Leasing, hiring or buying a car
Aug 28th 2009, 1:08 pm
#31
BE Forum Addict
Joined: Apr 2008
Location: Epsom
Posts: 1,705
Re: Leasing, hiring or buying a car
It's a 'premium' model so not to worried about the price (i.e it's not a Falcon/Commodore/Camry/Aurion etc that drop like stones). There are 6-7 year old cars of the previous model on around 40-50%. In any case I plan to upgrade at the 3-4 year point and a couple of grand either side is a risk I'll take.
Aug 28th 2009, 1:47 pm
#32
BE Enthusiast
Joined: Nov 2004
Location: Murrumbeena, Melbourne
Posts: 380
Re: Leasing, hiring or buying a car
I've just done a deal with the company I've just joined.
In return for giving up a salary of $10,000 per year, which would be about $6,000 in my pocket per year, I get a brand new Mini Cooper S with decent options, and all insurance, maintenance, tax etc and fuel included. Annual mileage is not stated either since they reckon on about 15,000-20,000k's a year.
Fuel is not going to get any cheaper so may as well have some fun and let someones else pay for it - ok, I'm paying for it, but the value to me per year for this car is about $17,500.
Ok, the alternative is to buy an old cheap car and thus save loads, but it's nice ot have a car and not have to worry about it...
In return for giving up a salary of $10,000 per year, which would be about $6,000 in my pocket per year, I get a brand new Mini Cooper S with decent options, and all insurance, maintenance, tax etc and fuel included. Annual mileage is not stated either since they reckon on about 15,000-20,000k's a year.
Fuel is not going to get any cheaper so may as well have some fun and let someones else pay for it - ok, I'm paying for it, but the value to me per year for this car is about $17,500.
Ok, the alternative is to buy an old cheap car and thus save loads, but it's nice ot have a car and not have to worry about it...
Aug 29th 2009, 4:30 pm
#33
Just Joined
Joined: Aug 2009
Posts: 12
Re: Leasing, hiring or buying a car
We arrived about 4 month ago and were staying in a holiday let for the 1st month. The day that we landed we hired a car for 2 weeks and then extended it for another week, the 4th week we finally bought a car after alot of test drives we just used the holiday let as a fixed address and rand the licence office a few week later who sent all the transfer docs etc to our new perm rental address. The rental was stressful enough but the car was worse I reckon, they are so expensive compared to the UK the second hand cars, hold the value loads better
Aug 29th 2009, 4:36 pm
#34
Account Closed
Joined: Dec 2005
Posts: 2,424
Re: Leasing, hiring or buying a car
We rented various cars I think we used Hertz most times but it was like throwing money out the window.
An wasn't very impressed when they didn't record details correctly and so we got a letter from NSW police to say my husband had been caught speeding 2 weeks after he handed the car back in !!!! Took a long time to sort out as they were adamant it wasn't they're fault.
I'd look into buying a car as soon as possible but be careful as some of the car garages are worse than UK ones, the one in Penrith saw us coming and oddly enough wouldn't touch it with a barge pole when we wanted to sell it !!!!! So just don't get lumbered with a liability like we did
Best of luck
An wasn't very impressed when they didn't record details correctly and so we got a letter from NSW police to say my husband had been caught speeding 2 weeks after he handed the car back in !!!! Took a long time to sort out as they were adamant it wasn't they're fault.
I'd look into buying a car as soon as possible but be careful as some of the car garages are worse than UK ones, the one in Penrith saw us coming and oddly enough wouldn't touch it with a barge pole when we wanted to sell it !!!!! So just don't get lumbered with a liability like we did
Best of luck
Aug 30th 2009, 7:02 am
#35
Just Joined
Joined: Aug 2009
Location: Australia
Posts: 13
Re: Leasing, hiring or buying a car
www.drive.com.au has new and used prices
but they are a lot more than on www.autotrader.co.uk
old cars here seem to hold their value
James
but they are a lot more than on www.autotrader.co.uk
old cars here seem to hold their value
James
Aug 30th 2009, 4:33 pm
#36
The Stars are Underground
Joined: Jul 2009
Posts: 423
Re: Leasing, hiring or buying a car
Gumtree has some handy used cars, seeming a better price than garages.
New models there are cheaper then other Countries, but second hand models do hold their value very well....TOO WELL!
New models there are cheaper then other Countries, but second hand models do hold their value very well....TOO WELL!
Mar 1st 2010, 5:51 am
#37
Karma Comedian
Joined: Feb 2003
Location: Brisvegas
Posts: 3,506
Re: Leasing, hiring or buying a car
I have leased (novated leased with employer in tr-partite agreement) twice. Both times I saved loads of money on petrol, maintenance etc and made money above the balloon each time I sold the car.
First time I sold a car for about $7000 more than the balloon; second time about $5000 more. So...whatever you pay monthly you can get some of that back on selling.
Even if you do less than 15,000km pa you still pay 26% FBT cost. If that is less than your marginal tax rate then you can be pretty much assured that a novated lease will leave you better off financially than arranging a deal privately.
First time I sold a car for about $7000 more than the balloon; second time about $5000 more. So...whatever you pay monthly you can get some of that back on selling.
Even if you do less than 15,000km pa you still pay 26% FBT cost. If that is less than your marginal tax rate then you can be pretty much assured that a novated lease will leave you better off financially than arranging a deal privately.
