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.
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.
I would like to thank you and your organisation for your assistance in the purchase of my new Hyundai Tiburon. As you are aware, I am Sales Manager of a busy company in Brisbane, and I did not have to leave my office once during the 4 days it took to find the car,organise trade-in,arrange for extras and deliver the car. I would have no hesitation in recomending your organisation to both, my friends and interested parties looking to purchase a new car. Thanks again and good luck in the future
Picking up car on Friday. Saved >$3000. Thanks for everything. Would recommend process highly. Thanks!
I am impressed by your professional approach with your customers. Therefore, I have already recommended your service to my collegues, friends. I would again use your service in the future when I buy the next car for my wife. I will continue support you and your dealers in the future as you all are doing wonderful jobs!
I haven't met you in person but felt like I knew you for ages. I really appreciate for the great help and assistance right through the process. I got my car yesterday. I Thank you once again for the best customer service. I will call you later. I just can't believe that computer technology and modern technology has really made the process quicker than I ever thought without compromising on service.
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.
I picked up my new Nissan Patrol on Friday afternoon. I would like to thank you for all the work you did on my behalf and the fantastic price you secured my new car for. It was so good not to have to do the rounds of the car yards and try to beat car sales people at what they do best. Your website was also great with tips on how to sell my other car as well as all the other information available on it. The dealership was very professional as well and the car was ready as promised and in a very nice condition.
I was pleasantly surprised when I saw the discounts of RRP that the dealer was putting down, more than made up for the cost of the fog lights and the paint protection which I optioned in! I signed the dotted line and bought my first brand new Hyundai. I will take delivery less than a week after signing, which I find quite impressive.
I just want to say thank you for all your effort in getting me a good deal on the car. I managed to save close to $6,000 from the initial quote given to us by a Toyota car dealer. I am very happy with your service and will surely recommend you to all my friends who are keen to buy a new car.
I know what you mean when you say 'buyer's remorse'. I've had it each time I bought a new car except this time. It's a great feeling to a) get a great price b) avoid the huge stress. Seeing things from 'the other side' has made me a convert: This is the way to buy a car! Thanks for a great business.
We weren't sure what to expect when using this service. It turned out to be one of the cheapest, stress-free and best investments we've ever made! Within a few hours of our enquiry Carbroker.com.au came up with a deal that saved us 13% off the recommended retail price of a new car. Further, by using the advice provided to members regarding the sale of our used car we were able to get $1500 more than any previous trade-in offer in just a matter of hours! This is a fantastic service that in total, put about $5000.00 in OUR pocket - not the dealer's! We'll never buy another new car again without going straight to Carbroker.com.au!