upcoming interest rate rises. ## Beating the 30 June Deadline With just days to the 30 June deadline, the race is on. Can you find a vehicle and can you arrange finance in that timeframe? The vehicle sourcing is up to you. But in regards to finance, Jade Car Loans offers quick quotes and fast approvals while still guaranteeing better interest rates to assist buyers in a hurry. Urgency doesn’t mean you’ll need to pay more on your motor vehicle finance. The [budget-friendly business car financing rates](/car-finance-interest-rates "Explore Affordable Financing Options for Your Business Vehicle Needs") offered by our lenders is based primarily on an assessment of the credit worthiness of the loan application. We can still secure cheaper interest rates quickly as we have direct, industry-level links to a vast number of lenders. In fact, if you are in a hurry, using our broker-style services is extremely likely to be a lot faster than attempting to source finance yourself through a bank or a finance company. If offered dealer finance, make sure you still [contact us](/approval "Get in Touch with Our Team") for a quote to compare as we do stick by our better interest rate policy. Another tip – ask if the 30 June deadline advertised by manufacturers for special deals is definite? Some EOFY offers will be ‘while stocks last’ so they may be available into early July. ## Finance Options For private buyers, the [Secured Car Loan](/secured-car-loans "Drive Your Dream Car with a Secured Auto Financing Solution") will be the most suited loan type for most buyers and most vehicles. Business buyers can select from our full range of finance products with Chattel Mortgage offering potentially extra tax benefits through IAWO and temporary full expensing. Prior to heading to a dealership, give us a call so we can start your application and get moving on quotes. **Contact Jade Car Loans on 1300 000 003 for better interest rate car loans for EOFY deals and discounts on motor vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [How to save on a car loan](https://www.jadecarloans.com.au/blog/how-to-save-on-a-car-loan) **Published:** June 26, 2022 **Author:** Publisher **Content:** With costs of living putting pressure on household budgets and business cash flow, interest rates on the rise and the RBA Governor saying more rises will be required, everyone is looking for ways to save without having to compromise on acquiring the goods and services they need. For buyers purchasing vehicles with a car loan, there are ways that can be considered to realise a saving on both private car loans and business vehicle finance. In terms of motor vehicle finance, ‘save’ can have slightly different meanings to different buyers. The interpretation of ‘save’ meaning where the buyer is looking to reduce their car loan will determine how they may look to go about realising that reduction or relative savings. The 3 primary objectives that most buyers may look to achieve are:- - A cheaper car loan interest rate - Saving on the total interest payable on the loan - A reduced monthly car loan repayment - Avoiding unnecessary charges - Businesses optimising savings through tax deductions We present the different strategies or approaches which can be used to work towards achieving those objectives. Strategies which can assist our customers in implementing when applying for their car loan. ## Interest Rates [RBA Governor Lowe](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") has stated that more interest rate rises will be coming and that means rises in car loan interest rates. Achieving the cheapest rate is a primary objective and can be pursued by addressing a number of issues. - Having a good credit profile is key to being offered the cheapest interest rate. Lenders assess the credit worthiness or risk level of each applicant on an individual basis. Applicants with a good credit score typically are offered better rates. - There are ways that individuals and businesses can work towards improving their[ credit score and rating](https://moneysmart.gov.au/ "Learn About Your Creditworthiness and Financial Health"). One simple way is to pay off any debts such as credit card balances or other loans before submitting an application for a new loan. - Being circumspect about which lender you select to apply for your car loan. Interest rates vary across the lending market as you can see in our [Compare Interest Rates for business cars](/car-finance-interest-rates "Conduct a Business Car Loan Interest Rate Comparison Here") chart. As brokers, we offer the benefit of being able to source the cheapest rate from across multiple lenders and negotiate on behalf of our customers. So don’t opt for a dealer offer or other option without first doing your research or just speak with us to save the time. - Acting quickly with the purchase, if you can find the car you want, can ensure you secure your car loan before the next interest rate rises. To see what an increase could mean to your car loan, simply refer to our [Commercial car finance Calculator](/car-finance-calculator "Utilise Our Business Auto Financing Calculator"). - Ensure you secure a fixed interest rate so the rate and repayments do not increase when rates do. ## Reducing Total Interest Payable The total interest payable on a car loan is determined by the total loan amount and the loan term – the number of years to repay the loan. Reducing either of these amounts will reduce the total amount of interest paid over the loan term. And of course, so will achieving a cheaper interest rate as noted above. This is significant to some buyers as it represent the real cost of the vehicle. An issue which may come into play when it’s time to resell or trade in the car. The total interest can be reduced and hence a saving realised by:- - Selecting a cheaper car to reduce the amount of the loan. - Not opting for no deposit finance but paying a down payment to the dealer to reduce the amount of the loan. - Requesting a shorter loan term. A shorter term means a higher monthly repayment but less interest payable. When interest rates were at historic lows the total interest payable may have been less important. But as rates creep up, so does the prospect of this issue. ## Reducing Monthly Loan Repayments Savings can be interpreted by some buyers as achieving a lower monthly loan repayment. This may not actually mean you’ve saved on the cost of the loan or the interest, but it may be represent a saving on what you need to meet each month. A critical factor when balancing budgets and cash flow. Referring to our Loan Calculator, you can easily see how the repayment term and the loan amount reduce or increase the monthly loan repayments. Requesting a longer loan term is a popular way to reduce the monthly loan commitments. Some lenders will have set guidelines in regard to what they will approve in this regard. However, your Jade consultant will negotiate hard on your behalf to achieve a workable outcome. Businesses can also look at the balloon/residual amount to reduce repayments. Neither of these actions will save on interest but can reduce the monthly outgoing repayment which may be the objective for many buyers. ## Avoid Unnecessary Charges Some loans will attract pay out or exit fees when the loan is finalised before the end of the agreed loan term. This can occur if the owner decides to upgrade or resell the vehicle before the end of the loan term. To avoid these fees, consider the timeframe of how long you intend to keep the vehicle when you are applying for the loan. By syncing your projected ownership period with the loan term, early payout fees may be avoided. ## Purchasing Tips Reducing the price of the car is a no-brainer in reducing car loan commitments. So how can that be achieved? Here’s a few tips to keep in mind:- - Prices of many goods including motor vehicles are on the up. New models coming later this tear and into next year are looking like having higher price tags due to inflation surging overseas and increased costs of freight and components. Avoid upcoming price hikes on the purchase price by purchasing ASAP. - Check out demo models. These can be available at quite significant discounts. They can also be tricked-up with many accessories and options which you may not have necessarily been able to afford, but want. But do check the mileage. Some may only have a few hundred klms while others may have many more. - Think carefully about adding accessories to the vehicle at the point of purchase. This will add to overall price of the car and can be included in the loan. But in some instances, it may be cheaper to source after-purchase accessories. Do your homework prior to purchase. - Considering a used car as that should be cheaper than new? Think again. Due to the new car shortage the used car market has skyrocketed. The price may be way outside the actual value of the vehicle which can impact resale value down the line. Interest rates on car loans may also be higher for used versus new. So any savings may be wiped out in the loan. Request quotes on both options from us to assist with your buying decisions. Saving our customers on their car loans and motor vehicle finance is our primary focus. Our consultants will work with you to secure the cheapest car loan that meets your application and requirements. **Contact Jade Car Loans 1300 000 003 for ways to save on your car loan.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Meet New Financial Year Targets with Cost-effective Business Vehicle Finance](https://www.jadecarloans.com.au/blog/meet-new-financial-year-targets-with-cost-effective-business-vehicle-finance) **Published:** July 3, 2022 **Author:** Publisher **Content:** 1 July, a new financial year and time to act on plans to achieve business targets for the coming 12 months. Embracing the optimism in the economy following two years of pandemic disruptions while understanding and managing the downsides of supply chain issues, inflation and rising interest rates. Securing cost-effective vehicle finance with the cheapest interest rates to equip the operation with new vehicles can be critical to meeting business goals. To achieve this, business owners and operators should focus on the combination of factors which work together and towards delivering workable, customised motor vehicle finance for business. The keys to opening up improved prospects for achieving cost-effective finance include:- - Accessing appropriate lenders - Selection of finance product - Finance structure - Sourcing cheapest interest rates - Maximising tax benefits As specialists in business vehicle finance, we work closely with business owners on addressing all these aspects to deliver cheaper and more workable finance. We elaborate on each of these points to assist business owners establish a solid plan for moving forward with new vehicles with workable finance. ## Accessing Appropriate Lenders Simply reviewing websites for interest rates only reveals one aspect of what that lender may offer especially in regard to flexibility and being open to negotiating on terms. The Australian lending market, especially for business borrowers, is vast and growing with new lenders regularly entering the sector. Many of these non-bank lenders can be harder to find as many limit their operations to working with their own select group of accredited finance brokers. Jade Car Loans is accredited with many such lenders and can open access to their loans for our customers. While banks, large finance companies and dealer and manufacturer finance may be convenient sources of finance, they may not have the ability within their corporate set-ups to offer the flexibility required. Flexibility to negotiate on rates, loan terms, balloons and finance conditions. Aspects which may be critical in achieving a workable outcome. Non-bank lenders are of particular importance for relatively new and start-up businesses that don’t meet all the requirements for finance with banks and some large finance companies. These businesses would be seeking Low Doc and [No Doc business car Financing](https://www.jadecarloans.com.au/no-docs-car-loans-for-business-vehicles.php "Explore Hassle-Free Car Financing with Minimal Documentation") which is predominantly available through non-bank lenders and specialist broker-style lenders such as Jade. The benefits of using our services include providing access to many choices in regard to lenders plus the bargaining power and expertise to ensure the best finance offer is received. ## Selection of Finance Product For the purchase of vehicles for use in a business, the selection of finance products include:- - Vehicle Lease - [Sole trader car loan (Chattel Mortgage)](/car-chattel-mortgage "Discover Financing Options for Sole Traders – Chattel Mortgage Car Loans") - Commercial Hire Purchase - Novated Lease with Salary Sacrifice The choice can determine the tax-effectiveness of the finance in regard to individual businesses and be instrumental in working towards specific goals. Finance products vary in regard to a number of aspects including suitability to the accounting methods of accruals and cash accounting; treatment of GST; when and which loan components are tax deductible; how the vehicle is treated in regard to the business balance sheet; and interest rate. Making a choice based solely on the interest rate may overlook other benefits. This decision is extremely important and as it involves accounting methods, we strongly recommend that business operators enlist the assistance of their accountant in the process. ## Structuring Finance How the vehicle finance is structured can be critical to cash flow and meeting other financial objectives. Committing to monthly finance repayments which put pressure on cash flow are certain to cause pain points for the business over the loan term. Compromising the potential achieve performance, productivity and profitability this financial year. Structuring the finance means addressing the loan term and the balloon/residual to deliver a workable repayment level. Some lenders will have set guidelines around terms and balloons and there may be tax regulations to consider in regard to residual amounts. But individual preferences in regard to how the finance is structured can be achieved in many instances through utilising our services. To see exactly how these finance elements interplay to change the repayment amount, simply use our [business car finance calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online"). By varying any of the data entered, you’ll see how the monthly payment alters. By using this finance tool prior to applying for finance, business owners may be in a position to provide a more specific brief to our consultants and expedite the quote and approvals processes. ## Sourcing Cheapest Interest Rate The interest rate on any loan has and always will be a priority consideration. But the [RBA’s](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") recent rises in the cash rate has highlighted the importance of achieving the cheapest interest rate possible. A cheaper rate means lower interest payable over the finance term and reduces the real cost of the vehicle plus it results in a lower monthly repayment. An amount which can be critical to cash flow. Achieving the cheapest interest rate goes back to lender selection but also takes in the credit rating of the business. Rates will vary across the market and we can assist in that regard by offering more choices and the bargaining power to negotiate for cheaper rates. An assessment of the credit rating of the business forms an integral part of the application approval process and what interest rate will be offered. The better the credit rating the cheaper the rate. ## Maximising Tax Benefits Maximising the tax benefits which can be realised through different forms of finance can present a real saving to business and effectively reduce the cost of motor vehicle finance. Being aware of the programs and measures in place in this financial year to suit the individual business and knowing how to structure the vehicle finance to maximise the benefits on offer are key. [Temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn More About the Temporary Full Expensing Program") for eligible businesses is current through the 2022/23 financial year and can be implemented with Chattel Mortgage Vehicle Finance. With the new financial year now underway, now may be an ideal time to set your business up to take best advantage of the opportunities as they emerge with new work vehicles with workable, cost-effective vehicle finance. **Contact Jade Car Loans on 1300 000 003 to discuss how we can assist you to achieve workable vehicle finance to start the new financial year.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Utilising Car Loan Tools and Resources](https://www.jadecarloans.com.au/blog/utilising-car-loan-tools-and-resources) **Published:** July 3, 2022 **Author:** Publisher **Content:** Accessing assistance through online resources is standard operating procedure for most Australians. When we need to do something especially for the first time, we tend to straight away head to the web to check out the details and options. As tech has developed, so has the range and selection of resources to assist individuals and business in just about every aspect of their life. That includes when it comes to sourcing a car loan. Taking on motor vehicle finance, whether it be for a business vehicle or a private car, is a major commitment. Buyers should be discerning and informed when it comes to making decisions around their loan. Online tools and resources are readily available to assist buyers source a car loan and their correct use may help in sourcing the cheapest finance offer. We stress ‘correct use’ because getting the most from the tools and resources available involves not only knowing where to find them but how to use them properly. As part of our approach to educating and informing our customers, we provide this overview on car loan tools and resources and how we assist buyers on a direct, personal level. ## Car Loan Explainers The first step is to fully understand the types of loans which are available. For buyers of private vehicles, that is known as consumer finance. An area which is regulated through [ASIC](https://asic.gov.au/ "Visit the Australian Securities and Investments Commission (ASIC)"). The ASIC website provides extensive information to explain consumer finance for borrowers. The two main types of loans for private buyers are:- - [Secured Car Loan](/secured-car-loans "Unlock Your Car Dreams with a Collateral-Backed Auto Loan") - Unsecured Personal Loan We have provided explainers on both these loan types. Differentiating between [Business Vehicle Finance](/overview-of-business-car-finance "Explore Financing Solutions for Your Business Vehicles") and Private Car Loans or consumer finance is also important. Business finance typically will attract lower interest rates and has different types of loan products. But in order to be eligible for business finance, the business entity must have an ABN and the vehicle must be for use primarily in the business to meet ATO rulings. ABN holders can be eligible for business finance and new start-ups can apply for Low Doc and No Doc Vehicle Finance through specialist lenders such as Jade Car Loans. Business vehicles must meet [ATO guidelines](https://www.ato.gov.au/Business/Income-and-deductions-for-business/Deductions/Deductions-for-motor-vehicle-expenses/ "Access the Australian Tax Office (ATO) Recommendations") in regard to tax deductibility. Using a private vehicle for business use is also subject to ATO guidelines in regard to what expenses can be claimed by the car owner. ## Rate Comparison Tools The interest rate is a priority when it comes to securing the cheapest car loan. There are multiple resources available to compare motor vehicle finance interest rates across varying sectors of the lending market. While we focus heavily on securing the cheapest rate for our customers, we advise that the rate should be considered in conjunction with all the other aspects of a car loan. A cheap rate with unworkable loan terms and conditions may not be the most attractive option. Consumer finance includes an advertised rate and a comparison rate. When reviewing rates, ensure you are across the difference. To assist customers, we have prepared a table which lists a range of banks and lenders in the motor vehicle market. The table shows the advertised and comparison rate from those lenders so a quick review can be done. This also doubles as a calculator for quick repayment estimate calculations. When using these tools be aware of the difference between fixed and variable interest rates. In the car loan market, a fixed rate will remain fixed at the rate at which the loan is established for the entire term of the loan. A variable rate is subject to fluctuations in line with changes to rates made by that lender. Currently the RBA is in a process of raising the cash rate and those increases flow through to lending markets. So signing up for a variable interest rate car loan means that rate could increase over time. One important point to be extremely aware of when using generic rate comparison resources is that lenders will usually advertise an interest rate which is for applicants that have good credit profile and are purchasing new motor vehicles. Unless it is stated otherwise. Understand that if your credit score is sub-good and/or you are purchasing a second-hand car, the interest rate that you are offered may differ from the advertised or comparison rate. ## Car Loan Calculators A [business car finance calculator](/car-finance-calculator "Use Our Business Vehicle Financing Calculator") is a must-have tool for all car buyers. We offer free use of a calculator and recommend buyers take full use of this resource. It is an online resource so no special software, skills or other IT gear is required. Just internet coverage and a suitable device. Just follow the instructions by inputting the values of loan amount, term and interest rate and a repayment estimate based on those values is displayed. To use this resource properly, be aware that the results attained are estimates and not offers. Using a calculator does not mean you have applied for a loan or been approved. Calculators are great for quickly translating dealer advertised car prices into monthly car loan repayment estimates. They offer a quick and easy way to see what particular makes and models are within your affordability range before you even visit a dealership. ## Credit Profile Resources As mentioned above, applicants with good credit ratings are offered the best interest rates. Achieving and maintaining a good credit score is therefore essential. Resources are available to assist in requesting a free copy of a credit report and advising how to fix any errors as well as general information at the Government website [Moneysmart](https://moneysmart.gov.au/ "Visit the Moneysmart Portal for Financial Guidance"). ## Personal Contact Resources While many people will conduct their background work and research online, many will still want a personalised service when it comes to applying for a [new business vehicle finance](/new-car-finance "Explore Fresh Business Vehicle Financing Opportunities"). Jade Car Loans provides exactly that. When you contact us, you are assigned your own consultant who will handle your car loan on your behalf. Every application is treated individually, and the cheapest loan quote is sourced from across our vast lender panel of banks, finance companies, and other non-bank lenders. We save customers time while securing better rates and cheaper loans. Our extensive resources are available to your through our broker-style lender services. Hopefully, this information adds to your knowledge base and directs you to the tools and resources to assist in your securing the cheapest and most suitable car loan. **Contact Jade Car Loans 1300 000 003 for personal service in securing the cheapest car loan.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [RBA Rate Rises for Third Consecutive Month](https://www.jadecarloans.com.au/blog/rba-rate-rises-for-third-consecutive-month) **Published:** July 10, 2022 **Author:** Publisher **Content:** As predicted, the Board of the Reserve Bank of Australia (RBA) lifted the cash rate at its 5 July meeting. This is the third month in a row of RBA rate rises as the central bank addresses the surging inflation in Australia. RBA rate rises have an impact on car loan interest rates putting greater importance on engaging a finance broker to source the cheaper rates available. The July rise in the cash rate is 0.5% which raises the rate to 1.35%, increases of 1.25% in just the past 3 months with further rises strongly tipped for at least August. The key objective of these rate rises is to address inflation. An issue that households and businesses are dealing with on a daily basis with soaring prices across many markets. Inflation is currently at 5.1% and expected to increase further to around 7% in 2022. Inflation figures will be released later in July and these are likely to determine the RBA’s August decision. The effect on inflation of monetary policy that is rate rises takes some time to kick in. It is not an instant outcome. So households and businesses face the dual challenges of continuing high prices and higher interest on loans and finance until the new policy settings take effect. Treasurer Jim Chalmers has urged the banks to pass on the increase in interest rates to savings accounts. Many Australians have money in savings and that little extra in interest may ease at least to some extent, rising outgoings. ## RBA July 2022 Statement The [statement](https://www.rba.gov.au/media-releases/2022/mr-22-20.html "Official Website of the RBA - Reserve Bank of Australia") released by the RBA Governor Philip Lowe on 5 July outlines the reasoning behind the July rate hike and the Board’s outlook moving forward. The statement notes the high rate of global inflation which is being driven higher by a combination of events: supply chain disruptions primarily caused by the ongoing COVID situation; Ukraine war situation; and the strength of demand in a climate with reduced capacity. The Board notes that monetary policy internationally has responded to the high rates of inflation but it will take time for the effect to be felt. Inflation rates in Australia are high but not at the same levels as in other countries. The global issues are noted as accounting for much of the rises in Australian inflation but there are also local factors contributing to the rise. These include strong demand and the continuing labour market tightness. The labour market issue reduces the capacity of businesses to realise full production which flows through to supply. The current flood situation, the fourth this year in some regions, is having serious impacts on produce prices. The RBA forecasts inflation to reach a peak in late 2022 before declining to the 2-3% range in 2023. Even if inflation is at high levels, the Board expects it to moderate when the global supply issues ease and when the prices of commodities stabilise. A more ‘sustainable balance’ between supply and demand for goods and for services will be assisted through the higher rates of interest. The medium-term outlook for inflation is as the RBA puts it ’well anchored’. The complete set of the forecast updates will be available with the June CPI figures due next month. Governor Lowe repeated a number of comments from previous Board statements. Those being the resilience of the economy in Australia and the tight labour market with unemployment remaining steady at a very low 3.9%. An aspect of concern for the RBA Board in relation to economic outlooks continues to be household spending behaviour with budgets under pressure with rising prices and rates. The Board will paying close attention to this and the global outlook. The closing comments in the July statement include that the July rate rise is another step in withdrawing the extraordinary support through monetary policy provided during the worst effects of the COVID pandemic. This has been stated previously as the RBA looks to return monetary policy and the cash rate to normal levels. The RBA is expected to take additional steps in coming months. When and by how much further rate rises will be will be based on data and the inflation and labour market outlooks. ## Interest Rate Outlook Some economists are saying if that rate of inflation is extremely high in the June CPI data, the RBA’s August rise could be more like 0.75% than 0.5% which has been intimated by Governor Philip Lowe. But others expect the rate may only be 0.25%. As mentioned above, the flood scenario which has hit the produce sector hard in NSW will continue to put pressure on supermarket prices in the time ahead. The COVID situation in Australia continues to be a factor. The continuing large case numbers put people off work and place pressure on business to achieve production targets. This reduces supply and puts pressure on prices. Until the effects of these recent rate rises start to have an impact on inflation, it can be expected that interest rates will remain at higher levels. Though this should be viewed in context. The cash rate of 0.1% which was in place from November 2020 to May 2022 was an historic low and part of extraordinary measures. So the current rises are restoring rates to more normal levels. ## Rate Rise Impact on Motor Vehicle Finance RBA rate rises for the cash rate flow across all lending markets. The major banks passed on the rate rise within days of the RBA meeting. Some actually moved prior to the meeting to lift their rates. For those that currently have fixed interest rate car loans, the RBA rate rises will not impact that loan or change the repayments. With all our personal car loan and business vehicle finance products we secure these with a [fixed business car loan interest rate](/car-finance-interest-rates "Competitive Rates for Commercial Vehicle Financing"). With possibly a similar RBA rate rise expected in August, the message is extremely clear. Get in quick for car loans and engage our services to secure the cheapest motor vehicle finance rate from across our vast lender panel. Rates do vary across the car loan market, and now, with the help of our [business vehicle finance calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online"), is a very important time to secure the cheapest rate to ensure lower repayments over the term of the loan. **Contact Jade Car Loans on 1300 000 003 to secure the cheapest interest rate car loans from across the motor vehicle finance market.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [How to get a car loan within your budget](https://www.jadecarloans.com.au/blog/how-to-get-a-car-loan-within-your-budget) **Published:** July 10, 2022 **Author:** Publisher **Content:** Getting a car loan may appear to be quite a relatively easy thing to do. The automotive finance market is extensive with many lenders advertising heavily and vying for business. But how to get a car loan that is cheaper and within your budget requires a suitable lender, loan structure and can be assisted with expert finance broker services. The pressure is on both businesses and households to keep their expenses within budget in the face of rising prices and inflation. The [RBA](https://www.rba.gov.au/media-releases/2022/mr-22-20.html "Official Website of the RBA - Reserve Bank of Australia") has acted again in July to raise interest rates which means the interest rates on car loans will also increase. A higher rate can mean higher monthly repayments. So getting the cheapest interest rate can represent a real saving and ease pressure on monthly budgets. When sourcing car loans there are a number of sources and approaches which can be taken. Online services in general terms are great for enabling individuals to handle many aspects of life directly themselves. But when it comes to a major move such as how to get a car loan, engaging with a finance broker can make the process easier and result in a cheaper, more affordable loan. As specialists in car finance, we share our hints for getting a car loan within budget. ## Establishing the Affordability Zone Getting a car loan within budget starts with establishing the budget. You could call that the affordability zone. Arriving at a figure that can be comfortably managed on an ongoing monthly basis over the full term of the loan. In basic terms – the car loan repayments must be affordable. This process can be part of pre-loan preparation as it can speed up the loan process if you are ready to brief your Jade Car Loan consultant with your precise preferences and requirements. It can also be extremely helpful when it comes to deciding exactly which car you can afford to purchase. Achieving the magic number – that affordable repayments amount, can be approached in a number of ways:- - Getting the [cheapest car loan interest rate](/car-finance-interest-rates "Competitive Business Vehicle Finance Rates at Jade Car Loans"). - Buying a lower-priced car. Not necessarily used rather than new because interest rates and loan conditions can be different for used and new cars. - Getting the right car loan term. Using a [business car repayment calculator](/car-finance-calculator "Calculate Your Business Car Loan Online") can greatly assist in this process. It allows you to play with different configurations of car prices, loan terms and interest rates to find the ideal combination that is within the affordability zone. Balancing personal budgets is a very individual process which may be assisted with the support of a financial advisor. Financial advisors provide different services from our role as a motor vehicle finance broker. Our role is to source the finance not advise individuals in regard to personal financial matters. But consumer finance is regulated through [ASIC](https://asic.gov.au/ "Access ASIC's Official Website for Regulatory Information") and we abide by the Responsible Lender Guidelines. Key to these guidelines is that individuals must not be offered a loan which is not suitable for them. Decisions can be made around deposits in order to reduce the loan amount which in turn may bring the repayments into the affordability zone. Making a down payment rather than including the full purchase price in the car loan can be considered. ## Achieving Cheapest Car Loan Interest Rate Offer The cheapest car loan interest rate is key to the cheapest car loan and lowest repayments and the end goal of getting a loan within budget. To achieve the cheapest rate, there are two main factors to consider – choice of lender and credit profile. Interest rates on car loans will vary across the lender market as can be seen in our comparison guide. This is due to a number of factors including where the lender sources they own funds, the price lenders pay on their own funds, lender costs and expenses, individual lending guidelines and their interest in being competitive in key markets. Loan applicants can either do all the hard work of submitting applications to quite a few lenders in order to get quotes to compare or they can simply use our services. We’re accredited with multiple banks and non-bank lenders. Our consultants have access to the knowledge around which lender will best suit the applicant and which are offering the best rates at that particular time. The other aspect to consider is the individual [credit profile](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Learn About Your Financial History and Creditworthiness"). The cheapest interest rates are typically offered to applicants with a good credit rating. Reducing debt levels and ensuring the credit score is as high as possible is critical to being offered the cheapest rated loan. To ensure the car loan is within budget aim at achieving the cheapest interest rate by engaging the assistance of our broker-style services. ## Arriving at the Ideal Car Loan Term Getting a car loan within budget usually means a monthly repayment amount which works with other monthly expenses. The interest rate, loan amount and the loan term determine the repayment amount. The longer the car loan term the lower the monthly repayment. But keep in mind, the longer the term the more interest in total will be payable. Deciding the car loan term is not always up to the applicant. Lenders will have their own guidelines around this aspect and their offers will include an assessment of the applicant’s credit history. Using our services can assist as our consultants handle negotiations to achieve the most suitable and achievable loan terms. Another issue to consider is how long you plan to keep the car. Ensuring those intentions are in line with the loan term can result in avoiding all payout fees. These are all simple steps that can be followed to get a car loan within budget and can be supported with our services. **Contact Jade Car Loans 1300 000 003 for assist in how to get a car loan within budget.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Getting cheaper car finance when rates, costs rise](https://www.jadecarloans.com.au/blog/getting-cheaper-car-finance-when-rates-costs-rise) **Published:** July 17, 2022 **Author:** Publisher **Content:** In the current climate of rising prices, rates and inflation putting pressure on the budget and the business bottom line, increased diligence with major purchases may be required. When a new car or business vehicle is still on the must-have list, a key priority will be cheaper car finance. Any savings or reductions achieved in rates and repayments may be the difference between the car purchase becoming a reality or being consigned to the back burner. Sounds logical and sensible. But how do you make it possible? How can cheaper vehicle finance be achieved in the current economic environment? New car buyers can consider a number of actions in order to achieve cheaper car finance even as interest rates rises and inflation forces prices up. The approach adopted may vary depending on individual requirements but may be worth considering to ensure the car loan repayments are cheaper and that can mean, affordable. ## Price and Cost Pressures to Consider Understanding where the current cost pressures are emanating may provide background and assist in planning the car finance. Inflation sits at 5.1% with expectations from the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") that it will rise to 7% before we see the end of 2022. This is placing upward pressure on prices for many goods and services which then puts pressure on household and business budgets. Inflationary pressures are being attributed to a combination and range of both global and domestic factors including supply issues, constraints on business to achieve capacity, increased demand and ongoing issues being caused by the COVID-19 pandemic in some countries. To address rising inflation and return it to levels around 2% to 3%, the RBA is moving to raise the cash rate. As part of monetary policy rising the central rate is a measure utilised by central banks to curb spending and arrest spiralling inflation. Interest rates have risen significantly in the past 3 months with the RBA lifting the cash rate from that historic low of 0.1% to 1.35% as of the Board’s July meeting. This has increased many home mortgage payments in particular. Business owners and operators are facing additional cost pressures from a number of fronts. Rises in the minimum wage, increase in the superannuation guarantee and the upcoming expiration of the fuel tax pause just a few to mention. For those with existing car finance and feeling budget pressures, reaching out for assistance from your lender or speaking with a financial advisor may be advisable. ## Cheaper Motor Vehicle Finance – Lender Market A key step in securing cheaper car finance is rethinking lender choices. Not all car loans are created equal so to speak. At least not in regard to the interest rate and suitability to the specific requirements of individuals and businesses. Interest rates vary across the motor vehicle finance lending market as banks, finance companies, dealers and manufacturers use their own individual guidelines to set their rates. Yes, there may be some that are the same and the variations in some instances may only be slight. But while a small rate variation may appear small when expressed as an interest rate, a different scenario emerges in relation to total interest payable on the car loan. By using a [commercial car finance calculator](/car-finance-calculator "Calculate Your Business Car Loan Online") and working up repayment estimates at varying interest rates, you’ll see the difference. Calculate that one repayment amount over the full selected loan term and that figure with loan amount deducted, provides an indication of total interest payable. Another factor to appreciate is that the cheapest rates advertised apply to loan applicants with good credit scores. So the process for getting cheaper car finance is to be in a position to scour a vast cross-section of the market to find the cheapest rates, apply to those lenders to see exactly what rate and loan conditions will apply for your specific application. A very time-consuming process for individuals. The faster and more accurate option is to use a finance broker such as [Jade Car Loans](/why-jade-car-loans "Jade Car Loans: Your Path to Affordable Vehicle Financing"). ## How can a broker such as Jade Car Loans achieve cheaper car loan rates? We have accreditation with a large selection of motor vehicle finance lenders that offer both private vehicle and business vehicle loans. This entitles our consultants to source finance on behalf of our customers from those lenders. Our latest data and research resources provides us with the latest information around rates and loans. Information which is typically available only to those in the industry. We also have the expert knowledge to know exactly which lenders will best suit individual customers. Suitability can come down to loan conditions, loans on certain types of vehicles and particularly the application details. These issues can result in a higher rated loan from a less suited lender. Our services are available for both private individuals and business operators and not restricted by the type of vehicle being purchased. ## Proactive Steps to Cheaper Interest Rate Car Loans In addition to utilise our services, buyers can take some proactive steps. Specifically ensuring that they have a good credit score. Errors on credit reports may be fixed by following the [correct procedures](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports). Some buyers may think that buying a used car rather than a new vehicle would result in a cheaper car loan because the price is less. That may not be the case as interest rates on used cars can be higher than for brand new. If getting lower repayments is the goal, considering reducing the amount required for the loan by buying a lower priced model or paying a larger deposit. Our consultants can also assist in achieving a target repayment by negotiating with lenders around the term of the [abn holder car finance loan](/abn-car-loan "Explore Car Financing Options for ABN Holders"). As inflation, interest rates and prices on many goods and services continue in the current upward trajectory, making the effort to consider the options available when sourcing car finance can be worthwhile. **Contact Jade Car Loans 1300 000 003 for cheaper car finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Toyota Again Tops Monthly Top Selling Cars](https://www.jadecarloans.com.au/blog/toyota-again-tops-monthly-top-selling-cars) **Published:** July 17, 2022 **Author:** Publisher **Content:** With very little surprise for those that follow the motor vehicle market, Toyota has once again come in as the leading brand in June’s top selling cars figures. The results for new car sales were released by the FCAI recently and with several models in the top 25, Toyota continued its reign as Australia’s top seller brand. The new car market is going through a difficult period due to the ongoing pandemic-related supply chain issues and the semi-conductor shortage. Both of which have caused production shutdowns in for most manufacturers and long delays for Australian buyers to get the keys to the car of their choice. While it can be of interest to buyers and enthusiasts to follow the monthly car sales reports, the current situation in regard to delivery delays has overshadowed the relevance of the data in regard actual popularity. The figures represent cars delivered for the month not the number of orders awaiting delivery. Used car sales are not reported through the FCAI VFACTS system. Car buyers perusing the monthly top selling cars figures can use a motor finance calculator to calculate repayment estimates to assist with purchasing decisions. ## Supply Constraints Continue to Impact New Car Sales Before getting into the specific data, we report on the statement released by Tony Weber from the [FCAI](https://www.fcai.com.au/ "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") in conjunction with the latest VFACTS figures. The sales in total for June 2022 9.7% down on the same period in 2021. As he has in previous monthly announcements, Mr Weber reiterated the issues which continue as impediments to supply of new vehicles in Australia. The issues are of course the ongoing COVID situation overseas, Ukraine situation and the shipping problems. Mr Weber said car makers were still dealing with plant shutdowns and that microprocessor supply still posed issues. According to the FCAI, demand for new cars remains strong however, the issues around supply look like continuing for a while yet. The FCAI revealed Toyota as the top selling brand overall for June 2022. Kia then Hyundai followed with Mazda and then Mitsubishi making up the top 5. The passenger car segment was down 21% compared with June 2021 and the SUV segment also dropped by 2.3%. ## Specific Model Sales Results Knowing what specific models are selling best may provide buyers with some indication of possible availability. Information which may assist the buying process. But be aware that these sales may be deliveries for long-standing orders and dealers may not have much if any additional stock. But it can be worth checking out the data and following-up with your local dealer. Tip: many dealers have a portal on their website which shows current stock. It’s a handy resource to save making lots of phone calls. Top selling models for June were: HiLux, Tucson, Ranger, Corolla, RAV4, D-MAX, Sportage, Triton, i30 and MG HS. MG models have sold well in recent months and HS sales are up 79% for June 2022 compared with June 2021. This could be a sign of availability for those considering a reasonably inexpensive model. Lower down the sales figures comes the Outlander, Toyota’s Kluger, Cerato, Prado, one of the LandCruiser models, MG ZS, GWM’s ute, 79 Series LandCruiser, and Subaru’s Outback. Ford’s Everest and the Kona from Hyundai. Another MG, the 3 and three Mazda’s – BT 50, CX-3 and CX-5 round out the month’s best sellers. An added note to our availability-sales figures comment – we do know from enquiries that back in March Mazda was taking deposits and orders for CX-3 models for June-July delivery. The monthly vehicle sales figures are broken down per category. Too many for us to report here. But those interested can see the details as [Drive](https://www.drive.com.au/news/top-25-best-selling-cars-australia-june-2022/) has posted the full listing with top three in each category. ## Selection of Motor Vehicle Finance In conjunction with selecting and sourcing a new vehicle, most buyers will need to select their car finance. Car loans differ for private and business buyers. The [Secured Car Loan](/secured-car-loans "Get Behind the Wheel with a Collateral-Based Auto Financing Solution") is the most commonly used loan and well-suited for individuals purchasing a new car for private use. Our Secured Car Loan has a fixed interest rate so once secured, the repayments and rate will not be impacted by future rate rises. The rate is fixed over the complete loan term. Those purchasing vehicles for business use can select from a number of [lowest business vehicle loans](https://www.jadecarloans.com.au/business-car-finance.php "car loan for business"):- - Leasing - Chattel Mortgage - Commercial Hire Purchase Business owners are encouraged to discuss which particular loan will work best with their operation. The rates, loan features and approach to taxation benefits vary across the finance products. All our car finance is available for pre-approved motor vehicle finance so the loan can be arranged and confirmed prior to final selection and purchase. This can be a major advantage when stock is low and the rule ‘first-in-first-to-drive-away’ applies! **Contact Jade Car Loans 1300 000 003 for new car finance on a top seller.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Rate Rise Pressure with Low Unemployment Rate](https://www.jadecarloans.com.au/blog/rate-rise-pressure-with-low-unemployment-rate) **Published:** July 25, 2022 **Author:** Publisher **Content:** In a surprise to many, the unemployment rate dropped significantly in June. While good news for some in the economy, the low unemployment rate spells bad news for that other significant economic rate – interest rates. The rate of unemployment in conjunction with the rate of inflation are the two key drivers for RBA decisions around the cash rate. The June low unemployment rate of 3.5% is seen by many analysts as placing more pressure on the RBA to announce a major rate rise at the August Board meeting. The recent RBA rate rise decisions have fed through to the motor vehicle finance sector with increased rates across both consumer and business finance. While an August is expected, it was expected to possibly be in the vicinity of 0.5%. These latest employment figures now have the markets bracing for a more significant August rise. While individuals seeking car loans need to face the reality of further rate rises, for business owners the employment figures represent a range of additional challenges. We report on the ABS June employment figures to provide insights for those planning car purchases with finance and to assist businesses to appreciate the significance of the situation. ## June Employment Figures The Australian Bureau of Statistics is the organisation tasked with compiling and releasing a range of statistics including for employment in Australia. The Bureau releases a detailed coverage of the statistics in a media statement. The [unemployment rate in June](https://www.abs.gov.au/media-centre/media-releases/unemployment-rate-falls-35 "June's Joblessness Statistics and Figures") dropped from 3.9% recorded in May to a 50 year low of 3.5% in June. The size of the fall is quite surprising. The rate of unemployment has been dropping steadily over the latter part of 2021 and the first few months of 2022 as the economy comes out of lockdown and other COVID-19 restrictions. But recent falls have been around 0.1% and for around two months the rate was steady at 3.9%. In the media statement, the ABS’s Bjorn Jarvis notes that the June fall represents 8 months in a row of unemployment rate falls which corresponds to the winding back of restrictions. The June seasonally adjusted rate is the lowest recorded going back to the 2.7% of August 1974. At that time records were reported quarterly whereas now they are reported monthly. Comparing men with women: 3.4% for women, the lowest going back to February in 1974 and 3.6% men, the lowest since May in 1976. Mr Jarvis reported the state rates which show drops for all states except Western Australia where unemployment actually increased by 0.3%. NSW posted a large drop of 0.7%, Victoria dropped by 0.5% and Queensland 0.1%. Another key statistic reported was the hours lost due to illness. Mr Jarvis said high rates were persisted for workers unable to work due to illness. These stats are in line with the flu and COVID-19 case numbers and further underlines the ongoing business challenges being faced. ## Business Owner Considerations Before getting into a discussion of the impact on interest rates, it’s worth outlining how the low unemployment rate and high illness-related stats impact business operations. The low rate backs [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") comments over several months regarding the tight labour conditions in the economy. A low unemployment rate means less people are looking for and unavailable to fill vacancies. Businesses are continuing to face issues filling job roles which is restricting their ability to operate fully. This is seen as a major constraint, a contributor to the supply issues and as such more fuel for surging inflation. Having staff off sick is also contributing to reduced operational capacity. Many businesses are needing to compete for staff with offers of cash incentives and higher wages. Moves which are adding to expenses through increased wage bills. ## Motor Vehicle Finance Interest Rate Impacts Many economists are already talking about these latest employment figures as putting even more pressure on the RBA to act more strongly on interest rates. Expectations for the August increase have been stated by some as a full 1% not the previously anticipated 0.25% to 0.5%. For those planning vehicle purchases with finance, this will play out through the lending sector with rises in personal car loan rates and [business motor vehicle loan](/business-car-finance "Discover Tailored Financing Solutions for Your Commercial car") rates. Our message to buyers now is the same as we have been saying for several months – proceed as quickly as possible before even more rate rises. While we will always be working to secure the cheapest [business car loan interest rates](/car-finance-interest-rates "Competitive Rates for Commercial Vehicle Financing") for our customers, our lenders, like the market, will be responding to RBA rate rises. The amount that each individual lender may increase their motor vehicle finance rates will be based on their own decisions. When rates are on the rise, utilising our services can provide even better outcomes for car finance applicants than when rates are low. We have accreditation with many banks and non-bank lenders. This provides us with more choices and that can mean a greater possibility of identifying and securing the best car loan interest rate. **Contact Jade Car Loans 1300 000 003 for cheaper car finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Overcoming Issues with Sole Trader Van Finance](https://www.jadecarloans.com.au/blog/overcoming-issues-with-sole-trader-van-finance) **Published:** July 25, 2022 **Author:** Publisher **Content:** Purchasing a light commercial van to set up a business as a contract delivery service is a very popular way for individuals to move into self-employment. Many companies contract out their delivery services and with online shopping still booming post-pandemic, there may be plenty of opportunities for new operators. The work prospects may be positive for self-employed owner drivers but there may first be obstacles to overcome when seeking sole trader van finance. The prospect of becoming a van owner-driver can represent a relatively modest investment with the light commercial vehicle being the major requirement. But contract driver can be highly competitive with quite tight pricing from companies contracting out their work. Operators need to keep their ongoing expenses under control to ensure productivity and profitability. To ensure profitability, sole traders need to secure workable finance for their van purchase. On first researching the van finance market for new businesses, operators may be disappointed to notice that many lenders do not offer finance for those just starting out. Some will have eligibility criteria which precludes brand new sole traders. But there are lenders they do provide affordable and workable finance for these types of business set-ups through Low Docs and No Doc Vehicle Finance. Working through a finance broker rather than taking on the task alone can be faster, easier and deliver better outcomes. As a specialist business vehicle finance lender Jade Car Loans can assist new operators overcome the issues and secure affordable sole trader van finance. We are accredited with a vast selection of bank and non-bank lenders which provides us with more choices to source the finance which is best-suited to each of our customers. With the [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") set to increase interest rates possibly several more times in 2022, the priority for most new operators will be to secure finance at the cheapest interest rate to support their operation through that very important first few years. ## Sole Trader Van Finance Options The two major issues confronting new sole traders seeking finance are the lack of financial records and business documentation and the length of time in business. These are two of the key criteria to be eligible for business finance with many banks and lenders. To overcome both of those issues, we offer Low Doc and No Doc Vehicle Finance through our specialist non-bank lenders. This type of finance is not specifically a loan category but essentially a description of the business that is applying for the finance. Docs is a reference to the financials which are usually required for the application. Low Docs means very little documentation is available and No Doc means essentially no records are available to support the application. This type of finance is designed to suit the specific needs of operators that are starting a new business. The essential requirements for Low Doc No Doc Van Finance include: - Current ABN - Identification From that basic starting point, applicants can improve their prospects of being made a cheaper interest rate offer with:- - GST registration is not essential but can be viewed positively by some lenders. Businesses with turnover exceeding $75,000 pa are required to register for GST and submit Business Activity Statements accordingly. - Sole trader holding a personal good credit score. As the business will be yet to establish its own credit rating, the credit profile of the owner will be assessed as part of application approval process. A better credit rating definitely contributes to better interest rate loans across the board. - Supporting the application with even simply prepared figures of potential income and expenses. These may take the form of a business plan and may include contracts secured with customers with projected earnings. - In conjunction with the assessment of the individual’s credit profile, an assessment of the owner’s financial situation may also be carried out. Paying down personal debts such as other loans and credit card balances prior to applying may contribute to a better finance offer. ## Sole Trader Finance Conditions While your Jade consultant will be working hard to achieve the cheapest rate and most affordable van loan, sole traders should be prepared for possible conditions on their finance. Conditions for sole traders may include:- - Lenders placing a limit on the finance amount which will be approved. While the sole trader may be seeking no deposit finance so they can borrow 100% of the van purchase price, they should be prepared for the possibility of paying a deposit or selecting a lower priced van. - The term of the finance may also have conditions. While the sole trader may be seeking a longer finance term to achieve lower repayments to keep costs down in those initial first years, they should be prepared for a shorter finance term in some cases. Allowing for this contingency in the business plan may work to a faster outcome being achieved. - Most business finance products are secured by the asset, in this case the van. With Low Doc and No Doc finance, additional security may be requested by our lenders. This may need to be provided by the business owner in the form of personal property or assets. ## Finance Products Available As mentioned above, Low Doc No Doc refers to the applicant not the actual finance product. When approved, sole traders may have their choice of finance product:- - [Sole trader loans for Cars](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners") - Van Leasing - Commercial Hire Purchase for Light Commercial Vans The interest rates and tax deductible elements of each of these products do vary. Sole traders are strongly encouraged to engage with an accountant or financial advisor when selecting which finance product will work best with their individual set-up. ## Overcoming Issues with Workable Outcomes Working with Jade Car Loans has been proven over our many years in this field to achieve positive outcomes for many sole traders seeking finance. Your personal consultant will be working in your best interests and handling the negotiations with our lenders to achieve a [low doc business car loan](/low-docs-car-loans-for-business-vehicles "Explore Simplified Documentation Options for Business Auto Loans") or a van finance outcome that works to support your new business objectives. **Contact Jade Car Loans on 1300 000 003 to discuss sole trader van finance for your new business.