Australian Novated Lease/Salary Sacrificing Car calculator
Novated Lease
A novated lease works like this:- You choose a car and lease it from a finance company.
- You novate the lease to your employer. Your employer assumes all the your rights and obligations under the lease, including responsibility of meeting the lease rentals.
- The contract is in your name and you remain the registered owner throughout the lease and keep effective control of the vehicle at all times.
- If you leave the company, you keep the car. In most cases, you would take over the lease payments, or get your new employer to take over the payments.
Fully Maintained Novated Lease
A fully maintained novated Lease generally includes all of the operating costs, such as fuel, lease rental, servicing and maintenance, registration, tyres and insurance. All of these items are covered by a single monthly payment. The amount is initially calculated based on a budget. Each month (or quarter) the actual expenses are tracked against the budget, and the budget is then adjusted if required.
Salary Packaging
Salary Packaging is an Australian Taxation Office approved means of allowing your employees to effectively restructure their income. As an employee, you can choose to receive your salary as a combination of cash and approved benefits. These benefits are either tax free or taxed at concessional rates. Replacing some of your cash salary with benefits enables you to lower your taxable income to increase your overall after-tax pay.
The Right Salary Packaging
It is very important that you salary package your car correctly. Getting the right advice regarding the size of the residual and the term can make the difference between saving and losing money! If you are considering salary packaging and/or a novated lease, we can help you. Either as part of the process of pricing your new car, used car or if you’re looking for pre-approved finance. We are also more than happy to work with your existing salary packaging company. Some of these are very focused on the financial aspects of the purchase and not so good at getting the best price for the car itself. We regularly get clients that are using some of the largest salary packaging providers in Australia and manage to save them significant amounts on the car purchase.
Testimonials
Just picked up the Madza and we are both delighted with the price and the service. Your service is brilliant ... I can't of a better way to buy a new car. On behalf of Val and myself a BIG THANK YOU!
K.J., Melbourne
I've been with the RACV for over 10 years. I just didn't realise what a premium I was paying for the service. Going with your car insurance recommendation and the roadside assist is saving me several hundred dollars every year!
C.A., Ballarat
I am very pleased with the outcome, and I will certainly recommend it to my friends in the future.
D.F., Sydney
Picking up car on Friday. Saved >$3000. Thanks for everything. Would recommend process highly. Thanks!
H.M., Brisbane
Living overseas but about to return to Australia, we found that buying a new car was going to be a daunting process. Carbroker.com.au took all the hassle out of it and came up with a very competitive price as well. All we had to do was choose the model, pay a deposit and then pick up the car as soon as we arrived back in Australia. This is a great service for expats who are returning to Australia
P.H., Yamba
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.
S.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
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.
N.A., Victoria
I'd like to take this opportunity to say that this is a fantastic service you offer, especially for a woman as it takes away the pain of dealing with car salesmen. Using your service saved me thousands of dollars and I will definitely recommend you to all my friends and colleagues, in fact one has already logged on to get a quote today.
S.T., Sydney
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.
B.W., Queensland