All individuals, corporations and government agencies get:
Total Estimated Saving:
WITH NOVATED LEASE
Drive Away Price
Cash In Hand
WITHOUT NOVATED LEASE
Drive Away Price
Cash In Hand
*Terms & Conditions Apply: Our calculator will only give you an estimate of the benefits of a novated lease.
Novated Lease Calculator
For over a decade ALP has been helping Australian employees at getting the best Novated Lease deals. Our service depends on giving our clients the best rates, a fast and easy process, expert assistance, and the freedom to choose the most suitable Novated Lease package. With us, you can go from dreaming about your new car, to owning it through a swift and simple deal; without even having to contact a call centre.
With our Novated Lease calculator, you need to specify the cost of your vehicle, your estimated mileage, your annual salary, and the number of years you want to take your lease. From there you can assess your after-tax savings and compare your drive-away price with, and without a Novated Lease.
When you are ready to calculate your Novated Lease, fill out the online form and an ALP consultant will get in touch with you to advise you, and answer questions you may have.
What Is a Novated Lease?
A Novated Lease is a lease which is an agreement between you, a financer, and your employer. Your employer will pay for all the nominated running costs from your pre-tax income at regular pay intervals. At the end of the lease period, you are liable for the residual in order to take ownership of the car. You have the option to refinance the residual amount. Your other option is to trade in or private sell your car and use the proceeds to pay toward the residual amount and keep any remaining proceeds.
Why You Want a Novated Lease
A Novated Lease is a great way to save money on tax because the cost of your lease is deducted directly from your pre-tax salary and reduce your taxable income. This way you can apply fringe benefits tax to the Novated Lease on your car because it is part of your benefits. You can choose which method you want to calculate your fringe benefits tax based on whether you will use the car more for business or for personal use. On top of the income tax savings, you will also benefit from GST savings on the purchase price of the vehicle.
What Costs Are Covered?
ALP’s quotes include all your usual running costs as well as the finance repayment, this way, the quote you receive is the total cost of your car inclusive of your fuel, tyres, maintenance and servicing; even your insurance and roadside assist costs are included. Your quote will show the impact your lease will have on your take-home salary.
What Do You Need From Your Employer?
Some employers don’t offer novated lease to their employees, although they may make an exception.
Your first step is to find out whether your employer offers novated lease. From there we will assist you at tailoring the most suitable car and finance package and present to you in the form of Novated Lease Proposal, once you have confirmed and signed and return the novated lease proposal along with your two current payslips, your driver’s licence, and your employment contract. We will then email and ask your employer’s HR department to sign the Deed of Novation. With ALP, your application process is simple and swift.