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 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 4x2 category, the top 3 sellers in order were HiLux, Triton and D-Max. In the 4x4 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 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:-
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 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.
