Finance
Finance is where car buying becomes tricky. You already know you’ll get the best deal on your car with Carbroker.com.au, but you need the best deal on finance too! Without competitive finance, you may lose out on the savings you made on your car to begin with. The wrong type of finance will set you back more in the end. That’s why we have made it easy for you to inquire about the most suitable and tax effective car loans and leases and we will help you organise your car finance While we do assist you, this process is confidential and carried out by our in house experienced and knowledgeable finance consultants at Automotive Lease Packaging.
Selecting the Ideal Car Loan
You might have found your ideal car already, but even if you haven’t, it’s good to get clued-up on your car finance. Finding the right lease or loan starts with knowing your individual circumstance and what you can afford. Our finance consultants at Automotive Lease Packaging will tell you what kind of lease or loan is most suitable and tax effective for you. Besides the monthly finance repayment you should also want to bear in mind all the other costs associated with owning a car, such as registration, fuel, insurance, service and maintenance and vehicle depreciation.
Choosing a Novated Lease
A novated lease is an agreement between yourself, the financier, and your employer, that saves GST and income tax. Your employer pays for all of your vehicle’s finance repayments and usual vehicle running costs (fuel, registration, insurance, tyres and maintenance) from your pre-tax salary, saving you thousands by flipping the tax benefits to your advantage.
A Fully Maintained Novated Lease
This type of lease usually includes all operating costs such as the vehicle’s finance repayments, fuel, maintenance and servicing, car registration, tyres and even insurance. Your monthly payment is all-inclusive, and it can be calculated based on your existing budget. Either monthly or quarterly you will be able to track your actual expenses and you can adjust your monthly budget if necessary at any time.
Salary Packaging
This type of novated lease allows you to restructure your income, you can decide whether you want to receive your salary as a combination of cash and approved benefits. This method, approved by the Australian Tax Office, ensures that your benefits are either tax-free or taxed at concessional rates. By swapping a portion of your cash salary for benefits, you can lower your taxable income, thereby increasing your after-tax pay.
How to Choose the Right Salary Packaging
The best place to start the process of getting the right salary package starts with getting good advice, at Automotive Lease Packaging we can help with this. With the right advice, you will be able to save money by selecting the appropriate residual amount and length of your term. Regardless of whether you choose a new or used car, we can save you money.
Novated Lease Calculator
If you’re thinking of going the novated lease route, have a look at our novated lease calculator. This way you can get an idea of your monthly payments, what you can afford and the length of your lease.
Choosing Between a Car Loan and Leasing
Both leasing and car loans have their pros and cons, which is why choosing the right solution to meet your individual needs takes a little time. Our in house finance consultants at Automotive Lease Packaging will happily assist you with the finer details. For now though, here is a summary of your options.
A Novated Lease or Salary Packaging
If you can come to an agreement with your employer and get a car as part of your salary package, a novated lease could be the right solution for you. Your lease can be for either personal or business use, or a combination of both.
A Chattel Mortgage
Chattel mortgages offer both businesses and business professionals finance for cars and other equipment which is used for business purposes more than 50% of the time. Your finance company will secure the loan through a mortgage and you will be able to take ownership of the car on delivery. There are tax benefits, you will be able to deduct tax if your vehicle is used to produce accessible income. You can usually obtain a 100% loan and you can even repay your loan early. Your interest will be fixed, and you can choose a term of between one and five years.
A Secured Consumer Loan
A consumer loan is a flexible solution for those who predominantly use their cars privately. You can choose between a balloon payment and a deposit if you need to free up some cash flow and structure your instalments accordingly. Once your first payment is made, ownership of your car will be transferred to you in exchange for security over the vehicle. Once you have made the final payment you will receive security of the vehicle.
A Finance Lease
Similar to a chattel mortgage, a finance lease is used by business professionals and companies to finance cars. At the end of the lease, you can choose to purchase, refinance, or simply return the car. You don’t need a deposit for this lease and your payments are fixed.
