Novated leases really aren’t complicated. Once you know how to apply for a novated lease, you’ll see that it’s not too different from applying for other forms of car finance. There are also so many benefits. From convenience to tax breaks and flexibility, it’s easy to see why people choose a novated lease. Here is a breakdown of the five simple steps to getting a novated lease.
How does a novated lease work?
Before we begin, here’s a quick summary of how novated leases work. Together you and your employer–along with the financier–will form a salary packaging arrangement so that the cost of your new or used car is deducted directly from your salary before tax and paid to the financier by the employer on your behalf.
And with our help, you will be able to sign a contract that suits everybody and puts you one step closer to driving a new vehicle.
How to get a novated lease
With a little light shed on novated leases, now you just need to know how to apply for, and secure one.
Step 1 - Talk to your employer
There are a few prerequisites:
- you need to be either a fulltime or part-time employee in Australia,
- your employer needs to have been operating for a minimum of 24 months, and lastly,
- your employer needs to agree to the salary packaging requirements.
Step 2 - Choose a car
Step 3 - Get a novated lease quote
Step 4 - Start the process
Step 5 - Take delivery of your vehicle
In just five steps, you can secure a novated lease and get on the road in your new car. With the right novated lease provider you can expect a great deal, a hassle-free process, and minimal delay between choosing a new vehicle and finally getting the keys.