A novated lease is a three-way lease agreement between a NT Government employee, employer and a financier. This ATO-approved agreement allows NT Government employees like you, to finance your new car and all the running costs that go with it, using your pre-tax income.
How long is the lease for? The term can be anywhere between 1 and 5 years. Each monthly payment goes towards reducing the balance of your lease. Automatic deductions from your pre-tax salary, mean you won’t need to worry about budgeting or remembering to make payments – bonus! At the end of the term there is a set residual to pay.
You’ll receive significant tax benefits with a novated lease and salary packaging, compared to financing the car on your own.
So, it’s time to say goodbye to regular car loans and say hello to a novated lease – the simplest and most cost-effective way to purchase your new car as an NTG Employee.