How Much Are You Paying For Your Xr6t?

[stardust]

  yeec said:

  stardust said:

  Quote

Novated lease $1600 a month pre tax dollars includes all running costs. Term 4 years $15,000 residual. Its only money

Gee that comes in at $91,800 after 4 years including residual.

Its only money :lol: :lol: :lol:

Ken

<{POST_SNAPBACK}>

He said pre-tax dollars, so that would actually be $53400 after-tax dollars if on the marginal tax-rate. Taking into account that it includes petrol, servicing, rego, insurance and tires, it's a very cheap deal considering that a lot of people paid at least mid-$40k for the car alone.

<{POST_SNAPBACK}>

I understand that but at the end of the day he has still paid out 91 grand is that right ?

He pays 1600 to the lease company a month.... right ?

Or do you get something back after you pay the 1600 a month.

Ken

[SOON2BXR6T]

  stardust said:

  yeec said:

  stardust said:

  Quote

Novated lease $1600 a month pre tax dollars includes all running costs. Term 4 years $15,000 residual. Its only money

Gee that comes in at $91,800 after 4 years including residual.

Its only money :lol: :lol: :lol:

Ken

<{POST_SNAPBACK}>

He said pre-tax dollars, so that would actually be $53400 after-tax dollars if on the marginal tax-rate. Taking into account that it includes petrol, servicing, rego, insurance and tires, it's a very cheap deal considering that a lot of people paid at least mid-$40k for the car alone.

<{POST_SNAPBACK}>

I understand that but at the end of the day he has still paid out 91 grand is that right ?

He pays 1600 to the lease company a month.... right ?

Or do you get something back after you pay the 1600 a month.

Ken

<{POST_SNAPBACK}>

Ken,

He doesnt pay the 1600 per month, his employer does.

If you are on the top marginal tax rate, when you earn $1600 gross, the tax man takes $760 and you get $840 in your hand.

Instead you get your employer to pay $1600 to the lease company (via a novation agreement) on your behalf instead of paying it to you as salary. This reduces your taxable income by the $1600 but it actually only costs you the $840 per month you used to take home. Also helps to reduce your taxable income also so can get family benefits, reduce superannuation surcharge etc.

Best way of feeding your go fast habits by far. Better when you chose a car with good resale cos you pay out the residual then sell the car!

[yeec]

  SOON2BXR6T said:

Best way of feeding your go fast habits by far.  Better when you chose a car with good resale cos you pay out the residual then sell the car!

<{POST_SNAPBACK}>

Spot on ! I sold my last T for several thousand more than the residual, the car only cost me a bit over $4k for the 12 months I had it, would of been even less if I bothered to wait for a better price.

[SOON2BXR6T]

yeec

your deal sounds too good to be true. Actual cost of my 3 yr, 45% residual is $853 (net of gst) for the car only. All running costs pay via company credit card.

Is the 890 you are talking the actual lease payments paid by the company or what its costing you??

[citric acid xr6t]

  yeec said:

  SOON2BXR6T said:

Best way of feeding your go fast habits by far.  Better when you chose a car with good resale cos you pay out the residual then sell the car!

Spot on ! I sold my last T for several thousand more than the residual, the car only cost me a bit over $4k for the 12 months I had it, would of been even less if I bothered to wait for a better price.

Yes your spot on there soon2bxr6t. I cant remember the exact figure but by financing my vehiclew this way I am a couple of thousand after tax dollars better off than by paying all costs after tax. I went for the Turbo hoping it would retain a bit of value as I thought it would become a bit of a cult car. Therefore I would also possibly pick up some extra cash on the resale of the car. Heres hoping

[ktford]

$570 per month, 25 down, 35 to go. Glad it is a business expense

Scotty

[SOON2BXR6T]

ditto citric. Not to confident at the moment though. Seen some pretty low prices for second hand T's. I made 7600 on the sale of my last car (00 Liberty RX).

[Blonk]

Novated lease........ 15k p.a. ( about the same as a company Camry)

If they ever find out about the way I drive it then I might have to finish up paying for it.......

Then I will find out exactly what it cost

[drcook]

700 neat per month over 4 years. paid deposit myself. I get car allowance from employer that covers repayments, rego, insurance, servicing & tyres. and company pays the fuel bill (and arent I glad about that bit!!).

[turb06]

$1030 per month over 60 months, no residual and can claim it as a work expense.

Dazza.