Why Vezel Is Bad?

[VVTi]

if not for those leasing companies that lend every boy and girl any amount of money they won't, we wouldn't see this big fleets of vezels, premios Allions and axios IMO

Leasing companies provide a valuable service... population control...

[Ruslan]

Leasing companies provide a valuable service... population control...

Yep, Person self immolated yesterday died..

http://www.adaderana.lk/news/29994/man-who-immolated-self-at-leasing-company-dies-

[VVTi]

Yep, Person self immolated yesterday died..

http://www.adaderana.lk/news/29994/man-who-immolated-self-at-leasing-company-dies-

His problems are over. Now the guarantors will have to self immolate...

[overTuned]

Leasing companies provide a valuable service... population control...

Also they hardly helping business people to reduce there taxes..Some of my friends in business track won't pay off cash at once for a vehicle though they've billions of money.

[overTuned]

His problems are over. Now the guarantors will have to self immolate...

In this kind of situation, Do the guarantors pay the rest? They already ceased the vehicle too.

[sasika]

Business men tend to obtain leasing to undercut income taxes mainly. But some idiots sacrifice their job and salary for a car.. Pathetic people have to die that way Cz of their own mistakes like that

Edited March 3, 2015 by sasika

[amilawuk]

In this kind of situation, Do the guarantors pay the rest? They already ceased the vehicle too.

Leasing Company will sell the ceased vehicle. If the amount received from the sale of vehicle is not sufficient to cover the amount due from the lessee then guarntors will be asked to pay.

[Crosswind]

Generally the leasing company would sell the vehicle, recover the dues and call it a day. They would have recovered the principal amount anyway and they won't be too worried about the future interests.

Unless the selling price of the vehicle is not sufficient to cover even the outstanding principal. That's when it goes to courts and wastes everyone's time and money.

I recall an incident where a person imported an accident-damaged and touched-up car. Got a valuation for 4.5 mill and did a 3.8mill lease on it. Never paid a single instalment so the finance company had to seize the car. The car was eventually sold for only 1.7 mill after 1 year of going on tender. So they took the case to courts to recover the rest. As I hear, the guy is now paying about 5000 bucks a month for the rest of his life. im sure the finance company guy would have considered self-immolation in this case.

[VVTi]

Yes. Siezing the vehicle will not stop the recovery process. Remember, its the cash that counts. Not the vehicle.

[The Don]

Business men tend to obtain leasing to undercut income taxes mainly. But some idiots sacrifice their job and salary for a car.. Pathetic people have to die that way Cz of their own mistakes like that

I would like to understand how taking a lease or loan makes sense from an income tax perspective?

Does SL tax law allow you to deduct your loan payments from your income before they calculate income tax?

[Crosswind]

I would like to understand how taking a lease or loan makes sense from an income tax perspective?

Does SL tax law allow you to deduct your loan payments from your income before they calculate income tax?

if you are running a business or if you are a business-person then yes.

But it is not a deductible expense for PAYE.

[The Don]

if you are running a business or if you are a business-person then yes.

But it is not a deductible expense for PAYE.

Ah so these guys put it in as an expense that reduces tax liability.

Some countries have closed this loop hole with "benefit of kind" type taxes, so if you receive a personal benefit from an item purchased for the business, you have to pay tax on that benefit.

[Asela Gunatilake]

haters gonna hate....

watch this GP5 do 0-60 in about 8 seconds.

[iRage]

>>watch this GP5 do 0-60 in about 8 >>seconds.

Actually you are a bit off. It foes it abit iver 7.6 sec9nds

[The Don]

Also the 0-60 meassurements you hear of is 0-60 miles not kilometers.

If that is the case 7.6 isn't really anything to sing and dance about.

[sasika]

Also the 0-60 meassurements you hear of is 0-60 miles not kilometers.

If that is the case 7.6 isn't really anything to sing and dance about.

In the video it's 0-100km/h in 7.8 something seconds

[sasika]

if you are running a business or if you are a business-person then yes.

But it is not a deductible expense for PAYE.

to Add to your comment,

Specially when people buy vehicles and register them under their business and not under their names. It's for business use, so it's a business expense. So the instalment can be reduced from the income as an expense. But they dig deep now, searching if that is the real case.

[Crosswind]

haters gonna hate....

https://www.youtube.com/watch?v=pPryI2SscrY'>https://www.youtube.com/watch?v=pPryI2SscrY

watch this GP5 do 0-60 in about 8 seconds.

There's a nice sinhala saying for this... its called godayanta magic

[Asela Gunatilake]

Also the 0-60 meassurements you hear of is 0-60 miles not kilometers.

If that is the case 7.6 isn't really anything to sing and dance about.

I was meaning 0-60 mph... and it is close to 8 seconds. Which is pretty allright for Sri Lankan standards.. and par with most base European Cars that we call fast..

520d - 7.6s

c200 petrol - 7.5s

Mini Cooper - 7.9s

VW Golf 1.4 TSI - 8.4s

[Supra_Natural]

I was meaning 0-60 mph... and it is close to 8 seconds. Which is pretty allright for Sri Lankan standards.. and par with most base European Cars that we call fast..

520d - 7.6s

c200 petrol - 7.5s

Mini Cooper - 7.9s

VW Golf 1.4 TSI - 8.4s

So how does a fit Hybrid's 0-100KM/h time apply to this discussion, which is about the Vesi Vezel being an overrated & overpriced toy bought by the singularly gullible?

[Hoonigan]

Déjà vu. It's turning into one of those "hybrids are da bomb" threads that we have a few too many of.

[Asela Gunatilake]

So how does a fit Hybrid's 0-100KM/h time apply to this discussion, which is about the Vesi Vezel being an overrated & overpriced toy bought by the singularly gullible?

They are both based on the same platform and engine. Yes it is a bit worse than the Fit due to the extra weight, but can it be that bad? Yes it also not that fuel efficient compared to a smaller car, but I would argue it has good economy in it's class.

Don't forget it is a Honda so it is well made and has good handling.

Only problem i see is the people buying them,, People with gold watches, gold chains and gold badges.....

[Crosswind]

So ur not someone with a gold badge up your ...?

[Asela Gunatilake]

So ur not someone with a gold badge up your ...?

Well again,, haters gonna hate,, slander all you want.

The world is changing my friend, there is a saying a sinhala which applies for you,, it is called "hanamitikaraya"

Edited March 4, 2015 by Asela Gunatilake

[The Don]

They are both based on the same platform and engine. Yes it is a bit worse than the Fit due to the extra weight, but can it be that bad? Yes it also not that fuel efficient compared to a smaller car, but I would argue it has good economy in it's class.

Don't forget it is a Honda so it is well made and has good handling.

Only problem i see is the people buying them,, People with gold watches, gold chains and gold badges.....

I think you also have missed the point.

Nobody said that the Vezel was a bad car.

We are just saying its an ok car, does what its supposed to do and THATS IT. Its not some revolutionary automobile to be drooled and and worshiped on an hourly basis. It has ok fuel economy for a car of its size, ok interior, ok drive though a bit breathless when pushed, had a lot of software issues early on, but most seem to be sorted now.

And soon our market will find the next Vezel and everybody will move on.

And more to the point, there is a market for it. Thats why it sells. But there is no point trying to justify your choice to others.

We pick vehicles that cater to our own tastes and priorities. If I had the money to buy a Vezel I'll buy something else but thats just me. I have no issue with the guy next to me buying a Vezel or whatever he/she wants because its their money their choice.