We hate to sound like the bunch of grumpy uncles at your family Christmas party, but gee, how about those petrol prices, hey? At record highs, there’s no wonder why the whole country is complaining about petty prices, and even labelling the simple act of filling up your car as a massive flex. 

People have taken to online marketplaces to request swapping pairs of shoes for petrol, furniture for petrol, appliances for petrol… it’ll get to a point where they’re looking to trade their cars for petrol, making no sense whatsoever. 

But in this madness lies a solution – and something that the team at Fingo have been passionate about for quite some time. Is entering a novated lease the perfect way to circumvent these high petrol prices? Here’s how a novated lease can help you keep your fuel costs down.

Novated leases allow you to deduct petrol as a running expense

One of the most beautiful things about getting a novated lease is that you can claim all expenses against your taxable income so that you’ll pay less tax. And what’s one of the main expenses of running a car? You guessed it. Fuel.

How to claim petrol on your novated lease?

There are plenty of ways of keeping track of your fuel spending when you’re on a novated lease – and don’t worry, you won’t have to keep a drawer full of all your servo receipts! Fuel cards can be a great way to monitor your fuel expenditure in one place and some novated lease providers even have apps in which to do this. It’s never been easier to keep all the numbers together.

Novated leases can score you a more economical car

Fuel prices don’t look like they’re going down anytime soon. Sure, they may be temporary in the scheme of things, but they could go on for months and months if the much-needed sanctions on Russia continue. 

With this in mind, it’s wise to consider using a novated lease to score yourself a more economical car, or even a hybrid. A six cylinder family sedan can be twice as thirsty as a four cylinder hatch or small sedan, so think about how much money you’d save at the fuel pump with a smaller car. Hybrids take things one step further. Not only do you have the option to spend zero dollars on fuel, but you can also feel great about making an eco-conscious decision and reducing your carbon footprint.

Reckon it’s time to look further into a novated lease? Talk to the legends at Fingo. They’re Australia’s most energetic and driven bunch of car finance experts, helping you to secure a novated lease, car loan, or any other vehicle solution. Find your next dream car for a dream price when you chat to the team at Fingo.

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