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Inflation Soars – What it means for Car Finance Interest Rates](https://www.jadecarloans.com.au/blog/inflation-soars-what-it-means-for-car-finance-interest-rates) **Published:** August 3, 2022 **Author:** Publisher **Content:** Last week we reported on the latest employment figures and the effect these may have on car finance interest rates. This week another set of economic data was released – the latest inflation figures, and these will also have implications for car loan rates. The Australian Bureau of Statistics (ABS) released the inflation figures for the June 2022 quarter, reporting that the CPI inflation rate had soared to 6.1% The quarterly increase was 1.8% which followed the 2.1% increase in the March quarter and represents the second highest quarterly increase since GST was introduced over 20 years ago. The Federal Treasurer, Jim Chalmers, said that the latest inflation figures, while not a surprise to the government, were confronting. Mr Chalmers released an economic forecast statement regarding the cost of living pressures facing Australians on 28 July ahead of the October budget. In that statement, he forecast inflation could reach 7.75% in the December quarter. **The latest inflation figures as released by the ABS will place pressure on the RBA for further rate rises which will flow through to car finance interest rates.** This comes at a time when car buyers have been facing delays in delivery of new vehicles as a result of global supply chain issues. With rates set to rise further, buyers will be wanting to focus even more closely on achieving the cheapest car loan interest rates on the market. We explain the significance of soaring inflation on car loan rates and what buyers can do to ensure they still achieve the best rates. ## ABS Releases Latest Inflation Figures The ABS released the June 2022 quarterly inflation figures on 27 July. Officially known as the consumer price index inflation (CPI inflation) the figure was lower than the previous quarter but still resulted in the highest rate in 20 years. ## Key points from the ABS statement: - Annual inflation at 6.1%. When large rises and falls in prices are excluded, rate sits at 4.9% - Highest rate since 2003 when the ABS first began publishing the series of data. - Attributed to higher construction costs for housing and fuel prices. - 79% of the CPI rise was accounted for by rises in goods price. The ABS says this reflects higher cost of freight, strong demand and constrained supply. - Fuel prices recorded a rise for the 8th quarter in a row. These price pressures flow through to the consumer market. Attributed to the Ukraine war which has resulted in a shock in oil prices as well as COVID restrictions easing globally which is driving demand. - Price increases reported in both food and non-food grocery items for the quarter. Attributed to disruptions in supply chains and increased costs of transport and of input. - Flood events and labour shortages attributed to higher food prices. - Services prices recorded lesser rise than that for goods. ## Inflation and RBA Cash Rates The [RBA](https://www.rba.gov.au/ "Official Website of the RBA - Reserve Bank of Australia") takes account of inflation as a key in making decisions around cash rate changes. Over the past few months the RBA has lifted the cash rate by 1.25% to address soaring inflation. While the June quarter inflation rate is reportedly less than many economists had predicted, it still leaves the rate at a 20 year high. A high rate will place further pressure on the Board of the RBA to announce yet another significant cash rate rise at its 2 August meeting. Expectations following the release of the recent employment figures were for possibly up to a 1% hike. But a 0.5% is appearing more likely. If this occurs, it would put the cash rate at 1.85% which would be the highest seen since 2016. ## Significance of Car Finance Rates Soaring inflation flows through to rises in the cash rate by the RBA which then flow through to lending markets including motor vehicle finance interest rates. The motor vehicle finance market is one of the largest and most competitive in Australia and lenders will be adjusting their rates based on individual guidelines and decisions. With such competition across the market, buyers seeking the cheapest car loan interest rate can utilise the services of a specialist motor vehicle finance broker such as Jade Car Loans. We have accreditation with multiple lenders. This allows our consultants to quickly and easily source the cheapest rates for individual customer requirements. Motor vehicle finance rate rises would be seen in both consumer loans – [Secured Car Loan](/personal-car-finance "Unlock Your Auto Dreams with a Collateral-Backed Vehicle Loan") and across [business vehicle finance](/overview-of-business-car-finance "Explore Financing Options for Commercial Vehicles"). Those with existing fixed interest rate motor vehicle finance should not be impacted by rate rises over the term of the loan. The rates advertised by lenders will typically be for new vehicles and for applicants that have a good credit record and score, unless otherwise indicated. Maintaining a good credit score can contribute to being offered a lower rate which can relate to lower car loan repayments. Using our services can assist buyers to quickly and easily survey a wide section of the car finance market to secure the cheapest rate. **Contact Jade Car Loans 1300 000 003 for cheaper car finance as rates are set to rise.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Using a Car Finance Broker for personal Car Loans](https://www.jadecarloans.com.au/blog/using-a-car-finance-broker-for-personal-car-loans) **Published:** August 4, 2022 **Author:** Publisher **Content:** The period of historic low interest rates from November 2020 to May 2022 was a great time to secure the cheapest personal car loans in a long time. Many lenders across the motor vehicle finance sector were well-placed to offer something of the best deals on new car loans in many years. But now, as the [RBA](https://www.rba.gov.au/ "Access Information from the Reserve Bank of Australia (RBA)") moves to curb the soaring rate of inflation, interest rates are on the rise across all lending markets. The RBA has moved to increase the cash rate by 1.25% in just three months. Based on the latest employment and inflation figures as released recently by the [Australian Bureau of Statistics](https://www.abs.gov.au/ "Visit the Official Website of the Australian Bureau of Statistics") further interest rate rises are a certainty. As motor vehicle finance rates are on the rise, car buyers seeking finance will no doubt be wondering how they can go about finding the cheapest interest rate car loans on the market. The motor vehicle finance market is one of the most competitive and largest lending sectors in Australia. With so many different lenders, loan types, and rates, buyers need to be extremely savvy in achieving the loan that best suits their needs and at the cheapest rate. To achieve both those objectives, car buyers can utilise the services of a finance broker style lender such as Jade Car Loans. ## Not just for Business Buyers Many private car buyers may think that brokers are just for business. A special service which is made available for businesses to arrange their finance. Nothing could be further from the truth, at least with Jade. **Our broker-style Jade Car Loans services are available to all customers, those purchasing business vehicles and those buying personal, private and family cars.** Our finance options extend across both the [business vehicle finance](/business-car-finance "Discover Tailored Solutions for Your Company's Vehicle Financing Needs") and personal car loan range. Private individuals seeking finance for the purchase of a new or a used vehicle are welcome to use our services and realise the benefits of having their car loan professionally sourced and negotiated on their behalf. Many customers have already realised how quick and easy the process is to achieve better interest rate car loans. With rates rising, perhaps it’s time you considered this change to the way you normally source car finance. ## What to Expect Don’t be worried that as a private car buyer, possibly of a medium or even small car, that you will be treated with any lesser service than a business buyer. As long as the loan required is above our minimum, all customers are welcome. Working with us is easy and straight forward and our consultants are friendly and extremely helpful. It all starts with a phone conversation or email exchange. You will be assigned a consultant to give you a single point of contact through the entire process. We are working in your best interests so we are driven to ensure not only the cheapest rated car loan is achieved, but that the process is streamlined and fast. As a private car buyer, the car loan required is considered consumer finance. This lending sector is regulated by ASIC and as a Licensed Credit Provider, we adhere to ASIC’s Responsible Lending Guidelines. These are established to protect consumers. The guidelines include information which we are required to obtain from our customers and processes we must follow. To complete the loan application and/or brief our consultants for a quote, you will need to provide information in regard to residential status; income and employment; as well as assets and liabilities and general expenses. And of course in regard to the car you are planning to buy. Permission will also be sought to access your credit history and other information. A review of the credit score forms an important part of the loan application assessment process. Paying down other debts prior to applying for a loan may improve the credit rating and improve the chances of a better interest rate being offered. With this information, your consultant will then source the cheapest car loan offer that best meets your specifications and application. [We are accredited with over 80+ lenders](/why-jade-car-loans "Our Network Includes 80+ Accredited Lenders") – banks, finance companies and non-bank lenders, so we have a vast choice when it comes to sourcing the cheapest rate and the loan conditions that meet each customer’s requirements. ## Private Car Loans For buyers of private vehicles we offer two types of car loans:- - [Secured Car Loan](/personal-car-finance "Drive Your Dreams Forward with a Collateral-Backed Auto Financing") - Unsecured Personal Loan The secured loan will suit most buyers of new cars and many buyers of second-hand vehicles. The vehicle is accepted by the lender as security against the loan and the finance is repaid in equal monthly instalments over a fixed loan term. We arrange this type of loan with a fixed interest rate which remains fixed over the full loan period. With rates on the rise, securing a fixed interest which will not be subject to increase as the RBA raises rates, is particularly important. Where the lender does not consider the vehicle as suitable loan security, the unsecured loan is a workable alternative to consider. Car loans, including [hire purchase cars](/commercial-hire-purchase "Explore Auto Purchase Options with Hire Purchase Plans"), can be secured after the vehicle purchase process has commenced or even before the final purchase decision has been made. Pre-approved car loans can be applied for with a guesstimate of the loan amount/purchase price. This can be particularly helpful in providing a firm quote on what loan repayments may be on certain priced cars. A great way to set the budget and set the sights on cars in an achievable price bracket. Your Jade consultant will come back to you quickly with a quote based on your application. If this meets your expectations and budget and is accepted, we proceed to process the application through approvals and assist with prompt settlement with the car dealer. As inflation soars and prices on many goods and services continue to rise, it is more important than ever to achieve workable, cheap car loans at the best interest rates. Private car buyers can look to achieving these goals by utilising our broker-style lending services. **Contact Jade Car Loans on 1300 000 003 to discuss our we can assist you with personal motor vehicle finance at cheaper interest rates.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [June Inflation Data Supports Further Interest Rates Rises](https://www.jadecarloans.com.au/blog/june-inflation-data-supports-further-interest-rates-rises) **Published:** August 8, 2022 **Author:** Publisher **Content:** The RBA noted in statements earlier in the year that the rate rises would take some time to have an effect on inflation. So the rise in the June quarter came as little surprise. But on the back of the significant fall in unemployment reported earlier in July, these latest figures will certainly support the RBA’s next rate rise decision. The sharp rise in inflation since late 2021 is the main purpose of the recent RBA rate hikes. Additional rises may give further reason to increase rates by more significant amounts and over more months. For businesses planning new asset acquisitions such as trucks, equipment and motor vehicle, being armed with the information around inflation and interest rates may assist in budgeting for such major purchases. Rises in the cash rate flow through the lending markets. Often we see lenders actually increase their interest rates before an RBA monthly decision. Such is the level of expectation in the sector. Businesses can still however, achieve workable, cost-effective finance by working through a specialist broker such as ourselves with broad-based expert lender connections. We update on the latest data, the expected reaction on the markets and tips on achieving cheaper rates in a rising market. ## June Inflation Data The [ABS reported the set of inflation data](https://www.abs.gov.au/media-centre/media-releases/cpi-rose-18-june-2022-quarter "Read the Inflation Data as Reported by the ABS") for the June 2022 quarter in a media statement on 27 July. The statement reports an increase for the quarter of 1.8% for an overall CPI inflation rate of 6.1%. When the rate is trimmed of larger rises and falls, the rate sits at 4.9%. The 1.8% is slightly below that recorded in the March quarter, which was 2.1%. However, the significance of the figures should not be overlooked. These are the two largest quarterly inflation rate increases in over 20 years. Michelle Marquardt, the ABS Head of Prices Statistics, notes this fact stating these as the highest rises since GST came in and data recorded in this manner in 2003. Ms Marquardt said that increasing fuel prices and new housing price increases were the biggest contributors to the inflation rate rise. She said that labour and supplies shortages in the building industry in addition to higher transport charges as well as the strong activity in the industry were pushing new house prices up. Less payments of grants for new houses were made in the period, which also had a contributing effect on prices. The ABS reports on a range of categories – food, non-food goods and services. It was the goods rather than services that contributed the largest portion of the inflation rise – 79%. It was noted that this is a reflection of constraints on supply as well as the strong demand post-pandemic. Many business operators will be extremely aware of the behaviour of fuel prices and their impact on their own operating costs. The ABS statement highlights the concern of the general public around rising fuel prices in its note that fuel prices rose again, making it the 8th quarter of rises consecutively. Much of the fuel situation is attributed to Russia’s invasion of Ukraine and the shock to the oil situation this has created globally. Prices of grocery items, both food and non-food, were up again. This is attributed to supply issues especially in the wake of the early year floods. ## Forecasts and Effects The [RBA](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") is set to announce another cash rate rise on 2 August. In its July statement, Governor Lowe said that the Board would be considering the data to be released later in July – employment and inflation figures, when making the decision around the size of an increase. It was only about three months ago that Treasury forecast inflation would rise to around 4.5% by this time. So the rise to 6.1% is certainly of concern, especially to those planning to take on finance. Treasurer Jim Chalmers delivered a Ministerial Treasury Statement on 28 July, which included inflation forecasts of 7.75% by December 2022, 5.5% by mid-2023 and in the 2-3% range by mid-2024. Based on the forecasts and the economic data, it can be expected that lending rates across all major sectors are set to rise further over the coming months. ## Cheaper Interest Rate Solutions The rate rise scenario is coming as a surprise and new experience for many as rates have not been in an upward spiral since the 1990s. Faced with the current scenario, businesses requiring [business car finance](/business-car-finance "Explore Financing Solutions for Corporate Vehicle Needs") will be seeking ways and means to obtain the cheapest rated finance available. We can assist as specialists in business finance. With a full portfolio of asset finance and [commercial car finance rates](/car-finance-interest-rates "Compare Rates for Business Vehicle Financing"), as well as commercial business loans at cheaper interest rates, and access to a great selection of banks and specialist non-bank lenders, we are well-equipped to source cost-effective finance for our customers. When planning new finance, businesses can consider a number of aspects to reduce the interest rate and/or achieve a target monthly finance repayment figure:- - Choice of finance product – rates vary across the selection. - Factor in the tax deductions available on different finance products. - Take advantage of short-term tax measures such as temporary full expensing to further reduce the overall onus of the finance. Our consultants are trained professionals and ready to discuss a range of options we can offer to assist your business. **Contact Business Finance on 1300 000 033 to discuss achieving cheaper finance rates when rates are on the up.** *DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.* **Categories:** Uncategorised --- ### [Bad Credit Finance Options as Rates Rise](https://www.jadecarloans.com.au/blog/bad-credit-finance-options-as-rates-rise) **Published:** August 8, 2022 **Author:** Publisher **Content:** The increasing rate climate and soaring inflation is placing cost pressures on many businesses. But for those in bad credit situations the prospects can be even more dire and concerning. It is widely accepted that interest rates offered on bad credit business finance would be higher than those for businesses with good credit ratings. Inflation is the key driver of the [RBA’s](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") rate decisions over recent months and with inflation rising by another 1.8% in the June quarter to 6.1%, more rises are certain. While finance rates were coming off a low base having enjoyed the record low of 0.1% cash rate since November 2020, for bad credit finance, the rate increases are on top of a higher base. A cost which the business must absorb into operating costs or pass on to customers with higher prices. Options which can place the business in a vulnerable position. Bad credit finance is not offered by all business lenders such as banks. Businesses requiring this type of finance for new trucks, motor vehicles, equipment or commercial loans such as overdrafts, can benefit significantly from using our service offering. A service which provides each customer with their own consultant to focus purely on their needs and with access to a vast selection of lenders including those that will consider bad credit finance applications. ## Bad Credit Finance Bad credit finance is not in itself a loan or finance type or category. The term is used to describe the business applying for the finance. Businesses with a poor, less than good or bad credit rating. The rating may arise from a range of scenarios such as defaulting on loans, continually missing payments to suppliers, bankruptcy of the business or one of the directors or through management processes. The scenario as to why the business has a bad credit rating can be relevant when applying for finance. Lenders will be interested in the circumstances and depending on the detail, may result in a better outcome. Owner-operators and sole traders may find themselves in a bad credit situation as a result of their personal financial situation. The credit profile of the owners of sole traderships and SMEs can reflect on the business. Maintaining a good business and personal credit profile can be important to the finance prospects of the business. Bad credit is differentiated from businesses requiring Low Doc and No Doc Finance. Businesses in that situation may have quite a good credit profile, but lack the full documentation to complete a business finance application form. ## Sourcing Bad Credit Finance Business owners seeking bad credit finance can either approach the process themselves or seek the professional assistance of a broker-style lender such as ourselves. We see significant benefits in using our style of services. In particular, having a professional finance expert handling the sourcing and negotiations on your behalf and especially opening access to lenders that are open to considering bad credit finance applications. Not all lenders do offer bad credit finance and business owners that choose to handle the process on their own, may risk not being able to source an offer or being offered an exorbitantly priced loan. The loan conditions are particularly important to consider closely with bad credit finance. While most applicants will be prepared to be offered a higher interest rate loan, not all may be prepared for the additional conditions that lenders may place or request on the loan. These can include additional property or guarantees to be put up as security against the finance. This would be additional to the security provided through say an asset such as the truck, equipment or vehicle being financed. Other conditions may apply around how much lenders will approve the loan. The business may be seeking no deposit finance which may not be approved by the lenders. In such instances, the business would need to pay a deposit to the seller to reduce the total loan amount requested. When an application is approved for bad credit finance, the business can select which is the most appropriate type of finance to work with their business structure and accounting method. For asset acquisitions, our finance options include:- - Leasing - Rent to Own - [Car loans for sole traders](/car-chattel-mortgage "Explore Vehicle Financing Options Tailored for Independent Business Owners"") - [Business Hire Purchase Cars](/commercial-hire-purchase "Discover Auto Acquisition Solutions through Business Hire Purchase") Once finance is approved and arranged, it would be expected that the business would be eligible for the relevant tax deductions and measures available at that time, for that finance product and within ATO eligibility criteria. Currently, that includes temporary full expensing which is best suited to Chattel Mortgage asset finance. Positive outcomes are possible for bad credit finance customers even when rates are on the rise. Businesses can contribute to a better outcome by having quality documents to support and complete the finance application and by having a clear view of their objectives and requirements to fully brief our consultants. **Contact Business Finance on 1300 000 033 to discuss bad credit business finance.** *DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.* **Categories:** Uncategorised --- ### [Buying Inspo: New Car Sales July](https://www.jadecarloans.com.au/blog/buying-inspo-new-car-sales-july) **Published:** September 18, 2022 **Author:** Publisher **Content:** Buying a new car used to be an exciting experience. Spending hours online checking out the new models and days leisurely visiting dealerships for a test drive and a bargaining chat over deals and offers. But the supply issues in the new car market over the past few years have turned the search for a new car into somewhat of a treasure hunt to find who actually has stock! As inspiration for where to look, reviewing the monthly new car sales data may assist buyers. **New car sales are reportedly monthly by the FCAI and can assist those looking for who has stock but buyers should be prepared with a pre-approved car loan**. In this current low stock market, being ready to say YES to the dealer once the vehicle is sourced may be the difference between securing a car now or going on the waitlist. We report on the latest FCAI VFACTS for July 2022 and include information on securing a pre-approved car loan prior to purchase. ## FCAI July Sales Report The FCAI reports sales figures for new vehicles, not second-hand, on a monthly basis. The figures are for vehicles which are actually delivered to buyers in that period. In the current new vehicle market, it is worth noting that the figures do not include vehicle orders awaiting delivery. The figures are broken down into makers, models and specific categories. In the statement releasing the [July results](https://www.fcai.com.au/news/index/view/news/774), Tony Weber, the Chief Executive of the FCAI noted that the result was relatively flat, though 0.4% up in total on July 2021, when compared with the same period for 2021. Mr Weber said this indicated that the new car market had not yet normalised to the levels seen pre-pandemic. Mr Weber reiterated comments made on several occasions over the past few years that the market continued to be affected by the COVID situation. Specifically that both manufacturers of vehicles and components were impacted by factory shutdowns, shipping issues and unpredictable logistics. He said that the stabilisation of supply was not expected in the near future. Demand continues to exceed supply which is a trend being seen globally. ## General Sales Overview Despite one less selling day in July 2022 when compared with July 2021, sales overall were up 0.4%. The passenger car market continues to be down, -9.1% for the period compared with 2021 period while the SUV market continues its popularity with a 6.4% comparative increase for the period. [Toyota](http://www.toyota.com.au "Discover the World of Toyota Automobiles") continued its market dominance as the July market leader. Mazda and Hyundai rounded out the manufacturer’s podium. Next came Kia and Mitsubishi. In specific models, there were few surprises with HiLux beating Ford Ranger by quite a large margin, over 6,000 vehicles compared with just under 3,000. The very popular, but hard to secure RAV4 was third. Then came the Mazda CX-5 and Tucson by Hyundai. ## Top Sellers The figures are released for models on a monthly ranking basis and for brands based on figures for the year to date. The top 10 models for July 2022 were: HiLux, Ranger, RAV4, CX-5, Tucson, LandCruiser, Corolla, D-MAX, Triton and Sportage by Kia. The top selling brands YTD are Toyota way out in front of Mazda, then Mitsubishi, Kia, Hyundai, Ford, MG, Isuzu, Subaru and Nissan. In the EV market, PHEV models were outsold by EVs in the period, though only slightly. The sales of PHEVs was up 77.8% for the period compared to the same reporting period in 2021. So possibly electric vehicles are finally gaining acceptance in the Australian market after a low take-up compared with many other countries. So what can prospective buyers make of these results? It’s difficult to draw definite conclusions as some of the sales will have been delivery of back orders. As those in the new car market will be well aware of, long delivery times are to be expected across most brands. However, the sales may indicate which brands do have some stock and may provide guidance for those seeking an immediate purchase. To be in a position to make that quick buy, consider pre-approved motor vehicle finance. ## Pre-Approved Car Loans We provide pre-approved finance across our complete and extensive range of [motor vehicle finance loans](/business-car-finance "Unlock Your Automotive Dreams with Vehicle Financing Loans"). Loans are arranged before the sale is committed to and as such, the loan amount is estimated. The interest rate applicable is the same as the rate which would apply if the loan is applied for post-sale commitment. Rates vary across loan products and in regard to aspects of the individual loan application. The best rates advertised will be for good credit score applicants. Interest rates are on the rise, so it is important to realise that pre-approved loans are based on the [business car financing rates](/car-finance-interest-rates "Explore Competitive Rates for Corporate Vehicle Financing") at the time of application but this type of loan does have a time limitation. The pre-approved loan must be acted on within the time as specified by our consultant. If the loan offer expires before use but is required at a later date, it would need to be re-quoted based on the interest rates at that time. As Mr Weber indicated, the new car market has still not returned to the normal levels of supply. So those in the market for a new vehicle may need to consider a range of make and model options to secure a vehicle ASAP or go on the waitlist. Prices for many models are increasing due to many factors. So securing your vehicle asap may result in saving money on the price and securing a cheaper interest rate. Overall, it could be financially better to opt for the second or third preference rather than wait 6-12 months for the number one pick to arrive in Australia. The next round of sales figures will be due in early September. **Contact Jade Car Loans at 1300 000 003 to discuss the options for cheaper interest rate new car finance** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Reduce purchase costs – car deals and cheaper motor vehicle finance](https://www.jadecarloans.com.au/blog/reduce-purchase-costs-car-deals-and-cheaper-motor-vehicle-finance) **Published:** September 25, 2022 **Author:** Publisher **Content:** We recently posted an article on the topic of less deals being available in the car market due to the limited supply issues. That article discussed how **with many new models arriving with higher price tags, buyers can look to securing cheaper motor vehicle finance to reduce the overall purchase cost**. But, with a little more digging around and research, we’ve uncovered a number of manufacturers that are currently offering deals on new vehicles. With demand outstripping supply in many sectors of the motor vehicle market at the moment, buyers will need to be quick to capture the deals and offers. Many buyers are onto the need to realise any savings possible on new vehicle purchases due to current cost-of-living pressures and the rises on some newer models. Some offers and deals will be limited to certain states, specific buyer categories and have timeframes. Those interested are advised to do their independent research and check the details and be quick. Deals on new cars are not as readily available as usual and the supply side of the market is not expected to stabilize until next year. At that stage we may see the return of the traditional dealer haggling. But the prices of new models may be a lot higher than current models. So any discount or special offer now, may provide a significant savings. To ensure buyers are in a position to commit to the purchase on first test drive, we provide pre-approved car finance. This is available across our full selection of both [business vehicle finances](/overview-of-business-car-finance "Explore Financing Solutions for Corporate Vehicles") and private car loans. Our cheaper interest rates apply to both finance that is secured prior to purchase and loans arranged after that purchase commitment has been made. So what’s the deal? ## Ute Deals Mitsubishi Triton came in third behind the HiLux and Ranger in the August best-selling ute figures. So those looking for a new ute may like to consider the deals on offer from Mitsubishi. The Triton GLX-R 4 x 4 auto is currently being offered at $49,990 driveaway. The [offer details](https://www.mitsubishi-motors.com.au/offers/offer-details.html?sku=MR4V47-2022-5 "Get the Specifics of This Offer") do specify ‘private buyers in NSW only’. However, we have seen media reports that the offer is for ABN holders. So best to contact your local Mitsubishi dealer to discuss the specifics. ## Electric Vehicle Offer The move to EVs in Australia is ‘on’, based on the latest sales figures and comments from the FCAI. But the higher price has been somewhat of a turn-off for many buyers. Possibly this is time to consider the MG range. MG is offering a great price on one of its 2022 ZS Essence models which is very competitive. Plus a complimentary gift on the purchase of a number of other models. The price advertised for the particular Essence EV is $48,990 driveaway plus the gift. To see what this price may equate to in car loan repayments, use our [Commercial Car Finance Calculator](/car-finance-calculator "Utilise Our Calculator for Business Vehicle Financing"). ## Passenger Car Deal The small category of passenger cars has seen a decline in sales in recent years as buyers favour SUVs. Subsequently, there seem to be less and less models available in this category. Many manufacturers are actually phasing out these models from their ranges. So buyers would want to be keep to secure the last small cars on the market. Take a look at the offer from [Suzuki on the Baleno](https://www.suzuki.com.au/vehicles/hatch/baleno "Explore the Suzuki Baleno Model"). A model which apparently is being phased out. Reports have the deal saving buyers with on-road costs. Contact your local dealer for the specifics of what you could save on this nifty small-sized passenger car. Savings are also apparently available on the Swift and highly competitive pricing on the Ignis. So worth a trip to your Suzuki dealer. ## Motor Vehicle Finance Deals While deals on new cars usually have a deadline – model run-outs, EOFY sales, end of year clearances, [our offer](/why-jade-car-loans) of better interest rates is ongoing. Currently, interest rates are on the rise as the RBA implements measures to address soaring inflation and return rates to normal levels. Lenders respond to RBA decisions with varying approaches. That can result in variations in [motor vehicle finance interest rates](/car-finance-interest-rates "Compare Interest Rates for Auto Financing") across the lender market. We assist buyers to find the cheapest car finance to suit their requirements through our broker-style services. Our consultants do the hard work for you, and quickly, to source the cheapest vehicle finance rates to save our customers on the car purchases. The interest rate is critical to the overall cost of the finance and hence to total cost of the actual vehicle. Securing a cheaper rate can reduce that cost. Car buyers requiring finance can also consider a number of other actions to reduce the monthly payments on their car loan and/or the total interest payable. That includes paying a deposit rather than opting for no depositing finance; considering the loan term and how that affects the monthly payment; and for business buyers, considering the balloon/residual amount. To be one of the first in for the current deals on new cars, contact us for pre-approved finance at better interest rates. **Contact Jade Car Loans at 1300 000 003 for pre-approved finance at cheaper rates to quickly capture deals and offers on new cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Rate Rise Impacts on Motor Vehicle Finance](https://www.jadecarloans.com.au/blog/rate-rise-impacts-on-motor-vehicle-finance) **Published:** October 2, 2022 **Author:** Publisher **Content:** The RBA lifted the official cash rate by a further 0.5% at its August Board meeting. This represents the fourth increase in four months, three being at 0.5%. Increasing the cash rate from its historic low of 0.1% where it had been for over 20 months to the current level of 1.85%. While much of the post-rise discussion centres around the home loan market, for our customers the greater significance is likely to be how the rate rise impacts motor vehicle finance. The latest [RBA rate rise](https://www.rba.gov.au/media-releases/2022/mr-22-21.html "Stay Informed about RBA's Recent Interest Rate Adjustment") did not come as any surprise to either the financial markets, lenders or in fact the wider general public. The ABS released the employment figures in mid-July and the inflation figures later that month. Both of which were significant to the RBA’s rate decisions. [Inflation reaching 6.1%](https://www.abs.gov.au/media-centre/media-releases/cpi-rose-18-june-2022-quarter "Read More about the 6.1% Inflation Rate") when only a few months prior the expectation was for around 4.9%. Unemployment dropping to a 50 year low of 3.5%. Both key indicators for RBA decisions. **The latest cash rate rise will flow-on through lending markets including motor vehicle finance but cheaper rates can still be obtained through Jade Car Loans.** We examine the impacts for different types of loans and the options and opportunities available for those seeking vehicle finance to secure cheaper interest rate car loans. ## Vehicle Finance Rates: General Overview The motor vehicle finance market is one of the largest lending markets in Australia. With size comes competition, with a plethora of banks, finance companies, specialist business finance non-bank lenders and car dealers and manufacturers vying for business. Rates can and do vary from lender to lender. How a lender sets their rates on particular loan products and in specific markets will depend on a number of factors. These include their own guidelines or directives in regard to rates; their outlook for the economy and the finance sector; their exposure to the sector; and where they source their own funding. An assessment of individual loan applications will also determine the car loan interest rate which is offered to specific buyers. The rates that individual banks and lenders advertise will typically be based on their best or cheapest rate for the purchase of new vehicles and for loan applicants that have a good credit record, unless otherwise indicated. Those planning to apply for finance can assist their prospects by addressing any issues with the credit profile prior to submitting an application. Interest rates for car finance are also different for personal car loans compared with business vehicle finance. The rate also varies across the different types of business vehicle finance: [Sole trader motor vehicle loan](/car-chattel-mortgage "Explore Vehicle Financing Options for Independent Business Owners"), Leasing and Commercial Hire Purchase. It can be a confusing situation, especially for buyers that only require car loans every few years. Applying for finance is not an activity that all buyers need to address on a regular or recurring basis. Using a broker-style lender such as Jade Car Loans allows buyers to cut through the ‘noise’ and obtain the cheapest interest offer applicable to their individual requirements and circumstances quickly and easily. We have accreditations with multiple lenders which facilitate this level of prompt and professional service. ## Rate Rise Scenario The RBA August rate rise of 0.5% will have an impact on rates that lenders will apply to [no doc car loans Australia](/no-docs-car-loans-for-business-vehicles "Discover Hassle-Free Car Loans in Australia with Zero Documentation") and other motor vehicle finance. Current car loan holders that secured their loan with a fixed interest rate should not see any change to their loan. A fixed consumer loan for a motor vehicle typically has an interest rate fixed for the entire period of the loan. This is the preferred rate type by Jade Car Loans and applies to our Secured Car Loan. However, Unsecured Personal Loans for the purchase of a motor vehicle can have a fixed or a variable rate. If you have an unsecured loan, contact your lender in regard to a possible rate rise. Pre-approved car loans are increasingly popular, especially in the recent car market conditions of limited availability. Having finance secured may place a buyer in the box seat when it comes to saying YES to the dealer when a low supply vehicle is found. While pre-approved loans can be extremely useful for a range of reasons, they are not an insurance policy against a rate rise. Pre-approved loan offers are made for a set period of time. The offer remains firm for that time but if not accepted and acted on, is then susceptible to change. If the loan offer expires and then is later required, it would be re-quoted at the interest rates current at the time. Interest rates on business vehicle finance products will also likely increase following the RBA’s August decision. However, business operators can consider a number of strategies to minimise the overall cost of their finance: - Consider the suitability of Chattel Mortgage rather than Leasing as a cheaper interest rate option. - Vary the finance term to reduce the total interest payable over the loan term. - Vary the balloon/residual to reduce monthly repayments to more cost-effective and workable levels. Both private and business buyers can look to reducing the overall cost of their finance by reducing the amount required for the loan. This may be achieved by selected a lesser priced vehicle or by paying a higher deposit to reduce the loan required. Your Jade Car Loans consultant will be guiding and assisting your through the entire finance process to ensure we secure you the cheapest and most appropriate finance deal, regardless of the current rising rate scenario. **Contact Jade Car Loans at 1300 000 003 to discuss how we can assist you with cheaper motor vehicle finance as rates are set to rise.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Which ute? Which business vehicle finance? Sales figures and updates for buyers](https://www.jadecarloans.com.au/blog/which-ute-which-business-vehicle-finance-sales-figures-and-updates-for-buyers) **Published:** October 2, 2022 **Author:** Publisher **Content:** When it comes to the ute or cab chassis market, buyers usually have a great selection of makes and models to choose from when purchasing a new vehicle. While the HiLux and Ranger have long been stand-outs in the popularity stakes, the market has expanded significantly in recent years, providing buyers with plenty to think about in regard to features, performance and budget. Along with which vehicle to purchase, buyers also have to consider which business vehicle finance lender and product will best work for their business operation. **Deciding on business vehicle finance for a new ute involves consideration of financial goals, accounting aspects, tax deductions and interest rate.** When it comes to deciding in which ute to purchase, that can come down to many factors – personal preferences, functionality, style, price and most relevant in the current market – availability. Supply issues in the new vehicle market have been impact availability over the few years and are possibly influencing many buying decisions. As a possible guide to availability, we report on the best-selling utes based on July sales figures and update on business vehicle finance products. ## Latest Sales Results The FCAI reports the VFACTS monthly sales figures for new vehicles, not including second-hand. The FCAI’s Tony Weber notes in the release of the latest figures that pandemic issues globally continue to impact the local supply of new vehicles across the market. The figures are for the numbers of vehicles for which buyers received the keys and finally drove away in the new vehicle. They don’t reflect the reported ‘bulging order books’ being held by dealers. Across the entire market the July result were somewhat flat, up only slightly compared with July last year. In the overall brand stakes covering all models, passenger and business vehicles, [Toyota](http://www.toyota.com.au "Discover the Toyota Vehicle Lineup") continues as the best-selling maker with a number of models in the top 10 selling models. Drilling down to the ute market, Toyota HiLux was the best-selling vehicle for the month across all categories with the Ford Ranger coming in second. But HiLux was quite a long way ahead in units sold. Also in the top ten models we see two other utes – the Isuzu D-MAX and the Mitsubishi Triton. Drilling down even further:- in the 4×2 category, the top 3 sellers in order were HiLux, Triton and D-Max. In the 4×4 selections the top 3 for July were HiLux, Ranger and then the D-MAX. While these are the best-sellers for this one month, the sales figures should be interpreted in context. That context being the vehicles that dealers were in a position to deliver. When it comes to budget, buyers have a number of models from GWM to add into the mix, offering value for new utes. For those that want bigger and tougher with price not an issue, check out the latest from US RAM Trucks – the TRX. According to reports the 2022 model is available on the Australian market. BUT, reports also have that it is sold out. But, RAM does have an extensive model range including 1500, 2500 and 3500 models which could be of interest. Check out the range on the [Australian website](https://www.ramtrucks.com.au/ "Explore This Australia-Based Website") and contact dealers for availability. ## Business Vehicle Finance Options While the search to purchase a new ute may involve contacting multiple dealers to check on availability, when it comes to sourcing business vehicle finance at better interest rates, the task is far easier. One call or email to Jade Car Loans and our consultants source the cheapest ute finance offer currently available from across our vast lender selection. All customers really have to do is to decide which particular business finance product will best meet their requirements. As the decisions are very much based around accounting issues, we strongly advise buyers to bring their accountant into this discussion. The selection of ute finance products include:- - [Car Financing for Sole traders](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners") - Leasing - [Affordable Car Hire Purchase](/commercial-hire-purchase "Explore Cost-Effective Vehicle Hire Purchase Options") As a general guide:- - Chattel Mortgage and Leasing are the two most popular. - Chattel Mortgage attracts a lower interest rate due to the structure of the finance. - Both include option for balloon/residual, are arranged with a fixed interest rate and over a fixed finance term. - Chattel Mortgage is best suited to utilising accelerated asset depreciation measures such as temporary full expensing. - Chattel Mortgage suits businesses using the cash accounting method while Leasing best suits businesses using the accruals method of accounting. For those purchasing a new ute as a private vehicle – they’re great for loading up all the toys including bikes, boards, etc and towing boats, the [Secured Car Loan](/secured-car-loans "Drive Your Dream Car with a Guaranteed Auto Financing Solution") will likely be the most suitable loan product. Once you’ve decided on a finance product, simply brief your Jade consultant with details of the ute you are buying, the loan term and balloon you would prefer and provide the necessary information for the application and we’ll do the rest. We’ll source the cheapest quote, and handle those time-consuming and sometimes tricky negotiations with lenders and other details right through to settlement. So ‘which ute’ and ‘which finance product’ may require some consideration, but ‘which lender’ should be the easiest decision – Jade Car Loans. **Contact Jade Car Loans 1300 000 003 for cheaper finance on a new ute purchase.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Passenger car or SUV? What is selling best and what car loans best suit?](https://www.jadecarloans.com.au/blog/passenger-car-or-suv-what-is-selling-best-and-what-car-loans-best-suit) **Published:** October 6, 2022 **Author:** Publisher **Content:** Decisions around which car to purchase are based on any number of factors from functionality, usage, personal likes and dislikes, garaging options, size and of course price. Supply shortages have also added the issue of *‘how fast can I get my new car’* to the list of buying considerations. For those tossing up between purchasing a passenger car or a SUV, there may be uncertainty around the car loans. Will the loan be more or different for different types of vehicles? We address this question specifically in regard to private vehicle buyers and personal car loans while giving an update on which passenger cars and SUVs were the best-sellers for July. ## Current Best-Sellers Sales of passenger cars have been declining in recent years as the popularity and range of SUVs continues to increase. Most manufacturers now have at least one if not multiple SUVs in their line-up to meet customer demand. In fact only one passenger car, the [Toyota Corolla](https://www.toyota.com.au/corolla/hatch "Explore the Toyota Corolla Model Range") made the top 10 best- selling vehicles in the July sales figures as released by VFACTS. Monthly new car sales figures are released by the FCAI and cover a large number of segments. Here’s a brief rundown on the top 3 sellers in some of the popular passenger and SUV segment for July:- - Micro cars: Kia Picanto, Mitsubishi Mirage, Fiat Abarth 500. - Under $25,000 light cars: MG3, Suzuki Baleno, Suzuki Swift. - Over $25,000 light cars: Mini Hatch, Audi A1, Citroen C3 - Small cars under the $40,000 price tag: Toyota’s Corolla was the best-seller, followed by the, i30 from Hyundai and Kia’s Cerato - Small cars over $40,000: Audi A3, Mercedes A Class, BMW 2 Gran Coupe - Medium cars under $60,000: Toyota Camry, Mazda 6, VW Passat - Medium cars over $60,00: Mercedes C Class, BMW 3, Mercedes CLA - Large cars under $70,000: Kia Stinger, Skoda Superb - SUV Light: Mazda CX3, Toyota Yaris Cross, Kia Stonic - SUV Small under $40,000: MG ZS, Mazda CX 30, Hyundai Kona - SUV Small over $40,000: Audi Q3, Mercedes GLA, Volvo XC40 - SUV Medium under $60,000: RAV 4, Mazda CX5, Hyundai Tucson - SUV Large under $70,000: Kluger, Prado, MU-X - SUV Larger under $100,000: Land Cruiser, Patrol While the sales are interesting to consider, keep in mind that these figures represent the cars that were delivered in that month. Many more buyers may be on wait lists. So when considering what to buy, the timing around when you will actually take delivery may become even more important than the car itself. SUVs are popular for many reasons – style, larger and more accessible luggage space and others. But keep in mind that SUV does not mean four wheel drive or off-road. Many SUVs are two wheel drive and while higher off the ground than passenger cars, may not offer better driveability and performance in challenging road conditions. Another issue to keep in mind is insurance. When purchasing a vehicle with finance, lenders require insurance to be taken out. There may be differences in the premiums for SUVs compared with passenger cars. This would need to be discussed with insurers when comparing policies. ## Passenger v SUV: Are there differences with car loans? **Whether purchasing a passenger car or SUV as a private vehicle the same car loans are available with the Secured Car Loan the most popular for new car purchases.** The finance options available for those acquiring vehicles for use in a business are different from personal car loans. The finance products are different and so are the interest rates. Interest rates on business finance are typically lower than the rates for personal loans. In order to be eligible for business vehicle finance, an ABN will be required, the vehicle must be for use in the business which means certain ATO criteria will need to be met. We’ll focus on personal car loans. The [Secured Car Loan](/secured-car-loans "Unlock Your Auto Dreams with a Collateral-Backed Vehicle Financing") is the most popular and commonly-used loan type for private vehicle buyers. The structure and features of this loan remain the same regardless of the type of vehicle – passenger car or SUV, being purchased. The aspects that may vary are the interest rate offered by lenders and potentially the loan term and amount which may be approved. The [best business car loan rates](/car-finance-interest-rates "Find the Top Rates for Business Vehicle Financing") that will be displayed by lenders for new car loans will typically apply to applicants that have a credit score in the good range. Applications for car loans are assessed by lenders based on the individual aspects of the individual’s application. Lenders must comply with the guidelines and regulations as set by ASIC when making consumer finance offers. A major part of that assessment is a review of the credit profile. This can be reviewed by individuals and actions may be taken to improve the score if it is not in the ‘good’ band. Information on how to do this is available at [Moneysmart](https://moneysmart.gov.au/managing-debt/credit-scores-and-credit-reports "Visit the Financial Insights at Moneysmart"). One aspect that can vary in regard to personal car loans, sometimes significantly, is the interest rates offered on car loans by different lenders. The interest rates will vary depending on individual lender guidelines as can be seen in our [Business car loan interest rates](/car-finance-interest-rates "Check Out Interest Rates for Corporate Auto Financing") chart. While you may have a lot of work to do to decide and source your car or SUV, when it comes to car loans buyers only need to contact us and we will handle the sourcing the best rates and deals, the negotiating and assisting with settlement. **Contact Jade Car Loans at 1300 000 003 for a quote on the cheapest car loans for both passenger cars and SUVs** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA August Rate Rise](https://www.jadecarloans.com.au/blog/rba-august-rate-rise) **Published:** October 6, 2022 **Author:** Publisher **Content:** As was highly expected, the Reserve Bank of Australia (RBA) announced yet another increase in the cash rate at its 2 August Board meeting. The August rate rise was somewhat of a foregone conclusion following the release of record employment and inflation figures by the ABS in the weeks prior. The only real unknown factor for August was how much the rate rise would be. The **RBA 0.5% August rate rise increases the rate to 1.85% up 1.75% in four months, placing pressure on car buyers to seek the lowest motor vehicle finance rates.** Even a small difference in the interest rate on a car loan can represent a significantly higher repayment and more total interest payable on the loan over the finance term. Those planning motor vehicle purchases with finance in coming months, the important issue may be not so much today’s rates but what the RBA may have in mind for further rate rises. We cover off on the RBA August decision to provide insights and the reasoning behind the decision. ## RBA August Statement The Board of the RBA meets on a monthly basis to make decisions around monetary policy and the official cash rate. At its meeting on 2 August, the Board made the decision to increase the rate by 0.5% to 1.85%. The decision is announced via a [statement](https://www.rba.gov.au/media-releases/2022/mr-22-21.html "Official Website of the RBA - Reserve Bank of Australia") The key points in the August 2022 RBA statement include:- - The Board’s priority to return the rate of inflation to the target range of 2-3% over time. - At the same time, maintaining the Australian economy ‘on an even keel’. - Governor Lowe notes there is a narrow path to achieving this balance. - Uncertainty exists in particularly as a result of global issues. - Global growth outlook has been downgraded as a result of high inflation, monetary policy tightening by many countries, invasion of Ukraine and China’s measures to contain COVID. - Australia’s inflation has reached the highest since early ‘90s at 6.1%. - Both global and domestic factors contributing to rising inflation in Australia. - Strong demand is putting pressure on prices while the tightness in the labour market and other issues are limiting supply through constrained capacity. - Flood events impacting prices of some goods especially fresh produce. - Inflation expected to peak late in 2022 to around 7.75%, fall to slightly over 4% in 2023 before approaching target range of 2-3% in 2024. - Expectations are for economy to record strong growth in 2022 but with slower pace. - Forecast for growth in GDP 3.25% in 2022 and 1.75% in 2023 and 2024. - Unemployment at 3.5% indicates tighter labour market and 50 year low rate. Further falls expected in coming months. - Uncertainty remains around household spending behaviour. Inflation and price increases are placing pressure on budgets. Consumer confidence has dropped, decline in house prices in some areas. - However, jobs are being found and additional work hours are being obtained. In summing up, RBA Governor Lowe said that the Board would be looking closely at how these factors develop in assessing the appropriate settings for monetary policy. Dr Lowe said the August rate rise was another step in the process of normalising monetary policy. It was required in order to return inflation to the target range and to create a better balance of supply and demand. Additional steps in this normalisation process can be expected in future months. However, the Board does not have a ‘pre-set path’. Data and an assessment of the inflation and employment outlook will determine the Boards decisions around the timing and the size of future rate rises. ## Market Reactions The banks and other lenders traditionally follow the RBA decisions by increasing lending rates in their individual markets. The response to the August decision appeared somewhat delayed compared with some other decisions which the major banks appearing to not want to be the first to go. As far as the outlook, economists from leading banks and other organisations have a take on how they see the scenario developing. From a few sources only, we read forecasts of the cash rate reaching 2.6% by year’s end and financial markets reportedly tipping that the cash rate will top 3.2% by first quarter next year. In more positive news for those planning to take on finance down the track, some economists are tipping rate cuts into next year as the current round of rate rises slows economic growth. ## Motor Vehicle Finance Prospects Interest rates on both [personal car loans](/personal-car-finance "Explore Financing Options for Your Individual Vehicle NeedsExplore Financing Options for Your Individual Vehicle Needs") and [vehicle business financing](/business-car-finance "Discover Financing Solutions for Your Corporate Vehicle Needs") typically rise and fall in line with RBA rate decisions. The specific amounts of any changes will depend on the individual lender guidelines and situations. Some lenders will even lift their rates in anticipation of RBA decisions. For our customers with existing fixed interest rate car loans, changes in rates will not impact your loan. Those with variable rate loans may see an increase in the rate and the repayment. Compare the [latest business car loan interest rates](/car-finance-interest-rates "Stay Updated with Current Interest Rates for Business Auto Loans"). Jade Car Loans focuses on achieving the cheapest fixed interest rates across our portfolio at all times. With more choices in lenders, we offer those seeking car finance a fast and efficient service for securing better rates and cheaper overall finance. **Contact Jade Car Loans at 1300 000 003 for cheaper car finance across personal and business vehicle finance products.