Remunerator News

Mar 23 2021

Top 6 Common Novated Leasing Myths Debunked

shocked face pointing to text "top 6 novated leasing myths debunked"

Novated Leasing programs are proven to boost business, culture and staff morale.

However, there are misconceptions around novated leases that may affect your understanding of how novated leasing works. Read on to find out what they are!

When it comes to novated leasing questions, we have heard them all! Here are the top 6 most common novated leasing myths:

Novated Leasing Myth 1: You must drive a high number of kms

The average Australian drives around 15,000km per year.

There is no set number of kilometers you must drive to have or benefit from a novated lease!

Our customers save on tax and GST regardless of the kilometers they drive.

Novated Leasing Myth 2: It’s only for high income earners

Novated leasing is for all income earners. You are not limited to luxury and expensive cars or even new cars.

Remunerator’s novated leasing is designed for employees to get into the car they want – new or used – at fleet network discounts.

Not to mention all the tax savings that come along with a novated lease!

If you are paying tax and drive a car, there are thousands in savings you could be saving with a novated lease!

Novated Leasing Myth 3: Must have high business use

A novated lease car is not required to be primarily for business use.

Novated leasing is a way to get you into the car you want or need for everyday use.

Novated Leasing Myth 4: You can only novate a brand new car

Novated leasing is available on new, used and demonstrator vehicles.

We find our customers make the most savings on cars purchased through dealerships as you are not required to pay the GST component of the car on a novated lease.

Remunerator provide a free car procurement service to all of our customers. This allows us to source exclusive discounts and provides access to stock from a range of dealers across Australia that the regular person would not have access to.

This being said, our customers are welcome to source their own vehicles, new or used.

Novated Leasing Myth 5: You can only have one lease

You can have multiple novated leases! Your ability to package will be based on affordability. It is between you and Remunerator to determine your most appropriate salary package.

Novated Leasing Myth 6: The car has to be for yourself

Anyone can be nominated as a driver of your new car! A novated lease offers a lot of flexibility. As long as repayments are made, you can get a car on a novated lease for yourself or even a spouse or family member with an associate lease.

Have we convinced you that a novated lease is the best way to get into your new car?

Talk to one of our novated leasing specialists today on 1800 501 703 or novated@remunerator.com.au to learn how much you can save on your new car!