I have tried explaining this to people at work but all they are seeing is 2009 / 2010 cars with dollar signs in their eyes.

One bloke is about to have $5000 worth of repairs to 20 hail dents on his own car but thinks there is good value in buying a very heavily dented new car for his son that is $6000 cheaper than normal and doesnt seem to be able to compute that it wont be insured for what it would cost to repair, its not going to be worth much as a used car and could potentially be a pain to get registered. He reckons he can get it insured to cover any potential body problems that might come up in the future...LOL wut?!

so what is the difference between a 'storm damaged repairable write-off' and a 'storm damaged economic write-off' ?

I have to buy 8 new utes for a job and am looking very seriously at the hail damaged hilux's. At the end of the day they are brand new, full manufacturers warranty, never been licensed. Because of our company insurance policy (it costs me the same to insure a 10 year old hilux as it does a brand new M3) insurance is simply not an issue. We also run a $5k excess so we fix our own minor fender benders.

The damage is not really massive. All the glass has to be replaced by the dealers.

Savings are approx $6k over new. What it boils down to is do you want a mint BT50 mazda or a sligthly damaged hilux for the same money? In my book I would much rather have the hilux.

Brendon

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Losing is worse than death. You have to live with losing....

7 series bimmer aren't worth much mate, classics had 4 when i was there two weeks ago. Reckon you'd pick up a primo low kay NON damaged on for 80-90k.

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www.racewars.com.au

Yeah but I want minimum of 750li. Was a $300k plus ask new. I found a mint one for $140k but it had the wrong colour interior woodgrain and to change it was bulk coin.

Hail is not such an issue for us because it is a company car so we get gst back and assuming we are making a profit we effectively get company tax off which is a lazy 30%. There are always plenty of cars around so if it takes a couple of months to get fixed that is not an issue either.

Cheers

Brendon

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Losing is worse than death. You have to live with losing....

You don't get to claim the 30% company tax rate off a car as far as I know...

Only 18.5% (or is it 25% now) depreciation per year up to the luxury car threshold of $57,xxx.

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]

interesting, so they did offer you the warranty? went with my old man to one of these hail sales and an unamed dealership said that all hail damaged vehicles are not going to be covered by warranty??

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Member of the 18-35 club and proud of it! (For another 5 years...getting old)

New toy has arrived, 1/4 mile in 11.2 sec and only 114hp!

[QUOTE=Kato;444110]You don't get to claim the 30% company tax rate off a car as far as I know...
QUOTE]

Kato, only in terms of the repairs. i.e. if we make a profit of 30k a year that is subject to company tax but if the repairs come to $20k and we only have a profit of $10k then I only have to pay tax on the $10k.

The depreciation does not matter so much as we would claim it regardless.

Brendon

__________________
Losing is worse than death. You have to live with losing....

Full warranty. Cars have never been licensed before. As far as they are concerned they have just sold a car like they would any other but it is cheaper.

Brendon

__________________
Losing is worse than death. You have to live with losing....

if I could only convince my old man to get a toyota i'd be over to gosnells in no time Brendon

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Member of the 18-35 club and proud of it! (For another 5 years...getting old)

New toy has arrived, 1/4 mile in 11.2 sec and only 114hp!