D3 lease figures how good/bad

[HSVRangie]

First round figures:

48 months 45% residual, having them reworked to 40%.

D3 SE V6 $64k $1074 month.
D3 SE TD $81,265.00 $1364 month.

Michael.

[HSVRangie]

40% residual figues now in.

D3 V6 $1130.00 month.
D3 TD $1435.00 month.

Michael.

[mns488]

what did you want to know about them? about 8.7% p/a interest.

not to bad

[stevo68]

Yep Im a finance broker and not to bad, though could do for about $10 a mth cheaper :cool: if it is done as a commercial deal,

Regards

Stevo

[cartm58]

lol for that sort of money get a loan and buy a house as a renter or get a loan and buy shares better investment than a D3

[WhiteD3]

$960 over 4 years on CHP, 40% residual.

But that's on the 57k as there's no point in leasing higher than that as you can't claim it on tax.

[HSVRangie]

thanks all.

just checking the deal. seemed ok.

has to be a novated lease. (steve)

company policy.

Michael.

[HSVRangie]

lol for that sort of money get a loan and buy a house as a renter or get a loan and buy shares better investment than a D3

has to be spent on a car.

D3 prefered other a vx prado or another sedan.

Michael.

[spudboy]

$960 over 4 years on CHP, 40% residual.

But that's on the 57k as there's no point in leasing higher than that as you can't claim it on tax.

It's not the price of the lease that is relevant. It is the price of the car.

The tax dept will divide the cost of the car into the threshold limit, so for example on the Diesel: $58K / $81K = 72%. This is how much of the lease you can claim.

[WhiteD3]

It's not the price of the lease that is relevant. It is the price of the car.

The tax dept will divide the cost of the car into the threshold limit, so for example on the Diesel: $58K / $81K = 72%. This is how much of the lease you can claim.

Yes, but in my case under CHP I'm not claiming the lease, just costs and depreciation.

Can I just say at this point that yes, its a s#$! load of money and certainly more then I wanted to spend. But I bought the SE on the 64k drive away deal (which I see is on again) which I think is exceptional value for what you get compared to a Patrol, Cruiser, Prado, Pajero.

[DirtyDawg]

I'm Glad I'm to finacialy thick to understand how this works.. I buy all my vehicles cash and my accountant hates me for it;)

If I told the wife through the business she could have a RR sport or even the real one she would go for it.. what sort of car could you have for say $2000 per month and how much would be a tax deduction...keep it simple I'm a builder..and type slow as I cant read fast;)

[drivesafe]

Hi Dirty, just been through it myself and for that sort of money you can easily get an RRS.

I was after an RR TDV8 but there’s none to spare and about a 4 to 6 month wait, so I’ll just have to wait.

It does pay to shop around for finance.

Personally I think you will be a lot happier with a D3 SE V6 and save a bucket of money.

The RRS is fun to drive BUT I would not like to drive one any great distance and there is HEAPS more room, in every aspect, in the D3 over the RRS.

When ever I put one of my LRs in for a service, I now request a D3 rather than have an RRS, there just not as comfortable, even if it’s just for the day.

My 2c worth.

[mns488]

I'm Glad I'm to finacialy thick to understand how this works.. I buy all my vehicles cash and my accountant hates me for it;)

If I told the wife through the business she could have a RR sport or even the real one she would go for it.. what sort of car could you have for say $2000 per month and how much would be a tax deduction...keep it simple I'm a builder..and type slow as I cant read fast;)

Simply put: talk to your accountant before doing it.

as said previously you can only claim depreciation up to $57009. Then (as it is your company i take it) you either have to pay frindge benefits tax or do a frindge benefits tax reimbursement... can add up.

check with your accountant, he knows your personal circumstances.:)

[jik22]

lol for that sort of money get a loan and buy a house as a renter or get a loan and buy shares better investment than a D3

Depends - I've just done a novated lease/buy back on my D3, and the 8% interest is peanuts compared to the tax savings from paying for the lease and all maintenance from pre-tax salary. Plus offsetting the $66k from the car against the mortgage for three years until I have to give the residual amount back. :D

[stevo68]

I'm Glad I'm to finacialy thick to understand how this works.. I buy all my vehicles cash and my accountant hates me for it;)

If I told the wife through the business she could have a RR sport or even the real one she would go for it.. what sort of car could you have for say $2000 per month and how much would be a tax deduction...keep it simple I'm a builder..and type slow as I cant read fast;) Thats ok mate, I have quite a few clients who are builders ;). In real simple terms there is no tax advantage to paying cash. Capital ie cash should be used to develop, grow, further the business, not put into a depreciating liability. Example investing $20k into ones business or investment is most likely going to yielda pay off down the track. Purchasing $20k' worth of vehicle, plant, machinery is definately going to yield a lesser figure in the same time frame, so therefore if one has to make purchases for a business, it is looking for the most tax effective way of doing it. That way is via a finance structure of some sort.

