Depreciation

[Laz]

Originally Posted by wendaloo

Just having a look through the thread, and it was mentioned that an 'independant accountant' have a look at the lease. I would have thought that a 'independantFinancial Advisor' would also be an option, in regards to leasing anything? And most banks these days offer this type of 'advice' in one form or another. Taking 'advice' from unqualified people is what can get you in trouble in the first place. If you don't undertand what you are signing in regards to leases, contracts or lending, you will always have the opportunity to seek 'independant advice' before you sign, it should say that in your contract.

Just my 2c ... and just in case you are wondering, I am not an accountant or a Financial Advisor.

Fair call, I should have said someone who really is a qualified accountant - hell I could write "Laz - Tax Accountant" and nobody can say a thing - so make sure your accountant is a qualified Chartered Accountant or Certified Practicing Aaccountant - Dunno what the relevant certification is for a Financial Planner.

At the end of it all - YOU - and only you need to be completely comfortable with how the numbers get arrived at and it needs to make sense - if it can;t be explained to you simply then it will leave you disappointed.

[Laz]

Originally Posted by odelay

Laz
Would be kind of nice but probably wouldnt go that far off road and I could probably buy a jk and a XR6 Turbo for the price of the SRT8, both would be better oin their individual areas.
While the SRT8 is certainly drool worthy (ok, very drool worthy) , I have to say I just dont understand the SRT8/Turbo Territory/Cayene market, they not really fish nor fowl.

Fair enough - the SRT8 doesn;t have low range either - but it sounds AWESOME - plus it goes mighty hard (mm dunno if the XR6 turbo is actually as quick? the brakes on the SRT8 kick arse)

[Bomber]

Originally Posted by wendaloo

Just having a look through the thread, and it was mentioned that an 'independant accountant' have a look at the lease. I would have thought that a 'independantFinancial Advisor' would also be an option, in regards to leasing anything? And most banks these days offer this type of 'advice' in one form or another. Taking 'advice' from unqualified people is what can get you in trouble in the first place. If you don't undertand what you are signing in regards to leases, contracts or lending, you will always have the opportunity to seek 'independant advice' before you sign, it should say that in your contract.

Just my 2c ... and just in case you are wondering, I am not an accountant or a Financial Advisor.

Wen I'm qualified as both, and the statement was mine. "Independent" was used to differentiate between one representing the financier and one who isn't (and is therefore independent) since, thanks to FSR, even the person selling the finance at the dealers needs to be an "authorised representative" in most cases but they very often have little or no real tax knowledge.

And, as one who works for a firm which has both accountants and CFPs (that's the Advisers equivalent of the CPA or CA), not all of the Financial Advisers are clued up on the nuances of tax planning in relation to cars and some are not actually qualified to give tax advice anyway (in the same way as many accountants are not qualified to give financial planning advice).

In the case as discussed here, the contract largely is irrelevant, the important decisions and information are needed long before you get the finance contract, which is what I was trying to say.

[wendaloo]

Bomber
I understand what you are saying, as you and I both know about FSR legislations. I was just saying that for those who are not privvey to such wonderful things....(lol) to make sure they get the right 'advice' before they go jumping into something just because it sounds like a good deal.

[mattc]

Whilst this link paints a rosy picture of novated leasing (SMB is my employers chosen lease company). They do have a lot of useful information on FBT, GST, residuals, calculators to see if its worthwhile etc etc

http://www.smb.com.au/NovatedLeaseVehicles/default.aspx

Not sure how you are getting your vehicle but my lease company's fleet price was pretty good on my X-Trail.

Not sure on CHP, but on a novated lease you can (or could) get non factory mods fitted into the lease cost. eg my TJ had 3" Teraflex lift, wheels, 33's, winch, steps, lights, sunrider softtop, high lift etc all added through USA4x4 before I got the keys. There is a % limit - forget what it is.

I did go through my first lease with a tax accountant - that is probably the only useful thing I can suggest