The RBA today have left the official cash rate unchanged today at 4.5%.

Although the first half of 2010 has been good, the 2nd half of the year looks like it will be slightly weaker.

Governor: Monetary Policy Decision, Glenn Stevens said “Recent information suggests that the Australian economy has been growing at around trend pace. This has been helped by high levels of public spending over the past year but private demand has also been firming. The high level of the terms of trade is boosting incomes, which will tend to add to demand over the year ahead, while the effects of earlier expansionary policy measures will be diminishing. Indications are that business investment in particular could increase strongly.”

This is the forth straight month, the Reserve Bank of Australia left the cash rate at 4.5%

Looking for New Car reviews and information? Go to newcarsblog.com.au

New Cars Blog is a new website that gives you details and information about new cars, whats happening in the car industry and all the stats and figures that you need to know.

One of the latest news articles New Cars Blog talks about the “New Ford Focus RS Coming To Australia”. After reading this article, I am actually interested in finding out more about the Ford Focus RS as it looks like a nice car, pitty the $59.999 price tag. I think thats a bit rich for a Ford hatch! Having said that it may be worth it.

Another couple of articles talk about the increase in new car sales for the month of July. Its was surprising that Mazda nearly pipped Ford for the number 3 spot for most new cars sold in July. They were only 2 sales away from over-taking Ford. Also Subaru Australia had a record month for new car sales. All in all, I would recommend newcarsblog.com.au. If new data keeps on getting updated it could turn out to be a great site!

For the third straight month, the Reserve Bank of Australia left the cash rate at 4.5%

Economists believe official interest rates may well be on hold for the rest of the year which is a big relief for borrowers. Prime Minister Julia Gillard welcomed the rate decision for families and businesses who were “doing it tough”.

The RBA has implemented six official rate rises from October to May and the full effects of these have not yet been seen. There is a slowing down of housing prices and housing finance demand has dropped over several consecutive months now even though:

• Employment is solid
• The resource sector is strong
• Many property markets are moving at a healthy pace

This is a reflection of the global economic uncertainty.

Reserve Bank governor Glenn Stevens said current interest rates were around the average level of the past decade. “With (economic) growth likely to be close to trend, inflation close to target and the global outlook remaining somewhat uncertain, the board judged this setting of monetary policy to be appropriate,” he said in a statement.

The Reserve Bank of Australia board next meets on September 7, more than two weeks after the Federal Election.

If you’re ready to buy a car and are organising Car Finance for the first time, consider getting Conditional Approval before you start kicking tyres. That way you’ll know in advance if there are going to be any problems with your finance rather than getting caught out after you’ve put down a deposit.

Pre Approval usually lasts for 30 days so you have some time to shop around for the right car.

If you’re not ready to apply for finance but are shopping around for a car, make sure you:

• Are aware of typical loan interest rates
• Know what you can afford in repayments
• Have a good sense of your likelihood of being approved for finance

What finance options are available?

You’re probably considering a car loan or a personal loan. They are very similar products, however a car loan uses the car you’re buying as security for the loan. This typically reduces the annual interest rate charged, however there are usually some conditions for the car to be eligible – for example, it may have to be above a certain value or below a certain age.

Read about our Car Finance Options: Car Finance, Car Loans, Car Lease, Chattel Mortgage, Novated Leasing, Hire Purchase

“Lets Talk Finance”

If you need help with Finance, call our Finance HotLine on 1300 554 553 and talk Finance today.

These simple and potent principles have underpinned the businesses expansion into arguably the largest and most successful finance broking house in Australia.

Platinum Direct Finance has offices Australia wide and introduced volumes in excess of $800 million in 2008. Our reputation and business volumes, mean our customers benefit from our strong relationships with Australia’s biggest finance companies and the major banks, with the most competitive interest rates, and flexible terms and conditions.

In addition to our finance knowledge and industry connections, our team members are industry and equipment specialists. When you deal with one of us, you gain the wealth of experience of the entire group.

