Can anyone have a Novated Lease in Adelaide?
If you earn a salary and you pay tax, you can have a Novated Lease in Adelaide. However before entering into a Novated Lease it is worth understanding the following steps that will save you valuable time and money.
- IF YOU ARE A GOVERNMENT EMPLOYEE (STATE/FED/DEFENCE/LOCAL)- You are free to explore your Novated Lease options by following steps 3 onwards. All government departments offer their employees Salary Packaging and one of the most used benefits is a Novated Lease. Importantly most government departments offer choice when sourcing the vehicle, the finance (lease) and your insurance. By having the option to seek competitive quotes will save you thousands extra per year. For a competitive quote in seconds try our online calculator or call us on 1300 990 880.
- IF YOU WORK FOR A PRIVATE COMPANY – TALK TO YOUR EMPLOYER – Does your employer have a Salary packaging Provider or do they offer it internally. You can find out this information by discussed Novated Leasing with your payroll or HR department. A Novated Lease in Adelaide is the same as any other state and requires an employer to co-sign a Novation Deed. This is a document that allows your employer to pay for the finance (lease) by deducting an agreed amount from your pre-tax salary. Your employer is also able to claim the GST on these amounts and pass this benefit back to you. If you are having any difficulty in getting this information please feel free to contact us on 1300 990 880 or 8338 4427 and we can either send through some information for your employer or come out to your workplace and do a presentation. Our service is free to your employer and we do all of the work. Vehicle Solutions Australia is a provider to over 85 companies and Governments offices throughout Australia. We Salary Package for employers with 24,000 employees to 3 employees, we are happy to help all employers offer their employees this benefit.
- CHOOSE A CAR – This is one of the most important decisions to make. The car needs to fit your lifestyle and also be a vehicle that will hold its value to maximise its sale value at the end of the lease term. Each lease has a residual value, which is deemed to be the value of the vehicle at the end of the lease term. The ATO set stringent guidelines on residual values and sets these as percentages based on the lease term. For example if your lease is over 5 years your residual value must be between 25 to 35% of the vehicle cost at purchase. If you choose a vehicle that holds its value any money you receive over the residual value is your to keep, tax free. After choosing the vehicle getting the best price is just as important. Vehicle Solutions Australia is the only Salary Packaging provider to have built and own a 100% transparent online new vehicle buying platform called Motorbuys. Motorbuys will send your vehicle pricing request to every dealership in the region/s you choose completely anonymously. Dealerships will submit their best deal directly into the platform for you to view and analyse immediately. Dealerships also need to advise a delivery timeframe. This means that within 24 hrs you will know the best price and which dealerships have your new car in stock ready for delivery.
- GET A QUOTE – Once you have the vehicle price use our online calculator to see how much you will save in tax and also exactly what your choice of car will cost you from your take home pay.
- THERE IS NO SUCH THING AS A STUPID QUESTION – The only way to understand where the saving come from and exactly how the process works is to ask lots of questions. For employees wanting a Novated Lease in Adelaide, we are a local SA owned and operated Salary Packaging company and we are here to answer all your questions. Every day we talk to SA employees either in person or over the phone. To get in touch either phone us on 8338 4427 or 1300 990 880 or complete the online enquiry form and we will call you back when it suits you. We are also free to meet either outside of work or at your workplace.
- GET YOUR FINANCE APPROVED – Once you are happy with the numbers get your finance approved. We can do this within 5 minutes over the phone or in person. Normal credit application criteria apply however a Novated Lease is always a little easier to get approved that normal car finance.
- SIGN THE DOCUMENTS AND COLLECT YOUR CAR – We come to you with all of the documents that you need to sign. We will go through every page in detail explaining everything in plain English. Once you are happy with the information sign where applicable and we will get your employer to co-sign the Novation Deed and settle the contract. Once settled you are free to pick up your car and your Salary Package will begin within the next few payroll cycles.