Jman The Cleaning Dudes Ute Silver Donating Members 1,308 Member For: 18y 7m 1d Gender: Male Location: Bentleigh, Vic, Australia Posted 25/04/07 08:00 AM Share Posted 25/04/07 08:00 AM (edited) Giday guys.I'm looking at buying a BF xr6t ute.I'd really like to update ute's every 3 years and am tossing up between the following options...*new xr6t ute for approx $45k with all the options I want. (financed over 3 years with a 50% balloon)OR*2nd hand mk1 bf for approx $37k (financed over 3 years with a 30% balloon)I'm not particularly interested in leasing as id like to keep it in a business name to claim depreciation...At the end of the 3 year term, id like to just give it back "safely" without costing any extra coin. My question is, on a 2nd hand mk1 BF (2005-2006) totalling approx $37k is a 30% balloon a bit high?- Any tradies with advice, please im all ears...Regards,Jarrod. Edited 25/04/07 08:02 AM by Jman Link to comment Share on other sites More sharing options...
groper Member 611 Member For: 17y 9m 12d Posted 25/04/07 09:46 AM Share Posted 25/04/07 09:46 AM (edited) you should be able to get a brand new bf2 xr6t ute for 39.5k drive away for a start, I just did...second, what deal you should go for depends on your individual circumstances... ie, how much you earn, business structure etc... talk to your accountant dude...id steer clear of the type of finance your referring to, it always works out better if you get a great interest rate loan, own it outright, and sell it privately when your done with it, dont trade it etc... Edited 25/04/07 09:49 AM by groper Link to comment Share on other sites More sharing options...
245T Member 125 Member For: 18y 7m 16d Location: The Monaro Posted 26/04/07 06:57 AM Share Posted 26/04/07 06:57 AM HI where did you get that deal? Link to comment Share on other sites More sharing options...
Jman The Cleaning Dudes Ute Silver Donating Members 1,308 Member For: 18y 7m 1d Gender: Male Location: Bentleigh, Vic, Australia Posted 26/04/07 07:21 AM Author Share Posted 26/04/07 07:21 AM So with that in mind. Do you recon an arrangement of (full finance) over something like 5 years. (No balloon) Then after 3 years. Sell it and end the 5 year finance arrangement?What sort of penalties are there for ending finance due to sale?Jarrod. Link to comment Share on other sites More sharing options...
Duc21 Member 110 Member For: 18y 10m 27d Gender: Male Location: Brisbane Posted 26/04/07 07:31 AM Share Posted 26/04/07 07:31 AM Best way to do it is to look for a Bank that will give the loan over 5 years with no penalties for early payment.... Some banks do charge to end the finance early $300 - $700 avg but if you can get one that allows you to pay it out early, no fees...Then it is in your business name and you can claim all the tax right off stuff you want...Steve Link to comment Share on other sites More sharing options...
Jman The Cleaning Dudes Ute Silver Donating Members 1,308 Member For: 18y 7m 1d Gender: Male Location: Bentleigh, Vic, Australia Posted 26/04/07 07:37 AM Author Share Posted 26/04/07 07:37 AM Ahhyep.Cheers Steve.Ive been looking at bank loans.But the rates (for me) seem to be in the 10% range.(be really great to get into the 9's) - and no im not talking 1/4's lol.I've still gotta have a look at ford credit.Anyone used ford credit?what are they like??Jarrod. Link to comment Share on other sites More sharing options...
BAturb Member 521 Member For: 19y 11m 30d Gender: Male Location: Adelaide Posted 26/04/07 07:48 AM Share Posted 26/04/07 07:48 AM I have my work ute, BA XR6T, financed with St George, at 6-8% over 5 years with a $10,000 baloon, I can pay out at any time with no penaltys, and I am thinking of paying it out this year (only had it 2 1/2 years now) , and keeping the car and be debt free Link to comment Share on other sites More sharing options...
groper Member 611 Member For: 17y 9m 12d Posted 26/04/07 10:27 AM Share Posted 26/04/07 10:27 AM got that quote from 2 different dealers, best they could do, so go down your local and just say you can get one for under $40K from somewhere else and tell them to match the price... theyll do it as for finance, my brother got a good deal from the commonwealth bank, its a "business loan" only 8%, dont know the exact details but it sounds good, pay out early fee decreases with time and its only about $600 max at the start or somthing like that...hunt around for finance, theres heaps out there all different... Link to comment Share on other sites More sharing options...
Dyno Junkie Member 254 Member For: 17y 7m 27d Gender: Male Location: Ascot, Western Australia Posted 26/04/07 11:20 AM Share Posted 26/04/07 11:20 AM Ahhyep.Cheers Steve.Ive been looking at bank loans.But the rates (for me) seem to be in the 10% range.(be really great to get into the 9's) - and no im not talking 1/4's lol.I've still gotta have a look at ford credit.Anyone used ford credit?what are they like??Jarrod.Hi Jarrod,If you are in Western Australia I do this for a living, so give me a PM. Link to comment Share on other sites More sharing options...
ritzy Member 119 Member For: 17y 9m 25d Gender: Male Location: Lysterfield, Melbourne Posted 26/04/07 02:04 PM Share Posted 26/04/07 02:04 PM Sounds like you guys need to learn finance... Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now