Whatever your business, your finance needs are handled seamlessly from start to finish. Our commitment to after sales service ensures you are not on your own after settlement.

Read more »

1300 Car Lease

Looking for expert and professional car leasing information? 1300 Car Lease is the car leasing website packed full of options!

1300carlease.com.au is a Car Lease website that provides detailed information on all car leasing options in Australia.

Commercial Hire Purchase, Chattel Mortgage, Novated Car Lease, Car Lease are just a few of the options found on the site. 1300 Car Lease explains

• What is a Car Lease?
• How does a Car Lease work?
• Residual and terms
• What are the benefits of a Car Lease?
• Who should consider a Car Lease?
• Who should consider a Car Lease?
• What are the tax implications of a Car Lease?
• Are there any other options?

So if you’re in the market for a Car Lease, check out 1300 Car Lease today.

Also check out there latest Car Lease news and Tax Tips.

The Macquarie Leasing Consumer Car Loan is suitable for customers acquiring passenger cars used wholly or predominantly for personal use. The product is governed by the National Consumer Credit Protection Act.

Consumer Car Loan Parameters

Loan amount $10,000 – $150,000
Term 12 – 60 months
Vehicle age Maximum vehicle age at maturity is 9 years
Loan establishment fee $350
Monthly account administration fee $5.50
Payments Monthly arrears or advance
Payment method Direct debit*

Consumer Car Loan Final Balloon Payments

Final balloon payments may be scheduled into the loan where it is not unsuitable for the customer. Only customers assessed by Macquarie as appropriately credit-worthy will be approved for final balloon payments in accordance with these guidelines:

12 – 36 month terms Up to 40% final balloon
37 – 48 month terms Up to 35% final balloon
49 – 60 month terms Up to 25% final balloon
Read more »

Advance Car Loans

Looking for Car Loans and Car Finance information?

Visit Advance Car Loans at www.advancecarloans.com.au

Its a website with down-to-earth information that is easy-to-read for people trying to understand the different types of Car Finance. Advance Car Loans has a easy to navigate menu which makes it easy for fine the Finance you are after.

Its a nice clean website and explains the features and benefits of all the major financing options including Commercial Hire Purchase, Chattel Mortgage, Car Lease, Novated Lease, Personal Loans and all Consumer Secured Loans. Advance Car Loans also explains all Bad Credit and Second Chance Car Loans.

Advance Car Loans takes the guesswork out of owning a vehicle by helping you choose the right car at the right price. They can advise you on how to best structure your purchase and manage your vehicle in the most tax effective way. With these strategies they can save you thousands, either on a new or used car, dealer or private sale or even on your existing vehicle you drive right now.

So visit Advance Car Loans today and check them out for yourself.

Prime Minister Julia Gillard has announced a Federal election for Saturday August 21.

At 10:30 this morning, Prime Minister Julia Gillard flew to Canberra to ask the Governor General to dissolve parliament and call a general federal election for August 21. when you think about the election and the past couple of months, the election is bound to be a close one. Julia Gillard vs Tony Abbott. Labor vs Coalition. Woman vs man. Who will win?

The Labour Parties election slogan, as expected, will be “Moving Forward”, an expression Prime Minister Gillard used repeatedly at a press conference at Parliament House.

At her press conference, Prime Minister Gillard spoke of restoring and maintaining the budget surplus, education, health and building a sustainable Australia as the main themes of her election campaign.

What’s important to you?

Before you vote, make sure you know the issues and policies held by local members, senators and their respective parties. What’s important to you in this election? Who best represents your interests? Oh, and make sure you check your registration!

Platinum Direct Finance Novated Lease Quote

Novated Lease Quote

Looking for a Novated Lease Quote? Call Platinum Direct Finance today on 1300 353 383 and talk to one of our experienced Novated Leasing consultants.

Once you receive your fully maintained Novated Lease quote, this is how you read it.

VEHICLE DETAILS

This indicates breakdown of onroad cost, full description of vehicle and nominated annual travel kilometres.

