What can I package - Motor Vehicle Lease

Novated Motor Vehicle Leasing:

Salary Options can arrange fully maintained leasing for chosen vehicles on the behalf of eligible employees. Novated leasing allows you to pay for part of the financing and running costs of your car with pre-tax dollars.
Contact Salary Options to see if this service fits your lifestyle.

How a novated lease works

• The employee chooses a car.
• The employee then novates the lease to their employer, who assumes all the employee's rights and obligations under the lease, including responsibility of meeting the lease rentals.
• The contract is in the name of the employee who remains the registered owner throughout the lease and keeps effective control of the vehicle at all times.
• If the employee leaves the company, the vehicle remains with the employee. In this situation the employee takes over the payments or gets another employer to make the payments. The original employer is not left with an unwanted car and the employee keeps the vehicle.

Benefits for employees

• Use of the vehicle without having to budget for the repayments.
• Option to buy the vehicle without a deposit or the hassle of being reimbursed from your employer.
• Complete choice about what car you buy and where you buy it from.
• Retain the car even if changing employment.

Benefits for employers

• If the employee leaves, the company is not left with an unwanted car.
• The employer can provide an employee with a car, without the need to reflect this on their balance sheet.