Capricorn, Australasia’s largest automotive cooperative, is helping its Members access the capital they need to expand through CAP ezi-finance.

According to Capricorn’s State of the Nation Report in 2022, 40% of Capricorn Members are planning to increase the capacity of their workshop. As the End of the Financial Year is near, Members looking to improve and expand their business are encouraged to use the End of Financial Year tax incentive opportunity and Capricorn Finance to ensure that their workshops are up to date with the latest equipment and tool technology.

“Capricorn understands that upgrading existing equipment or purchasing new equipment can significantly increase a workshop’s capacity and capabilities. Capricorn Finance is available to Members to help them achieve this,” explained Bradley Gannon, Capricorn CEO of Automotive.

Updating essential workshop equipment allows increased customer capacity and the ability to work on more modern vehicles, while state-of-the-art diagnostic equipment ensures correct and timely parts replacements.

Many Capricorn Members have benefitted from the 2022 End of Financial Year equipment loans with the most popular items purchased being hoists and lifts, diagnostic scan tools, tyre changers, wheel aligners and wheel balancers, aircon service equipment and brake lathes.

As cars become increasingly complex, electric vehicles become more prevalent and technology advances, Capricorn Finance ensures workshops are equipped for success with industry competitive rates, zero set-up fees and the ability to earn 1.5 Capricorn Rewards Points on the value of any loan.

“Capricorn Finance is here to help our Members finance the equipment that they need to build a stronger business,’ Mr Gannon added.

Maximise the Federal Government’s Temporary Full Expensing incentive for business plant, tool and equipment purchases. Qualifying businesses can immediately claim the business portion of the cost of purchasing or upgrading an eligible asset on their next tax return. Any eligible asset that is first used, held or installed and is ready for use for a taxable purpose before June 30, 2023 can be claimed. (For full details, visit the Australian Taxation Office website - ato.gov.au).

Capricorn Finance offers all Members an easy way to purchase equipment loans with some Members receiving pre-approval for loan amounts up to $30,000. Interested Members are encouraged to discuss their options with the Capricorn Finance team by calling 1800 327 437 or by emailing lending@capricorn.coop.

To be part of the Capricorn community and to enjoy the benefits of a Capricorn Membership visit capricorn.coop

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