Nonvated leases allow for the employee to source a vehicle and have it paid through their pre-tax pay. The lease obligation ultimately vests with the employee but the payments are managed by the employer.
Advantages of nonvated leases:
Provides incentive for employee
Removes risk for vehicle i.e if employee leaves they take lease obligation with them
Choice of car
Salary packaging service for employee
No equipment or underlying lease risk
Packaging and online
FBT reporting available Income tax savings
GST savings on car
Car moves with you to your next employer
Unrestricted private use
Businesses that use novated leases
Businesses who have a current equipment lease and need a ‘like for like’ replacement.
LeaseIt is a free Australian lease finance service. With Leaseit you have a simple comprehensive matching service that can help you identify your requirements and source the best leasing product and rate for your individual circumstances.
You can now simply check which products are available from Australia’s leasing providers or calculate your rates and repayments from our easy to use rate calculator. From here our team will guide you along the way and set you up with a hassle free lease.
Leaseit offers finance for car leases, truck and trailer leases, plant and machinery leases, software and IT leases, office and audio visual equipment rental and more. We offer low doc car financing to get you on the road quickly.