Are Novated Leases Only For Brand New Cars?

Novated leasing is a cost-effective and tax-efficient way for employees to buy or lease a car through their employers or directly with financiers. Through novated leasing, lessees can save money when purchasing new or used vehicles.

Vehicles available for novated leasing

Novated leasing is not only available for new cars, but due to the rapid depreciation in value of some vehicles, these arrangements are not usually offered for cars more than three years old. Employees who choose to take advantage of novated leases can purchase vehicles of their choice, or leasing providers can provide assistance sourcing a suitable car.

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There may be some restrictions on the type of vehicle that can be purchased, with exclusions for vehicles that do not have Australian Compliance Plates, weighing in excess of one tonne carrying capacity or for certain classes of vehicles, such as motorcycles. Novated lease providers usually work with dealerships, but lessees have the option of choosing their own dealer if they prefer.

Novated lease enquiries

If you have any questions about what’s involved in a novated lease or how to salary sacrifice in your organisation, get in touch with novated leasing providers. They can explain the details of how these arrangements work, as well as clarify the benefits.

Novated leasing in Geraldton

Fleet Network is a salary sacrifice provider that offers novated lease vehicles in Broome, Perth and other areas. To find out more about purchasing or leasing a car with a novated lease, phone 08 6555 3854.