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As reported by our colleagues at CarExpert , the novated lease is a three-way agreement between the lease, their employer, and a finance or leasing company. In short, the leasepayments are automatically deducted from one’s salary, which is why the employer is involved with the deal.
Understanding the interplay between leasing and gap coverage is crucial to preventing potential financial setbacks in the unfortunate event of a total loss. What is Vehicle Leasing? Leasing a vehicle involves an agreement where you pay for the use of a vehicle over a specified term, usually between 2 to 5 years.
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