How Much Are You Paying For Your Xr6t?

[XRBloke]

I pay $800 for my NA over 36 months, then 40% residual. I will more then likely backtrade after 2 and a half years and make a nice little profit and buy a new T hopefully...

[IndecisiveGeek]

Around $815 per month but for a BA XR8. Over 5 years, no residual, 22 years old and no credit rating.

[fraggle]

$430 a month 4 1/2 years to go and its all mine

[yeec]

  SOON2BXR6T said:

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??

<{POST_SNAPBACK}>

My 1st T (12 month/25000km finance lease) cost me $1113 per month nett with a $27300 residual including GST. Hence total cost at the end of 12 months was 12*1113+27300=$40656. And that included onroads, petrol, insurance and servicing. Sold it for $31500 (could of easily asked for more but couldn't be bothered as I wanted a quick sale). Taking into account the petrol, insurance, servicing and onroads, the car itself cost me around $35500, and as I sold it for $31500, it only cost me $4000 for the year. I could of bought the car outright at the beginning, but by putting $35000 straight into my mortgage instead of a new car, the interest saved on my mortage by doing this was about $2500. Hence, the cost of the car would of only cost me $2500 that year.

My 2nd T (which I got 2 weeks ago) is on a 36 month/45000km operating lease which is costing me $890 per month after tax (again inclusive of rego, insurance, petrol and servicing). Doing it this way this time around as it suits my circumstances better.

[CHIPS]

I'm "out of pocket" around $820 per month for 60 months with $11000 residual doing 25,000 km's per year.

[Guest cdfa]

Sounds like there are a lot of people leasing.

For those who don't understand a lease the first important point is that (from the lease I have) your employer must support the program. I earn around the 100k mark and did some numbers on the lease plan and based on my income for a $52,000K vehicle 15,000km per annum is approximately break even if paying outright (without loan interest!). If you can achieve 25,000 km the benefits are substantial weather you put the car on a 1, 2, 3 or 5 year lease. (Note the fringe benefit tax is indexed according to the K's driven so you need to make sure you have adequate marginal tax to claim on and that you do adequate km's to get the full benefit. The hurdles for FBT changes are 15,000km, 25,000km and 40,000km per annum).

I have a MK2 XR6T which would retail for $54,000 (drive away) over my 3 year lease I pay a total of $51,000 ($19,000 residual and $10,700 per year after tax contributions, plus I get the benefit of a fleet discount) for the car plus fuel, maintenance, insurance and onroads, this is based on 30,000km of trouble free motoring per annum. Not only do I effectively save $3,000 off retail but I also get the operating costs for next to nothing when analysing against an up front payment (note this ignores the time value of money which adds even more value to the lease when comparing to buy today)

I anticipate around $30,000 resale (I hope I get this anyway). So for my 3 years of ownership the car will cost me $21,000 total to drive 90,000km, that's 23 cents per km which I reckon is pretty darn good!

Hope this helps those who have no idea how a lease works.

Cam

[CHIPS]

  CHIPS said:

I'm "out of pocket" around $820 per month for 60 months with $11000 residual doing 25,000 km's per year.

*that's all inclusive.

[mickq]

About $630/month for 2 years. That includes all fuel, rego, insurance, servicing etc etc. (ie not one more cent has to be paid over that time).

After 2 years I can either buy it out at $3-5000 under the then current wholsale price, or else drop it back to a dealer with the keys and drive away in a new car of some kind.

Due to drop mine back early April. picking up a Mk2 T with a few more options this time! (Leather, 18" wheels to go with my current prem brakes, prem stereo and side airbags).

[Terebro]

  BAturb said:

get a ute say it is for work and the tax man helps pay for it

<{POST_SNAPBACK}>

Sorry to drag this old thread out, but its got some excellent information in it which would still be beneficial to anyone today.

Im in a position where I want to lease an F6 Tornado for 3 years.

Im not 100% sure on how the lease options I have will change because it's a ute.

I'll be driving about 18,000km's a year - of which none will be official business travel (damn office job)

Could someone please spend the time and explain how, because it's a ute, will make it easier for me to lease. I don't have an ABN or anything like that, so will that matter?

Thanks

[iTec]

$640 per month over 24 months, including fuel, rego, insurance, service ect