Huge tax savings and ultimate convenience
What is a Novated Lease?
A Novated Lease is a three-way arrangement between an employer, an employee and a finance company. The finance company buys the car on your behalf and your employer pays them a monthly amount from your pre-tax salary.
At the end of the lease period, you can either:
- Trade it in when you lease your new car.
- Extend lease with a lower repayment
- Buy the car for its residual value
- Sell the car and keep any tax-free profit
What are the benefits of a ProNovate Novated Lease?
- It’s a tax effective way to lease a vehicle via salary packaging. You pay with pre-tax dollars, which could save you thousands on your taxable income.
- A simple and convenient monthly payment covers all your costs including finance repayments, fuel, insurance, registration and maintenance.
- A fixed rate for the term of your lease.
- New car discounts thanks to our buying power and established supply networks.
- Preservation of your cash flow, as it isn’t tied up in a deposit or an outright purchase.
- You can upgrade to a new car at any time.
- You can take out redundancy insurance for extra peace of mind.
- There are no restrictions on how much you earn or how many kilometres you travel.
- Your spouse or children can drive the car too.