A novated lease is a three-way agreement between an employer, employee and a financier whereby an employer leases a car on behalf of the employee.
A car is leased in your name and running costs such as fuel, insurance and maintenance are all included in a single lease repayment, paid for using a combination of your pre and post-tax salary. This means you could reduce your taxable income and pay less tax.
A car is leased in your name, via your employer, and your lease and running costs are covered using funds from a combination of your before and after tax salary. The agreement includes the car finance.
We’ll help you set a budget for the ongoing running costs based on the type of vehicle you lease and how far you expect to drive it. You can adjust your budget at any time.
At the end of your lease period, normally 4-5 years, you have the option to lease a new car, re-lease your existing car or purchase the car outright.
We can help you find the best price on your new car with our nationwide fleet discounts and preferred dealer network. Plus, with a novated lease you don’t pay GST on the purchase price of your new car, which could save you thousands up front.
When you take out a lease with Maxxia we can not only source your new car, we can manage the paperwork, arrange the finance and insurance, negotiate with dealers and even have the car delivered to you at home or work.
With a novated lease, all your finance and running costs are budgeted for, with funds set aside from your pre and post-tax salary each pay period. And, if you don’t spend your budget, you can simply request to have the money returned to you.
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