Can you give us the numbers? Like what the car cost, what's included, and what it costs you per week (or fortnight)?
I get about $350 a week car allowance and from a very rough look I had a maxxia: If I got a car for $50000, do approx 30000kms a year including Fuel, servicing, tyres, insurance, rego over 5 years. It would cost me $634 per fortnight.
Am I missing something? I cant see any reason I wouldn't do it....
It's kind of hard to provide exact numbers because things are rubbery. Maxxia will often quote based on assumed numbers, such as insurance being $2k per year. I sourced my own insurance at $550 per year so the fortnightly figures drop. Maxxia might estimate that servicing will cost $2k per year but Holden's capped price servicing might only cost you $600 per year so that will take your fortnightly cost down further. The big number that impressed me was a $50k car would actually be $45,500 + $4,500 GST. Being a leased vehicle you don't pay the GST so finance amount would be $45,500.
I started out nominating that I'd drive 15,000 kms per year and was paying around $600 per fortnight, but I've done over 20,000 kms in the first six months so I upped my fortnightly payment to over $800 per fortnight - mostly to cover fuel and more frequent servicing. That money goes into an account held by Maxxia which is used to pay the bills. If the money banks up and isn't being used - like if you're using less fuel or your tyres last longer - Maxxia can send any surplus back to you via your payroll. The main difference is that the money going to Maxxia is tax-free which is used to pay the bills. If you don't use the money, it goes back into your pocket via payroll - which is taxed. So I can either have $100 sitting with Maxxia and get them to buy me $100 worth of fuel - or that money can come back to me via payroll and after being taxed 37% I'll have $63 in my pocket.
So again - providing exact numbers is difficult, it just depends on how much you spend on your car. I buy car washing stuff - wax, mitts, buckets, sponges, etc - and claim it all via Maxxia. I figure doing it this way is effectively getting it 37% off as that's my marginal tax rate. Similarly any fuel purchased is meant to go in the car but if it finds it's way into boats, motorcycles, lawnmowers - that's all 37% cheaper as well.
