What is novated leasing and how does it work?
Put simply, a novated lease is a smart way to get into a new or used car. A three-way salary packaging agreement between you, your employer and a financier, it’s convenient and hassle-free – and great for budgeting. All your car repayments and regular running costs – that’s fuel, insurance, rego, maintenance and the like – can be bundled into one regular payroll deduction.
It could also be tax-effective. Because your repayments are made partly from your before-tax salary, you could lower your taxable income and pay less income tax. These benefits can apply regardless of your employment status or income level, or whether you drive a little or a lot.
You have the option of a fully-maintained or self-managed lease, and you could even enjoy the benefits of a novated lease on your existing car (sale and leaseback).
Maxxia has been one of Australia’s leading novated leasing providers for almost 30 years now, and we’ve gained plenty of mates along the way. What that means is access to some of the best deals and manufacturers across the country.