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Thread: Leasing a vehicle

  1. #1
    MEMBER Fred's mowing's Avatar
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    Default Leasing a vehicle

    Time to buy a new vehicle.
    Bit old school & always bought ours.
    Im hearing that leasing is the way to go.
    All your lease payments are totally tax deductible but, so are loan payments.
    Who leases their vehicle & what are the advantages?
    Cheers Fred.

  2. #2
    Member brett73's Avatar
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    Default Re: Leasing a vehicle

    I'll be watching with interest as I'm thinking about doing the same thing real soon.

  3. #3
    Senior Member BSD's Avatar
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    Default Re: Leasing a vehicle

    Its good as long as your stable to keep up the monthly pmt's, I leased a vehicle for my other job and the 50% residual at the end of 4 years was more than it was worth, otherwise its ok in my opinion, I wonder what the value on a Great Wall ute would be after 4 years, I reckon not too good.
    Quote Originally Posted by Fred's mowing View Post
    Time to buy a new vehicle.
    Bit old school & always bought ours.
    Im hearing that leasing is the way to go.
    All your lease payments are totally tax deductible but, so are loan payments.
    Who leases their vehicle & what are the advantages?
    Cheers Fred.

  4. #4
    Senior Member m287j's Avatar
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    Default Re: Leasing a vehicle

    I've leased vehicles in the past, it's a good option. As you say the lease payments are totally tax deductible.
    Main advantage with a lease is the payments are lower than a personal loan as there is a residual (balloon) payment at the end of the term of 30 to 60%.
    You can generally roll over the balloon into another lease if you want at the end too, otherwise just pray your vehicle is worth more than the balloon payment and upgrade vehicles again.

  5. #5
    Member sharpie's Avatar
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    Default Re: Leasing a vehicle

    I have a Navara d40 that I lease, with the interest rates Nissan have from time to time (1% and 0%) and other manufacturers too its hard to see how banks can compete.
    38 grand for auto st model, tub liner, tint, tow bar, nudge bar, bonnet protector and floor mats drive away with a 45% residual after 3 years. Thats less than the previous one three years ago with more extras and a lower interest rate.
    They are desperate, take advantage of it and drive a hard bargain.
    Sharpie.

  6. #6
    Senior Member geoff's Avatar
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    Default Re: Leasing a vehicle

    would seriously talk to your accountant , sometimes buying on cheap finance is another option as interest is tax deductible not to mention the gst that you claim straight back

  7. #7
    Member sharpie's Avatar
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    Default Re: Leasing a vehicle

    I'm married to my accountant so I have to talk seriously to here on a regular basis , and while she is not a taxation accountant she specialises in forensic accounting so hope she knows what she's doing. At the end of it all though I just want to spend as little as possible and drive the car of my choice that gets me off road when I want, pulls the work trailer every day with ease and fits my motor bike in the back on a weekend.

    Sharpie.

  8. #8
    Senior Member bb1's Avatar
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    Default Re: Leasing a vehicle

    Quote Originally Posted by sharpie View Post
    I'm married to my accountant so I have to talk seriously to here on a regular basis ,

    Sharpie.

    Just watch it, I was married to my book keeper, and when I gave her the flick from both jobs, I found all the errors that she had made

  9. #9
    Member sharpie's Avatar
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    Default Re: Leasing a vehicle

    After 18 years married and she works in law inforcement I'd like to think I'm safe.

    Sharpie.

    P.S. she doesn't realy look like marilyn.

  10. #10
    Senior Member BSD's Avatar
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    Default Re: Leasing a vehicle

    I have an opportunity to buy a great wall tabletop ute, its a 2012 model with about 20,000 on the clock, I know he paid around $18k drive away, how much do you think its worth now.

  11. #11
    Member Victoria PhilG's Avatar
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    Default Re: Leasing a vehicle

    Quote Originally Posted by BSD View Post
    I have an opportunity to buy a great wall tabletop ute, its a 2012 model with about 20,000 on the clock, I know he paid around $18k drive away, how much do you think its worth now.
    Slab of beer.....that's all I would pay for one.

  12. #12
    Senior Member BSD's Avatar
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    Default Re: Leasing a vehicle

    I was thinking a 6 pack, mmm, i've read too many crappy reports about them, along the Chonda kind of reports.
    Quote Originally Posted by PhilG View Post
    Slab of beer.....that's all I would pay for one.

  13. #13
    Member Victoria PhilG's Avatar
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    Default Re: Leasing a vehicle

    Quote Originally Posted by BSD View Post
    I was thinking a 6 pack, mmm, i've read too many crappy reports about them, along the Chonda kind of reports.
    Yeah maybe a slab is too much.

  14. #14
    Senior Member imoww's Avatar
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    Default Re: Leasing a vehicle

    After 2 years repairing the Old Rodeo every now and then, I updated to a new Nissan Navara last year. It works out cheaper to run than the old Rodeo.
    The lease is one where there is not ballon payment at the end and its all mine.
    For me...The Rodeo was $200 per week in petrol. (Plus repairs etc.) The Navara is $100 per week.
    Plus. having a new vehicle looks good for business...
    Everything looks good with a haircut.... ɐuıɥɔ ɯoɹɟ pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐl ǝɥʇ sʇɐɥʇ

  15. #15

    Default Re: Leasing a vehicle

    Quote Originally Posted by BSD View Post
    I have an opportunity to buy a great wall tabletop ute, its a 2012 model with about 20,000 on the clock, I know he paid around $18k drive away, how much do you think its worth now.
    Got a client who has had one for a few years. He has had a lot of problems with his big and small continually. Didn't ask exactly but the gearbox went in the first year I think

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