What's a Novated Lease?

What is a Novated Lease?

 

A Novated Lease is a way to have the car of your choice easier and tax/cost effectively by paying for it from your salary package. Instead of taking your salary only in cash, you use some of it to pay for a fully maintained car. 

Your salary deductions pay for:

  • The car finance costs
  • Fuel
  • Service & Maintenance
  • Replacement Tyres
  • Car insurance
  • Registration renewal
  • Roadside assistance
  • Plus much more like car washes, etc.

 

How does it work?

 

A Novated Lease is a 3 way arrangement between you, your employer and the financier of the car. You enter into a Lease agreement with the financier then a second document called a Deed of Novation is signed by you, the financier and your employer.

The arrangement is that as long as you stay employed with your employer, they will deduct the required amount from your salary and send it to us so that we can pay for your Lease and car running costs.

 

Will it benefit me?

 

Most people would benefit by salary packaging a Novated Lease. There are benefits on:

  • Car purchase price savings
  • Car running costs savings
  • Tax savings by using your salary package to pay for it
  • Protecting the car’s future value by having it maintained regularly.

Contact us today and we’ll give you a customised, no obligation quote on the car you want to drive.