I do most of my clients vehicles on a Chattel Mortgage where they claim the GST upfront and in their next BAS statement and then general costs, interest, depreciation from there.

Regards

Stevo

[p38arover]

what sort of car could you have for say $2000 per month

Some of you blokes must be earning serious money! :eek: :):)

That's 3 weeks take home pay for me! :(

(And I presume I'm better paid than some others on here!)

Ron

[rovercare]

Some of you blokes must be earning serious money! :eek: :):)

That's 3 weeks take home pay for me! :(

(And I presume I'm better paid than some others on here!)

Ron

About 1.3 weeks for some:angel:

[p38arover]

About 1.3 weeks for some:angel:


Mongrel! :mad:


:D:D

[rovercare]

Mongrel! :mad:


:D:D

Yet if you looked at me, you would think I didn't have a job:D and a tightass:o but paying my house of is no 1 priority:)

[spudboy]

DirtyDawg - the $2000/month is a big commitment. I presume you are self employed. When the money is rolling in it is fine, but it is every month for 3 or 4 years and you have to think what happens if you get a few quiet months in a row.

I leased my previous car at $1950/month and I was ever so glad to end the lease and stop making those payments. I guess it allowed me to drive a nice car without tying up any of my capital, but it is a pretty relentless drain on the business month after month.

[WhiteD3]

Guys,

3 years ago my younger brother died of Leukemia at the age of 40, leaving his wife and 5yo son with a house and some super.

I was 42 at the time and had worked my ass off for years, getting the nice house, everything my boys and the Mrs could want for, etc, and always promising myself that "one day" I'd get my get dream 4WD and do stuff for me.

So, I now work hard but drive a D3 SE (or it could have been a series 1 or RRS, whatever), have joined GCLRO and am looking forward to many adventures.

My point is there's a reason why we work, and that's to get money. You can save it up for retirement, make yourself "one day" promises, etc, but there's got to be some balance there so you, your inner you is fulfilled.

Deep and sad I know, but there you go....


So, if you can afford $2000 or $960 a month, then bloody do it. You could be dead next week!

[jik22]

So, if you can afford $2000 or $960 a month, then bloody do it. You could be dead next week!

Too true, unfortunately? :(

The trick is trying to balance living the way you want now, with a comfortable retirement plan, and a decent inheritance for the kids so they have a good start in life.

I think I'm on track with this, but there are always so many toys I want....2 more guns to be added to the cabinet in the next month, and the final bits for the Fender means the kids will be inheriting a bit less in a few years time, I'm afraid.
;)

[DirtyDawg]

Some of you blokes must be earning serious money! :eek: :):)

That's 3 weeks take home pay for me! :(

(And I presume I'm better paid than some others on here!)

Ron
Uncle Ron I get paid for what I do..if I work real Hard I get real rich..if I'm slack and dont go hard then I will remain Not so rich.....;) There are days when I walk in have a shower, 1 x beer and then fall asleep totally exhausted....No Lay..No pay:)
I will never get rich working with my hands but I can get damn comfortable;)

[p38arover]

Don't get me wrong, I'm not complaining nor am I envious. :angel:

I don't work hard. I'm paid reasonably well for the very little I do. I'm aiming for retirement, not to make millions. I don't want to work hard anymore. I've got reasonable super and I don't intend to leave my kids an inheritance. They can earn and pay for their own goodies!

I'm rebuilding my P38A engine for a few months of those lease payments and a lot less than a year's depreciation - and maybe even a couple of years of service costs! :D

My problem is that I'm still stuck in the Seventies for prices and I hate paying the amounts that people are now asking for repair work.

Ron

[WhiteD3]

I'm starting to feel (a little) guilty here.

I should say that I use my car for work and average say 75% business kms so while its a hell of a lot to pay for a car, even a D3, I can claim 75% of the costs and depreciation back from the ATO. This makes the costs involved a little easier to swallor (and justify to SWMBO)

I suspect this will be the case for most of forum members with more expensive rides.