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Novated Leasing Calculator

Novated Leasing Calculator: Your Smart Finance Tool

Effortlessly estimate your novated lease savings with precision with a novated leaisng calculator.

What Is A Novated Leasing Calculator?

A novated lease calculator is an invaluable tool for anyone considering a novated lease. Our online tool allows you to estimate the cost of leasing a vehicle based on your specific circumstances. By entering information about your salary, desired vehicle, and other relevant details, you can quickly get an estimate of your monthly lease payments and potential savings.

Whether you’re an employee considering a novated lease or an employer looking to offer this benefit to your staff, the novated lease calculator is an essential tool.

How to Use the Novated Leasing Calculator

Follow these steps to get an accurate estimate of your lease savings:

  1. Enter your annual salary or the salary range if applicable.
  2. Select the make, model, and year of the vehicle you’re interested in.
  3. Input the desired lease term, usually ranging from one to five years.
  4. Provide additional details such as fuel type, trim, VIN, and style if necessary.
  5. Compare the lease offer to determine if it meets your expectations.

Benefits of Using Our Novated Leasing Calculator

What Is A Novated Lease?

A novated lease is a three-way agreement between an employer, employee, and a finance company. It allows employees to lease a vehicle of their choice using pre-tax income.

In a novated lease arrangement, the employer takes on the responsibilities of lease payments, and the employee benefits from the convenience and financial advantages of the lease. The employee can enjoy tax benefits, reduced running costs, and potential savings compared to purchasing a vehicle outright.

A novated lease calculator plays a crucial role in this process by providing accurate estimates of lease costs and savings. It helps both employees and employers understand the financial implications and benefits of a novated lease.

Why Choose a Novated Lease

One of the primary advantages of a novated lease is the potential tax savings. By using pre-tax income to cover lease payments, employees can reduce their taxable income and potentially pay less tax.

With a novated lease, all vehicle-related expenses are bundled into a single monthly payment. This includes finance costs, insurance, maintenance, and even fuel. It simplifies budgeting and eliminates the hassle of managing multiple payments.

Novated leases offer flexibility in terms of vehicle choice and lease terms. Employees have the freedom to select a vehicle that suits their needs and preferences. Lease terms can also be tailored to align with individual financial goals.

Novated leasing can result in significant cost savings compared to purchasing a vehicle outright. Employees can take advantage of discounts negotiated by their employer, reduced running costs, and potential tax benefits.

Calculate Your Savings Today

Ready to estimate your lease savings and explore the benefits of a novated lease? Start using the novated leasing calculator today to get an accurate estimate of your monthly lease payments and potential savings.

Costs Associated With Novated Leasing

The calculator estimates the monthly lease payments, which encompass the financing of the vehicle over the lease term. It considers factors such as the vehicle’s selling price, residual value, lease term, and interest rates.

The calculator includes the cost of comprehensive insurance, ensuring that your vehicle is protected in case of accidents, theft, or other incidents.

Regular maintenance and servicing costs are factored into the calculator. It takes into account expenses such as scheduled services, repairs, and wear and tear items.

The calculator estimates the fuel costs based on the selected vehicle’s fuel efficiency and the expected annual mileage.

The calculator considers the costs associated with vehicle registration, taxes, and other licensing fees.

Requirements From Your Employer

Employers typically have salary packaging policies in place. Familiarise yourself with your employer’s policy to understand the eligibility criteria and any restrictions for novated leasing.

Depending on your employer’s policy, you may need to seek approval from your employer to enter into a novated lease agreement. This ensures that your employer is aware of the arrangement and can facilitate the necessary payroll deductions.

You will need to provide accurate information about your salary, including your annual income, as this impacts the lease calculations and potential tax savings.

Your employer will deduct lease payments from your pre-tax income and facilitate the payment to the finance company. Ensure that you understand the payroll deduction process and any associated administrative requirements.