Does it have to be a new car? No, but it has to be less than 12 years old at the end of the lease. Therefore if you want to lease a car that is eight years old, the maximum lease would be four years. Leasing new cars is a safer and more preferred option. As a major part of the cost of the lease is actually the running costs, there is often very little difference in the reduction of your take home salary between new and secondhand. Being a second-hand vehicle you could be purchasing someone else’s problems, for example, the tyres may not be in premium condition when you purchase second-hand and will almost certainly need replacing for more than the lease budget allows. By purchasing a new vehicle you will receive a new car warranty and a national fleet discount on the purchase price which we pass onto you. What happens if I don’t meet my Kilometres? There is no longer a requirement to Read More
Do you want to get a great deal on your next car, pay less tax and bundle your running costs into one regular repayment? Novated leasing with Fleet Network is for you! It’s the smartest and most cost-effective of purchasing your next car. Watch this 90sec video to see how it works. Speak to the salary packaging and novated leasing experts at Fleet Network today. We have over 20 years experience with government and corporate clients Australia-wide and our customer service is second-to-none. Call us on 1300 738 601 to get an obligation-free quote today.
It is hard to imagine living without the freedom and convenience that comes with the ownership of a car. For many of us it’s virtually a necessity but owning a car is not always free from hassles. From arranging a loan to paying for running costs and maintenance, cars can become a costly business. But fortunately there are other alternatives to traditional forms of financing and ownership, and among them novated lease has become increasingly popular over recent years, thanks largely to the tax benefits associated with this form of lease. A novated lease combines many features of more traditional forms of car finance to deliver some attractive benefits for both employers and employees. Essentially, it is a three-way agreement between your employer, yourself and the financier where the employee leases the car and the company takes on the employee’s obligation of paying the monthly lease rental from the employee’s pre-tax salary. Because the cost of the vehicle ownership is packaged into the employee’s salary, there are considerable tax savings involved in novated leases. It is Read More
For both government and private industry employees, a novated lease is a great tax-saving option when it comes to purchasing a new or late-model used car. Whether or not your employer already offers a novated lease scheme, it’s easy to take advantage of the many benefits that salary sacrificing provides. How to arrange a novated lease Though an increasing number of employers offer novated lease schemes, many, particularly in the private sector, are still not set up to do so. Happily, it’s possible for private sector employees to arrange a novated lease themselves. Here’s what to do: first, double-check with you employer’s payroll department that they don’t offer such as scheme, and if they don’t, let them know that you like to establish a novated lease yourself. Second, decide on the car you would like to purchase. As long as the car is new or not more than three years old, it should be eligible for a novated lease (this restriction is designed to protect to you against excessive depreciation on your Read More
Novated leases have become increasingly popular over the last few years, offering advantages to both employers and employees. Fleet Network explains how novated leases work and the benefits to both employees and their employers. What is a Novated Lease? A novated lease is a three-way agreement for a new car between you, your employer and a finance provider/leasing company such as Fleet Network. Your employer will pay the lease payments, registration, fuel, insurance and maintenance costs of the vehicle directly from your pre-tax salary. This will result in tax savings for you, as your own taxable income will be lower. Employee Benefits of a Novated Lease Novated leases provide: A significant tax saving All the car running costs are included in your regular repayments, makes budgeting easy Freedom to select the car you want – used or new You don’t pay GST on the purchase price or the running costs There’s no limit on the KMs you can drive, all you have to do is estimate how many KMs Read More