Skidmarks Posted 17May, 2018 Report Share Posted 17May, 2018 21 hours ago, Coastr said: Does anyone know of any 3.2 selling recently in this price range? I sold an ‘89 for 110 recently. Brit car at that ... Quote Link to comment Share on other sites More sharing options...
MARTY Posted 17May, 2018 Report Share Posted 17May, 2018 It looks like the red 964 rs at Dutton might have finally sold I know it’s been on the market for ages but it was a sweet looking car. Quote Link to comment Share on other sites More sharing options...
Mike-S Posted 17May, 2018 Report Share Posted 17May, 2018 22 hours ago, symsy said: Was at nine auto.. was selling privately .. very well presented car , yes interesting to see what 964's are actually selling for now , if it sold . Yes, same car, immaculately presented. Seems good cars are changing hands with an indication of the market picking up sales wise after the relatively fallow recent period. Quote Link to comment Share on other sites More sharing options...
poetry911 Posted 17May, 2018 Report Share Posted 17May, 2018 2 hours ago, TwoHeadsTas said: He's finally dropped the price. Has been $46500 for a good 6-9 months I saw a 98-99 Black Coupe 4 starting at 32k at Manheim on Wednesday. Manual. Very good paint etc. Might go up again as no one bid. Quote Link to comment Share on other sites More sharing options...
JonoF Posted 17May, 2018 Report Share Posted 17May, 2018 Gents I have an interesting question for the PFA brains trust. Do any finance companies offer car leases for classic cars? I understand that given classics are rarely depreciating, it makes it quite difficult to properly structure the lease. But has anyone had any success? Alternatively, has anyone figured out an interesting “tax efficient” buying scheme for classic cars? For example, you could negatively gear a “drive a supercar for the day” style business fairly easily? It would never make more money than the interest repayments on a fully borrowed car. Happy to move to a different thread if preferred. Cheers Jono Quote Link to comment Share on other sites More sharing options...
bear924 Posted 18May, 2018 Report Share Posted 18May, 2018 Before selling my SC, I spoke with a novated lease company about the company buying back the SC from me. They seemed happy enough to do this and I it would make a lot of sense if you knew a car had a few big expenses on the horizon (so that the expenses could be funded pre-tax). I decided not to do this in the end however believe it could be done. Quote Link to comment Share on other sites More sharing options...
JonoF Posted 18May, 2018 Report Share Posted 18May, 2018 3 minutes ago, bear924 said: Before selling my SC, I spoke with a novated lease company about the company buying back the SC from me. They seemed happy enough to do this and I it would make a lot of sense if you knew a car had a few big expenses on the horizon (so that the expenses could be funded pre-tax). I decided not to do this in the end however believe it could be done. Interesting. Do you recall which company it was? Quote Link to comment Share on other sites More sharing options...
Ozvino Posted 18May, 2018 Report Share Posted 18May, 2018 37 minutes ago, JonoF said: Gents I have an interesting question for the PFA brains trust. Do any finance companies offer cr leases for classic cars? I understand the given classics are rarely depreciating, it makes it quite difficult to properly structure the lease. But has anyone had any success? Alternatively, has anyone figured out an interesting “tax efficient” buying scheme for classic cars? For example, you could negatively gear a “drive a supercar for the day” style business fairly easily? It would never make more money than the interest repayments on a fully borrowed car. Happy to move to a different thread if preferred. Cheers Jono I am sure the forum has accountants who can advise. I think the days have past us where you could liquidate your toys as a tax write off. Even Tradies are getting whacked with the 80k Hiluxes they drive around in. My suggestion is be really cautious and think long and hard. I have looked into this in the past and its a very grey area probably best avoided. Self managed Super isn't an option, I researched that. If you go the investment route (or even use the car as an "advertising platform") what you save on GST, you get screwed over with FBT and other areas. Dave Troubleshooter 1 Quote Link to comment Share on other sites More sharing options...
