What is Novated Leasing?
Available on new, used, and existing cars or selected utes, novated leasing is a three-way salary packaging agreement between you, your employer and a finance company that allows you to bundle not only your lease payments, but all your car’s running costs – including petrol, insurance, rego and servicing – into one convenient regular payment.
A novated lease could benefit almost anyone who needs a car. You do not have to be a big earner or drive lots of kilometres to benefit. Whether you source a new or used car through our vast buyer network or opt to package your current car through a PAR Novated Lease, you could benefit from the convenience, potential tax savings and peace of mind of that your account is managed by one of Australia’s leading independent leasing providers.
So how does a novated lease work?
Basically, a new, used or existing car is leased in your name, via your employer, and instead of paying with the money you have left over after tax, your lease is covered using funds from a combination of your pre and post-tax salary. While fringe benefits tax might apply, salary packaging a car could lower your taxable income and reduce the cost of getting into and running your next car.
Best of all, novated leasing is fully approved by the Australian Tax Office.
PAR Leasing can provide a variety of alternatives on your Novated Lease,
Please Contact Us to find out more.