Novated Lease Versus Car Loan
We break down the advantages of each form of vehicle finance. It doesn’t matter which way you would prefer to get into your new car, Salary Packaging will make it happen, easily, quickly and for the least cost to you.
What is a Novated Lease
Novated leasing is a cost effective way to get into your next vehicle. In essence the everyday running expenses that you would normally incur are incurred in Pre Tax and a GST free arrangement. What this means to you as an employee is that you get to pay for items that you would normally purchase after tax such as fuel, rego, insurance, tyres, servicing, roadside assistance and finance payments out of income that has not been taxed!
What is a Car Loan
A car loan is a loan that establishes consumer credit that is granted for personal use; usually secured and based on the borrower’s integrity and ability to pay. Repayments only include the financed amount of the vehicle. No runnings costs are included.