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Help - re: car loan


anitalund

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Hi - I hope someone can help. My husband is out in Sydney and we are moving out in 5 weeks to join him for 4 years. He is looking at buying a car. What I want to know is, should we get a loan here or get one there? If I get one here will it be expensive to transfer $18000 to Australia, so would it be best to borrow the money over there? Hope someone can help - I've got a headache! Thanks!

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Hi

 

I haven't looked into this in detail yet myself but I was of the understanding that some employers offer car loans through the payroll so it is dealt with as salary sacrifice (in a similar way Childcare Vouchers or Cycle schemes work in the UK-where you save tax and NI)

 

Might be worth checking to see if this is a benefit your husbands workplace offer as it will save him the PAYG contributions on it!

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