Novated Lease Calculator
Find out how much you can save
A novated lease lets you lease a car using pre-tax earnings, offering potential savings on taxes, GST, and vehicle costs. Use our Easi calculator to see how much you could save based on your chosen vehicle and to get started paying less tax.
Understanding your novated lease saving potentials
We know that every person’s financial circumstances are different. You may be offered a novated lease for a new car by your manager, however, it can sometimes be difficult to determine how much the car pricing will affect your annual salary and tax savings. You can boost your own personal taxation advice in this regard by using a novated leasing calculator.
The Easi novated lease calculator aims to help you by providing a list of vehicles offered in Australia and calculating the impact on your take-home pay if you buy a car through a novated lease. This agreement – between yourself, your employer, and the financier – can result in thousands of dollars of potential tax savings compared to other vehicle finance solutions.
How does a novated lease calculator work?
The novated lease calculator is a reliable tool that calculates an estimate of the net cost of your car on a weekly or monthly basis after all tax and other deductions have been made.
The Easi novated lease calculator will provide you with an estimate of your savings per year and cost per fortnight. You’ll need to consider the make and model of the car you wish to lease, the calculation is made using the Recommended Retail Price (RRP) of the car as a guide.
Using our buying power, you can provide thousands of annual savings in discounts when purchasing a car. In addition, if you are using a novated lease, you will also save the GST on the purchase price.
Our calculator uses manufacturer data to build a budget for running your fully maintained novated lease, based on the distance you travel and the term of the lease. When selecting an electric vehicle, charging will automatically be included in the running costs.
Get your novated lease sorted With Easi
Our calculator is free to use, with no obligations. Whether you’re in Perth, Melbourne, Sydney, Brisbane, Canberra or Darwin we’ll be able to provide a discounted quote using Easi bulk buying power. Get in touch today!
Frequently Asked Questions
To put it simply, a novated lease is a type of car lease in which you are allowed to make your vehicle payments out of your pre-tax earnings, saving you money. It’s a three-way agreement between you, your employer, and a finance company.
This allows the car to be treated like a company car which provides you with significant income tax and GST savings. To maintain the lease, your payroll team will deduct the regular payment from your salary and then remit this amount to Easi to pay for the car and it’s running cost budgets.
A novated lease typically lasts between 12 to 60 months, after which you can either trade the vehicle in for a new one, refinance and keep it, or buy out the remaining total cost. The most popular lease term is 48 months. It will depend largely on your personal circumstances on how long you’ll want your lease payments to last on your new car.
More and more workers are using salary packaging for novated leasing due to the tax benefits – here is a list of some of the best benefits they provide:
- Save on tax through pre-and-post-tax salary deductions.
- Forget about keeping receipts or logbooks.
- Budget easily with your car expenses and running costs covered in one monthly payment, including comprehensive insurance, fuel, servicing, and more.
- Enjoy the convenience of cashless motoring.
- Choose the new car you want to drive at a great price.
- At the end of the lease, take advantage of any surplus between the market value and the residual value of your vehicle (plus GST – conditions apply).
In a novated lease, repayments are made from pre-tax salary dollars resulting in a significant tax saving over the life of the lease. GST does not apply to the purchase cost or ongoing expenses plus discounted fleet pricing applies to all associated costs, saving you thousands.
An Easi novated lease allows you to buy any vehicle at GST-free prices and Easi’s extensive buying power and financial services enable us to source vehicles at heavily discounted fleet prices. Use these advantages to assess whether this is an affordable option for you and how much you could save on cars.
We have a team of experts on hand to make setting up your novated lease easy. Start by choosing the car you want and making sure your employer is on board (we can help with this). Then decide on a term that suits you – anywhere from 12 to 60 months is a typical arrangement.
We will set up a three-way novated lease arrangement between Easi, you, and your employer. Then you can simply enjoy the benefits while the business you work for takes care of the payments through salary deductions.
