Financing your T

[Dr Z]

So you are having fun with your T...but are you happy about the way you financed your T?

What type of finance did you use and why did you think that suited you best?

Would you do the same again or do something different? If so, what would you do differently with the benefit of hindsight?

I am considering a few different finance options though would love to hear from the T gurus.

Any help would be much appreciated.

Please feel free to PM or email me if you prefer.

Safe and happy driving...Dr Z.

[hammer007]

Dr Z - quite a few members have leased their Ts through salary packaging - I'm a big fan and have been very happy with how this is working for me nearly 12 months on. Do a search on some earlier posts and you will get some feedback on various financing options. Just remember that your mileage may vary depending on your own circumstances.

[OwnaXR6T]

Yep this is the first car I leased and is fully covered by my car allowance as part of my salary package! I love it cause I got to sell my last car that I fully owned and got to bank the cheque. Mods Mods Mods!!!

[Guest mickxr6t]

I financed the T under a Hire/Purchase lease over 4 years with a 30% residule on the car. I didn't get much of a discount on the purchase price of the T when I bought it in Jan 2003, cause of the demand and availability.

I'm currently claiming back the interest, depreciation, mileage and insurance and rego on the vehicle, so that offsets the higher price I'll end up paying for the vehicle over the term of the lease.

I recall yeec had what sounded like a pretty good deal on his lease ... maybe he could give some advice.

[ms700]

I just got mine through Ford Credit, very happy so far, can pay extra amounts off it whenever I want to, just BPAY my repayments in every week! And I can access how much I have left to pay over the internet as well.

[yeec]

I recall yeec had what sounded like a pretty good deal on his lease ... maybe he could give some advice.

Yep, I did a fully maintained 12-month novated finance lease on an auto XR6T (in HgAg) with premium sound, spats and mats, specifying 25000km. RRP approx $50k inclusive of on-roads.

Lease cost was $25171 gross ($13341 nett) payable over 12 months thru salary sacrificing then I pay a residual of $27287 at the end. This is all inclusive of petrol, insurance, maintenance.

Total cost = $13341+$27287=$40628.

Subtract the petrol, insurance and maintenance, and hence the car cost me approx $36200 (inclusive of on-roads).

I did sums varying the kilometers and the term and the type of lease (operating vs finance) and this one worked out the best for my circumstances.

[3rdTurbo]

Lease cost was $25171 gross ($13341 nett) payable over 12 months thru salary sacrificing then I pay a residual of $27287 at the end. This is all inclusive of petrol, insurance, maintenance.

Total cost = $13341+$27287=$40628.

Subtract the petrol, insurance and maintenance, and hence the car cost me approx $36200 (inclusive of on-roads).

I did sums varying the kilometers and the term and the type of lease (operating vs finance) and this one worked out the best for my circumstances.

Yeec does your residual figure include 10% GST? Most of the finance companies DO not includes this in the residual.

If yes, the residual becomes $30,015.

Do your figures include FBT?

[yeec]

Yeec does your residual figure include 10% GST? Most of the finance companies DO not includes this in the residual.

If yes, the residual becomes $30,015.

Do your figures include FBT?

Yes, I've included GST in the residual figure, and yes, the lease payments are inclusive of the appropiate FBT amounts based on 25000km. I went thru Custom Fleet.

[TBO240]

I just got mine through Ford Credit, very happy so far, can pay extra amounts off it whenever I want to, just BPAY my repayments in every week! And I can access how much I have left to pay over the internet as well.

ms700 I pay fortnightly bpay payment throught westpac.....and the payments are scheduled to be paid three months ahead saves you having to do it every week.

[3rdTurbo]

Yeec does your residual figure include 10% GST? Most of the finance companies DO not includes this in the residual.

If yes, the residual becomes $30,015.

Do your figures include FBT?

Yes, I've included GST in the residual figure, and yes, the lease payments are inclusive of the appropiate FBT amounts based on 25000km. I went thru Custom Fleet.

Yeec, that's a good deal. Sorry to play devil's advocate.