Truck Purchase
Purchase date Jan 9/2024
Total Sale price 109,619.00
Freight 2,200.00
Air tax 100.00
Extended warranty 9,041.00
Recycling fee 21.25
Admin fee 699.00
Lien Search 40.00
Service discount -2,300.00 repair personal truck
Bean Discount -4,000.00
Sub-total 115,420.25
Trade-in allowance 71,750.00 personal truck
Net difference 43,670.25
HST on sub-total 15,004.63
Licence Fee 64.00
Fuel 100.00
Payout lien on trade-in 95,615.00
HST payable on trade-in 9,327.50
Rebate - Business choice warranty 7,661.62
Sub-total 137,464.76
Down payment 5,000.00
Lien registration fee 124.11
Amount financed 132,588.87
Cost of borrowing 5.99% 29,884.35 financed over 84 months
Total cost 162,473.22
Loan payments (bi-weekly) 937.20 1st - Jan 25/24
893.68 Feb 8th/24 until Jan 20/31
What is the maximum that can be capitalized -assuming class 10.1?
Do the bi-weekly loan payments get coded against the loan disregarding the HST?
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