With the financial year coming to an end, there’s no better time to consider purchasing a new vehicle, particularly with a novated lease.
This period is rife with opportunities and benefits that make it the ideal time for car buying, here are 4 reasons why:
Discounts Galore
During the EOFY there are a plethora of discounts available.
Dealerships are eager to clear their stock to make room for new models. To achieve this, dealers slash prices on existing car inventory, offering substantial savings to customers.
Whether it’s a premium sedan or a family SUV, you can find significant discounts that might not be available at other times of the year.
Manufacturer Incentives
In addition to dealership discounts, manufacturers themselves offer enticing incentives.
These can include:
- Cashback offers
- Lower interest rates, and
- Additional features at no extra cost.
These incentives are designed to boost sales figures before the financial year ends. By taking advantage of these deals, you can get more value for your money and enjoy a better-equipped vehicle for less.
Tax Savings
The EOFY period is particularly beneficial for those on a novated lease due to the potential tax savings.
A novated lease allows you to make payments from your pre-tax income, which can lower your taxable income and potentially save you a significant amount in taxes.
You also save on GST on the purchase of your new car with a novated lease!
With the EOFY approaching, it’s an ideal time to consider leasing a new car.
Aligning with Financial Planning
The EOFY is a natural time for individuals and businesses to review their financial standing and planning for the year ahead.
Leasing a new car now can be a strategic move in your financial planning. You can take advantage of the current year’s tax deductions and start the new financial year with a fresh, reliable vehicle.
This can help improves your cash flow and also ensure that your transportation needs are met efficiently.
Leasing a new car during the EOFY period offers numerous advantages, from substantial discounts and manufacturer incentives to significant tax benefits and better financial planning.
If you’re considering a novated lease, now is the perfect time to make your move. Don’t miss out on these exceptional opportunities!
The information supplied on this page is provided as an information guide only and should not be relied on as a substitute for legal or other professional advice. Remunerator recommend talking to a qualified and professional financial advisor prior to entering into any novated leasing arrangements.