bear924 Posted 18May, 2018 Report Share Posted 18May, 2018 The following is in reference to novated leasing, I'm unsure whether it is true for general leasing through a business etc. I agree that FBT is a major factor when considering whether it's worth doing a lease. The key thing about FBT is that it can be offset by the equivalent amount of post tax funds. For example - $100k car is subject to a $20k FBT cost. The FBT cost can be offset by paying $20k of post tax, per year into the car fund. $20k is a significant amount of money (in terms or car running costs), so therefore it only makes sense if the total running costs of the car for that year are unusually high. The only way a car would cost this much would be: - Lease the vehicle for one year only. This would allow you to pay down 45% of the car's value ($45k in the example above), which would mean you'd get $25k of pretax money (presuming the car's value didn't decrease over that time). Key to this strategy is to purchase a non depreciating car. - Lease the car over a high maintenance period. If a car was visually in a fair condition (as in, someone will happily loan against it) however was due for an engine overhaul. I imagine it would be possible to lease the car for a year and complete the engine work (or similar)1 in this period. Once again, the engine work would need to be greater than 20% of the car's value, otherwise it would make no sense to lease. When considering this, one needs to also consider the hassle of organising the lease and the high funding costs associated with leasing (my calcs suggest most novated leases have an interest rate of ~10-12%). As a disclaimer - I'm not an accountant or someone who knows anything about leasing. I'm just a guy who does lots of kms in a dd and has spent some time understanding novated leasing so that I can reduce my commuting costs as much as possible. My typical approach is to purchase the least expensive car that can be leased and also meets my requirements. I then lease for as long as possible and use the difference in FBT costs and running costs to generate reduced operating costs overall... this equates to about $4k per year post tax. Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 18May, 2018 Report Share Posted 18May, 2018 1 hour ago, Ozvino said: My suggestion is be really cautious and think long and hard. I have looked into this in the past and its a very grey area probably best avoided. Self managed Super isn't an option, I researched that. If you go the investment route (or even use the car as an "advertising platform") what you save on GST, you get screwed over with FBT and other areas. Dave I know someone who has a Kremer 934 in his super fund. It's not even in the country and I don't think he's ever driven it, that is a real shame... But bloody good asset to have though!!! JonoF 1 Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 18May, 2018 Report Share Posted 18May, 2018 32 minutes ago, bear924 said: The following is in reference to novated leasing, I'm unsure whether it is true for general leasing through a business etc. I agree that FBT is a major factor when considering whether it's worth doing a lease. The key thing about FBT is that it can be offset by the equivalent amount of post tax funds. For example - $100k car is subject to a $20k FBT cost. The FBT cost can be offset by paying $20k of post tax, per year into the car fund. $20k is a significant amount of money (in terms or car running costs), so therefore it only makes sense if the total running costs of the car for that year are unusually high. The only way a car would cost this much would be: - Lease the vehicle for one year only. This would allow you to pay down 45% of the car's value ($45k in the example above), which would mean you'd get $25k of pretax money (presuming the car's value didn't decrease over that time). Key to this strategy is to purchase a non depreciating car. - Lease the car over a high maintenance period. If a car was visually in a fair condition (as in, someone will happily loan against it) however was due for an engine overhaul. I imagine it would be possible to lease the car for a year and complete the engine work (or similar)1 in this period. Once again, the engine work would need to be greater than 20% of the car's value, otherwise it would make no sense to lease. When considering this, one needs to also consider the hassle of organising the lease and the high funding costs associated with leasing (my calcs suggest most novated leases have an interest rate of ~10-12%). As a disclaimer - I'm not an accountant or someone who knows anything about leasing. I'm just a guy who does lots of kms in a dd and has spent some time understanding novated leasing so that I can reduce my commuting costs as much as possible. My typical approach is to purchase the least expensive car that can be leased and also meets my requirements. I then lease for as long as possible and use the difference in FBT costs and running costs to generate reduced operating costs overall... this equates to about $4k per year post tax. My wife did her 987 through a Novated Lease, she is Midwife / Lactation Consultant working for a public hospital. Car was around 8 years old at the time (2005 car). Macquarie Leasing was happy to lease a car that old at that time, 5 year lease on a $48k car. I know the Boxster is a depreciating asset, but the value at the end of the lease (December this year) will be probably $30ishk, but Residual Payout is about $12k from memory. We are debating whether we keep the car or do it all over again, probably will keep at this stage. Whilst I haven't had a chance to pull out my CCH Master Tax Guide yet (I am a bean counter...), I think there is still a provision which potentially taxes the difference between sale value and payout value if sold, so we will need to tread carefully around that one. OK had a look at this - this appears to be more a problem where the person with the car is an associate of the taxpayer paying for the car, eg director or shareholder of company, so this would appear to be more of a problem for those in private enterprise...... Moto - talk with your accountant.... Our Novated Lease has a fairly generous maintenance & tyre component, which I hoped would cover an IMS bearing and clutch replacement near the end of the lease, but we have had a fairly regular tyre bill, and a secondary airpump replacement via the dealer consumed a heap of what I hoped we could keep up our sleeve. Lesson to self, shouldn't have waited so long to move to an independent for servicing, may have been a much smaller bill...) But, looking back, I realise that the Macquarie interest rate is pretty high, next time I will try to source my own finance and see if Maxxia will work with that, and next time will look carefully at the add-on insurances they manage to sneak in - i.e. I don't think we need payout shortfall insurance when buying a 2nd hand Porsche, that was a shitload.... bear924 1 Quote Link to comment Share on other sites More sharing options...
reggiegums Posted 18May, 2018 Report Share Posted 18May, 2018 1 hour ago, TwoHeadsTas said: I know someone who has a Kremer 934 in his super fund. It's not even in the country and I don't think he's ever driven it, that is a real shame... But bloody good asset to have though!!! Why is it in his superfund? If its overseas it'll probably never even get a look in from the ATO. Quote Link to comment Share on other sites More sharing options...
