Does a Novated Lease Come With Insurance?

Loading Vehicle Picker...
Initialising Vehicle Picker...

Does a Novated Lease Come With Insurance?

Posted on by carbroker

Novated leases are an awesome way to secure a new whip. With so many benefits like payable tax reduction, ease of upgrading and more, there’s no wonder why novated leases are such a popular way of car ‘ownership’. But what about when it comes to one of the most important aspects of driving a vehicle: insurance? Does a novated lease come with insurance and, more importantly, does it count as a running cost that you can claim to reduce your payable tax? Let’s find out.

Novated leases and running costs

One of the biggest draw cards about novated leases is that your repayments for the car come out of your pre-tax salary, meaning your taxable income is reduced. But that’s not all – you can also claim the running costs of the vehicle on your tax bill too! So, what counts as ‘running costs’?

The answer: lots of things. Some of the biggest running costs include registration, servicing and – you guessed it – insurance! This means that every cent of insurance you pay on your vehicle can count towards reducing your payable tax. How good!

Insurance through your finance company

Many finance companies will have already arranged comprehensive insurance for your novated lease package, so if you’re cool with that, then that’s cool – but make sure you check over the details.

Insurance through a different company

You may find that there’s a better insurance package out there somewhere from a different insurance company and in this case you’re perfectly allowed to choose this deal instead of the one that was included in your novated lease. If you want to compare great deals on insurance, chat with the team at Carbroker.com.au. They’re able to use their enormous database to find you the perfect deal on insuring your leased vehicle.

Talk to the experts at Carbroker.com.au

Carbroker.com.au are Australia’s leading team of automotive brokers, and have been since their creation in 2003. Whether you’re looking for a great deal on a novated lease or looking to insure your leased car, their team has the industry knowledge and experience to help you make the right choice. They use their database of over 2,000 car dealerships Australia-wide to find you the best car for the best deal, whether you want a novated lease, car loan or something else. Get chatting with the experts at Carbroker.com.au and get into your new ride sooner!

Testimonials

I’d just like to comment on how smooth it was to purchase my car using your service. The finance broker you put me on to helped the hip pocket as much as the price you were able to secure for me. Thank you so much for making a major purchase easy, smooth and without buyer’s remorse. I will be looking you up when it comes time to replace our other car and I will continue to recommend you to all my family and friends

M.P., Melbourne

I drove around in my old car most of today and decided that I really had enough of it. Your quoted price of $18,200 is at least $1,000 cheaper than any of the others; I have been to three different dealers and haggled all day long.

S.L., Brisbane

I was pleasantly surprised when I saw the discounts of RRP that the dealer was putting down, more than made up for the cost of the fog lights and the paint protection which I optioned in! I signed the dotted line and bought my first brand new Hyundai. I will take delivery less than a week after signing, which I find quite impressive.

S.B., Sydney

Don't know how you achieve your prices but it certainly makes a difference, avoids the hassle of dealing with salesmen and has been excellent value for money. Will definitely recommend your services to family and friends.

A.J., 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 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

Thanks for your help. Must admit I was very sceptical in dealing 'on line' with an unknown person/company. As a single woman I don't want the hassle of going backwards and forwards, playing one dealer off the other. I used the internet to get a measure of what's reasonable and then it's 'give me your best price' no second chance. Some people can't get their head around that but life's too short. I only want to deal with ethical people. I'm happy that a salesperson makes a profit but it has to be fair for both parties. Thanks and I'll be recommending your site to friends.

M.F., Brisbane

Thanks to Chris and the guys at Carbroker.com.au we took delivery of a top of the range model for the same price as a dealer had quoted for the base model. No haggling, no hassles, no hesitation in recommending this service.

M.F., Perth

Thank you again. I could not have asked for better service. Having been faced with unhelpful dealers it was just so easy to place a Internet request on Thursday and to be in a new car Monday afternoon, it was more than I could have asked for. I would definitely recommend the services that you provide, without hesitation.

P.H., Canberra

This is by far the best money I have EVER spent. An outlay of just a few dollars saved me thousands - even on a limited edition vehicle! In fact, I saved so much I added a few optional accessories and still bought the vehicle at less than the retail price for the car alone (not to mention dealer delivery fees and charges). The savings didn't end there. I saved another bundle with the insurance you recommended (approx 33% less than another quote I already had). The savings here will continue for years to come! Not only will I be recommending your services to everyone I know, I will be using your services again myself. This is the ultimate car purchasing experience! Thank you again for your excellent service and attention to detail.

M.K., Brisbane

Carbroker.com.au