Guest KiwiXR6T Guests Posted 20/02/03 04:53 AM Share Posted 20/02/03 04:53 AM HiyaA couple of questions for those of you who have purchased your Xr6's through a Novated lease:1) If you want to do 'upgrades' in the future, who pays?..... how?....... depreciation taken into account?eg. If you decided to upgrade to premium brakes etc....2) What type of fuel are you putting into your car? Did you have a say in this?My car SHOULD be here in the next couple of weeks (yeah right)..... It's like waiting for Xmas when I was a kid!!! The days are so freakin long now...... are we there yet? Link to comment Share on other sites More sharing options...
Falchoon I see red Member 5,758 Member For: 22y 1m 7d Location: nowhere in particular Posted 20/02/03 05:38 AM Share Posted 20/02/03 05:38 AM Just talking to my work mate who should be picking up his new e-gas wagon in a couple of days. He has novated lease. With mods you pay for them but maybe (he's not sure on this) if your contract includes all the servicing, petrol, tyres etc and you don't spend all the allocated money he reckons the leasing company gives you that money back (you might have t pay tax though). So in theory you could use that for mods.With fuel, he gets a MotoPass? card that is valid at most servos around the country, different leasing companies could have different arangements though. Link to comment Share on other sites More sharing options...
wig Member 21 Member For: 21y 11m 26d Location: western sydney Posted 20/02/03 05:54 AM Share Posted 20/02/03 05:54 AM I have a novated lease. mods are basically a no go as this adds value to the car which then has FBT implications. in reality you can do anything you like but you have to pay for it with after tax money and no one would be the wiser. the other option is if you can claim it to be a repair eg exhasut had to be replaced which could then be paid for with pre tax dollars and GST input credits. this applies to novated leases in regard to salary sacrificing. Link to comment Share on other sites More sharing options...
scott52 Member 188 Member For: 22y 1m Gender: Male Location: Perth, W.A. Posted 20/02/03 05:55 AM Share Posted 20/02/03 05:55 AM kiwixr6t,once the price of the car is set that's it. the lease payment and residual are a function of the purchase price on the contract. any mods or upgrades after that will be out of your pocket - unless you work for a very progressive organisation and can convince the boss you need bigger brakes. I have a novated lease and therefore specified all the options and upgrades when I called for quotes. as you will be taking the risk on the residual, the right mods may increase the residual value (slightly) Link to comment Share on other sites More sharing options...
wig Member 21 Member For: 21y 11m 26d Location: western sydney Posted 20/02/03 05:56 AM Share Posted 20/02/03 05:56 AM sorry I am also supplied with a fleetcard so I can purchase what ever fuel, oil etc I like from any servo. Link to comment Share on other sites More sharing options...
Cro Flower Power Lifetime Members 6,114 Member For: 22y 3m 14d Gender: Male Location: Sydney Posted 20/02/03 06:01 AM Share Posted 20/02/03 06:01 AM HiyaA couple of questions for those of you who have purchased your Xr6's through a Novated lease:1) If you want to do 'upgrades' in the future, who pays?..... how?....... depreciation taken into account?eg. If you decided to upgrade to premium brakes etc....2) What type of fuel are you putting into your car? Did you have a say in this?My car SHOULD be here in the next couple of weeks (yeah right)..... It's like waiting for Xmas when I was a kid!!! The days are so freakin long now...... are we there yet? I believe my leasing company will allow me to add onto my lease when I purchase mods.I can also not add to the lease but those mods will not be covered under insurance.Say if my car got stolen, I'd just get what I had before I paid for the mods with my post tax salary.With fuel, I am getting a Shell card, and have been asked to just use Optimax.I was going to do this anyway. Link to comment Share on other sites More sharing options...
richdave SLOJAM, Gone but not forgotten Lifetime Members 1,841 Member For: 22y 3m 14d Gender: Male Location: Outer east - Melbourne Posted 20/02/03 08:30 AM Share Posted 20/02/03 08:30 AM I'm on novated lease. I could add whatever I wanted to the car as long as it did not exceed an additional 10% of the base cost of the car. I have 2 fuel cards - Caltex and BP. Not sure if I can get PULP yet but will let you know. As far as upgrading, can't do until end of lease and then I can buy the car for residual, then sell it. Trade it in and if the trade price is more than the residual, the lease Co sends me a cheque. OR buy a more expensive car next time and use the extra trade in value as a deposit, and have more equity in the car at the end of that lease.As far as upgrades/options fitted after purchase, not sure but given it's a novated lease, there should be no problems with me upgrading to (for example) 18" wheels and charging the cost back to the lease Co. It will just appear as additional "extra ordinary" expenses and will increase my monthly payment a bit. The cost is still pre tax and it wont affect the FBT since it is based on the FBT value of the car at time of purchase. Link to comment Share on other sites More sharing options...
Guest KiwiXR6T Guests Posted 20/02/03 11:07 AM Share Posted 20/02/03 11:07 AM Good stuff guys... thanks!I'll speak to my leasing company and let you know what their policies are.... I'm fairly happy to pay for the smaller changes, but if its something like Premium Brakes (which I haven't ordered), then I'll try to force the issue..... I've got a funny feeling I'll be hard pressed to wait 3 years before I mod this car. Especially if teams like Harrods start making kits to boost power to arround 300Kw (shouldn't be more than 6-12 months away)....that's the beauty for me personally...... its a a 4 ltr Turbo car!!..... Anyone know of another Turbo car with that sort of engine capasity ANYWHERE in the world??? NOTE: I'm refering to normal cars! (less than 100K) Link to comment Share on other sites More sharing options...
mercturbo Member 696 Member For: 21y 10m 6d Location: Geelong Posted 21/03/03 02:54 AM Share Posted 21/03/03 02:54 AM Im on a N/L and you could basically pick any car with any options, take care with fuel allocations as they calculated I would use $2800 of fuel for 25000k's, I told them they were kidding and they increased the fuel allocation on the package to $3400, dont forget these turbos things need PULP to get the best out of them. anymoney unused would be reimbursed Link to comment Share on other sites More sharing options...
hammer007 Donating Members 149 Member For: 21y 10m 21d Location: Canberra Posted 21/03/03 03:13 AM Share Posted 21/03/03 03:13 AM I'm about to finish a 4yr novated lease and moving on to a new 3yr lease for the XR6T.The only way I found to get around the 'capital improvements' argument was to get accessorries fitted during serviceing ie towbar etc etc.The other really good thing about novated leasing was with the BP card where I got trade prices on parts.Not sure with my new lease (through Leaseplan) what the fuel card will be but intend using PULP. You may also find that using a fuel card you will get a discount off the browser price maybe 5c a litre. Link to comment Share on other sites More sharing options...
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