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Australian Model 3 Waiting Room
- Thread starter rgc1990
- Start date
Eastern States, don't lose hope. Forecast is cloudy on the horizon. A storm is coming this week.
Priit
Active Member
It may be so for some people, but for others its a good option and well worth it. For my situation its well worth it. The GST exemption and with FBT exemption the tax savings also add enough to make it worth it. My home loan offset account can only cover a fraction of the car cost, so not an option to put in under home loan unless I would do full re-finance and that will be more expensive than Novated without FBT and car without GST (except at the end the GST will be on the remaining 23k only).
I'm getting brake pads replaced on the current car tomorrow so that it is roadworthy in a couple of months time (expecting the Tesla to be further delayed). Forking out that money will surely bring my VIN sooner!
Always organise insurance in advance to start the day you pick it up - otherwise, if you bingle it on the way home you'll be SOL.
You don't need a rego number to organise insurance, a VIN is sufficient. You can let them know the rego number later when you get it.
Get a few quotes, as far as I'm aware there aren't any. My company has a NL provider and their rates and fees far exceed any tax savings than my current finance option.
Most novated lease companies will give you as many quotes as you wish for any time length you are considering (3 years, 4 years, etc). Within those, they usually give a comparison to financing another way, so it is easy to see if it is worth it or not for you. The catch is…their ‘comparison example’ might not be at a rate you could secure if you get a good deal.
But with a bit of cleaver speadsheeting you can tweak that comparison to give a realistic comparison for your situation. It’s not a perfect science, but hey, most of us have time on our hands…and need big distractions.
Well Morning Crystal should be arriving tonight, kind of feels like we are betting the farm on this one for VINs if we are to have our RWD Q1 orders fulfilled in Q4..
...rolling the dice...who is feeling lucky?
OD March 12 RWD plain and simple.
...rolling the dice...who is feeling lucky?
OD March 12 RWD plain and simple.
Here is a Novated Lease quotation I got this from a work colleague (before Tesla price rises). This does not take into account any future FBT exepmtions.
When doing the figures, it costs ~$24,000 more over the 5 years (this includes the residual payment to own the car outright).
If one assumes the car is worth $40,000 after 5 years, out of pocket $80,000 (monthly payments and residual), it may sound like a good deal only loosing 50% of value in 5 years. Each to their own I guess.
P.S. The quotation is based on a yearly income of ~$150K .
When doing the figures, it costs ~$24,000 more over the 5 years (this includes the residual payment to own the car outright).
If one assumes the car is worth $40,000 after 5 years, out of pocket $80,000 (monthly payments and residual), it may sound like a good deal only loosing 50% of value in 5 years. Each to their own I guess.
P.S. The quotation is based on a yearly income of ~$150K .
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Just be very careful with the quotes you get. As others have said they give you lots of random numbers to purposely make it difficult to understand.
Definitely the quote I got from maxxia was probably one of the worst quotes you could get from any provider in australia.
I calculated everything in the top income bracket paying off the loan within about a year.
I hate these quotes so much...
for instance it has a monthly cost figure there which is ~1000
but then you look at the fortnightly and it doesnt add up to monthly... they are subtracting the tax saving from the monthly cost figure (without making that clear?)
so actually you're paying them $90672.4 in lease payments with an 18000 dollar residual over 5 years? Even in the top tax bracket the total cost over 5 years is 67869.82? Seems like the novated lease companies are the only ones who are winning and I hate to be a part of a system designed like that.
I ordered mine in February and still don'thave a date, thinking if I cancel my order, then reorder the same spec...I might get it by February next year 
I hope you're wrong, but suspect you're right
Where is the
button John... 9 Feb RWD! Certainly getting on and full credit to you for patiently sticking it out...Sadly the Don Juan remains moored in Brisbane, but its status did change yesterday, I suspect (hope!) it will be on the move shortly.
Testesslim3
Member
nothing in MY waiting room thread either. no M3 and MY on this ship (unless Vins will be assigned while on sea)? is this full of forklifts?
I'm afraid so. if thats the case then we better start praying for Morning Crystal
Here is a quote I got from my employer-nominated NL company. I'm a computer programmer, I can say I'm somewhat good with numbers, but yet I have no idea what most of the figures in this quote are. My layman's calculation is as follows:
- I would have paid $40,538 out of pocket at the end of the lease
- I would have to pay a residual of $37,623 at the end
- Adding (1) and (2) will be $78,161
- Subtracting (3) from the on-the-road cost of the car ($66,498) gives $11,663
- Subtracting insurance, rego, servicing e.t.c (~$6,000) which I would have paid out of pocket without NL from (3) above gives $5,663
Experience people in the house, does this calculation make sense? If yes what options do you think are out there that beat the $5,663 figure?
