What is a Novated Lease and How Does It Benefit You?

All these years you’ve been waiting for the opportunity to get your car. However, it seems like all the financing options you tried exploring were either too pricey or offered highly inconvenient payment terms. But do not lose hope since there still is one option you probably haven’t considered, and it is called a novated lease.

A novated lease is a unique car financing option that an employee like you should give serious consideration. Unlike all other options out there, novated lease SA – Vehicle Solutions allow you to bundle your car payments and running costs in one deduction via your pre-tax salary. Yes, you heard it right. Instead of finding ways every month to fill your bank account with enough funds for the payments of your car loan, a novated lease will directly get it from your salary right before you pay taxes.

The reason why a novated lease will benefit you is that it is the only car financing options available that enable you to buy a car and obtain significant tax savings in the process. In it, you buy the car you want, your employer will deduct the lease as well as running costs payments from your salary, and then you get to drive and own the vehicle. What it means is that you get the benefit of making tax savings while at the same time enjoying the convenience of having your car costs in one payment. For those who choose the usual car financing process, the different payments they must make could quickly overwhelm them.

You can look for a company that will provide the assistance you need to guarantee that you maximise your venture in Novated Lease SA – Vehicle Solutions, including the following:

1 – One payment covering all the costs

There are experts out there in novated leasing that can provide you with the help you need in setting up a budget upfront in covering the payment and running experts for the entirety of the lease.

2 – Easy to understand financing

One of the most practical advantages of a novated lease is the fact that your pre-tax salary will cover the finance payments, which is something that is worthy of considering since it does not only make payments more convenient, but it also can help you save thousands in tax at the end of the lease.

3 – Save on fuel costs

Many companies offering a novated lease option to employees like you will give an added incentive in the form of a fuel card. It means you no longer must worry about not having cash or a credit on hand to cover fuel costs.

4 – Maintenance

Finally, you can select a novated lease offer that features fleet discounts on servicing, maintenance, and even tyres for you to stop worrying about you should get the money to cover for those costs.