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  1. #21
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    mortgage interest rates are lower but it's over 25-30 years, I would never ever recommend adding car debt to a mortgage and neither would my mortgage broker unless you are desperate. Could you go through Toyota or Nissan who offer 1% interest rates (or very low). That would be the way i would go. Look on red book for the trade in value also. You will never get close to the prices of cars you see on car sales in terms of trade in pricing. You wouldn't cover the loan with your trade in value.

  2. #22
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    Quote Originally Posted by monnie24 View Post
    That's what I thought our mortgage repayments are half of car it's us renting interstate that is killing us right now I've considered dropping phi but DS needs it if we run out funding
    Wait, so when you say mortgage, do you mean mortgage on an investment property? If yes, it would complicate things somewhat.

  3. #23
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    Quote Originally Posted by SSecret Squirrel View Post
    Wait, so when you say mortgage, do you mean mortgage on an investment property? If yes, it would complicate things somewhat.
    I'm pretty sure you can't do that, as it will effect the interest paid which therefore effects what you can negative gear. You can't claim higher interest payments of a car and use that as an expense with regard to your net income or net loss for the investment.
    @turquoisecoast or @witherwings may be able to advise on this.

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  5. #24
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    Steer clear of Ford Fiestas and Ecosport auto transmission cars they are lemons. There's a class suit currently regarding them. I had a 2014 model that was a nightmare to own I ended up trading it in earlier this year just before I heard about and joined the class suit.
    I had to opt for trade in due to the cars issues I couldn't have sold it privately knowing how bad it was.
    I just refinanced the home loan as interest rates are a lot less than a personal loan.

  6. #25
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    Stay away from the Golf. Expensive on parts and service. Very over-rated IMO.

    P.S. I worked in the Motor industry for 10 + years.

    Go the Hyundai or Mazda as PP's have suggested.


 

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