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Is now a good time to invest in business vehicles with motor vehicle finance?](https://www.jadecarloans.com.au/blog/is-now-a-good-time-to-invest-in-business-vehicles-with-motor-vehicle-finance) **Published:** October 6, 2022 **Author:** Publisher **Content:** The COVID-19 pandemic, unfortunately, rolls on both globally and domestically, creating an ongoing disruption to business operations in many sectors. Inflation is soaring which has resulted in interest rate hikes by the RBA, supply chains are disrupted by global issues and many operators are struggling to meet customer demand. So when new vehicles are required with motor vehicle finance, big questions need to be answered. Businesses seeking to invest in new vehicles may wish to consider the forecast for their particular industry sector and for the economy in general terms to get an indication of business prospects over coming periods. In regard to finance, an indication of what is likely to happen with interest rates is a must for those seeking a cost-effective, cheaper interest rate solution. **To time vehicle purchases with motor vehicle finance to achieve the cheapest rate and most workable loan businesses can utilise forecasts and economic outlooks.** A range of resources are available through the RBA and the [Australian Bureau of Statistics](http://www.abs.gov.au "Visit the Official Website of Australia's Statistical Authority") while our Jade Car Loans consultants are on hand to assist businesses with the most cost-effective vehicle finance solutions. ## Interest Rate Outlook The interest rate is key to many financial decisions and with rates in general terms on the rise, this may be a key deciding factor for many businesses when it comes to purchasing new vehicles at this time. The RBA lifted rates again at its August meeting and in the accompanying statement, gave a very strong indication that further rate rises will be required in the coming months. When the [RBA](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") lifts the cash rate, lenders respond with their individual rate decisions across most lending markets. Due to the individual factors which guide lenders when setting their own rates, there can be significant variations in lender rates across the market. Having quick and easy access to many lenders through Jade Car Loans can be of great assistance to businesses in securing the cheapest rate. Different [business loan rates of interest](/car-finance-interest-rates) also apply to different business finance products – Chattel Mortgage, Leasing, Novated Lease and Commercial Hire Purchase. The decisions around which loan type will be best suited to a business does depend on a number of factors, primarily relating to accounting issues. But with say [Sole trader car financing](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners") (Chattel Mortgage) attracting a lower interest rate than Leasing, and with the potential for additional tax benefits, it may be worth investigating choice of motor vehicle finance with the business accountant in greater depth. Rates advertised will be for new vehicles, unless otherwise stated by the lender. Rates for used car finance may be higher. This may be taken into account when considering a used v new purchase with the current situation with supply of some new vehicles. ## Economic Outlook The ABS regularly releases a wide range of reports covering employment, consumer spending and other topics. The reports on consumer spending patterns may provide information for operators in different sectors. Cost of living and interest rates are seen as putting pressure on household budgets which will no doubt impact consumer behaviour. Businesses in specific sectors may be able to use this data and forecasts to shape their operations and vehicle purchasing decisions. Recent employment figures released by the ABS reveal a 50 year low in unemployment, indicating a very tight labour market. For businesses looking to expand with new staff, this may pose a problem. Many businesses have been experiencing difficulties in recruiting due to COVID issues. The RBA recently released its 4 monthly [economic outlook](https://www.rba.gov.au/publications/smp/2022/aug/ "Stay Informed About the Current Economic Prospects") which is a very detailed document covering both global and domestic factors. In regard to employment, the RBA forecasts a further drop in unemployment in 2022 before an increase in 2023. So that tightness of the labour market which is constraining capacity may continue. Inflation is a key driver at the moment and has hit a high of 6.1%. The RBA outlook includes a forecast for this to rise further to 7.75% this year before a fall in 2023 to around 4%. This may have considerations for businesses in regard to costs and will definitely shape RBA rate rise decisions over the coming months. ## Tax Benefits on Finance Timing finance to optimise tax benefits can be a very beneficial strategy. Tax deductions can effectively reduce the cost impost of the motor vehicle finance. Tax benefits vary across the range of business finance products and should be discussed with the business accountant. A very popular measure currently available is temporary full expensing. This is available for eligible asset purchases by eligible businesses through this financial year. Motor vehicles would generally be included as an eligible asset. But businesses should check the [ATO](http://www.ato.gov.au "Access Information from the Australian Taxation Office (ATO)") criteria or speak with their accountant to ensure the business and the vehicle meet the guidelines. Chattel Mortgage is seen as the most appropriate form of finance for realising the benefits of temporary full expensing. It also attracts the lowest interest rate compared with Leasing. These factors and the suitability for many businesses, does make this form of vehicle finance the most popular. With the accelerated asset depreciation measures not scheduled to continue beyond end of June 2023, making those vehicle purchases this financial year could result in significant offsets. ## Vehicle Supply Actually securing the vehicle of choice has been an issue for buyers over the past pandemic years. According to the latest statement by the FCAI, the situation is not expected to stabilise in the near future. Manufacturers are still facing challenges due to COVID and other issues, making it vital for prospective buyers to consider options like a [new business car financing](/new-car-finance "Explore Fresh Vehicle Financing Options for Your Business"). So the timing of any purchases may be dependent on the availability of the vehicle. But, price rises are being seen across many models. So delaying the purchase could result in a higher price and as such higher finance repayments. Opting for a different make or model which is currently available may result in savings on several fronts. Buyers can use our finance calculator to assist with preparing business budgets to factor in the investment in new vehicles. Alternatively, contact us and discuss the options with securing finance now or waiting for a later time. **Contact Jade Car Loans at 1300 000 003 to discuss how we can assist you with cheaper motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Fast-forward for Temporary Tax Measures with Chattel Mortgage Car Finance](https://www.jadecarloans.com.au/blog/fast-forward-for-temporary-tax-measures-with-chattel-mortgage-car-finance) **Published:** October 8, 2022 **Author:** Publisher **Content:** While it may only be relatively early in the current financial year, astute business operators planning to acquire new vehicles will have a keen eye on the end of financial year. Why? The end of June 2023 signals the end of the current temporary full expensing tax measures. Vehicles acquired to take advantage of this measure, need to be operational in a business by that date. Chattel Mortgage Car Finance is considered the most appropriate form of finance for accelerated asset depreciation measures. Still doesn’t address your query as to why now? There are a number of **reasons why businesses may benefit from fast-forwarding plans for new vehicles with Chattel Mortgage car finance to take advantage of temporary full expensing**. We provide this reasoning as well as backgrounding the current tax measures to remind business owners of what is on offer. ## Background: Temporary Tax Measures re Asset Purchases Instant Asset Write-off (IAWO) hit the headlines in April 2020 when the Treasurer at the time, Josh Frydenberg, announced it as part of a larger package of stimulus measures to support the economy in the early stages of the COVID-19 pandemic. Many picked up on the benefits on offer to businesses with banks, lenders, motor vehicle dealers and others promoting the measure to attract advise buyers. We covered IAWO in detail in numerous articles over that time. For a number of reasons including the first, very tight timeframe, the measure was adjusted and expanded in scope and in timing and by November 2020 it was known as temporary full expensing. Not as catchy a name possibly with its more technical nature, but still the same accelerated asset depreciation measure. The [ATO regulates](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "The Australian Taxation Office (ATO) Oversight and Regulations") temporary full expensing and those interested can refer to the criteria at the ATO website. The measure allows for the entire price of new cars and other work vehicles that meet the criteria, to be written off on the books through depreciation in the year the assets were bought. This contrasts extremely favourably with the usual depreciation schedule where only a small proportion of the value can be written off each year over multiple years. As per the November 2021 Federal Budget, temporary full expensing is in effect until June 30, 2023. ## Why Fast-forward Could be Advisable So businesses have around 9 months to get those cars purchased in order to take advantage of this current tax measure. So why act now? Why not wait until say April or May next year and purchase the vehicles then? One of the most compelling reasons is the current disruption to the supply chain which has seriously impacted the new motor vehicle market. There are long delivery times for many makes and models including some of the most popular work vehicles and utes. Tony Weber of the [FCAI](http://www.fcai.com.au "Explore Insights from the Federal Chamber of Automotive Industries (FCAI)") recently noted in a statement that supply may not stabilise until mid-2023. Buyers that decide to wait to place an order or make a purchase may discover that when that time comes, they cannot source the vehicle of choice. New vehicle prices are on the rise which should also be considered. Delaying a purchase may mean paying a lot more than for current stock. Another incentive could be in regard to scheduling. The festive and holiday period from October through to February can mean busier times for many businesses. With consumers hitting the ‘buy button’ after extended lockdowns, demand is strong for many goods. Consumers are also out and about which means busier times for operators. Busy times ahead to deal with while many are trying to cope with labour shortages. Issues which will put more time pressures on owners. Matters such as buying new vehicles are likely to take a backseat under such circumstances. Those facing a quieter time during this period may have holiday plans of their own, with business matters deferred to the new year. And then there is the matter of interest rate rises. The [RBA](http://www.rba.gov.au "Access Information from the Reserve Bank of Australia (RBA)") has already said that more rises would be required. Securing finance while rates are at current levels may represent a savings on the interest total and of course the monthly payment commitment. ## Chattel Mortgage Car Finance [Sole traders for car finances](/car-chattel-mortgage "Customized Vehicle Financing Solutions for Independent Business Owners") is suited to accelerated asset depreciation measures as this form of finance allows for the assets, in this case motor vehicles, to be depreciated. This is possible as the business takes the ownership of the motor vehicles at the time the finance is settled. The vehicles are entered into the business accounts and become depreciable assets. To illustrate a difference, with a [business car leasing](/car-lease "Discover Corporate Auto Leasing Solutions") the lender holds the ownership. The business makes the lease payments which are the major tax deduction. By depreciating the full amount of the car price in the same year the vehicle was purchased, the business reduces its taxable income for that financial year. The result being less tax is payable. There is also the option to implement [Loss Carry Back offset](https://www.ato.gov.au/business/loss-carry-back-tax-offset/ "Learn More About the Loss Carry Back Offset Scheme") where applicable. Speak with your accountant as to whether these accounting issues will be applicable and suitable to your business set-up. If these fast-forward prompts have motivated you to act, we can assist by saving you time with sourcing the cheapest Chattel Mortgage finance so you can concentrate on running the business and still take advantage of what is on offer. **Contact Jade Car Loans at 1300 000 003 for cheaper Chattel Mortgage car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EV Discounts, Luxury Car Tax Cuts Discussion – relevance for car loans](https://www.jadecarloans.com.au/blog/ev-discounts-luxury-car-tax-cuts-discussion-relevance-for-car-loans) **Published:** October 8, 2022 **Author:** Publisher **Content:** There are a number of ‘discussions’ in Federal Parliament at the moment around motor vehicles. Discussions which may have relevance for those considering buying an electric vehicle (EV) or luxury car. As there is a number of concurrent discussion and bills, the reports and commentary may be confusing for many in the general public. We do not purport to being in a position to provide full, in-depth coverage on these issues. We can however, provide **an overview of current discussions and bills before Parliament re discounts for EVs and the luxury car tax with comments on the relevance for car loans**. ## EV Discount Bills & National Electric Car Strategy On July 27, Treasurer Jim Chalmers in conjunction with the Minister for Climate Change and Energy, Chris Bowen, introduced to [Federal Parliament a Bill to amend Treasury Laws](https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/electric-car-discount-bill-introduced-parliament) in regard to electric car discounts. The Bill outlines the legislation to amend the FBT act and make eligible electric cars which are use is made available to the employees by their employer exempt from the tax. The Treasurer said it was the plan of the Government to make EVs cheaper and as such more affordable for families. The exemption would be applicable to hydrogen fuel cell EVs, battery-electric models and plug-in hybrids. Eligible cars would include those with a retail price which falls below the LCT (luxury car tax) threshold on fuel efficient cars. The threshold for the 2022/23 financial year is currently $84,916 for vehicles in use after 1 July 2022. The statement provided an example of this amendment on a $50,000 car, provided to the employee by the employer which would represent a saving to the business of up to $9,000 pa on FBT. On salary sacrificing arrangements a savings of up to $4700 pa could be realised by individuals. Price has been identified as a major barrier to the uptake of EVs. This FBT exemption is a part of the Electric Car Discount measures by the Government which are aimed at cutting the acquisition costs of EV ownership. In addition to presenting the FBT exemption bill, the Treasurer and Climate Change Minister also introduced the National Electric Vehicle Strategy and changes which would remove the 5% import tariff on eligible EVs. At the core of this national strategy is introducing standards for fuel efficient and applying a tailpipe CO2 reduction scheme. This is seen as need to create a greater supply of EVs on the Australian market. These bills go before the parliament for discussion and with the current make-up of both the upper and lower houses, the Government is facing some push-back. The Greens Party and David Pocock, independent Senator, have concerns around hybrids being included. As hybrids use petrol combustion engines as well as electric, the measure is seen as subsidy for fossil fuels. The Opposition is reported being against the Bill due to the huge cost to taxpayers. Those interested may wish to follow discussion of this Bill in Federal Parliament. ## Luxury Car Tax The Luxury Car Tax (LCT) is a tax on the GST inclusive price of vehicles above a certain threshold. The threshold changes annually. According to the Australian Tax Office ([ATO](https://www.ato.gov.au/business/luxury-car-tax/ "Visit the Australian Taxation Office (ATO) Website")) the current rate is 33%. Buyers don’t have this added on to the advertised purchase price. LCT is imposed on importers and will already have been included in the price tag. Fuel-efficient vehicles and zero emission models have a higher threshold than others and as such buyers get a saving. For vehicles purchased from the start of this financial year, 1 July, the threshold for LCT is $71,849 and $84,916 in the fuel-efficient category. So if you’re planning to purchase a luxury vehicle, selecting a fuel efficient model which comes into this category could represent a saving. There has long been criticism of LCT from many circles and currently there is discussion around how dropping this tax could benefit the agricultural sector by opening up European markets to Australian producers. It will be interesting to follow the progression of these discussions through the Parliamentary process. ## Car Loans and Purchase Considerations While discussion on the legislation around reducing the cost of EVs has been in the news lately, the appropriate process needs to take place before they are enacted. This takes time and then there is the timeframe for implementation. Then there is the matter of the application to timing of vehicles coming into the Australian market. Taking all that in consideration, there could be a lag time before any changes to taxes and tariffs of EVs and luxury vehicles is reflected in the pricing. Timing that should be considered by potential buyers in regard to the purchase and to the finance. Here are a few points to consider:- - Prices of new vehicles have seen rises recently as a result of increases in inflation and componentry. The price increase faced by delaying the purchase with the hope of a tax reduction may need to taken in context. - Any discount on the vehicle price will of course reduce the total car loan amount and as such reduce the monthly car repayment. To see how repayments may vary with different priced vehicles, refer to our [commercial car finance calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online"). - Supply and availability is a key consideration. The supply situation is not expected to stabilise for some time. So acting now and securing current stock could ensure a purchase as well as side-step additional price rises. - If FBT is made exempt on some EVs, that could represent a significant tax savings for some businesses and for some individuals. However, delaying purchases until these new laws come into effect may mean missing out on savings which may be realised on current financial year tax measures such as temporary full expensing with [car loans for sole traders](/car-chattel-mortgage "Sole Trader Car Financing: Empowering Your Business Mobility"). - Some lenders are offering finance deals for the purchase of fuel-efficient vehicles. As we are accredited with multiple lenders, we have the capability to bring the cheapest offers to our customers. The interest in EVs is on the ‘up’ as shown in August sales figures and with our cheaper car loans a purchase of an EV may be an extremely affordable option while contributing to reducing emissions. **Contact Jade Car Loans at 1300 000 003 for affordable finance on EVs and luxury vehicles** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA October Interest Rate Rise](https://www.jadecarloans.com.au/blog/rba-october-interest-rate-rise) **Published:** October 12, 2022 **Author:** Publisher **Content:** In a move that was only surprising in the amount, the Board of the Reserve Bank of Australia ([RBA](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia")) announced another interest rate rise in the cash rate at its 4 October meeting. Prior to the meeting, pressure had been growing on the RBA to temper its approach to rate rises after significant rises each month since May. The grounds for such pressure is the growing risk of a global-based recession. Treasurer Jim Chalmers said this week that the possibility of this had moved from the possible to the probable. The smaller than anticipated increase for October of 0.25% is a slowing in rate rises from the previous 4 months of 0.5% but the RBA has signalled further increases are ahead. ## RBA Board Statement The RBA Governor Philip Lowe released the monthly statement following the Board meeting on 4 October to advise of the decision, the reasoning and outlook. The decision was to lift the cash rate by 0.25% taking it to 2.6%. The statement leads in with repeating the Board’s commitment to returning the rate of inflation to the target range of 2-3% over time. The early part of the statement also gives an indication of what may be in store with the Governor saying that further rises will likely be needed in the period ahead. Dr Lowe acknowledges that the official cash rate has been raised ‘substantially’ in a short timeframe. The Board reflected on this in deciding on the 0.25% increase for October and is assessing the outlook for Australia in regard to economic growth and inflation. Key points in the statement:- - The inflation rate is too high in Australia. - The high rate of inflation is explained to a great extent by global factors but the strong level of demand in Australia compared with supply is also contributing. - In coming months, the expectation is for inflation to increase further before it declines towards target range of 2-3%. - Inflation expected to moderate in 2023 as the global supply issues continue to resolve and increases in interest rates take effect. - The RBA’s forecast is 7.75% for the CPI inflation rate during 2022, just over 4% in 2023 and approaching target at 3% in 2024. - Terms of trade at record level boosting national income. - Domestic economy growing solidly. - Unemployment for August 3.5%, indicating ongoing tightness in the labour market. - High numbers of employment ads and positions suggest unemployment will fall further in coming months before increasing with a slowdown in growth of the economy. - Board is paying particular attention to the costs of labour and how firms set prices. Noting that price stability is essential to a strong economy. Governor Lowe also repeated the priority of the Board of returning inflation to target 2-3% and doing so while retaining an even keel for the economy. Noting once again the narrow path to achieve the balance and the uncertainty existing. Uncertainty is noted around the global economy which has shown deterioration in recent times. An additional source of uncertainty remains how consumer spending domestically responds to higher rates as the higher rates plus high inflation are pressuring budgets. In summing up, Governor Lowe said that the October rate rise will assist in achieving a more sustainable demand-supply balance and was needed to reduce inflation. The key to what may lie ahead is contained in the wording that the RBA Board expected to raise rates further during the time ahead. ## Significance for Motor Vehicle Finance Rates The October RBA rate rise has resulted in the official cash rate increasing from 0.1% at the end of April to the current level of 2.6%. The flow-on effect of these decisions is for lenders to increase their own rates in the markets in which they operate. Following the 4 October decision, several of our [key lenders](/why-jade-car-loans "Explore the Primary Financial Institutions") – the four big banks in Australia plus Macquarie Bank, all raised their variable rates. The effect is also felt through the motor vehicle lending market. The extent to which individual lenders will increase their own rates in response to RBA decisions are based on their own guidelines and policies. **The potential impact on car loan rates of the RBA October interest rate rise highlights the importance of seeking cheaper car loans through Jade Car Loans.** With more lender choices to offer customers, we continue to source cheaper interest rates on both [personal car loans](/car-finance-interest-rates "Explore Financing Options for Your Individual Vehicle Needs") and [business motor vehicle finance](/business-car-finance "commercial car loan"). With major banks still expecting the cash rate to reach 3% this year and the Board indicating further rises would be expected, it may be assume that further rises are a done deal. The next meeting of the RBA Board re rates is set for Tuesday 1 November – the annual Melbourne Cup Day rate decision. **Contact Jade Car Loans 1300 000 003 for cheaper car loans as interest rates continue to rise.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [What will happen to my car loan with RBA rate rise?](https://www.jadecarloans.com.au/blog/what-will-happen-to-my-car-loan-with-rba-rate-rise) **Published:** October 12, 2022 **Author:** Publisher **Content:** The RBA Board met on Tuesday 4 October to make its monthly decision on the official cash rate with another rate rise highly anticipated. Many in the economic and finance sector were expecting a rate rise of another 0.5%. But there has been building pressure and commentary for the central bank to slow down the pace of rises for the fear of the country going into recession. Many with existing motor vehicle finance and those intending to apply for a car loan will no doubt be wondering where this decision leaves them. While the official cash rate as determined by the RBA is not the interest rate that applies directly to car loans, it does have an impact on the motor vehicle finance sector. **The effect on new and existing car loans from RBA rate rises will depend on a range of factors but buyers can still find a cheaper car loan with Jade Car Loans**. We’ll work through the factors and scenarios to illustrate how a car loan may or may not be impacted by decisions on interest rate rises made by the [RBA Board](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia"). ## Existing Motor Vehicle Finance Whether or not an existing car loan would be affected by a change in interest rates will typically hinge on the type of interest rate on the loan – a variable rate or a fixed interest rate. With a fixed interest rate car loan the rate and therefore the repayments should remain constant and unchanged for the loan term, regardless of fluctuations with the official cash rate. Variable interest rates, as the name indicates, can be changed as a result of changes in interest rates by the lender. We arrange our [Secured Car Loans](/ "Drive Your Dreams with Collateral-Backed Auto Financing") and [commercial car finance](/business-car-finance "Discover Financing Solutions for Corporate Vehicles") products with a fixed interest rate. The rate secured at the time the finance was arranged is locked-in for the full finance term. However, some others lenders may arrange loans at a variable interest rate. Unsecured Personal Loans, such as we offer for vehicles not suitable as loan security, can have a variable interest rate. Those with a variable interest rate car loan should contact their lender for information as to their individual circumstances. ## New Car Loans Applications for new motor vehicle finance are arranged at the cheapest interest rate that we can source at that time. Quotes that have already been received and accepted should remain unchanged. Applications currently awaiting a quote will be quoted at the cheapest rate achievable. Pre-approved car loans with a fixed interest rate will need to be actioned before they expire to ensure the quote remains valid. For those intending to apply for motor vehicle finance through Jade Car Loans, can be assured that our consultants will, as always, be working hard to secure the cheapest rate achievable. How quickly a lender will respond to a RBA rate rise and increase their car loan rates will vary across the market. There are times when lenders actually increase rates in advance of RBA rate decisions. This may occur as that lender strongly believes rates will be increased by the RBA in coming months. To get an indication of what may happen to interest rates over coming months, review what has happened and what has been stated over the past few months. At the October meeting, the RBA Board opted for a 0.25% rate rise, less than the 0.5% of the past 4 months. This means a 2.5% increase in the cash rate since May. Several of the major banks are still reportedly expecting the official cash rate to climb from today’s 2.6% to 3% this year. In the October statement, the RBA stated that it expected that more increases would be needed to address inflation in the coming period. Those are fairly strong indications that higher rates are on the horizon. Wherever possible, buyers should expedite purchase plans to secure motor vehicle finance prior to another rate rise. The RBA Board next meets on 1 November. When using our [business vehicle finance calculator](/car-finance-calculator "Calculate Your Commercial Vehicle Financing Online") to derive repayment estimates for an upcoming purchases, users would be wise to allow leeway for any rate rises prior to lodging their loan application. New loan applicants should also be aware that the lowest car loan rates that are displayed by motor vehicle finance lenders, unless otherwise indicated, will be for new vehicles and for applicants that have a credit score in the good rating band. Buyers can work to repair their [credit score](http://www.moneysmart.gov.au) to ensure the best loan offer is received. With variations across the market, those seeking new motor vehicle can benefit from using our services. We save buyers time by bringing the cheapest loan offer from across a vast section of lenders and use our expertise and bargaining power to achieve the best interest rates. **Contact Jade Car Loans at 1300 000 003 for cheaper interest rate car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Study Scholarship Opportunity Now Open](https://www.jadecarloans.com.au/blog/study-scholarship-opportunity-now-open) **Published:** October 13, 2022 **Author:** Publisher **Content:** Do you know a tertiary student that could benefit from a study scholarship? As course and training fees in many fields of study have increased and as inflationary pressures in recent times have impacted many individuals, students may be facing challenges with their expenses. **Jade Car Loans as is proud to be involved with the Jade Finance study scholarship opportunity to support tertiary students with the costs of their studies.** This tertiary study scholarship is offered in the form of a $5,000 award which will be granted to the student with the winning written response around the theme of finance and lending. To apply, students are asked to present a 800 word response on a topic or angle of their choosing. The current economic, social, environmental and technical situation presents many ideas for improving the way the finance sector, regulators, governments and other stakeholders operate. The role of [RBA](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") is under review as are laws around consumer finance and government policies are always scrutinised through parliamentary committees. Actions which are sure to spark opinions and theories from the student community about how the area of lending sector can be improved. The ideas and topics for the submission may come from many areas including the motor vehicle sector. If you know a tertiary student that has been very vocal on what is or has been happening in the Australian economy, advise them of this opportunity to put their ideas in writing in an application. The focus of Jade Car Loans is [car loans for business](/business-car-finance "Discover Vehicle Financing Solutions for you Company") but students across the tertiary studies spectrum are welcome to apply for the study scholarship. ## Details of Study Scholarship The specific eligibility criteria and the terms of the scholarship can be read at Jade Finance Australia of which Jade Car Loans is a business arm. As a brief overview – applications are invited from any student, part or full time, who has completed one year of study and is enrolled in training or course at a recognised higher education provider or at a tertiary institution in Australia. Providers may include universities, TAFE, colleges and others. The main part of the application is the 800 word submission on the theme of lending and finance, which is our business focus. But applicants can be studying in any tertiary field. Within that general theme, applicants have the latitude to select their own topic which may be associated with their field of study or general interest. Applications with the original written response will be assessed by the judging panel. The application deemed the most outstanding will receive the $5000 study scholarship. The funds are to go towards the study expenses. ## Inspiration for Written Response The written response must be the original work of the applicant and can cover their choice of topic within the theme of finance and lending. To provide inspiration, our team has come up with some suggestions to start those thought processes. The motor vehicle finance sector is one of the largest in Australia with many lenders and many customers wanting car loans. Cars and business vehicles are still the major form of transport in Australia and that many new car buyers will require finance to make their purchase. As such a large area of finance, there are many aspects which may be explored in the submission. Law students may have ideas around finance and lending laws. Technology and IT students may address that aspect of how finance is offered and secured and how new tech can better be utilised. Humanities students may focus on social issues and how the lending sector can better address finance needs. A major topic of interest in the motor vehicle sector is reduction of carbon emissions. Cars are one of the biggest global emitters and manufacturers have been working hard to produce vehicles with less emissions. Governments and others have been pushing hard to encourage the take-up of electric vehicles. Amid the push for policies and direction on climate change, applicants might like to explore the role of motor vehicle finance lenders in promoting climate change and supporting buyers that choose low-emitting and alternative fuel vehicles. That is just the tip of the iceberg of what students can address in their submission and we look forward to being impressed with the ideas that emerge in the applications. ## Scholarship Application Timeframe Applications, including the written response, must be received by 18th July, 2023. The judging process will then be finalised before the winning application is decided by 31st July 2023. Applicants should be across the criteria and conditions as set out in the formal application form. The details at Jade Finance also include information on how to submit applications. At the core of our business approach is to save our customers on [business car loan interest rates](/car-finance-interest-rates "Explore Interest Rates for Corporate Auto Financing"). So we see this opportunity as a natural progression to expand that support to the student community through a study scholarship. If you have a family member, sibling, friend or acquaintance that would be interested and eligible for this study scholarship, we invite to share the details. **Jade Car Loans 1300 000 003 – supporting car buyers with cheaper interest rates and tertiary students with scholarship opportunities.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [September Best Selling Cars. Inspired to buy? Apply for finance](https://www.jadecarloans.com.au/blog/september-best-selling-cars-inspired-to-buy-apply-for-finance) **Published:** October 16, 2022 **Author:** Publisher **Content:** The figures have been released for the best selling cars for the month of September with EVs again recording strong figures. Sales for the month were 12.3% up on the same month last year. But it should be remembered that several states were in lockdown in September last year. After an extended period of severe supply issues, the Federal Chamber of Automotive Industries (FCAI) said supply was showing some signs of improving but cautioned that the pandemic-related issues were still problematic. Pushing pessimism aside, checking out the best selling vehicles can be of interest to enthusiasts and particularly noteworthy for buyers. While supply remains an issue, the sales figures may provide a guide as to which makes have stock available for sale. Where the favourite model is not available right now, these monthly reports may provide inspiration for alternatives that other buyers have decided are the one. There are a number of reasons why now may be a good time to seriously move on that new vehicle purchase with finance. The RBA indicated that further interest rate increases would be expected. That could mean an increase in motor vehicle finance rates down the line. It’s also approaching holiday season and road trip time. Heading off for that annual break in a brand new vehicle could enhance the holiday. We report on September’s best-sellers with a note on sale trends from the FCAI plus an update on motor vehicle finance. ## FCAI Report Headlining the [FCAI’s September release](https://www.fcai.com.au/news/index/view/news/779) of the figures is the strong sales of EVs for the month. Tony Weber, the CEO of the FCAI said the EV sales result for September was a signal of the increasing numbers of Australians demonstrating a commitment to the decarbonisation of their choice in transport. Over 7,000 battery EVs were sold in September which is significantly more than the 5,000 total of hybrids and plug-in hybrids sold. Although the individual figures are impressive, battery EVs still only represents 2.7% of the market. State sales figures show quite large discrepancies. 67.7% increase in the ACT but only 2.9% in Queensland but nearly 21% in NSW and similar for Victoria. But declines were posted for South Australia, Tasmania, NT and Western Australia. ## Trends As has been seen over some time, the passenger car market was down again compared with September 2021 and the SUV and light commercial markets were up. The increase in battery EVs is seen as a trend towards the zero emission technology. The FCAI notes that the trend to EVs comes around the time that the Federal Government called for submissions on its [discussion paper on EVs](https://consult.industry.gov.au/national-electric-vehicle-strategy). Mr Weber said that manufacturers were encouraged by the paper as the path to decarbonisation of light transport in Australia required a holistic framework. He said policies and regulations needed to be in the context of price, availability, supply of batteries as well as infrastructure for charging and incentives for buyers. A key trend to watch will be the upcoming release of an EV ute from LDV. ## September’s Best Selling Makes and Models No massive surprise in the market leader for September with [Toyota](http://www.toyota.com.au) once again topping the charts. Kia was second followed by Mazda and Mitsubishi. Indicative of the performance in the EV market, Tesla came in 7th best selling make behind Ford and Hyundai. VW, MG and Subaru rounded out the top 10 makers for the month. The top brands on a sales for the year to date (YTD) basis is slightly different. Toyota leads Mazda and Mitsubishi then comes Kia and Hyundai. The bottom five are Ford, MG, Isuzu, Subaru and VW. The top 10 vehicle models for September sees the Tesla Model Y slip into an impressive 3rd spot behind front-runner HiLux and Ranger. Mazda’s CX5 was fourth, just pipping Mitsubishi’s Triton. Position 5-10 were taken by D-Max, Outlander, RAV4, Kia Sportage and the Hyundai i30. ## Motor Vehicle Finance Update **The affordability of best selling cars can hinge on the cost of the motor vehicle finance and especially sourcing cheaper interest rates through Jade Car Loans.** he RBA has now raised rates for the last 6 months and has said that more rises would be expected. In this upward rate cycle, buyers will be looking for the cheapest interest rate car loans. Our rates across our business vehicle finance and [personal car loans](/car-finance-interest-rates) remain better and cheaper so we can continue to provide affordable finance for customers. Buyers are encouraged to get moving with vehicle purchases where possible before another RBA cash rate increase which could come in the next few months. Business buyers can look to realising greater benefits and savings by considering [car financing for sole traders](/car-chattel-mortgage "Tailored Vehicle Financing Options for Independent Business Owners") and temporary full expensing. This accelerated asset depreciation tax measure expires at the end of this financial year. With vehicle supplies still problematic in some markets, waiting until next year for the preferred model may mean missing out on this very generous tax deduction. **Contact Jade Car Loans at 1300 000 003 for cheaper car loans on best-selling motor vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Holden Triumphs in Last Supercars Bathurst 1000 Race](https://www.jadecarloans.com.au/blog/holden-triumphs-in-last-supercars-bathurst-1000-race) **Published:** October 16, 2022 **Author:** Publisher **Content:** The final appearance of the General at the iconic [Supercars Bathurst 1000](https://www.supercars.com/repco-bathurst-1000/ "Explore the Excitement of the Bathurst 1000 Supercars Race") was filled with emotion, memories and excitement. While the weather made a valiant attempt to wash out the entire event, Holden was not to be denied it’s final chequered flag on this famous moto racing circuit. The circuit which had seen legendary drivers battle it out against all-comers and maintain an amazing rivalry with the blue oval, Ford, over decades. The 2022 event was the final occasion that the Holden brand would compete in Supercars at the famous Mount Panorama track. Supercars are moving to a new race car set-up in 2023 which meant the Holden Commodore bows out. The race was one for the ages as many of the commentators noted. The weather, as it often does on Mount Panorama, played a critical part. The Top 10 shootout was cancelled on the Saturday and even as early as the Sunday morning, there was possibly some doubt that the race itself would proceed. But it did and the first corner delivered the first incident and heartbreak for some drivers. The safety car would make eight appearances throughout the gruelling hours. But the weather improved and the final sessions were raced under clear conditions. With the safety car brought out in the final few laps, spectators were treated to an amazing final session of hot laps and some of the closest nose to tail, heart-stopping motor racing. The result for Holden was historic and memorable, with the top two spots on the podium taken by the Commodore. Shane Van Gisbergen and Garth Tander took out first place for Red Bull Racing, Chaz Mostert and Fabian Coulthard in second and Cam Waters and James Moffatt spoiling a 1,2,3 for Holden by finishing third in their Ford. The win for Holden extended their lead over Ford in overall wins and gave Van Gisbergen the Supercars Drivers Championship for 2022. Holden Commodores filled 7 of the top 10 positions with Ford only managing 3. The Holden Commodore still has a few more appearances in the top Supercars motor racing category before bowing out. The Supercars next head to the Gold Coast for races on 28-30 October before completing the 2022 calendar in Adelaide at the start of December. ## Red Bull Dual Triumph While Van Gisbergen and Tander were chalking up another Supercars win for Red Bull in Australia, the racing team was also taking out another prestigious motor racing trophy in Japan. Max Verstappen won the [Japanese F1 GP](https://www.formula1.com/ "Learn More About the Formula 1 Japanese Grand Prix") for Red Bull Racing which also gave him another Drivers Championship, despite being another 4 races in the season. A dual triumph duplicated on the same weekend – two iconic race wins and two drivers championships for this amazing motor racing team. Coincidentally, the Japan GP was also impacted by rain. ## Inspired to Buy a New Car? Watching motor racing events either at the track or on the screen, can have car owners aspiring to a better, new vehicle of their own. Possibly not an actual race car, but at least an upgrade from their current drive. While the Bathurst-winning Holden Commodore is no longer available on the new car market, buyers may find inspiration from the best-selling monthly car figures. These are released by the FCAI each month and can provide an indication of what other buyers have already decided is a good make or model to purchase. But current figures should be considered in the context of the supply issues which continue to prevail in the new motor vehicle market. Notable trends in the September sales results are the overall improving figures which may indicate easing in supply, the increase in EV sales especially from Tesla and Toyota once again topping the best-seller maker and model lists. Battery EVs have shown an impressive rise in sales and are outdoing plug-ins and hybrids by a considerable margin. This may be due to the releases in August and September of new Tesla models. Prior to recent months, Tesla figures were not available for these monthly reports. It may be worth noting that the type of new car – passenger, SUV, EV or traditional power, does not effect the finance as such. But price is recognised as a major obstacle to the take-up of EVs in Australia. **If the Supercars Bathurst 1000 inspires the purchase a new motor vehicle, buyers can prepare by securing pre-approved motor vehicle loans through Jade Car Loans.** A pre-approved loan is arranged before the actual vehicle is purchased, or in some cases, even decided upon. It is a very handy way to go as it provides a firm indication of how much a buyer is approved to borrow, a confirmed quote on loan repayments and can be used to select the car to suit the finance. Pre-approved car loans are provided across our [business car loan](/business-car-finance "Discover Financing Solutions for Commercial Vehicles") for both private and business buyers. The [business car finance rates](/car-finance-interest-rates "Explore Corporate Auto Loan Interest Rates") offered for a pre-approved car loan would be the same as for finance which is applied for following the vehicle selection and ‘purchase’. We have maintained our cheap interest rates policy amidst the current cash rate rise. The RBA has indicated more rises are in store. So buyers that are ‘feeling it’ in regard to a new car buy, would be strongly advised to get off the couch, away from the Supercars telecast and get moving on that purchase. **Contact Jade Car Loans at 1300 000 003 for pre-approved motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Low Doc Car Loans for New and Small Business Operators](https://www.jadecarloans.com.au/blog/low-doc-car-loans-for-new-and-small-business-operators) **Published:** October 30, 2022 **Author:** Publisher **Content:** Soaring inflation is hitting many individuals, households and businesses hard. With the costs of living and the costs of operating a business rising, affording items when required such as vehicles, can be a major challenge. Small businesses and new enterprises can be especially impacted due to the issues some face in sourcing finance. There is a solution. **Jade Car Loans offers Low Doc Car Loans to enable new and small businesses access to affordable finance to purchase the necessary business vehicles.** While purchasing new cars and other vehicles may for some buyers be a luxury or a want, for many business operators the purchase is a necessity. It may be key to the entire operation such as for deliveries, pick-ups or as essential transportation for meetings with customers and suppliers. As a key business asset, the vehicles need to be acquired with affordable finance that works with cash flow. In order to achieve that objective, business owners first need to meet the guidelines to apply for finance. This is the point where many may not get passed the first hurdle. Many lenders have criteria for business loans which include a minimum timeframe that the business must have been operating. This can be 12 months or even 2 years. For new and newish operators, they simply cannot tick that box. Other criteria typically include having a comprehensive range of financial documentation and records of the business trading history and financial position. Again, another box that many that have only been in business for a short time cannot tick. Placing the option of purchase cars for the operation potentially out of reach. The solution in these instances may be Low Doc Car Loans. A specialist type of finance which is not available through all lenders, but is offered through our expert broker-style lender services. ## Low Doc Car Loans: Overview As the finance title implies, [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles") are a form of business finance for businesses that do not have the complete set of documentation that is required to apply for car loans through many lenders. We source finance for these applicants through a selection of our non-bank lenders that do not have the strict application criteria as some other lenders. The basic criteria for eligibility for this type of finance application is to hold a current ABN and to have identification. Where a business can provide forms of financial documentation that can enhance the application and prospects for a better car loan offer. No Doc Car Loans are included in this category of finance application. The difference is essentially in the quantity of docs that are presented. The type of documentation may include:- bank statements; BAS returns; income tax returns if trading has commenced and covered a financial year; profit and loss statements; and similar reports. Where a business is total start-up it would be unlikely to have very few or any of these docs. A business plan may be presented to support the application. Documents do not necessarily need to be prepared by a finance professional such as an accountant. Business owners may prepare basic spreadsheets and reports with bank account records to validate the information. Where a business is very small and/or new, it is typical for the financial records of the owner or director to be requested in a Low Doc Car Loan application. The owner may also be asked to provide a personal guarantee or other form of security for the car loan. ## Who is eligible? All types of business structures are welcome to enquire about a Low Doc Car Loan. This includes sole traders, ABN-only holders, family enterprises, partnerships and pty ltd companies. Being registered for GST is not an essential requirement but can be viewed as favorable. Reminder, businesses with turnover exceeding $75,000 pa must apply for GST. If you are unsure as to the eligibility for your business, give us a quick call and discuss the situation with one of our consultants. ## What types of loans are available? The Low Doc description actually refers to the business applying for the car loan rather than a specific finance product. Where a business is approved as a low doc application, the business may have the choice of which [motor vehicle finance product](/overview-of-business-car-finance "Explore Our Range of Automotive Financing Solutions") that they prefer. In some instances, lenders may have preferences as to which they will approve. Business owners are strongly advised to consult with their accountant on which particular finance facility will best suit their objectives. The features and suitability to different businesses do vary across the range. The interest rates also vary across the loan products. The rates offered also vary for individual applicants. While many may think that Low Doc and small businesses in general will always be offered high interest rates, that is not necessarily the case. We achieve affordable and cheaper interest rates on Low Docs Car Loans for many of our customers. The strength of the application and the [credit profile](http://www.moneysmart.gov.au "Learn About Your Financial History and Creditworthiness") of the business and possibly the individual business owner will be assessed and contribute to the interest rate we can negotiate. ## What tax deductions are allowed? All forms of business finance, including Low Doc Car Loans, have tax deductible elements. When approved for this category of finance application, a business can realize the relevant tax deductions applicable to the finance product selected. For those that acquire new vehicles before 30 June 2023 with a [sole trader car loan](/car-chattel-mortgage "Customised Vehicle Financing Solutions for Independent Business Owners") and meet the ATO criteria, may realize the significant deductions under [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Read About the Temporary Full Expensing Program"). ## Enquire Now With the RBA indicating that more rate rises are ahead, moving as quickly as possible on new car purchases with finance is strongly advised. We welcome confidential and no-obligation enquiries to discuss how a Low Doc Car Loan may suit your business. **Contact Jade Car Loans at 1300 000 003 for Low Doc Car Loans** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Preparing for road trip holiday season: Which car? Which car loan?](https://www.jadecarloans.com.au/blog/preparing-for-road-trip-holiday-season-which-car-which-car-loan) **Published:** October 30, 2022 **Author:** Publisher **Content:** The Christmas summer holiday season is fast-approaching and it’s time for many to start making concrete plans for where to go and how to get there. While many will be making overseas trips, holidaying in Oz is a great idea. Road trips to discover more of this great country can be a great way to holiday for individuals, couples and families. What you’ll need is a car suitable for the trip and for many buyers, a car loan to purchase a new vehicle. To ensure the car loan doesn’t impact the holiday budget, buyers will want to be seeking an affordable car loan that works with their budget. **With the RBA indicating further rate rises, sourcing the cheapest interest rate car loan is key for many buyers and can be sourced through Jade Car Loans.