Anyone want my 1M allocation? (Nov)

jozeff · 06-18-2011, 03:17 AM

Guys I would absolutely love to jump on this, but i'm dreading the repayments on 115,000.....

Anybody (you can PM me if you like) that is purchasing this car under a CHP know what the repayments are on say a 60% residual over 5 years?

Plus i would also have to get out of my existing CHP (only year 2 of 5 years).. dunno if im allowed to get out of it?!

Joe

lavaletta · 06-18-2011, 06:31 PM

Quote:

Originally Posted by jozeff

Guys I would absolutely love to jump on this, but i'm dreading the repayments on 115,000.....

Anybody (you can PM me if you like) that is purchasing this car under a CHP know what the repayments are on say a 60% residual over 5 years?

Plus i would also have to get out of my existing CHP (only year 2 of 5 years).. dunno if im allowed to get out of it?!

Joe

You'll be lucky to get more than 45% residual over five years. A 45/5 will be something in the order of $1700 per month.

Alpine* · 06-18-2011, 07:18 PM

Quote:

Originally Posted by lavaletta

You'll be lucky to get more than 45% residual over five years. A 45/5 will be something in the order of $1700 per month.

Yeh what he said. ^

We are CHP 30/5 $1850 odd pm

jozeff · 06-18-2011, 08:04 PM

Thanks for the replies guys...

If it was around the 1400 mark it would have been okay... 1800 is a bit steep...

Sorry to hijack the thread but i have always wanted to know a couple of things about CHP:

1) Can you change cars somehow half way through the loan period? And how?

2) Can you CHP a used vehicle?

sparoz · 06-18-2011, 08:09 PM

Get out of the current lease is always not a problem especially if you are going into a new one.

The only tip I give to everyone is that if you have to stretch your budget to buy a car, then you shouldn't. If you haven't got a budget, then you should do one. A car is always going to be NPVNegative - if fulfilling a want now, means giving up future wants, then IMHO you should wait. There is always a better car later.

amk2912 · 06-19-2011, 12:08 AM

Quote:

Originally Posted by sparoz

The only tip I give to everyone is that if you have to stretch your budget to buy a car, then you shouldn't - if fulfilling a want now, means giving up future wants, then IMHO you should wait. There is always a better car later.

This man speaks the truth.

Ascari · 06-20-2011, 05:21 AM

Agreed. Debt on cars is not a great formula unless you're able to deduct the cost of money (interest) as a business expense.

Zuzu · 06-20-2011, 06:53 AM

Quote:

Originally Posted by Ascari

Agreed. Debt on cars is not a great formula unless you're able to deduct the cost of money (interest) as a business expense.

Aint that the truth..

MikeVictor · 06-20-2011, 07:55 AM

Quote:

Originally Posted by sparoz

Get out of the current lease is always not a problem especially if you are going into a new one.

The only tip I give to everyone is that if you have to stretch your budget to buy a car, then you shouldn't. If you haven't got a budget, then you should do one. A car is always going to be NPVNegative - if fulfilling a want now, means giving up future wants, then IMHO you should wait. There is always a better car later.

Well said, mate.

trancier · 06-23-2011, 02:50 AM

Ok no bites so far according to the dealer, and now I'm thinking of keeping it anyway, so off market for now.

sparoz · 06-23-2011, 03:46 AM

Quote:

Originally Posted by trancier

Ok no bites so far according to the dealer, and now I'm thinking of keeping it anyway, so off market for now.

lol!

06-18-2011, 03:17 AM	#23
jozeff Private First Class 20 Rep 139 Posts Drives: BMW 130i Join Date: Jun 2009 Location: Australia iTrader: (0)	Guys I would absolutely love to jump on this, but i'm dreading the repayments on 115,000..... Anybody (you can PM me if you like) that is purchasing this car under a CHP know what the repayments are on say a 60% residual over 5 years? Plus i would also have to get out of my existing CHP (only year 2 of 5 years).. dunno if im allowed to get out of it?! Joe
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06-18-2011, 08:04 PM	#26
jozeff Private First Class 20 Rep 139 Posts Drives: BMW 130i Join Date: Jun 2009 Location: Australia iTrader: (0)	Thanks for the replies guys... If it was around the 1400 mark it would have been okay... 1800 is a bit steep... Sorry to hijack the thread but i have always wanted to know a couple of things about CHP: 1) Can you change cars somehow half way through the loan period? And how? 2) Can you CHP a used vehicle?
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06-18-2011, 08:09 PM	#27
sparoz Brigadier General 191 Rep 4,848 Posts Drives: VO 1///M; Macan Turbo Join Date: Jun 2008 Location: Sunshine Coast iTrader: (0)	Get out of the current lease is always not a problem especially if you are going into a new one. The only tip I give to everyone is that if you have to stretch your budget to buy a car, then you shouldn't. If you haven't got a budget, then you should do one. A car is always going to be NPVNegative - if fulfilling a want now, means giving up future wants, then IMHO you should wait. There is always a better car later. __________________ Macan S Diesel - Carrera White Macan Turbo - White 1///M - Valencia Orange
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06-20-2011, 05:21 AM	#29
Ascari Second Lieutenant 11 Rep 249 Posts Drives: '11 AW 1M - 08 X3 MSport 3.0D Join Date: May 2011 Location: Sydney, Australia iTrader: (0)	Agreed. Debt on cars is not a great formula unless you're able to deduct the cost of money (interest) as a business expense.
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06-23-2011, 02:50 AM	#32
trancier New Member 1 Rep 13 Posts Drives: 1M, M3 Join Date: Jan 2007 Location: Australia iTrader: (0)	Ok no bites so far according to the dealer, and now I'm thinking of keeping it anyway, so off market for now.
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