Two cars in the family? - Case Study

Most families have more than one car, and many Autopia clients choose to package not one but two cars. Here we compare paying for two cars using personal finance, with the alternative of packaging both.

In order to make the comparison, we’ll assume the following salary and vehicle details.

The next step is to determine the running costs of the vehicles. This is part of the first step in our five-step lifecycle model.

The total cost of running the Audi for a year is $25,744, and the Honda - $12,651. The costs don’t change, but how you cover them makes a big difference.

As you can see, by sacrificing part of your salary you reduce your taxable income, and your income tax.

Although your take home pay has reduced, you’ve already paid for both vehicles, so you’re actually now better off to the tune of $8,356 a year.

Over the term of both leases, that’s a massive saving of $25,068.

In fact, with Autopia's help, you can package both cars for less than the cost of running just the Audi using personal finance.

Summary

All of the above costs include GST.