05 TD Prado

[traalek Lurker Find all posts View Profile Close traalek]

Hi Guys,

Ex-prado owner here, looking to get back into the game. I sold the last one coz me and the missus went back to uni, and couldn't justify owning a 4by
without making use of it (had to use holidays for practical placements etc).

An opportunity has come up to possibly purchase my soon to be father-in-laws 05 TD. It has done a little above average km's at around the 80K mark.
Excellent condition and obviously I know the driving history, and he treats the car right. He has is on a lease of some sort so also wants to try and sell
it for a good price to keep fringe benefits tazx down (? don't really understand that), and wants me to come up with a figure to offer him.

I know if he takes it as a trade in (for a D4D), I could probably offer him a similiar price, as long as it is in the low 30's marl. Do you guys think this is
a fair price to offer? :?

[photoprado Avid PP Poster! Find all posts View Profile Close photoprado]

Re: 05 TD Prado

Well, Redbook says it's worth 27800 to 31000 as tradein with 45-75k kms if it's an auto GXL.

Michael

[John Member Find all posts View Profile Close John]

Re: 05 TD Prado

Don't worry about the FBT, as it only applies to the lease payments, not the residual payout at the end of the lease (which is subject to GST). However, that figure would have been agreed upon when he took the lease out back in '05. It should be somewhere in the order of $22500 plus GST if his residual was around 40%. That's what mine was.

The price he sells it for is unrelated unless he sells it to you for less than the residual ops: Not trying to be smart, but I know you'll check that he has clear title from the lease company before you buy it, eh? :wink:

[Signature035 Advanced Member Find all posts View Profile Close Signature035]

Re: 05 TD Prado

I tend to keep an eye on the TD's (owning an 04). 'Retail' you see the 05's around $36 - $38k depending on k's and fitout.

[vx05 Member Find all posts View Profile Close vx05]

Re: 05 TD Prado

Hey traalek
The tax he may be worried about is more likely to do with the depreciation of the car. The tax office allow a certain percentage depreciation on a vehicle each year, and if you then sell that vehicle for more than the depreciated amount, you are liable for tax on the difference.
So if your $50k car is depreciated to $30k for tax purposes, and you sell it for $35k, you pay tax on the $5k "profit" that you have made.
Hope that makes sense. Of course all advice is general, blah, blah.

If it was me, I would ask him to get a trade in valuation from the dealer he intends to purchase through, and then offer to pay him a little bit extra. But around 30ish seems about right. Have a look at carpoint or trading post, they seem to start around $31k or so, depending on condition and k's and go through to around $50k for a grande with low k's. Either way, offer what you're happy with, the worst he can say is no.

[ntp Addicted PP Member Find all posts View Profile Close ntp]

Re: 05 TD Prado

An opportunity has come up to possibly purchase my soon to be father-in-laws 05 TD.

The benefits of marriage, huh? :shock: :lol: Surely he will look after his soon-to-be son-in-law???

[John Member Find all posts View Profile Close John]

Re: 05 TD Prado

Steve, if the vehicle was bought on a novated lease (which most are, nowadays), then there is no depreciation schedule as the lessee has already paid FBT on the lease, and GST on the residual. Therefore their tax obligations on the vehicle have already been met. There is no further obligation if the lessee sells it for more than the residual payout.

That's the advantage of doing it this way - if you pick a vehicle which holds it's value against the residual (like a Prado), then you come out ahead with a finance lease. If you're silly enough to novate a Commodore via a finance lease, then you lose big time because the residual is significantly more than the vehicle's worth after 3 years. That's why most Commodore buyers do an operating lease and hand it back at the end of the period.

Many of my colleagues have chosen the right vehicle, finance leased it, and sold it for a profit at the end of the agreement. All you need to do is a little research into the used value of the vehicle you desire. :mrgreen: I would have sold mine but I enjoyed it so much!

[vx05 Member Find all posts View Profile Close vx05]

Re: 05 TD Prado

John,
I'll happily bow out of this one now, I have only ever dealt with 'traditional' lease or hire-purchase arrangements, where there is a tax adjustment at the end of ownership.
Of course, I don't know how much help to traalek any of this is, but interesting (in a dull and slightly nerdy way :wink: ) nonetheless!

[traalek Lurker Find all posts View Profile Close traalek]

Re: 05 TD Prado

Hey guys,

thanks for the info. and yes...it's an auto GXL. stillings weighing up some options...

[traalek Lurker Find all posts View Profile Close traalek]

Re: 05 TD Prado

I have to say I'm also checking out the new turbo foresters, although i know i'll cop a lot
of crap from the prado-lovers. (obviously the forester is not being considered for its
off road ability).

[ValleyGXL120 Junior Member Find all posts View Profile Close ValleyGXL120]

Re: 05 TD Prado

:?:Some thing not right about the last post Admin- Check out all 3 posts of this member :?:

[Guest Close Guest]

Re: 05 TD Prado

Yep, another one bites the dust, IP banned.

[D4D Addicted PP Member Find all posts View Profile Close D4D]

Re: 05 TD Prado

Yep, another one bites the dust, IP banned.

Bugger, he won't get to read the 'polite' PM I sent him :lol: