A novated lease is a three-way agreement between an employee, employer and the lease company. It is sometimes referred to as salary packaging a vehicle.
There is a common misconception that the employee must be a high income earner and the vehicle should be new (or near-new) and of high value, travelling high annual km's. Many also wrongly believe that the vehicle must be used for work purposes. In fact, the employee can low or mid-income worker, using the vehicle for entirely personal use, travelling 10,000km per year - in most scenarios you can expect a substantial tax saving.
Lease terms from 1-5 years are available, and all running costs are included. Although the lease is for a fixed term, you can easily transfer your novated lease to a new employer during the term if required.
Information was current at time of publishing and is subject to change. Testimonials appearing on this website are of individual experiences of customers of FleetChoice and are not necessarily representative of all those who will use our products and/or services. FleetChoice makes every effort to ensure all information provided is correct, however it does not warrant the accuracy of that information. The information is general in nature and does not constitute financial or tax advice. Independent financial and/or tax advice should be sought. You should read the relevant Product Disclosure Statement available by calling FleetChoice on 1300 34 33 88 and consider whether the insurance product is right for you before making any decision. Fleet Choice Pty Ltd is an Authorised Representative (AR No. 378491) of the insurance issuers ERIC Insurance Limited (ABN 18 009 129 793) (AFSL 238279) and Allianz Australia Insurance Limited (ABN 15 000 122 850) (AFSL 23408). All applications for credit are subject to credit approval criteria. Terms and conditions, fees and charges apply.
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