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      02-07-2013, 03:44 PM   #23
mackie777
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and what was your Drive away price Bimmer, if you dont mind me asking.

Obviously the more kms on the full circle the less your residual value=increase in monthly payment
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      02-07-2013, 04:06 PM   #24
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I got Full Circle back in Nov last year too.

I am the kind of guy who is OCD about repeatedly checking the value of his car against the payout figure to see whether he is in the black or in the red. Getting Full Circle means I won't even bother.

BMW (or at least BMW Melbourne) seems to pushing that very hard as I have noticed they have now put the Full Circle sticker on windscreen of every car sitting in display in the Southbank showroom.
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      02-08-2013, 08:09 AM   #25
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83K
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      02-08-2013, 08:40 AM   #26
mackie777
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that is a good rate, under 6%
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      02-23-2013, 05:36 AM   #27
M-Sport328i
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I used a BMW finance chattel mortgage. No gst like on a lease or a chp. Same tax benefit as a chp in terms of running cost .and depreciation. Typically in past I have notated but with the changes to statutory fraction being 20pc now vs 7 pc for my typical use that became unattractive.
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      02-23-2013, 08:02 AM   #28
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Quote:
Originally Posted by M-Sport328i View Post
I used a BMW finance chattel mortgage. No gst like on a lease or a chp. Same tax benefit as a chp in terms of running cost .and depreciation. Typically in past I have notated but with the changes to statutory fraction being 20pc now vs 7 pc for my typical use that became unattractive.
How does the chattel mortgage work? I couldnt really find any info online about this.
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      02-23-2013, 04:54 PM   #29
mackie777
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chattel you can claim your gst entitlement up front.
its what i prefer to use with my cars as mine is 90% business use
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      02-23-2013, 10:36 PM   #30
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Quote:
Originally Posted by mackie777 View Post
chattel you can claim your gst entitlement up front.
its what i prefer to use with my cars as mine is 90% business use
FAR OUT ok no one told me this. Can we swap finance packages half way through?
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      02-24-2013, 10:40 AM   #31
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So the chattel option would only be useful large portion of usage being 'work'?
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      02-24-2013, 03:35 PM   #32
mackie777
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Generally yes, the Chattel mortgage is more suited to predominate business usage.
But depends how your business is setup as well. Well best for Cash based accounting system for BAS
I honestly dont know enough about it all, my accountant advises on all those things which is always your best option.
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