When buying your first car, there is no better way of financing the project than considering the novated lease deals. Of course, this does not apply to people who wish to buy in cash – buying in cash is without a doubt the ideal way to buy a new vehicle. However, if you do not have the patience to wait until you save thousands of dollars to buy your dream car, then a novated car lease deal becomes a viable option. But what makes novated lease the ideal way to own a vehicle?
Well, compared to other financing options, for example, bank loans and car loans, a novated lease deal offer more benefits. To start with, since the deductions are before tax, the car owner gets to take home more money. It is different when it comes to car loan and bank loans. Another reason to go for a novated lease deal is that the total cost or running the car is inclusive. It means that there will be no issues with insurance, registration, fuel, repair and maintenance, towing services, etc. as they already figured them into the lease. With this deal, it means that your car will never stall for any reason. It sorts and figures into the account, all the running costs. One more great benefit is that you can easily switch employers without breaching the contract. It is different from other car financing options.
To understand more about this car financing option, you can make use of the novated car lease calculator. It is an online calculator that will help you understand how novated lease deals work. What do I mean by this? Well, before getting into such an arrangement, I am sure you would want to know how much you will be saving or what makes novated easing different from car loan and bank financing. A novated lease calculator will require you to enter some information, for example, your annual salary, the repayment period, the type of car you want as well as the cost and other critical information like your estimated average yearly mileage. With this info, the calculator will then show you all the information you need to know. For example, you will know which cars you can afford, you will know your savings, and you can easily compare that with what with other car financing options.
With the information from the calculator, you can then make a solid decision regarding the car to buy, the repayment period, etc. The best thing about novated car lease calculator is that it is online-based and will never ask for personal information, for example, your name or where you work. Also, the information you will enter is end-user encrypted which mean that only you can see the data. The calculator is also easy to use and will help you understand all the nitty-gritty of novated lease. From there, you can then contact the car leasing company and make arrangements for you to get your new or used car.