LEASE DETAILS

The Setup Fee is the financier documentation fee included into lease payments. The Fully Maintained Novated Lease residual is generally set within ATO guidelines which is determined by lease term.
Read more »

What is the Vehicle Integrated Program (VIP)?

The Vehicle Integrated Program (VIP) is a Fully Maintained Novated Lease, a highly tax effective form of vehicle financing. It involves a Novation Agreement between an employee (you), your employer and a financier. This agreement allows a substantial proportion of the vehicle finance and the costs associated with owning a vehicle to be deducted from your pre-tax income. As a direct result, you will gain substantial tax-savings boosting your disposable income.

Which vehicle expenses are included?

• Vehicle Finance
• Fuel
• Maintenance
• Tyres
• Comprehensive Insurance
• Vehicle Registration Renewal
• Compulsory Third Party (CTP) Insurance
• Australia-wide Roadside Assistance

Benefits of the Fully Maintained Novated Lease to the Employee

How do you Benefit from the Vehicle Integrated Program (VIP)

Pay Less Tax: An extensive proportion of the vehicle expenses are taken from your pre-tax income therefore reducing the amount of income tax you pay.

Save on GST: Your employer is able to claim back a sizable portion of the lease associated GST. The financier is also able to claim back the GST on the purchase price of the vehicle, therefore you will finance the vehicle price GST exclusive. Read more »

Platinum Direct Finance

We proudly specialise in the field of car finance, particularly in secured car loans, novated leases, commercial hire purchase (CHP), chattel mortgages as well as many other finance options.

The fact that our finance consultants have access to many different finance products from numerous lenders, this generally means they will get a better deal than the bank! Add to that the volume of loans we have approved, it all adds up to the best interest rates available.

Our finance consultants will step you through the process of applying for your car loan, making it very easy Read more »

The Reserve Bank of Australia (RBA) has left the official cash rate unchanged for a second consecutive month at 4.5 per cent.

The central bank’s decision in July to keep its key cash rate at 4.5 per cent was widely expected and marks the second consecutive month of unchanged rates, as the RBA assesses the pace of the local and global economic recovery.

In a statement accompanying the decision, RBA governor Glenn Stevens said “The current setting of monetary policy is resulting in interest rates to borrowers around their average levels of the past decade. Pending further information about international and local conditions for demand and prices, the board views this setting of monetary policy as appropriate,”

The RBA has lifted the official interest rate six times since October in a bid to curb excessive spending while the economy continues to expand.

Since May, however, clouds of uncertainty have gathered over global markets with fears of a renewed debt crisis rising in Europe, while the rebound in the US economy appears weak.

The RBA expects Australia’s terms of trade to improve around 20 percent this year.

Buying a used car? Buyer beware!

Platinum Protection Pack

What is Platinum Protection Pack?

There are many traps that buyers can fall into when purchasing a used vehicle from a private seller, a non franchise dealer or auction. This is why we have created Platinum Protection Pack! For just $195.00 you receive the following:

Marshall’s Vehicle Inspection

This is a sighting inspection performed by one of Australia’s most respected roadside automotive battery providers. They will check and verify all vehicle identifiers and take photo’s for the financier.

V Check

This checks original vehicle identification details and history including first date of registration, transfer history, and purpose of use, odometer readings at transfer where available. it also details stolen status, written-off status, and effective date of registration.

Register of Encumbered Vehicles, REVS check

Checks for money owing on the vehicle.

At Platinum Direct Finance Australia we want all our clients to enjoy their new vehicle purchase and with the help of the Platinum Protection Pack, its the first
step towards making a successful purchase.

If your finance broker or bank can’t assist you with this, ask them Why Not? Talk to an experienced Platinum Direct Finance consultant today on 1300 554 553.

Disclaimer – Platinum Protection Pack is not a mechanical inspection.

