Is it time to upgrade your business equipment or company car?

There are two reasons why it's a great time of year to upgrade your company vehicle, your business machinery or equipment. 1. You can save money buying at the End of Financial Year sales. 2. You can potentially maximise your tax deductions for this Financial Year, which could also help to make your purchase more affordable. Let us help you organise finance that fits. We can access a wide range of specialist small business, machinery, plant and equipment lenders - and that means we can tailor a competitive finance solution to fit your business needs. That could be secured finance, unsecured finance, or a wide range of other finance options. We can work with your accountant to help you decide what sort of finance works best for your business needs and allows you to maximise your tax deductions. You could...

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EOFY is approaching! Could your small business take advantage of the $20,000 instant write-off?

Are you a small business owner? EOFY is approaching!! Time is running out! Does your business need new equipment? Perhaps a new work vehicle? New machinery? or updated computers & printers? The Government announced in the 2017 Federal Budget an extension of the instant write-off for assets purchased costing less than $20,000 for small businesses. This deduction can be used for each asset that costs less than $20,000, whether new or second-hand. You can claim the deduction through your tax return, in the year the asset was first used or installed ready for use. If there is insufficient cash in your business to purchase the item you may be able to apply for finance. At Wyze Finance we have access to multiple lenders that provide suitable loan products to small businesses. If you require finance to purchase an asset for your small...

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Crazy dealership interest rates! Have you ever wondered how they do it?

I am sure you’ve heard of low rate car financing from car dealerships. Sometimes they offer crazy rates as low as 0% p.a. Have you ever wondered how they do it? If a deal sounds too good to be true, it probably is. The truth is that using dealership finance can take away your ability to negotiate on price. The discounts and rebates that car manufacturers regularly offer, can just disappear! You also need to look at the total cost of the finance over the loan term!  What is the monthly loan repayment?  Are there fees added each month?  Is there a lump sum residual amount payable at the end of the loan term? What are the fees if you repay the loan early?  It’s not just the interest rate that needs to be considered. As your finance broker, we’re here...

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Federal Budget 2017 and the Lending Implications

Well another Federal Budget done and dusted!  Here’s a bit of a summary on some points that have lending implications for individuals and small business. I have covered key topics of housing affordability, investment property, small business and Self-Managed Super Funds. Housing affordability Whilst the Federal Budget released on the 8th May did deliver benefits for prospective home buyers, it didn’t really deliver many big-ticket items to improve housing affordability in the short term. The key measures proposed in the Federal Budget to increase housing affordability were: * First Home Super Saving Scheme * Concessions for people over 65 downsizing their home * Tougher rules on foreign investment property First Home Super Savings Scheme This scheme allows first home buyers to contribute their savings from their before-tax income into their superannuation fund, and be taxed at the 15% superannuation tax rate...

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Are Fixed Rate Loans the new flavour of the month?

I’m sure you’ve noticed in the media lately that the big four banks have increased their variable home loan interest rates.  Whilst most increases have been for investment-loan interest rates, some lenders have also marginally increased their owner-occupied interest rates. As more lenders could potentially start to lift rates, we may see more borrowers choosing to fix their rates to avoid further rate hikes and provide themselves with certainty around their regular mortgage repayments.  However, it is important to know the ins and outs of fixed-rate loans before committing to one. What is a Fixed Rate Loan? When purchasing a property or refinancing, borrowers can decide between fixed-interest loans that maintain the same interest rate over a specific period of time, or variable-rate loans that charge interest according to market rate fluctuations. A fixed-rate loan is a type of mortgage...

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Line up a car loan for the New Year car sales!

January and February is a great time to buy a car. Car dealers all over the country will be clearing last year's stock at knock-out prices. So, if you want to take advantage of the New Year car sales, get ready by talking to us about your finance now. Why talk to us? It's important that you get a car loan that's affordable, competitive and tailored to fit your personal financial circumstances and goals. Car dealership finance is not tailored to individuals – it's often locked in to the full price of the car and repayment terms can sometimes be too short for many people to afford. There are many options available to finance the purchase of a motor vehicle. One option is to use any available equity in your home. This could be by either an increase in your...

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It’s no secret! Here’s how a finance broker can help you!

Save time to help you buy your dream home! The choices now available in the mortgage market can seem limitless and completely overwhelming. There are hundreds of different loan products across many different lenders that all have different product features, such as variations of interest rate, fees, off-set accounts, split facilities, loan portability. Finance brokers save you time by doing all the leg work for you and quickly identify a selection of lenders and products that you can choose from. Finance brokers can organise a pre-approval so that you are ready to bid at auction or confidently make an offer on your dream home. If you are purchasing a new car or equipment for your business we can also save you time in finding the right finance for you. We take the stress and guess work out of applying for...

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You don’t need to be wealthy to buy your first investment property!

While you may not need a six-figure salary to invest in property, those who earn a relatively low to average income will require a little more creative thinking to start a portfolio. Here are some tips to help you get started. Find an investor-friendly loan The challenge for low-average-income earners is the time taken to save for a sufficient deposit. Some lenders require a higher deposit for an investor than is required for an owner-occupier, so seek out a lender and loan that is investor friendly, or consider living in the property for a period after the purchase before converting it into an investment property as your portfolio grows. In any case, having at least 10 per cent of the property’s purchase price as a deposit will not only increase the likelihood of loan approval, it will also increase your...

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How to invest in property through an SMSF

For several years, self-managed super fund members have been able to invest in residential property. However, there are many strict guidelines that must be followed. The first step is to have a discussion with an expert to determine whether investing through an SMSF is the most appropriate approach to property investment given your personal circumstances.  The expert would be a Financial Planner who can assess your current financial situation and plan your future financial needs for both the short and long term leading into retirement.    If you decide that an SMSF is the way forward then the next step is to set up the SMSF, it is recommended and that you use the services of a specialist to do this.  It is important that you do this before you start looking at an investment property to buy using your SMSF....

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