A novated car lease is a three-way agreement between a Melbourne employee, their employer, and a financier. This agreement is approved by the ATO and allows employees just like you to be able to finance your new car and all the running costs that go with it, using your pre-tax income.
Most novated car leases can be for a term between 1 to 5 years, depending on the agreement between you, your employer, and the financier. You can choose the length of the term that suits your lifestyle and needs, and each monthly payment goes towards reducing the overall balance of your novated lease. The automatic deductions from your pre-tax salary allow you to not worry about budgeting or remembering to make car payments – which is an added bonus! And, at the end of the lease term, you’ll just need to pay the residual.
With our novated car lease and salary packaging options, you’ll receive substantial tax benefits, when compared to financing the car on your own. So, say goodbye to standard, costly car loans and say hello to your novated lease – the most cost effective and easiest way to purchase your next new car.