BMW finance

mackie777 · 02-07-2013, 02:44 PM

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

jctg · 02-07-2013, 03:06 PM

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.

bimmer-A · 02-08-2013, 07:09 AM

83K

mackie777 · 02-08-2013, 07:40 AM

that is a good rate, under 6%

M-Sport328i · 02-23-2013, 04:36 AM

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.

J1n · 02-23-2013, 07:02 AM

Quote:

Originally Posted by M-Sport328i

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.

mackie777 · 02-23-2013, 03:54 PM

chattel you can claim your gst entitlement up front.
its what i prefer to use with my cars as mine is 90% business use

J1n · 02-23-2013, 09:36 PM

Quote:

Originally Posted by mackie777

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?

bimmer-A · 02-24-2013, 09:40 AM

So the chattel option would only be useful large portion of usage being 'work'?

mackie777 · 02-24-2013, 02:35 PM

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.

02-07-2013, 02:44 PM	#23
mackie777 Enlisted Member 2 Rep 48 Posts Drives: F31 320i M Join Date: Feb 2013 Location: Sydney iTrader: (0)	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, 03:06 PM	#24
jctg Second Lieutenant 4 Rep 238 Posts Drives: F30 328i Sport BSM Join Date: Jul 2010 Location: Melbourne iTrader: (0)	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, 07:09 AM	#25
bimmer-A Private 2 Rep 72 Posts Drives: F15 X5 30D msport Join Date: Dec 2012 Location: Brisbane iTrader: (0)	83K __________________ ______________________________ 2015 F15 X5 M-sport ([COLOR="Red"]
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02-08-2013, 07:40 AM	#26
mackie777 Enlisted Member 2 Rep 48 Posts Drives: F31 320i M Join Date: Feb 2013 Location: Sydney iTrader: (0)	that is a good rate, under 6%
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02-23-2013, 04:36 AM	#27
M-Sport328i Private 6 Rep 50 Posts Drives: F30 M Sport 328i Join Date: Aug 2012 Location: Canberra, Australia iTrader: (0)	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, 03:54 PM	#29
mackie777 Enlisted Member 2 Rep 48 Posts Drives: F31 320i M Join Date: Feb 2013 Location: Sydney iTrader: (0)	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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02-24-2013, 09:40 AM	#31
bimmer-A Private 2 Rep 72 Posts Drives: F15 X5 30D msport Join Date: Dec 2012 Location: Brisbane iTrader: (0)	So the chattel option would only be useful large portion of usage being 'work'? __________________ ______________________________ 2015 F15 X5 M-sport ([COLOR="Red"]
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02-24-2013, 02:35 PM	#32
mackie777 Enlisted Member 2 Rep 48 Posts Drives: F31 320i M Join Date: Feb 2013 Location: Sydney iTrader: (0)	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.
	Appreciate 0 Quote