| Key Point | Definition/Details |
|---|---|
| Benefits of Ute for Business |
– Income generation – Deductible expenses: fuel, oil, repairs, insurance, GST, loan interest, lease payments, etc. – Asset depreciation – Resale value – Fringe Benefit Tax – Instant Write-Off Scheme |
| Ute Finance Qualification |
– Easier qualification due to increased lender support. – Options for both new and established ABN holders. – Business must demonstrate repayment capability and consistent operation. |
| Instant Asset Write-Off Eligibility |
– Vehicles ≤ $57,581 (cars) – Vehicles between $57,581 and $150,000 (specialized vehicles: >9 passengers or >1 tonne payload) |
| Utes ≤ $57,581 | Mitsubishi Triton, Isuzu D-Max, Ford Rangers, Toyota Hilux, etc. |
| Utes between $57,581 – $150,000 | Ram 1500, Ford Ranger Raptor, Toyota Landcruiser, Chevrolet Silverado 1500, etc. |
| ABN Approved Finance Options |
– Chattel mortgage – Bad credit ute finance – Traditional secured asset finance – Low/no documentation loans – Leasing options |
Contact Diana from cloud9finance to help you with your next car purchase. If you’ve found your perfect car, we’ll help you find the right car loan with an easy online application process. Comparing your car loan options from Australia’s leading lenders, you’ll get approval usually within 24 hours. We’ll even help you gain pre-approval, so you know your limits when you’re car shopping at a dealer, an auction or a private sale.
