An excellent new lease provider will ask many questions and try to understand your situation. They’ll also provide various options that might suit your specific circumstances.
Founded in 1999, Smartsalary offers salary packaging services but strongly focuses on innovative leasing. Their specialist car leasing division, Smartleasing, operates across Australia. For the best novated lease company, click here.
Transparency
The best-novated lease companies are transparent about how the process works and their fees. If you’re chatting with a provider who sounds like they’re rushing to get you signed on the dotted line and don’t have much interest in helping you understand your car running costs or your options once your lease is up, it’s worth stepping away.
An excellent new lease company will help you find the right car that suits your needs and budget. They’ll also clarify how much you can save with novated leasing, including FBT, registration and CTP, insurance, fuel and servicing. The truth is that novated leasing is one of Australia’s most cost-effective ways to salary package a car.
Experience
The top novated lease companies have been in the industry for some time and have built their business on providing a quality experience. Generally speaking, they are backed by financiers who fund the product and take on the risk of purchasing and managing car loans.
Novated leasing is a relatively complex and unknown financial product to most people. A good provider will be knowledgeable, answer questions clearly and provide plenty of objective info.
Honesty
Most novated lease companies will source your car’s finances through a specialist lender and help you get it approved – this can include advising on which lenders will provide the best deal, preparing and submitting the finance application and more. It’s a good idea to be wary of novated lease companies with a tiny panel of lenders and use that to inflate interest rates.
They’ll often end up hiking up fees until the savings you would have made from the novated lease disappear. A good provider will understand that novated leasing is a new concept and will take the time to explain it in detail, answer questions and provide plenty of objective information so you can make an informed decision.
Flexibility
In addition to sourcing your lease finance, the best innovative leasing companies will also take care of some administration tasks for you. It can include lodging claims, registering the car and organising servicing.
ChoosingIt’s a novated lease company that understands the product, provides plenty of objective info, and is willing to answer any questions is essential. Be wary of providers that seem to be pushing you into a contract straight away without taking the time to explain what it’s all about. They might railroad you into a deal that will cost you more in the long run.
Value for money
In addition to helping you get into a car, the best-novated lease company will be honest and transparent with you about what your costs are going to be. They’ll also be transparent about how the lease will run and your options once it ends. For the best novated lease company, click here.
For example, local novated leasing company Alliance Leasing in Deakin is one of the largest providers on the ACT Government novated lease panel and is owned by local business people. Its consultants have innovated leases, and the company is committed to quality and value for its customers.
Novated leases help employees maximise their car allowance by bundling vehicle operating expenses, such as fuel and servicing, into the lease. They’re an effective way to reduce taxes, and employers can benefit from improved staff retention and satisfaction.
Novated leasing is a great way for employees to get behind the wheel of a new car with minimal upfront costs. It’s also a cost-effective option for employers to provide as part of their employee benefits package. However, before you jump in feet first with a novated lease, it’s important to know what you’re getting into.