Above Forum Ad

Collapse

Announcement

Collapse

Email Notifications Failing (mostly Telstra)

Hello everyone. Seems there is an issue with Telstra (possible others) blocking email from our server. If you are trying to sign up I would suggest a different email if possible. If you're trying to reset your password and it fails please use the Contact Us page:
See more
See less

Re-sale Value on 6R Polo GTI Discussion

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Might be also important to note that the new law that Kevin Rudd has annouced puts a massive halt on leasing cars companies as there is no longer any tax benefits.

    This may have a big impact on resell value but may also boost the small petrol saving cars ie Polo due the savings from not being worth it to lease cars via businesses anymore.
    GOLF GTI MY11 ADIDAS Candy White, Sunroof
    GOLF GTI 40th ED, White with Sunroof

    Comment


    • #17
      Originally posted by Bassik View Post
      the new law that Kevin Rudd has annouced puts a massive halt on leasing cars companies as there is no longer any tax benefits.
      Wow - BMW and Mercedes must be $hitting bricks with this one. This makes me SERIOUSLY think about changing my vote.
      Resident grumpy old fart
      VW - Metallic Paint, Radial Tyres, Laminated Windscreen, Electric Windows, VW Alloy Wheels, Variable Geometry Exhaust Driven Supercharger, Direct Unit Fuel Injection, Adiabatic Ignition, MacPherson Struts front, Torsion Beam rear, Coil Springs, Hydraulic Dampers, Front Anti-Roll Bar, Disc Brakes, Bosch ECU, ABS

      Comment


      • #18
        So there wont be any tax benefits from when? That's why I bought a new car, as it's my work car! I work for my self btw, so..... I've been claiming on it... anyone link me to a easy to understand article of what Krudd is talking about? Vote... or not to vote...
        [FONT=Franklin Gothic Medium]Matt
        2015 Skoda Octavia RS | Combi | DSG | Metallic Grey | Tech Pack, Every Option Except Leather |
        Prev: 2012 VW Polo GTI | 5dr | DSG | Reflex Silver | RCD510 |

        Comment


        • #19
          You'll be fine. It nails the people who salary sacrifice for a car that they allegedly use for work 80% of the mileage (but in reality, probably use it for personal reasons 80%).
          This is where you can have your say on anything that doesn't fit in the other sections. Remember we are a public forum and the same rules of propriety hold! No bad language, incitement of hatred or antisocial posts, please. They will be edited or deleted mercilessly!
          Resident grumpy old fart
          VW - Metallic Paint, Radial Tyres, Laminated Windscreen, Electric Windows, VW Alloy Wheels, Variable Geometry Exhaust Driven Supercharger, Direct Unit Fuel Injection, Adiabatic Ignition, MacPherson Struts front, Torsion Beam rear, Coil Springs, Hydraulic Dampers, Front Anti-Roll Bar, Disc Brakes, Bosch ECU, ABS

          Comment


          • #20
            I think the problem for the OP is that they got "sold" a finance package which really does not suit the amount of driving they do and the resale of the car is never going to match the payout figure for the car.

            Finance guys can do some "magic" with the numbers to get you into a car but it really doesn't help you at the other end when you need/want to move on. My rule of thumb is to never take the car for an "effective" term more than 5 years. By having 5 years plus a balloon you're effectively taking the loan over 7 years which almost always ends in tears (unless you're planning to keep the vehicle that long).

            You'll either need to stump up with a wad of cash or roll the problem over into a new car (which only tends to compound things). So the only thing you can do now is to start saving so that you can meet the short-fall when you come to change over. Unless the finance company can take higher payments but if it's on a chattle mortgagte I'm guessing that they won't give you that flexibility.

            2017 Tiguan Sportline - Tigger73's 162TSI Sportline

            2016 Scirocco R, stage 1, 205kwaw (sold) - Tigger73's Scirocco R Build
            2013 Tiguan 155TSI, stage 1, 144kwaw (sold) - Tigger73's 155TSI Build
            2011 Tiguan 125TSI, Stage 2+, 152kwaw (sold)
            - Tigger73's 125TSI Build


            Comment


            • #21
              Originally posted by kaanage View Post
              You'll be fine. It nails the people who salary sacrifice for a car that they allegedly use for work 80% of the mileage (but in reality, probably use it for personal reasons 80%).
              http://www.vwwatercooled.com/forums/...ses-87936.html
              Indeed.

              It's removing a benefit that really shouldn't be there (I've taken advantage of it myself).

              If you legitimately use your car for business & keep a log book for 12 weeks then it won't be an issue.

              I would question why anyone would take out a novated lease for a business vehicle though - I would have thought there were better ways to finance than this.
              carandimage The place where Off-Topic is On-Topic
              I used to think I was anal-retentive until I started getting involved in car forums

              Comment


              • #22
                .nowhere in my novated lease agreement does it mention percentage business use/private use. I use mine 100% private. The reasons you lease is to pay for the finance, fuel, servicing, insurance in pre tax dollars, lowering your taxable income and pay less tax. It also spreads the load of yearly costs of rego and insurance. I get cheaper fuel without having to carry around woolworths and coles dockets. It forces me to put a little away each month so I'm not broke in rego month. I pay a lease fee and fbt to offset part of that. So yes it is definitely a tax dodge but a legal one.

