How Does Leasing Work?
Leasing Puts Money Back in Your Wallet!
One of the very first savings you will find with a novated lease, is you will pay no GST on the purchase price of a new car. Additionally because it is a lease there is no need to pay a deposit, more of your money saved!
Next, because your Fully Maintained Novated Lease includes all of your vehicles running costs it means that these running costs are tax and GST free! This includes, car servicing, tyres, registration and insurance.
You will also find paying for your fuel works out nearly half the cost of what you are paying at the bowser without a lease! We will calculate your current vehicles running costs for you to show how quickly you can save thousands of dollars a year.
Education Video on How Leasing Works to Save Tax on Your Salary!
3 Simple Steps to Setup Your Lease
Select Your Vehicle
Select your preferred new or used car & request a free quote. We can also explain the advantages of leasing your current car, either owned outright or under a loan.
We will consult with you to set-up your budget for all of your vehicle running costs, prepare your formal quote & go through your lease savings.
Contacting Your Employer
We outline the benefits to your employer of Novated Leases as a salary packaging option & guide them through the setup up and ATO compliance requirements.
Managing Your Novated Lease
In conjunction with our Leasing partner Allcredit Novated Lease, your vehicles costs will be managed for the whole term of your lease. Adjustments to these costs can be made at any time if your circumstances change and you are doing more of less kilometres annually. Just another example of our ongoing customer service!
You will receive a Motorpass card to pay for all your car related expenses on the go.
You may use your own insurer or take advantage of the fleet insurance on offer.
You will be able to login to your personal lease account to track your budget at anytime.
Your Novated Lease is fully portable should you leave your current employer.
Placing Savings Into Overdrive
How does leasing work to put your savings into top gear?
Allow us to show you precisely how much money you can be saving over the life of a lease. Working on the example calculation where we are comparing Leasing your car against purchasing a car with a personal loan, you would save over the term of the lease $8,527!
You could use that money to top up your Superannuation, pay down debt on your own home or upgrade your next holiday.
Let’s say you are 45 years old and you will work until you are 65. In that time frame keeping your mindset on Leasing as your preferred option, you would have leased 5 new cars.
The savings in that time would range between $60,000- $75,000 @ 3% CPI. Imagine what you could do with that money over the term of your working life!
Discover your approx savings using our Novated Lease Calculator.
Novated Car Leasing Options does not purport to offer legal, financial or taxation advice. Employers and employees should seek independent advice as to the implications of a Novated Lease transaction. The salary packaging amounts and take-home pay calculations set out are estimates only. While due care is exercised by us to ensure the integrity of the estimates it does not make any warranties, express or implied as to its accuracy or completeness. Powered by Paywise. Trademarks and Brands are the property of their respective owners.