how to finance a new car

[tobe]

you gotta enjoy urself along the journey or what is the point, if you can't buy the missus a standard car for $30k and have 6 ip's it's not right

thats what I reckon!

 

[tobe]

I dont understand Why you would have 6 months salary in anything other than your LOC? Is there another angle I've been missing?

What about leasing a car through your employer on a Novated lease scheme?

It is sitting in the non deductable line of credit. I didnt want to go too deeply into my personal finances, I just wanted the collective opinion on financing a car through buying a corresponding investment.

 

[tobe]

Use the 30k to convert the garage on one of your properties into a granny flat and rent it for $200 per week. That should cover your car payments and running costs too

None of my properties have garages, or even car ports. 3 are units, and the other 3 are older homes in a regional town. The estate agents seem to think that having a garage or carport wont increase the rent, so I havent bothered.

 

[tobe]

how about using NRAS ?

Borrowing capacity shot. I wont be doing any further borrow for quite some time, without selling some and rejiggin the finances.

 

[Aaron Sice]

Use the 30k to convert the garage on one of your properties into a granny flat and rent it for $200 per week. That should cover your car payments and running costs too

that'd be like buying with cash, effectively.

you're not working for the extra income, so your time is yours.