Money magazine Comments - Ask Paul: Should I lease a car or buy it outright?

Comment by Money magazine ()

Money magazine () — Wed, 17 May 2023 16:45:26 +1000

*EDITOR'S NOTE*

Paul Clitheroe is unable to respond to questions posted here in the comments.

Click here to ask your question: https://www.moneymag.com.au/contact

Reply to article

For original story, Click Here.

Comment by Dave Goff ()

Dave Goff () — Wed, 17 May 2023 17:16:28 +1000

I agree with Pauls' suggestion to buy a reliable second hand car, especially if either your employer pays you mileage or you can claim work related mileage on your tax return.

Reply to article

For original story, Click Here.

Comment by James Henderson ()

James Henderson () — Wed, 24 May 2023 08:25:55 +1000

I am a retired financial planner and drive Uber. I have costed leasing and rejected as a viable option for even a new hybrid Corolla.i$36000 on road or at least ,$300 per f/n over 5 years which the dealer refused to disclose. If you go lease then you need to fully understand the excess you will have to pay for panel repairs if you go lease through non novated lease companies.

Then looking at 2nd hand most dealers are adding $10000, which means you would be paying like in property a percentage above for dealers handling costs above the true value.

Reply to article

For original story, Click Here.

Comment by Helen Chen ()

Helen Chen () — Mon, 29 May 2023 16:25:43 +1000

I am looking at the exact decision right now. For the same vehicle, it might work out better if you go for novated lease if you are after a new EV. Only because of the current FBT exemption that goes with new EV's (until June 2025). However agree with Paul, a reliable second-hand car is definitely the option to go if cash flow is an issue.

Reply to article

For original story, Click Here.