Think your car is just something that gets you from point A to B?
Think again.
It could be your best tool for saving money.
Novated leasing as long been a popular car choice for drivers with it's tax saving benefits. You gain access to paying for your new car and your fuel, rego, insurance, servicing and maintenance (your running costs) using your pre-tax income. As a result your taxable income is reduced, reducing the amount of income tax you must pay.
You also save GST on these costs.
You don't need a brand new car to benefit from novated leasing.
Your current car might be your best opportunity to save.
By packaging your current car through salary packaging options like Associate Leasing or Sale and Leaseback, you can reduce your taxable income, save on running costs, and improve your monthly cash flow while keeping the car you drive.
How to Novate Your Current Car in 3 Steps:
Step One: Let's Check Your Cars Eligibility
Let us know the make, model, year and current value of your car.
There are a few things to consider when novating your current car, including:
- Under 200,000kms on the odometer at the beginning of the lease.
- A maximum of 15 years old at the end of the lease.
- Minimum value of $10,000.
Step Two: We Design Your Lease Around You
This includes your finance and running costs like fuel, servicing, rego, and insurance. All your running costs are bundled into one pre-tax payment.
You also save GST on these!
Step Three: Start Saving Through Payroll
Your lease is deducted from your salary before tax.
Meaning you keep more of your income and cut down on the hassle of bills.
Why Use Your Current Car?
Using your current car isn’t just convenient. It’s practical, efficient, and can help you get ahead financially.
- Reduce Your Taxable Income
Pay for running costs like fuel, servicing, rego, and insurance using pre-tax salary, reducing your taxable income and increasing your take-home pay. - Save on GST
Avoid paying GST on your vehicle’s running costs, reducing your out-of-pocket expenses. - Keep the Car You Love
No need to upgrade or take on new debt. Continue driving the car you’re comfortable with while accessing tax benefits. - Improve Monthly Cash Flow
Free up space in your monthly budget by lowering your taxable income and reducing expenses. - Simplify Your Car Expenses
Bundle all your vehicle costs into one manageable payment, making it easier to track and plan your budget. - Unlock Cash if Needed
Using Sale and Leaseback, access your car’s value while continuing to drive it, providing a helpful cash boost when needed. - Maximize Depreciation Benefits
Sale and Leaseback can help you capture the tax benefits of your vehicle’s depreciation while you keep using it daily.
Is It Worth Exploring?
If you’re looking to manage rising living costs without changing your lifestyle, using your current car as a cost-cutting tool could be the solution you need.
A quick conversation with a novated leasing specialist can show you how much you could save while keeping the car you love.
Ready to see how your current car can help you save?