A smarter way to buy a car

If you’re planning on purchasing a new car but don’t have a lot of time or the means to do all the legwork on your own, engaging a car broker or car buying service can be an excellent option. A car buying expert can save you a lot of time and hassle and will help you secure the best possible deal.

What exactly is a car buying service?

A car buying service is a third party engaged by you, the buyer, to assist you with buying a new car. Essentially, it is a car broker’s job to make your job easier when it comes to buying a new or used car.

When purchasing a new car, a significant deal of research is recommended to ensure you’re getting the best price on the car. A car buyer will complete all this legwork for you, including researching and negotiating a price across their database of dealerships. Using their networks, they’ll be able to do this for you much faster, and often more effectively, than you’d be able to on your own.

Car buying is an end-to-end service which includes finding the car to completing the transaction; test drives will be arranged on your behalf if desired, as well as negotiating the best trade-in value on your existing car and arranging competitive finance and insurance if required.

Ultimately, the benefit of engaging a car buying service is the minimalisation of hassle and the maximisation of savings. You are placed on equal footing with professional car sellers by employing a professional car buyer who can negotiate you the best deal.

Introducing Darren Lewis, Prosperity’s car buying specialist

Prosperity is thrilled to be launching the Smart Drive car buying service, and to have Darren Lewis on board as our car buying specialist. Darren has over 25 years’ experience in Motor Vehicle and Motorcycle sales, and is passionate about achieving outstanding value and savings for his customers. His solid background in vehicle sales means he is an expert at working with dealerships and sourcing the best possible price available.

Let us do the legwork for you

Prosperity Smart Drive makes buying a car easy.

  • We do all the legwork – sourcing models, getting quotes, arranging test drives, ordering and contracts, sorting valuations and arranging delivery
  • We will save you money by getting you the best available price on your new car, and the best available trade-in value on your current car
  • Our extensive experience and expertise means we can assist you in choosing a competitive loan for your personal circumstances

Contact Darren to discuss your next new car today.

 

Prosperity Smart Drive Pty Ltd is licensed under the Motor Dealers and Repairers Act 2013; License No. MD066789

Act NOW if you wish to access immediate tax deductions for your small business

The Government is planning to remove the immediate tax deduction for depreciating assets costing less than $6,500 and the accelerated depreciation allowances for motor vehicles which  are currently available to small businesses (i.e. businesses with an annual aggregate turnover of less than $2 million).  It is important that you ACT NOW to access immediate tax deductions for your small business.  

These concessions were enacted by the previous Government and were to be funded by the Minerals Resource Rent Tax (MRRT). However following the proposed repeal of the MRRT, these concessions will be removed as well. The Bill, if passed, will be effective from 1 January 2014.

Current Rules

Presently, the main concessions available for small businesses with depreciating assets used in the business are as follows:

  • Plant and equipment – Assets costing less than $6,500 are subject to an immediate tax deduction; and
  • Motor vehicles – An immediate tax deduction of the first $5,000 value of the motor vehicle plus 15% of any residual value. The remaining value is allocated to the small business general pool with a rate of 30% to be claimed in subsequent income years.

Impact of the Proposed Amendments

The proposed amendments will remove the current rules and replace them with the following small business concessions:

  • Plant and equipment – The $6,500 threshold will be reduced to the previous limit of $1,000, with assets exceeding the $1,000 threshold to  be allocated to a general small business pool for tax depreciation claims (i.e. 15% tax depreciation in the first year and 30% in subsequent years on a diminishing value basis); and
  • Motor vehicles – No immediate tax deduction will be available. The total cost of your motor vehicle will be treated like any other depreciating asset and allocated to the general small business pool.

It is expected that if the Bill is passed to repeal the MRRT in the new year, the proposed amendments will be applied retrospectively. This means that the repeal of these small business concessions will be expected to commence from 1 January 2014, which is less than four weeks away.

What you can do

If you are an eligible small business wishing to maximise your tax deductions for the 2013-14 income year, it is advised that you bring forward your purchases of the above-mentioned depreciating assets to before 1 January 2014, so you can utilise the immediate deduction concessions currently available to you.

To be able to access these concessions the asset purchased will need to be installed ready for use before 1 January 2014.

Therefore if you have equipment that you know needs to be replaced shortly these concessions may make it worthwhile making the purchase and arranging delivery before the year ends. This could include for example ageing IT equipment or furniture.