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Not only that, but novated leasepayments include running costs such as insurance, servicing, fuelling or charging, tyres, and registration. Novated leasing usually reduces your tax obligations, but it’s considered a fringe benefit. Weekly payment (incl. There are a few more things to know about novated leasing.
Toyota Australia said it owns the vehicle throughout the entirety of the lease – with customers eligible to upgrade or re-extend their term. Toyota Australia has launched a subscription-style service – dubbed the ‘Full-Service Lease’ (FSL) – for its new electric vehicle, the BZ4X.
Making leasepayments before tax is deducted reduces your obligations by $3300 per annum or $16,500 over a five-year lease period. While five years is the period chosen in this example, generally novated lease providers let you opt for periods between one and five years. So, should you consider a novated lease?
A typical novated lease is offered for anything from one to five years, at the end of which you can choose to extend your lease, return the car back to the leasing company or make a final ‘balloon’ payment and buy the car outright. Because Aussies deserve car financing that is straightforward and hassle-free.
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