** To assist road trip holiday makers prepare for the upcoming season, we provide car buying inspiration with the latest top selling models and car loan information with our better interest rate vehicle finance options. ## Which car? Latest Top Selling SUVs The type of car required for a road trip will depend on the type of terrain planned to cover, what luggage needs to be taken, how many people are along for the ride and what extras need to be towed. We’ve drawn on the September top selling car figures for your inspiration. Supply issues are still prevalent in some markets, so having second and third preferences can be a good idea. If planning to stick to the black top and cruise the coast or rural areas, a sedan or possibly a roadster or convertible may be a great choice. The top three models in the Sports category over $80,000 were the [BMW 4 Series](https://www.bmw.com/en-au/home.html "Explore the BMW 4 Series Range"), Mercedes Class convertible and the Mercedes E-Class. SUVs have surged in popularity in recent years and are the versatile choice for holidays and recreation as well as daily drive commitments. They have the luggage space to accommodate a range of requirements and depending on the size, are suited tow a boat, caravan or trailer with dirt bikes. When buying an SUV, be mindful that not all Sports Utility Vehicles are four wheel drive or suited to off-road driving. If you’re planning to head off-road to explore tracks and trails, ensure you select a vehicle that is suited. In the light and small SUV categories, the top selling models for September included the Mazda CX3, Kia Stonic, Mitsubishi ASX, Volvo XC40 and Audi Q3. Stepping up to the medium SUVs and top sellers included the CX5 from Mazda, Tesla Model Y, Mitsubishi Outlander, Mercedes GLC, BMW X3 and Toyota’s iconic RAV4. In the large SUV categories Toyota’s Prado and the GLE from Mercedes-Benz topped their price ranges. Also in the mix are the MUX from Isuzu, Subaru Outback, BMW X5 and the Volvo XC90. For those that want plenty more grunt, check out the top sellers in the upper large SUV category. Here we’re talking big performers such as the LandCruiser and Patrol and the [Mercedes GLS and Audi Q8](https://www.audi.com.au/au/web/en/models/q8/q8.html "Compare the Mercedes GLS and Audi Q8 Models"). For large families, a people mover may be required to ensure everyone can come along for the holiday. The top selling people movers in September were the Kia Carnival, VW Multivan and Hyundai Staria. For road trippers that need their vehicle for work action as well, the classic ute is a great double-duty choice. The perennial top sellers in this category continue to the be HiLux, Ranger and Triton. But there are plenty of other sports utes worth considering. Where supply may be an issue and buyers are keen for a quick purchase, speak with us first and arrange pre-approved car finance. ## Which car loan? Selected which car loan may be a lot easier than selecting a car. Rather than shop around for the cheapest finance, buyers can engage with Jade Car Loans to deliver the cheapest loan offer from across multiple lenders. In regard to the type of loan, our [Secured Car Loan](/secured-car-loans "Drive Your Dreams with a Collateral-Backed Auto Financing Solution") is suited to most new cars and most private buyers. We achieve [cheaper business car loan rates](/car-finance-interest-rates) but the specific rate offered will depend on the individual assessment of the loan application. Interest rates on motor vehicle finance, like other lender markets, are affected by RBA rate rises. With another and possibly more cash rate rises imminent, buyers are urged to move quickly before the next increase. ## Where to? With car and car loan sorted, it’s time to plan the road trip route. The choices may be many with a wealth of great destinations which can be reached and accessed by car. But the recent rain events both earlier in the year and through the spring have seriously impacted many regions. Currently, there are flood-affected communities across Victoria, Tasmania and New South Wales. It is expected that areas of South Australia could be impacted as the waters flow downriver. A few things regarding visiting areas which have been subject to rain events and/or floods:- - Be mindful and respectful that these communities may have suffered considerable damage and emotional distress. Facilities and services may not be at their best, be considerate. In some instances it may be advisable to take water and some essential so as not to be pressure on local stocks and supplies. - Be smart. Don’t travel through flooded roads, follow emergency services advice and stay across road authority notifications when plotting a route. - Be supportive. Wherever possible, support these communities as they recover by visiting and spending holiday dollars to assist businesses get back to normal. An Australian summer road trip can be an incredible experience. Speak with us to assist with a cheap car loan to purchase the ideal vehicle for the journey. **Contact Jade Car Loans at 1300 000 003 for cheaper private car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Flood assistance - guidance for those with damaged cars under finance](https://www.jadecarloans.com.au/blog/flood-assistance-guidance-for-those-with-damaged-cars-under-finance) **Published:** November 6, 2022 **Author:** Publisher **Content:** With the current flood crisis affecting large areas and many, many people, the need for flood assistance in many forms is critical and essential. Flood relief is available through [government aid sources](https://www.premier.vic.gov.au/beginning-victorias-flood-recovery "Discover Government Assistance Resources") both at the state and [federal level](https://www.pm.gov.au/media/financial-support-people-affected-south-eastern-australia-floods "At the National Government Level"). It has been announced that personnel have been boosted to speed up the delivery of cash relief to flood-affected individuals and communities. The ADF has been deployed to many regions to assist and SES members from WA have arrived in NSW to support local crews and assist communities especially with the massive clean-up ahead. But apart from the immediate concerns, many individuals that have had goods that are under finance damaged and/or written-off, there may be additional worries. **For those with damaged or written-off cars under finance, flood assistance may be appreciated with reassurance and information on what action they can take**. Worrying about meeting car repayments can create extreme stress and mental health issues. Knowing what assistance is available and the process to follow may help to alleviate such issues. For those that are in urgent need to replace their cars to enable them transport to access services and facilities, Jade Car Loans can assist with expediting new car loan applications to facilitate quick replacements. We will also cover off on providing assurance for those that may have car loan applications currently in processing or have pre-approved car loans. ## Current Car Loan and Motor Vehicle Finance Holders The term ‘under finance’ refers to goods such as in this case cars and motor vehicles, which are subject to a personal car loan or business vehicle finance. When taking out these types of secured finance, eg [Secured Car Loan](https://www.jadecarloans.com.au/secured-car-loans.php "Unlock Your Auto Aspirations with a Collateral-Backed Vehicle Financing") and [car loans for sole traders](https://www.jadecarloans.com.au/car-chattel-mortgage.php "Sole Trader Car Financing: Empowering Your Business Mobility"), lenders require insurance to be acquired on the car. - So those with cars currently under finance should be covered by insurance. But car insurance policies do vary in regard to what is and is not covered, possibly this may include flood and storm damage. - If a car is written-off or damaged due to a flood event, this is the process to follow:- - Take photos of the car to show the condition with as many angles and images as possible to present a clear visual for the insurer. - Contact the insurance company as soon as possible. Large numbers of claims will be lodged as a result of the widespread damage caused by this current flood event. The faster a claim is lodged, the faster it may be finalised. - Many insurance companies offer an online claim service. - The claims process can vary from insurer to insurer. When lodging the insurance claim, individuals will be advised as to the process undertaken by their individual insurer. - Some insurers may need to send an assessor to assess the car and confirm it is unrepairable. Some may make decisions based on photos. - The bank or lender that the car finance is with holds the car as security over the finance and has an interest in the vehicle. - Contact the car finance lender and advise what has occurred and what steps are being taken. - Even when the car insurance claim is lodged, the car owner is still responsible to meet their car loan commitments with the monthly payments. If car loan payments are not met, the finance may be deemed in default and/or the credit rating downgraded. It is very important to avoid this situation as it can have long-term impacts. Interest rates on car loans are offered based very much on the credit rating. A downgraded rating may result in higher rates or greater difficulty in achieving car finance and other credit in the future. - When the insurer processes the claim, the bank or lender holding the security will be reimbursed with the relevant amount due. This may cover the entire amount owed on the car loan and that would finalise the loan. If the insurance claim exceeds the amount owed on the loan, the balance is paid to the insured. There is no need to wait for the insurer to settle the insurance claim being making a loan application to purchase a new car. We can handle the finance for you and this can be done over the phone and via email. ## Car Loan Repayment Relief Another area of assistance which may be required by flood-impacted businesses and individuals is in regard to relief with car finance repayments. Where income is affected as a result of the heavy rainfall and flood situation and difficulties are faced with making the scheduled loan payments, contact the bank or lender. In similar situations in the past, most banks and lenders have been extremely understanding and offered a range of options for loan repayment relief. As mentioned above, failure to meet loan repayments can have long-term and serious consequences. ## Pre-Approved and ‘In Process’ Loan Applications If you currently have a car loan application with Jade Car Loans in the quoting or processing stage, the approval process will proceed unless we are otherwise notified. If circumstances have changed as a result of the flood situation and you would like to pause or halt the application please contact your Jade consultant. Pre-approved car loans have a set time within which they must be used or else the loan offer expires. ## Loans for Replacement Cars Having a car is essential for many but even more so in many of the regional areas which have been worst hit by the floods. To assist those in this situation, we provide a fast and streamlined [ABN car finance](/abn-car-loan "Explore Vehicle Financing Solutions for ABN Holders") service and we handle the entire process so our customers can concentrate on other matters. As mentioned above, there is no need to wait for the insurance to be settled before applying. Your Jade consultant will explain that the current loan is due to be settled by the insurer so that issue does not impact the new loan offer. We trust this information has been of assistance and please feel free to contact us if you have further queries. **Contact Jade Car Loans at 1300 000 003 for quick service to source finance to replace flood-damaged cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Best Utes – awards, upgrades and finance tips on how to make one yours](https://www.jadecarloans.com.au/blog/best-utes-awards-upgrades-and-finance-tips-on-how-to-make-one-yours) **Published:** November 6, 2022 **Author:** Publisher **Content:** Aussies love their utes for their performance, versatility and workability. Buyers have a vast choice of models to select from the time comes to upgrade. But with so many options covering quite a price range, which are the real best utes? The rivalry between Ranger and HiLux has been seriously disrupted with many real contenders. While debate on which are the best utes will likely go on in perpetuity, recently announced award winners and model upgrades may provide direction for ute buyers. Especially **for business operators, price will likely be a consideration when purchasing one of the best utes on the market and that may depend on the cost of the finance**. We report on which utes the team at Carsales consider the best and news of upgrades to the very popular Isuzu D-Max and give our tips on how one of these best utes could be yours with cheaper finance. ## Best Ute 2022 – Carsales Awards The expert team at [Carsales](https://www.carsales.com.au/editorial/details/best-dual-cab-4x4-ute-2022-the-verdict-138004/) recently announced their 2022 car of the year awards, including the gong for the best 4×4 dual cab. The judging team narrowed the market down to 7 for the final verdict and readily admit, that there was not a ‘bad egg’ on the list. Good news for buyers! When considering the results of any awards, it is worth taking into account the criteria that framed the judging process. This can be reviewed at Carsales. But essentially, the selected contenders are 4-cylinder, diesel, mid-sized with auto transmission and similar towing capacity and payload. In terms of pricing, the criteria was around the $60,000 price before on roads. So which ute was considered the best by the Carsales team? In order the seven contenders were awarded as follows:- 1. Ford Ranger 2. Isuzu D-Max 3. Mazda BT-50 4. Toyota HiLux 5. Nissan Navara 6. GWM Ute 7. Mitsubishi Triton The details of why can be reviewed at the website. For buyers, the winners with Ranger, D-Max and BT-50 being awarded ahead of the HiLux, it might present some interesting considerations. Interesting perhaps to compare these awards with the perennial best-seller which is typically the Toyota HiLux and the Dual-Cab Ute for 2022 which was awarded by the expert team at Drive to the Isuzu D-Max. Of course one major issue for buyers to take into account and which may end up being a priority is availability. The timing around when you need the ute and when it is available to drive away may differ. Stock issues are tipped to persist in the motor vehicle market for some time. ## Isuzu D-Max Upgrades Flush with being awarded Drive’s best dual cab of 2022, Isuzu is giving the D-Max some serious upgrades for 2023. And reportedly, without a price increase. That can be a major buying pain point at the moment with so many new model vehicles arriving on the market with massive price increases. Isuzu Ute has announced a refresh to the D-MAX for the 2023 models. The company said the updates and upgrades have been driven by feedback from customers. The refinements include new variants in the range, new features and a refreshed design. The MD of Isuzu Ute Australia, Hiroyasu Sato said the update is the most significant since the range debuted with a bolder aesthetic and 4 new models adding to the line-up to give customers greater choice. Check out the details of the upgrades at the [Isuzu Ute website](https://www.isuzuute.com.au/ "Visit the Isuzu Ute Official Site"). And an important point to note in the statement is that this MY23 D-MAX is expected in local dealerships in December this year. Great news in a market which has been plagued with supply issues. To ensure you’re one of the first, speak with us about pre-approved ute finance. We mentioned no price increase, so what might you be looking at for a new D-MAX? Reports have pricing across the single, crew and space cab models ranging from around $32,200 to around $65,000 for the top of the range X-Terrain 4×4 Crew Cab. But the majority of the models sit in the $40,000s to early $50,000 price bracket. To see what those prices may mean in terms of car finance, use [commercial car finance calculator](/car-finance-calculator "Utilise Our Calculator for Corporate Vehicle Financing"). ## Getting behind the wheel of a ‘best ute’ with cheaper finance Mention of pricing is a great way to slide into the real affordability issue with buying a new ute – the finance. Especially for business operators, the figures have to stack up in regard to finance repayments working with cash flow. Sourcing the cheapest ute finance will be the priority and that starts with the cheapest interest rates. Rates vary across the lending market for both personal car loans and for business vehicle finance. And it’s no secret that the RBA is highly likely to announce further cash rate rises. Despite the six months of interest rate rises, we have maintained our policy of achieving [affordable business car loan interest rates](/car-finance-interest-rates "Find Competitive Rates for Business Vehicle Financing") and will continue to do so. To assist customers save time and source the cheapest finance, we handle the entire process of sourcing quotes, application approvals, paperwork and settlement. Tips for getting into one of the best utes with finance:- - Maintain a good credit score to ensure the cheapest interest rate and loan offer is received. - Engage our broker-style services to save time and hassle and handle the negotiations on rates and loan terms to ensure the repayments are affordable. - Ensure the finance has a fixed interest rate not a variable rate so the repayments are not subject to interest rate fluctuations. - Consider pre-approved finance to be well-placed to order asap and to provide confidence around the price range of vehicle to consider. - Businesses can consider tax measures such as temporary full expensing to achieve further benefits from the acquisition. **Contact Jade Car Loans at 1300 000 003 for cheaper finance on one of the best utes on the market.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [As interest rates rises, avoid scams and unsuitable car loans](https://www.jadecarloans.com.au/blog/as-interest-rates-rises-avoid-scams-and-unsuitable-car-loans) **Published:** December 4, 2022 **Author:** Publisher **Content:** As interest rates and the costs of living generally continue to rise, many people are feeling the pressure and that may, in some instances, lead to making unwise choices especially when seeking car loans to purchase a car. Scams are rife in many areas of life and buyers of cars and finance should be aware of these situations and any risks. **As rates rise, buyers should beware of scams as affordable car loans with better rates can be sourced through licensed credit providers such as Jade Car Loans.** Following the recent Scams Awareness Week, we thought it was timely to remind car buyers and car loan seekers of some of the guidelines and resources available to consumers to assist in making wise decisions around purchases and finance. ## Be Scam Aware [Scams Awareness Week](https://www.accc.gov.au/media-release/scams-awareness-week-2022-empowers-australians-to-spot-a-scam-0 "Stay Informed During Scams Awareness Week") was 7-11 November and the ACCC urged Australians to learn more about how to spot scams. There is a wealth of resources available on the ACCC website. ## Buying Used Vehicles Many car buyers have turned to the used car market lately due to the supply issues with new vehicles. There are many good quality used cars available and they can represent good value when purchased through reputable sources. Used cars can be purchased from a dealer, private seller in person or via an online platform. Used motor vehicle dealers are usually licensed members of the Motor Traders Association and that can be verified. Referring to online reviews may also assist in ensuring the dealer is reputable. If purchasing a car online, follow due diligent and smart buying guidelines. Checking Vin numbers and [PPSR](http://www.ppsr.gov.au "Access the Personal Property Securities Register (PPSR)") to see if the vehicle is under finance, and doing rego checks are just some of the basics to safe buying on online platforms. Always check guarantees and consumer warranties and see if the selling platform offers any buyer protections. For buyers of used vehicles requiring finance, used vehicles can attract a different interest rate than the rate advertised by most lenders. Unless otherwise specified, the best car loans interest rates advertised are for new goods. Prior to committing to a purchase, buyers can contact us for a quick quote so they are well aware of the interest rate and car loan repayments before buying. Just a note re current used car market prices. The limited supply situation in the new car market due to pandemic issues and computer chip shortages over the past two years has led to a surge in the used car market. Reports have been seen of prices also surging to above the price of new. Keep that in mind while viewing the market. ## Is the finance offer ‘too good to be true’? How good is ‘too good’? We’re referring to zero interest rate car loans. Our view, and the view of many other motor vehicle finance lenders, is for buyers to avoid or at least thoroughly scrutinise any offers of 0% interest rate car loans. The 0% interest rate is often used as a promotional ploy to attract customers. The no interest rate offer usually only lasts for a very short time – possibly 3-6 months of the total multi-year loan term. After that period expires a much higher than market interest rate can be applied. That much higher rate can make the entire loan extremely expensive compared with what could be secured. Read the fine print, ask questions and look closely at the fees and any exit penalties, which may be exorbitant. At Jade Car Loans we have a policy of better rates for cheaper overall loans which are sourced and structured to meet the requirements of each customer. Car buyers are welcome to speak with one of our consultants for a car loan quote to compare with any other offers received and discuss any queries. ## Consumer Finance Information Consumer finance, included [car loans for private buyers](/personal-car-finance "Explore Financing Options for Individual Vehicle Purchases"), is regulated and governed under the law through [ASIC](http://www.asic.gov.au "Access Information from the Australian Securities and Investments Commission (ASIC)"). All lenders providing consumer finance, including Jade Car Loans, must be Licensed Credit Providers and adhere to Responsible Lending Guidelines. When considering a loan offer, buyers can refer to ASIC to check the status of the lender is genuine. Under these laws, licensed lenders cannot make loan offers which are unsuitable to the loan applicant. Jade is a finance-broker style lender and a member of FBAA as assurance for our customers that you are dealing with a reputable and licensed company. ## Options for Genuine, Better Rates and Cheaper Car Loans It is no secret that interest rates have been increasing significantly over the past seven months as the RBA normalises the cash rate to pre-pandemic rates and works to bring inflation down. Banks and lenders, including those offering motor vehicle finance lenders will typically react to RBA rate rises with their own rate changes. But these rate changes can vary across the market as it is up to the guidelines of individual lenders. So interest rates on car loans can vary significantly across the market. Even a seemingly small difference in the interest rate can represent a meaningful difference in monthly repayments, especially at a time when many household budgets are under pressure. The differences that the interest rate makes to repayments can easily be seen by referring to our [commercial car finance rates](/car-finance-interest-rates "Check Out Rates for Corporate Auto Financing") We assist car buyers to source the cheapest rates from across a vast section of the motor vehicle finance market through our accreditations with many banks and non-bank lenders. We do that hard work and deliver car loans quotes that are suited to the needs of our customers and have been negotiated individually to the cheapest rates. Car buyers seeking finance can enhance their prospects of receiving a better car loans offer by maintaining a good credit score. Details on credit profiles and reports can be sourced at [Moneysmart](http://www.moneysmart.gov.au "Explore Financial Insights at Moneysmart"). While there are inflationary pressures currently impacting many individuals and households, affordable and cheaper car loans can still be possible through reputable and proven lenders. **Contact Jade Car Loans at 1300 000 003 for cheaper car loans** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Car loan options for cars for school leavers](https://www.jadecarloans.com.au/blog/car-loan-options-for-cars-for-school-leavers) **Published:** December 4, 2022 **Author:** Publisher **Content:** It’s that time of year when hordes of students complete their final year of school and head off to a job, undertake a training course or to tertiary education. For many families that raises the need for another car and often another that means, a car loan. While residents in urban areas and large cities may opt for public transport to commute to their post-school career and training, it is not always a viable option, especially in regional and rural areas. Even in cities, when part-time jobs or uni lectures require travelling home late at night, having a car may be seen as safer transport in many instances. Where a job or educational facility is a large distance from home, the car may mean a great time-saver. Having a car may also open up opportunities for work, either part-time or full-time. So buying a car for a school leaver can be more of a necessity than a luxury in many situations. But then comes the awkward question, possibly in dinner table discussions, who is going to pay for the car? There are sure to be many parents that have endured that ‘interesting’ conversation with their children. **Jade Car Loans presents a number of car loan options to finance the purchase of a new or used car for a school leaver or younger driver.** The alternatives are essentially for a parent/carer/guardian or other person to purchase the car with finance in their name or to go guarantor on a loan taken out by the younger driver to allow them to purchase the vehicle. These finance options present a number of considerations when making the buying and finance decisions which will outline. For the purpose of this discussion we will refer to ‘school leavers’. But that reference and much of the information provided may apply to many younger individuals for which this is a first car and a first car loan. ## Car Selection Before getting into the finance, first a few comments on choosing a car. The typical school leaver/young driver car is an economical small car, often a hatch or small-sized sedan. But that category is becoming smaller and smaller as the popularity for passenger cars diminishes and the demand for SUVs increases. Selecting a suitable car may involve broadening the horizons. The new car market has been experiencing supply issues due to global pandemic and computer chip issues. This short supply situation has led to a significant increase, in general terms, for second-hand cars. According to the FCAI the supply issues are showing signs of recovering so there may be more new vehicles coming onto the market in coming periods. Many new cars are arriving with higher price tags than earlier models and the second-hand market is also quite strong in relation to price and demand. Price will of course increase the total loan amount and the monthly repayments. When deciding between new or used, be mindful that second-hand car loans can attract a higher interest rate than new car finance. For new cars and many good quality used cars, our [Secured Car Loan](/secured-car-loans "Realise Your Automotive Dreams with a Collateral-Backed Auto Financing") will be the most suitable type of loan. It is suited to all types, makes and models regardless of size and other features. ## Personal Car Loan Application Requirements Personal car loans are consumer finance and as such regulated and governed by [ASIC](http://www.asic.gov.au "Access Resources from the Australian Securities and Investments Commission"). Any lender that offers consumer finance is required to meet those regulations and not offer a loan which is deemed unsuitable for the applicant. Lenders must assess loan applications in accordance with the regulations. Under Australian consumer laws, applicants must be over the age of 18. While most school leavers will have reached that age, they may not meet other requirements in a loan application. The application form requires information about current and previous employment history, income and other financial details. Lenders will also refer to the individual’s Credit Report as part of the application assessment process. As many school leavers will not have acquired a significant credit history and possibly not have a full-time income, they may not be approved for a car loan on their own. Options do exist in these situations as we will now explain. ## Car Loan Options As mentioned briefly above, the two options for ‘school leaver’ car loans are a guarantor or for a suitable person to purchase the car and allow the younger person to use it essentially as their own. Going Guarantor and having the loan in their name will put the individual on the start to building their own credit profile and may have other benefits in regard to financial management and personal responsibility. But interest rate may be higher than would apply for an older, more credit-established individual. Responsibilities and obligations and a level of risk is associated with going guarantor for anyone in regard to all types of finance. These can be reviewed at [Moneysmart](http://www.moneysmart.gov.au "Explore Financial Insights at Moneysmart"). Another and very popular option is for the parent/guardian to purchase the vehicle and take on finance in their own name and ‘gift’ the car to the younger person. This can be a more attractive option in some cases where the individual has a good credit profile to attract the [lowest business car loan interest rates](/car-finance-interest-rates "Find the Most Competitive Rates for Corporate Auto Financing"). Existing finance and loans will be assessed by lenders when considering the car loan application. If the applicant has multiple other loans, this may impact the interest rate offered and should be kept in mind. The driver of the vehicle does not itself impact the car loan quote or conditions but will likely impact the insurance. ## Car Insurance Our Secured Car Loan like other secured loans does require that comprehensive motor vehicle insurance be taken out on the vehicle. Comprehensive insurance is separate from the CTP or green slip which is Compulsory Third Party insurance. Insurers will take into account the age and driving experience of the nominated driver when issuing insurance quotes. Taking out insurance on a vehicle which is to be driven by an under-25 or under-21 year old driver typically attracts a higher premium. The insurance policy needs to be current for the entire car loan term. Lenders will typically contact customers each year to ensure the insurance on the vehicle has been renewed for another year. That is a general and brief overview of the main options but we address each car loan application individually and as such, other alternatives may also present. If you are or have a school leaver that is seeking a car loan to purchase their first car, please feel free to have a no-obligation discussion with us about the most suitable finance option. **Contact Jade Car Loans at 1300 000 003 for car finance options for first car buyers.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Do RBA cash rate rises affect car loan interest rates?](https://www.jadecarloans.com.au/blog/do-rba-cash-rate-rises-affect-car-loan-interest-rates) **Published:** December 4, 2022 **Author:** Publisher **Content:** There has been a lot of talk and focus on interest rates this year. Specifically the Reserve Bank increasing what is known as the official cash rate. Following each of these increases, the media coverage tends to focus on the outcomes for home mortgages. For those considering buying a new car with finance, this may have caused some confusion as to how these cash rate rises actually affect car loan interest rates. Queries and confusion can exist around whether or not there is any impact; if existing car loans will change; and most importantly, how buyers can source the cheapest car loan interest rates. To assist car buyers, **this article explains the connection between RBA cash rate changes and car loan interest rates with information on how to secure cheaper car finance rates.** ## Official Cash Rate: Explainer The specific definition of a country’s official cash rate is the ‘market interest rate on overnight funds’. In simple terms, it’s the interest rate that banks pay on their overnight borrowings. The central bank of each country sets the official cash rate. In Australia, the central bank responsible for setting the cash rate is the [Reserve Bank of Australia](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia"). The cash rate forms part of setting Monetary Policy which is the responsibility of the RBA. The bank operates under the Reserve Bank Act of 1959 with objectives of maintaining stability in the country’s currency, maintaining full employment and Australia’s economic prosperity. More can be read on Monetary Policy at the RBA website. Monetary policy settings and the cash rate are established according to the economic conditions at the time. The Board of the RBA meets on the first Tuesday of each month, except for January, to make a decision on the cash rate. Whether to increase, cut or keep the rate on hold. The Board assesses the recent data such as inflation figures, unemployment as well as global issues which can or have potential to impact Australia’s position. ## What triggers changes to the cash rate? The cash rate is determined by the RBA Board based on analysis of the economic data. Inflation and unemployment are key aspects for consideration. When the economy is seen as requiring a stimulus, the cash rate can be cut. This makes borrowing money more attractive, or as the RBA tends to put it, more accommodative. This was the case during the start of the COVID-19 pandemic when a worst-case scenario for the economy was a possibility. The economy needed to keep moving and lower interest rates were seen as a way to attract businesses especially to continue investing in assets with finance. The lower rates also seen as attracting individuals to make major purchases. Over 2020 and 2021, the RBA cut the cash rate to the lowest ever – a historic low of just 0.1% The RBA cash rate cuts were followed by cuts in interest rates in many lending markets. This was especially of note in the housing market with home loan rates dropping to record low levels but also prevalent across other areas including motor vehicle finance. But the Australian economy bounced back faster than expected from the pandemic and many people had plenty of funds stored after extensive periods in lockdown. This led to a large increase in demand. But there were supply chain disruptions globally which impacted the availability of many goods in Australia. This simplistic explanation essentially led to soaring inflation. Prices rising as strong demand was not being met by the constrained supply scenario. So the RBA needed to act and return interest rates to more normal, pre-pandemic levels. They needed to raise the cash rate to slow down demand and control inflation. At the same time, unemployment levels were at near-record lows. At the moment, inflation is at one of the highest rates seen in decades. The RBA has lifted the cash rate each month since May 2022 but still expects inflation to increase further before starting to fall next year. So more increases in the cash rate are to expected from the RBA over the coming period as they adhere to their policy of bringing inflation back to the target of 2-3% from the current level of over 7%. ## Outcomes for Car Loan Lenders As the cash rate is a rate charged to lenders on their borrowings, it follows that any change in that interest rate would result in the banks and other lenders adjusting the rates they charge on their finance products accordingly. This includes lenders in the motor vehicle finance market. We tend to see immediate changes to home loans as a result of cash rate changes, but decisions re car loan interest rates may happen at a different pace and amount. Lenders are not bound by RBA decisions. Each can make its own decisions and may be based on a range of factors including their interest in being highly competitive in the car loan area. Some lenders may change rates at different times to RBA decisions on the basis of forecasts by their own economists and analysts. The individual decisions by lenders around setting rates leads to variations in [commercial car finance rates](/car-finance-interest-rates). An issue which can create hard work for car buyers trying to find the cheapest rate and the best loan to suit their circumstances. The solution to that situation can be to engage a specialist motor vehicle finance broker such as Jade Car Loans. We have accreditation with multiple lenders which means we have the lender’s approval to source loans through them for our customers. With access to so many lenders and with our expert industry intel, we have the ability to identify which lender is currently offer the best deals on car loans and deliver those cheaper rates and better loans tour customers. ## Existing Car Loans When changes are made to interest rates, either through cash rate changes and/or from individual lenders, this does not automatically trigger a change to those that already have car loans. Any change will depend on whether the loan has a fixed or a variable interest rate. Fixed interest rate car loans have an interest rate which remains unchanged for the full term. Variable rate loans, including [no doc car loans Australia](/no-docs-car-loans-for-business-vehicles "Explore Hassle-Free Auto Financing in Australia with Minimal Documentation"), on the other hand, can be subject to rate changes by the lender. For our Secured Car Loan, which suits most buyers, we secure a fixed interest rate so our customers can be assured that their loan won’t change when the cash rate or lender rates change. ## Achieving Cheapest Car Loan Interest Rates While the cash rate is a starting point for many lenders to set their own rates, the individual’s creditworthiness is the major determinant of what rate they will be offered. Loan applicants, including those looking for [abn holder car finance](/abn-car-loan "Discover Vehicle Financing Solutions for ABN Holders"), may increase their prospects of being offered a cheaper rate by maintaining a good credit profile. Using our services can also assist as our consultants have the bargaining power to negotiate with our lenders on rates. The topic of the cash rate and implications for car loan interest rates is quite complex, but hopefully we have shed some light on the issue and simplified the process for those seeking new car loans. **Contact Jade Car Loans 1300 000 003 for cheaper car loans** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Temporary full expensing runs out 30 June 2023. Consider ordering vehicles now.](https://www.jadecarloans.com.au/blog/temporary-full-expensing-runs-out-30-june-2023-consider-ordering-vehicles-now) **Published:** December 4, 2022 **Author:** Publisher **Content:** What? Why are we talking about the end of financial year activities when its only November? Well when you’re considering purchasing new motor vehicles, you need to plan ahead at the moment. And if you want to take advantage of the tax benefits to business from temporary full expensing, that may mean planning new vehicle purchases well ahead. As in, possibly 6 months. **With many of the new cars sold in October for pre-orders, if planning to use temporary full expensing, business should consider ordering vehicles ASAP.** While the [FCAI](http://www.fcai.com.au "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") noted in releasing the October car sales data that supply appeared to be easing, there was a key comment from other sources worth special mention. A great percentage of the new car sales in October were to pre-orders/wait list customers. For some very popular models, there have been long delays in delivery with reports of 6 months or so. The current off of temporary full expensing expires on 30 June 2023. Do the maths and the situation becomes very clear. We explain what is so attractive to business from utilising temporary full expensing and what is the most suitable motor vehicle finance for this purpose. ## What’s on offer with temporary full expensing For starters, [temporary full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Learn About the Temporary Full Expensing Program") is only available for businesses, not private car buyers. In order to be eligible for business vehicle finance, must have an ABN at the very least. Temporary full expensing is an accelerated asset depreciation measure. ‘Temporary’ means it is only available for a limited time. The current timeframe has been available since April 2020 when it was originally launched as a stimulus measure, more commonly and originally referred to as Instant Asset Write-off. It expires on 30 June next year so eligible assets must be acquired and operational in the business prior to that date. The ’full expensing’ refers to the full value of the new assets can be fully expended or depreciated or written-off in the same year as they were acquired. For businesses seeking a boost in paying less tax in that year, this can represent a distinct benefit over the usual asset depreciation schedule. Deducting the full value of a new vehicle would reduce the taxable income of the business and hence the amount tax which is payable in that financial year. In doing so, it may also trigger eligibility for Loss Carry Back Offset. That is another measure currently on offer only until the end of the current financial year. It allows losses to be ‘carried back’ rather than the usual ‘carried forward’. For businesses that showed a profit and paid tax in the relevant years as stipulated by the [ATO](https://www.ato.gov.au/business/loss-carry-back-tax-offset/ "Access Information from the Australian Taxation Office (ATO)") this may mean receiving a refund on tax paid in earlier years. So all in all, this could be a very advantageous measure to consider. A conversation with the business accountant is advisable to ensure the business is eligible with the appropriate accounting method in place and other issues. ## Eligible Vehicles, Eligible Businesses Business operators should check all the details around eligibility for temporary full expensing in regard to the assets, ie vehicles and the business. The ‘assets’ must be new assets not refinanced. Most new motor vehicles including passenger vehicles, cab chassis, vans and SUVs should be eligible. The asset must be a depreciable asset, which brings in the issue around choice of finance, which we will come to. Eligible businesses must come under the turnover threshold which does cover the majority of enterprises in Australia. ## Suitable Motor Vehicle Finance Option Key to being able to depreciate or fully expend an asset is purchasing with the appropriate finance product. In order to be in a position to depreciate an asset, it must be ‘owned’ by the business, in other words, appear on the balance sheet. The asset can be ‘under finance’. The most appropriate form of business vehicle finance for this purpose is considered to be [car loans for sole traders](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners"). With this form of finance, on settlement, the ownership of the vehicle is transferred to the business and as such is posted to the balance sheet and can be depreciated. To clarify this aspect, compare with [Business Motor Vehicle Leasing](/car-lease "Discover Corporate Auto Lease Options") where the ownership of the vehicle remains with the lender. It does not transfer to the business until the finance is finalised. Another great attraction for Chattel Mortgage is that it has the lowest interest rate of the range of business vehicle finance products. With the RBA set to increase the cash rate again, any savings on achieving a lower interest rate will be most welcome by most operators. ## New Businesses: Low Docs and No Docs Options Small and new businesses may be eligible to take advantage of temporary full expensing with new vehicle acquisitions. To assist with the finance aspect, we offer [Low Docs Car Loans](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles") for these types of businesses. It can often be a challenge for this category of businesses to secure workable finance at affordable interest rates. Our Low Docs Loans are designed to assist businesses to achieve exactly that – affordable motor vehicle finance that will work with the cash flow of a burgeoning operation. Now you have the details, it may be time to start looking at vehicles and speak with us about pre-approved finance to get a good idea of how much your business would be approved to borrow and with what estimated repayments. **Contact Jade Car Loans at 1300 000 003 for Chattel Mortgage car finance for use with temporary full expensing.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Get Holiday Road Trip Ready with a Cheap Car Loan](https://www.jadecarloans.com.au/blog/get-holiday-road-trip-ready-with-a-cheap-car-loan) **Published:** December 5, 2022 **Author:** Publisher **Content:** So you’ve made that last minute decision that this summer holiday will be a road trip. But get your plans into action, you need a new car and a cheap car loan. There may not be a lot of time, but it can be possible to achieve a cheap car loan in a short timeframe. When in a hurry to make a deadline, it can result in kneejerk reactions and potentially poor decisions. When those poor decisions involve finance, there can potentially be long-term negative outcomes. Especially if that decision is to sign up for a car loan which is not as suitable or as cheap as may have been attained if a few basic steps were followed. For starters, note that there should be no surcharge or premium when a car loan is required quickly. But Licensed Credit Providers such as Jade Car Loans, must adhere to the Consumer Laws as regulated by [ASIC](http://www.asic.gov.au "Access Resources from the Australian Securities and Investments Commission"). This does involve set procedures, which we will prepare you for with our check list. Also note that the same interest rate would apply regardless of the need for a quick loan approval. We can provide quick quotes, fast approvals and prompt settlements for all our customers. A pre-approved car loan which could save some time in the buying process and should be considered as a possibility. With finance secured before commencing the purchase price, the buyer knows the budget and can look for vehicles in a precise price range. This can save a lot of time. Buyers with pre-approved finance are ready to say ‘yes’ on the first test drive and save those follow-up contacts and visits to the dealership. When the desired vehicle is low in stock, a pre-approved car loan can place the buyer in a great position to avoid missing out. Our **checklist may assist buyers looking to source a cheap car loan in a short timeframe to buy a new vehicle for an upcoming holiday or other urgent purpose**. We’ve included tips and hints to assist in avoiding pitfalls that may present when making major finance decisions quickly. ## Car Loan Options The same types of car loans will apply whether the buyer has loads of time or needs to purchase ASAP. For buyers of cars for private use, the [Secured Car Loan](/secured-car-loans "Unlock Your Auto Dreams with Collateral-Backed Vehicle Financing") will suit most buyers and most cars. While we’re focussing on road trip cars in this article, many business owners will also be using their business vehicles for personal use. If the vehicle is to be used primarily in a business, the selection of finance options include [sole trader car finance](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners"), Lease, and Commercial Hire Purchase. Business owners are strongly advised to spending that little extra time to discuss the finance options with their accountant. With supply issues still persisting in some new car markets, buyers may look to the used car market to purchase a vehicle quickly. There can be differences in loans for used cars and new cars. The differences will depend on the age and condition of the vehicle. Differences may include a higher interest rate, a cap on the total loan amount and other lender requirements with a secured loan. Where the lender does not accept the vehicle as security, buyers may consider an Unsecured Personal Loan. ## Lender Options While the actual types of loan are relatively universal, there can be significant differences in the interest rates, depending on the lenders. Car loans are available from a number of lender categories including banks, finance companies, many car dealers and manufacturers and through specialist motor vehicle finance brokers such as Jade Car Loans. Deciding from which lender to source the loan is an area where buyers in a hurry can potentially lose their way when it comes to achieving a cheap car loan. It may appear a time saving move to accept the finance offered from the car dealer. But that seemingly savings in time may not be matched in saving in interest. With so many lenders in this market, using our services provides buyers with the advantage of having a wide choice of lenders covers and the cheapest car loan offer achieved. It may sound like the process of using a broker will take a long time. But be assured, we can provide quick quotes and fast approvals AND at better interest rates. ## Interest Rates The [commercial car finance rates](/car-finance-interest-rates "Compare Rates for Business Vehicle Financing") offered on car finance do vary across the lender market. When calculated over the full term of the finance, those seemingly small variations can represent significant amounts in some cases. The interest rate offered on a car loan will be based on a number of factors including the [credit rating](http://www.moneysmart.gov.au "Explore Your Financial Health and Creditworthiness") of the applicant. How fast the finance is required should not have a bearing on the rate in the car loan offer. So achieving a cheap car loan with our better rates, may represent a significant saving over the longer term. Savings to go towards more holidays possibly! So while time may be a factor, choosing the lender and achieving the cheapest interest rate car loan is not a step which should be short-cut. ## Getting a Loan in Time for Holidays With that overview done, here’s a check list of tips and hints:- - Before applying for a car loan, set a realistic budget in regard to car loan payments. - Use our calculator to convert car prices to estimated loan repayments to establish a price range of cars to look for. - If using the advertised car price, check the details for what would be added to that price and include it in the loan amount to ensure you are prepared. Eg is a full year of registration included. - Allow for comprehensive car insurance as this will be required as a condition of the finance. Your Jade consultant may be able to assist you with this. - The application for a personal car loan is Consumer Finance and as such, we will require certain information and documents. Get these ready ahead of time to streamline that stage. These include financials, income details, employment history, residential details and a list of regular expenses. - Start the finance process asap. We can be sourcing a quote based on an estimate of what the car is expected to cost. Pre-approved finance can be sought ahead of time or in conjunction with the car search process. Your Jade consultant handles not only the quotes, but also handles the paperwork and settlement to ensure the entire car finance process is streamlined. A cheap car loan can be possible even when finance is required quickly to meet a tight deadline such as heading off on a holiday. Follow the due process and utilising our services can be of great assistance. **Contact Jade Car Loans 1300 000 003 for a cheap car loan to make road trip holiday plans a reality.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [HiLux Record Sales as November’s Top Selling Cars Revealed](https://www.jadecarloans.com.au/blog/hilux-record-sales-as-novembers-top-selling-cars-revealed) **Published:** December 19, 2022 **Author:** Publisher **Content:** The latest sales results have been released detailing the top selling cars by brand and model for November. While the figures record new car sales, it is a classic, long-time Aussie favourite, the Toyota HiLux, which is attracting the main attention for record-smashing results. The sales result for November for the HiLux places the much-loved ute in the esteemed company. The sales figures for the [HiLux](https://www.toyota.com.au/hilux) for 2022 so far (year-to-date) are the largest recorded in the country for a new vehicle for nearly 2 decades and are ahead of the model’s 2021 results. According to reports, these sales numbers have not been seen since the early part of the 2000s when the Falcon and Commodore dominated the new car market. The November result also saw HiLux once again take top spot over the Ford Ranger. Other notable moves in the November top selling cars results are a continued rise in EVs and hybrids and two popular Chinese badges – GWM Haval and MG recorded higher figures than South Korean brands for another month in 2022. For those in the market for a new car, and we note that the monthly VFacts as reported by the FCAI are only for new car sales, we catch you up on the November results. **When reviewing the monthly top-selling cars also consider the options available for cheaper car loans and business vehicle finance through Jade Car Loans.** ## FCAI Reports November Car Sales The [FCAI](http://www.fcai.com.au "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") reported the November 2022 new vehicle sales figures this past week, noting an increase of nearly 18% on the total figures for November 2021. Once again, the passenger car segment continues to fall while the SUV market continues to rise significantly. For November 2022, SUV sales were up just under 32%. Mr Tony Weber, the Chief Executive of the FCAI said that the auto sector was continuing its recovery from the computer chip shortage, pandemic shutdowns and the uncertainties around the supply chain. He said the 1,000,000th vehicle to be sold in Australia in 2022 would occur in early December. Mr Weber noted the positive nature of the latest news but that there were still customers facing extended delays in receiving their new vehicles. Some extend more than 12-month waiting times. In a sign of the changed environment post-pandemic, the FCAI notes the increase in sales to rental car companies ahead of what is expected to be a huge holiday season following several years of border restrictions. The sales of EVs – battery, plug-in hybrids and hybrids, continued its upward trend. Mr Weber noted the proposed Federal Law changes regarding tariffs on EVs etc. and the importance of purchase incentives and other aspects in driving down Australia’s carbon emissions from light vehicles. ## Top Brands, Top Models Now into the detail of what buyers are really after – the top selling cars by brand and model. As we mention each month when reporting this data, keep in mind Mr Weber’s comment re delivery times. There are still wait times for some makes and models and as was seen in a previous month with the Ranger, a major shipment arrival in a month can affect figures for that month. In the brand stakes, Toyota maintained its dominance at the top followed by Mazda and then Ford in third place. Kia and Mitsubishi rounded out the top five. Then came Hyundai, MG, Subaru, VW and GWM Haval. In the top-selling vehicles across all categories, it was the HiLux out in front, ahead by just under 400 units from the Ranger, with another Toyota, the popular Corolla joining them on the podium. Fourth place was taken by the MG ZS, then Toyota’s RAV4, Mazda CX5 and Mitsubishi Outlander. The final models in the top 10 were the Sportage from Kia, the Tesla Model Y and the Tucson from Hyundai. With SUVs continuing top of the popularity stakes and for those still hoping to purchase a new SUV for a summer holiday road trip, we give you the top 3 sellers in some of the popular SUV categories. In the light category, the Mazda CX3, Yaris Cross and Jimny from Suzuki topped the sales charts. In the small categories – under and over the $40,000 price point, respectively the top three were MG ZS, Mitsubishi ASX, Subaru XV and Audi Q3, Volvo XC40 and Volvo C40. Those looking for a medium SUV, the top sellers include the RAV4, Mazda CX5, Outlander, Tesla Model Y and Lexus NX. In the large and upper categories, best sellers include the Ford Everest, MU-X, and Sorento. Mercedes-Benz GLE, Audi Q7, LandCruiser, Patrol and Audi Q8. As mentioned, HiLux reclaimed the top spot in the 4×2 ute category from Ranger but Ranger presided as a best-seller in the 4×4 category. Triton and D-MAX remain in the top 3. ## Buying Top-Selling Cars with Cheaper Finance The sales figures as reported each month are for new vehicles. And anyone who is in the market for a new vehicle is aware of the sharp price increases that are being seen on new models. Placing the onus on the motor vehicle finance to deliver relief regarding overall purchase cost. Start by reviewing the cheap interest rates we are currently achieving on both [personal car financing](/car-finance-interest-rates "Discover Loan Options for Your Individual Vehicle Needs") and [business vehicle finance](/business-car-finance "car loan for business") and use these rate comparison tables as finance calculators. These useful car loan tools allow buyers to quickly calculate rough finance repayment estimates to assist with buying decisions. For a confirmed quote on finance for new top-selling cars, simply give us a call and our consultants will assist. **Contact Jade Car Loans at 1300 000 003 for cheaper finance on top-selling cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Interest Rates Rise – what you need to know about getting the cheapest car loan](https://www.jadecarloans.com.au/blog/interest-rates-rise-what-you-need-to-know-about-getting-the-cheapest-car-loan) **Published:** December 19, 2022 **Author:** Publisher **Content:** With the supply of new cars increasing with the easing of global supply issues as noted by the [FCAI](http://www.fcai.com.au "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)"), the options and prospects of buying that new vehicle are finally improving. But there have been a number of developments over the past year which may make the price tag of that long-awaited vehicle a lot higher than buyers had planned for. As a result, the key focus for many buyers turns to sourcing the cheapest car loan to ensure the purchase is affordable. With inflation soaring both here and overseas and due to other issues in the manufacturing process, many buyers may find new models arriving in Australia with a price hike. Also on the rise this year have been interest rates. [The Reserve Bank of Australia](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") has increased the cash rate by 3% over 8 rate rises. Rises which have potential to flow through to increases in lending markets including motor vehicle finance. **With interest rate and price rises, car finance becomes more important and new car buyers may benefit by knowing how to go about getting the cheapest car loan.** As specialists in motor vehicle finance, we share the information that new car buyers need to know. Defining the cheapest car loan can be seen from a few perspectives. It can be the interest rate which of course directly affects the repayments and the total cost of the loan. But ‘cheapest’ for some buyers may mean sourcing the lowest monthly loan repayments. We address the ways that both of these objectives can be addressed. ## Types of Car Loans The types of loans for cars and relatively universal across the lending sector. The [Secured Car Financing](/secured-car-loans "Unlock Your Auto Dreams with Collateral-Backed Vehicle Loans") will be the most suitable loan type for private buyers of new cars and many used cars. Business buyers have the choice of a number of [commercial car finance](/business-car-finance "Explore Financing Solutions for Business Vehicles"). With a secured loan, the vehicle is accepted by the bank or finance company as the security or guarantee against the finance. In the case of some used cars that are not seen by the lender as acceptable security, and Unsecured Personal Loan may be considered. But in this discussion, we’re focussing primarily on loans for new cars. ## What to look for with Lenders The motor vehicle finance market is very large with many manufacturers, through their dealers, joining banks and finance companies as well as finance brokers like ourselves to offer car loans. While the Secured Car Loan is generally universal in its format and major features, there can be variations across different lenders. These variations may be in the approach taken and guidelines around negotiating on interest rates, the loan conditions, loan amount they will approve and the actual interest rate. Navigating through the many options and identifying the nuances and differences can be challenging and very time-consuming. Buyers can eliminate that hassle by using services such as those of Jade Car Loans to handle the entire finance process. Our broker-style lending services are available to all new car buyers – both private and business. This includes buyers of the smallest, lowest-price tag new vehicle right up to a top of the range model. So private buyers should not be put off from using our services and taking advantage of the benefits of having a professional source and negotiate the cheapest car loan option for you. Even first car buyers and first time loan applicants can use these services. ## What to look for with Interest Rates Interest rates are key to the cheapest car loan. Private buyers should compare Comparison Rates as well as Advertised Rates to make an informed decision. The Comparison Rate is the interest rate on a specific car loan example after some of the fees and charges have been included. As can be seen from our [business vehicle financing interest rates](/car-finance-interest-rates "Check Out Rates for Corporate Vehicle Financing"), rates can vary across the market. Note especially how those rate variations can play out in higher monthly loan repayments. They also add up in the total interest payable on the loan which effectively adds to the purchase price to represent the actual cost of the vehicle. One warning is to avoid promotional offers for 0% interest rate loans. These are usually in the ‘too good to be true’ category. That zero interest usually only lasts for a short time after which a much higher rate will apply. If attracted to these types of ads, read the fine print and at least call us to discuss what we can offer. ## How Interest Rates are Set and Offered Car loan interest rates vary across the lending market because lenders set their rates based on their own practices and guidelines. Specialists in the sector such as ourselves, can choose to offer lower rates to be more competitive. When RBA decisions are made in regard to increases in the cash rates, it is up to individual lenders as to when and by how much they may increase their rates. Lenders tend to advertise their lowest possible interest rate. That will apply for new car purchases and for loan applicants that have a good credit profile or score. The interest rate offered by a lender will be determined by an assessment of the individual application. This can mean that two individuals can apply for a car loan from the same lender for exactly the same car and be offered different interest rates. In order to be offered the best rate, applicants should be mindful of maintaining a good credit profile. There are useful resources available to assist with addressing any problems. Applications are also assessed in regard to the ability for the individual to repay the loan. This is made by lender reviewing the applicant’s balance sheet – what they owe and what they own, and ongoing expenses. To present a better balance sheet, applicants can consider paying off any other loans before applying for a new car loan. ## How to keep repayments reasonable If cheapest for a buyer means the lowest possible repayments, a few other strategies can be taken in addition to sourcing the lowest interest rate. The monthly repayment is calculated with the interest rate, the total amount of the loan and the number of years of the loan. Varying any of these elements can change the monthly repayment. So if the new car has a higher price tag than expected, consider making a higher deposit to reduce the amount required for the loan or requesting a longer loan term. Both of those will reduce the monthly repayment. In regard to loan terms, be mindful that lenders will have a say in the maximum terms they will approve. Also note that a longer loan term can result in a higher total interest payable. The prospects of securing the cheapest car loan can be a realistic possibility for many new car buyers and may go a long way to countering the effects of price and rate rises. **Contact Jade Car Loans 1300 000 003 for a quote on the cheapest car loan for a new car purchase.