When looking for Car Finance it is important to not only consider the repayment amounts and interest rates of different loans, it is also wise to weigh up the varying fees, terms and conditions of these loans. Variations in fees, terms and conditions can add hundreds and sometimes thousands of dollars to the total cost of the loan.

Platinum Direct Finance can provide you with finance that has

• Low application fees
• No monthly or annual account keeping fees
• No early exit penalties
• No retained interest charges

Retained Interest is future, currently unpaid interest that the vast majority of Australian lenders will charge if the loan is paid out early. For further information please call your Platinum Direct Finance consultant on freecall 1300 554 553

New Car Buying Tips

Platinum Direct Finance offers a Vehicle Sourcing Service for all new cars. Read more »

What should I do? just a standard Novated Lease or a Fully Maintained Novated Lease?

Novated Lease or Fully Maintained Novated Lease

There are many answers to this question which depends on your individual situation. To answer a question with a question; do you have a lot of business use for your vehicle?

If NO, then a fully maintained novated lease is one of the only ways you can receive a taxation benefit for the running expenses of your vehicle. Items such as fuel, rego, car-insurance, servicing and repairs can come from your salary pre-tax sometimes saving you big $$ on these everyday running expenses.

If YES, then there is really no difference in taxation benefit, when you consider this situation. If you have 80% business use for your vehicle, no matter what finance option you decide on, you can claim 80% of the running costs in most cases. So really you can have the best of both worlds, do a standard Novated Lease and receive the taxation benefit on the finance every time you get paid and claim the business use on the running costs at the end of the financial year. Read more »

At Platinum Direct Finance we understand that finance is not always a 9 to 5 proposition. That is why our experienced finance consultants are now available 7 days a week for your convenience.

Here are our new operating hours.

Platinum Direct Finance offers finance to customers throughout all of Australia. Our head office is based in St Leonards, Sydney with other offices in Melbourne, Adelaide, Perth and Brisbane. We provide finance for cars, boats, bikes, homes, equipment and everything business.

We offer a wide range of financing options including commercial hire purchase, chattel mortgage, finance lease, car loans and the best novated leasing program in Australia. We also pride ourselves in providing our customers excellent service and our 25+ experienced finance consultants are ready to help you with all your financing requirements now.
Read more »

Found your dream car but don’t have enough funds to buy it? Well, you’ve come to the right place.

At Platinum Direct Finance we intend to help you get the car of your dreams even if you don’t have enough cash in your bank account. We offer you with lots of information regarding car loans & car finance to guide you in choosing the right one.

There are several factors that you have to take into consideration when you’re looking for a means to finance your car. After all, you need to make sure that you’re getting the best deal possible. Among the things that you have to think is not the interest rate but the overall month cost of the loan you’re planning to get. It’s best to check out different loan offers and see which one will give you the best deal. Another thing that you have to pay attention to is the repayment period. Read more »

The closing of Suncorp, GE, GMAC, and Ford Credit (retail sector) in the motor vehicle finance market has raised concerns among their clients wishing to refinance their residual values and balloons. A number of these exiting financiers are keen to reduce their loan book as quickly as possible and are even offering favorable early payout calculations to clients wishing to terminate their loans. Platinum Direct Finance can assist you to get through this transitional period, and is pleased to offer the following streamlined methods of when refinancing passenger vehicles of the mentioned financiers: Read more »

Official figures released by the Federal Chamber of Automotive Industries (FCAI) show that 23,211 motorcycles, scooters and all-terrain vehicles were sold in the first quarter of this year – a decrease of 12.2 per cent (3,215 units) over the same period in 2009.

“This has been a slow start to the 2010 sales year with a uniform decline across all categories,” FCAI Chief Executive Andrew McKellar said.
Read more »

The Federal Chamber of Automotive Industries (FCAI) has elected GM Holden Chairman and Managing Director, Mike Devereux, as its new President.

Mr Devereux replaces Alan Batey who stepped down as Holden Chairman and MD and FCAI President to take up a senior position with General Motors in the United States.

