Finance
Finance is where car buying becomes tricky. You already know you’ll get the best deal on your car with Carbroker.com.au, but you need the best deal on finance too! Without competitive finance, you may lose out on the savings you made on your car to begin with. The wrong type of finance will set you back more in the end. That’s why we have made it easy for you to inquire about the most suitable and tax effective car loans and leases and we will help you organise your car finance While we do assist you, this process is confidential and carried out by our in house experienced and knowledgeable finance consultants at Automotive Lease Packaging.
Selecting the Ideal Car Loan
You might have found your ideal car already, but even if you haven’t, it’s good to get clued-up on your car finance. Finding the right lease or loan starts with knowing your individual circumstance and what you can afford. Our finance consultants at Automotive Lease Packaging will tell you what kind of lease or loan is most suitable and tax effective for you. Besides the monthly finance repayment you should also want to bear in mind all the other costs associated with owning a car, such as registration, fuel, insurance, service and maintenance and vehicle depreciation.
Choosing a Novated Lease
A novated lease is an agreement between yourself, the financier, and your employer, that saves GST and income tax. Your employer pays for all of your vehicle’s finance repayments and usual vehicle running costs (fuel, registration, insurance, tyres and maintenance) from your pre-tax salary, saving you thousands by flipping the tax benefits to your advantage.
A Fully Maintained Novated Lease
This type of lease usually includes all operating costs such as the vehicle’s finance repayments, fuel, maintenance and servicing, car registration, tyres and even insurance. Your monthly payment is all-inclusive, and it can be calculated based on your existing budget. Either monthly or quarterly you will be able to track your actual expenses and you can adjust your monthly budget if necessary at any time.
Salary Packaging
This type of novated lease allows you to restructure your income, you can decide whether you want to receive your salary as a combination of cash and approved benefits. This method, approved by the Australian Tax Office, ensures that your benefits are either tax-free or taxed at concessional rates. By swapping a portion of your cash salary for benefits, you can lower your taxable income, thereby increasing your after-tax pay.
How to Choose the Right Salary Packaging
The best place to start the process of getting the right salary package starts with getting good advice, at Automotive Lease Packaging we can help with this. With the right advice, you will be able to save money by selecting the appropriate residual amount and length of your term. Regardless of whether you choose a new or used car, we can save you money.
Novated Lease Calculator
If you’re thinking of going the novated lease route, have a look at our novated lease calculator. This way you can get an idea of your monthly payments, what you can afford and the length of your lease.
Choosing Between a Car Loan and Leasing
Both leasing and car loans have their pros and cons, which is why choosing the right solution to meet your individual needs takes a little time. Our in house finance consultants at Automotive Lease Packaging will happily assist you with the finer details. For now though, here is a summary of your options.
A Novated Lease or Salary Packaging
If you can come to an agreement with your employer and get a car as part of your salary package, a novated lease could be the right solution for you. Your lease can be for either personal or business use, or a combination of both.
A Chattel Mortgage
Chattel mortgages offer both businesses and business professionals finance for cars and other equipment which is used for business purposes more than 50% of the time. Your finance company will secure the loan through a mortgage and you will be able to take ownership of the car on delivery. There are tax benefits, you will be able to deduct tax if your vehicle is used to produce accessible income. You can usually obtain a 100% loan and you can even repay your loan early. Your interest will be fixed, and you can choose a term of between one and five years.
A Secured Consumer Loan
A consumer loan is a flexible solution for those who predominantly use their cars privately. You can choose between a balloon payment and a deposit if you need to free up some cash flow and structure your instalments accordingly. Once your first payment is made, ownership of your car will be transferred to you in exchange for security over the vehicle. Once you have made the final payment you will receive security of the vehicle.
A Finance Lease
Similar to a chattel mortgage, a finance lease is used by business professionals and companies to finance cars. At the end of the lease, you can choose to purchase, refinance, or simply return the car. You don’t need a deposit for this lease and your payments are fixed.
An Operating Lease or Rental
The benefits of an operating lease are that there is no residual exposure at the end of the lease, there is no initial cash outlay, and it is tax-deductible if the car is used to produce an assessable income. So long as the car is returned with all the requirements met, you simply hand the vehicle back at the end of the term.
Our Car Loan Calculator
The most important aspects of your loan are not only that of your deposit, residual and monthly repayments, but also that of your interest rate. It’s important to note that the longer your term, the more interest you will pay. More than the repayments, our car loan calculator will help you estimate the value of the vehicle and view the outstanding balance of the loan after a certain number of months.
Our Repayment Calculator
With a better idea of the benefits of each finance option, you are ready to calculate your repayments and settle on a budget. Choose the amount you want to finance and the size of your balloon payment to suit your budget.
If you still have any finance questions, don’t hesitate to contact us. We will find your chosen car at the best price and make sure the finance you choose is the best for your needs and doesn’t break the bank either.
Testimonials
Just a short note to say thank you for brokering the purchase of my new car. The MX-5 is fantastic and what's even better is the great price you negotiated for me. The Paint Protection went on with ease and the finish is superb. I'm glad you recommended it. The entire experience has been a positive one for me. I will gladly recommend your company to any of my friends or family who are thinking of purchasing a vehicle in the future.
R.H., Adelaide
I drove around in my old car most of today and decided that I really had enough of it. Your quoted price of $18,200 is at least $1,000 cheaper than any of the others; I have been to three different dealers and haggled all day long.
S.L., Brisbane
Thanks for the quote. I am kicking my self slightly. In the weekend I went to my local dealer to test drive the car and was offered exactly my spec with 1500km on the clock. 3 months old for $55K (the GMs car). I had to make a call on the spot because another chap was also looking at it. I thought this would be pretty hard to beat so i went for it. If i had waited i guess i would have an absolutely new car and with 12 months worth of rego not 9. We live and learn. Next time. Thanks and regards
W.D., Sydney
I received my new car last week which was the fisrt time I set foot on a car lot during this and it was one of the most painless experiences! I have and will continue recommending your services to all my friend and colleges. Thanks for the prompt, professional service and the huge savings.
C.J., Brisbane
It is a sorely needed service as we have had nothing but stress and grief with the dealers we have approached ourselves.
J.F., Melbourne
Thank you for the service. The advice was good and the price reasonable. The dealer came to me at work both to value the trade in and to deliver the new car.
T.A., Melbourne
Chris, You are a champ. Your advice on the trade-in worked a treat. I have a buyer at $14,280. A cool $2280 above the original figure! Thanks mate!
B.M., Melbourne
Just to let you know that we took delivery of the new Mazda SP23 last night with the customer service from the dealer first class. I would like to take this oportunity in thanking you for your help, professional advice and most important getting me a great deal on the Mazda SP23 that I would never have achieved.
C.A., Perth
Your prompt and professional service was very appreciated, and we will recommend your service on to our friends and family.
C.K., Melbourne
All I wanted was to buy a car with no hassle and at a decent price. I was very happy with your service and I will use you again in the future. I guess that says it all, doesn't it?
A.M., Brisbane