Novated Lease Calculator: Novated Lease Calculator Salary Packaging
A novated lease calculator can indicate how much savings could be possible if you are contemplating getting a car through a novated lease arrangement. A novated lease calculator can provide an estimate as well.
Novated leases enable you to salary package your car and its running costs – fuel, servicing, tyres and registration – directly out of your pre-tax income for maximum tax savings. This approach could lead to substantial tax savings.
How do I use the calculator?
Use our user-friendly novated lease calculator to figure out your monthly budget quickly. It’s invaluable before meeting with an in-house beancounter or beginning the shopping process.
Novated leasing is an arrangement between you, your employer and Clear Lease that allows you to salary sacrifice the purchase of a car and its ongoing running costs (fuel/electricity bills, scheduled services/tyre maintenance/rego/insurance premiums, etc). By doing this, you can reduce income tax through pre-tax deductions and receive GST-free vehicle running costs.
Our novated lease calculator will provide a thorough breakdown of all costs to avoid surprises and show how you could save money compared to financing your car through traditional means. Your details are secure and will only be used to estimate payments; a consultant can then contact you to answer questions and give a quote.
What information do I need to enter?
When calculating potential novated lease repayments, this calculator considers several critical factors, including your annual salary (before taxes), car type desired to novate and number of kilometres driven annually.
Novated leases offer many advantages, including keeping monthly outgoings to a minimum and increasing savings potential. They bundle together running costs such as petrol or electricity usage, servicing, tyre replacement and roadside assistance into one monthly payment – helping keep costs at bay and maximise savings potential.
Novated leasing arrangements often include comprehensive car insurance for the first year that can be financed, so employees don’t need to find all of the cash upfront. Furthermore, this may make their motoring expenses GST-free, further lowering costs.
How accurate is the calculator?
Calculating your potential car payments is critical when deciding to get a novated lease agreement and understanding what exactly is included or excluded in any quoted package.
Novated lease agreements are agreements between you, your employer and a financier where part of your salary goes directly towards paying for the vehicle and its running costs. It can help lower taxable income levels and increase disposable funds while giving you greater vehicle selection options.
Utilising a novated lease calculator is an easy and quick way to determine if novated leasing makes sense for you and how much it could save. A full quotation and package must be tailored specifically to each person’s situation – please reach out so that one of our leasing specialists can assist.
Are there any hidden costs?
Novated leasing can be an attractive way of purchasing your next car, but like any transaction, it contains hidden costs that must be carefully evaluated. These may include fuel, insurance and running costs. A reliable novated lease provider should outline these upfront and be able to demonstrate how they compare with standard car loans.
One of the critical advantages of choosing a novated lease is tax savings. All payments and expenses come directly from your salary before being subject to taxes – giving you greater tax savings than traditional loans. A novated lease calculator can help you see all this clearly and find an option tailored to your needs quickly and effortlessly – input some basic info!
A novated lease is a three-party agreement between a staff member, their employer and a financier where the staff member pays for their car via salary sacrifice rather than directly out of their after-tax money. The agreement typically lasts one to five years and can be taken with you if you leave your employer during that time, subject to your new employer’s approval.