Is Novated Leasing for Used Cars as well?

There are a few enduring myths in the novated leasing world. That you need to be on a big income. That you need to drive lots of kilometres. That you can only lease a car for business use.

And then there’s probably the biggest misunderstanding: that you can only take out a novated lease on a new car.

Naturally, new cars don’t fit in with everyone’s budget – and that’s why many RemServ customers enjoy the tax benefits and convenience of leasing a used vehicle.

There are a few things to consider. The car should, as a general rule, be no older than 12 years at the end of the lease term. You should ask about your employer’s novated leasing policy, as some companies have a specific list of cars available to employees.

Additionally, vehicles designed to carry one tonne or more, and/or nine passengers or more, cannot be leased.

But wait – there’s a third option for leasing a car. If you’re happy with your current car, you could salary package its running costs under a Sale and Leaseback arrangement. Here you’d pay out any existing finance agreement, or receive cash from any equity you have in the car, and lease it back through RemServ and enjoy all the perks of a novated lease.

But regardless of whether you lease a new, used or current car, you could be better off through novated leasing!

Learn more about the flexibility and benefits of a novated lease through RemServ. Or get in touch today.