A novated car lease is a three-way lease agreement between a WA employee, employer, and a financier. This ATO-approved agreement allows Perth & WA employees like you, to finance your new car and all the running costs that go with it, using your pre-tax income.
A novated car lease term can be anywhere between 1 and 5 years. You can choose the length of the term and each monthly payment goes towards reducing the balance of your novated lease. Automatic deductions from your pre-tax salary means you won’t need to worry about budgeting or remembering to make car 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.