Has anyone leased from Harvey Norman

na8an on 17/06/2014 - 02:37
Last edited 17/06/2014 - 10:52

Has anyone of you guys have leased a Laptop or any elctrical items from Harvey Norman, the reason being on my visit to store sales guy asked me to take it.

It was something like this:

0% interest free (apparently ending june 30) for 50 months
490$ upfront for the goods
remaining amount is divided into 10 equal payments
Example : rMBP $1849 for 8gb/256/13"

1849-490 = 1359
1359/10 months = 135.9 $ every month for lease

but on the contrary, sales guys was suggesting that we can claim this during tax returns ( can anyone confirm this pls!)
By the end of 10 months, he said something about getting last two months wavered if we renew contract or buy at HN also if we want to purchase the same item we can pay 1 month of extra lease and be owned.

And also get $200 Giftcard if I would have bought it today at HN.

http://www.harveynorman.com.au/customer-service/finance-opti…

Care to comment?!

This post is related to this https://www.ozbargain.com.au/node/148807

P.S. i was in a hurry so couldn't get a lot of info

Financial

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Harvey Norman
Harvey Norman

Comments

  • [Deactivated] on 17/06/2014 - 07:51
    +2

    Make sure you look into the fees. After an admin fee, monthly fee, credit card payment fee,etc They can add up very quickly on deals like this.

  • Blockey on 17/06/2014 - 08:42
    +1

    Check the admin fees, if you had to pay $10 on top of each $135.90 payment in admin fees, that will give you an effective interest rate of 5.4% (using my very rough math, feel free to correct me). Tax shouldn't be a consideration when purchasing something like this but:

    Using your figures, a purchase date of 1 July and you use it 50% for work use:

    Lease
    In the first year you will get a deduction for $490 + 10 months x $135.90 = $1,849 x 50% = $924.50

    Outright purchase
    In the first year you will get a deduction for $1,849 x 66.6% (ATO depn rate) = $1,231.43 x 50% = $615.71
    Etc

  • na8an on 17/06/2014 - 10:48

    They have not mentioned any of admin costs, I will enquire about it.

    How can we claim tax for outright purchases being a student? I didn't knew we can actually claim stuff.

  • lakers1222 on 17/06/2014 - 13:28
    +3

    After discussing leasing a laptop from Harvery Norman without any interest, Harvery Norman wacked me with a $10 admin fee per transaction. Really not worth it.

    • na8an on 17/06/2014 - 16:37

      Seems you have experience in this case, care to elaborate lakers1222?

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