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Experts Name their Best Cars for 2022](https://www.jadecarloans.com.au/blog/experts-name-their-best-cars-for-2022) **Published:** December 19, 2022 **Author:** Publisher **Content:** With such a great selection of all types of motor vehicles on the Australian market and with new models being launched each year, it can be a challenge for buyers to know which are the best cars available. That process is made easier each year with a number of awards-style programs conducted by experts in the motoring field. Carsales conduct their annual Best Cars program to assist new car buyers identify what their expert team consider the best on the market. The program covers a large number of categories including the Best First Car, Best Small, Mid-sized, Family and Off-road SUVs, Best Hot Hatch, Best EV and Best Dual Cab Ute. The ultimate category is the Best Car overall for that year. Some of the winners in these categories were announced earlier in the year. But with the supply issues in the new car market, actually buying a new car has been a challenge for many buyers. With supply issues now starting to ease as mentioned by the [FCAI](http://www.fcai.com.au "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)"), we thought it timely to revisi the best cars winners to assist those buyers that are now genuinely in the market for a new car. The carsales team have been hard at work testing and comparing after narrowing the contenders down to the finalists and the winners have been announced for some of the categories so far. We’re catching you up with what is known so far so buyers can start test-driving the best cars and talking finance. ## Winners for 2022 All awards-style programs have their criteria as to which, in this case cars, are eligible for each category. Then they have their judging guidelines and usually a panel of judges. In the case of these carsales [Car of the Year](https://www.carsales.com.au/best-cars/ "Discover the Vehicle of the Year") awards, we recommend reviewing these details to fully understand why the winners were selected. In the Best First Car category, contenders must be under the $30,000 price threshold and meet the other specific criteria. The Mazda 3 was announced the winner in this category against a strong field of contenders which included – Hyundai i30, Kia Rio, Mazda 2, Kia Cerato, Yaris and Corolla from Toyota, Suzuki’s Swift and the Subaru Impreza. Best Small SUV was announced earlier in the year with the Hyundai Kona Highlander the winner. Others in contention included a Seltos and Stonic from Kia, Mazda’s very popular CX-3 Akari LE AWD and their CX-30, Mitsubishi’s ASX and Eclipse Cross and Toyotas Yaris Cross and C-HR amongst quite a few others. For those requiring something slightly bigger, check out the contenders of the Best Mid-sized SUV award. The experts considered the Kia Sportage the best when judged against the Ford Escape, Honda CR-V, Haval H6, very popular Mazda CX-5, top selling Toyota RAV4 and the Subaru Forester with others also in contention. Needing to take the whole family in your SUV? Then the winner of the Best Family SUV, the Kia Sorento could be the purchase for you. The Sorento took the gong when judged against other models including the Hyunda Santa Fe, Toyota Kluger, Mazda Cx-9 and CX-8 and the VW Tiguan. [Best Off Road SUV](https://www.carsales.com.au/editorial/details/best-off-road-suv-2022-134898/ "Explore the Top Off-Road SUV Options") announced back in March and prospective buyers should read the criteria for this category as some models were ruled out of contention for various reasons. Winner for best was decided as the Land Rover Defender 110 from an impressive field of contenders. Best EV will likely attract a lot of attention as the sales of EVs and hybrids have been posting increased results over the past few months. The Tesla Model 3 was considered the best from a field which included Kia EV6, Lexus UX 300e, Mini Electric, Nissan Leaf, Polestar 2 and a number of others. Pricing is still a major barrier for many buyers to get into the EV market but upcoming changes to tariffs may bring pricing down. Sourcing the [cheapest commercial car loan rates](/car-finance-interest-rates "Find the Most Affordable Rates for Business Vehicle Financing") can also make EVs a more affordable option for many buyers. Best Overall Car of the Year for 2022 was announced in November as the Kia EV6. ## Finance for the Best Cars **Buying what experts consider one of the best cars released this year can be an affordable option when motor vehicle finance at the cheapest rates is achieved.** Interest rates have been on the rise as the [RBA](http://www.rba.gov.au "Official Website of the RBA - Reserve Bank of Australia") has increased the cash rates for the past 8 months. Giving rise to potentially even greater rate variations in car loans. We assist buyers find the cheapest rate from across our vast lender panel. Business buyers considering EVs can also look to upcoming tax and tariff changes to make for a more affordable purchase. These changes including to FBT can make Salary Sacrificing an attractive option for EVs. We assist businesses and employees with this through [Novated Vehicle Leasing](/novated-car-leasing-and-salary-sacrificing "Discover the Benefits of Novated Car Leasing"). To get rough repayment estimates on a loan for any of the best cars as judged by carsales, use our finance calculator or simply contact us for a confirmed quote. **Contact Jade Car Loans at 1300 000 003 for finance on the best cars on the market.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Insights into Interest Rates Rises: RBA Meeting Minutes](https://www.jadecarloans.com.au/blog/insights-into-interest-rates-rises-rba-meeting-minutes) **Published:** December 27, 2022 **Author:** Publisher **Content:** **Buyers having had to delay car purchases due to supply may get insights into future interest rates from RBA meeting minutes to assist with planning car finance**. The supply situation in the motor vehicle sector has meant many buyers have been unable to secure their stock until next year. The announcements of cash rate decisions by the RBA provide a level of information behind each decision. But for those wondering what the RBA Board is really thinking and what could lay ahead, reading the minutes of the RBA Board’s monthly meetings can be quite illuminating. The minutes of each RBA Board meeting are released a few weeks after each meeting. With so much commentary around rates at the moment, it may be worthwhile for those planning car purchases with motor vehicle finance to stay across as much detail as possible. We provide an overview of the key points in the minutes of the December 2022 Board meeting. The entire [document](https://www.rba.gov.au/monetary-policy/rba-board-minutes/2022/2022-12-06.html "Read the RBA Board Minutes for December 6, 2022, Here") is accessible at the RBA website for those interested in further detail. ## Discussion on Economic Developments The members of the RBA Board discussed developments in both the global and the Australian economy. Observations included:- - Inflation globally remained high but appeared to have reached a peak in some countries. - China continued to have challenges especially in regard to containing COVID-19. - The global data considered pointed to the normalisation of supply chains moderating inflation and inventories getting back to more normal levels as delivery timeframes from suppliers shortened. - Data on the Australian economy was in line with the Board’s assessment made at its meeting in November. - October CPI data showing inflation remaining high though there was a slight decline in the annual inflation rate. The members of the Board noted that the monthly figures for the December quarter were ‘still new’ and should be considered with a level of caution. Some of the contributing factors only becoming evident on the last month of the December quarter. ## Decision-Making: 0, 25 or 50 Basis Points? Possibly the most interesting take-out from the December Board Meeting Minutes is the discussion by the members around whether to announce a 0.5%, 0.25% or 0% rate rise at the meeting. The minutes outline the arguments discussed by board members for each option. In regard to a 0.5% rise the arguments included:- - Inflation rate remaining high. - Continuing high levels of demand with lower supply. - Cash rate not at historically high level as yet and if more restrictive action was ultimately required, time would be required for this to lessen demand. In regard to a 0.25% rise the argument included:- - As with the arguments for the 0.5% rise, these included recognition of the need to better balance supply and demand. - Acknowledgment of the already significant interest rate increases and how time would be required to see the full impacts of these. - Discussion around mortgage payments and when the rate rises would start to impact those currently on fixed rate home loans. - Easing off in demand and resolving supply chain issues could be expected to ease risk of price wage spiral. In regard to a 0.0% rise the argument included:- These arguments are likely to attract most interest. In recent remarks, Governor of the RBA, Dr Philip Lowe said that the Board had not ruled out returning to the large 0.5% increases nor ruled out leaving rates steady. The arguments discussed by Board members in regard to leaving the cash rate unchanged for December included:- - The lag effects of the rate rises made so far. - The value of continuing cautiously with the uncertainties in the current environment. - Forecasts most recently indicated that it would still take a number of years for inflation to reach the RBA’s target even with further rate rises. - Central banks in other countries had not paused their rate rises. The minutes record the Board members acknowledging the arguments for each of the options. However, the case for a 0.25% rate rise was considered the strongest and that was the decision taken at the December meeting. In making this decision, the minutes record that the Board note the importance of consistency and that changing to larger rises or pausing rates at the moment while there was not ‘clear impetus’ from data, could lead to uncertainty. The minutes record that the Board would be considering a range of rate options, including those related to [low doc car loan](/low-docs-car-loans-for-business-vehicles "Minimal Documentation Vehicle Financing for Business Vehicles"), at its next meeting. It was also noted that a return to larger rate rises was not ruled out if the circumstances warranted such action nor was the option of keeping rates unchanged ruled out. ## Car Finance Considerations For those planning new vehicle purchases with [car loans for business](/business-car-finance "Explore Vehicle Financing Solutions for Enterprises") in the coming months, it may be encouraging to hear that at the least the prospect of rates being unchanged is on the table. The next meeting of the RBA Board regarding rate rises is scheduled for early February but lenders do make their own decisions re changes to their car loan interest rates. Banks and non-bank lenders may make decisions based on forecasts from their own analysts. While the RBA Board meeting minutes provide interesting insights, it does still look like we will see further rate rises in 2023. We assist those seeking finance to source the cheapest rates available at the time as variations do exist in rates across the [business car financing rates](/car-finance-interest-rates "Check Out Interest Rates for Corporate Auto Financing") market. **Contact Jade Car Loans at 1300 000 003 to source the cheapest motor vehicle finance interest rates.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EOY Car Sales – Current Offers, Finance Options](https://www.jadecarloans.com.au/blog/eoy-car-sales-current-offers-finance-options) **Published:** December 27, 2022 **Author:** Publisher **Content:** The end of the calendar year has traditionally been the time to make major purchases with the customary year-end sales across many markets. But with the current supply issues in the new car market, there could be less deals to be captured at this time of year, with little necessity for dealerships to clear excess stock. But manufacturers still appear to be advertising special offers and deals on new vehicles. But buyers may need to be quick as these are usually only available ‘while stocks last’ or have an expiry time. With the high demand for new cars, genuine buyers will want to be ready to commit ASAP. **Buyers considering taking advantage of end of year car sales and special offers may benefit by first sourcing pre-approved car finance through Jade Car Loans.** We did some research to update on what manufacturers are currently running car sales and offering special deals plus provide buyers with information on sourcing finance prior to purchase. ## Current New Car Deals Here are a few of the currently advertised special offers on new vehicles. Prospective buyers should check the details of the offer, paying particular attention to the expiry date. - Jeep is advertising complimentary on-road costs on the new Gladiator. The brand is also offering a great driveaway price on certain Grand Cherokee models – but only until 31 December. So no time to waste. - Volkswagen has special deals until 31 December on certain Tiguan, T-Cross and other models. - [Kia](https://www.kia.com/au/offers/car-offers.html "Explore the Range of Kia Vehicles") has a number of special offers also valid till the end of the year. These include on the very popular Stonic, Cerato models, Picanto, Stinger and Rio. - The featured offer from Hyundai is on the Venue. Driveaway pricing is hot for both the 6 speed manual and automatic models. Once again, timing appears to be for December only. - [Suzuki](https://www.suzuki.com.au/latest-offers?gclid=Cj0KCQiAtICdBhCLARIsALUBFcGtlgBw8yakvn5C5PFFUt2AaTVWQIaAeYgWE00HBWfh1JH_Kxf5CQIaAgfXEALw_wcB "Discover the Suzuki Lineup") is also advertising special offers on the small SUV Ignis and on the hot hatch Swift. Both great cars to consider for school leavers needing a vehicle to get to uni or college next year. Pricing is in the very affordable range and when [business car finance calculator](/car-finance-calculator "Utilise Our Calculator for Corporate Vehicle Financing") with our cheaper rates, these could be very serious purchase options. - [Mitsubishi](https://www.mitsubishi-motors.com.au/offers.html "Check Out Mitsubishi's Vehicle Selection") has deals on a number of models currently advertised. These include on the popular ASX SUV and also on the Triton work vehicle. Business buyers considering the Triton as their new work vehicle may also realise tax benefits through temporary full expensing with [sole trader car finance](/car-chattel-mortgage "Tailored Vehicle Financing Solutions for Independent Business Owners"). ## Buying Used & Online – ACCC Scam Warnings With issues in the new car market due to COVID-related issues, many buyers have turned to the second-hand car market including purchasing online. This has led to quite a rise in prices in the used car segment. A factor which buyers should consider in relation to finance, insurance and potential maintenance costs. Insurance is required to be taken out with [Secured vehicle finances](/secured-car-loans "Unlock Your Auto Dreams with Collateral-Backed Vehicle Financing"). Purchasing from reputable, licensed used motor vehicle dealers should provide buyers with certain warranties and assurances. But buying privately may not offer such benefits. Buying used cars online can also come with certain risks. If buying online or privately, it may be useful to check ACCC [Scamwatch](https://www.scamwatch.gov.au/ "Stay Informed with Scamwatch's Insights") for tips, cautions and reminders. ## Vehicle Finance Options To be first behind the wheel for special offers, buyers can arrange their finance beforehand. We offer pre-approved car loans, including the [cheapest ABN car loans](/abn-car-loan "Find the Most Affordable ABN Car Financing Options"), across our full portfolio of finance products. The process follows the same steps as applying for finance after the vehicle is selected. The exception being that the final price and hence loan amount required, may not be known. Our consultants will process the application through to the approved stage based on an estimate and then finalise the amount when the car is actually decided on. The interest rate will be the same – pre or post purchase, as the rate offered is made based on an assessment of the applicant. However, interest rates for used car finance may vary from new car interest rates. The rates advertised by lenders are, unless otherwise indicated, for brand new goods. Interest rates can vary across the motor vehicle finance sector. A rush to capture special offers or low stock should not be reason to forego making informed decisions on the vehicle choice and especially on the car finance. By engaging with Jade Car Loans, buyers enjoy the advantages of having the cheapest interest rate finance sourced on their behalf by our professional consultants. If planning to buy a new vehicle at end of year sales, give us a quick call to commence the finance process while you head off to test drive. **Contact Jade Car Loans at 1300 000 003 for pre-approved motor vehicle finance to quickly capture special offers and car sales.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Understand more about car finance interest rates with improved economic literacy](https://www.jadecarloans.com.au/blog/understand-more-about-car-finance-interest-rates-with-improved-economic-literacy) **Published:** January 13, 2023 **Author:** Publisher **Content:** Just the mention of ‘economic literacy’ will likely have many readers immediately clicking to the next story. But for motor vehicles buyers that really want to better understand how car finance interest rates are set and what causes changes, improving this knowledge may be a benefit. When taking on any form of finance, including car loans, buyers need to be in a position to make informed decisions. The greater the knowledge attained, the better position buyers may be in to make those key decisions. Over the ‘pandemic years’, Australians have been more exposed to economic issues than usual. The regular press conferences by the Prime Minister, Premiers and both state and federal treasurers contained many references to issues around the economy that had been or had potential to be impacted by the pandemic. We heard a lot about unemployment rates and the effects on the economy. The issues around the economy were key to many businesses and individuals receiving Government support and grants. A key event was the Reserve Bank of Australia (RBA) slashing interest rates in response to these economic issues. Did you really understand why that was happening? Many probably just accepted it and took advantage of the historically low rates for many goods including for car finance. But as the crisis period of the pandemic appeared to ease-off, interest rates started to rise significantly and look like continuing to be increased in the time ahead. Having a greater level of economic literacy may assist in putting all this in perspective and in providing a greater understanding of what may happen with car finance interest rates for those intending to purchase new cars in 2023. We offer a basic rundown on economic literacy, where to access resources to assist and an overview on the relevance for car finance interest rates. ## What is economic literacy? [The Reserve Bank of Australia (RBA) notes that defining economic literacy](https://www.rba.gov.au/publications/bulletin/2022/dec/economic-literacy-what-is-it-and-why-is-it-important.html) is not completely straightforward. But in the general vernacular, let’s say it is having at least an understanding of some of the key terms and concepts around the performance of the economy. **RBA resources are available to assist buyers better understand the economy which may lead to better understanding car finance interest rates and car loans.** [The bank website has an education section](https://www.rba.gov.au/education/) with a range of resources to assist those that wish to improve their knowledge bank. While inflation and unemployment are generally understood but here are a few other simple explainers:- - Quantitative easing and tightening: During the pandemic, quantitative easing was part of the RBA’s policy to bring down interest rates. Tightening is when central banks stop buying these bonds and simply let them mature. This is an important aspect of the RBA’s role and can affect interest rates. Stay tuned for more in the media on this. - Wage-price spiral: The RBA Board has mentioned this in several monthly statements. This is when wages grow then pushes up prices. Businesses having to increase prices to cover the increased wages. The RBA is balancing rate decisions to avoid this situation in Australia. - Real wage growth: ‘Real’ growth in wages is when the increase to the pay packet is actually ahead of price rises. The performance of the economy dictates the actions of the RBA in terms of interest rates and also of government policy, especially at Budget time. ## Relevance for Car Finance Interest Rates Having at least a general understanding of economic terms and trends may provide a greater understanding of RBA cash rate decisions which in turn can impact car finance interest rates, including those like [Tesla finance](/tesla-finance "Explore Tesla's Financial Services"). These rate decisions – both cuts and hikes, are determined by the economic conditions and data. That data relates to issues such as inflation, unemployment, wage growth and the prospects for the economy to enter recession or even a depression. The RBA may also use quantitative measures to bring down inflation which may ease rates. Knowing what the signs may mean may assist in having at least an awareness of what may happen with interest rates moving forward. ## Sourcing the Cheapest Car Finance Interest Rates For those that don’t have the time, interest or the inclination to improve their economic literacy, don’t panic. Cheap car finance interest rates can still be achieved even without and academic level of economic literacy. Buyers can engage specialist car finance brokers such as Jade Car Loans to [source the cheaper car loans](/why-jade-car-loans). Our role is exactly that – to take the brief from our client and source the cheapest car finance interest rates and loan from across our large number of lenders. **Contact Jade Car Loans 1300 000 003 to assist in sourcing the cheapest car finance interest rates for personal and business vehicles.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Planning to buy a new vehicle with car finance in 2023? Tips to achieve a better outcome](https://www.jadecarloans.com.au/blog/planning-to-buy-a-new-vehicle-with-car-finance-in-2023-tips-to-achieve-a-better-outcome) **Published:** January 13, 2023 **Author:** Publisher **Content:** ## Tips for Getting Cheaper Car Finance in 2023 2023 is shaping up as a popular year to buy new cars. As noted by the [FCAI](http://www.fcai.com.au) when releasing the December car sales figures, supply issues around availability of new vehicles in the Australian market appear to show signs of easing. For buyers that have had to defer purchase plans simply because the vehicle they wanted was not available, 2023 could be the time to buy. Most new vehicle buyers will require car finance and be seeking the cheapest car loans at the best interest rates. Some buyers may think that any car loan offer is totally up to what the bank or the finance company is prepared to make. What buyers may not know is that actions can be taken to improve the prospects of being offered cheaper car finance and services from Jade Car Loans to assist buyers achieve a better outcome. With inflation still at very high rates and more rate rises expected by the Reserve Bank of Australia (RBA), 2023 could be a challenging year and every effort may be worth it to reduce outgoings with cheaper car finance. As specialists in the motor vehicle finance sector, we share our tips to assist buyers achieve cheaper car finance. ## Know how car finance rates are set and offered Appreciating how lenders arrive at their car finance interest rates and how individual offers are made to buyers may be beneficial. As with most lending markets, the car finance market rates are affected by the cash rate decisions made by the RBA. Through most of 2022 the RBA has increased the cash rate each month which has led to rises in lending rates generally. But the December [RBA](http://www.rba.gov.au) decision is where the interest rates scenario got a little more confusing. In the minutes of the Board meeting, it was revealed that the Board considered a range of options including returning to much larger rate hikes as well as pausing rate rises. So where rates will go in the months ahead is a wait and see proposition. A lot will depend on the December quarter inflation figures and the RBA’s assessment of the overall global and domestic economic data. Car finance lenders make their own individual decisions around if and when they will increase or decrease their motor vehicle finance interest rates. Some may move ahead of RBA decisions based on their own analysis and some may hold rates as low as possible to have a competitive edge. What buyers should be aware of is that the lender rates advertised will usually be for brand new cars and for loan applicants that have a good credit rating. Used cars may attract a different interest rate and possibly different conditions on the car finance. ## Improve your cheaper car finance prospects Lenders assess each application for car finance individually for creditworthiness – the ability to repay the loan. This involves credit checks and an assessment of the personal financial position. Personal car loans are regulated under consumer finance laws which lenders must adhere to. Individuals can improve their prospects by getting a copy of the credit profile and checking to see if any errors can be fixed before the car finance application is made. Details on this can be obtained at [Moneysmart](http://www.moneysmart.gov.au). The ability to pay assessment may include a review of the balance sheet – what is owed and what is owned, and of course employment and wages. Finalising other loans and debts and reducing outstanding credit card balances can improve the personal balance sheet and possibly prospects for cheaper car finance. Employees may also like to consider Salary Sacrificing when planning the purchase of a new car. This is an agreement between employer and employee so the OK from the boss will be required. We can then assist with arranging the suitable Novated Car Lease with Salary Sacrificing. ## Businesses – consider tax offsets Business buyers can factor in the tax deductions available with different business vehicle finance options to effectively achieve more affordable car finance. Particularly note temporary full expensing which works well with Chattel Mortgage. Also note the deadline for this measure is 30 June. To learn more, visit [Car Loans Brokers At Jade](/car-finance-broker "Experience Expertise with Jade Car Loan Brokers"). ## Buy to budget It sounds fairly basic and a no-brainer, but selecting a car with a price that actually works with the car finance budget, including options like [no doc car financing](/no-docs-car-loans-for-business-vehicles "Hassle-Free Car Financing Without Documents"), is important. In order to do that, buyers can Request A Quick Car Loan Quote from our consultants. This is finance which is applied for, the application processed right through to the approved stage with a firm offer before the car is actually selected. ## Utilise available services Achieving the cheapest rates and cheapest car finance may be assisted by utilising our professional services. Services which are available to both personal and business car buyers for all types of motor vehicles. We source the cheapest loan offer from across our vast lender panel. Buyers with bad credit issues and businesses that do not have all the documents to complete the finance application are welcome to utilise our services. Check out the [Tesla Finance Calculator](/tesla-finance "Calculate Your Tesla Financing Options with Ease") and discover No Fuss for No Deposit Car Loans to explore your options. **Contact Jade Car Loans at 1300 000 003 for cheaper car finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [EV Finance Update - Toyota Announces Electrification Plans](https://www.jadecarloans.com.au/blog/ev-finance-update-toyota-announces-electrification-plans) **Published:** February 9, 2023 **Author:** Publisher **Content:** After a much slower start than many other countries, especially Europe, the Australian car market appears to be showing greater emphasis and interest in electric vehicles (EVs). The Federal Government announced that a cut in import duties will contribute to lower prices on some vehicles and increased affordability. Many manufacturers, now including Toyota, have made major commitments to further electrification of their ranges. Toyota has recently strengthened its commitment to the EV market with an announcement of new models, future stock quantity commitments and charging facilities. **With Australia’s leading auto manufacturer, Toyota, further committing to EVs, interested finance can source cheaper interest rate loans from Jade Car Loans.** Affordability has and continues to be a key buyer turnoff to purchasing an electric vehicle. The second major issue has of course been range. Our cheaper interest rate EV finance may offset the acquisition costs while more charging facilities should assist drivers heading off on longer journeys. ## Toyota Announcement On 31 January, [Toyota](https://www.toyota.com.au/ "Toyota Australia") posted a statement that revealed the company’s advanced electrification plans. According to Toyota, 72,815 hybrids were sold by the company in 2022. That was 31.5% of the total new vehicles delivered. Their plans moving forward on the back of those sales include several moves – new models, more numbers of electrified vehicles in the overall stock and charging facilities at its dealerships. The plans announced are for at least three EVs to be launched by the maker in three years. The first will be the BZ4X SUV late in 2023. Toyota plans to have more than 50% of its sales being electrified vehicles which encompass hybrids as well as other technologies, in 2025. Further strengthening its commitment, Toyota announced a $20m investment in charging facilities by its details to support servicing and sales of its customer’s EVs. 232 dealership sites are involved in the first stage of the charging network, which is already underway. This stage is due to be completed before the launch of the bZ4X later in the year. Sean Hanley, the company’s Australian VP of Sales, Marketing and Franchise Operations, said that these announcements demonstrated Toyota Australia’s determination to combat climate change by being part of the solution. According to Mr Hanley, the company would introduce further EVs progressively to provide its customers with affordable and practical means to reducing emissions. Even before when they can purchase a zero-emissions vehicle. Mr. Hanley said that the company was committed to bringing EVs to the local market as they knew it would plan an ever-growing part in assisting the company and its customers to reach net zero carbon emissions. He said the company knew it would take several years to overcome the challenges that EVs faced. These he noted as the shortages in battery material, insufficient charging facilities and meeting customer requirements including towing. The company sees it as too early to put ‘all their eggs’ in the EV basket. The company will be maintaining its strategy of utilising several technologies – battery and other electrified powertrains. Toyota globally has plans for the launch of 30 new EVs by 2030, lifting the sales in its EV market to 3.5m pa. Mr Hanley said the company would be continuing to evaluate the Australian market for EVs. The commitment is to offer an electrified variant of each model in its range. The dealer charging infrastructure would include a mix of AC as well as fast-charging DC outlets in both regional and metro areas and smaller locations. ## EV Finance Update With more interest in EVs comes more interest in the loans to make these purchases, including options like an [affordable Tesla loan](/tesla-finance "Cost-Effective Tesla Financing Plans"). The type of finance products is the same for all vehicles regardless of the fuel source. The difference between personal car loans and business vehicle finance is based on the use of the vehicle – for private or business. Interest rates offered are primarily determined by the buyer’s credit profile. Motor vehicle finance rates vary across the market and with the [RBA](https://www.rba.gov.au/ "Reserve Bank of Australia") expected to announce further cash rate rises this year, the importance of using our broker services to secure the cheapest rate from across the market grows. Business buyers are reminded that they can increase the cost-effectiveness of vehicle purchases with temporary fill expensing. Only a few months left to take advantage of this measure so contact us for quotes on [Chattel Mortgage](/car-chattel-mortgage "Car Loans - Cheap Car Finance From 6.43%* | JADE") finance. **Contact Jade Car Loans 1300 000 003 for cheaper interest rates on Toyota EVs** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Need to organise a car for tertiary student? Car finance options](https://www.jadecarloans.com.au/blog/need-to-organise-a-car-for-tertiary-student-car-finance-options) **Published:** February 9, 2023 **Author:** Publisher **Content:** February – March is the traditional start to the academic year for most Australian tertiary institutions. After several years of learning from home, most 2023 students will be needing to attend classes at the uni, college, TAFE or other tertiary educational institution. For many, it means the need for their own car and consideration of car finance options. **As specialists in motor vehicle finance, Jade Car Loans has car finance options for cars for tertiary students, bought by the student or by another party.** We work with tertiary students and their parents or guardians, to source a workable and viable solution to ensure the student has a reliable vehicle for their travel requirements. ## Secured Car Finance Criteria The [Secured Car Loan](/secured-car-loans "Collateral-Based Auto Financing") is the most common and widely-used finance product for vehicles purchased for private use. It suits new cars and second-hand cars in good condition. The difference between finance for new versus used models should be noted as it is somewhat of a custom for a first car for a tertiary student to be a second-hand vehicle. The vehicle becomes the security for this type of loan which is why the condition of a second-hand vehicle may be an important consideration. If the condition of a used car does meet the lender’s approval for security, an Unsecured Personal Loan may be considered. The differences in interest rates and other loan conditions should be compared with purchasing a used vehicle compared with say a budget brand new model. Our [business car finance calculator](/car-finance-calculator "Calculate Business Auto Financing") is a great tool to compare rates and other loan features. While not related to the finance but definitely an important buying consideration can be potential ongoing maintenance and repair costs on a second-hand vehicle. Secured car loans are consumer finance and as such subject, to the Consumer Finance Laws as regulated through [ASIC](http://www.asic.gov.au "ASIC Compliance Guidelines"). One of the key criteria to be eligible to apply for finance is being over the age of 18 years. The application requires information to be provided on employment history, income, debts and assets and other financial information. Our lenders assess each application individually in regard to the interest rate offer and other loan conditions such as the total loan amount and loan term. ## Buying a Car for a Tertiary Student Due to the potential issues with a tertiary student applying for car finance in their name, parents or guardians make choose to buy the car with finance in their name and allow the student to operate and be responsible for the vehicle. Comprehensive insurance is required with secured loans and the cost of this may be a consideration with under 25 year old driver. If an arrangement is made for the student to contribute to the payments, attention should be paid to the repayments schedule being maintained. If the student is late with the payments, this will reflect on the credit profile of the person who’s name the loan has been arranged in. ## Young Car Finance Applicant Tertiary students are usually over the age of 18 and are eligible for applying for their own car finance. The employment history and credit profile will be assessed in preparing a loan offered by our lenders. The types of issues which applicants may be presented with include:- - Limit on the loan amount requested. This would be considered in relation to the purchase price and/or value. - The applicant may not be seen as a good risk and as such attract a higher interest rate. - In the worst-case scenario, the loan application may not be approved. Applicants may improve their prospects of having their car finance approved by having another person go as guarantor for the loan. ## Guarantor Option Applicants of all ages that do not have a good enough credit profile to be approved for finance or attract the best rates can consider the guarantor option. A guarantor is a third party to a loan agreement. The guarantor is guaranteeing the loan. Where the loan holder defaults on the repayments, the guarantor is responsible to take on the financial commitments and make the payments. Being a guarantor is a legal responsibility and those considering the option should fully understand what is involved. Information on this credit option can be found at [Moneysmart](http://www.moneysmart.gov.au "Financial Education with Moneysmart"). ## Sourcing Car Finance When using Jade to source car finance, buyers are assigned their own consultant to handle the process on their behalf. For those working through the options to organise a car for a tertiary student, your consultant will assist with quotes for the different options, including [car hire purchase](/commercial-hire-purchase "Purchase a Car through Hire Agreement"). We will be negotiating with lenders to get the cheapest and most workable solution for the purchase. Finance can be arranged prior to purchase to assist with ticking all the boxes before the sale has been committed. **Contact Jade Car Loans at 1300 000 003 to discuss the car finance options to provide a vehicle for a tertiary student.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Comparing Personal Car Loans for Cheapest Interest Rates](https://www.jadecarloans.com.au/blog/comparing-personal-car-loans-for-cheapest-interest-rates) **Published:** February 20, 2023 **Author:** Publisher **Content:** When buying a new car, most buyers will check out the market thoroughly to find which brand or which dealer has the best offers on the type of vehicle required. A traditional part of the buying process is also to try haggling with the dealer on the trade-in offer and/or the purchase price. Something that may not be as successful at the moment where supply of some makes and models is a lot tighter. When making the buy with finance, it also makes sense to compare personal car loans to get the cheapest deal. At the moment, interest rates have been increasing as a result of decisions by the [Reserve Bank of Australia (RBA)](https://www.rba.gov.au/ "Reserve Bank of Australia") to lift the cash rate to bring down inflation. These decisions do have an impact on car loans interest rates and can lead to more variations across the market. The cheapest interest rates and best personal car loans can be found if buyers understand the details and know how to approach the source process. ## Secured and Unsecured Personal Car Loans There are two main types of loans for private car buyers. Private buyers being buyers of vehicles for personal rather than business use. [Secured Personal Car Loans](/secured-car-loans "Secured Personal Car Loans") are the most widely-used loans for new vehicles and second-hand vehicles in good condition. The car is accepted by the individual lender, as suitable security against the finance. Where the lender does not consider that the car is suitable security, buyers can consider an Unsecured Personal Loan. ## Personal Car Loans Market Personal car loans are categorised as consumer finance which is regulated by [ASIC](https://asic.gov.au/ "Australian Securities & Investments Commission"). Under the ASIC regulations all lenders offering loans for the purchase of private motor vehicles must be licensed and adhere to the Responsible Lender Guidelines. There are standard procedures that all lenders must follow when making car loan offers to customers. These include what assessments of the application must be undertaken, what information must be provided to the customer amongst other requirements. Car loans are available through:- - Banks – both the major Big 4 as well as some second tier or smaller banks. - Finance companies – a wide selection of non-bank lenders operate in the motor vehicle lending sector. - Motor dealers and manufacturers – usually offered through an arrangement with a finance company. - Finance brokers – such as Jade Car Loans, that are accredited with multiple lenders and offer a service to buyers to source the most suitable loans from across a large number of banks and non-bank lenders. In order to get specific car loan quotes based on the specific details of the applications, buyers will need to make contact with the lender and submit an application. The interest rate the lender is advertising may not be the rate that the buyer is offered. Using a calculator only provides estimates and is a general tool. The results are not quotes. When requesting quotes for personal car loans by submitting an application, it is reported by the lender to the Credit Reporting Agencies. Having multiple quotes for the same loan may negatively impact the credit profile. Getting sufficient quotes to make an informed comparison and decision can be time consuming and for some, confusing. **Buyers can save time and more easily compare personal car loans interest rates with vehicle finance specialist broker, Jade Car Loans, than doing it themselves.** Using us to source the cheapest offer does not impact the credit profile. ## Personal Car Loans – Variations In comparing loans, either specific offers or general lender information, there can be variations in the loan details based on:- - Minimum and maximum amounts that will be approved generally and based on specific details of the application. - Interest rate type – fixed or variable. - Amount of interest rate – rates vary across the lender market. - Deposit required – not all lenders may offer no deposit finance, some may request a larger deposit. - Loan term approved. - Assessment of credit profile is carried out by all lenders but some have stricter guidelines around approval criteria. ## Advertised Rate and Comparison Rate Lenders show an advertised rate and a comparison rate. The Comparison Rate is the interest rate applicable to the specific car loan application as detailed, including those seeking the [best business car loan rates](/car-finance-interest-rates "Business Vehicle Financing with Competitive Rates"). The rate is calculated using the advertised rate and includes some, but not necessarily all, charges. Showing these two rates is required by law. ## Does the type of car change the loan? Loan offers are made primarily based on the assessment of the applicant. But the vehicle – new or used, will be assessed as will the price of the vehicle in relation to the loan amount requested. The actual type of car – sedan, SUV, hatch, will not generally impact the car loan offer. ## Comparing Personal Car Loans with Calculator Using a finance calculator is a great starting point for comparing interest rates and car loans. But it should not be relied upon solely. The rate and specifics of the loan which may be offered to the individual may vary, resulting in a different rate and repayment. Calculators are best used for getting rough repayment estimates and a general idea of the difference in repayments for different loan amounts and differently priced cars. ## Securing Cheaper Personal Car Loans Our consultants assist customers by doing all the comparing of loans on the market that fit the specific profile of our customers. We then negotiate for the best rates and loan conditions and quickly present the cheapest offer for consideration by our customers. Cheaper personal car loans deals can be found quickly and easily by using our services. **Speak with Jade Car Loans at 1300 000 003 to easily compare personal car loans and secure the cheapest offer.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Attention - don’t miss out on extra business vehicle finance tax benefits](https://www.jadecarloans.com.au/blog/attention-dont-miss-out-on-extra-business-vehicle-finance-tax-benefits) **Published:** February 22, 2023 **Author:** Publisher **Content:** Business vehicle finance tax benefits can markedly reduce the cost of a new vehicle purchase. Benefits through tax deductions are available at all times, on all business finance products, subject to meeting Australian Taxation Office (ATO) criteria and regulations. But currently, there is an additional measure available only for a limited time that may offer even more significant deductions and benefits to eligible businesses. [Temporary full expensing](https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Temporary-full-expensing/how-to-claim-temporary-full-expensing/ "How to claim temporary full expensing | Australian Taxation Office") offers significant extra business vehicle finance tax benefits for new vehicles but is only available until 30 June 2023. Business owners and operators that would like to capitalise on this opportunity are reminded of the timeline and encouraged to move on new vehicle acquisitions with the suitable finance product. Stock availability for new vehicles has been a major obstacle for purchasers. But according to the [FCAI](https://www.fcai.com.au/ "Representing the Australian Auto Industry | Federal Chamber of Automotive Industries"), the most recent sales figures tend to indicate an easing with the supply situation. Now could be the ideal time to check out the availability of the preferred vehicles, speak with us about suitable finance and ensure the acquisition meets the timeframe for temporary full expensing eligibility. ## General Tax Benefits on Business Vehicle Finance Forms of business vehicle finance tax benefits are of course always available. Certain elements and costs of finance are tax deductible either directly or via depreciation of the motor vehicle. The specific tax deductible elements vary with the different finance products. Here’s a summary of tax benefits for the two most popular forms of business vehicle finance:- - **Business Vehicle Lease**: The monthly lease payment is treated as a business expense and therefore fully tax deductible. That includes the interest portion of the payment. GST is applied to lease payments, not the interest portion, and claimable on the relevant Business Activity Statement. - **Chattel Mortgage Vehicle Finance:** The monthly finance payment is not fully deductible. The interest portion of the payment is considered a tax deduction. A tax deduction is realised through the depreciation of the vehicle’s value. The amount of the annual depreciable deduction is per the ATO schedule at the time. GST is charged on the vehicle purchase price and the full amount can be claimed on the next Business Activity Statement. ## Current Limited Time Tax Benefits – Temporary Full Expensing The current limited-time measure, which offers significant business vehicle finance tax benefits for new vehicles, is of course, temporary full expensing. The key word to note at the moment being ‘[temporary](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Temporary full expensing | Australian Taxation Office")’. This offer is coming to an end very soon – at the end of the 2022/23 financial year. The potential tax deductions can be significant and may be a very welcome cost relief come tax time, especially when considering [new business vehicle finance](/new-car-finance "Financing Solutions for New Business Vehicles"). Especially with many businesses facing higher costs in supplies and constraints on production due to the tightness in the labour market. Temporary full expensing allows for the whole amount of the purchase price of new business vehicles to be depreciated in full in the same year that the vehicles were purchased. That can be a much great tax deduction on taxable income for 22/23 compared with under the normal depreciation scheduling. The deduction would be realised when the accountant prepares the business income tax return. By reducing the taxable income by this larger amount, less tax would be payable compared with if a smaller deduction was available. Facing a smaller tax bill in the latter part of the year may be extremely welcome by many business operators. Easing pressures on cash flow which may offset those rising operational costs. Operators should check the criteria for eligibility for their business and the vehicle being purchased. A discussion with the accountant is also advised as the choice of business vehicle finance is critical to being able to take advantage of this tax benefit. This is an asset acquisition tax measure and as such, all types of business vehicles may be eligible. ## Suitable Business Vehicle Finance – Chattel Mortgage To be in a position to realise the temporary full expensing tax benefits on business vehicle finance, including [abn car financing](/abn-car-loan "Car Loans for Australian Business Numbers"), the vehicle must be a depreciable asset. For that purpose, Chattel Mortgage Business Vehicle Finance is considered the most suitable loan type. Chattel Mortgage is a secured loan where the vehicle ownership is immediately transferred to the business buyer on settlement of the purchase and the finance. With ownership, the business lists the vehicle as an asset in the books and claims tax benefits via the relevant depreciation schedule. This is one of, if not the most widely used form of business finance for many assets. For those considering this opportunity, the added attraction is that Chattel Mortgage attracts a lower interest rate compared with Vehicle Leasing. Your Jade Car Loans consultant can arrange pre-approved vehicle finance to assist with budgeting and planning which vehicle to purchase. **Contact Jade Car Loans at 1300 000 003 for cheaper business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Decisions and outcomes that could affect car loans in 2023](https://www.jadecarloans.com.au/blog/decisions-and-outcomes-that-could-affect-car-loans-in-2023) **Published:** February 22, 2023 **Author:** Publisher **Content:** **Following key government decisions and outcomes of certain events this year may assist new vehicle buyers with planning and budgeting for new car loans in 2023**. While the range and standard format of personal car loans and business vehicle finance products are not subject to change, some elements and benefits can. Interest rates are definitely subject to change as we’ve seen quite dramatically over the past few years. Policy announcements may provide rebates and concessions for say electric vehicle buyers and tax benefits for business buyers. Price changes may affect the finance amount required. Changes in credit scores can affect the interest rate offered on car loans. When planning ahead, keeping abreast of these announcements might be extremely useful in achieving cheaper car loans. ## Reserve Bank Rate Decisions Interest rates are key to affordability, repayments and the overall cost of car loans. The [Reserve Bank of Australia (RBA)](https://www.rba.gov.au/ "Reserve Bank of Australia") makes decisions on interest rates, or more specifically, the official Australian cash rate, at its monthly board meetings. While lenders determine their own interest rates, RBA rate decisions do tend to impact a large part of the lending sector. The dates to earmark in regard to future rate decisions are the first Tuesdays in each month, except for January. It is expected that more rate rises will occur in 2023. Applying for car loans and making those purchases prior to any increases, may result in a better interest rate. ## Inflation Data The RBA has been lifting the cash rate to address the soaring inflation rate in Australia. Following what is happening with the data may provide a level of understanding and insight into what might follow in regard to interest rates. The [Australian Bureau of Statistics (ABS)](https://www.abs.gov.au/ "Australian Bureau of Statistics") releases the inflation data via posts on ots website. The data has recently been released on a monthly basis but the quarterly figures can be more meaningful as they capture more statistics. The December Quarter CPI figures are due for release on 25 January 2023. ## State and Federal Budgets The Federal Budget for the next financial year is delivered by the Treasurer in May each year. Policies and announcements in the budget usually need to be passed by legislation and often have a lagged timeframe. Some initiatives may come into effect from 1 July while others may be at a later dat. The significance for car loans could be in regard to any changes to personal income tax and to initiatives for businesses. Decisions which may offer some people an increased take home income which may influence car purchases with finance. State budgets are also worth staying across, especially for those planning to purchase a green car. Incentives, concessions and rebates may be on the cards in 2023 for EV buyers. These will be state-based decisions so buyers will need to check what may be available in their specific state or territory. Any cash rebate on a purchase can reduce the amount required for the car loan. ## NSW State Election The NSW State Election will be held on 25 March and similar to the comments re budgets, there could new initiatives for car buyers in policy announcements. NSW did have special offers for EV buyers in 2022 – keep an eye out for what could be available following the election. Business owners may also benefit from state election outcomes in regard to new work opportunities and/or reduced taxes and other charges. Outcomes which could mean increased income or reduced costs which may affect how a business structures their vehicle finance. ## IAWO Deadline The big date for business vehicle buyers to circle is 30 June as the end to Instant Asset Write-off for the time being. The offer of this temporary tax measure expires on that date but vehicles need to be operating in the business before the date. Speak with us about [car loans for sole traders](/car-chattel-mortgage "What Is Car Chattel Mortgage - Jade Car Loans") to finance the vehicle purchase. ## Tax Time End of the Financial Year For some taxpayers this time of year can mean a tax refund. Those with existing car loans may choose to use these funds as additional payments on their [Secured Car Loan](/secured-car-loans "Secured Car Finance - Jade Car Loans"). Extra payments are permitted on this type of finance and allows the loan to be finalised earlier than expected. Minimal payout figures can apply. New car buyers may use tax refunds as a deposit on a new vehicle to reduce the amount required for their loan. Jade Car Loans does offer no deposit finance where the entire price is included in the loan amount, subject to lender approval. But when a down payment is made, the loan amount is reduced which means – lower monthly repayments. To work out which way you may like to go – deposit or no deposit, use the [Commercial Car Loan Calculator](/car-finance-calculator "Car Loan Calculator, Car Repayment Calculator | JADE") and vary the loan amount. When using a finance calculator some way ahead of loan application and purchase, be mindful that interest rates could change as could the price of new vehicles. ## Credit Score The personal credit score and overall credit profile forms an integral part of the loan application assessment process. The better the score, generally, the cheaper the car loan interest rate offered. Take the time to do an annual credit score check and fix any errors. Keeping a credit profile in a good place consistently may be extremely beneficial when it comes to applying for car loans. ## Vehicle Price Increases Finally, a key outcome to watch this year will be the prices of new motor vehicles, including those under [tesla financing](/tesla-finance "Tesla Auto Loan Solutions"). Due to global inflation, shipping costs, and other issues in manufacturing, many new models are sporting price hikes. This will certainly impact how much is required for car loans and can affect the preferred loan term to achieve the target repayment figure. There is quite a lot to follow in 2023 when it comes to finance and loans. Stay in touch here for updates as we post new articles regularly on key events that may impact car finance. **Contact Jade Car Loans at 1300 000 003 for quotes on personal car loans and business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Rethinking car loans to offset interest rate rises](https://www.jadecarloans.com.au/blog/rethinking-car-loans-to-offset-interest-rate-rises) **Published:** February 22, 2023 **Author:** Publisher **Content:** The February announcement by the Reserve Bank of a further 0.25% lift in the official cash rate was likely met with disappointment by some buyers planning to purchase new vehicles with finance. The indication by the Bank that even more rises are to be expected may have added to that dismay. While we focus on achieving the cheapest interest rates on car loans at all times and for all customers, [RBA](https://www.rba.gov.au/ "Reserve Bank of Australia") decisions can have repercussions in motor vehicle finance rates. But don’t completely cancel purchase plans before a) thinking through the options and b) speaking with us. Rethinking the way car loans are sourced and structured may be an effective approach to offsetting possible higher interest rates following RBA decisions. This approach may also be used to address increases in new model prices which are being seen with some brands. We share our thoughts on rethinking to set buyers on the path to cheaper and more affordable car loans. ## Use a Specialist Car Loans Broker Interest rates vary across the motor vehicle finance market. Buyers intent on getting the cheapest rate will need to cover a lot of ground in order to attain sufficient quotes to be confident they have the cheapest. Lenders will advertise their cheapest rate and by using that rate with a calculator, repayment estimates can be obtained. But these are only estimates. To get a confirmed quote and know exactly what interest rate will be offered for an individual’s purchase, contact will need to be made with the lender. This is not only a time-consuming process, it can also have a negative effect on the individual’s credit score. Rethink the source of finance and swap out applying to multiple lenders for our broker-style lending services. We have access to more than 60 lenders to quickly source the cheapest loan offer for individual customers. We have that access to bring the lenders to you – saving you time and not impacting the credit score. Once we pinpoint the most suitable car loans product and lender, we use our negotiating power to get the cheapest rates and process the application and assist with settlement. ## Review Credit Profile Rethink number two is to consider your own situation. The best interest rates displayed by lenders are for new cars and for applicants that have a good credit profile and rating in a good band. If you’re not sure of your current credit rating, simply request a free copy as outlined by [Moneysmart](https://moneysmart.gov.au/ "Explore Smart Money Management") and see if there are any issues which can fixed. Fixing issues and maintaining a good repayment history on bills and other debts may improve the score and the prospects for a better interest rate. ## Rethinking No Deposit Car Loans No deposit car loans provide a valuable option for those who want to preserve their existing funds for other purposes. We offer this option to many customers across our diverse loan portfolio, allowing them to finance the entire purchase price of the car. In some cases, accessories and extras can also be included. However, while this can be convenient, it increases the total amount borrowed compared to making a deposit to the seller. As [Car Loan Interest Rates](/car-finance-interest-rates "Understanding Car Loan Interest Rates") rise, the overall repayments increase proportionally. If affordability is a priority in your car loan, reducing the loan amount by paying a deposit can help achieve lower repayments and offset the effect of interest rate increases. ## Reevaluate Car Price – Loan Amount Opting for a lower-priced car doesn’t necessarily mean settling for a used model. Keep in mind that interest rates can vary for new and used vehicles, with used vehicle rates potentially being higher. Be sure to factor this in when making your decision, and utilise tools such as the [Car Loan Calculator for Business use](/car-lease "Estimate Your Car Lease Payments with Our Calculator") to help with your financial planning. ## Explore Different Car Loan Terms Opting for a lower-priced car doesn’t necessarily mean settling for a used model. Keep in mind that interest rates can vary for new and used vehicles, with used vehicle rates potentially being higher. Be sure to factor this in when making your decision, and utilize tools such as the Car Lease Calculator to help with your financial planning. Additionally, explore options like [Novated Car Leasing](/novated-car-leasing-and-salary-sacrificing "Answering Your Novated Car Leasing Questions") to better understand alternative financing solutions. ## Utilize Planning Tools and Resources To facilitate the reevaluation process, take advantage of our free resources, such as our interest rate comparison table and our Personal Car Loan Calculator. Adjusting the values input for loan amount and term demonstrates how repayment amounts change. By taking steps to offset rising interest rates, you can still achieve affordable car loans and maintain manageable repayments. Consider [Business Vehicle Loans](https://www.jadecarloans.com.au/business-car-finance.php "Comprehensive Guide to Business Vehicle Loan Products"), [Zero Interest Car Finance](/zero-interest-car-loans "Demystifying 0% Interest Car Finance Terms and Conditions"), or exploring Unsecured Car Finance Calculators to find the best option for you. **Speak with Jade Car Loans 1300 000 003 to discuss how we can assist you offset rate rises and achieve cheaper car loans.