Car Leasing in Sydney
 

Hi

The family is moving to Sydney in the next couple of months. Given the exchange rate we're trying to limit ourselves with the amount of money we transfer and hence thinking maybe leasing a car might be a good option rather than buying. Has anyone on the site got any recent experience of this or done any research?

Thanks

Re: Car Leasing in Sydney
 

Do you mean renting a car or leasing?

A lease over a number of years is substantially the same as borrowing money and buying the car.

Re: Car Leasing in Sydney
 

Thinking we could lease a car with an option to buy at the end of the period.

Re: Car Leasing in Sydney
 

But you do pay for the "option" ... why not just buy the car outright?

Re: Car Leasing in Sydney
 

I lease two cars through a firm called SG Fleet. Service is good and it's a convenient way to run a car.

Depending on your employer you can salary sacrifice (ie pay the lease fees out of pre-tax income). You then have to pay fringe benefit tax but this is included in the overall lease budget and you end up slightly ahead, depending on your tax bracket.

There is one stupid rule: you have to do a minimum amount of mileage to minimise the tax. So on March 31st each year a load of Australians are driving around wasting the world's resources in order to hit their mileage bracket.

I'm sure this will change with the "Henry Review" of tax but I don't see anything chnaging until after the next election.

Re: Car Leasing in Sydney
 

I think that you are talking about a novated lease through an employer. I think that the OP was asking about a UK style PCH lease contract, with an option to buy at the end, or renegotiate a new lease on a different car - like a long term hire, with a buy option.

Sadly, the latter option doesn't appear to be widely available in Australia, unless you want to eventually end up owning the car, and you have an employer willing to do the paperwork.


S

Re: Car Leasing in Sydney
 

Not just Australians :lol:

This year, we're just paying the damn tax.

Re: Car Leasing in Sydney
 

See www.goget.com.au for an altrernative if you don't mind driving a smaller car and booking when you need it. I have my own car in Brisbane but use this when visiting Sydney.

Re: Car Leasing in Sydney
 

The contract hire concept that is common in the UK is not done in Australia unfortunately. I used to CH vehicles in the UK and found it a great way to operate - I got a new car virtually every year adn it was tax deductible.