Lease or loan

Each situation is different Steve... I lease mine and the simple break down is as follows...

Monthly(before tax) payment $1393

What I lose from my take home pay(month) $637

It covers fuel, tyres, servicing, insurance, rego and so on... It was going to cost me the best part of $600/month to service just a loan for the same vehicle.

I took mine over 5 years as it suited my requirements and at the end I'll have a balloon payment of $7700.

Mods can be difficult, Lease Plan seems to be against it and I've had a couple of battles with them along the way...

Allowed to take it on any gazetted track...

So many options.

It sounds like Blue has a lease through work as it covers all costs.

The company I work for offers us a company car, novated lease (like Blue's that covers all costs) or you can opt for neither and get the lot as salary and do your own thing.

I did the numbers and worked out I could do my own lease cheaper than the novated option. The company car option was out as 4wd's are not on the standard list.

With a personal lease the car is your's to do whatever you like with it. Keep in mind, at the end of the lease you have to pay the residual.

As for the best option for you, talk to your accountant, the variables are too great to go into here eg your salary, tax bracket, % business travel etc.

Cheers,

Jim.

Increased incentive if it's a ute as there's no FBT payable.

Find a lease company that doesn't care about mods (ie Experien in Qld) if you're going to want to do mods

Definitely don't get tied up in a lease where they include tyres etc because they will have tunnel vision on what can be put on. At the end of the day, so long as you maintain flexibility.

The other big thing with leasing, is that all running costs (servicing, fuel, wash, detail, repairs, tyres etc etc !!), comes out of pretax dollars - can be very worth while

Generally only worth while if you will do 25,000km or more per year

Above all else, check with your accountant