antonOO2
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Registered: 17th Sep 02
Location: Midlands
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yeah if you started that company then you would be able to claim the tax relief no matter what you are driving,i think it has to be a limited company though,but dont quote me on it.It is to cover depreciation fuel and running costs that you incur during business use.I used BMW for the 25k one and im now with land rover ,so stuck with the main dealers.
The 10k balloon is what is owing at the end of the three years finance.
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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Works like this
500 month
36 months =18000 payed
Balloon outstanding 10000
Total to pay 28000
Interest payed 3000
so £1000 a year
But this is an example and a bad one at that ,there are many better valaue deals out there.
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JadeM
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Registered: 9th Feb 06
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Can you have a PLC with only 2 people on the pay role...2 employees both MD's  
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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one director and one secratery as you need to have two people owning shares so secretary owns 1%.But the secretary can claim the tax reief on the car also.
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JadeM
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Registered: 9th Feb 06
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quote:
Originally posted by antonOO2
Works like this
500 month
36 months =18000 payed
Balloon outstanding 10000
Total to pay 28000
Interest payed 3000
so £1000 a year
But this is an example and a bad one at that ,there are many better valaue deals out there.
I get you now,
The tsb one seems to get you by the balls with regaurd to their deposit......handing back the car at end of 3yrs thus avoiding paying the balloon you still get stung for a deposit on the next car you take which can work out almost as much!!
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JadeM
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Registered: 9th Feb 06
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quote:
Originally posted by antonOO2
one director and one secratery as you need to have two people owning shares so secretary owns 1%.But the secretary can claim the tax reief on the car also.
Cool i'll be secratery 
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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yes but if you are buying, then the car will probs be worth more than the balloon after the three years anyway ,so you sell the car pay off the outstanding,Cold even make money?There so much to look into with this topic believe me ive looked and worked on every option available
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mav
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Registered: 19th Jun 01
Location: Scotland
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Colin if you credit rating etc is good and have the cash coming in and not the commitments going out you can get loans for any amount really.
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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quote:
Originally posted by Melville
Why not lease a car if your looking at that amount.
This is by far the best way to own a supercar/expensive car as you dont feel the depreciation/servicing costs and you just get a new car every year/3 years.
leases with buy back and return clauses are very good too as borrowing costs are lower too
If it were me I would go out and lease a decent 911 Carrera S for around the 475-580 mark and try and wangle a 12 month contract so I could change my car more often. Most contracts tend to be for 3 years but it still is more financially viable as you dont feel the hit of depreciation.
Only thing with this you dont ever feel the car is yours but if you can get over that fact its the best way to go, how else do you think most people afford decent cars?
What ever you do dont ever agree to dealership finance its a total rip off anyone who buys a car regardless of model on finance is clearly just pouring money down the drain and cant see the full picture.
[Edited on 04-09-2006 by Fad]
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jr
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Registered: 20th May 02
Location: Kent
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i couldnt do something where it wasnt my car/me putting the £££ to own it
just wouldnt feel right, wouldnt look after it/take care of it etc
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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Depends cos most people who do leases tend to keep something sentimental in the garrage like a neighbour of mine has a nice new Jag XK on lease which is a nice every day car then in a lock up he has a 125 bhp Mini which he takes to shows and a Ferrrari 348 for sunny days.
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JadeM
Premium Member
Registered: 9th Feb 06
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quote:
Originally posted by jr
i couldnt do something where it wasnt my car/me putting the £££ to own it
just wouldnt feel right, wouldnt look after it/take care of it etc
But that wouldnt be a problem if you dont plan to fuck around with it, mod it, care about it too much...like to replace it often!!!
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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I mean the best thing is to take a lease with a buy back clause as its go a really good rate usually but in all fairness I dont think thats the issue here as you wish to change your car more often.
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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Fad i understand most of what you are saying but leasing is pouring money down the drain am i not wrong?I am buying my car this time as i feel it is more beneficial,i still have the option to get out of the contract at any point but atleast my money is going to towards keeping the car if i decide to.At the end of the the three years the car will be worth more than the finance outstanding as the dealership give you a guarenteed value on the car after the 3years.at this point you choose to either keep the car and pay of the balloon or sell and pay off the finance.
[Edited on 04-09-2006 by antonOO2]
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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911 Carrera S for around the 475-580
where are you finding this deal??
also servicing is not included in many deals atall.so you have to pay for this .
Also if the car is over three years old then the warranty will be out ,if it is non maintained then you are liable for all problems with the car
[Edited on 04-09-2006 by antonOO2]
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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This is where the dealer capitalises as your not factoring depreciation and servicing costs into the equation and also the fact the car actually still belongs to the finance company?
Also a dealer may give you a definate price 9not often though) but I bet you my bottom dollar it'll be bellow market value and you must rember cars depreciate at different rates for example high end luxury vauxhalls depreciate greatly for some reason.
Then what happens is you get the cars remaining value put towards a new car at then end of three years, you will not get any discounts which a normal buyer will get and your no beter off than you were with a lease?
Its all swings and rounabouts but trust me on this I did a Project at uni on Leases versus Finance options such as loans and dealership finance and I would never entertain the idea of it.
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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quote:
Originally posted by antonOO2
911 Carrera S for around the 475-580
where are you finding this deal??
[Edited on 04-09-2006 by antonOO2]
Check int he back of many motoring magazines and also check this:
http://www.prestige-car-leasing.co.uk/car_leasing/porsche/
The figure I quoted above was a ball park figue but you get the general idea
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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My car is serviced for the 3 years in the price.
The car does belong to the finance company yes but after the 3 years you have bought a fair share in it .Whereas three years in the same lease ,you would be in the same position but would not have bought anything for your money.I know you are saying that ive got to take the depreciation on my back but i havent as i have the guarenteed value of the car with the dealer.And to be honest i dont think that my car will be worth as little as that after the three years.Range rover tend to hold there value very well.
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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yes but they are still business prices ,the personal wil be higher.
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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Only thing is to benefit from finance deals you have to put a hefty deposit down which you dont otherwise with a lease.
I personally wouldnt use dealership finance or a lease (unless I wanted a prestige car)
Loans with low rates are the best bet if you want to keep a car and dont do what my mate did...remortgages his house to buy an M3
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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quote:
Originally posted by antonOO2
yes but they are still business prices ,the personal wil be higher.
I know but this was an example I have talked to people with leases and if you shop around great deals can be had.
In Collins case if you read up at the top he wants to change his car more frequently hence why I sugested this option.
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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at the M3
Lease will still ask for 3 months upfront in most cases.im paying to buy pretty much the same monthly on the RR as is shown on that site to lease.My dad has already said that he wants to buy the car for the outstanding finance price when the 3 years is up anyway.at the moment you can order these and sell them for 3-4k profit as people are not wanting to wait for them.
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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yes agree, if changing your car every year then you are best to lease.Especially if it is brand new .
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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Its the only way I would own a pretiege car unless i wanted something for sentimental value to wrap up in wool in the garage
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
User status: Offline
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We know that someone be it me ,my dad or my mum will keep the RR.Thats why buying in this case i a better option.
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