Remunerator News

Apr 14 2020

What types of vehicles can I get on a novated lease?

What types of vehicles can I get on a novated lease?

You can get a novated lease on any car you want as long as it’s eligible for a novated lease. Novated leasing isn’t limited to brand new cars.  

 

Used cars and demo models

Normally you would have to source a used car yourself if the car is second hand or a demo model sold at dealership. However, we have had an increase in demand for used and demo vehicles, so we are pleased to announce that Remunerator will source any 2017 or later used or demo models sold through a dealership.

However, if the used car is from a private seller, you must source the car yourself. Keep in mind a used car cannot be more than 10 years old at the end of the lease.

 

New cars

Remunerator can help you get any new car on a novated lease. There are three main benefits when novating a car with Remunerator:

  • Financial savings
  • Flexibility and convenience
  • Ongoing support

A novated lease allows you to save on the purchase price of the car, income tax and vehicle running costs. Remunerator’s fantastic vehicle procurement service can and will source you the best price on your new car. Through Remunerator’s buying power, we have access to major discounts on any eligible vehicle that you cannot get yourself.

We offer flexible terms, tailoring the novated lease to your personal circumstances and the lease term, setting budgets for annual running costs and sourcing a car that suits your lifestyle. If your personal circumstances change, Remunerator’s team will work with you to adjust the conditions of your novated lease.

Finally, Remunerator provides ongoing support to our customers. We offer individual information sessions so that you fully understand the benefits available to you.

 

What about the car I already own?

Did you know there’s more than one way to save on your car? You might already own a car that isn’t on a novated lease. Remunerator can help you save on the car in your driveway. Any car that you own outright or on personal finance can be salary packaged under an associate lease. This arrangement allows you to generate an income for the ‘associate’ while reducing your taxable income and gaining access to Remunerator’s suite of tools and resources to manage your car.

This opens you up to savings on your running costs including fuel, maintenance, insurance and repairs. Like a novated lease, these running cost payments are made from your pre-tax income, allowing you to make income tax savings.

 

I learnt about novated leasing after I bought my car with cash. Can I still benefit from a novated lease?

Yes, you can benefit from your new car through a sale and leaseback. This arrangement allows you to get the most value out of your car and maximise on the depreciation of the vehicle.

Remunerator’s financier buys the car at an agreed value for cash – this amount goes into your pocket. You then buy the car back on a novated lease with Remunerator, giving you access to a range of benefits and savings. Remunerator does all the work so all you have to do is save on the car you already own!