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Did you know you could salary package a new car, used car or even your existing car?
RemServ offers a range of novated lease options to fit your lifestyle.
You could enjoy the convenience and savings associated with a novated lease, whether you salary package;
- a new car,
- a used car - even if it's from a private sale or auction,
- your own existing car, subject to certain terms and conditions*.
Generally, you could choose to lease a car for anywhere between one to five years, provided the car is not more than seven years old at the end of the lease.
Plus, a novated lease could offer you tax benefits that are not available if you purchase your car outright or finance it through other means.
Simply call us or leave your details to find out how you could benefit from a novated lease with a used car.
A novated lease is an easy and affordable way to run your car. And best of all, it could save you money.
Thousands of Australian motorists are already benefiting. Don’t believe the myths. Here are the facts.
"I don’t drive enough kilometres to benefit."
False! Anyone can benefit with a novated lease, no matter how much they drive – even if you drive less than 15,000 kilometres a year.
Consider this example:
Frank leases a car worth $34,000 on a four–year lease term. He works close to home so he only drives his car 15,000 kilometres each year. Based on his $85,000 annual salary (excluding super), Frank would receive a monthly saving of $252 or $3,026 each year. That’s an estimated benefit of up to $12,104 for the term of the lease.
Imagine what you could do with an extra $3,026 a year. The PAYG tax savings are only possible if you pay for your car with a novated lease. And if you drive low kilometres you retain the value of your car for longer. This could have a positive impact on the market value of your car, whether you sell it, or buy it outright at the end of your lease.
"I can only benefit if I have a high salary."
False! You don’t have to earn a high salary, or have a managerial job to benefit from a novated lease. Many people on an average income drive leased cars and enjoy plenty of savings.
Hint: When you apply for your lease we can assess your finance application based on your household income. Ask one of our dedicated leasing consultants to explain how this could apply to your circumstances.
Consider this example:
John’s annual salary is $50,000. He leases a car valued at $33,606 on a four-year term. He pays for his carand its running costs with a combination of pre-tax and post-tax dollars from his salary, rather than a personal loan. This means he’s already saved 10% upfront because he doesn’t pay GST on the purchase price.
By paying for his car this way, John saves $233 each month or $2,801 each year. When you add this up, John could save up to $11,204 in four years. Now that’s a big tax saving that you could put towards your household bills or a well deserved holiday.
"I can only lease a new car."
False! If you need a new car or a used car leasing is an option for you. You can choose any make or model you prefer (subject to your employer’s policy). But did you know you could take advantage of what’s known as ‘Sale and Leaseback’ if you already have a car? It works like this: if you own your car (or finance it privately) you could choose to sell your car to a financier for fair and agreed or market value, and then lease it back under a novated lease.
Our Sale and Leaseback option allows you to free-up the equity you have in your car to spend on other things, such as renovations or a holiday. A financier will buy your car, pay-out your existing finance loan and send you the remaining proceeds from the sale. We will then lease your car back to you. Your lease repayments and car’s estimated running costs are then paid with regular deductions from your salary throughout your lease.
"I am better off if I add the car to my home loan."
A novated lease offers you what an ordinary loan doesn’t – a complete deal.
Remember to weigh up all the benefits before you make a final decision:
- Save with no GST payable on the purchase price of your leased car (10% saving upfront).
- No deposit required.
- Pay for your lease and running costs from your salary – and save tax.
- Competitive pricing with our nationwide buying power.
- Pre-authorised maintenance – so you never pay for what you don’t need.
- BP, Shell or Caltex Fuel Cards – so you don’t need to pay with cash at the service station.
- Special discounts on tyres through our affiliates.
- A flexible budget for your lease repayments and car’s running costs is prepared for you (and regularly monitored) by our dedicated consultants.
Whereas, if you choose to finance your car through a personal loan or your home loan:
- You have to source your own vehicle as an individual buyer.
- You may need to pay a deposit to secure finance.
- You have to source your own finance approvals.
- You can only pay using post-tax dollars; there are no extra discounts or tax savings.
- You still have to budget (outside your loan) for your car’s running costs, including fuel, maintenance and roadside assistance.
- You may have to repay more interest over a longer period if you add your car to your mortgage loan.
How to get started
Our experienced team can guide you through the application process, answer your questions and provide you with a no-obligation quote.
Call us today 1300 123 123.
Things you need to know: This general information doesn't take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. RemServ may receive commissions in connection with its services. RemServ does not act as your agent or representative in respect of the purchase of any vehicle. RemServ does not provide any advice or recommendations in relation to the purchase of any vehicle.
Remuneration Services (Qld) Pty Ltd | ABN 46 093 173 089 | Authorised Representative (No. 293159) of McMillan Shakespeare Limited (AFSL 299054).