New Car or Asset Finance?

Explore Loan Options—Plus What the $20K Instant Write-Off Means for Business Owners”

If you’re thinking about buying a new car, equipment, or another big-ticket asset, you might be wondering:

Should I use my mortgage or take out a separate asset loan?

And if you’re in business—can I claim the instant asset write-off?

We’ve put together a simple breakdown to help you start thinking it through.

First—Check if the Instant Asset Write-Off Applies to You

If you run a small business with turnover under $10 million, you might be able to immediately deduct the full cost of assets (up to $20,000 each) when used for business.

This applies to:

  • New or second-hand assets

  • Assets used or installed between 1 July 2023 and 30 June 2025

  • Multiple assets, as long as each one is under the $20,000 limit

For full eligibility and updates, always check with your accountant and visit the ATO website here:     👉 ATO – Instant Asset Write-Off

WhiteStar does not provide tax advice, but once you know what you are looking for, we’re here to help with the finance solution.

Self-Employed or Not—What’s the Best Way to Finance?

Whether you’re a sole trader, run a company, or are a PAYG employee just needing a new car, one big question is:

Should I add it to my home loan or take out a separate car or asset loan?

Here’s a quick side-by-side to help you compare.

Using Your Mortgage (Top-Up or Refinance)

Pros:

  • Lower interest rates

  • Spread repayments over a long term

Cons:

  • May cost more in interest over time

  • Slower approval process

  • Ties up home equity

Using a Car or Asset Loan

Pros:

  • Faster approval and access to funds

  • Fixed repayments over a shorter term

  • Keeps your home equity separate

Cons:

    • Interest rates are usually higher than home loans

    • May need a deposit or asset to secure the loan

Our Suggestion?

If you are self-Employed speak with accountant first.  They’ll help you figure out if the instant asset write-off applies, and how to make the most of it.

Then, when you’re ready to go ahead with your purchase—whether it’s for work or personal use—talk to WhiteStar about the right finance option.

We Can Help With:

  • Car loans

  • Equipment or asset finance

  • Home Loan Refinance options

  • Asset & Personal Loan Refinances

  • Business cash flow support

EOFY is a popular time to get organised—so if you’re planning to buy, now is a good time to start the conversation.

Let’s chat when you’re ready.

Give us a call 1300 652 842 , jump on live chat, or send and email through your current rate and loan balance—we’ll do the rest.

Or if you’d prefer to start with a bit more info go to CAR & ASSET FINANCE 

We’re here to help when you’re ready.