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
This is by far the best money I have EVER spent. An outlay of just a few dollars saved me thousands - even on a limited edition vehicle! In fact, I saved so much I added a few optional accessories and still bought the vehicle at less than the retail price for the car alone (not to mention dealer delivery fees and charges). The savings didn't end there. I saved another bundle with the insurance you recommended (approx 33% less than another quote I already had). The savings here will continue for years to come! Not only will I be recommending your services to everyone I know, I will be using your services again myself. This is the ultimate car purchasing experience! Thank you again for your excellent service and attention to detail.
M.K., Brisbane
A short note to say thanks for the professional and profitable service that you've just delivered to me. Getting the best price from the city and then translating to a country dealer in a small town made it a lot easier. You'd be surprised how many times we bump into each other, and taking the local personality out of the negotiation was much appreciated by both the dealer and myself.
K.P., Armidale
Your manner and professionalism on the phone is excellent. It was a real pleasure to deal with you. I wish you the best in the future, and you can rest assured I will be back!
M.F., Sydney
Just a brief note to say thanks for your outstanding service. You managed to find a dealer who was prepared to reduce the purchase by some $6750 inclusive of all costs and then you went further by haggling for a better trade in for me giving me a change over cost of exactly $13500 less... THAT I CALL SERVICE...I shall certainly be singing your praises.
K.B., Sydney
This is the very first time that I have ever bought anything via the internet, or ever done any business over this means, and so I want to specially thank you for honouring my trust. Yet you also did much more than that, you got me a far bigger saving, (over twice that which I imagined possible), with a good and reputable dealer, delivered at our nominated timing, and you displayed great patience with myself through the process. This is my wife's very first new car and she is absolutely delighted with it. So much so, that she has not even allowed me to have a drive of it yet. And so I guess we have all been winners, haven't we? And what could be better than that?
K.S., Brisbane
Thank you again. I could not have asked for better service. Having been faced with unhelpful dealers it was just so easy to place a Internet request on Thursday and to be in a new car Monday afternoon, it was more than I could have asked for. I would definitely recommend the services that you provide, without hesitation.
P.H., Canberra
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
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
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
Thankyou very much Carbroker.com.au for helping us to buy our new car. We are very happy with the process of buying a car through Carbroker.com.au. We usually have big arguments over haggling so it was a great relief to get CarBroker to do all the hard work to relieve the stress on us and our marriage. And we still got a great price!
N&M, Sydney