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Australian Model 3 Waiting Room
- Thread starter rgc1990
- Start date
Jusebert
Member
Remserv - and even though I expressed disgust that I have to pay a brokerage fee of almost $1400 for them to just lock me into a loan of 9% at the time I was told that is part of their business model.. They should have a DIY model where I can use my own finance and if they need to get more money to run their business, they should increase their fees so everyone can see how much they are charging. At least the fees aren't then added onto the loan.
The savings will be substantial, however the 8-10k per annum saving is the FBT component. If you are leasing you still have to pay for the car which would mean that out of the say $10,000 you're saving, you're actually saving your marginal tax rate. For simplicity sake we can say 32.5% or $3250 per year saved of actual salary. Add on top of that anything else you might save (~$5000 GST, Insurance, Rego) then it's still potential to be a significant saving (~$4850 p.a) over even a lower interest rate.
Chris Bowen intends to try and push it through at the end of this month when they sit for almost two weeks - so hopefully we have clarity by early August. So I'm confident it'll happen.
Jusebert
Member
Yeah - agreed. I made up a spreadsheet and had to dig deep into the detailed quote I was sent to be able to compare. Without FBT exemption, Novated Leases through the company I have to go with are absolutely not worth it.
Jusebert
Member
Good idea to get a quote before the legislation goes through. If / when it goes through you can request another quote and see the difference easily.
I would suggest get them to do you up multiple quotes (its all system generated, shouldnt take them long at all) for maybe 3 and 5 year leases. They did say that if it passes the legislation will be reviewed in 3 years, so you wouldn't want to get locked into a 5 year lease and lose the reason you signed up for it for the final two years.
Ormaus
Member
BareFeetTom
Member
Is there any advantage or requirement to purchase through a novated lease, as opposed to the business just buying the car outright? Do we still get the FBT exemption etc?
Jusebert
Member
Fringe benefits tax (FBT) – a 47.00% tax on electric cars provided through a business for private use of the vehicle.
That's the exemption, so I'm not sure if a business buying one outright would get any benefit unless they were buying it for an employee to have private use. Would have to check in with an accountant on that one sorry. Anyway.. i didn't mean to hijack the thread! back to dates and vin numbers!
That's the exemption, so I'm not sure if a business buying one outright would get any benefit unless they were buying it for an employee to have private use. Would have to check in with an accountant on that one sorry. Anyway.. i didn't mean to hijack the thread! back to dates and vin numbers!
Ormaus
Member
Depends on the browser.
Chrome - right click -> View Page Source (Ctrl + U)
Then you need to search for the VIN
On a PC browser, go into your M3 order page, right click -> view source, ctrl+F, search for LRW.
BareFeetTom
Member
Yes. Sorry, that's what I meant. I am an employee of my own small business, so am considering getting my company to buy it for mostly my personal use. I'm wondering whether it's fine to just purchase it outright and still get the FBT exemption.
Just a reminder for everyone - there is a Chrome extension that will search the source code for you.
Easiest way:
1. Log into your account on a PC.
2. Whilst logged in, go to: https://www.tesla.com/teslaaccount/oxp-bff-api/user-orders
It will show the info in a easy readable format (VIN (if assigned), RN etc).
Thanks, but using Apple Mac or iPhone so no right click.
I did access the source code some weeks ago but what I remember doesn't work now.
I emailed Paywise just last week, the FBT exemption is not legislated yet so they can't give me a quote. But the 3 and 5 year quotes they gave me did not seem worth the hassle, although there is a small saving it is limits my cashflow quite a bit with high fees and high interest. It felt a bit worse off than the 3.99% loan I'm approved for, but it expires in August.
Just use Draco's method with the URL after you have logged onto the account page. https://www.tesla.com/teslaaccount/oxp-bff-api/user-orders
Your words not mine. I never stated i knew exactly how many ordered were in front of mine. The reality is that there are people in front of me, as I previously stated. Take a deep breath…..
Cammo
Member
Been on Mac for long? Control-Click is same as right click.
For Apple Mac - click the track pad with 2 fingers rather than 1 - this is your right click. If using Chrome - select View Source Page.
As far as I'm aware - you can't with iphone.
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