Novated leases are an awesome way to get a new vehicle

 

There’s a ton of perks to novated leases, including tax deductible income, saving on vehicle running and maintenance costs and no deposits or up-front costs. There seems to be one catch with novated leases, however: you’ve entered the contract of a novated lease with your employer, so what happens if you’re thinking ahead to point in time when you’ve changed jobs? 

First things first, let’s not panic. There won’t be any men in black suits and aviators coming to steal your pride and joy away from you without any notice. The good thing about a novated lease is that you can still continue leasing your car if you change jobs. However, there are a couple of conditions that have to be met. Let’s take a look.

Your next employer must offer novated leases

Sadly, you can’t just rock up to your new job on day dot and say to your boss, ‘Yo, by the way, you’re signing my novated lease so I can keep my whip’. In fact, you shouldn’t start a sentence with ‘Yo’ under any circumstances, unless you work in a skateboard shop. If you’re switching jobs, you need to consult your employer about entering into a novated lease, well before day dot.

Will they offer novated leases?

We’re not your future employer, so we don’t know whether they offer novated leases. However, in theory, every employer has the ability to enter into novated leases without financial burden. So, the question is, if they don’t offer novated leases, is this really the kind of workplace you should be spending 8 hours a day in? In all seriousness, many, many employers offer novated leases, so it’s just a question of asking your boss and negotiating from there.

What about the car finance company? Will they care?

We can’t speak for all car finance companies, because there are some pretty weird ones out there. But what we can vouch for is the team at Fingo. If you change jobs and have a novated lease on a car through Fingo, you won’t have to run around like a headless chook, worrying about whether you’re able to extend your novated lease. They want you to have your car and love it for as long as you like.

Our team at Fingo are some of Australia’s best in the car finance industry, helping you to secure novated leases on a range of different vehicles. We’re all about getting you the fairest price possible, consulting our network of 2,000 car dealerships around Australia to make sure you’re getting a great deal. Whether you’re looking at buying, selling, trading or leasing a vehicle, we are your go-to team!

Give us a call or schedule a chat for a time that suits you.

Fingo Finance