Starting a new job in two weeks and need a car for work. We have quite a bit of available funds in our redraw and Instead of getting a lease I thought I would just use the redraw and pay a lower rate.
What car expenses can I then claim through tax and do I need to complete a log book for travel?
I like the way you are thinking. Buy the cheapest, suitable reliable car that you can. (Something from a demo to 2-3 years old that you will drive for 6-8 years) Negotiate an awesome “cash” price and keep all of your receipts as well as keeping a thorough compliant log book.
You’ll save a fortune compared to getting a new car on a lease
Good luck in the new role