Honest Ron Posted 18May, 2018 Report Share Posted 18May, 2018 17 hours ago, 1q2w3e4r said: I am looking to dip my toe into the 993 TT market if anyone knows someone with one in the garage they are considering off loading. Hi I've got a 993 TT, Australian delivered, ocean blue, 74000K's. Car is in Perth at OCD (obsessive car detailing) they have photos on there website. Cheers Ron 0408918896 micknine01 1 Quote Link to comment Share on other sites More sharing options...
Troubleshooter Posted 18May, 2018 Report Share Posted 18May, 2018 "Honest" Ron, good way to achieve a sale Ron ... What's the price? micknine01 1 Quote Link to comment Share on other sites More sharing options...
Honest Ron Posted 18May, 2018 Report Share Posted 18May, 2018 8 minutes ago, Troubleshooter said: "Honest" Ron, good way to achieve a sale Ron ... What's the price? I'm looking at $320. I am the third owner and have had the car for eight years. Troubleshooter 1 Quote Link to comment Share on other sites More sharing options...
P-Kay Posted 18May, 2018 Report Share Posted 18May, 2018 Please update your membership to Financial status or remove your ad thanks! Peter John, JonoF and ANF 3 Quote Link to comment Share on other sites More sharing options...
Honest Ron Posted 18May, 2018 Report Share Posted 18May, 2018 18 minutes ago, P-Kay said: Please update your membership to Financial status or remove your ad thanks! Done 18 minutes ago, P-Kay said: Please update your membership to Financial status or remove your ad thanks! P-Kay and ANF 1 1 Quote Link to comment Share on other sites More sharing options...
P-Kay Posted 18May, 2018 Report Share Posted 18May, 2018 Good man ? Thanks!!! JonoF and symsy 2 Quote Link to comment Share on other sites More sharing options...
Troubleshooter Posted 18May, 2018 Report Share Posted 18May, 2018 Who dares wins ... $115k on the spot and someone will now pick up a top value hotrod ... they must be sick of holding the cost for the last 6 months.... 1999 Porsche 911 GT3 996 Manual Save 22 Odometer 56,757 km Body Coupe Transmission Manual Engine 6cyl 3.6L Petrol CarFacts get report $125,888* Excl. Govt. Charges Add repayment settings "HUGE REDUCTION IN PRICE 7 DAYS ONLY 1999 996 PORSCHE GT3 RARE CLUBSPORT EDITION Porsche GT3..." Quote Link to comment Share on other sites More sharing options...
GUT Posted 18May, 2018 Report Share Posted 18May, 2018 1 minute ago, Troubleshooter said: Who dares wins ... $115k on the spot and someone will now pick up a top value hotrod ... they must be sick of holding the cost for the last 6 months.... 1999 Porsche 911 GT3 996 Manual Save 22 Odometer 56,757 km Body Coupe Transmission Manual Engine 6cyl 3.6L Petrol CarFacts get report $125,888* Excl. Govt. Charges Add repayment settings "HUGE REDUCTION IN PRICE 7 DAYS ONLY 1999 996 PORSCHE GT3 RARE CLUBSPORT EDITION Porsche GT3..." Too soon! Too soon! Put the price back up for a few months please! Troubleshooter and Peter M 2 Quote Link to comment Share on other sites More sharing options...
Troubleshooter Posted 18May, 2018 Report Share Posted 18May, 2018 13 minutes ago, GUT said: Too soon! Too soon! Put the price back up for a few months please! I'm in the same boat, not in my sights atm, a few months and I'd have a stab at it - I'm putting a few cars up for sale in a month Quote Link to comment Share on other sites More sharing options...
1q2w3e4r Posted 18May, 2018 Report Share Posted 18May, 2018 4 hours ago, Honest Ron said: I'm looking at $320. I am the third owner and have had the car for eight years. Hey Ron, thanks I'll have a look. I'm chasing a silver (arctic) or black on black. Quote Link to comment Share on other sites More sharing options...
micknine01 Posted 18May, 2018 Report Share Posted 18May, 2018 18 minutes ago, Troubleshooter said: - I'm putting a few cars up for sale in a month What have ya got @Troubleshooter? Come on, give us a taster JWM 1 Quote Link to comment Share on other sites More sharing options...
JWM Posted 18May, 2018 Report Share Posted 18May, 2018 1 minute ago, 901er said: What have ya got @Troubleshooter? Come on, give us a taster Beat me too it ?... We definitely need a PFA pre-sale preview... ? micknine01 1 Quote Link to comment Share on other sites More sharing options...
Troubleshooter Posted 18May, 2018 Report Share Posted 18May, 2018 5 minutes ago, 901er said: What have ya got @Troubleshooter? Come on, give us a taster 3 minutes ago, JWM said: Beat me too it ?... We definitely need a PFA pre-sale preview... ? 987 Box S first and then the 996 X51 soon after ... micknine01 and JWM 2 Quote Link to comment Share on other sites More sharing options...
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