A Novated Lease is a three way structured agreement between you, your employer and the financier where you can lease a vehicle. It is a lease solution that allows a business to lease a vehicle on behalf of an employee, with the responsibility for the lease lying with the employee and the lease payments being made from the employee’s pre-tax income. This agreement means your pre-tax income can be used for a majority of the costs associated with financing and running your vehicle.
Since the repayments are taken out of your pre-tax income, your taxable income is reduced, this means that you could pay less tax and that your disposable income could increase.
A Novated Lease agreement means your employer is responsible for the lease obligations of your vehicle whilst you are in their employment and this can lead to a whole range of benefits.
Novated Lease Benefits
Savings, simplicity, exclusive privileges are some of the benefits you receive when you Novate your vehicle through FleetPartners. Our professional team of Novated experts are always ready to provide you with assistance and get you started.
The advantages you could reap when you Novate your vehicle with FleetPartners:
- Dedicated Driver Relationship Team
- Decades of Automotive expertise
- Access to vehicle discounts otherwise unavailable to individuals
- Flexible terms: You can upgrade to something new whenever you want.
- Discounted maintenance
- Sale & Lease Back available
- 24|7 Accident & Breakdown Assistance
- Freedom of vehicle choice
- Simple monthly repayment
- Increased Income
Benefits for the employer:
- a way to provide an effective increase in employees’ salaries with no or minimal cost to the business
- potentially a cost effective alternative to operating a fleet of company vehicles
- compared to company cars, the business does not assume any risk for the vehicles
- compared to company cars, employee vehicles are “off balance sheet”