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Novated Car Leasing & Salary Sacrifice

Jade Finance arranges Novated Car Leasing with Salary Sacrificing for businesses that choose to provide a car for an employee for use in their work and both employer and employee agree to deduct the costs associated with the vehicle from the employee’s salary package.

By definition, a novated lease means that one obligation is novated or replaced by another obligation or another party. The obligation of the car lease is novated from employee to employer. Novated Car Leasing with Salary Sacrificing involves a financial agreement between employee and employer in conjunction with the lender, in regard to a car purchase.

Key Features

  • Jade’s signature cheap interest rates.
  • Employee choose the car and works with their Jade Finance consultant to secure a car leasing contract. Employee ‘novates’ the car lease contract to the employer.
  • Employer pays the monthly lease payment and other car operating expenses including rego, insurance, servicing, repairs, petrol etc.
  • Expenses are deducted from the employee’s pre-tax salary. The employee gives up or sacrifices that amount of wages/income in return for having the car of their choice, fully maintained by their employer.
  • Lease payments are fixed, lease term is fixed.
  • Lease terms from 12 months/1 year to 84 months/7 years. Your Jade consultant will negotiate the terms to suit your requirements and vehicle.
  • A residual may be included and the amount is based on ATO guidelines.
  • Vehicle must be used for business purposes. Refer to ATO guidelines.
  • Employer receives the relevant tax deductions, pays and claims GST as applicable and addresses any aspects of FBT in accordance with ATO guidelines.
  • Employee reduces taxable income and hence reduces tax payable and enjoys use of a car without having to pay for the expenses of buying or running the vehicle.
  • On finalising all lease payments and the residual, the lender transfers ownership of the car to the employee.
  • Suitable for full-time and part-time employees.
  • Can be used for new and used car purchases.

If this type of car financing is of interest to you, your Jade Finance consultant can provide more specific details on key aspects and explain how it would work in your situation. The differences between an employee having use of a ‘company car’ and a Novated Car Lease option can also be clarified.

Most banks and lenders offer Novated Car Lease as part of their commercial financing options. But only experienced brokers like Jade Finance can source you a Novated Lease quote after considering the offers from a vast selection of banks and lenders. We’re not limited to just one interest rate or one lease structure.

Jade Finance presents you with the best Novated Car Lease deal that the market has to offer, structured to suit your individual requirements and based on the cheapest interest rates.

Speak with a Jade Finance Consultant to discuss Novated Car Leasing with Salary Sacrificing for your business vehicle purchase. Call 1300 000 003

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Request a free finance quote by calling 1300 000 003 or directly online.

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