What is a Novated Lease?

Put simply, in a novated lease, your employer settles your repayments through salary sacrificing. This means the payments will be made on your behalf using your pre-tax income. The same could also be applied for all associated costs like car maintenance, fuel, insurance & registration. To implement this, you enter into a three-way agreement between your employer & the lender.

Why choose Novated Lease?

DRIVE THE CAR YOU WANT

In a novated lease, you can choose the car you want, whatever make & model it is. On that, we can also help you find the right one if you don’t have a car in mind yet.

MORE TAKE-HOME PAY

Since your employer takes your repayments from your pre-tax salary, this reduces your taxable income. So, you get to take home more of your pay.

NO SHOCK COSTS

Before a novated lease takes into effect, you are informed of the exact interest rate. The same goes for other applicable fees, if any. So, you enter into the lease fully aware of all costs Loan Calculator.

SIGNIFICANT TAX BENEFITS

When it comes to a novated lease and GST, you pay for the car exclusive of GST. Then depending on your employer’s policy, you can also save another 10% on your car’s running costs & repayments. Since a novated lease involves your employer, your car can be treated as company-owned for tax purposes. So, they can claim back the GST on your salary-packaged vehicle & have you pay the GST-exclusive amount only.

VARIOUS END-OF-LEASE OPTIONS

At the end of the lease, you can either keep the car or refinance it depending on certain conditions. You can also upgrade to a new car by trading your current one & paying any remaining amount owed. The same applies if you would like to sell it.

NOTE: Loan terms may differ based on the assessment of a person’s financial profile.

Why Finley Finance?

Here at Finley Finance, we work our best to make the process as smooth & hassle-free as possible.

After getting all the necessary information from you, your dedicated Finance Specialist will get to work. First, we’ll compare the rates & terms of all of our partner lenders (bank & non-bank). Once you’ve selected the best one from the options we’ve provided, we’ll help you with the application. Then after we’ve secured all the documentation needed, we’ll apply on your behalf. We’ll keep you posted throughout the entire process.

Got bad credit? No worries!

We believe in second chances. If you’ve been turned down elsewhere due to bad credit, worry not. Finley Finance can also help.

Wish to get a quote? Sure!

Getting a quote is easy. Just click the button below. Alternatively, you can also call us at 1300 945 332 .