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How a novated lease could put cash back into your pocket

Drive.com

Between fuel, registration, insurance, servicing, tyres and other bills, keeping your car on the road can be a lot to manage separately. A novated lease makes life easier by bundling the car payment itself with all these expenses into one automatic payment taken directly from your pay.

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2024 Skoda Kamiq Run-Out review

Drive.com

When estimated to equal terms – a four-year finance term, zero deposit, 15,000km annual allowance, and an equal balloon payment, where possible to set it on each brand’s website – the Kamiq costs $120 per week (at a 6.99 Insurance estimates may vary based on your location, driving history, and personal circumstances.

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What is novated leasing, and how does it work?

CarExpert

This means payments are bundled with running costs such as insurance, servicing, fuelling or charging, tyres, and registration. It also means the costs are part of your salary sacrificed payments, boosting the tax benefit. A single payment at predictable intervals, with no surprise rego or insurance bills.

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Is buying an electric car on a novated lease worth it?

Drive.com

This includes everything, such as petrol or recharging, registration, insurance, tyres and servicing. All these various costs are rolled into a single regular payment that is deducted from your payslip. Novated lease terms are usually between one and five years. Then you can sign a new novated lease on a new car.

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