                Its interesting (or not) that the 3 year plan to bring the fbt rate to 20% for all kms travelled only got to year 1 before they have changed it again.

                I wouldnt have thought that a business could get a novated lease as a business doesnt have a salary to sacrifice?

                I dont think I am saving any grand amounts of money over buying and financing it normally. Only a couple of thousand. We'll see if the changes make law and how long they stay. If its not lucrative enough when I'm due for my new car I'll just buy it post tax. Spread over 3 years I wont even notice it. It will be a pain in the arse for lease companies having to maintain different rules for different aged leases.

                Comment


                • #23
                  Amazeer
                  Your lease doco will say how FBT will be calculated & refer to the Statutory method. The Statutory method then introduces the bus/priv split. This is an assumption of use & you don't have to abide by it, hence you can have 100% private use with no penalty.

                  I did the sums for a mate about 2 days before the rule changes. He wants an $18k vehicle over 4 years. He's on 37c tax rate & does 20,000km/pa. The difference between Novated Lease & 8% car loan was $15/week in favour of the novated lease without taking into account tax advantages.

                  It isn't a dodge if it's legal and there's nothing wrong with people taking advantage of legal ways to minimise their tax. Unfortunately, what happens is that when lots of people jump on the bandwagon the Govt (both parties) suddenly sees all the lost revenue & moves the goal posts. Look at superannuation & the constant changes, solar bonus schemes, tax rates, child care subsidies, private health insurance subsidies, etc. You can't bank on anything being constant or permanent except that you will eventually get done over by some whim from a politician.
                  carandimage The place where Off-Topic is On-Topic
                  I used to think I was anal-retentive until I started getting involved in car forums

                  Comment


                  • #24
                    Re-sale Value on 6R Polo GTI Discussion

                    Enough talk of tax people, it's not really on topic whatsoever. Please move this kind of chat to the general section yeah?
                    sigpic
                    Stage 2+ Intercooler Carbon Intake Downpipe Swaybar DV+ Remsa.

                    Comment


                    • #25
                      Re-sale Value on 6R Polo GTI Discussion

                      Whaddya reckon our Polos be worth then? At 120,000kms...
                      [FONT=Franklin Gothic Medium]Matt
                      2015 Skoda Octavia RS | Combi | DSG | Metallic Grey | Tech Pack, Every Option Except Leather |
                      Prev: 2012 VW Polo GTI | 5dr | DSG | Reflex Silver | RCD510 |

                      Comment


                      • #26
                        Originally posted by MJKooLio View Post
                        Whaddya reckon our Polos be worth then? At 120,000kms...
                        About 1/3 of what you paid for it.
                        carandimage The place where Off-Topic is On-Topic
                        I used to think I was anal-retentive until I started getting involved in car forums

                        Comment


                        • #27
                          Re-sale Value on 6R Polo GTI Discussion

                          Originally posted by brad View Post
                          About 1/3 of what you paid for it.
                          That is if you are lucky - age and kms kill resale values. I am seeing mk5 Gtis with that mileage slipping into the early to mid teens and they are not even selling
                          Current ride: 2014 Range Rover Evoque 5 Door TD4 Pure | 9 Spd Auto | Fuji White | Black Leather | 19 inch 'Dynamic' Wheels

                          Previous rides: MY11.5 Golf GTI 5 door | DSG | Candy White | 18' Detriots | Bluetooth | K&N Air Filter | Dancing Dials (Oh Yeah!)
                          | 1989 Porsche 944S2 Coupe| Guards Red| Leather| Sunroof| LSD

                          Comment


                          • #28
                            Originally posted by Finance_Analyst View Post
                            That is if you are lucky - age and kms kill resale values. I am seeing mk5 Gtis with that mileage slipping into the early to mid teens and they are not even selling
                            I just pulled a number out of my date to shut him up.

                            As we both know, it's worth what somebody is willing to pay on the day & there's a whole lot more to vehicle value than just age/km. Condition, service history & even geography come into it. Go to Canowindra & the car dealer there wants stupid money for his cars - about twice as much as nearby Orange
                            carandimage The place where Off-Topic is On-Topic
                            I used to think I was anal-retentive until I started getting involved in car forums

                            Comment


                            • #29
                              Re-sale Value on 6R Polo GTI Discussion

                              As we all know VW resale has been hammered so those hoping it returns to normal may be waiting till the next time another recall happens to another brand the size of VW so the public forget
                              Current ride: 2014 Range Rover Evoque 5 Door TD4 Pure | 9 Spd Auto | Fuji White | Black Leather | 19 inch 'Dynamic' Wheels

                              Previous rides: MY11.5 Golf GTI 5 door | DSG | Candy White | 18' Detriots | Bluetooth | K&N Air Filter | Dancing Dials (Oh Yeah!)
                              | 1989 Porsche 944S2 Coupe| Guards Red| Leather| Sunroof| LSD

                              Comment


                              • #30
                                Re-sale Value on 6R Polo GTI Discussion

                                Thanks brad
                                [FONT=Franklin Gothic Medium]Matt
                                2015 Skoda Octavia RS | Combi | DSG | Metallic Grey | Tech Pack, Every Option Except Leather |
                                Prev: 2012 VW Polo GTI | 5dr | DSG | Reflex Silver | RCD510 |

                                Comment

                                Working...
                                X