“I am humbled to be elected to represent the Australian automotive industry as President of the FCAI,” Mr Devereux said.
Read more »

As of 1 July 2010 the luxury car tax threshold will increase from $57,180.00 to $57,466.00.

This will mean the maximum GST claim allowable will be $5,224.18.
Read more »

The new car market posted a record May sales result with all vehicle segments performing strongly.

Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) showed that 89,218 passenger cars, SUVs and commercial vehicles were sold in May, up 18.3 per cent (or 13,777 vehicles) on the same month in 2009.

The result beats the previous monthly record set in 2008 by 578 units.

All car sales increased during the month, demonstrating a genuine recovery in the marketplace.

The SUV segment again led the charge in May with an increase of 28.9 per cent; followed by passenger cars (up 19.4 per cent), light commercials (up 6.4 per cent) and then heavy commercials with a 3.7 per cent increase.

It also showed private buyers have returned in larger numbers during May (up 27.2%) taking over some of the momentum that business buyers have provided over the past year.

Toyota retained the top selling position in May with a market share of 20 per cent; followed by Holden with 12.8 per cent and then Ford with 10.1 per cent.

Year-to-date, 422,446 vehicles have been sold, an increase of 19.9 percent compared to the first five months of 2009.

Lets Talk Car Finance

If you are about to purchase a new car, give Platinum Direct Finance a call 1300 554 553 and talk Car Finance with an experienced finance consultant.

Please note: This is a summary of an AELA Advice only and is intended for general information purposes only, and should not be construed as professional advice. Readers should seek professional advice from their accountants.

Eligibility – 30% Investment Allowance:

1. Purchases of new and used, tangible depreciating assets used in carrying on a business.

2. Small businesses turning over $2 m per year or less – minimum cost price excl GST is $1,000.

3. Other businesses turning over $2 m per year or more – minimum cost price excl GST is $10,000.

4. Asset to be acquired between 13^th December 2008 and 30^th June 2009 and installed by 30^th June 2010.

5. Allowance is provided as an additional tax deduction. Clients claim 130% of the cost price with an outright 30% deduction claimable in the income year in which the asset is installed ready for use, and the remaining 100% over the effective life of the asset. Read more »

Up to 160 jobs will be lost after a Ford Credit Australia announced it is winding down part of its Australian operation.

The decision, which comes as the Australian car industry faces its worst sales performance in 30 years, means private car buyers will no longer be able to seek finance from the company, Fairfax reported on Thursday.

Read more »

Prime Minister Kevin Rudd says $4.7 billion will be spent across a range of transport, rail, roads and education infrastructure as part of the Government’s measures to keep growth and productivity strong as the global financial crisis continues to bite.

Read more »

Payout your car finance early, the rule of 78 works for you. Payout your car finance later in the term, does it really make a difference using the rule of 78?

It is common for luxury car financiers in Australia to use the outdated “Rule of 78″ calculation when determining early payout amounts for clients. This method, discouraged by the ATO, penalises most early payout customers as it does not account for interest on an actuarial basis.
Read more »

KEVIN Rudd will forge ahead with a multi-billion-dollar car industry assistance package today, amid fears of further job losses and a downturn in the market, but he will warn manufacturers not to expect a blank cheque.

Focusing on fuel-efficient cars, the new stimulus package is expected to go beyond the $2.5 billion in extra funding previously flagged, significantly boosting the Government’s proposed green car innovation fund.

Read more »

Being part of the Platinum Direct Finance group of companies, Platinum Car Loans will soon have access to the only bank car finance product with no payout penalties.

Read more »

It might be more convenient or easier to get car finance from the car dealer, but it may not be the best deal! Banks, credit unions and other financial institutions usually will be cheaper and more flexible.

If you sign anything at the dealership, it will probably be a contract of sale.

You may also sign a car loan application or car loan contract.

A contract is legally enforceable, so make sure you read it carefully before signing. Don’t sign unless you understand what you are signing and you’re certain that you’ll be buying the car. If in doubt, always seek further advice.

Read more »