Feb 23 2016
Dream Car or Dream Holiday?
How many times have you had to forego your Dream Car so that you can take your family or your partner, or yourself for that matter, on a holiday?
Have you driven past your Dream Car and thought …. “One day that’ll be mine”?
Well wait no more. That time is here and now.
Remunerator can make your dream a reality. You can be in your Dream Car and making your way to your favourite holiday destination in a blink of an eye.
I can hear you saying “That can’t happen”. Well, it definitely can happen. Let us tell you about Miss M.
Miss M’s dream car is a brand new 2015 Alfa Romeo however she also wants to travel to New Zealand in the next 12 months.
If Miss M was to obtain a bank loan of $42,000 for her dream car, her repayments would equate to approximately $1006 per month over 5 years with a variable interest rate of 14.69%. Additionally, she would also need to pay for petrol & maintenance, registration & insurance. That’s approximately an extra $275 per month. Bringing her monthly expenditure to $1,281 per month, post-tax.
By obtaining a Novated Lease with Remunerator, Miss M was able to save approx. $9000 on the purchase price of her car due to buying power. When taking into account the lease of the vehicle, petrol & maintenance, registration & insurance, her monthly repayments equate to $670 per month over a 5 year period. Let’s not forget, that due to her purchasing the vehicle via a Novated Lease, that her payments are partially pre-tax, which means that she is also saving on income tax, in addition to the $9,000 saved on the purchase of her car.
In the meantime, Miss M has decided to save the difference between what she would have paid the bank and what she is currently paying via her Remunerator Novated Lease by putting $610 per month into her savings account. Once her 5 year lease is up, she will have saved an additional $36,600. Subtract her balloon payment of $9,000 and that will leave her with $27,600 in savings. So she could in fact travel to NZ every year!
Are you offering Novated Leasing to your employees?
If not, maybe it’s an employee benefit that you should consider!
Employees can contact our Novated Leasing team today for a quote on 1300 654 834 or use our online calculator by clicking here Novated Lease Calculator to see how much they can save with a Remunerator Novated Lease.