Novated Lease Benefits

3 Benefits of a Novated Lease

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If your employer has recently offered the option for you to get a vehicle with a novated lease, you could be wondering if it’s something that you should do. Of course, it is important to weigh out the pros and cons before you do it, but for many, it really is a good idea. These are a few reasons why you might just want to consider your employer’s offer for a novated lease.

1. Save on Taxes

For one thing, Novated Lease Stratton can save you a lot of money on taxes. Since some of the cost of your car will be covered by your pre-tax income, you can actually make use of these funds without having to pay taxes on them. Plus, as an added bonus, this will help you keep your taxed income amount lower, which might mean that you will end up paying less in taxes throughout the year altogether. If you feel like you are paying too much in taxes and would like to relieve some of your tax burden while paying for something that will be beneficial for you, choosing one of these leases can be a good idea.

2. Have Everything Covered

You might already know about all of the stresses that go along with buying a car. Along with having to worry about paying for a car and the insurance to cover it, you also have to worry about paying for maintenance, fuel and more. All of these things can be complicated to budget for and can put you in a financial bind. If you choose a novated lease, however, you can actually have all of these things covered in one payment that is paid for with a combination of your pre-tax and after-tax income. This can relieve some of your stress and leave you with a lot less to worry about.

3. Pay Less for a Vehicle

Buying a car can be very expensive. If you lease one on your own rather than through a program through your employer, you can save a little bit. However, you might be able to get a truly great deal by doing a novated lease. This can help you drive a nicer vehicle for a lower price.

As you can see, for many people, a novated lease can be a good option. Therefore, if your employer has recently offered you the option to participate in a novated lease, it might be something for you to look into. These are just a few of many reasons why.

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