Buy new or used
Do I buy new or used vehicle for my novated lease?
Why not? In some scenarios buying a used car can be great choice.
If you drive low kms every year, a young used car could allow you to step up to the next car bracket
An example might be;
If you drive 15,000 kms a year and might be in the market to purchase a new car around $55-$60,000.
$50-$60,000 buys a very nice new car, maybe a Ford. ("New cars for sale")
But for near the same money, you could also buy last years model with low kms and better spec's.
(Don't believe me "Used cars for sale")
Given, Ford and BMW are very different vehicles, but that used BMW has already past its first year of 'off the floor new vehicle depreciation", where as the Ford is about to suffer the impact.
Under a novated lease, the costs are not too much different either.
The novated lease for the Ford would have a slightly lower maintenance budget as the vehicle is new, ie minor services up to 60,000 kms.
The novated lease for the BMW would be mildly higher in the running budget as its rego maybe due sooner and so may the tyres.
Want to see the impact at the end of 3 years, give us a call on 1300 71 38 12