Do Novated Leases save money?
Yes they do, a lot of money too. From the moment you decide on your car you start saving. You won’t pay GST on the car (excluding private sale and sale and leaseback), so immediately you are saving up to $5,214. You don’t pay GST on your finance and running costs either which will be a further 10% saving.
We will also get you fantastic savings on the price of a new car by giving you access to corporate fleet discounts, again saving you multiple thousands of dollars.
By recovering money from your pre-tax salary, you won’t be paying as much income tax.
If you sell the car for more than the residual value, you get to keep that profit tax-free