Novated car leasing is one of the most effective ways of helping employees lower their taxable income whilst enjoying the opportunity to drive a safer more modern vehicle.
Novated car leasing continues to gain popularity as more and more employees discover the benefits of a financial tool that employers can use to enhance salary packages, and employees use to gain more car for their dollar.
A Novated lease is a three way agreement between you the employee, your employer and a finance company. As an employee, a Novated lease allows you to pay for your lease payments as well as the running costs of the vehicle with pre-tax income in one regular payment.
Your Novated lease payment contains the following:
- Finance repayment
- All service, maintenance and mechanical repairs
- Comprehensive insurance
- Annual registration and CTP (if applicable)
- Fuel card
- 24 hour Roadside Assistance
Benefits to the employee:
- Reduced annual tax bill
- Finance payments and operating costs are paid before tax lowering your taxable income
- Cost savings on the purchase of a vehicle
- No deposit required or up-front costs
- Significant fleet discounts on new vehicles (greater than dealer discounts) due to our buying power
- Considerable savings with no GST on the initial purchase of the vehicle
- Feet discounts on servicing and maintenance through our network of preferred suppliers
- Fuel card from a choice of suppliers with discounted rates
- Flexibility in the choice of vehicle
- Select your own dealership or access Car Leasing Options’ preferred suppliers
- Full choice of colour, trim and accessories
- Choose your own insurance company
- Convenience and customer care
- One regular payment inclusive of all vehicle associated costs
- Peace of mind as we schedule, monitor and track servicing and tyre replacement for your vehicle
- Accident and claims management
- Our friendly staff will help you to monitor your kilometers travelled and expenditure on running costs
- 24 hour/365 day on-call customer support
- Smooth out the costs associated with your vehicle across the length of the lease
- Online account and mobile app providing regular statements, reports and other tools to track your account
It is a simple, easy process for both the employer and employee as we at Car Leasing Options keep the administrative load to a minimum, whilst ensuring that you gain the maximum possible benefit from your Novated lease. If you currently own your own vehicle this can also be converted into a Novated lease, so you can still benefit from the tax savings.
Would you like to pay for the running costs of a car you already own with pre-tax income? We can show you how simple it is.
If your family already own a vehicle and wish to package the running costs from pre-tax income, you could enjoy the same benefits as a Novated lease.
Similar to a Novated lease, an Associate lease is an agreement between you and your employer, except in this scenario instead of a finance company, the vehicle is leased from an associate such as spouse, relative or trust.
A benefit of an Associate lease is that you could lower your taxable income by repaying the lease and operating costs of the vehicle with pre-tax income, whilst your associate will receive monthly lease payments.
The associate must be a direct relative, who is over 18 years of age, have an ABN number and own the vehicle. To gain the greatest value from an associate lease, the associate should be in a lower tax bracket so the lease payments they receive are taxed at a lower rate.
If the vehicle is currently in your name, the transfer of the vehicle to a spouse or domestic partner is exempt from motor vehicle duty or Roadworthy Certificate.
It is a simple, easy process importantly for both the employer and employee as we at Car Leasing Options keep the administrative load to a minimum whilst ensuring that you gain the maximum possible benefits from your Associate lease.
An Operating lease allows employers to lease a vehicle without taking on any of the risks associated with ownership or having any upfront costs.
As an employer, do you provide employees with company vehicles? Car Leasing Options provide both fully maintained and non-maintained Operating leases to suit your company’s requirements, so you can enjoy both the administrative and financial benefits whilst outsourcing the risks associated with ownership.
An Operating lease is a simple, cost effective solution for employers requiring company-provided passenger and light commercial vehicles. Car Leasing Options lease the vehicle or fleet of vehicles with all the associated costs of owning and maintaining a vehicle included in one fixed monthly charge.
The monthly charge of a fully-maintained Operating lease contains the following:
- All service, maintenance and mechanical repairs
- Tyres (conditions apply)
- Registrations and CTP (If applicable)
- Fuel card (optional)
- Comprehensive insurance (optional)
You can still choose the vehicle, decide on the term (duration) and work out how many kilometres your employees will travel per year. With no up-front costs, take delivery of the vehicle, pay the fixed monthly lease rental and at the end of the term hand back the vehicle to Car Leasing Options. As there is no risk associated with an Operating lease there are no residuals or lump sum final payments involved.
We provide competitive pricing and first class fleet management for all your company vehicle needs, making an Operating lease a convenient solution with many benefits.
Benefits to employers may include the following:
- Significant fleet discounts on new vehicles using our buying power and no GST on the initial purchase of the vehicle contribute to competitive monthly lease payments
- Capital often tied up in assets such as vehicles is available to your business to invest in other areas
- Car Leasing Options will carry out fleet administration including accident and claims management, so you can focus on your business
- No unexpected charges as we have developed a budget based on your company’s needs
- All costs are tax-deductible
- Fleet discounts on scheduled servicing and non-scheduled maintenance nationwide through our extensive network