Australian Novated Lease/Salary Sacrificing Car calculator
Novated Lease
A novated lease works like this:- You choose a car and lease it from a finance company.
- You novate the lease to your employer. Your employer assumes all the your rights and obligations under the lease, including responsibility of meeting the lease rentals.
- The contract is in your name and you remain the registered owner throughout the lease and keep effective control of the vehicle at all times.
- If you leave the company, you keep the car. In most cases, you would take over the lease payments, or get your new employer to take over the payments.
Fully Maintained Novated Lease
A fully maintained novated Lease generally includes all of the operating costs, such as fuel, lease rental, servicing and maintenance, registration, tyres and insurance. All of these items are covered by a single monthly payment. The amount is initially calculated based on a budget. Each month (or quarter) the actual expenses are tracked against the budget, and the budget is then adjusted if required.
Salary Packaging
Salary Packaging is an Australian Taxation Office approved means of allowing your employees to effectively restructure their income. As an employee, you can choose to receive your salary as a combination of cash and approved benefits. These benefits are either tax free or taxed at concessional rates. Replacing some of your cash salary with benefits enables you to lower your taxable income to increase your overall after-tax pay.
The Right Salary Packaging
It is very important that you salary package your car correctly. Getting the right advice regarding the size of the residual and the term can make the difference between saving and losing money! If you are considering salary packaging and/or a novated lease, we can help you. Either as part of the process of pricing your new car, used car or if you’re looking for pre-approved finance. We are also more than happy to work with your existing salary packaging company. Some of these are very focused on the financial aspects of the purchase and not so good at getting the best price for the car itself. We regularly get clients that are using some of the largest salary packaging providers in Australia and manage to save them significant amounts on the car purchase.
Testimonials
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
Picking up car on Friday. Saved >$3000. Thanks for everything. Would recommend process highly. Thanks!
H.M., Brisbane
All went well with the sale - your dealer was helpful, friendly and arranged the tray with no fuss or fanfare. The whole process has been totally painless and I will (and have been) recommend your service to everyone.
R.H., Mitcham
I've been with the RACV for over 10 years. I just didn't realise what a premium I was paying for the service. Going with your car insurance recommendation and the roadside assist is saving me several hundred dollars every year!
C.A., Ballarat
I would like to thank you and your organisation for your assistance in the purchase of my new Hyundai Tiburon. As you are aware, I am Sales Manager of a busy company in Brisbane, and I did not have to leave my office once during the 4 days it took to find the car,organise trade-in,arrange for extras and deliver the car. I would have no hesitation in recomending your organisation to both, my friends and interested parties looking to purchase a new car. Thanks again and good luck in the future
B.R., Brisbane
I picked up my new Nissan Patrol on Friday afternoon. I would like to thank you for all the work you did on my behalf and the fantastic price you secured my new car for. It was so good not to have to do the rounds of the car yards and try to beat car sales people at what they do best. Your website was also great with tips on how to sell my other car as well as all the other information available on it. The dealership was very professional as well and the car was ready as promised and in a very nice condition.
B.W., Queensland
...your professionalism and responsiveness is incredible... exceeding my expectations that were already quite high due to the information available, and style and tone of your website.
C.H., Brisbane
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
We saved around $1500 which was absolutely fantastic given that it resulted from only one web enquiry and five minutes of our time! Thankyou so much. And, yes, we will tell others of your service.
J.T., Canberra
I received my new car last week which was the fisrt time I set foot on a car lot during this and it was one of the most painless experiences! I have and will continue recommending your services to all my friend and colleges. Thanks for the prompt, professional service and the huge savings.
C.J., Brisbane