You should get at least 0.2% better with the latest rate drop
Contact a broker who does commercial financing, he might be able to snag something for you
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Finance Rates
- Thread starter Nuclear Fusion
- Start date
Contact a broker who does commercial financing, he might be able to snag something for you
I got an email from ANZ for a business loan:
VEHICLE & EQUIPMENT FINANCE
- 3.99% p.a. on new vehicle and equipment
- Additional 0.70% p.a. on energy efficient vehicles and equipment under ANZ listing
I've confirmed with a rep that the 0.7% reduction applies to the model 3.
Effectively 3.29% pa + $395 establishment fee
VEHICLE & EQUIPMENT FINANCE
- 3.99% p.a. on new vehicle and equipment
- Additional 0.70% p.a. on energy efficient vehicles and equipment under ANZ listing
I've confirmed with a rep that the 0.7% reduction applies to the model 3.
Effectively 3.29% pa + $395 establishment fee
EcoCloudIT
Active Member
You said it wasn’t possible....did your look back a page on the post you made on the 20th?
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Nope didn’t say that, was referring to my experience with brokers & what I ended up managing to get in shopping around
Also 2 interest rate cuts since then
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EcoCloudIT
Active Member
Not quite true....the CEFC financed the 0.7% discount a couple of years back, so they were effectively funding the discount for qualifying energy efficient business assets financed through CBA and others. It included Tesla cars. You probably could still negotiate the same rate, but it was actually a program. Not sure where it is at now, although CBA still quote 0.5% discount for qualifying assets
I wonder when you factor it all in, how much an EV is truly subsidised in Australia (which is what it should be to the ‘offset’ externalities of fossil fuel cars - cancer & global warming), even though we don’t have explicit federal government discounts at purchase.
In Victoria, all you get is a small discount on registration & a reduction in stamp duty - but these are state level.
On $75,000 0.7% saves $1200 over 5 years
Not sure what the saving is over the same period for all the taxes otherwise paid for petrol/diesel
Techno-phile
S100D, P3D- in garage
Would anybody be interested in giving up their right to buy the car for the residual at the end of the lease?
It should be possible to find investors prepared to lease the cars with zero interest, in return for the right to buy at the residual at the end of a 3 year lease.
This might be attractive to those who don't believe FSD will available in Oz within 3 years.
Whereas investors who think that RoboTaxis might be possible in 3 years, should be keen to invest.
Elon's latest tweet "To be clear, consumers will still be able to buy a Tesla, but the clearing price will rise significantly, as a fully autonomous car that can function as a robotaxi is several times more valuable than a non-autonomous car."
It should be possible to find investors prepared to lease the cars with zero interest, in return for the right to buy at the residual at the end of a 3 year lease.
This might be attractive to those who don't believe FSD will available in Oz within 3 years.
Whereas investors who think that RoboTaxis might be possible in 3 years, should be keen to invest.
Elon's latest tweet "To be clear, consumers will still be able to buy a Tesla, but the clearing price will rise significantly, as a fully autonomous car that can function as a robotaxi is several times more valuable than a non-autonomous car."
IMO, elons comments are from within a tesla bubble. I have no intention of ever buying a car to run a taxi service, and I have no issue driving myself, so if in 3 years tesla dont want to sell me a car at a competative price, then I’ll buy another brand of mainstream electric.
Just confirmed with ANZ that their rate is 3.29%, which is their advertised rate of 3.99%, with a 0.7% discount from the Clean Energy Finance Corporation
ANZ Vehicle Finance | ANZ
About us - Clean Energy Finance Corporation (CEFC)
ANZ Vehicle Finance | ANZ
About us - Clean Energy Finance Corporation (CEFC)
Techno-phile
S100D, P3D- in garage
A potential investor into the Model3 RoboTaxi fleet scheme outlined above has pointed out a fatal flaw.
The investors who are interested in taking back the car for the residual are gambling that FSD will work in 3 years, but FSD must be bought now. By the time it works it will probably be more expensive.
However the buyers who may be interested in giving up their cars in 3 years time probably don't believe that FSD will work any time soon, so are unlikely to want to include it in their purchase now.
In any case nobody has said that zero interest rate is a sufficient incentive to give up the right to buy the car for the residual after 3 years.
The investors who are interested in taking back the car for the residual are gambling that FSD will work in 3 years, but FSD must be bought now. By the time it works it will probably be more expensive.
However the buyers who may be interested in giving up their cars in 3 years time probably don't believe that FSD will work any time soon, so are unlikely to want to include it in their purchase now.
In any case nobody has said that zero interest rate is a sufficient incentive to give up the right to buy the car for the residual after 3 years.
Shock-On-T
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Sorry for doubting you! I had no idea the government was supporting that green discount. Incredible!
Nathanwhalan
Member
Hi Guys,
Had a question around financing. Hope i can ask it here.
Is it possible to obtain an ABN for the purpose of purchasing a car for business use but not actually doing any business use or very minimal business use (such as 300kms p/a)?
The finance rates for ABNs are significantly better than personal loans. Thanks in advance.
Had a question around financing. Hope i can ask it here.
Is it possible to obtain an ABN for the purpose of purchasing a car for business use but not actually doing any business use or very minimal business use (such as 300kms p/a)?
The finance rates for ABNs are significantly better than personal loans. Thanks in advance.
For me to lease it means paying the
Novated leases over a long period on expensive vehicles don’t make sense with such high FBT payments (20% of FBT value annually, post tax - using employee contribution method).
Also the running expenses aren’t as high as a fuel burner as electricity cannot be claimed as an expense making the figures less appealing.
Novated leases over a long period on expensive vehicles don’t make sense with such high FBT payments (20% of FBT value annually, post tax - using employee contribution method).
Also the running expenses aren’t as high as a fuel burner as electricity cannot be claimed as an expense making the figures less appealing.
You need to ask your accountant as the laws arent that simple, and each circumstance is different
+1 for talking to your accountant regarding whether you can do that or not. It depends on a lot of factors including your type of work, location etc.
Techno-phile
S100D, P3D- in garage
If you use you car for ride-share (and probably for other business use, but check with your accountant), there are at least two problems.
The full cost of the car cannot be depreciated - only from the car depreciation limit of $57,581. Also if you claim input GST for business use, then the maximum is 1/11 of $57,581 ( x business use %), but then you must account for all the GST on sale (x business use %) to the ATO!
Fortunately I did not claim input GST on registering for GST for ride-share, since I had already owned the car privately beforehand.
The full cost of the car cannot be depreciated - only from the car depreciation limit of $57,581. Also if you claim input GST for business use, then the maximum is 1/11 of $57,581 ( x business use %), but then you must account for all the GST on sale (x business use %) to the ATO!
Fortunately I did not claim input GST on registering for GST for ride-share, since I had already owned the car privately beforehand.
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