Buying a car in Australia with full down payment is almost out of reach for salaried employees. But cheer up, you have got good news.
Novated lease Australia is opening up for you a unique way by which you can avail the cost of a brand new car at a cheap lease rate. And the most interesting feature is that the procedure is transparent and hassle free.
This is a tripartite agreement between the leasing company, the employer and the employee. In clearer terms, the finance company arranges the finance to the employee with the provision of getting the installment payment from the salary the employee h0gets from the employer. This is applicable for obtaining a loan for any vehicle.
As soon as, within the lease period, he ceases to be an employee of that particular company, the arrangement becomes null and void. Even though he can continue to possess the vehicle, all liabilities are to be paid by him. All legal actions, interest, and penalties shall be his responsibilities.
Novated lease in Australia via Lease Express is the best way to get most competitive and reasonable vehicle finance. Also Lease Express can assist you with routine car maintenance, besides keeping the car in a well-oiled condition. You can avoid the hassles of the vehicle getting stuck due to ill maintenance. That includes the full car body part checkup including brakes, electrical defects, etc.
Essentially the employees are get benefitted by availing GST-free installments. Besides you can avail cars of your choice. Either the employees can retain the vehicle under new leasing contract, or the company can transfer to another employee.
On the other hand, the company will benefit by salary hike indirectly. Also, the company faces any risk as the vehicle can be transferred to another employee without entering the book of accounts.