PDA

View Full Version : Leasing a new vehicle



Stuie
15-08-2004, 10:49 AM
Ok as most of you know im looking at a new work ute.Im still tossing up what to get not in a rush as the old ford is hanging together at the moment. :rolleyes:
Ok the question is what is the deal on leasing a vehicle.How much a week month would i be looking at (depends on amount spent here i guess say up to 25K+ if i go for a falcon although kinda looking at a rodeo)
Would a dealer look at a trade in? :i dunno:
Look at a lease arrangement with a residual? (would bring down weekly payments)
What about an import like a light truck low Ks from Japan :i dunno: (insurance issues could be a problem)
THANKS AS ALWAYS
Stuart :aus-flag:

mojo111
15-08-2004, 12:02 PM
Ok as most of you know im looking at a new work ute.Im still tossing up what to get not in a rush as the old ford is hanging together at the moment. :rolleyes:
Ok the question is what is the deal on leasing a vehicle.How much a week month would i be looking at (depends on amount spent here i guess say up to 25K+ if i go for a falcon although kinda looking at a rodeo)
Would a dealer look at a trade in? :i dunno:
Look at a lease arrangement with a residual? (would bring down weekly payments)
What about an import like a light truck low Ks from Japan :i dunno: (insurance issues could be a problem)
THANKS AS ALWAYS
Stuart :aus-flag:

lEASING 100% TAX WRIGHT OFF.incl intrest,insurance.
TRADE IN not sure about that one. :i dunno:
RESIDUAL that depends on who you use and what you agree to. Low payments mean high resdual.ie big pay out at end of lease.
or even the risidual out for the term no big pay out at end.
Plus its yours at the end of term to keep which ever way you go,
allso can claim deprciation

this mite help www.bullion.com.au
they can do finance with no document loan up to $10,000,00
or whatever ya wont with tax record only takes 24hrs
intrest is 7% not bad
hope this helps
PHILL QLD

Rod
15-08-2004, 12:42 PM
I am not a big fan on leasing. The "Big" payout at the end is always a worry. It can be difficult to know how cashed up you might be at the 48 or 60 month end of the lease. Yes of course you can trade at the end and start again.

I reckon a straight business loan or HP is the way to go. At the end you own it. And naturally you pay more as you go.

Leases can be hard to exit before term. You need to really speak with an accountant to get advice that reflects your needs and finances.

Alex Callaghan
15-08-2004, 06:36 PM
I don't think anybody is a big "Fan" of leasing vehicals/equipment but somtimes it is the only way to get what you need.
The upside to leasing would be (as Mojo mentioned) it's tax deductable and also deprecitation is a big factor when leasing.

Stuie, I would strongly suggest taking out at a Lease with a 0% residual value. Having leased alot of things over the years I can say that having a residual value to take care of when the lease is up can really bite you in the ass!
You can plan for it but unless you have a substantial and quick turn over it can effect your cash flow badly.
I don't know what your situation is though!

Leasing dosn't mean you always have to make that residule % payment at the end! You just have to get a lease with a 0% residule value. So you don't HAVE to get a buisness loan to "own the vehical when it's finished!


Also (I think, ask your accountant) if you get a cab-cassis it makes you exempt from paying fringe benifits tax.

Imports can be an issue for insurance as you say and can also be an issue for rego.

Rod
15-08-2004, 07:09 PM
Alex,

Leasing....I don't believe you can claim depreciation when leasing as the Lessor does as they still technically own it.

That has been my experience.

Alex Callaghan
15-08-2004, 07:18 PM
Your right Admiral.

I was thinking Hire Purchase lease and Hire Purchase might be the way to go for Stuie?

pbm
15-08-2004, 10:05 PM
Corporate Hire Purchase (I think thats what you call it) is what I have got with a 30% balloon payment over 5 years. You are able to claim depreciation plus interest which is more than you actually pay in payments. I have had the ute 3 years and now the warranty is about to expire I am concidering trading in to a Falcon or Commodore one tonner for the extra room in the cab and extra grunt. My Hilux has been great..never missed a beat. I paid $22000 on the road and repayments are $390 per month. Hope this is of help to you.