RAM 1500 Ute Review for the Business Owner

Most tradies have a love affair with their Utes, especially when they have a good price point. In this article we take a look at what makes the RAM 1500 the perfect Ute as well as the best way to finance it. At AAA Finance, our low doc car finance option is specifically tailored to the self-employed tradie and small business owner.

It's big, loud and a full-sized Ute that has been successful in the US and has now arrived in Australia. It's large and luxurious and perfect for tradies and their families. It makes light work of any job and more than ready to tackle weekends adventures. They hold everything you need; handle whatever conditions you're working in and look tough.

More than Just A Ute: Explore the RAM 1500 Ute

Like most Aussie business owners or tradies, you want a vehicle that is perfect for the job. This would include a large pick-up tray but also room for the family on the weekend. The RAM 1500 is the ideal combination of this. A tough beast that can carry and tow large loads. It has more than ample space and comfort for family and friends.

The RAM 1500 Ute is a heavy-duty vehicle with a V8 petrol engine, 291kW of power and 556Nm of torque. Nothing in this calibre quite compares with its vast 4.5-tonne towing capacity; it has been described as having the ability to tow two Ford Rangers. It has some beautiful features, including:

• Bespoke stitching
• Practical space inside and in the tray
• Rear seats can fold towards the tray
• RamBox cargo storage
• Removable rubber plugs for drainage
• Adaptive LED headlights
• Rain-sensitive wipers
• Parking sensors
• Airbags
• Reversing camera
• And so many more.

This massive dual cab, while not lightning quick, drives well and always feels well powered. It is a smooth ride, and the steering is light and quite manageable. It has been made so well you don't feel as though you're driving a big vehicle. But it has all that you need and more, including leather upholstery and Bluetooth phone and music streaming.

You will appreciate motoring and room to store all your gear with this high-tech driving experience as a tradie. Now, let's look at the numbers.

Crunching the Numbers with AAA Finance

We're already established that this is a large vehicle, the 2021 model weighing 2749kg, so you're getting a lot of vehicle for a good price. This easy to love luxurious Ute will cost you anywhere between $79,950 - $139,950 plus on-road costs, depending on the model you choose from.

At AAA Finance, we want small business professionals and self-employed tradies to get the vehicle of their choice. Especially one that is safe and has all the features you could possibly want. This is why we offer Business Vehicle Finance for your convenience. 

Business vehicle loans are only available to ABN holders. This type of loan requires you to use your new RAM 1500 for at least 50% of business use. The benefits of business vehicle finance include:

1. Tax Deductions

Using our business vehicle finance means you can claim deductions on the GST portion of the purchase price. It also allows you to claim any interest charged on the loan as a business owner.  

This includes temporary full expensing, which was introduced within the Australian 2021 Budget. This replaces the instant asset write-off. Business vehicles are considered an eligible asset for companies with an aggregated turnover of less than $5 billion, which means the business portion can be deducted.   Please speak with your accountant for all up-to-date taxation rules and how these may apply to your business setup.

2. Competitive Interest Rates

You will appreciate how these loans attract a competitive rate. This is even more so now, during the current economic climate where rates at an all-time low. The low rates are fixed for the life of the car loan, which means the monthly repayment is constant. You know exactly what you have to pay each month. 

Your rate is determined by your credit history, profile and type of vehicle purchased. With rates so low there has never been a better time to get your new RAM 1500.  Find out more about how your car loan interest rate is determine here.

3. Easy Repayments

There's nothing better than knowing exactly how much will be deducted from your account each month when paying back your loan. You can confidently set up a monthly direct deposit and get on with running your business.

4. Balloon Payment Options

A balloon payment, that is a lump sum payment that is due at the end of the loan, is a popular option for small business owners.  Borrowers can choose a repayment plan that results in a smaller monthly repayment, paying off a more significant amount at the end.  Check out how a balloon payment can affect your monthly loan repayment by using our car calculator with balloon payment option.

The process involves a portion of the car value, up to 50%, that isn't included in the monthly loan repayment amount. Instead, the amount has to be paid at the end of the loan term in a lump sum. Either refinance or pay out the lump sum with savings.  Some business owners pay the balloon payment with the proceeds of the vehicle sale. They then upgrade the company car to the latest and greatest model that they now want.

5. Repayments Between 1 and 7 years

You can dictate the terms of your loan. You can choose between a smaller or larger monthly payment, depending on how quickly you want to pay it off and how much you can afford to pay each month.

Get a Ram 1500 Ute with AAA Finance

Running a business is hard work. To make this hard work more manageable, you want to be sure you have the right vehicle.  AAA Finance provides quick and easy business finance so you can have your dream Ute.

We welcome you to discover more about how AAA can help you move forward with your purchase. Contact the team on (07) 5493 1222 or email enquire@aaafinance.com.au, and let's get you out on the road.