Posted on : 30/05/2024

EOFY Vehicle Purchase and Instant Asset Write-Off

As we turn the corner towards the EOFY, this may be a good opportunity to consider upgrading your vehicle or business assets. Please get in touch with a Bernie Lewis Home Loans Mortgage Broker to discuss any item you are interested in funding!

EOFY Dealership Discounts

As we quickly roll towards the EOFY, it is a really valuable time to explore your capacity to upgrade your vehicle. While dealerships gear up to meet end-of-year sales targets, you could take advantage of substantial discounts and attractive dealership incentives.

It pays to be opportunistic at this time of the year, as it is typically a beneficial period to purchase a new vehicle, with dealerships hosting EOFY sales across their fleet. It appears as though frustrating supply chain disruptions experienced over the past 12 months, have ceased and we are somewhat back to normal, meaning you can take the keys to your new your car in a timely manner.

Our expert finance brokers can help you with:

New, demo or used purchases
EV/Hybrid
Flexible loan terms (1-7 years)
Balloon payment options

Settlement can often be achieved within days and at extremely competitive interest rates, depending on the nature of the purchase.

Speak about your timeline to purchase with one of our Mortgage Brokers and put us to the test!

The instant asset write off explained

If you’re self-employed or own your own business with an aggregated annual turnover of less than $10m, you can claim an immediate deduction on all eligible business assets with a purchase value of $20,000 or less, as long as the asset is delivered and ready to use before 30th June 2024.*

This presents a great opportunity for you to expand your business at scale, by purchasing multiple assets under the $20k threshold.

Speak with us about what your business needs, or even those dream items you have been eyeing off, and we will endeavour to find a way to finance that for you.

*The information provided in this article is general in nature and does not take into account your personal circumstances. Since everyone’s personal situation is different, this article should not be taken as advice.