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Choosing the right car

Ford Falcon vs Subaru Liberty

Choose the right car & save $8,146

One of the advantages of having Autopia on your side is that you benefit from our vehicle selection assistance. Choosing the right car has a large affect on the eventual financial outcome of your novated lease. To demonstrate this, we’ll examine the difference between salary packaging two very similar cars.

Ford Falcon XT

Salary

$100,000 + super

Car allowance

$0

On road cost

$45,559

Annual kilometres

25,000kms p/a

Usage

No business use

Term

3 year lease

Subaru Liberty

Salary

$100,000 + super

Car allowance

$0

On road cost

$43,683

Annual kilometres

25,000kms p/a

Usage

No business use

Term

3 year lease

Both family sedans are comparable in price, however when you come to dispose of the Falcon at the end of the lease, you’ll find that it’s depreciated a lot more than the Liberty.

3 year cost summary Ford Falcon Subaru Liberty

Up front costs

$0

$0

Post-tax running costs

$40,426

$38,939

Opportunity cost

$3,647

$3,513

Disposal cost

$2,309

-$4,216

Total-Lifetime-Cost™

$46,382

$38,236

At the end of the term the Falcon is worth less than the finance remaining on the vehicle (the residual) so you have to pay an additional $2,309 to get out of the vehicle. The Liberty however, is worth more than the residual, so you get to pocket the difference, $4,216, tax free.

As you can see, the right advice, can make a big difference to the profitability of your novated lease. By choosing to salary package a Subaru Liberty as opposed to a Ford Falcon in this instance, you would have saved $8,146 over the term of the lease.

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