Competitive rates and workable terms on ute finance are individually sourced by Business.Finance experts to provide the best financing on all popular models. With no IAWO available this financial year, and with many businesses facing cash flow pressures from rising operating costs, sourcing the best ute finance when new vehicles are needed, has become even more important.
We work with individual operators to source and structure the most cost-effective loans for all makes and models. Not surprisingly, the two iconic cab chassis models – Ford Ranger and Toyota HiLux, remain at the top of the monthly car sales figures, as released by the Federal Chamber of Automotive Industries. These reports can provide indications of what is popular with buyers and inspiration to possibly consider other models, such as the Isuzu D-MAX which was sixth best-selling vehicle for the month.
The car sales data may also provide indications of the strength of the motor vehicle market and how quick buyers may have to act to secure their vehicle of choice. We cover off on the June car sales results and cab chassis financing options and opportunities.
Best-Selling Vehicles June 2024
The FCAI reports that car sales for the first half of this year remain strong with an 8.7% rise compared with the same 6 months last year. But June monthly sales were down slightly on June 2023. Possibly the lack of special tax benefits in the 2023/24 financial year resulted in a slow down in the usual EOFY rush to buy.
Light commercials such as cab chassis, and SUVs continue to dominate sales and popularity with buyers. The leading manufacturers for June were the usual brands – Toyota, Ford, Mazda, Kia and Mitsubishi.
In individual model sales, Ranger took top spot from HiLux by around 650 units. Isuzu’s D-MAX was the only other ute in the top 10, coming in at sixth position. But when looking at the sales figures for 4x2s compared with 4x4s, the top sellers change. In the 4x2 category it was the Isuzu just out-selling the Hilux by 5 units, and the Ranger in third position. In the 4x4 category, it was Ranger significantly pipping HiLux by nearly 900 units and D-MAX some way behind in third.
Getting Best Ute Finance Interest Rates
Rates drive car finance and getting the most competitive rates is critical to achieving workable repayments and a lower overall vehicle acquisition cost. The rate market has remained reasonably steady in recent months with the RBA holding the cash rate. But there appears to be varying views from the market as to when and if we will see another rate rise or the first rate cut.
Despite the run of RBA holds, commercial vehicle lending rates still vary across the lending market, which is extensive. Presenting issues for operators trying to quickly find the lender currently offering the best rates so they can get moving with their new ute purchase. We assist business owners to quickly source the current best rates from 80+ lenders. Simplifying and speeding up the process to ensure operators quickly secure their vehicles with the most affordable financing.
Available Ute Finance Tax Deductions
As mentioned above, the generous tax measures of temporary full expensing and IAWO are not available in the 2024/25 financial year. But tax deductions are still available across the selection of business vehicle finance credit facilities.
Vehicle Lease provides for the fully tax-deductible leasing payments. Hire Purchase do not have fully deductible monthly repayments but do provide a deduction when the ute is depreciated in line with current ATO guidelines.
Operators should speak with their accountant on which credit facility will best suit their accounting methods and strategies in order to optimise the benefits.
Comparing Ute Finance on Different Makes, Models
While Ranger and HiLux have long dominated the ute market, there more more very worthy contenders for buyers to consider – Mazda BT-50, Mitsubishi Triton, Nissan Navara and VW Amarok for starters. Pricing can vary but buyers can use our Finance Calculator to compare loan repayment estimates on the different models and variants – Ranger v Raptor for example.
This handy tool includes an option to vary the amount of the balloon. Providing a quick and easy way to work out preferred balloon and term prior to briefing our brokers to source your finance.
Fast Ute Finance Approval for Fast Delivery
Cab chassis vehicles are in hot demand and while supply issues have eased from the dire situation during the COVID-era, buyers may still need to be quick to secure their preferred variant. Our fast 24 hour loan approval assists buyers get finance decisions quickly and an offer locked in so they can place their order.
Fast approvals do not compromise on our brokers achieving the best rates from across the market. If you’re planning to upgrade your ute to kick off the new financial year, get the best ute finance sorted by contacting us.
For the best ute finance on Ranger, HiLux, D-Max and other models, contact Business Finance on 1300 000 033
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.
