A novated vehicle lease is a three-way lease agreement between a Tasmanian employee, an employer, and a financier. This Australian Taxation Office-approved agreement allows Hobart and Tasmanian employees, such as yourself, to finance your new or used car (as well as all the running costs that go with it), using your pre-tax income.
A novated car lease term with Fleet Network can be anywhere between 1 and 5 years. But the real benefits of a novated car lease in Hobart with Fleet Network is that you can choose the length of the term to suit your personal needs, plus each monthly payment goes towards reducing the balance of your novated lease. The deductions which automatically come from your pre-tax salary mean you won’t need to stress about putting money aside for a car loan or remembering to make car payments! Once the term has ended, there is a set residual to pay.
In comparison to financing the vehicle on your own, you’ll receive significant tax benefits with a novated lease and salary packaging. This means it’s time to say goodbye to paying cash or regular car loans with high interest rates and say hello to a novated lease – the most cost-effective and the easiest way to purchase your new or used car.