Looking at extending my current 12m lease in a few months given there’s a good chance I can do 2 years of extension and then decide whether to do another or not.
Am I correct in assuming my residual is a percentage based on original purchase price? Eg year 1 is currently 66% of purchase and if I extend to say 2 years it’ll be 47% of original purchase price and not 56% of 1st residual?
I’m stuck with ‘smart’ for the foreseeable future - can anyone suggest why I should do a 2y extension vs 2 x 1y? This would be prior to deciding whether go renewing a longer option to lock in the FBT exemption?
If the cost difference is minimal my preference is 1y extensions due to the impact on borrowing capacity in the event interest rates lower in the future.
My car was purchased new, well under both LCT threshold and $75000. Full EV.
Advice most appreciated, cheers.