Hi,

I would be most greatful for some advise if possible:

I am a currently looking at the option of a novated lease for a used $20k car but am still unsure whether it is the most efficient option. Probably worth noting that I am a public health care worker (paramedic) based in QLD and as such, am elgible for 18k FBT excemption per annum. The numbers seem to be pointing towards salary packaging the car but these numbers only seem best over the term of the lease (ie once the lease is over, the buy out cost is $9K for the leased car but if I bought a car outright, the total resale is mine to keep / reinvest in the next car).

Hoping someone has had a similar problem.

Thanks,

Matt

Hi There,

I would suggest you to go for a new car rather than leasing out the car. The reason is already pointed by you that resale value for car can be used to buy a next car. Lease is a good financial alternative but usually till the lease is going through. I would recommend buying a new car.

All the best..............

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Margaret Jacob
Financial Consultant
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