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Compare vehicle finance rates on best-selling work vehicles and corporate cars](https://www.jadecarloans.com.au/blog/compare-vehicle-finance-rates-on-best-selling-work-vehicles-and-corporate-cars) **Published:** February 22, 2023 **Author:** Publisher **Content:** ## Time to Buy New Business Vehicles? Comparing Vehicle Finance Rates and Tax Benefits With the release of January’s top-selling vehicles, the possibility of more rate rises and the approaching cut-off for temporary full expensing now could be the ideal time to buy new business vehicles. This an opportune time to compare vehicle finance rates and tax benefits on vehicles for use in a business. A range of vehicle types is purchased by businesses including cab chassis utes, medium to large plus SUVs, medium and large passenger cars for reps and luxury models for corporate executives. If the vehicle purchase meets ATO criteria as an eligible business asset, then it would be eligible for business vehicle finance. The motor vehicle finance market is extensive, making comparisons of interest rates a time-consuming proposition. To easily compare vehicle finance rates and products for over 60 lenders on best-selling utes, vans, SUVs and company cars, buyers can contact Jade Car Loans. We have accreditation with all the leading lenders and save buyers the time and hassle of covering the market themselves. ## Best Selling Work Horses to Check Out For those across the Ranger-HiLux rivalry or just a motoring enthusiast that likes to know which models are popular with buyers, you’ll already know that Ranger topped the models list for January. Hilux was second. But also in the top 10 were a number of other vehicles suited to business purposes. The [Tesla Model 3](https://www.tesla.com/en_au "Tesla Model 3"), third best seller for January, may be an ideal executive vehicle while the Isuzu D-Max in seventh is another ute to include on the test-drive list. Breaking the ute sales into 4x4s under $100k and 4x2s, the top 3 were Ranger, HiLux, D-Max and HiLux, Ranger, D-Max, respectively. Looking at over the $100k price tag, the top 3 best sellers were Ram Trucks 1500, Chevrolet Silverado 1500 and Chevrolet HD. Operators looking to upgrade their van make like to consider, under 2.5t – VW Caddy, Peugeot Partner or Renault Kangoo. In the 2.5 to 3.5t category, HiAce, Staria Load and Ford Transit Custom were the three top sellers. SUVs have become the go-to vehicles for both private and business buyers. They can make great vehicles for reps, replacing the traditional station wagon. The range of models on the market is extensive. We’ve honed in on the medium and large categories as especially suited for business purposes. January’s top three best sellers:- - Medium SUVs under $60k – Mazda CX-5, Toyota RAV4, Mitsubishi Outlander - Medium SUVs over $50k – Tesla Model Y, BMW X3, Mercedes Benz GLC - Large SUVs under $70K – Ford Everest, Toyota Prado, Kia Sorento - Large SUVs over $70k – Mercedes GLE, BMW X5, Audi Q7 For operators in rural areas, in agricultural and building sectors, the Upper Large SUVs under $120K may be of interest. The best sellers were LandCruiser, Patrol and Land Rover Discovery. ## Best Selling Corporate-Style Passenger Cars The trend in recent years has been for SUVs over traditional passenger car body types. But the January sales figures showed an uptick in this category. Passenger cars are still a vehicle of choice for business executives. Best-selling models to consider include:- - Medium sized: Tesla Model 3, Mercedes C Class, Polestar 2 - Large cars under $70k: [Kia Stinger](https://www.kia.com/au/cars/stinger/features.html "Large Sports Sedan | Kia Australia"), Skoda Superb, Citroen CS X - Large cars over $70K: Audi E-tron GT, BMW 5 Series, Mercedes-Benz EQE. - Upper large category under $100k: Chrysler 300 - Upper large cars over $100k: BMW 7 Series/i7, [Mercedes-Benz S-Class](https://www.mercedes-benz.com.au "The S-Class"), Porsche Panamera This category of vehicle may also be suitable for executives looking to reduce taxable income through an arrangement with their employer to provide a car for which they sacrifice salary. Speak with us about to compare vehicle finance for Novated Lease with Salary Sacrificing. ## Compare Vehicle Finance The same business vehicle finance products are available for various types of vehicles, including utes, vans, SUVs, passenger cars, and EVs. These finance options encompass: 1. Vehicle Leasing 2. Chattel Mortgage 3. Commercial Hire Purchase 4. Novated Car Lease with Salary Sacrificing When comparing vehicle finance options in terms of suitability for a business, it is essential to consider factors such as accounting methods, tax approaches, balance sheet strategies, and other accounting measures. In terms of tax deductions, all business finance products provide tax-deductible elements. For Leasing, the monthly lease payment is deemed a business expense and is fully deductible. In the case of Chattel Mortgage, the interest is deductible, and the vehicle can be depreciated as a tax deduction following the ATO rulings. Until 30 June 2023, eligible businesses may utilise temporary full expensing to realise tax benefits on depreciable eligible assets, such as motor vehicles. ## Comparing Vehicle Finance Rates At Jade Car Loans, we take the hassle out of comparing rates for our customers by working hard to secure the cheapest rates applicable for the business applicant. With the RBA Board’s remarks suggesting that lending rates may increase in the coming months due to further cash rate hikes, it’s crucial to act promptly when making vehicle purchases. Whether you’re looking for [used car finance Brisbane](/used-car-finance "Used Vehicle Financing Options in Brisbane"), a [car loan for business](/business-car-finance "Car Loans for Business: How to Finance Your Company Vehicles") purposes, a [personal loan on a car](/personal-car-finance "Personal Loans for Your Vehicle"), or simply want to utilise a [car business loan calculator](/car-finance-calculator "Car Finance Payment Calculator: Estimate Your Monthly Payments") payment tool, we’re here to assist you. Reach out to us to discuss securing the most affordable finance at the best possible rates for your vehicle purchase, and we’ll guide you through the process while keeping your financial objectives in mind. **Contact Jade Car Loans 1300 000 003 for compare vehicle finance for new business utes, vans, SUVs and passenger cars.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA Meeting Minutes – what they reveal about inflation, interest rates](https://www.jadecarloans.com.au/blog/rba-meeting-minutes-what-they-reveal-about-inflation-interest-rates) **Published:** February 22, 2023 **Author:** Publisher **Content:** ## RBA’s February Board Meeting: Insights from the Minutes on Interest Rates The Reserve Bank of Australia (RBA) met earlier this month to make its decision on the cash rate. A decision that was announced via the usual, rather brief statement. This statement outlines the Board’s overview of the key impacts on the economy and their general reasons for the interest rates decision made at that meeting. While the rating announcement can provide insights, reading the minutes of each meeting can be more illuminating. The minutes of each RBA Board meeting are released a few weeks after the meeting. The document reveals some details which are not contained in the statement announcing the monthly rate decision. Nothing untoward here, the rate decision statement is intended as a brief announcement document. Buyers planning new vehicle purchases with finance and wondering what will happen with interest rates may benefit from reading the minutes from the RBA meetings. Business owners may also benefit from the Board’s discussions around the impacts on and the outlook for the economy. The minutes of the RBA’s February Board meeting were released on 21 February and we offer a summary of some of the specific points of note to those interested in interest rates. Most significantly what other options apart from the 0.25% increase announced, were considered? ## Overview – February RBA Meeting Minutes If you’re looking for certainty around the economy, inflation or interest rates, you probably need to look elsewhere than these minutes. The reference to ‘uncertainty’ was prevalent throughout the [minutes of the February RBA Board meeting](https://www.rba.gov.au/monetary-policy/rba-board-minutes/2023/2023-02-07.html "7 February 2023 | Minutes of the Monetary Policy Meeting of the Board | RBA"). Uncertainties exist in relation to the global economy, growth in the Australian economy and in the forecast fall in inflation. All issues which affect the Board’s cash rate decisions. The decision for February was to increase the cash rate by 0.25%. For those that follow RBA announcements or our articles closely, you would have read that minutes of the December Board revealed the Board considered a number of options. These were to raise the cash rate by 0.5%, by 0.25% and to leave the rate unchanged. The news that the no-change option was at least discussed, may have given reason for optimism moving forward. Unfortunately, at the February meeting, the no-change option was not discussed. The minutes reveal that when all the factors were considered, it was agreed that another rate increase was warranted. The two options discussed were 0.5% and 0.25%. ## RBA’s Interest Rate Decision The arguments in favour of the higher interest rates rise emanated from data on wages and prices exceeding expectations and that there was a risk of the high inflation rate persisting. If this eventuated, rises in unemployment and higher rates would be significant costs to bear at a later time. The arguments in favour of the final decision, the 0.25%, included that inflation looked like it had peaked. While uncertainties were identified with the outlook, it was that demand was softening and headline inflation, as different from underlying inflation was lower than had been expected. There were credible scenarios that demand was actually weaker than what was expected. The Board concluded that the arguments for 0.25% were stronger than those for a 0.5% increase. An interesting point is that the output and inflation forecasts were prepared based on the technical assumption of a 3.75% cash rate. Members agreed, as was reported in the announcement statement, that more interest rate rises were likely to be required. ## Factors to Determine Future Interest Rate Decisions How far will rates rise? The minutes report that the RBA will be evaluating global economic developments, spending trends, unemployment, labour costs and how businesses set prices when making future decisions. The expectation is for inflation to fall. But there is also a risk it could continue at high levels. Also mentioned was that Australia’s cash rate was below the rates of a number of comparable economies. The uncertainty around inflation was noted regarding whether the December quarter figure was the peak or not. This would not be known for sure for a few more months. And yes, the fall in inflation was noted as subject to uncertainties. The next meeting of the RBA Board to decide on the cash rate is scheduled for Tuesday 7 March. The minutes of that meeting are due on 21 March. ## Significance for Motor Vehicle Finance The key takeaway from recent developments is that interest rates are likely to continue rising. In contrast to the December meeting, the February Board meeting did not seem to consider maintaining current rates, possibly indicating that only increases are on the agenda at this stage. However, uncertainties remain. These uncertainties could potentially affect the decisions in the coming months. If they play out positively rather than negatively, there may be hope for a hold on interest rates. It is essential to remember that these cash rate fluctuations directly impact motor vehicle finance lending rates, making it crucial for buyers to stay informed and adapt accordingly. Buyers are encouraged to speak with us about securing more affordable rates on various types of car loans, such as [low doc car finance](/low-docs-car-loans-for-business-vehicles "Flexible Vehicle Loan Options with Minimal Documentation"), [Tesla car loans](/tesla-finance "Financing Your Dream Tesla in Australia"), [car loans with bad credit history](/car-finance-bad-credit "Bad Credit Car Loans: Financing Options in Australia"), and more. As a reputable car finance broker, we are well-versed in the intricacies of the market and can provide valuable insights and recommendations tailored to each client’s unique financial situation. ## Navigating the Lending Market In the face of potential interest rate hikes, it is more important than ever for buyers to explore their options and stay proactive in their search for the best financing deals. By partnering with a trusted provider like us, buyers can navigate the complexities of the lending market and ensure they are well-equipped to make informed decisions that align with their financial goals. Whether a buyer is in the market for a new car, looking to refinance their current car loan, or seeking a specific vehicle finance solution such as a Tesla car loan, staying up-to-date with the latest market trends and leveraging the expertise of a professional [car finance broker](/about-us "The Benefits of Working with a Car Financing Broker") will help them secure the most competitive rates and achieve greater financial success in the long run. **Contact Jade Car Loans at 1300 000 003 for cheaper interest rates on motor vehicle finance before further rate increases are announced.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [In the market for a new car? Car of the Year winners to consider](https://www.jadecarloans.com.au/blog/in-the-market-for-a-new-car-car-of-the-year-winners-to-consider) **Published:** February 27, 2023 **Author:** Publisher **Content:** ## Drive’s Car of the Year Awards 2023: A Guide for Buyers Buyers in the market for a new car are presented with many choices in the vast Australian motor vehicle market. While supply issues have been an issue over the past few years, they appear to be easing, making availability less of a deciding factor for buyers. But buyers may still be unsure of which is the best vehicle for their purposes. To assist new vehicle buyers, the experts at Drive conduct their annual Car of the Year awards and the 2023 program is now underway. This program has been running for 17 years and is renowned as one of the most authoritative awards programs for consumers. The final stages of the judging is being undertaken and winners are announced over a few weeks. Some winners have already been decided but the finale – the overall Car of the Year for 2023 will be announced later in March. We cover off on what these prestigious awards are all about, the announcement so far and what finance options buyers can consider to purchase a finalist or a winner with the cheapest car loan. ## Car of the Year Awards The team at the [Drive Car of the Year Awards](https://www.drive.com.au/drive-car-of-the-year/2023/ "2023 Drive Car of the Year Featured Awards") is continually updating the program to reflect the market. But they still adhere to their same strict judging procedures. For 2023, there are 19 categories and reflecting market trends, the EV categories have been expanded from two to three with another for hybrid medium sized SUVs. This special category reflects the growing popularity of the medium SUV. With many buyers considering the move to an EV or some type of ‘green car’, the experts comments around why they made their choices could be extremely helpful. While new categories have been added for this year, a number of others have been retired. There are 11 motoring experts on the judging panel with very impressive experience in the motor vehicle industry. The judging process covers a year of testing the more than 500 vehicles which are launched into the Australian market in the previous calendar year. From this massive field, judges decide on the finalists and eventually the winners for each category. The criteria for any awards program is very important for buyers to appreciate. With Car of the Year, the criteria include being a completely new model or seriously update. The model must also get a good rating when tested and reviewed. Then it comes down to the final evaluation of the finalists. A process which is undertaken in great depth with static inspections, drive loops, braking, special tests and many other testing procedures. Judges assess finalists based on safety, affordability, efficiency, driveability, tech and practicality. The issues that most buyers are looking for in a new car. ## First Category Winners Revealed The category winners already announced include:- - Off-Road Dual Cab Ute: Winner is the [Ford Ranger Raptor](https://www.ford.com.au/showroom/trucks-and-vans/ranger-raptor/ "The 2022 Next-Generation Ranger Raptor | Ford Australia") with Toyota’s Rogue HiLux second and the SL Warrior from the Nissan Navara line-up a finalist. This is a very popular vehicle and buyers can read why judges came to their decision. - Medium Hybrid SUV: The Mitsubishi Outlander was declared the winner with the RAV4 from Toyota second and finalists – Ford Escape ad Haval H6. - Small SUV: Nissan’s Qashqai is the winner with Toyota’s Corolla Cross the runner-up and finalists – Skoda Kamiq and Honda HR-V. - Medium SUV: The Nissan X-Trail was decided as the winner Kia’s Sportage the runner-up ahead of finalist, VW Tiguan Allspace. - Large SUV: The Toyota Kluger takes the honours in this category, ahead of runner-up Nissan Pathfinder and the finalists, Ford’s Everest and the Sante Fe from Hyundai. - Small Passenger Car: Winner is VW Golf, the Peugeot 308 ahead of the three finalists – Toyota Corolla, Honda Civic and Skoda Fabia. We’ll reveal more categories in our coming blogs along with the latest car sales data. In the meantime, buyers may like to start thinking finance and talking to us about cheaper interest rate motor vehicle finance. ## Financing a Car of the Year Affordability is a crucial factor when evaluating the finalists for the Car of the Year award. The affordability aspect of a winning car can be enhanced by securing cheap car loans in Australia through Jade Car Loans, especially when considering [business car finance r](/car-finance-interest-rates "Competitive Rates for Business Vehicle Finance")[ates](https://www.jadecarloans.com.au/car-finance-interest-rates.php "Competitive Rates for Business Vehicle Finance"). For many buyers, affordability implies a low monthly car finance repayment, while others focus on the overall total cost of the finance. To achieve the best results, the goal is to find the cheapest car loan interest rate. The motor vehicle lending market is vast, and sourcing the most affordable loans can be simplified, expedited, and made more reliable by using our broker-style lending services. We offer access to over 60 lenders, enabling buyers to make just one call to compare a wide range of [cheap car loans Australia](/why-jade-car-loans "How to Get a Low-Cost Car finance in Australia"), including [business car loans with poor credit](/no-credit-car-loans "How to Get a Car Loan with Poor Credit"), options on [how to refinance a car loan](/car-refinancing "How to Save Money by Refinancing Your Car Financing"), and [car personal loan](/personal-car-finance "Auto Financing for Personal Use in Australia") products. Our full portfolio of motor vehicle finance products is available for both private and business buyers, catering to a diverse range of buyer types and financial situations. **Speak with Jade Car Loans 1300 000 003 for finance quotes on your preferred finalists or winning Car of the Year.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Inflation rate falls but still high. What latest figures may mean for car loan interest rates](https://www.jadecarloans.com.au/blog/inflation-rate-falls-but-still-high-what-latest-figures-may-mean-for-car-loan-interest-rates) **Published:** March 1, 2023 **Author:** Publisher **Content:** ## The Link Between Inflation and Interest Rates: Implications for Car Loan Interest Rates After nine consecutive rate rises by the Reserve Bank of Australia (RBA) most Australians will by now fully appreciate that the rate of inflation is inextricably linked to interest rates. The RBA has been increasing rates to address soaring inflation. When the RBA increases rates, the impact is felt through most lending markets including car loan interest rates. Buyers in the market for a new vehicle with finance will likely be keen to stay across what is happening with inflation as a possible indication of what could follow regarding interest rates. The latest inflation figures – the Consumer Price Index (CPI) for January, were released by the [Australian Bureau of Statistics](http://www.abs.gov.au "Australian Bureau of Statistics") (ABS) on 1 March and it may appear good news. A fall in the rate of inflation from 8.4% recorded at the end of December has been recorded to the end of January. The rate to the end of January was 7.4%. But there are calls for caution from Treasurer Jim Chalmers in interpreting the figures. ## ABS Report – CPI January 2023 The [ABS](https://www.abs.gov.au/ "Australian Bureau of Statistics") reported the CPI indicator, the figure used for inflation was 7.4% to the end of January 2023. This is down from 8.4% to the end of December. However, as noted by the Head of Price Statistics for the ABS, Michelle Marquardt, this is still the second-largest annual increase since the monthly reporting of the CPI commenced in September 2018. According to Ms Marquardt, this indicates that inflation is continuing at high levels. The major contributors in the reporting period were, in order of significance – housing, food and non-alcoholic beverages and recreational and cultural. The housing increase of 9.8% was less than the 10.1% recorded for December. The most notable contributors are rents and new dwellings. Ms Marquardt notes stronger growth in rents than 12 months ago but increases in new dwellings are moderating in comparison to a year ago. In the food area, the 8.2% figure for January is below the 9.5% December figure. Fruit and veg prices fell 2.3% in the reporting period. Holiday travel and accommodation continue to push prices in the recreation and culture category. But the 17.8% January figure is significantly less than the extremely high 29.3% December result. As Ms Marquardt noted, the rate of CPI inflation can be impacted by volatility in the prices of some goods, such as fruit and vegetables, fuel and the prices for holiday airfares and accommodation. She said it can be helpful, for some items to be excluded from what is referred to as ‘headline inflation’ to reveal what is known as ‘underlying inflation’. Those that follow the RBA monthly statements will have noted the Board’s references to underlying inflation. Underlying inflation for January was 6.7% after holiday travel was excluded. The rate was 7.4% at the end of December. ## Treasurer Jim Chalmers’s Comments On the release of the latest inflation figures, the Treasurer advised caution in interpreting the outcome. He said that while the rate was higher than the government would like, they were hopeful that inflation had peaked. The caution advised is around the volatility which can exist in individual monthly figures. Treasurer Chalmers said that although inflation appears to have peaked, a rate is likely to be around for longer, but the January results are encouraging. In commenting on the inflation figures, the Treasurer also commented on the latest economic growth figures which were also released by the ABS on 1 March. The figures reveal a moderation in growth with growth in the December quarter of 0.5%. The Treasurer said this was inevitable due to the global situation of high inflation increasing interest rates and unpredictability. ## Significance of Car Loan Interest Rates The latest inflation figures and the latest GDP data will be assessed by the RBA Board in making its March rate decision. At its February meeting, the RBA stated that further rate rises would be required in the months ahead. This was despite acknowledging that inflation had likely peaked as per the December 2022 figures. All eyes will be on the 7 March meeting for the Board’s next decision. Will it leave rates unchanged as was ‘on the table’ back in December, or continue with its run of rises? Despite a drop, inflation remains high with continued budget pressure and continued focus for car buyers to source the cheapest car loan interest rates, whether it’s through [car finance chattel mortgage](/car-chattel-mortgage "Vehicle financing through a chattel mortgage, using your car as collateral"), [hire purchase car finance](/commercial-hire-purchase "Auto loan options through a hire purchase agreement") or [unsecured car finance](/unsecured-personal-loans "Car financing options without the need for collateral"). Achieving the cheapest rates means lower monthly repayments and less pressure on the household budget or business cash flow. Banks and lenders make their own decisions regarding changing their rates in their different markets following RBA rate decisions. This means variations across the market and potentially a more time-consuming task for buyers to source which lender is offering the cheapest rate at the time, especially when considering options like [no Doc Car Financing Australia](/no-docs-car-loans-for-business-vehicles "Document-Free Car Finance Down Under"). We have accreditation with more than 60 car finance lenders and assist both business and private buyers in securing the cheapest car loan interest rates and most affordable finance. ## Navigating Used Car Finance Rates Amid Inflation and Interest Rate Fluctuations Amid the impact of inflation and interest rates on the car loan market, [used car finance rates](/used-car-finance "Interest rates for financing a pre-owned vehicle") are similarly affected. Buyers seeking financing for pre-owned vehicles should closely monitor fluctuations to secure the most affordable deals. By turning to trusted lenders like Jade, which adjust their rates in response to economic factors, prospective buyers can find the most competitive financing options. Choosing Jade for their financing needs allows borrowers to enjoy more manageable monthly payments and reduced financial strain, ensuring a smoother car ownership experience. **Contact Jade Car Loans 1300 000 003 for cheaper car loan interest rates.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA March interest rates rise – impacts for motor vehicle finance rates](https://www.jadecarloans.com.au/blog/rba-march-interest-rates-rise-impacts-for-motor-vehicle-finance-rates) **Published:** March 7, 2023 **Author:** Publisher **Content:** ## Reserve Bank of Australia Lifts Interest Rates for 10th Consecutive Time, Jade Offers Competitive Rates Despite Increases As was expected, the Board of the Reserve Bank of Australia (RBA) lifted the cash rate at its 7 March meeting by a further 0.25%. This is now 10 rate increases in a row and takes the cash rate to 3.6%, the highest level for interest rates in 11 years. In announcing the rate rise, the Board reaffirmed its determination in returning the current high rate of inflation at 7.4% back to the target of 2-3%. The Board also repeated previous comments about further increases being needed to achieve this objective and ensure that this current high inflation period is temporary. For buyers planning new car purchases with motor vehicle finance, the expectation is for interest rates in general to increase. Banks and non-bank lenders typically increase their own rates following these announcements. But the amount and timing of such increases and in which particular loan markets, does vary. The latest RBA interest rates rise further underscores the value of using the services of Jade to source the cheapest loans from more than 60 lenders. While further rises, or at least possibly one more, look imminent, there are some positive indications noted by the RBA Board which may indicate an easing in rate hikes in coming months. This was included in comments by the RBA Governor Philip Lowe in a keynote address delivered to the AFR Business Summit the day after the rate announcement. In that speech, Dr Lowe said that the Board was closer to when it would be appropriate to pause increases and that the Board had discussed the possibility of holding rates at a future meeting. Reviewing the RBA’s monthly statement and Dr Lowe’s speech provides information and insights into the rationale behind the monthly decision and the Board’s outlook. ## RBA Board March Statement The key points in the [RBA Board media release](https://www.rba.gov.au/media-releases/2023/mr-23-07.html "Statement by Philip Lowe, Governor: Monetary Policy Decision | Media Releases | RBA") of 7 March include:- - Increase of 0.25% to the cash rate. Increased to 3.6%. - Global inflation moderating but remains extremely high. - Global economic outlook subdued. - As indicated by the [CPI](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release "Consumer Price Index, Australia, December Quarter 2022 | Australian Bureau of Statistics"), inflation appears to have peaked domestically and is goods prices are expected to moderate in coming months. This is seen as due to softer domestic demand and developments globally. - Services inflation is high due to strong demand in some areas over summer. Rents especially. - Forecast is for inflation to decline in 2023 and reach around 3% by mid-2025. - Growth expected to be below trend over coming years. - Softening in housing construction but business investment outlook positive. - Labour market tightness continuing with unemployment near a 50 year low. Increase in unemployment in January partly reflecting seasonal trends. - Pick-up in wages growth but a lower risk of prices-wages spiral occurring. But the Board remains alert to the possibility of such a spiral and continues to pay attention closely to how labour costs and business price setting evolves. - Full effect of recent interest rates increases still to be felt in regard to mortgages. - Uncertainty around the extent and the timing of spending slowdown and the response to rapid rate rises globally on the global economy. - Priority of the Board remains to return inflation to the 2-3% target. - Further tightening of monetary policy (interest rates rises) is expected to be needed. ## Dr Lowe Speech – Key Points Dr Lowe delivered a speech on 8 March which elaborated on many of the points discussed at the Board meeting. The full speech may be of interest and can be read at the [RBA website](https://www.rba.gov.au/speeches/2023/sp-gov-2023-03-08.html "Inflation and Recent Economic Data | Speeches | RBA"). Some of the relevant points in regard to interest rates include:- - Number one challenge for Australia is to ensure current high inflation is temporary. If high inflation persists, higher interest rates and higher unemployment would be required. - RBA will do what is required to ensure high inflation rate does not become entrenched. Interest rates is the tool RBA has to do this. - High rate of inflation a legacy of pandemic and invasion of Ukraine. A positive legacy of these is the improvement in employment. - Inflation expected to fall in 2023 and 2024 but uncertainty around the specific path. - Board managing dual risks in making monthly decision – not doing sufficient and moving too fast. - At 7 March meeting, Board discuss that rates were now in ‘restrictive territory’. Closer now to where it would be appropriate to pause increases in rates to allow for time to assess the economy’s situation. That ‘point’ will be determined by data and assessing the outlook. ## Impacts for Motor Vehicle Finance Interest Rates While a pause in rates may be in the sights of the RBA Board, the March increase will potentially result in interest rate rises in most, if not all, lending markets, including motor vehicle finance. As mentioned above, lenders make their individual decisions on these matters, and that creates variation in car financing interest rates across the sector. This can also affect [car loans for ABN holders](/abn-car-loan "Car financing options specifically designed for ABN holders"), so it’s important to research and compare rates from different lenders to find the best option for your business. We assist buyers in sourcing the cheapest rates currently available with loans best suited to their requirements. We achieve this through our industry-level contacts and accreditations with multiple lenders. Saving buyers valuable time and hassle in securing [Cheap Business Car Finance](/business-car-finance "Affordable commercial car loan"). In addition, we may assist customers to offset rate rises by strategically structuring finance to achieve target repayments and/or optimise tax benefits for business buyers. ## Impact of Reserve Bank of Australia Interest Rate Increases on Motor Vehicle Finance The potential increase in interest rates resulting from the RBA’s March decision may also impact the availability and rates of [secured loans against cars](/secured-car-loans "Obtaining secured financing using your car as collateral"). Lenders may adjust their rates and lending criteria, so it’s important to stay informed and compare options to find the best deal. At Jade, we have accreditations with over 60 lenders and can assist buyers in securing the cheapest loans best suited to their needs, including secured loans against car. We can also help structure finance to offset rate rises and optimize tax benefits for business buyers. **Contact Jade Car Loans 1300 000 003 for cheaper interest rates on motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Latest best selling cars revealed](https://www.jadecarloans.com.au/blog/latest-best-selling-cars-revealed) **Published:** March 9, 2023 **Author:** Publisher **Content:** ## February 2023’s Best Selling Cars: Ranger and Model 3 Lead the Pack The Federal Chamber of Automotive Industries (FCAI) has revealed the best selling cars for February 2023 with the stand-outs being Ranger ahead of Hilux again and Tesla Model 3 the third best selling model for the month. Sales of EVs continued to grow and the overall sales results were the best result for the month of February since 2019. But while stock issues appeared to be easing in some of the previous month reports, it has been reported that many of the February sales were to wait-list, pre-order customers. In addition, Drive has reported issues with unloading of new vehicles on the docks which are also delaying deliveries. All the downside to the side, for buyers in the market for new vehicles and for motoring aficionados, checking out the monthly sales results and reviewing which brands and models were the best sellers is always popular. Also extremely popular with buyers is securing cheaper motor vehicle finance, often aided by tools like a [business car finance calculator](/car-finance-calculator "Car Loan Calculation Tool for Businesses"). We report on the latest best-selling cars and how to achieve cheaper car loans despite the 10th consecutive RBA rate rise. ## FCAI Report – VFACTS for February 2023 The [FCAI](https://www.fcai.com.au/ "Representing the Australian Auto Industry | Federal Chamber of Automotive Industries") reported the VFACTS for February with sales up 1.8% on February 2022. Given the constraints on supply at both a global and local level, the Chief Executive of the FCAI, Tony Weber said it was a pleasing result. Mr Weber said the growth of battery EVs, 6.8% of the monthly total sales for the month, proved that buyers will purchase when a battery EV product is offered to suit their needs, finances and habits. The total of both low and zero emission vehicles accounted for 13.9% of total monthly sales. China was the third highest origin country for vehicles sold in February with Japan remaining the number one source country, Thailand in second place and Korea fourth. Passenger car sales were down on January figures while sales of SUVs and light commercials showed small increases over the previous month. ## Best Selling Cars – Models and Top Brands For buyers, the real interest is in the brands and models that are selling best. This may indicate buyer appeal and popularity. Or under the current market supply conditions, especially with options like[ new business vehicle finance](/new-car-finance "Financing Options for Your New Business Fleet"), it could be an indication of the arrival of shipments and delivery to buyers that have been waiting for some time. Toyota has pretty much always reigned supreme as the top selling brand. February 2023 was no different with the brand outselling all others. However, with a 31.4% downturn in sales on a year-on-year (YOY) basis. Mazda came in second also with a slight decrease, followed by Ford with a 30.6% increase YOY. Kia was up slightly on the YOY basis to take fourth spot followed by Hyundai and then Mitsubishi. The remainder of the top 10 was made up by, in order, MG, Subaru, Tesla and Isuzu. Now for those all-important top 10 best selling cars models. As mentioned at the outset it was the Ford Ranger taking top spot ahead of Toyota’s HiLux and then Tesla’s Model 3. The Mazda CX5 and Mitsubishi Outlander rounded out the top 5. The remaining top sellers in the top 10 were the RAV4 from Toyota, the [MG ZS](https://mgmotor.com.au/models/mg-zs/ "MG ZS | MG Motor Australia"), Isuzu’s D-Max, [Subaru Forester](https://www.subaru.com.au/forester "Subaru Forester | Subaru Australia") up an impressive 35.9% YOY and the budget-friendly priced MG 3. Plenty of intel for buyers to peruse and consider and start contacting dealers for information on delivery timing. Where stock is available, arranging finance before the test-drive may be an ace card in securing the vehicle of choice. Prospective buyers, including those considering [car lease finance](/car-lease "Financing options for leasing a car"), can use our car finance calculator to compare monthly repayment estimates on advertised prices of vehicles of interest as a starting point. ## Achieving Cost-effective Finance for Best-Selling Cars Buyers of new vehicles have faced ongoing challenges over recent years with long-wait times for delivery, limited stock and now pest issues delaying unloading shipments and rising interest rates. We fully appreciate the frustration and assist buyers from the finance side with cheaper [low business car loan interest rates](/car-finance-interest-rates "Vehicle financing options with low interest rates"). As has been widely reported, the [RBA](https://www.rba.gov.au/ "Reserve Bank of Australia") increased interest rates again at its March Board meeting. This decision will, like the previous nine increases, have an impact on motor vehicle finance rates. Business buyers, including those seeking [no deposit car loans](/no-deposit-car-finance "Car financing options with no down payment required"), are reminded of the deadline for temporary full expensing – 30 June 2023. Vehicles must be acquired and working in the business by that date to be eligible under ATO criteria. A business car chattel mortgage is the most appropriate form of business finance to suit optimizing the tax benefits from this measure. In future posts, we’ll delve into the best-selling cars in different categories to provide even greater insights into the current market. **Buyers seeking to purchase one of the latest best selling cars can contact Jade Car Loans 1300 000 003 for personal car loans and business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Considering the move to electric? Car of Year Winners – Best EVs](https://www.jadecarloans.com.au/blog/considering-the-move-to-electric-car-of-year-winners-best-evs) **Published:** March 20, 2023 **Author:** Publisher **Content:** ## Choosing the Best EV: Insights from Drive’s 2023 Car of the Year Awards Winners The sales of electric vehicles (EVs) are on an upward trajectory as more buyers make the switch and more manufacturers introduced new models into the Australian market. The challenge to boost sales may be changing from overcoming the buying deterrents of infrastructure, charging time, range and price to which are the best EVs on the market. For first-time EV buyers it can present a very significant decision to make the switch. Unlike when purchasing some goods, when buying a new car, the ‘return within 30 days if not completely satisfied’, doesn’t really apply. You could hire an EV for a period to see how it works for your lifestyle, but that is an added expense. Reading reviews is a good way to get opinions and views on different models. The team at Drive assist buyers with their annual Car of the Year Awards which now include 3 categories for best EVs as well as separate hybrid categories. The 2023 awards winners have just been announced and we report on the winners in the EV categories to assist buyers with their purchase decisions. ## Best EVs by Price Range The 3 categories of EVs in the Drive awards program are defined by pricing – under $70k, $70k to $120K and above $120k. The full detail of the awards program including the criteria and how judging is conducted can be found on [the Drive website](https://www.drive.com.au/drive-car-of-the-year/2023/ "2023 - Drive"). Worth checking out as the criteria for awards programs really puts the final decisions into perspective. In the Under $70k price category the winner was revealed as the BYD Atto 3. BYD, a Chinese brand, will be relatively new to Australian buyers. But in the announcing the Atto 3 as the winner in this category, the judges point out the vehicle is a worthy winner. The drive away pricing is quoted from around the $50,600 mark. The runner-up is the MG ZS, which has appeared regularly in the top selling cars data as released by the FCAI. The finalist, or third place went to the Nissan Leaf e+. For those that already know of the Leaf, this e+ model has extended range – worth noting. Stepping up in price, in the $70k to $120k category and the Drive team note that this is a very important category in their annual awards as it is currently the biggest selling EV segment. The winner of this very popular category for buyers is the [Kia EV 6](https://www.kia.com/au/cars/ev6/features.html "Kia EV6 | Electric Crossover SUV | Kia Australia"). Runner up is, by just one point, the Tesla Model Y. Then came Hyundai Ioniq 5, Volvo C40 and Genesis GV 60. Plenty for buyers to consider and earmark for test drives. Now to the higher priced category, EVs over $120k. Probably not in everyone’s budget range but as noted by the Drive team, this is the area where the manufacturers of EVs get to have ‘the most fun’. By that they mean with the tech and other features and providing a forward view of the future for these types of vehicles. So which brands had the ‘most fun’ and got the nod from the judges? Possibly not surprising that all 3 come from German manufacturers, known for luxury, high tech vehicles. The winner is the BMW i7, runner up the Porsche Taycan and finalist is the Mercedes-AMG EGS53. For buyers, the prices of these best EVs range from around the $50k mark right up and over $200k-$300k. Price can be just one side of the buying story. Finance is what can make prices affordable. To put the quoted prices in perspective, prospective buyers can use our Car Financing Calculator. You never know, our cheaper interest rates may make the pricing even more affordable. For more information on electric vehicles, you can also check out [EV Central](http://evcentral.com.au), a website dedicated to providing news, reviews, and information about EVs in Australia ## Best Finance for Best EVs There is no getting away from the reality that electric vehicles are higher priced than their petrol equivalents. But the benefits offered by EVs need to be taken into account along with the affordability of the finance. Buyers considering one of the best EVs on the market as judged by experts may offset pricing concerns with an [electric car loan](/tesla-finance "Affordable Electric Vehicle Financing") from Jade Car Loans. The same finance products and interest rates for purchasing petrol and diesel vehicles are available for EVs. For private buyers, Secured Car Loans are most widely-used for new vehicles. For business buyers, the selection includes Leasing, Chattel Mortgage and Rent to Own. Despite the run of 10 interest rate increases by the RBA, we are continuing to achieve cheaper interest rates across our motor vehicle finance portfolio. ## Using Rebates to Make Payments on Your Secured Car Loan To further offset the cost of the purchase, buyers, including those seeking classic car finance or the [lowest business car finance](/business-car-finance "Lock in the Lowest Business Vehicle Finance Rates"), can also check if any subsidies or rebates are available at the time of purchase. These have been available through state government initiatives at various times but often restricted to limited numbers and a limited timeframe. State governments are due to bring down their annual budgets around May each year. These types of initiatives are usually included in State Budgets. Keep an eye out. If a private buyer claims such a rebate post-purchase, they may use this to make additional payments on their secured car financing. Business buyers can also offset the overall cost with the tax benefits of acquiring new vehicles for the business. The tax benefits available vary with the business finance product selected. Currently, temporary full expensing is the big one that many businesses are taking advantage of. But it only has a few months to run. Buyers will want to secure their vehicle and their [sole trader car financing](/car-chattel-mortgage "Using your car as collateral for a loan") to meet the 30 June deadline. In our series of articles on the Car of the Year awards, we still have a few more to cover. So stay tuned. **Contact Jade Car Loans at 1300 000 003 for cheaper finance to purchase one of the best EVs on the market.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Latest data reveals top 3 best selling cars by category](https://www.jadecarloans.com.au/blog/latest-data-reveals-top-3-best-selling-cars-by-category) **Published:** March 20, 2023 **Author:** Publisher **Content:** ## February 2023 Best Selling Cars This time of year can be a popular buying time for buying new cars. Upcoming Easter road trips, getting in before further interest rates rises and for businesses, getting in before temporary full expensing expires at the end of June just some of the reasons. Greater availability may also be incentivising buyers. Efforts to purchase new cars have been somewhat stymied by supply issues over the past few years. These do appear to be easing so now could be time to buy. What which car will it be? To help buyers with selections, the [FCAI](http://www.fcai.com.au "Representing the Australian Auto Industry | Federal Chamber of Automotive Industries") report the vehicle sales results on a monthly basis. We recently reported on their data on the best selling cars for February but only covered the top 10 brands and models. The available data does go further. Now we delve deeper into the individual categories with the three top sellers. Information which may assist buyers in forming ideas as to what to consider. But when reviewing car sales data for a single month at the moment be aware that many of these vehicles were for pre-orders. Buyers will need to confirm availability with dealers. Where stock is limited, speak with us first to pre-arrange your car finance so you are completely ready to buy. Price will be an important guide for many buyers. With the use of the Jade Car Financing Calculator, prospective buyers can quickly convert prices of best selling cars into estimated finance repayments. Repayment estimates can often be far easier to relate to than a drive away price. Buyers can have a better idea of how a loan for that car may work with their monthly outgoings. ## Best Selling Passenger Cars – February Passenger cars have been less popular with the recent trend towards SUVs. But there remain extensive selections across all sizes and price ranges. In the Micro segment, the Kia Picanto, Fiat and Abarth and the Mitsubishi Mirage sold best. Though there have been reports that the last of the Mirage has left the market. In the light segment, the well-priced MG 3 was by far the best seller, ahead of the very popular Mazda 2 and Kia Rio in the under $30K price bracket. Over $30K, it was the Mini Hatch, Audi A1 and Skoda Fabia attracting the most buyers. Then comes the very popular small under $40k segment. The Hyundai i30 outsold the iconic Corolla ahead of the Mazda 3. Edging up over the $40k price and it was the Subaru WRX, Audi A3 and VW Golf filling the sales podium. Medium-sized passenger cars can be well-suited for reps and business executives as well as for the family workhorse. For under the $60k price, buyers found the Camry, Skoda Octavia and Mazda 6 their choices. While over $60k the [Tesla Model 3](https://www.tesla.com/en_au "Tesla Model 3 - Luxury Electric Vehicle (EV) | Tesla Australia") attracted a lot of buyers, followed by the Mercedes C Class and the fairly new to the Australian market, Polestar 2. Sales in the large passenger class are reported for price categories under and over $70k. The Kia Stinger was the best seller in the former followed by the Skoda Superb and the Citroen CX5. In the higher priced category, the Porsche Taycan sold most units ahead of two Audis – the E-tron GT and the A6. ## Best Selling SUVs – February SUVs are by far the most type of vehicle and that is reflected in the sales numbers. The segment covers light, small, medium, large and upper large with prices ranging from below $45k to in excess of $120K. In February, in the light and small categories, the most buyers got the keys to Mazda CX3, Toyota Yaris Cross, Kia Stonic, MG ZS, Mitsubishi Eclipse Cross, Haval Jolion, Volvo XC40, Audi Q3 and Kia Niro. If considering an under $60K model, the Mazda CX5 sold the most units, slightly ahead of the Mitsubishi Outlander and Toyota RAV4. In the over $60k segment the top sales were from the [Tesla Model Y](https://www.tesla.com/en_au/modely "Tesla Model Y: Electric Crossover SUV | Tesla Australia"), Audi Q5 and Lexus NX. The biggest sales for large SUVs below $70k were for the Subaru Outback, Isuzu MUX and Toyota Prado. Over the $70k, the best sellers were Mercedes GLE, BMW X5 and Audi Q7. The upper large are the serious off-road and similar vehicles with the LandCruiser, Nissan Patron, Land Rover Discover, Lexus LX, BMW X7 and Mercedes GLS dominating sales. ## Best Selling Utes – February The ute segment is massive as it attracts both private buyers wanting a vehicle to tow boats and caravans as well as trades and other businesses. The HiLux sold most in the 4×2 category ahead of the Ranger and D-Max. In the 4×4 segment it was the Ranger in top spot, then HiLux and D-Max. If you’re looking to buy one of the best selling cars or utes of February 2023, especially with options like [minimal doc business car loan](/low-docs-car-loans-for-business-vehicles "Low Documentation Business Auto Loan"), be sure to consider your financing options carefully. At Jade Car Loans, we offer a range of personal and business car finance solutions to suit your needs and budget. Our team of experienced finance brokers at Jade can help you secure the best interest rate and repayment terms for your vehicle loan, whether you’re buying a passenger car, SUV or ute. ## Make Car Financing Easy with Jade’s Online Loan Calculator At Jade, we pride ourselves on providing fast, efficient, and personalized service to all our customers, including those seeking [car loans for poor credit](/car-finance-bad-credit "Auto financing for individuals with less-than-perfect credit"). We understand that obtaining [new car finance](/new-car-finance "Financing options for a brand new car") can often be a daunting task, particularly for individuals with a less than ideal credit history. With this in mind, we strive to simplify the financing process, ensuring that it’s both effortless and uncomplicated, irrespective of your credit score. Regardless of whether you’re a private buyer or a business owner, we are committed to assisting you in finding the most appropriate car finance option that caters to your specific requirements. So if you’re ready to buy one of the best selling cars or utes of February 2023, contact Jade today to discuss your [personal loan for car](/personal-car-finance "Obtaining a personal loan to finance a car"). Our friendly and knowledgeable team is here to help you every step of the way, and we’ll work hard to get you the best deal on your vehicle finance. Using our [business car loan repayment calculator](/car-finance-calculator "Obtaining a personal loan to finance a car"), you can quickly estimate your repayments based on the purchase price and loan term. This can give you a better idea of the affordability of your chosen vehicle, and help you to make an informed decision about your car finance. **Buyers seeking to purchase one of the latest best selling cars can contact Jade Car Loans 1300 000 003 for personal car loans and business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Drive’s Car of the Year is a first | Cheap Car Loans](https://www.jadecarloans.com.au/blog/drives-car-of-the-year-is-a-first-in-more-ways-than-winner) **Published:** March 27, 2023 **Author:** Publisher **Content:** ## Best Car of the Year We’ve been covering the Car of the Year awards from the experts at [Drive](https://www.drive.com.au/drive-car-of-the-year/ "Drive Car of the Year New Car Awards - Drive") as the finalists and winners in the 22 categories have been announced over recent weeks. There are a number of car awards programs both internationally and in Australia, but the Drive program is highly regarded and respected. The judges’ decisions, especially the comments as to why each vehicle was selected, can be useful for buyers. After teasing out the winners of different categories each week, the team have reached the finale. It’s drum roll time as the overall winner of the 2023 awards is announced. And the winner is a first on more than just being the numero uno best car of 2023, as judged by the Drive experts. The Best Car of the Year for 2023 in the Drive awards program is the Ford Ranger. The first time that a light commercial or a dual cab ute has received this esteemed honour. Worth also noting that in the February car sales data, the Ranger topped the list of overall best-selling vehicle for the month. On a roll and worthy of buyer consideration? In addition to covering the judge’s comments on why this vehicle was considered the best in such an illustrious field, we’ll provide the latest on the finance options for Ranger buyers. ## Judging Comments The 4×4 dual cab Ranger was judged Car of the Year by the Drive judging panel, winning out over the 13 vehicles. Winners of 13 categories in the awards program are eligible for consideration for the Car of the Year. In deciding this ultimate award, the judges are seeking the car that has ‘moved the game forward’ for car buyers in Australia the most. The Ranger was considered to have achieved that through the thorough and cohesive approach, advancements in tech and especially how this ute has driving behaviour akin to an SUV. This aspect gained universal praise from the judges. The extensive market appeal of the dual cab is noted in that it is a big favourite with Australian car owners. This category accounts for a large and growing share of the new motor vehicle market. Not that popularity sways the judges. They adhere to strict criteria when making these important winner decisions. But a ute or dual-cab is popular due to its versatility and flexibility. Not just for work or even selected as a work vehicle. These vehicles are great for family vehicles and for buyers wanting a stylish but functional vehicle for weekend adventures. The designs and style advances have been significant in recent years and the Ford Ranger has been judged the best. ## Ford Ranger Details As most buyers are aware, Ford do not manufacture cars in Australia any more. But the [Ranger](https://www.ford.com.au/showroom/trucks-and-vans/ranger/ "Ford Ranger - A Truck For Work and Play | Ford Australia"), which is available in 180+ markets globally, was designed and extensively developed right here by Ford Australia. According to the Drive comments, the vehicle has been developed to suit Australian climate, road conditions and driving situations. The hard work carried out by the Geelong and Melbourne-based engineering and design teams. Testing was also done in Australia. The manufacturer for the Ranger sold in Australia is apparently built in Thailand. Congratulations to the Drive team for their work in delivering this great awards program and providing inspiration for new car buyers. For buyers interested in a Ranger, next comes the challenge of when you may be able to take delivery of your Car of the Year and the less challenging task of securing cost-effective motor vehicle finance. ## Low Doc Ford Ranger Finance for Personal and Business Use Buyers considering the Car of the Year, Ford Ranger, can speak with Jade Car Loans about low doc personal and business car finance. Low doc car loans are suitable for those who have difficulty providing full financial documentation required by many lenders. This option is ideal for those who are self-employed, have seasonal income or have just started a new business. The interest rate is key to affordability with all types of finance. Rates do vary across the motor vehicle finance lending market. The now 10 increases in the cash rate by the RBA has led to increases across all lending markets with variations that mean a cheaper rate can be sourced. As we are accredited with multiple banks and non-bank lenders, we quickly and easily source the cheapest rate loan that matches the requirements of individual customers, including those looking for [abn holder car finance](/abn-car-loan "Business Car Finance for ABN Registered Companies"). Saving time, which can be critical when purchasing vehicles in limited supply, possibly the Ranger. Saving money can mean a lot to a lot of people. For individuals buying a Ford Ranger for private use, [Fast Secured Car Loans](/secured-car-loans "Quick and Secure Auto Financing") is the go-to loan type for most new car buyers. A secured loan where the Ranger would be the security against the funds. Fixed-rate, fixed terms of up to 7 years and fixed repayments. Business owners requiring a Low Doc Ford Ranger loan can speak with our expert team at Jadeworkable finance options. Visit our [Low Doc Car Loans](/low-docs-car-loans-for-business-vehicles "Learn more") for Business Vehicles page for more information. ## Business Car Loan Options For business buyers, the selection includes [sole trader car financing](/car-chattel-mortgage "Learn About Chattel Mortgages for Car Loans"), Leasing and [Car Hire Purchases](/commercial-hire-purchase "CPC Car Financing"). Business operators that are unsure which finance product will best meet their needs should discuss the issue with their accountant. ## No Doc and Low Doc Car Loans New business set-ups may require Low Doc or [No Doc Car Loans](/no-docs-car-loans-for-business-vehicles "No Doc Commercial Car Loans") for Business Vehicles for their Ranger. We handle these special business finance categories and can assist operators with workable options. While time is ticking, it’s not too late for businesses to take advantage of temporary full expensing with their Ford Ranger acquisition. The deadline is 30 June so if you can secure your vehicle we can secure finance quotes. Securing a Ford Ranger may be a major issue as there have been reports of delayed delivery. Pre-ordering could be required. For that purpose, speak with us about pre-approved finance. **Contact Jade Car Loans at 1300 000 003 for cheaper finance to purchase Drive’s Car of the Year – the Ford Ranger.