Thread: D3 lease figures how good/bad

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.

Originally Posted by 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

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.

Originally Posted by 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

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.

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

Originally Posted by DirtyDawg

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

Some of you blokes must be earning serious money!

That's 3 weeks take home pay for me!

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

Ron

Originally Posted by p38arover

Some of you blokes must be earning serious money!

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

Originally Posted by rovercare

About 1.3 weeks for some

Mongrel!

Originally Posted by p38arover

Mongrel!

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