An Operating Lease or Rental
The benefits of an operating lease are that there is no residual exposure at the end of the lease, there is no initial cash outlay, and it is tax-deductible if the car is used to produce an assessable income. So long as the car is returned with all the requirements met, you simply hand the vehicle back at the end of the term.
Our Car Loan Calculator
The most important aspects of your loan are not only that of your deposit, residual and monthly repayments, but also that of your interest rate. It’s important to note that the longer your term, the more interest you will pay. More than the repayments, our car loan calculator will help you estimate the value of the vehicle and view the outstanding balance of the loan after a certain number of months.
Our Repayment Calculator
With a better idea of the benefits of each finance option, you are ready to calculate your repayments and settle on a budget. Choose the amount you want to finance and the size of your balloon payment to suit your budget.
If you still have any finance questions, don’t hesitate to contact us. We will find your chosen car at the best price and make sure the finance you choose is the best for your needs and doesn’t break the bank either.
Testimonials
I must say that your service is excellent - using it should be a "no brainer" for anyone buying a car. Gaining access to a sourcing professional with deep domain expertise to assist with a high value purchase for under a $100 is fantastic. Many thanks
I.H., Perth
All I wanted was to buy a car with no hassle and at a decent price. I was very happy with your service and I will use you again in the future. I guess that says it all, doesn't it?
A.M., Brisbane
Negotiating a deal with a professional car salesman is tough and time-consuming, especially if you don't have a lot of local experience. Having someone act on your behalf creates an advantage that can't be ignored, and I have to say the $4,900 saving that I achieved off a $43,300 vehicle via Carbroker.com.au is definitely worth the minimal cost of registering an interest at the Carbroker.com.au web site. Thanks to Chris Wilson for this much-appreciated service.
C.P., Sydney
Just to let you know that we took delivery of the new Mazda SP23 last night with the customer service from the dealer first class. I would like to take this oportunity in thanking you for your help, professional advice and most important getting me a great deal on the Mazda SP23 that I would never have achieved.
C.A., Perth
Just a note to say a HUGE THANK-YOU for your services. You were very prompt in replying, and saved us $3000 on the purchase of our new car (almost 10% on the total cost of the car). With a young family, that's a huge saving for us. Thank-you again.
K.S., Brisbane
This is the very first time that I have ever bought anything via the internet, or ever done any business over this means, and so I want to specially thank you for honouring my trust. Yet you also did much more than that, you got me a far bigger saving, (over twice that which I imagined possible), with a good and reputable dealer, delivered at our nominated timing, and you displayed great patience with myself through the process. This is my wife's very first new car and she is absolutely delighted with it. So much so, that she has not even allowed me to have a drive of it yet. And so I guess we have all been winners, haven't we? And what could be better than that?
K.S., Brisbane
Just a brief note to say thanks for your outstanding service. You managed to find a dealer who was prepared to reduce the purchase by some $6750 inclusive of all costs and then you went further by haggling for a better trade in for me giving me a change over cost of exactly $13500 less... THAT I CALL SERVICE...I shall certainly be singing your praises.
K.B., Sydney
Your prompt and professional service was very appreciated, and we will recommend your service on to our friends and family.
C.K., Melbourne
Thankyou very much Carbroker.com.au for helping us to buy our new car. We are very happy with the process of buying a car through Carbroker.com.au. We usually have big arguments over haggling so it was a great relief to get CarBroker to do all the hard work to relieve the stress on us and our marriage. And we still got a great price!
N&M, Sydney
I took delivery of the new car today. Until it actually happened I had a concern at the back of my mind that it was too good to be true to get the car at the price you obtained for me, with no catches. The dealer rep has been great and I have had no sense of getting cut price service to go with the low price. So, thank you. I am sold and based on my experience I am sure your business will continue to grow simply by word of mouth....mine will be among the loudest.
P.B., Sydney