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Subaru Novated Leases
It ain’t just a quiet achiever, Subaru makes some of the most reliable cars on the market today. If you’re keen to drive a Subaru but you’re unsure how to finance it, a novated lease could be the solution.
Read on to find out more about how novated leases work, the fantastic benefits that they provide and how Clear Lease can make your Subaru dreams a reality.
What is a Subaru Novated Lease?
A novated lease is an agreement where a company employee finances a vehicle through a form of salary packaging. Every pay cycle, your employer deducts a fixed amount from your salary, which goes towards the cost of the car and typically it also covers the insurance, rego and maintenance costs.
The big benefit of novated leasing is that the payments are taken from your pre-tax income, reducing your taxable earnings and saving a load of cash in the process.
But it gets better. Since everything is taken care of by your employer, there’s no chance of copping any late payment fees. Additionally, you don’t pay GST on the car, which is an instant saving. If you’re looking for a cost-effective way to finance your dream Subaru, then there really is no better option than a novated lease.
So, what happens when the novated lease contract finishes? Well, you’ll have the choice of paying off the residual amount outlined by the ATO to own the vehicle outright or you can refinance the residual over a new term as a chattel mortgage. If you decide to continue with your novated lease, we can refinance the residual and carry on with a new novated contract over a new term.
Here’s a quick breakdown of some of the other awesome benefits of a novated lease:
- Reduce the amount of tax you pay
- You don’t pay GST on the purchase price of the vehicle, saving you thousands
- No deposit needed on cars financed with a novated lease
- Discounted fuel, maintenance and insurance. Due to the volume of vehicles we manage, we have negotiated discounted services to save our clients even more money.
- There are a variety of finance terms to match your income and lifestyle – you’re unlikely to find a more flexible leasing model on the market
- Everything can be covered in one easy payment – no unexpected bills sneaking up on you. Your lease repayment expenses are budgeted and broken down to suit your usual payroll cycle.
- We can help you source the car of your dreams at a discounted rate so you can drive a brand new car for less.
Drive the car you want without compromising your lifestyle
Big monthly payments and hefty running costs can be a real drain on your disposable income. Since a novated lease helps you get more buck for your buck, you’ll be able to put that money you save aside for something you really want. And with everything covered, you’ll never have to worry about an expensive breakdown. Instead, you can truly appreciate the experience of driving your brand new Subaru.
Costs associated with leasing a Subaru
The novated payment will directly finance the cost of the vehicle, as well as the insurance, operational and maintenance extras you choose to include in the contract. Transparency is a word that we live by at Clear Lease – every payment made will be crystal clear and you’ll never get stung by any sneaky charges.
Since the cost of the car, maintenance, and operational costs are spread evenly across the length of your lease, you wont get caught out falling short on those pesky bills that crop up throughout the year. Our team create an accurate budget and manage all of your payments to service providers on your behalf. Novated leasing provides a number of benefits to help make your money work smarter, many people even find that they can afford cars on a novated lease that they wouldn’t be able to otherwise.
Servicing & Roadside Assistance
Whether you’re looking for a fully maintained novated lease that covers all of your expenses or would prefer to take care of these expenses with your post-tax income, you can guarantee that Clear Lease will be able to accommodate your wishes. You’ll be in the drivers seat – you decide exactly what you’d like to include in your novated lease.
For most people, going for a fully maintained novated lease tends to work out as the cheaper option. With this, you’ll get insurance, servicing and more bundled into your repayments. Customers who choose to include insurance in their lease package will also have access to roadside assistance for the duration of their contract.
Fees and Charges
We will add a small monthly management fee to the customer’s monthly payments. Unlike some other leasing companies, we will never hide this charge away in your lease package. Instead, everything will be transparent and you’ll know the precise breakdowns of your payments. The nominal figure charged is calculated when we provide your quote so where your money is going is clear.
Keeping a car full of fuel and free of any mechanical problems can get expensive very quickly. At Clear Lease, you’ll have the option of including some or all of the running costs within your payments. Here are a few of the costs that you can choose to bundle in your plan:
- Car registration
- Insurance premiums
- Fuel costs
- Servicing & maintenance
- Regular car washing
These running costs are managed for you by our team at Clear Lease and you’ll be able to see exactly what your money is going towards. For example, fuel costs are managed via your fuel card, which allows easy tracking of your expenses. Statements of expenses are issued regularly and our systems ensure your accounts are paid on time every time.
If you ask us, novated leasing is by far the best and most cost-effective way to get a new car. The number of benefits that novated leasing offers is just too hard to ignore – you’ll save a bucket load on tax, have your insurance and maintenance included and you have the option to buy the car at the end of the lease by paying out or refinancing the residual.
Thanks to these advantages, many people can afford cars on a novated lease that they wouldn’t be able to otherwise drive. For an accurate breakdown of the costs associated with novated leasing a Subaru, be sure to check out our car leasing calculator.
As every customer’s needs are different, every novated lease will be different too. The cost to lease the Forrester model will differ depending on the inclusions you want, the price negotiated, estimated kilometres you expect to drive per annum and which maintenance and operational inclusions you wish to include within your lease. Another factor is the loan term and the ATO balloon amount.
Of course, Clear Lease will help you through every step of the process and work hard to get you the best price we can! Check out our car leasing calculator to get a more accurate cost.