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA to discuss interest rates pause at April meeting](https://www.jadecarloans.com.au/blog/rba-to-discuss-interest-rates-pause-at-april-meeting) **Published:** March 27, 2023 **Author:** Publisher **Content:** [The Reserve Bank of Australia](https://www.rba.gov.au/media-releases/2023/mr-23-07.html "RBA") (RBA) has raised interest rates at each of its 10 last Board meetings. But there was mention of a pause in the Monetary Policy Statement issued with the March cash rate decision. With the release of the minutes of the RBA Board March meeting, it has now been revealed that a pause in interest rates will be discussed at the 4 April meeting. The announcement statement is brief and while providing a certain amount of information, referring to the minutes can be far more enlightening. For motor vehicle buyers planning to take on finance, obtaining the type of information available in the RBA meeting minutes may give indications for interest rates. For business owners, the discussions by the Board regarding the global and Australian economy, productivity and the labour market may also assist with business planning. Jade provides a summary of the key points in the RBA March meeting minutes with a particular focus on the monetary policy (interest rates) discussions. We have specifically highlighted discussions that were not covered in the Monetary Statement and/or were elaborated on. ## RBA March Meeting Minutes – Key Points The minutes are quite a lengthy document and cover a large selection of economic issues. The terminology used can be difficult to interpret. We have extracted a number of the key points about interest rates. - Headline inflation at an international level has peaked while services inflation was still high in some countries. - Unemployment increased in January but the Board noted that it was difficult to assess the underlying labour conditions due to seasonal trends. February figures are expected to provide a better indication of whether or not the January trend was a turning point or a seasonal effect. - Concerns discussed over the productivity growth – no increase in net terms over the previous 3 years. No offset realised to rising costs of labour. - Concerns that issues with productivity could cause inflation to remain at high levels. - Easing of inflation is expected for the March quarter based on January CPI figures. But the month-to-month figures could be volatile. - The expectations of the financial markets for the cash rate had changed – an increase in peak as a result of the RBA February decision. - All of the most significant data that had been released over the previous month – GDP, labour, inflation and wages, was softer than had been expected. The extent that this may be a signal that demand was weaker than had been assumed was discussed. However, there were considerations to suggest not too much emphasis should be placed on the data from one period. - With inflation still too high and with the forecast for it to stay above the 2-3% target for 2 years, the Board agreed that further tightening in monetary policy, i.e. rate rise, was warranted. - When considering the interest rates outlook, the Board observed that more rate rises would likely be needed. - Assessing several issues including inflation forecasts, slow productivity and other indicators it was noted that rates were in restrictive territory with the outlook for the economy uncertain. - These considerations (above) meant that there would be a point where it was appropriate to keep the cash rate on hold, and steady. - The lag between tighter monetary policy taking effect was discussed and it was noted that this effect complicated the process of assessing the economic outlook. - The Board agreed that the upcoming data releases for inflation, employment, business surveys and retail trade would provide significant extra information. - It was agreed to discuss the case for pausing interest rates at the next meeting. That next meeting is on Tuesday 4 April. Those interested in reading the complete transcript of the meeting can access the document at the [RBA](https://www.rba.gov.au/monetary-policy/rba-board-minutes/2023/2023-03-07.html "Reserve Bank of Australia") website. ## Motor Vehicle Finance Interest Rates – Considerations It is worth noting that since the March RBA meeting, the banking issues both in the US and with [Credit Suisse](https://www.credit-suisse.com/au/en.html "Credit Suisse - International Wealth Management") in Europe have emerged and the latest unemployment figures were released. The minutes indicate the Board sees conflicting signs regarding the economy and the issues that are keeping Australia’s inflation rate high. Car loan refinance options could be impacted by these factors. Productivity growth also remains of great concern and if this trend continues so could high inflation. Discover various [business car loan refinancing](/car-refinancing "Explore Your Options for Refinancing Your Car") options here The messaging around rate rises and the forecasts from the financial markets – being the major banks etc, appear to suggest that there could be a pause in April. But that more interest rate rises are also on the horizon. Should the Board decide to keep rates steady in April, that may not mean a complete halt to rises. But it would give buyers more time to secure [Business Car Finance Interest Rates](/car-finance-interest-rates "Obtain Vehicle Financing at Affordable Rates") as the Board’s meeting after 4 April will be in early May. Buyers should be aware of Easter and Anzac Day holidays in April. Events that may cause delays for their purchase plans. If there is a pause in interest rates in April, it may give buyers of used cars more time to secure financing at current rates. Additionally, for business buyers, a pause could provide an opportunity to take advantage of the temporary full expensing by securing a [Used Car Loan](/used-car-finance "Used Vehicle Loans") before the scheme expires at the end of June. It’s important to note that any delays caused by holidays, such as Easter and Anzac Day in April, should be considered when making purchase plans. Speak with us about pre-approved vehicle finance at our current low rates to expedite your purchase process. **For cheaper interest rates on personal and business vehicle finance, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Why is there talk that interest rates will go down this year?](https://www.jadecarloans.com.au/blog/why-is-there-talk-that-interest-rates-will-go-down-this-year) **Published:** April 17, 2023 **Author:** Publisher **Content:** ## Confusion for car buyers as interest rate forecasts fluctuate in Australia Just a week after the Reserve Bank of Australia (RBA) kept interest rates on hold and forecast more rises may be required, there was talk of rates going down this year. The comments reported in a major masthead were made by the Chief Economist of the CommBank. Not surprisingly, the comments made headlines in a number of media outlets. The reports may create confusion for buyers planning the timing of new purchases with car finance. Possibly wondering whether they should rethink those plans. Consider a variable interest rate rather than a fixed interest rate car loan or delay the purchase until interest rates come down. In the same week, a new data set was released which led to more commentary around interest rates. The Australian Bureau of Statistics (ABS) released the March unemployment figures on 13 April. The employment data is a major consideration for the RBA when it comes to rate decisions. We provide a rundown of the latest commentary and the latest statistics to assist buyers better understand the rate situation in regard to car purchases with finance decisions. ## Recent Comments re Interest Rates Comments regarding forecasts and outlooks for interest rates emanating from a range of sources are extremely common and to be expected. The major banks all have their own teams of analysts and economists who study the economic data and trends and prepare forecasts and outlooks for the bank. Other companies and organisations also have economic experts that analyse the numbers and issue their forecasts. These are regularly reported in the media. The recent comments around rates falling this year, as reported in the SMH, quoted CommBank’s Chief Economist as saying that the RBA may have to commence cutting interest rates by the end of this year. The reasoning or outlook supporting this viewpoint was that real incomes would be impacted by high rates of inflation and high interest rates and many Australians would not be in a position to cope with the situation. The resulting scenario being that the RBA would need to support households by cutting rates. An expectation for interest rates was also reported recently from another of the Big 4 banks, the ANZ. That expectation is for rate rise at the RBA’s August meeting. In recent months there has been differing outlooks from the big banks in regard to interest rates decisions. Those planning to take on motor vehicle finance to purchase new vehicles, should note that these are forecasts and outlooks not definite outcomes. As mentioned by the RBA Governor in delivering the April rate decision, the [RBA](http://www.rba.gov.au "Reserve Bank of Australia") Board considers all the available data when making its decisions. Key data includes the latest unemployment figures which were released on 13 April and the inflation figures which are due out on 26 April. ## Impact of Latest Unemployment Figures The [latest unemployment figures released by the ABS](https://www.abs.gov.au/media-centre/media-releases/unemployment-rate-remains-35-march "Unemployment rate remains at 3.5% in March") on 13 April show unemployment remaining steady at 3.5%. This indicates the tightness persisting in the labour market and an outcome which some economists see as counter-indicative to interest rates being cut. Remarks have been reported that the outcome may place pressure on the Board of the RBA to announce another rate rise in May. As reported by Ms Lauren Ford, the Head of Labour Statistics at the ABS, the unemployment rate of 3.5% is the lowest for nearly 50 years. The participation rate remained at 66.7%. Ms Ford said this reflects the tight market for labour and the reason why many employers continue to face difficulties in filling job vacancies. There had been an expectation expressed by some analysts that unemployment would increase slightly. This continuation of the near-historic low is seen as a possible reason for the RBA to announce another rate increase. ## Car Loan Interest Rates So what does all this mean for car loan interest rates, especially for those considering a [hire purchase car](/commercial-hire-purchase "Purchase a Car through Hire Agreement")? Banks and lenders will set their rates in their different lending markets based on their own outlooks and the decisions from the RBA. Forecasts, outlooks, and commentary will always be made and reported. Whether an individual lender acts ahead of RBA decisions based on its own forecasts is at their discretion. This variation in outlooks and forecasts may create even more variations in rates across certain lending markets. Making the process of finding the cheapest rate at a certain time, even more time-consuming and challenging for car buyers. It also further highlights the benefits of using a specialist broker to source motor vehicle finance. Despite forecasts on interest rate cuts and rises from various sources, car buyers can continue to source cheaper rates on car loans from Jade Car Loans. For those seeking further direction and indications, the minutes of the RBA Board’s April meeting will be released on 18 April. The Board’s next meeting to make a decision on interest rates is 2 May. If you have more questions about car loan interest rates, check out the [Business Car Loan Interest Rates](/car-finance-interest-rates "Find the Best Car Finance Calculator for ABN Car Loans") and learn more about how to find the best car loan calculator for ABN car loans by visiting the [Best Commercial Car Loan Calculator](/abn-car-loan "Find the Best Car Finance Calculator for ABN Car Loans") page. Additionally, you can explore [No Doc Car Financing](/no-docs-car-loans-for-business-vehicles "Understanding No Docs Car Financing for Business Vehicles") FAQs for more information on car loans for business vehicles. **Contact Jade Car Loans 1300 000 003 for cheaper interest rates on motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Growing pains? Best Selling Family Cars for the shopping list](https://www.jadecarloans.com.au/blog/growing-pains-best-selling-family-cars-for-the-shopping-list) **Published:** April 17, 2023 **Author:** Publisher **Content:** ## Choosing the Best Family Car: Considerations and Financing Options Returned from a school holiday road trip and realise your car is no longer fit for purpose? Growing family or family is growing up and even short trips have become a squeeze in your current ride. Maybe it’s the growing interests and growing collection of sports gear causing a space issues. Whatever the growing pains, perhaps it’s time for a new car. Checking out the best selling family cars can be a great starting point. There will be many buying considerations – size, style, functionality, safety and of course price. Or more specifically in many instances, the cost of the finance. With cost of living pressures impacting most families, sourcing affordable finance for the new family car will likely be critical to the entire purchase. We can assist with the finance side and the monthly car sales data may assist with vehicle selection. The latest motor vehicle sales results as issued by the [Federal Chamber of Automotive Industries](http://www.fcai.com.au "FCAI") provide information on which brands and models sold the most units in a particular month. While supply constraints need to be taken into consideration, the information can provide insights into new models to consider. ## March Top Sellers to Consider The two big trends coming out of the March vehicle sales data are:- no passenger cars in the top 10 models as buyers continue their penchant for SUVs; and the growing sales in battery-electric vehicles. Battery-electric are starting to out-sell hybrids and with the costs of fuel an issue for many households, could be worth considering. All that running the family to/from school and to sport and after-school activities can result in some pretty hefty fuel bills. Family cars in the top 10 sellers for March include the Outlander from Mitsubishi, Tesla Model Y, the CX-5 from Mazda, [Subaru Forester](https://www.subaru.com.au/ "Subaru Australia: New Cars, Used Cars, Hybrid SUV, Dealers, Car Service, Test Drives | Subaru Australia"), Toyota RAV4 and MG ZS. All SUVs SUVs can be a great choice for family cars. Offering space and functionality but with great driveability features and many packed with the latest safety features. The monthly sales data is broken down into sub-categories including medium and large SUVs. The top selling medium SUV below the $60,000 price were the Outlander, CX-5 and the Forester. Above that price point are the Tesla Model Y, Audi Q5 and Lexus NX. In the larger SUV categories buyers the top sellers include the Isuzu MU-X, Kia Sorrento, Subaru Outback, BMW X5, Mercedes GLE and the Land Rover Defender. Utes or double cab chassis vehicles are another possible option. They great for towing the boat or caravan and/or providing cargo space for bikes and all that other gear that a growing family accumulates. For families that are after a double-duty work-and-play vehicle, the top selling utes were HiLux, Ranger, D-Max and MU-X. Passenger sedan style vehicles are still available, despite the market showing a preference for SUVs and utes. The top 3 best selling medium-sized passenger cars below $60,000 were the Toyota Camry, Mazda 6 and Skoda Octavia. Above $60,000 the top 3 for March were the Tesla Model 3, BMW 3 and Mercedes C-Class. Moving up to larger passenger vehicles with an under $70,000 price tag, the top 3 sellers were the Kia Stinger, Skoda Superb, and Citroen C5X. If the family is growing in significant numbers, a people mover could be the right transport solution. The top sellers in this category were the Kia Carnival and Hyundai Staria. That should provide buyers with plenty of suggestions to get the process underway. When reviewing individual vehicles online, use our [Secured Car Finance](/secured-car-loans "Calculate Your Secured Car Loans with Ease") Calculator to convert driveaway and advertised prices to rough repayment estimates. The calculator is a great tool for narrowing a wish list down to possibilities, where finance is a key deciding factor. ## Finance for Family Cars Two key issues for families are saving time and saving money. Both aspects where we assist when a family requires finance to purchase a new car. We fully understand the time constraints on most families. We save you time by quickly sourcing the cheapest car loan from across multiple lenders. Inflationary pressures are making a lot of people look more closely at the dollars for every purchase. By sourcing the cheapest interest rates, we save our customers in interest payments. If your family is facing growing pains and needing a new vehicle, Jade Car Loans may assist with sourcing cheaper finance on all types of family cars, including options like [low doc car loans](/low-docs-car-loans-for-business-vehicles "Hassle-Free Car Loans with Minimal Docs"). Our broker-style lender services are not restricted to businesses or buyers of high-priced, luxury motor vehicles. We work to assist individuals and families to source the cheapest finance on all types of motor vehicles, new and used. Finance options are the same for all types of new family cars purchased for private use. The [Business Car loan](/business-car-finance "Simplifying Business Car Finance Solutions") will suit most new vehicles and most buyers. We arrange this loan with a fixed interest rate and over a fixed term so the monthly repayments are fixed. Allowing our customers to work that new car purchase into their budget over the full term of the finance. Resolve those growing pains with a new family car and affordable motor vehicle finance from Jade. Whether you need [Easy Classic Car Finance](/classic-car-loans "Effortless Classic Car Financing Options") or Personal Bad Credit Car Loan Options, we have you covered. **For cheaper interest rates on finance on family cars, contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Decisions and outcomes that could affect car loans in 2023](https://www.jadecarloans.com.au/blog/decisions-and-outcomes-that-could-affect-car-loans-in-2023-2) **Published:** April 17, 2023 **Author:** Publisher **Content:** ## Government Decisions and Events to Consider for New Car Loans in 2023 Following key government decisions and outcomes of certain events this year may assist new vehicle buyers with planning and budgeting for new car loans in 2023. While the range and standard format of personal car loans and business vehicle finance products are not subject to change, some elements and benefits can. Interest rates are definitely subject to change as we’ve seen quite dramatically over the past few years. Policy announcements may provide rebates and concessions for say electric vehicle buyers and tax benefits for business buyers. Price changes may affect the finance amount required. Changes in credit scores can affect the interest rate offered on car loans. When planning ahead, keeping abreast of these announcements might be extremely useful in achieving cheaper car loans. ## Reserve Bank Rate Decisions Interest rates are key to affordability, repayments and the overall cost of car loans. [The Reserve Bank of Australia](http://www.rba.gov.au "The RBA") makes decisions on interest rates, or more specifically, the official Australian cash rate, at its monthly board meetings. While lenders determine their own interest rates, RBA rate decisions do tend to impact a large part of the lending sector. The dates to earmark in regard to future rate decisions are the first Tuesdays in each month, except for January. It is expected that more rate rises will occur in 2023. Applying for car loans and making those purchases prior to any increases, may result in a better interest rate. ## Inflation Data The RBA has been lifting the cash rate to address the soaring inflation rate in Australia. Following what is happening with the data may provide a level of understanding and insight into what might follow in regard to interest rates. [The Australian Bureau of Statistics](http://www.abs.gov.au "ABS") releases the inflation data via posts on ots website. The data has recently been released on a monthly basis but the quarterly figures can be more meaningful as they capture more statistics. The December Quarter CPI figures are due for release on 25 January 2023. ## State and Federal Budgets The Federal Budget for the next financial year is delivered by the Treasurer in May each year. Policies and announcements in the budget usually need to be passed by legislation and often have a lagged timeframe. Some initiatives may come into effect from 1 July while others may be at a later dat. The significance for car loans could be in regard to any changes to personal income tax and to initiatives for businesses. Decisions which may offer some people an increased take home income which may influence car purchases with finance. State budgets are also worth staying across, especially for those planning to purchase a green car. Incentives, concessions and rebates may be on the cards in 2023 for EV buyers. These will be state-based decisions so buyers will need to check what may be available in their specific state or territory. Any cash rebate on a purchase can reduce the amount required for the car loan. ## NSW State Election The NSW State Election will be held on 25 March and similar to the comments re budgets, there could new initiatives for car buyers in policy announcements. NSW did have special offers for EV buyers in 2022 – keep an eye out for what could be available following the election. Business owners may also benefit from state election outcomes in regard to new work opportunities and/or reduced taxes and other charges. Outcomes which could mean increased income or reduced costs which may affect how a business structures their vehicle finance. ## IAWO Deadline The big date for business vehicle buyers to circle is 30 June as the end to Instant Asset Write-off for the time being. The offer of this temporary tax measure expires on that date but vehicles need to be operating in the business before the date. Speak with us about Chattel Mortgage Vehicle Finance to finance the vehicle purchase. ## Tax Time End of the Financial Year For some taxpayers this time of year can mean a tax refund. Those with existing car loans may choose to use these funds as additional payments on their Secured Car Loan. Extra payments are permitted on this type of finance and allows the loan to be finalised earlier than expected. Minimal payout figures can apply. New car buyers may use tax refunds as a deposit on a new vehicle to reduce the amount required for their loan. To work out which way you may like to go – deposit or no deposit, visit [Compare New Car Finance With Jade](/new-car-finance "Get the Best New Vechile Loan Deals with Jade"). ## Credit Score The personal credit score and overall credit profile forms an integral part of the loan application assessment process. The better the score, generally, the cheaper the car loan interest rate offered. Take the time to do an annual credit score check and fix any errors. Keeping a credit profile in a good place consistently may be extremely beneficial when it comes to applying for car loans. Estimate your car loan repayments with our [Car Loan Repayment Calculator](/car-finance-calculator "Estimate Your Car Finance Repayments with Our Calculator"). ## Vehicle Price Increases Finally, a key outcome to watch this year will be the prices of new motor vehicles. Due to global inflation, shipping costs and other issues in manufacturing, many new models are sporting price hikes. This will certainly impact how much is required for car loans and can effect the preferred loan term to achieve the target repayment figure. Stay informed by comparing [Low Docs Car Loans](/low-docs-car-loans-for-business-vehicles "Comparing Low Docs Car Financing for Commercial Vehicles") and experiencing seamless car financing approval with Jade. **Contact Jade Car Loans 1300 000 003 for quotes on personal car loans and business vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA's April Minutes: Interest Rates Decision Insights](https://www.jadecarloans.com.au/blog/rbas-april-minutes-interest-rates-decision-insights) **Published:** April 24, 2023 **Author:** Publisher **Content:** ## More details behind April interest rates decision – RBA minutes The minutes of the meeting of the Reserve Bank of Australia (RBA) Board on 4 April were released on 18 April. The monthly minutes offer greater insight into what was discussed at each Board meeting and why decisions were made. The April minutes reveal more details around the Board’s decision to hold interest rates steady at that meeting. Most significantly, a further increase to the cash rate was discussed in addition to a pause. Board members first discussed the arguments for and against a further 0.25% rate increase. A pause, which was decided, was highly anticipated and expected as was noted by the Board. The Board noting that the expectations of the markets were evenly split – to pause or raise rates. Another significant detail to note in the minutes is the first mention of the role of population growth on inflation. There has been a population rise recently and this was discussed about the impact on inflation. Also causing concern for the Board is larger wage growth figures than expected. To provide car buyers planning purchases with finance greater decision-making support, we cover several key points from the RBA April meeting minutes. Focussing in particular on the discussions relating to monetary policy – interest rates. ## April RBA Meeting Minutes: Key Points - Board members noted that effects of the tighter monetary policy position were flowing through but inflation was still too high. - Discussion was held around the possible impact of the increase in population growth – adding to inflationary pressure, in particular housing. - It was noted that population growth could put pressure on the economy, especially in housing, which could manifest in increased consumer prices. - Higher levels of immigration might ease pressure on wages for industries with labour shortage issues. But the ‘net effect’ of a sudden population growth surge could have inflationary pressure for a time. - Growth in wages is bigger than had been expected and provided a reason for a further rate rise. - The markets appear to expect the cash rate to stay steady for a few months and then be reduced later in the year. It was noted that it was usual for market pricing to reflect negative and positive scenarios. It was roughly even for economists expecting an increase and a pause. - The case to increase rates by 0.25% was discussed. Support for this from the high rate of inflation and tight labour conditions continuing. RBA staff forecasts were for inflation to return to target by mid-2025. - It was noted that it would be inconsistent with the mandate of the RBA Board to tolerate a slower return of inflation to the target level. The forecasts as referred to were based on further tightening. - Imbalances between the supply and demand in both the energy and housing sectors could limit the speed at which inflation falls. - In the circumstances as noted above, it was decided that it was better to proceed with rate rises to ensure inflation returned to target at a faster rate. If an adverse outcome on inflation and the economy is ensured, rates could be eased quickly. - Since the March meeting, the case for a further rate rise was strengthened with the information on the upgrade of population growth projections and the increased risk of bigger increases in wages in some sectors later this year. This included the public sector with state and federal wage increases on the way. - The case for holding rates steady covered:- significant tightening of monetary policy so far; full impact of higher rates to be felt; rates in the restrictive territory; uncertainties around the impact on the economy of rapid rate rises; signs already that higher rates were contributing to slowing consumer demand and other areas. - Pausing rates would allow members to gather further information:- quarterly inflation data; monthly employment figures; consumer spending data; business conditions data; and a full set of updated forecasts to be provided by RBA staff at the May meeting. - The strengths of both cases – rise and pause, were recognised. It was agreed that the stronger case was for a pause. - It was noted that it was considered important that in communicating the Board’s decision, it was made clear that rates would need to be increased in coming months and the pause was to get further information. The RBA Board members discussed various factors affecting the economy, including the effects of tighter monetary policy, population growth and its impact on housing and inflation, wage growth, and potential imbalances between supply and demand in the energy and housing sectors. They acknowledged the case for both a rate rise and a pause, ultimately agreeing that a pause was the stronger option. However, they emphasized the need for further interest rate increases in the coming months. Key to that additional information will be the release of the Quarterly CPI Data – the latest inflation figures on 26 April by the Australian Bureau of Statistics (ABS). ## Impacts on Car Loan Interest Rates For buyers planning new car purchases with motor vehicle finance, note the discussion of a further increase along with a pause and the emphasis on communicating the need for further interest rate rises ahead. The next meeting of the RBA re rate decisions is Tuesday 2 May. Motor vehicle finance lenders may have already factored in their rate forecasts in their current rate offerings, as noted in the meeting minutes. This discussion was of interest in highlighting another reason why rates can vary across the market. The takeaway from RBA April meeting minutes for car buyers is to move on purchases with finance before further increases in interest rates in the coming months. Explore and compare car financing interest options at [Car Loan Business Rates](/car-finance-interest-rates "Explore Compare Car Financing Interest Options"), use the [No Deposit Car Loan](/no-deposit-car-finance "No Deposit Car Finance and Loan Calculator") Calculator for no deposit car finance, discover commercial car loan options at [ABN Car Finance](/abn-car-loan "Discover Commercial Car Loan Options"), and find classic car finance solutions and rates at [Classic Car Finance](/classic-car-loans "Classic Car Finance Solutions and Rates"). **Contact Jade Car Loans at 1300 000 003 for cheaper interest rates on motor vehicle finance.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Higher rates and a no deposit car loan](https://www.jadecarloans.com.au/blog/higher-rates-and-a-no-deposit-car-loan) **Published:** May 1, 2023 **Author:** Publisher **Content:** ## No Deposit Car Loans in a Rising Interest Rate Environment: Is it Still the Best Option? When interest rates were at historic lows, many buyers opted for no deposit car loans, saving available funds for other purposes. However, with interest rates rising significantly and more increases anticipated by the RBA, is a no deposit car loan still the best option? As we focus on achieving the cheapest motor vehicle finance rates, it is essential to note that our lenders respond to [RBA rate decisions](https://www.rba.gov.au/media-releases/2023/mr-23-08.html "Statement by Philip Lowe"). Interest rates across all lending markets have increased significantly over the past 12 months, impacting many people, especially those planning to take on new finance, including car buyers. Jade shares its expertise in explaining the outcomes of interest rates on a no deposit car loan and the options available for buyers to consider. These options may result in achieving a cheaper rate, lower total interest payable, and a lower overall cost for the vehicle being purchased. In the lending context, a no deposit car loan refers to including the full purchase price of the motor vehicle in the total loan amount. Approval of a no deposit car loan depends on the lender approving the total loan amount to the applicant. ## Impact of Interest Rates With the full purchase price of the car included in the loan amount, the loan amount would be greater. The total loan amount, interest rate, and the loan term combine to determine both the monthly repayments and the total cost of the finance. With interest rates increasing significantly since May 2022, this can become a consideration for those seeking to reduce monthly commitments and/or the total cost of the loan and the car. ## Considerations When planning a new car purchase with finance, consider the following points when making that deposit or no deposit decision: The price of new cars has been trending upwards in recent times due to numerous issues. This higher price will require a larger finance amount. Use the trade-in as the ‘deposit’ to reduce the overall cost of the new vehicle and hence the total finance required, without actually making a downpayment. For business vehicle buyers, the no deposit car loan option may offer better tax benefits and ease pressure on cash flow by not having to use existing funds for a deposit. Borrowing the full amount may allow that amount to be fully tax deductible. Speak with the business accountant as to what is the best option for the individual business circumstances. Based on [the latest inflation figures](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release "Consumer Price Index") and RBA comments, further interest rates rises may be expected before rates are held steady. Lender approvals of no deposit loans for new and used vehicles can vary. Tips for Getting Cheaper Interest Rates Reducing the total cost of a no deposit car loan can start with getting a cheaper interest rate. Pre-purchase, buyers can work on improving their credit score and their personal balance sheet. A better credit score and balance sheet may attract a better interest rate, making a no deposit car loan a more achievable option. ## Expert Car Financing Services Use a specialist motor vehicle finance service to source the cheapest interest rate. We have access to over 60 lenders and can quickly source the cheapest rate car loan that matches your requirements. We also handle lender negotiations which may be critical in getting approved for a no deposit car loan. Use our vehicle finance calculator to assist in planning car loans. Changing the total loan amount will show how the repayment estimate varies, helping you decide whether or not a no deposit option is the way you would like to proceed. Explore pre-owned vehicle loan rates at [Used Car Loan Rates](/used-car-finance "Pre-owned Vehicle Loan Rates"), corporate vehicle financing at [Business Car Loan](/business-car-finance "Corporate Vehicle Financing"), individual poor credit auto loan choices at [Personal Poor Credit Car Loan Options](/car-finance-bad-credit "Individual Poor Credit Auto Loan Choices"), and Australian Business Number vehicle financing options at [ABN Car Financing](/abn-car-loan "Australian Business Number Vehicle Financing Options"). ## Navigating Car Financing With careful planning and consideration of your financial situation, you can make an informed decision on whether a no deposit car loan is still the best option for you in the current interest rate climate. By working on improving your credit score and utilizing the services of a specialist motor vehicle finance company like Jade Car Loans, you can potentially secure a better interest rate and make a no deposit car loan a more viable option. It is essential to keep an eye on the market and interest rate trends and be prepared to adapt your car financing strategy accordingly. By staying informed and utilizing the available resources and tools, you can ensure that you make the best decision for your financial situation when purchasing a new or used vehicle. Contact Jade Car Loans 1300 000 003 to discuss the options for a no deposit car loan at cheaper interest rates. DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR. **Categories:** Uncategorised --- ### [Inflation down but some sectors still stubborn – rate decision in the balance](https://www.jadecarloans.com.au/blog/inflation-down-but-some-sectors-still-stubborn-rate-decision-in-the-balance) **Published:** May 1, 2023 **Author:** Publisher **Content:** ## Quarterly Inflation Figures Leave RBA Decision Uncertain In holding interest rates steady in April, the Reserve Bank (RBA) Board made it very clear that the purpose was to gather further information. Key to that information was the quarterly inflation figures. The [Australian Bureau of Statistics has now released that data and the figures](https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/latest-release "Australia Labour Force") throw doubt on which way the RBA will go with its May decision – hold or increase. The ABS releases the CPI data monthly but there can be seasonal factors that contribute to fluctuations in individual months. That was very evident in the effect of high price rises in holiday travel on the December figures. The quarterly figures provide a better overview. From the peak in the December quarter, annual inflation has now fallen to 7% to the end of March. That is down from 7.8% based on the figures available for the month of February. The ABS has released the data for both the month of March and the quarter ending March. Prices did rise for the quarter, by 1.4% which was above most forecasts. But the increase was the smallest rise for a quarter in over a year. While the pace of increases in many sectors has slowed, some areas are still recording high rates. Indicating that inflationary pressures are still strong in the economy. While the 7% will be welcome, it must be noted that the RBA’s target is 2-3%. Inflation is still very high. The data will be considered by the [RBA Board](https://www.rba.gov.au/media-releases/ "Latest Media Releases") when arriving at their monetary policy decision. A decision which will then typically flow through motor vehicle finance lending. ## ABS CPI Report [The ABS](http://www.abs.gov.au "The Australian Bureau of Statistics") monthly figures for March report that the most significant contributors were Housing, Food and Furnishings and household equipment. It was the third month in a row that an easing has been recorded. In relation to the quarterly data, Ms Michelle Marquardt, the Bureau’s head of prices statistics, said that while price rises were recorded for most goods and services, the rises were smaller than in the past quarters. The Quarterly CPI Data reveals:- - CPI increased 1.4% for the March quarter. - Annual rate 7% for March, down from 7.8% for December quarter. - Most significant increases in prices in:- Medical and hospital; Tertiary education; Gas and fuels for households; domestic travel for holidays. - Prices rises moderated for the quarter. Goods inflation has eased but services inflation still high. - Price increases for new dwellings continue to ease due to easing in materials supply. - Rents posted largest increase annually since 2010. Ms Marquardt explained that medical and hospital services prices typically increase in this quarter. Providers review their fees following the reset of the Medicare Safety Net at the beginning of the year. Health insurance premiums from some providers were increased in January. Prices rises in the tertiary education sector were explained by Ms Marquardt as fees were indexed at the beginning of the year. As food prices continued to increase, Ms Marquardt said that the shortage of potatoes as a result of the late 2022 wet weather led to increases prices for potato crisps and frozen products. Weather events also impacted fruit prices. Ms Marquardt highlighted the difference in goods and services inflation. Noting that the annual rate for goods of 7.6% was down on December quarter’s 9.5%. But in the services area, the annual rate of 6.1% is up on December’s 5.5%. ## Vehicle Finance Interest Rates Indications and Implications With the inflation data now released, it’s crucial for new car buyers to carefully consider their finance options and secure the most affordable interest rates for their personal or business vehicle purchases. As the RBA rate decision on 2 May approaches, it is important to keep an eye on the market and its potential impact on car loan interest rates. For those interested in classic car financing, visit [Easy Classic Car Finance](/classic-car-loans "Effortless Vintage Car Financing") for a smooth and straightforward experience. If you’re considering chattel mortgage car finance, explore your options at [car financing for sole traders](/car-chattel-mortgage "Vehicle Chattel Mortgage Financing"). For those looking for secured car loans, you can find collateralized auto loan options at [Secured Car Loans](/secured-car-loans "Collateralised Auto Loans"). And if you need an unsecured car finance calculator to estimate your potential loan repayments, visit [Unsecured Car Finance Calculator](/unsecured-personal-loans "Unsecured Auto Loan Estimator"). By staying informed and utilizing the available resources and tools, you can make the best decision for your financial situation when purchasing a new or used vehicle, including options like [tesla finance](/tesla-finance "Tesla's Financing Solutions"). Navigating the car financing landscape can be challenging, but with the right support and guidance from a specialist motor vehicle finance company like Jade Car Loans, you can secure the best interest rate for your needs and minimize the impact on your budget. **For cheaper car loan interest rates, contact Jade Car Loans 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [What the Recent RBA Rate Rise Means for Car Loans](https://www.jadecarloans.com.au/blog/what-the-recent-rba-rate-rise-means-for-car-loans) **Published:** May 11, 2023 **Author:** Publisher **Content:** Despite a fall to 7% in the March quarter, according to Reserve Bank of Australia (RBA) Governor Philip Lowe, inflation is still too high. This high inflation has led to a further 0.25% rate rise to the official cash rate announced by the RBA at its 2 May Board meeting. This decision holds significant implications for new car loan applications. ## The RBA Rate Rise and Car Loans The recent rate rise by the RBA has pushed the cash rate to an 11-year high of 3.85%. This substantial increase, compared to the historic 0.1% seen in late 2020 and throughout 2021 and early 2022, reflects the RBA’s efforts to combat the current high level of inflation. Governor Lowe emphasizes that it will take time for inflation to return to the RBA’s target range of 2-3%. For car buyers, the consecutive rate rises come at a challenging time when stocks of new vehicles are limited, resulting in long delivery times. While the latest rate rise will impact car loan interest rates, Jade Car Loans remains committed to sourcing better rates with its access to 60+ lenders. ## Governor Lowe’s Statement and Key Points In the [statement announcing the rate rise](https://www.rba.gov.au/media-releases/2023/mr-23-10.html "Communication Regarding Increased Rates"), the RBA Board highlights the importance of returning inflation to the target range within a reasonable timeframe. The expectation is for inflation to reach approximately 4.5% this year and gradually reduce to 3% by 2025. Other key points mentioned in the statement include: - Goods inflation slowing, but services inflation remains high. - Rising labor costs coupled with subdued productivity growth. - Continued tight labor market conditions. - The RBA’s priority is to return inflation to target to avoid higher rates in the future and increases in unemployment. - Wage growth should align with the inflation target, provided there is an increase in productivity growth. - Ongoing high inflation poses risks of further price and wage increases. - The RBA aims to maintain Australia’s economy on an “even keel” but acknowledges the narrow path to a “soft landing.” - Economic growth is expected to be below-trend rates, projected at 1.25% in 2023 and 2% until mid-2025. - The combination of high rates, cost-of-living pressures, and previous declines in house prices is resulting in a slowdown in household spending. - Uncertainties persist regarding household spending and global issues. - Further monetary policy tightening (rate rises) may be required to reduce inflation within a reasonable timeframe, contingent upon evolving economic indicators. ## Implications for Car Loans The recent RBA rate rise will not impact existing car loans with fixed rates. However, it is expected that some motor vehicle lenders may increase their rates following this hike. Notably, existing fixed-rate loans for both personal car loans and business vehicle contracts, including those with [easy abn car finance](/abn-car-loan "Effortless Business Car Finance with ABN"), will remain unchanged. Pre-approved vehicle finance and approved loan applications will also remain valid until the stated expiry date. It is important to note that different lenders respond to RBA decisions with variations in values and timing. Some lenders may have already factored in their own forecasts ahead of the RBA’s decision. Therefore, while some lenders may increase their rates beyond the recent 0.25% rise, others may not raise rates further and instead offer competitive rates. If you are looking for car loans, Jade Car Loans can assist you in finding the best options tailored to your needs. Jade Car Loans specializes in various types of car financing, including Car Loans, No Deposit Car Finance, and Bad Credit Car Loans. Whether you’re purchasing a vehicle for personal use or for your business, Jade Car Loans has the expertise and network to help you secure the most favourable loan terms. To explore the cheapest car loan options following the recent RBA rate rise, contact Jade Car Loans at 1300 000 003. Our team of professionals is ready to guide you through the process, ensuring you receive the best rates and terms available. ## Navigating Car Loan Rates Amidst RBA Rate Rise The recent rate rise by the RBA has implications for car loans, including [business car loans](/business-car-finance "Company Car Financing"), with interest rates expected to increase in some areas of the motor vehicle finance market. However, Jade Car Loans remains committed to finding better rates for its customers through its extensive network of lenders. By understanding the current economic landscape and leveraging expert services, car buyers can secure competitive rates on their car finance needs. Remember to stay informed and seek professional advice when making financial decisions. Jade Car Loans is here to assist you in navigating the car loan market and finding the most suitable and affordable financing options for your needs. Please note that the header tags and SEO optimization have been incorporated throughout the article to enhance its search engine visibility and readability. **Disclaimer** DISCLAIMER: LIABILITY IS NOT ACCEPTED REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED. THE DETAILS AND CONTENT PROVIDED HERE ARE FOR GENERAL INFORMATION PURPOSES ONLY, AIMED AT CAR BUYERS AND INDIVIDUALS AND BUSINESSES SEEKING FINANCE. THIS ARTICLE SHOULD NOT BE THE SOLE SOURCE OF FINANCIAL INFORMATION. IF YOU REQUIRE SPECIFIC FINANCIAL ADVICE, PLEASE SEEK THE GUIDANCE OF A QUALIFIED FINANCIAL ADVISOR. **Categories:** Buying Tips --- ### [Evaluating the Impact of Inflation and Its Influence on the RBA Rate Decision](https://www.jadecarloans.com.au/blog/evaluating-the-impact-of-inflation-and-its-influence-on-the-rba-rate-decision) **Published:** May 12, 2023 **Author:** Publisher **Content:** In holding interest rates steady in April, the Reserve Bank (RBA) Board made it very clear that the purpose was to gather further information. Key to that information was the quarterly inflation figures. The Australian Bureau of Statistics (ABS) has now released that data and figures throw doubt on how the RBA will go with its May decision – hold or increase. The ABS releases the CPI data monthly, but seasonal factors can contribute to fluctuations in individual months. That was very evident in the effect of high price rises in holiday travel on the December figures. The quarterly figures provide a better overview. From the peak in the December quarter, annual inflation has fallen to 7% by the end of March. That is down from 7.8% based on the figures available for February. The ABS has released the data for March and the quarter ending March. Prices did rise for the quarter by 1.4%, which was above most forecasts. But the increase was the smallest rise for a quarter in over a year. While the pace of increases in many sectors has slowed, some areas still record high rates, indicating that the economy’s inflationary pressures are still strong. While the 7% will be welcome, it must be noted that the RBA’s target is 2-3%. Inflation is still very high. The RBA Board will consider the data when arriving at their monetary policy decision—a decision that typically flows through motor vehicle finance lending. ## ABS CPI Report The [ABS monthly figures](http://www.abs.gov.au/ "Monthly Statistical Updates by ABS") for March report that the most significant contributors were Housing, Food and Furnishings, and household equipment. It was the third month in a row that an easing has been recorded. About the quarterly data, Ms Michelle Marquardt, the Bureau’s head of prices statistics, said that while price rises were recorded for most goods and services, the rises were smaller than in the past quarters. The Quarterly CPI Data reveals: – - CPI increased 1.4% for the March quarter. - The annual rate was 7% for March, down from 7.8% for the December quarter. - Most significant price increases in Medical and hospital, Tertiary education; Gas and fuels for households; and domestic travel for holidays. - Price rises moderated for the quarter. Goods inflation has eased, but services inflation is still high. - Price increases for new dwellings continue to ease due to an easing in materials supply. - Rents posted the largest increase annually since 2010. Ms. Marquardt explained that medical and hospital services prices typically increase this quarter. Providers review their fees following the reset of the Medicare Safety Net at the beginning of the year. Health insurance premiums from some providers were increased in January. Price rises in the tertiary education sector were explained by Ms Marquardt as fees were indexed at the beginning of the year. As food prices continued to increase, Ms Marquardt said that the shortage of potatoes due to the late 2022 wet weather increased prices for potato crisps and frozen products. Weather events also impacted fruit prices. Ms. Marquardt highlighted the difference in goods and services inflation. Noting that the annual rate for goods of 7.6% was down on the December quarter’s 9.5%. But in the services area, the annual rate of 6.1% is up on December’s 5.5%. ## Vehicle Finance Interest Rates Indications and Implications With this important inflation data released, attention turns to the RBA’s rate decision on 2 May. While inflation is easing, it is still strong in some areas. According to reports, the market and analyst reactions appear to be divided. Some hold with the forecast for a further 0.25% increase, while others consider the March quarter inflation result will result in another pause. The RBA Governor did indicate further rate increases may be likely. For new car buyers requiring personal car finance, releasing the latest inflation figures can have dual significance. First, in what their household and business budgets may look like in the time ahead. Knowing which areas prices are increasing may provide insights for budgeting on discretionary and non-discretionary purchases. Secondly is the significance of interest rates on personal vehicle finance. Despite easing in the March quarter, inflation is still high, highlighting buyers’ importance in securing cheaper car finance to ease budget pressures. ## Why Use Jade Car Loans Securing a [cheap business car loan interest rate](/personal-car-finance "Affordable Interest Rates for Business Car Loans") on personal or [commercial vehicle financing](/business-car-finance "Commercial Fleet Financing") the monthly loan commitment and the impost on the household budget or business cash flow. While our lenders will respond to RBA rate decisions, we are committed to achieving better rates across our loan portfolio. Simply put, we offer you cheap car loan **interest** rates when most will not. **Contact Jade Car Loans at 1300 000 003 for cheaper car loan interest rates.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT THEY NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [What RBA Rate Rise Means for Car Loans](https://www.jadecarloans.com.au/blog/what-rba-rate-rise-means-for-car-loans) **Published:** May 15, 2023 **Author:** Publisher **Content:** Despite a fall to 7% in the March quarter, according to Reserve Bank of Australia (RBA) Governor Philip Lowe, inflation is still too high. Too high to warrant another pause in interest rates for May. At its 2 May Board meeting, the RBA announced a further 0.25% rise to the official cash rate—a move that will be significant for new car loan applications. The May decision had attracted a lot of attention following the April pause, and the decision came just a week before Treasurer Jim Chalmers brought down the [Federal Budget](https://budget.gov.au/ "Government's Financial Blueprint"). A week before the decision, there were reports that the markets were 50:50 in expecting a pause or an increase. That sentiment appeared to have changed to an almost across-the-board financial markets’ expectation of a pause. So, the rate rise decision is being seen as a surprise. The cash rate has risen to an 11-year high at 3.85%. Significantly higher than the historic 0.1% of late 2020, through 2021, and into the first months of 2022. The RBA continues to use its rate tool to bring inflation down from the current high level. The Governor said it will take quite some time to return to the RBA’s 2-3% target. The run of rate rises could be a double blow for car buyers. This comes at the same time as stocks of new vehicles have been extremely limited and with long delivery times. **The latest rate rise will impact car loan interest rates, but with access to 80+ lenders, Jade Car Loans remains committed to sourcing better rates.** ## Governor Lowe Statement In the [statement](https://www.rba.gov.au/media-releases/2023/mr-23-10.html "Read the RBA Media Release") announcing the rate rise, it is stated that the Board considered the importance of returning the inflation rate to the 2-3% target in a reasonable time as warranting the increase. The expectation is for inflation to be near 4.5% this year and close to the target of 3% in 2025. Other key points in the statement include: – - Goods inflation is slowing, but services inflation is still very high. - Labour costs are rising while productivity growth remains subdued. - Continued tight labour market. - The RBA Board’s priority is to return inflation to target. If high rates become entrenched, it would involve even higher rates later and increases in unemployment. - Given a pick-up in productivity growth, wage growth is consistent with the inflation target. - Alerting the risk posed by the ongoing high inflation rate can contribute to larger rises in prices and wages. - The Board seeks to keep Australia’s economy on an ‘even keel,’ but the path to a ‘soft landing’ is still narrow. - Economic growth is for below-trend rates – 1.25% in 2023 and 2% to mid-2025. - High rates, costs-of-living pressure, and earlier falls in house prices result in a slowdown in household spending. - Uncertainties around household spending and global issues. - Some further monetary policy tightening (rate rises) may be required to reduce inflation in a reasonable timeframe. However, this is dependent on how the economic indicators evolve. In the RBA Dinner speech, Dr. Lowe said it was good news that goods inflation was slowing, but prices in services and energy remained high. While many economists seemed to have taken the latest inflation figures as warranting another rate pause, the increases in areas such as health, education, and hospitality were of greater concern to the RBA Board. This economic landscape can also influence options like [car financing for ABN holders](/abn-car-loan "ABN Registered Business Vehicle Loans"). More details as to why the Board made the rate rise decision will come to light when the meeting minutes are released in about two weeks. The next car loan interest rate decision will be announced on the first Tuesday in June. ## What RBA Rate Rise Means for Car Loans The RBA rate rise will not impact existing car loans with a fixed rate but increases in car loan rates from some motor vehicle lenders may be expected after the increase. - Existing fixed-rate loans will remain with the same rate and repayments. This is for both [personal car loans](/personal-car-finance "Personal Car Financing Plans") and business vehicle contracts. - Pre-approved vehicle finance and approved loan applications with confirmed offers should remain unchanged and valid until the expiry date, as advised. - Applications are currently awaiting approval, and a quote will be priced at current lender rates. Banks, finance companies, and other lenders do respond to these decisions by the RBA, but with variations in values and timing. Therefore, it could be expected that rate increases will be seen in some areas of the motor vehicle finance market. It is not uncommon, however, for lenders to factor their forecasts into their rates ahead of RBA decisions. Those lenders that were expecting this 0.25% increase may not now increase rates further. Those that were expecting a pause or were considering options like [low doc vehicle loans](/low-docs-car-loans-for-business-vehicles "Effortless Low Doc Vehicle Loan Solutions") may have to raise their rates. Variations in car loan interest rates challenge buyers to find the cheapest offers. Jade assists buyers with access to more lenders and the services to source and negotiate the best rates on car finance. **Contact Jade Car Loans at 1300 000 003 to source the cheapest car loans following the latest RBA rate rise.