Looking For a New Vehicle or Equipment ?

Thank you all for visiting our stand last Saturday at the Granny Smith Festival. We had fun and a great turn out.

This week I want to talk about Vehicle Finance. When looking at vehicle and equipment finance, you need to consider:
- Which product is right for me?
- How should I structure the loan for my situation?
- Where can I find a quick and easy approval?

“Leasing” is a generic term used for equipment finance. Since the introduction of GST, leasing is being used much less than pre-GST.

Current Finance breakdown
• 20% Commercial hire purchase
• 70% Chattel Mortgage
• 10% Finance Lease
•
Commercial hire purchase or “CHP” is typically used by individuals (eg sales rep with car allowances) or companies on accruals for GST.

Chattel mortgage has become popular since the introduction of GST and is normally used for businesses on cash accounting for GST.


Types of finance we can offer:

1. Motor vehicle finance
• Passenger cars for business use
• Passenger cars for personal use
• Light commercial vehicles – vans and small trucks
• Heavy trucks and trailers

2. Plant and equipment finance
• Income-generating assets
• Manufacturing, construction, medical, transport…
• Computers and electronic equipment

As a quick reminder, the government's 50% tax* break for businesses with turnover less than $2million expires 31 December 2009, less than 2.5 months to GO !

Many dealers are not holding large amounts of stock so it is becoming more unlikely that you will find a vehicle with your particular colour and option requirements on a dealer's yard.

We recommend that if you are keen to achieve delivery prior to 31st December, you need to consider ordering your vehicle as soon as possible.

We know you are busy and we can help. Not only can we assist you with obtaining the right finance for your new vehicle, we can now help procure the vehicle itself.

Just tell us what make, model and type of vehicle you require and we’ll handle the transaction all the way from quoting through to documentation and settlement.

When you are ready to buy, be sure to call us to enjoy the experience.

*You must obtain accounting and tax advice specific to your own situation before deciding to purchase for the purpose of claiming the tax break.
For more information please see www.australia.gov.au/businesstaxbreak