Find Out How Much You Can Save
We know that every person’s financial circumstances are different. You may be offered a novated lease for a new car by your employer, 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 lease 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 purchase a car through a novated lease. This agreement – between yourself, your employer, and 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 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 estimation 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, which the calculator uses 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.
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:
What is a Novated Lease?
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. Once the novated lease is in place, your employer is considered to be leasing the car.
This allows the car to be treated like a company car which provides you with significant income tax and GST savings. To maintain the novated lease, your employer deducts the regular payment from your salary, and them remits this amount to Easi to pay for the car running costs.
How Long is a Novated Lease?
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.
What Are the Benefits of a Novated Lease?
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 covered in one monthly payment
- Enjoy the convenience of cashless motoring.
- Take advantage of Easi negotiated discounts on everything from fuel to maintenance.
- Choose the vehicle you want to drive.
- 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).
How Can a Novated Lease Save Me Money?
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 on the purchase price or ongoing costs and discounted fleet pricing applies to all associated costs, saving you thousands.
An Easi novated lease allows you to purchase 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.
How Do I Set Up a Novated Lease?
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 your employer takes care of the payments through salary deductions.