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Buying Tips --- ### [Ranger on Top, EVs Surging - Best-Selling Cars Update](https://www.jadecarloans.com.au/blog/ranger-on-top-evs-surging-best-selling-cars-update) **Published:** May 15, 2023 **Author:** Publisher **Content:** The April report from the Federal Chamber of Automotive Industries (FCAI) on the best-selling cars for the month shows a surge in the sale of electrified vehicles. Tony Weber, CEO of the FCAI, noted that five models in the ten best-selling list offered some form of electrification. Electric models now outsell hybrids, but both are experiencing huge demand, with sales reaching new heights. As there have been for some time, there are reasons behind many of the movements in vehicle sales figures, both overall and within specific types, brands, and even models. In regard to the uptick in EVs, large numbers of Teslas arriving and manufacturing disruption in the hybrid market are reportedly at least part of the story. The monthly top 10 is why many car enthusiasts are interested in the latest data. We can report that Ranger remains on top of HiLux as the best seller overall. But the Ford edged the Toyota out of the top spot by only 41 vehicles last month. A reason for car buyers to take an interest in the monthly sales reports may be to see what vehicles could be available for delivery in a market that has been at the mercy of pandemic and supply issues for several years. While delivery is easing, there are reports of issues in unloading shipments causing major problems. This time of year is an extremely busy car-buying period, especially for business buyers. Operators are keen to secure vehicles with business car finance to realize tax benefits by the end of the financial year. This year is particularly relevant for two reasons. One is the final chance to utilise temporary [full expensing](https://www.ato.gov.au/business/depreciation-and-capital-expenses-and-allowances/temporary-full-expensing/ "Comprehensive Explanation of Expensing") with [sole trader car finance](/car-chattel-mortgage "Comprehensive Explanation of Expensing"). The second reason is the latest car loan interest rates increase by the RBA, mentioning that more rises could be ahead. After the surprise May decision, many private and business buyers may be keen to move now ahead of what could be further increases in the coming months. **Buyers can review the latest best-selling cars to assist with decision-making and contact Jade Car Loans to secure cheaper private and business vehicle finance.** **FCAI Report – April Car Sales** The [FCAI](http://www.fcai.com.au/) reports that the April car sales figures show a 1.3% increase compared to April 2022. Mr. Weber said the EVs account for 8% of the monthly sales, an increase on the 1.1% recorded for April last year. Including all forms of electrification, the numbers have grown from 9.5% to 15.4%. Mr. Weber commented that this number would have been even more if the industry had not had to deal with the supply issues globally. 76.8% of sales for the month came from the SUV and light commercial sector. 18.5% from passenger cars and 4.7% from heavy commercial vehicles. On a year-to-date (YTD) basis, there has been an increase of 68.5% in China-sourced vehicles, but Japan remains the biggest source country. Despite a drop-in sale, Toyota is still Australia’s best-selling automotive brand, ahead of Mazda. Passenger car sales are down on April 2022, while SUVs are up 8.6%. Light commercial sales are down 13.1% compared with the same month last year. ## **April’s Best-Selling Cars – Brands and Models** Due to the surge in sales of electric cars, it is worth starting out with which models are selling the best. The month’s top 3 models in the electric cars category were Tesla Model Y and Tesla Model 3, followed by the BYD Atto 3. The overall top 10 models for the month are full of SUVs, can chassis, and EVs. The Ford Ranger beat Toyota’s HiLux into the top spot, and Toyota’s RAV4 is back on the podium in 3rd place. Tesla Model Y came in 4th ahead of the Hyundai i30 and then the Mitsubishi Outlander. The final four were the Isuzu D-Max, Hyundai Tucson, MG ZS, and the Tesla Model 3. However, Toyota remains the number one brand, with reports of decreased sales due to various issues around supply and/or unloading. Mazda retains second position ahead of Kia and Hyundai. For is 5th ahead of Mitsubishi, Tesla, MG, and Nissan, with Volkswagen rounding out the top 10. ## Fast Access to Cheaper Car Finance The sales data does not necessarily represent immediate driveaway availability for all makes and models. Many of the vehicles delivered in April would have been pre-ordered vehicles. But buyers that are prepared with finance approval may be best-placed to capture any cars ready to drive away. We can assist with fast approvals on finance for both business and private buyers. With access to over 60 lenders, we have the resources to secure the [cheapest business vehicle finance rates](/car-finance-interest-rates) currently on the market. **For a fact, approval of car finance, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE CONSIDERS THAT THEY NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR* **Categories:** My Business --- ### [Latest RBA interest rates rise and how to still get affordable car loans](https://www.jadecarloans.com.au/blog/latest-rba-interest-rates-rise-and-how-to-still-get-affordable-car-loans) **Published:** June 12, 2023 **Author:** Publisher **Content:** The [Reserve Bank of Australia (RBA) Board](https://www.rba.gov.au/media-releases/2023/mr-23-13.html "Learn About the RBA's Decision-Making Team") met on 6 June to make its monthly interest rates decision less than a week after the [Australian Bureau of Statistics (ABS)](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release "ABS Publications") revealed inflation had risen in April. Expectations of the decision were split in the markets as the spike in inflation came as a surprise. The RBA decided to lift the cash rate by a further 0.25% to 4.1%. This is the highest in 11 years. The Board said that the June rise was to provide ‘greater confidence’ that there would be a return of inflation to the target levels within a reasonable amount of time. In a speech the following day, Dr Lowe elaborated on some of the factors behind the Board’s latest rate decision and what they will be keeping an eye on ahead. The key message of that speech was that the narrow path to achieving objectives could be bumpy for the economy. Despite the peak of inflation behind us, RBA Governor Philip Lowe warned it could take some years and with slower economic growth for inflation to get back to the 2-3% range. Why is this a problem? Dr Lowe explained how prolonged high inflation can cause damage to the economy with all Australians feeling the effects. While all the talk is very economic and technical, the bottom line for new car buyers requiring finance is likely to be – what will it mean for my car loan? Specifically, what are the prospects and paths for securing an affordable loan? One red flag could be the need for buyers to set themselves up well to ride out the possible bumps ahead that Dr Lowe refers to. That means an affordable repayment schedule based on the cheapest interest rate finance. **Jade Car Loans covers the latest RBA interest rate decisions and outlines how buyers may look to achieve affordable car loans in the current economic scenario**. ## Reserve Bank June Decision Dr Lowe announced the June rate decision in a statement posted to the RBA website. The key points include:- - It will take some time for inflation to fall to the 2-3% target. - June rate increase to provide more confidence of inflation returning to target within a ‘reasonable’ period. - High inflation causes damage including erosion of savings; hurt to budgets; difficulties for business planning and investment; and worsens inequality of incomes. - The Board responded to indications from recent inflation outlook data that the ‘upside risks’ have increased. Goods inflation slowing, services price inflation remains very high and persistent, and unit costs of labour rising but productivity is still subdued. - Easing in labour market conditions, but still tight. - Pick up in wage growth in response to high rate of inflation and tight labour conditions. Productivity needs to pick up. - The board is alert to the risks presented by wages and price increases and will continue to watch both closely – i.e. price set by businesses and wage increases. - Uncertainty around household consumption and the global economy. In closing, Dr Lowe said that some further rate rises may be required. The minutes of the June meeting will be released on 20 June and the Board next meets to make its next rate decision on 4 July. ## Dr Lowe – Additional Remarks While the release of the minutes of each RBA Board meeting revealed insights into the decision-making, more information was available the day after the Board meeting. Governor Lowe delivered an address to the Morgan Stanley Summit in Sydney on 7 June. The topic of the address was the narrow path that the RBA Board was seeking to get through and Dr Lowe discussed the ‘importance of the destination’ – the inflation target. Key points of note:- - Highest inflation in 30 years. - The tool to control inflation that the RBA has is interest rates. - Dr. Lowe acknowledged that using interest rates as a tool came with complications. - Evidence indicates high rates are have an effect and inflation is falling. - Despite the April spike, the assessment remains that inflation is trending down – underlying inflation has dropped. - The board discussed stress on household finance of high rates and high rents and the costs involved when inflation stays high for too long. - The Board will be closing watching: the global economy; household spending; growth in unit costs of labour (wages in line with productivity); and inflation expectation. - The importance of expectations is that if people expect high rates will stay high, businesses amend prices accordingly and workers want pay rises to compensate. And this all fuels continuing high inflation. - There is a narrow path to success and it could be bumpy - Despite the peak of inflation, Lowe warned it could take some years and slower economic growth for inflation to get back to the 2-3% range. ## Sourcing Affordable Car Loan Interest Rates Faced with another interest rate rise and the potential for more in the future, here are a few tips for sourcing affordable car loans: RBA decisions have flow-on effects across the lending market, including motor vehicle finance. However, the timing and magnitude of car loan interest rate increases can vary among lenders. By utilizing our broker services, you can benefit from faster and more extensive coverage of the market, enabling you to find the cheapest rates and the best loan options to suit your buyer’s requirements. We specialize in [Secured Car Finance](/secured-car-loans "Guaranteed Car Financing"), ensuring a sustainable outcome over the years of the car loan term. To achieve a more manageable monthly repayment amount, it is important to focus closely on the terms of the loan, including options like [Tesla car financing](/tesla-finance "Get Your Tesla with Financing"). Consider speaking with us about securing a longer term for your car loan, which can help reduce the repayments to a more workable amount. Additionally, it’s important to remember that with a Secured Car Loan, you always have the option to make extra payments over the loan term. Another strategy to reduce the loan amount required is to consider paying a deposit, or a larger deposit if funds are available. This can significantly lower the amount you need to borrow. Our [Commercial Vehicle Finance Calculator](/car-finance-calculator "Calculate Your Commercial Auto Loan") can assist you in deciding how you would like your loan structured, so you’ll be ready to brief our consultants on your preferences. It’s also recommended to apply for finance before finalizing your decision on the car. Knowing the approved rate and repayments can help you narrow down your options and focus on cars within your desired price range. At our company, we offer [CBA Car Loans](/cba-car-loans "Vehicle Financing and Car Loans by CBA") and Motor Vehicle Finance, ensuring a comprehensive range of options to meet your needs. **Contact Jade Car Loans at 1300 000 003 to discuss how we may assist you in achieving an affordable car loan with cheaper interest rates.** *DISCLAIMER: REGARDING MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Toyota HiLux back on top in record sales month for motor vehicle market](https://www.jadecarloans.com.au/blog/toyota-hilux-back-on-top-in-record-sales-month-for-motor-vehicle-market) **Published:** June 12, 2023 **Author:** Publisher **Content:** The rivalry between the Ford Ranger and the Toyota HiLux in the sales arena took another turn in May. HiLux moved back into top spot based on sales figures for the month. Ranger had held the spot with extremely close sales numbers for these popular utes in recent months. The two models regularly swapping 1st and 2nd on the leader board. But HiLux stepped back to the top of the podium in May, selling 5772 to Ranger’s 4110. Overall, May 2023 is being noted as a record month for sales in the new motor vehicle market. According to the figures released by the Federal Chamber of Automotive Industries (FCAI) the May 2023 result is 12% up on May 2022, 2.7% higher than the previous May record set in 2017. Year to date total sales are also 4.3% above the same period in 2022. The Chamber’s Chief Executive, Tony Weber, said the result was a signal of supply improvements. Good news for long-suffering buyers that have been waiting for the shipment to come in. Or is it? Reports have that many of the sales were filling back orders. Reports also have showrooms reporting things are a bit slower due to the economic conditions. For buyers ready with the finance secured at our cheaper rates, the situation could present opportunities for deals to be made for driveaway stock. Read more here [CNN](https://www.cnn.com/2023/04/15/cars/car-loan-interest-rates-2023-dg/index.html) We do our monthly wrap of the car sales results and update on car loans to assist buyers with their purchasing plans. ## FCAI May Sales Report The [FCAI](https://www.fcai.com.au/ "Visit the Official Website of the Federal Chamber of Automotive Industries (FCAI)") reports sales for the auto industry achieved a ‘best-ever’ May result and all states and territories recorded good upticks. Mr Weber described the results as encouraging after the months of issues around shipping and logistics which hampered deliveries. However, he warned that all those issues are not totally resolved. Mr Weber said the large percentage of May’s vehicle sales were for 2022 orders. An interesting statistic is the increase in sales in the [passenger vehicle market](https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-australia-by-month "Discover the Passenger Vehicle Market") of 5% compared with May of 2022. This segment has seen declines in recent years as the popularity of SUVs has taken off. A market which continues to power with a 14.7% increase in the SUV category. Light commercials had also been down of late but recorded a 10.7% uptick in May. [Battery EV sales](https://thedriven.io/2023/06/06/may-2023-australian-ev-sales-data-tesla-and-byd-take-73-pct-of-all-electric-sales/ "Electric Car Sales Data") represented 7.7% of the May sales and 5% YTD. Sales for all types of electrified vehicles – that includes battery, PHEV and hybrids, was 15.6% of the market. Despite a downturn in numbers recently due to specific issues, Toyota retained overall market leadership ahead of Mazda. And as we led in with, Toyota HiLux was the best-selling vehicle overall, ahead of the Ranger with Tesla’s Model Y coming in third. ## Makes and Model Leader Board Now to take a closer look at the rest of the leader board for manufacturers and individual models. The percentage changes are for a year-on-year (YOY) comparison. The top 10 models were:- Toyota HiLux, Ranger, Model Y Tesla, RAV4, MG ZS, Isuzu D-Max, Hyundai i30, Hyundai Tucson, Mitsubishi Outlander and the Mazda CX-5. Despite only having one model in the top 10, Mazda retained second position on the best-selling manufacturers leader board behind Toyota. Interestingly, Toyota sales were down 19.6% YOY while Mazda was up 30.9%. Hyundai came in third followed by Kia, then Ford, MG and Mitsubishi. The final 3 in the 10 made up with Tesla, VW and Subaru. ## Car Finance Options and Opportunities The positive car sales results in May may well be attributed to business operators finalizing their purchases before the end of IAWO (Instant Asset Write-off). After 30 June, the temporary full expensing or Instant Asset Write-off will no longer be available. This means that business owners have just a few weeks left to acquire new vehicles, including Toyota HiLux, and take advantage of these generous tax measures. To make the most of this opportunity, businesses looking to utilize the temporary full expensing tax measures may find Chattel Mortgage particularly well-suited. In light of the recent rate rise announced by the Reserve Bank, it is anticipated that some lenders will increase their rates in the days and weeks to come. However, buyers can rely on our services to source the cheapest rates from a wider range of lenders, and do so more efficiently. We understand the importance of finding the best financing options for your car purchase. That’s why we offer [RACQ Car Loans](/lenders "Business Vehicle Finance"), providing you with a comprehensive range of choices to suit your needs. Additionally, for businesses exploring car financing alternatives, we also offer attractive [Commercial Car Lease Deals](/car-lease "Exclusive Business Vehicle Leasing Offers"). Our team can assist you in securing a lease that aligns with your specific requirements, helping you make informed decisions and optimize your financial outcomes. By utilizing our services, such as the [jade car loan,](/ "Secure Your Vehicle with Jade Financing") you can navigate the changing interest rate landscape and access the most competitive rates available. With our expertise and extensive network, we are dedicated to assisting you in finding the right financing solution for your car purchase. Jade Car Loans offers cheaper rates on business vehicle finance for buyers of top selling work vehicles including Toyota HiLux, Ford Ranger and Isuzu D-Max. Fast approvals and prompt settlement are available for those seeking to finalise prior to EOFY. **For cheaper business finance and quick settlement on Toyota HiLux and other work utes, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [RBA Minutes show increase was a close call](https://www.jadecarloans.com.au/blog/rba-minutes-show-increase-was-a-close-call) **Published:** June 26, 2023 **Author:** Publisher **Content:** ## Navigating Interest Rates: Implications for Car Buyers and Financing Interest rates will be top of mind for many car buyers as the availability of new vehicles starts easing after recent supply chain issues. For buyers that placed orders some time ago, vehicles may finally be arriving, making it time to finalise finance. For others, stock may now be available to proceed with purchases and arrange motor vehicle finance. A key issue for buyers requiring finance is likely to be – the interest rates on car loans. Rates have been increasing across lending markets as the Reserve Bank of Australia (RBA) has been lifting the cash rate. Trying to predict what the RBA Board will decide at its next meeting is not easy, even for the experts. The June decision by RBA to lift interest rates by a further 0.25% came as a surprise to the markets. The financial markets generally had expected a rate hold. At least that was the general expectation until the [Australian Bureau of Statistics](http://www.abs.gov.au "Explore ABS Data") (ABS) released the latest CPI data the week prior to the RBA meeting. The data which showed a surprise increase in headline inflation. While the reasoning behind the June RBA decision was explained by Governor Philip Lowe in a speech the day after the decision, what other options were considered at that meeting were not known, until now. The minutes of the Reserve Bank of Australia (RBA) June meeting were posted on 20 June and show that it was a close call between a rate rise and keeping rates steady. Providing possibly some positivity to the outlook for the July decision. We highlight the key points in the minutes re the decision as insight into interest rates for buyers planning motor vehicle finance. ## RBA June Meeting Minutes – Key Points The minutes of [RBA Board meetings](https://www.rba.gov.au/monetary-policy/rba-board-minutes/2023/2023-06-06.html "Insights into RBA's Decision-Making Meetings") cover issues discussed around a range of topics and the June minutes can be accessed at the RBA website for those interested in the full transcript. We have extracted the key points of the interest rates decision discussion. Two options were discussed – raising the cash rate by 0.25% and holding the rate steady. The case for the 0.25% increase included:- - The risk of inflation taking too long to fall to the target level. Current projections have inflation remaining above the target (2-3%) for several years. Australia’s rate is expected to take longer to drop than the rate of inflation in some other countries. - The longer timeframe than in some other countries reflects the ‘desire’ of the RBA Board to get inflation down while still keeping the gains made in employment. - It was noted that if inflation remained high for an extended period, there was an increased risk that there would be an expectation that inflation would rise. If this eventuated, high rates of inflation would be more persistent and that would mean higher rates for an even longer time. This would also raise the risk of increases in unemployment. - In regard to the surprise April inflation increase, the Board noted that inflation in services prices was not showing signs of decreasing and the overseas evidence suggested this could prove persistent. - The possibility of what is known as ‘implicit indexation of wages’ was discussed. That is when businesses link price rises to the inflation rate, resulting in wage rises also. This was being observed and is the first time it has been noted in this way by the Board. The Board noting that if this became more widespread there was a heightened risk that high rates of inflation would be more persistent. In regard to keeping the rate unchanged, the Board discussed:- - The economy showing signs of slowing and more rate rises could result in a that slowing happening more sharply than current expectations. - Spending was already weak and disposable incomes were decreasing and many that were renting properties were facing financial difficulties. - Financial conditions would tighten in the time ahead due to the lag between the rate rises over the past year being felt in the economy. - The risk was noted of higher than expected rates of slowing in the economy and rising unemployment. - The board discussed the possibility of leaving rates unchanged at the June meeting and reconsidering the situation at following meetings when further data was available. Both cases were considered strong and ‘finely balanced’. But the case for an increase considered stronger. Lifting the cash rate to 4.1%. ## Motor Vehicle Finance Interest Rates Update The upcoming RBA Board meeting on 4 July holds significance for [Adelaide car loan](/car-finance-adelaide "Car Financing Adelaide") seekers and those interested in [NAB car finance](/nab-car-loans "Car Loans from NAB"), as they aim to understand potential interest rates when their vehicle becomes available. Monitoring these RBA discussions might offer some insight, although it should be noted that the RBA has surprised us with unexpected interest rate decisions in the past. One crucial factor that could influence the RBA’s decision is the release of the next set of inflation figures, scheduled for 28 June, provided by the ABS. These figures might shed light on the sudden increase in inflation that occurred in April. It is important to note that decisions made by the RBA can impact car loan interest rates, as lenders often respond by adjusting their rates accordingly. However, unlike the housing loan market, responses from lenders in the motor vehicle finance sector, including those offering [low doc vehicle financing](/low-docs-car-loans-for-business-vehicles "Streamlined Vehicle Financing with Few Docs"), are not always uniform. This variation creates opportunities for competition within the sector, enabling our consultants to find the most affordable rates on the market. If you’re specifically interested in financing a Tesla, you may want to explore the option of using a [Tesla Car Finance](/tesla-finance "Tesla Loan Calculator"). Such a tool can help you estimate the potential financing costs, including interest rates, based on your desired loan amount, repayment period, and other relevant factors. This way, you can make informed decisions about your car purchase and better understand the financial implications. Keep in mind that using a loan calculator is a helpful starting point, but it’s always recommended to consult with financial professionals and explore offers from multiple lenders to ensure you get the best possible financing terms for your Tesla car. **With multiple rises recently, Jade Car Loans gives car buyers the edge with more lenders to source the cheapest interest rates in the market.** **For cheaper interest rate car finance, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [June’s Best Selling Cars – Tesla Comes in Second](https://www.jadecarloans.com.au/blog/junes-best-selling-cars-tesla-comes-in-second) **Published:** July 10, 2023 **Author:** Publisher **Content:** ## Tesla Model Y Surges in Sales, Securing Second Spot in Best Selling Cars of June 2023 While the end of financial year makes June a popular month to upgrade motor vehicles, there are a number of reasons why June 2023 was particularly notable. One being that the Tesla Model Y came in second on the best selling cars list ahead of the Ford Ranger. This result is being attributed to large deliveries arriving in the month but the actual sales figures are quite outstanding. According the VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) Toyota HiLux held onto top spot with 6142 units sold, Tesla Model Y came second with 5560 units and the Ford Ranger third with 5334 units sold. Tesla’s impressive monthly result propelling the brand to 6th place on the best selling makes. The FCAI’s Tony Weber that June is usually strong for car sales but 2023 is the best June since 2018. Mr Weber said that dealers and manufacturers were indicating that demand is strong and although showing signs of recovery, supply levels are still not yet meeting demand. A key reason for the great June result is likely the prospect of further interest rate rises in the coming months. [The Reserve Bank](http://www.rba.gov.au) (RBA) did hold rates steady for July, but in the previous months, the Board did indicate further rate rises could be required. Likely incentivising many buyers to secure their new cars with finance before another rate rise. For business owners, the incentive to purchase new vehicles before the end of the financial year would be for the last opportunity to take advantage of temporary full expensing. The accelerated asset depreciation measure ending on 30 June 2023. ## FCAI June Car Sales Report The FCAI note that the June 2023 result was 25% higher than sales in June 2022 and the best June since 2018. Mr Weber said the Chamber was monitoring economic conditions and how they may impact car buying decisions in the next half of 2023. The sales of electrified vehicles, low and zero emission models, continued their upward trend. Battery electric models were 8.8% of the June figures and 7.4% of the total sales for the first 6 months of the year. Mr Weber said that more models being introduced and more competitive prices was extremely important for the market to meet consumer needs. ## Best Selling Cars – June’s Top 10 Makes and Models For those in the market for a new vehicle and for motor aficionados, the monthly leader boards of best selling car brands and models is a ‘must-watch’. As mentioned above, the June results threw up a big upset with the Tesla Model Y SUV securing a podium position. The top 10 best selling models for June were: HiLux, Tesla Model Y, Ford Ranger, MG ZS, Toyota RAV4, Hyundai Tucson, Mazda BT-50, Hyundai i30, Isuzu D-Max, and Mitsubishi Triton. So, the leaderboard is full of utes, SUVs, and EVs. VFACTS report individual categories as well as the top 10 overall. Utes being an extremely popular category, we note that in the 4×2 ute category the top 3 were HiLux, BT-50, and D-Max. In the 4×4 category, it was Ranger, HiLux, and then BT-50. Now for the top selling brands. Despite recording falls in sales on a year-on-year (YOY) basis, Toyota holds on firmly to the top spot. Mazda also held on to its second position with a 55% increase in sales YOY. Third place went to Hyundai, followed by Ford, then Kia and Tesla. The final four were MG, Mitsubishi, VW, and Subaru. What can buyers take from these results? While not mentioned in the FCAI release, it has been reported in recent months that the majority of new car sales were for waitlist customers. Some customers have been waiting since last year for the shipments. With supply still not on par with demand as noted by Mr. Weber, buyers should take caution when evaluating the figures. Contact dealers and see what stock is available to drive away immediately. With the increases in interest rates and cost of living pressures, some buyers who were on waitlists may have changed their minds. Considering these factors, potential buyers might want to explore [Tesla financing](/tesla-finance "Tesla Car Loans"). This could provide a viable option for those interested in purchasing a Tesla vehicle, especially given the brand’s strong performance in recent sales. ## Securing Finance for Best Selling Cars To be in an ideal position to purchase a new car quickly, buyers can get approved for finance before visiting the dealership. Business and private car buyers can speak with us about cheaper finance on best selling cars including top performers – HiLux, Tesla Model Y, and Ranger. For private buyers, the Secured Car Loan will be the most suitable for most buyers of new vehicles. For commercial buyers, considering [ABN Car Finance](/abn-car-loan "Car Loans for ABN holders") could be a beneficial move. It will be a matter of deciding which of the commercial motor vehicle finance products will work best for their structure, tax approach, and financial objectives. Speak with us for quick quotes and fast approval so you can secure your best selling vehicle quickly and efficiently. Business vehicle loans, especially with [competitive commercial car finance rates](/car-finance-interest-rates "Business Car Loans with Great Interest Rates"), can provide the necessary financial support for businesses looking to expand their fleet or upgrade their current vehicles. With the right financial planning and advice, you can make the most of the opportunities presented by the current automotive market. Additionally, if you’re considering changing the terms of your existing car loan, using a [refinancing car](/car-refinancing "Calculator for Car Refinancing") calculator can be a helpful tool. This can provide you with an estimate of potential savings and help you determine whether refinancing is a good option for you. By inputting your current loan details and the terms of the proposed new loan, you can compare the costs and see the potential impact on your monthly payments and overall interest paid. This can be a valuable step in making informed financial decisions about your vehicle. **For cheaper finance on best selling cars, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Business Vehicle Finance: Compare Leasing and Chattel Mortgage](https://www.jadecarloans.com.au/blog/business-vehicle-finance-compare-leasing-and-chattel-mortgage) **Published:** September 3, 2023 **Author:** Publisher **Content:** Business owners have the choice of several financing products when purchasing new vehicles. The most widely used are Leasing and Chattel Mortgage. During the recent accelerated asset depreciation period with temporary full expensing and Instant Asset Write-off, Chattel Mortgage was extremely popular for the generous tax deductions. But with the end of this measure, as announced in the [Federal Budget](https://budget.gov.au/ "Australian Government Budget 2023-24"), business owners may be looking more closely at the benefits of both options. Buyers can compare Leasing and Chattel Mortgage business vehicle finance to decide which is best suited to individual business objectives, balance sheet and tax approach. ## Vehicle Leasing and Chattel Mortgage Similarities Both Vehicle Leasing and Chattel Mortgage are financing facilities. A Vehicle Lease is not a short-term rental or hire facility but a credit facility to purchase business vehicles. For most businesses, the vehicle will be accepted by the lender as the security or collateral against the finance. Chattel Mortgage and Leasing both include a percentage of the total finance amount that is set aside and due for full payment at the end of the term. With Chattel Mortgage it is referred to as a balloon, with Lease, the residual. The residual amount is subject to [ATO](http://www.ato.gov.au "Australian Tax Office") rulings while the balloon percentage is subject to lender approval. All types of business vehicles can be purchased with both these credit facilities – new and used. Both may also be selected by all types of business structures and set-ups – companies, partnerships, SMEs, trusts, self-employed and large corporations. We offer both options for businesses that do not meet all the approval criteria as set by some lenders. That includes sole traders, self-employed, new businesses and those without financials. When sourcing vehicle financing we ensure fixed interest rates, a fixed term and fixed equal monthly payments. ## Compare Leasing and Chattel Mortgage – Accounting Methods One of the key differences to note when buyers compare Lease and Chattel Mortgage is the compatibility with accounting methods used by businesses. Leasing is best suited to the accruals method of accounting and Chattel Mortgage to the cash accounting method. We strongly advise business owners to check with their accountant regarding the method used to prepare their annual accounts. ## Vehicle Ownership When Comparing Leasing to Chattel Mortgage The ownership of the vehicle in title over the finance term is a key difference between these two credit facilities. This is a difference that affects the balance sheet and flows through to differences in tax deductions. With Chattel Mortgage the ownership of the business vehicle immediately transfers to the buyer on settlement with the seller. As the buyer business owns the vehicle while making repayments to the lender, they enter the vehicle as an asset/liability on their balance sheet. As an asset, the vehicle is subject to depreciation in line with the ATO rulings at the time of purchase. With a Lease, the ownership of the vehicle is held by the lender while the business makes the scheduled lease payments. As the business does not own the vehicle, it is not posted to its balance sheet and as such, is not subject to depreciation by the business. Thus, Lease is referred to as an off-balance sheet credit facility. This difference is the reason that Chattel Mortgage is especially popular when temporary full expensing or IAWO are available. ## Compare Leasing and Chattel Mortgage Tax Deductions How a tax deduction is realized is also different with these two credit facilities. With [car leasing finance](/novated-car-leasing-and-salary-sacrificing "Go here for best vehicle lease deals"), the monthly payments are treated as a business expense by the ATO and are fully tax deductible. So in a financial year, a business may deduct the total amount of lease payments made in that year. The tax deduction on vehicles financed with [car finance for sole traders](/car-chattel-mortgage "Business vehicle finance") comes through the depreciation of the vehicle as a business asset. The amount of depreciation allowed each year is based on the ATO schedule. Interest charges on monthly repayments are tax deductible. Note that IAWO is available in 2023/24 but only for businesses with an income threshold of less than $10m and only for assets of $20,000 or less. GST is also treated differently. With car finance chattel mortgage, the buyer can claim the full amount which is charged on the vehicle purchase on the BAS immediately after purchase. No GST is charged on the monthly repayments or interest. Lease payments do attract GST and it can be claimed on the corresponding BAS return. Note that being registered for GST is not a pre-requisite for eligibility or approval for business vehicle financing. ## Comparing Interest Rates Business Vehicle Finance The interest rate on Chattel Mortgage is lower than on Leasing and this is uniform across the commercial lending market. However, rates will vary with lenders and for individual applications, especially when considering options like [new commercial car financing](/new-car-finance "Financing Options for Your New Business Fleet"). To get estimates on both options, use our Car Loan Calculator. **To discuss cheap interest-rate vehicle financing with either Lease or Chattel Mortgage, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Luxury Car Tax Threshold Increased for FY24](https://www.jadecarloans.com.au/blog/luxury-car-tax-threshold-increased-for-fy24) **Published:** September 4, 2023 **Author:** Publisher **Content:** Were you aware that when purchasing a car over a certain price point a luxury car tax is applied? Most buyers may not be aware of this tax as it is paid by the importer or the dealer and would be incorporated in the price of the vehicle, not listed as an extra such as stamp duty. The [Australian Taxation Office](http://www.ato.gov.au "Discover ATO's Online Resources") determines the [rate of Luxury Car Tax](https://www.ato.gov.au/rates/luxury-car-tax-rate-and-thresholds/?page=1#Luxury_car_tax_rate "Taxation Rate for High-End Vehicles") or LCT and the threshold of when it applies. These are reviewed annually. As LCT impacts the pricing of new vehicles that are imported, it therefore can impact the financing as in the amount required for the loan and hence the repayments. Jade Car Loans covers Luxury Car Tax, the threshold changes made by the ATO for FY24, the different LCT for EVs and financing options for luxury vehicles. ## What is the Luxury Car Tax? LCT is applied to cars with a price/value including GST above the threshold as determined by the ATO. The current LCT rate is 33%. This is charged on the amount of the price/value over the relevant threshold. LCT is payable by sellers or importers of luxury cars such as dealers. This tax is applied to cars that are two or less years old. ## What is rated as ‘luxury’ for Luxury Car Tax? While most buyers would equate ‘luxury’ with high end brands such as Audi, BMW and Mercedes-Benz, for LCT, the definition is far broader. It applies to all motor vehicles – not motorbikes, that are designed to carry less than 9 passengers and carry loads below 2 tonnes. Limousines are classified as cars, regardless of how many passengers they are designed to carry. With that definition and the current threshold for LCT, this tax may apply to a large number of imported makes and models. While cars purchased by people with disabilities are subject to LCT, the disability-related modifications made to the vehicle would not be subject to the tax. ## Luxury Car Tax Thresholds FY24 The ATO reviews the thresholds for LCT annually and has increased the levels for the financial year 2023-24. The thresholds are different for fuel-efficient vehicles compared with other fuel-system vehicles. LCT FY24 Thresholds:- - For fuel-efficient vehicles, the threshold has been lifted from $84,913 in 2022/23 to $89,332 for the current financial year. - For other vehicles, the threshold has been lifted from $71,849 in 2022/23 to $76,950 for the current financial year. So the 33% LCT would apply to the price above those thresholds. With a more generous threshold for fuel-efficient vehicles, this may present an incentive to move to an EV. With the price increases being seen in the automotive sector as a result of global inflation, and supply and demand issues, this tax break on LCT will no doubt be welcomed by buyers and motor dealers. ## Financing Vehicles Subject to Luxury Car Tax Luxury Car Tax applies to the vehicle not the type of buyer or the purpose for the vehicle. That means that both private and business buyers of vehicles over the LCT threshold will be paying LCT in their pricing. Our full range of personal car loans and business vehicle financing products are available for vehicles subject to LCT. As the LCT is paid by the dealer or importer, it is not added to the cost of the vehicle to the buyer. LCT does not affect the financing product, interest rate or other aspects of the car loan. For most buyers of new cars for private use, as well as those seeking [easy commercial car loans](/business-car-finance "Competitive Business Vehicle Finance Rates at Jade Car Loans"), our Secured Car Loan will be the most suitable form of financing. This loan allows the car to be accepted as security against the loan. The interest rate is fixed, the term is fixed, and equal monthly loan repayments are in place. When all the repayments are finalised, the lender releases the security. Comprehensive insurance is required to be taken out on the vehicle under finance. Business buyers, especially those considering hire purchase car options, have a choice from several commercial credit products to finance new vehicles. These include Chattel Mortgage, Lease, and Commercial Hire Purchase. For business owners not familiar with commercial loan products, including [hire purchase car](/commercial-hire-purchase "Explore Business Hire Purchase Options") financing, there are differences in suitability to cash or accruals methods of accounting, in the way tax deductions are realised, how GST is treated, interest rates, and in the approach taken to the balance sheet. Referring to an accountant in deciding which is the most suitable option is highly recommended. **For cheaper finance on all types of cars, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ### [Can I get the car loan term I want?](https://www.jadecarloans.com.au/blog/can-i-get-the-car-loan-term-i-want) **Published:** September 18, 2023 **Author:** Publisher **Content:** While a lot of emphasis is placed on interest rates, all elements of a car loan should be closely considered in the decision-making process. That includes the interest rate as well as the car loan term. The rate, the loan amount and the term work together to determine the monthly repayment figure. A figure that can be the most significant number for many buyers Most buyers will have an idea of what repayments they can afford or want to pay in monthly commitments when purchasing a car with finance. A figure that has to work with their budget. Buyers can use a car loan calculator to work out what rate, amount and term is required to deliver their preferred repayment amount. But what most may not know is how to go about actually achieving their preferred loan structure. The big unknown is – how much say applicants have in getting approved for the car loan structure that they want. Can loan applicants stipulate the car loan term they want? Do applicants always get what they want or is the decision completely up to the lender? For those looking for answers to these questions and for those who have not given much thought to the loan term, we cover the importance of the car loan term to vehicle finance and how buyers may achieve the term they want. ## Why the Car Loan Term is Important As indicated above, the car loan term, the amount being borrowed, and the interest rate together determine the monthly repayments. The loan term directly impacts the repayment figure. A longer car loan term results in fewer monthly payments. A shorter car loan term results in higher repayments. A shorter term means the car will be wholly owned sooner than with a longer term. The debt will be repaid which may be a favourable position for anyone seeking to take on further finance with other major purchases. Lower debt levels may improve credit profiles also. For those seeking to keep repayments within budget, the term can be the number to focus on. To see how this works for the car being considered, simply use our [Business Car Finance Calculator](/car-finance-calculator). ## How Car Loan Term Impacts Repayments, Interest The loan term impacts the monthly payment figure but it also affects the total amount of interest payable. While a longer car loan term – an additional 12-24 months, may deliver a lower monthly outgoing, the total interest payable will be greater than for a shorter term. The higher interest total on the purchase then adds to the overall cost of the car purchase. This a factor that buyers can consider when planning to finance their next vehicle. ## Lender Approval Guidelines The motor vehicle lending market is vast. The banks, finance companies and other loan sources can have variations in the guidelines they use to approve applications in general and to approve customer preferences regarding loan structure including the car loan term. What lenders look for when approving car loan applications centres very much on creditworthiness. The [credit profile](http://www.moneysmart.gov.au "Your Financial Credit Overview") forms an integral component of the approval process, especially for consumer finance. Good credit rating applicants are typically offered better interest rates. This is noted in that the [lowest business car financing rates](/car-finance-interest-rates "Commercial Vehicle Financing APR") advertised by lenders unless specified otherwise, will typically be for new vehicles and good credit-rated applicants. Are lenders open to negotiating on car loan terms? Buyers should appreciate that responsible lenders must abide by the Consumer Finance Laws as regulated by [ASIC.](http://www.asic.gov.au "Australian Securities and Investments Commission") Those guidelines can have a determining effect on what they will and can’t approve. The vehicle itself can also play into the approval process, especially with used cars. The price of the car, the value, age and condition and the loan amount being requested about the creditworthiness and financial position of the applicant are considered. This can bring in decisions around whether or not to apply for no-deposit finance or to pay a deposit to reduce the amount being applied for. Not all lenders will be open to negotiating directly with customers. **When it comes to achieving the car loan term preferred, buyers can engage Jade Car Loans broker-style services to handle negotiations with lenders.** With our buying power, direct lender connections and expertise, our consultants are well-placed to assist in not only achieving better rates but also negotiating terms to deliver the best possible outcome. ## Calculating and Achieving a Better Car Loan Term Using our services can be of great assistance to all types of car buyers both private and business. Take advantage of our calculator to work out preferences and contact us to handle the entire car financing process. Buyers wanting assurances on the finance before committing to a purchase can request pre-approved finance. **To utilise our services to source car finance and negotiate on the car loan term, interest rate and other conditions, contact Jade Car Loans at 1300 000 003.** *DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.* **Categories:** Uncategorised --- ## Pages ### [Better Car loans with Jade](https://www.jadecarloans.com.au/) **Published:** October 19, 2023 **Author:** Publisher --- ### [What Is Car Chattel Mortgage](https://www.jadecarloans.com.au/car-chattel-mortgage) **Published:** October 25, 2023 **Author:** Publisher --- ### [Why Use Jade Car Loans](https://www.jadecarloans.com.au/why-jade-car-loans) **Published:** October 20, 2023 **Author:** Publisher --- ### [Volkswagen Car Loans And Business Vehicle Finance](https://www.jadecarloans.com.au/volkswagen-car-financing) **Published:** December 7, 2023 **Author:** Publisher --- ### [Westpac Car Loans And Business Vehicle Finance](https://www.jadecarloans.com.au/westpac-car-loans) **Published:** November 16, 2023 **Author:** Publisher --- ### [Used Car Finance](https://www.jadecarloans.com.au/used-car-finance) **Published:** October 23, 2023 **Author:** Publisher --- ### [Unsecured Personal Loans - Car Finance Broker](https://www.jadecarloans.com.au/unsecured-personal-loans) **Published:** November 17, 2023 **Author:** Publisher --- ### [Testimonials](https://www.jadecarloans.com.au/testimonials) **Published:** October 31, 2023 **Author:** Publisher --- ### [Secured Car Finance](https://www.jadecarloans.com.au/secured-car-loans) **Published:** November 17, 2023 **Author:** Publisher --- ### [St George Car Loans](https://www.jadecarloans.com.au/st-george-car-loans) **Published:** December 7, 2023 **Author:** Publisher --- ### [Personal Car Finance](https://www.jadecarloans.com.au/personal-car-finance) **Published:** November 17, 2023 **Author:** Publisher --- ### [Privacy Policy](https://www.jadecarloans.com.au/privacy-policy) **Published:** October 25, 2023 **Author:** Publisher --- ### [Pepper Money Car Loans And Business Vehicle Finance](https://www.jadecarloans.com.au/pepper-car-finance) **Published:** November 16, 2023 **Author:** Publisher --- ### [Novated Car Leasing And Salary Sacrificing](https://www.jadecarloans.com.au/novated-car-leasing-and-salary-sacrificing) **Published:** October 25, 2023 **Author:** Publisher --- ### [No Credit Car Loans](https://www.jadecarloans.com.au/no-credit-car-loans) **Published:** October 23, 2023 **Author:** Publisher --- ### [No Deposit Car Finance](https://www.jadecarloans.com.au/no-deposit-car-finance) **Published:** October 25, 2023 **Author:** Publisher --- ### [No Docs Car Loans For Business Vehicles](https://www.jadecarloans.com.au/no-docs-car-loans-for-business-vehicles) **Published:** November 8, 2023 **Author:** Publisher --- ### [New Car Loans](https://www.jadecarloans.com.au/new-car-finance) **Published:** October 23, 2023 **Author:** Publisher --- ### [News & Tips](https://www.jadecarloans.com.au/blog) **Published:** October 20, 2023 **Author:** Publisher --- ### [Macquarie Equipment Finance | Commercial Lender](https://www.jadecarloans.com.au/macquarie-car-loans) **Published:** November 16, 2023 **Author:** Publisher --- ### [NAB Car Loans](https://www.jadecarloans.com.au/nab-car-loans) **Published:** November 16, 2023 **Author:** Publisher --- ### [Low Docs Car Loans For Business Vehicles](https://www.jadecarloans.com.au/low-docs-car-loans-for-business-vehicles) **Published:** November 17, 2023 **Author:** Publisher --- ### [Jade Car Broker Service](https://www.jadecarloans.com.au/car-broker) **Published:** October 25, 2023 **Author:** Publisher **Content:** ## **Use our convenient Jade Car Broker Service to Find Your Car** Just like our finance service handles all the aspects of sourcing your car loan, our car broker service handles sourcing you the car you’re after – at the cheapest price! A car broker works in a similar way to a finance broker. You give us your order and we secure you the cheapest deal on the car you want. **Cheap car loans, cheaper car prices with our fleet discount negotiating power** As major participants in the motor vehicle finance sector, we’re across the market and have established working relationships with a network of new and used motor dealers across Australia. These relationships entitle us, as car brokers, access to cheaper ‘fleet discount’ prices on many new vehicles even for single vehicle, private purchasers. We use our broker status to achieve cheaper car prices for our customers. Car dealers are keen to move stock and they’ll compete for your order when we put your brief out to the market. This process saves the dealer the time and money of directly dealing with the buyer and that savings can be passed on to you through our broker service. **Jade Car Broker Service – the convenient way to buy a car.** Buying online is the preferred way to shop for a whole range of goods and services and the car industry is also trending towards that format. But our broker service goes beyond the usual online shopping experience by searching the market on your behalf and allowing the car dealers to compete for your order rather than you competing with other sellers. - We take your brief via our online application form. Note – if you do want to test drive a car model we recommend you visit a local dealer and do that prior to submitting your order. Your brief should contain optional accessories and extras that you want. - No upfront costs involved in placing an order. - We put your order out to our pool of dealers and request their best price for that particular vehicle. - Dealers submit their best offers and advise availability. While manufacturers and dealers may advertise a recommended market price or a drive-away offer, in many instances, that’s just the starting point to negotiating on a better price. - Individual dealers will offer more competitive prices if they are over-stocked on that model, have demonstrator models or are just keen to do business and sell more cars. - Our Jade team assess the deals, select the cheapest option. - We present you the offer and on acceptance, finalise the deal. - When all the details are finalised, we’ll arrange pick-up/delivery of the car. - We’ve saved you a lot of time and hassle and delivered a cheaper priced car **TIP: Arranging pre-approved car finance through Jade Car Loans may further improve your chances of a cheaper price. Knowing your finance is assured, the dealers know the sale is pretty much a done deal and maybe even keener at slashing their price.** **Submit your car order to Jade Car Broker Service today and enjoy the convenience of having our team source you a cheaper car**. --- ### [Commercial Hire Purchase (CHP) - Car Finance](https://www.jadecarloans.com.au/commercial-hire-purchase) **Published:** October 25, 2023 **Author:** Publisher --- ### [Latitude Car Loans](https://www.jadecarloans.com.au/latitude-car-loans) **Published:** December 7, 2023 **Author:** Publisher --- ### [Lenders](https://www.jadecarloans.com.au/lenders) **Published:** December 7, 2023 **Author:** Publisher --- ### [FAQs](https://www.jadecarloans.com.au/faq) **Published:** October 25, 2023 **Author:** Publisher --- ### [Contact Us](https://www.jadecarloans.com.au/contact-us) **Published:** October 25, 2023 **Author:** Publisher --- ### [Commercial Car Lease Deals](https://www.jadecarloans.com.au/car-lease) **Published:** October 25, 2023 **Author:** Publisher --- ### [Classic Car Loans | Best Vehicle Finance Australia Wide](https://www.jadecarloans.com.au/classic-car-loans) **Published:** November 8, 2023 **Author:** Publisher --- ### [Cheaper Financing For Tesla](https://www.jadecarloans.com.au/tesla-finance) **Published:** October 23, 2023 **Author:** Publisher --- ### [CBA Car Loans And Motor Vehicle Finance](https://www.jadecarloans.com.au/cba-car-loans) **Published:** November 16, 2023 **Author:** Publisher --- ### [Car Loans Brokers At Jade Finance](https://www.jadecarloans.com.au/car-finance-broker) **Published:** October 23, 2023 **Author:** Publisher --- ### [Car Refinance](https://www.jadecarloans.com.au/car-refinancing) **Published:** November 17, 2023 **Author:** Publisher --- ### [Car Loan Interest Rates](https://www.jadecarloans.com.au/car-finance-interest-rates) **Published:** October 24, 2023 **Author:** Publisher --- ### [Car Loan With Bad Credit](https://www.jadecarloans.com.au/car-finance-bad-credit) **Published:** October 23, 2023 **Author:** Publisher --- ### [Car Loan Calculator](https://www.jadecarloans.com.au/car-finance-calculator) **Published:** October 23, 2023 **Author:** Publisher **Content:** Please remember: When using this tool the calculation does not represent or indicate any offer for a loan quote or approval. The amount you put in for the financed amount will not account for any additional fees that banks and lenders do charge sometimes. Remember to allow extra in the amount finance for any options you might need like comprehensive insurance, extended warranty or on road costs etc. This is not a prediction rather a model. The calculator provides only an estimate of amounts and payment periods, the real repayments may be higher or lower. Please note this calculator does not allow for interest only loans. The calculation is only for loans where your regular loan or lease repayment where it includes both interest and the gradual repayment of the amount borrowed. It calculates interest by compounding on the same monthly basis over the term you select. Please talk to our commercial specialist in looking to an accurate interest rate and loan repayment suited to your own individual business requirements. --- ### [Car Finance Sydney - Car Loan Broker](https://www.jadecarloans.com.au/car-finance-sydney) **Published:** November 14, 2023 **Author:** Publisher --- ### [Car Loan Products](https://www.jadecarloans.com.au/car-loan-products) **Published:** November 16, 2023 **Author:** Publisher --- ### [Car Finance Rate Request A Quote](https://www.jadecarloans.com.au/approval) **Published:** October 23, 2023 **Author:** Publisher --- ### [Car Finance Perth - Car Loan Broker](https://www.jadecarloans.com.au/car-finance-perth) **Published:** November 14, 2023 **Author:** Publisher --- ### [Car Finance Melbourne - Car Loan Broker](https://www.jadecarloans.com.au/car-finance-melbourne) **Published:** November 14, 2023 **Author:** Publisher --- ### [Car Finance Australia - Car Loan Broker](https://www.jadecarloans.com.au/australia) **Published:** November 14, 2023 **Author:** Publisher --- ### [Business Car Finance - Commercial Vehicle Finance](https://www.jadecarloans.com.au/business-car-finance) **Published:** October 24, 2023 **Author:** Publisher --- ### [Car Finance Australia](https://www.jadecarloans.com.au/car-finance-australia) **Published:** November 14, 2023 **Author:** Publisher --- ### [Car Finance Adelaide - Car Loans Brokers](https://www.jadecarloans.com.au/car-finance-adelaide) **Published:** November 14, 2023 **Author:** Publisher --- ### [Business Car Finance Leasing HP & Chattel Mortgage](https://www.jadecarloans.com.au/overview-of-business-car-finance) **Published:** October 25, 2023 **Author:** Publisher --- ### [Car Finance](https://www.jadecarloans.com.au/car-finance) **Published:** November 14, 2023 **Author:** Publisher --- ### [Car Finance Brisbane - Car Loan Broker](https://www.jadecarloans.com.au/brisbane) **Published:** November 14, 2023 **Author:** Publisher --- ### [About Us](https://www.jadecarloans.com.au/about-us) **Published:** November 8, 2023 **Author:** Publisher --- ### [ANZ Car Loans And Business Vehicle Finance](https://www.jadecarloans.com.au/anz-car-finance) **Published:** November 16, 2023 **Author:** Publisher --- ### [0% Interest Car Loans](https://www.jadecarloans.com.au/zero-interest-car-loans) **Published:** October 20, 2023 **Author:** Publisher --- ### [ABN Car Loans](https://www.jadecarloans.com.au/abn-car-loan) **Published:** November 8, 2023 **Author:** Publisher --- ## Categories ### [Uncategorised](https://www.jadecarloans.com.au/blog/category/uncategorised) **Description:** Discover a mix of car finance insights and advice that don’t fit other categories. --- ### [Buying Tips](https://www.jadecarloans.com.au/blog/category/buying-tips) **Description:** Explore advice on financing, comparing options, and buying the right car. --- ### [My Business](https://www.jadecarloans.com.au/blog/category/my-business) **Description:** Insights and guidance on managing car purchases and finance for your business. ---