Esanda Finance Novated Lease product is a three-way agreement between Esanda Finance, you and your employer. As the employee , you have responsibility for the vehicle and your employer arranges for the monthly payments to be made out of your pre-tax income.
- Terms range from 12 to 60 months
- Residuals are set according to the Australian Tax Office life and depreciation guidelines.
- Interest Rate is fixed for the term of the lease as are your rentals.
- Your can pay your lease via the convenient method of Direct Debit or BPay.
- Other costs associated with the purchase can be financed on the contract (like, Comprehensive Insurance, registration and on-road costs)
Benefits to the employee
- Payments can be structured to suit you individual needs, with your budget and cashflow taken into consideration.
- With fixed rentals you are protected against market fluctuations.
- Tax effective as payments are made from pre-tax earnings.
- Can be portable should you change employers.
Benefits to the employer
- If the employee leaves the company, the car is no longer your responsibility.
- Payments can be made easily via Direct Debit or Bpay.
- Can claim a tax deduction for the lease rentals.
- Low administration, responsibility extends to making the monthly payments.
GST and Stamp Duty
Novated Lease rentals are subject to GST as is the Residual Value. Rentals are also subject to Stamp Duty and (if applicable) Financial Institutions Duty.