When you’re in the market for a vehicle, you’ve got several financing options. However, two of the most popular are novated leases and personal loans. The differences between the two can seem minimal at times, but there are several key changes that we think make novated leasing the ideal option for anyone who wants to get on the road for less.
The first and foremost benefit of novated leasing over a personal loan is how much you pay up front. For starters, you get 10 per cent off the purchase price of a vehicle and don’t have to pay GST.
It’s a great way to access vehicles that you might not otherwise have been able to fit into your budget, potentially savings you thousands of dollars.
It isn’t just upfront payments where you save money either. With a novated lease at Alliance Leasing, you can actually cut a further 15 per cent when it comes to our exclusive maintenance program. This keeps your vehicle in top shape for the long run, all while saving you money.
By paying for the vehicle before you pay tax, you consistently make savings
This is actually on top of the initial 10 per cent discount as well. By paying for the vehicle before you pay tax, you consistently make savings. What’s not to like?
Nobody likes getting bill shock, but it still happens to a lot of Australians – but not those who use a novated lease to buy a car. All of your costs come under one payment, most of which is made before you pay your tax. At Alliance Leasing, we pride ourselves on transparency and making sure you know exactly what you’re spending on, and where it goes.
It gives you more budgeting power, letting you get on with life and putting your money towards anything you want.
Taking care of business… and pleasure
One of the most common myths about novated leasing is that you have to drive the car a certain distance to get the benefits, or can only use it for work purposes. However, like with a personal loan, you can actually use the vehicle for whatever you want.
It’s your car to do with as you please, and we’re happy to help you get on the road. Want to find out more and see a comparison between buying with a personal loan and a novated lease? Check out our infographic below!