You could save on a new car with a novated lease. A novated lease allows you to bundle car payments with eligible car-related costs. Payments are taken straight from your salary, and depending on your circumstances, you could receive potential tax savings that are traditionally offered by large companies to their employees.
How a novated lease works
)
)
A novated lease is more than just a way to finance your next car – it's a great way to potentially reduce your taxable income and provide potential tax benefits. With a novated lease, part of your car payments can be deducted from your pre-and post-tax salary. Which means you could benefit from tax savings by reducing your taxable income, depending on your circumstances.
Additionally, you may be eligible for GST savings on cars valued up to $69,674. Plus, as of 1 July 2024, with no upfront deposit required. If you are considering an electric car, may also be eligible for additional savings, thanks to government incentives like the EV Discount.
When you take out a novated lease for an eligible electric vehicle (i.e. EVs valued under $91, 387 as of July 1, 2024, first held and used after 1 July, 2022) lease payments may be made entirely with your pre-tax salary.
Additional benefits include:
Flexible lease terms from 1-5 years
Car payments and eligible car related costs bundled into one regular payment
Dedicated support from our novated leasing partner, Oly
What's included in the price?
Car Finance
Your regular car payments can be deducted from your salary with each pay cycle, making it simple and straight forward.
Registration
With Oly, your registration could be included in your regular payment, aiming to reduce the admin and stay on top of renewals.
Servicing
Keep your car in great shape with scheduled services that can be included in your payments. Oly can also connect you with a local mechanic if needed.
Fuel & Charging
Oly offers a fuel card for petrol drivers, and for electric vehicles, your charging costs can also be conveniently included as part of your lease.
Insurance
Bundle your car insurance into your regular payments with a novated lease, making it easy to manage.
Everything Else
Tyres, oil filters, roadside assistance, and even car washes could be included with a Oly novated lease.
Need an extra hand with understanding finance?
Questions?
We've got answers.
*Applications are subject to credit approval. Terms, conditions, fees and charges apply. Oly Pty Ltd ABN 69 674 252 629. Oly act as an authorised representative on behalf of a number of Australian financial services licensees. The capacity in which Oly acts and the financial services Oly are authorised to provide are set out in the financial services guides. Oly act as an agent for those licensees and not for you. Oly collects your personal information from you when you apply for a product and request any information from Oly, and we may use this information to contact you about Oly's products, services and offerings. To read more about how Oly handles your personal information, please read the privacy statement. Oly may pay and/or receive commissions in connection with its services.