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Offline allanuber


  • Joined: Aug 2007

  • Location: Sydney
  • Name: Al
Hmmm. I've asked our guys about that - specifically using super to buy 'investment' cars. They say no go - do you have better advisors?




Split from:
http://aussieexotics.com/forum/lamborghini-for-sale/right-this-one-has-got-me-stuffed-miura-svj-t6196.0.html




C'mon, do it!



Offline mhh

  • Chief Test Pilot

  • Joined: Feb 2006

  • Location: Adelaide
Hmmm. I've asked our guys about that - specifically using super to buy 'investment' cars. They say no go - do you have better advisors?

Nah, just dreaming. :)



Offline allanuber


  • Joined: Aug 2007

  • Location: Sydney
  • Name: Al
Nah, just dreaming. :)
Damn tempter. I reckon if we could get it off the ground it would be a fund of choice for a lot of people jaded with other options and congizant of the right cars to invest in.
C'mon, do it!



Offline ACP

  • Lives in a Metro Tangerine

  • Joined: Jun 2008

  • Drives: McLaren
  • Location: Sydney
Hmmm. I've asked our guys about that - specifically using super to buy 'investment' cars. They say no go - do you have better advisors?

You can buy them, but cannot use them. They must be stored and you cannot benefit from them before retirement. Same with art work. :thumbsup: Apparently.



Offline allanuber


  • Joined: Aug 2007

  • Location: Sydney
  • Name: Al

Hey AshGodMod - can you break the super fund thread off to it's own. Interesting chat detracting from another interesting thread. Gracias.
C'mon, do it!



Offline Ferrari Fissatore

  • Soap Dodger

  • Joined: Jan 2007

  • Drives: its obsession
  • Location: under its skin
You can buy them, but cannot use them. They must be stored and you cannot benefit from them before retirement.

define "use" and "store"

proper storage DEMANDS the cars get exercised in order to preserve condition..... why would anyone insist the investment is devalued by storing it badly, ie : not driving storing it properly???



Offline ACP

  • Lives in a Metro Tangerine

  • Joined: Jun 2008

  • Drives: McLaren
  • Location: Sydney
define "use" and "store"

proper storage DEMANDS the cars get exercised in order to preserve condition..... why would anyone insist the investment is devalued by storing it badly, ie : not driving storing it properly???

Buggered if I know, but I know you cannot 'benefit' from it before retirement. i.e. if you bought the Mona Lisa as part of your super you cannot display in your home until you retire (that's the example I was given).

For a car, I imagine you'd have to keep it at arms length and have someone store and maintain it for you, if it truly was an investment for retirement.

And this why you can't use your super to buy the home you live in, but you can buy one as an investment property.



Offline Ferrari Fissatore

  • Soap Dodger

  • Joined: Jan 2007

  • Drives: its obsession
  • Location: under its skin



Offline allanuber


  • Joined: Aug 2007

  • Location: Sydney
  • Name: Al
Buggered if I know, but I know you cannot 'benefit' from it before retirement. i.e. if you bought the Mona Lisa as part of your super you cannot display in your home until you retire (that's the example I was given).

For a car, I imagine you'd have to keep it at arms length and have someone store and maintain it for you, if it truly was an investment for retirement.

And this why you can't use your super to buy the home you live in, but you can buy one as an investment property.

I don't think this is enough. It's the same scenario I painted for our advisors and they still gave the thumbs down specifically to car purchases - even if they are 'displayed' in a museum to produce additional income beyond appreciation. I'd thought I'd have a way to buy an F40 which would be 'saved' for me until I could enjoy it - but no go. I think a part is the super fund size - it may be possible to do this if the car/s represented a tiny fraction of the overall fund - even then it appears line-ball to show they are an investment strategy.
C'mon, do it!



Offline Ferrarista


  • Joined: Feb 2010

  • Location:
  • Drives:
I don't think this is enough. It's the same scenario I painted for our advisors and they still gave the thumbs down specifically to car purchases - even if they are 'displayed' in a museum to produce additional income beyond appreciation. I'd thought I'd have a way to buy an F40 which would be 'saved' for me until I could enjoy it - but no go. I think a part is the super fund size - it may be possible to do this if the car/s represented a tiny fraction of the overall fund - even then it appears line-ball to show they are an investment strategy.
If you think its a good idea, just go ahead with it. I am in!
There is a guy on this forum with a dickie sign off....cant remember his name, but he always ends in,
C'MON, DO IT!!
Passion For The Prancing Horse



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