What are the Top Benefits of a Novated Lease?
If your current employer is talking to you about changing your salary package or if you have been looking for a new job and have been offered a position with a novated lease, you could be wondering if it’s something that you should look into. Of course, some employees would prefer not to be involved in this type of leasing situation. For many employees across Australia, however, a novated lease can be a positive thing. These are some of the top benefits of a novated lease.
Save on Taxes
If you are currently unhappy with how much of your paycheck goes to taxes each pay period, you might be particularly interested in a Stratton Novated Lease. One of the top benefits of this type of arrangement is the fact that the cost of the monthly lease payment will be taken out of your pre-tax income each month. Therefore, this is money that you will not have to pay taxes for but that you will receive a financial benefit for. For someone who is looking to reduce the amount that they have to pay in income taxes, a novated lease can be a good option to think about.
Avoid Worrying About a Car
Making sure that you have a good, reliable vehicle to drive to and from work every day might be very important to you. With a novated lease, you can lease a brand new car that suits your needs and lifestyle. Then, you will know that you have a good car, and you will not have to worry about going out and securing financing for a car purchase or car lease yourself.
Along with not having to worry about securing a vehicle, you may not have to worry about taking care of your vehicle, either. Depending on the novated lease arrangement that you enter into, things like vehicle maintenance might be included in your leasing payments. Then, when your car needs to be serviced, you can simply take it to the shop without having to worry about coming out of pocket for it. Instead, everything will be included in the lease payment that is taken out of your pre-tax income, so you won’t have to worry about budgeting separately for these things or being taken by surprise by costs that you weren’t counting on.
Get a Better Deal
Depending on your employer and the dealership that it works with, there is a good chance that you might be able to get a better deal on your lease payments than what you might pay if you got your loan on your own. This is because many employers have good working relationships with these companies because they offer these types of leases for multiple employees and are able to get a bulk discount.
As you can see, a novated lease can be a positive thing. If you talk to your employer or potential employer about this option, you might find that it’s something that you are interested in for yourself.