Leasing Cars

jcat58 · 15-10-2015, 12:14 PM

Thinking about leasing a motor vehicle through SG Fleet. What are peoples thoughts on leasing.Thanks

**Polyal** · 15-10-2015, 01:16 PM

Yeah I am looking at it in the new year too. I was previously of the opinion it was BS and didnt work out but depending on how much you drive it might?

I wish there was a calculator where you can put your salary in and it works out the net effect or advantage you get and how it effects your take home pay etc

jcat58 · 15-10-2015, 06:25 PM

there is calculator, go to sg fleet on the web and it will ask you , car, wage, lease time etc

**Polyal** · 15-10-2015, 07:10 PM

Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.

Shambles · 15-10-2015, 09:00 PM

Is SG Fleet your only option? There are other companies with similar/better terms.

devilcv8 · 15-10-2015, 09:02 PM

Quote:

Originally Posted by Polyal

Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.

It's actually pretty simple and with the flat 20%fbt calculation it doesn't mean you have to do a certain number of kms to keep the cheaper fbt bracket.

In a very basic formula you want a cheap car with high running costs to get the best value from a lease as the fbt calculation is on the fbt base price of the car...
Best advice is research, do the sums and research some more.

Mowdit · 15-10-2015, 10:10 PM

Quote:

Originally Posted by Polyal

Yeah that tells you the fortnightly amount, not how the actual deduction works....

So say for example I get taxed $4k a month, does that $700 a fortnight come out of that..so I am only taxed $3300....

I have NFI with that stuff.

"If you are paying $4,000 a month tax you are earning too much"

I looked at it, figured it to be like renting (making someone else money)
So I loaned myself the money (home redraw), will have the accountant claim the interest, running costs and depreciation at tax time.

And will sell myself or friend the "well looked after" vehicle for bugger all after 3-5yrs.