Which Dealer?

[fludey]

Hi all,

I am looking at taking a car allowance as opposed to my company car in the very near future and have wanted an XR6t since they were released, and I think now is the time to get one.

I would like to get the premium sound, and if possible the leather (but not a neccessity), and I love the colour Envi.

I think I might have to go for an ex-demo or slightly used item, as I don't really want to spend more than $40-$42k.

My question is, which dealer in the SE Melbourne area should I use for a good deal? I am open to any suggestions also regarding my best options in making my purchase, possibly I should buy new rather than used/demo, maybe there are things I should know regarding the car?

Any comments would be well received, as I have never been in this position before.

Cheers, and TIA...

Fludey

Edited 26/02/05 06:15 AM by fludey

[envi240]

If only you were in sydney..

oh well good luck with everything

Edited 26/02/05 11:24 AM by envi240

[yeec]

Whats the size of your car allowance ??? I leased my brand new XR6T auto sedan with premium sound for $20000 gross per annum based on 15,000km annually. Or purchasing outright with a fleet discount (dont't know if you can get that), it would only cost approx $38000 inclusive of on-roads (or even less via a finance lease like I did last year).

[fludey]

Car allowance is $15000 tax free per annum, this is why I don't want to really go far past $40000, I think I can get fleet discount, others at work have. I don't really understand what you mean about your lease, what is "$20000 gross", but anyway, I will probably do about 25000kms per year.

You can see I am a little ignorant when it comes to the whole lease thing, so any info you could give me would be really handy...

Edited 26/02/05 11:30 PM by fludey

[jdo]

You don't need to be a fleet purchaser to utilise the 'buying power' of a fleet company, as long as it's a company-backed purchase, ie. novated lease, CHP, chattel mortgage etc.

I got about 7% off RRP with my 'phoon thanks to the fleet company I used - basically dealer charges, stamp duty and rego paid for. It can get a bit messy sometimes though, especially if there are delivery complications. I had a little trouble (look at old threads in the Typhoon forum...) and it can be nasty dealing with the fleet co AND a dealer (or two dealers...) when something goes wrong.

Looking back, I have my car now and I saved some money; it's all good. PM me if you want the name of the fleet guy I dealt with.

[Gary Crawley]

:hiwelcome: fludey

I also recieve a car allowance from work and am entiltled to fleet discount, here's a couple of options.

Lease with a residual, you claim the lease payment plus running costs (per year)over the period of the lease. (eg 4 years) The only drawback you have to pay GST on the lease payment and residual.(it is counted as a final payment)

Commercial HP with residual (same interest, repayments etc as lease)

The 2 differences is you claim depreciation of your vehicle(app 22.5 % per year but not sure so check with your accounant) and the interest component of your loan.(It has a larger advantage the first year, declining over the remaining years.)

Still claim the same running costs.

One other advantage is you don"t have to pay GST on the payments or the residual.

I know it all sounds complex and it is so my advice is talk to an accountant for the best option for you.

Also remenber you can normally get a better interest rate on a new car.

I have only just organised my finance at 7.9 %.

Good luck and go shopping.

Regards,

Gary. (creepy)

[fludey]

Thanks for the replies, looks like a chat with my wifes friends hubby the accountant is in order.

As far as dealers, can anyone suggest a good one in my area, maybe someone who gave you a good deal or was a pleasure to deal with?

[Flukey]

Car allowance is $15000 tax free per annum, this is why I don't want to really go far past $40000, I think I can get fleet discount, others at work have.  I don't really understand what you mean about your lease, what is "$20000 gross", but anyway, I will probably do about 25000kms per year.

You can see I am a little ignorant when it comes to the whole lease thing, so any info you could give me would be really handy...

Fludey,

I get exactly the same as you do mate and comfortably pay for my $46K well optioned T. Repayments around $800 per month on a CHP leaves you $5400 for fuel, rego etc. You will do it easy.

As for a dealer in SE Melb, I dont know any good I would recommend. Just shop till you get the deal you want.

Flukey.

[yeec]

My question is, which dealer in the SE Melbourne area should I use for a good deal?

<{POST_SNAPBACK}>

You don't necessarily have to go thru a dealer, some leasing companies (ie Macquarie) allow you to lease a car bought privately, thereby saving you some money if you aren't able to purchase a new one.

[C.S.I]

Fludey, I dont understand a lease too well, but I took the car allowance and purchased mine via Hire Purchase.

Purchased direct from Dealer (Suggest you try Etheridge Ford) and Finance thru whomever, CFBC, Westpac, Ford ?????

Also, you wil NOT get a T for $38000 on road in a million years, even with fleet discount.

Try $43K at the bare minimum.

If you hire purchase, you can claim diminishing depreciation at 18.5% / Year.

You also claim the INTEREST portion of your payments, fuel, maintenance costs, insurance, rego, etc.

(But not improvements I think my Edit will show as some type of repair

You then claim your "Business Use" percentage based on a "Log Book' which you have to keep for 3 months in the 1st year...

Be aware, that getting a 'tax free' allowance simply means you pay tax later on any UNCLAIMED cash left each year.

If you cant claim (see above) (as opposed to USE) the whole allowance, you will pay tax on the remainder, by about year 4, its gets a bit tighter, as depreciation isnt as good, and most sell their cars for new ones.

Hope that helps. Or now you're totaly lost