Mitsubishi Novated Leases

Want to score yourself a brand new Mitzy without getting slugged with bills you can’t afford? If you want a great new little ride without the stress of managing loan repayments and dipping into your savings account, a novated lease is the way to go.

How does a Novated Lease work?

Get your brand spanking new Mitsubishi through a novated lease and you can get that new car you want without any stress. Since the cost is already covered through salary packaging, you’ll never have to worry about making repayments. Plus, the operational and maintenance costs of the vehicle are included too. Nice!

The agreed payment will be deducted from your weekly, fortnightly, or monthly pay cycle by your employer on your behalf. The best part is that the expenses are taken from your pre-tax income, so you’ll save a tonne of tax dollars. In other great tax saving news, you won’t have to pay GST on the vehicle, so there’s even more bucks back in your pocket.

Novated leases are extremely flexible and can be tailored around different incomes and lifestyles with ease. As a part of your contract, the ATO will determine the residual that will be due on the vehicle at the end of the term. You have a few options here – you can pay the residual out and own the vehicle, you can refinance the residual into a new loan contract or re-establish your novated lease for another term. In all of these cases, you’ve got the ability to make big savings when compared to other non-novated finance options.

Here’s selection of other amazing benefits you can enjoy with Clear Lease:

  • We can help you source the car of your dreams at a discounted rate
  • Discounted insurance, maintenance and fuel. Thanks to the large number of vehicles that we manage, we’ve established excellent relationships with fuel and maintenance providers across Australia.
  • No GST paid on the purchase price of the car
  • No more unexpected bills catching you off guard – everything can be covered in your contract
  • Our team manage all of the paperwork so you can focus on more important things
  • Reduce your taxable income.
  • Easily upgrade your car or re-finance your balloon at the end of the term
  • Move your novated lease over if you change employers, without fuss

Drive the car you want without compromising your lifestyle

When you choose to go down the novated lease route, you’ll have the option of some of Mitsubishi’s most popular and newest models. In some cases, customers will be able to lease a car that they might not have otherwise been able to finance. This is due to the no deposit policy for Novated Lease contracts and the fact you don’t pay GST on the purchase price of the vehicle..

Customers will have access to a range of Mitsubishi vehicles including the ultra-new Eclipse Cross model, the practical Outlander and the ever-popular Mirage. Whether you need a car to get to work, a vehicle for travelling or something for the family, you can be sure there’s something for you with a Mitsubishi novated lease.

The costs associated with a Mitsubishi novated lease

With a Mitsubishi novated lease, the payment that will be taken out of this type of salary packaging depends on a number of factors. Some of these include the price of the vehicle, the lease term, and balloon size (outlined by the ATO) and which vehicle expenses you wish to bundle into your contract.

The payments are made on your behalf from your pre tax income by your employer, paid to Clear Lease who then manage the payment to your lender. Surplus funds that have been allocated for your annual vehicle expenses are set aside ready for use when your vehicle maintenance and operational accounts are due.

No matter what contract you choose, you can enjoy the benefit of being backed by our team of Novated experts at Clear Lease. We’re here to make life easy for you.

Servicing & Roadside Assistance

Keeping your car in tip top condition is essential to ensure it’s running safely and efficiently. Customers on a novated loan scheme will have access to a huge support network, where they can easily book in services, get their vehicles repaired and arrange roadside assistance.

We offer a fully maintained novated lease and a non-maintained novated lease. By taking out a fully maintained lease, all of your maintenance and operational expenses will be automatically covered. We can even include roadside assistance and car washing too! If you’d prefer to sort the maintenance yourself, then the non-maintained lease is the way to go – at Clear Lease, the customer always has the final say.

Fees and Charges

When you take out a novated loan with Clear Lease, there are never any hidden fees or charges. Everything will be made completely transparent and you’ll understand exactly how the fixed repayments work – including any Fringe Benefit Tax implications.

We charge a small monthly fee for our services, which will be included in your payment plan. As always, this fee will be fully clear to you before you commit to a contract and is easily made back with the huge savings you make opting for a novated lease.

Running Costs:

When you set up your novated lease, you’ll have the option to include the running costs of your vehicle in the novated finance package. These running costs can include:

  • Car registration
  • Insurance premiums
  • Fuel costs (managed via a fuel card)
  • Servicing & maintenance
  • Tyres
  • Regular car washing
  • Road side assistance

For all these operational costs, you’ll have access to some great discounts that we’ve negotiated with our partners.

FAQs

The Mitsubishi Mirage is the cheapest Mitsubishi on the market at the moment. The amount you pay will depend on factors such as the age of the vehicle, loan term, the ATO residual amount, specs and the expenses that you decide to include in the contract.

If you’d like to get receive an accurate estimate of your costs then be sure to take a look at our car leasing calculator.

If you purchase a Mitsubishi car through a novated lease, your payments will be taken from your pre-tax income. As a result, your taxable income will be reduced, saving you a bucket load of cash!

You also don’t have to pay GST on the purchase price of the vehicle, which is another huge saving.

A novated lease is a three-way agreement between you, your employer and Clear Lease. You sign a finance lease with us to allow our team to manage the payments for your vehicle on your behalf. From there, you’ll sign a novation agreement, this document is used to transfer some of your lease responsibilities to your employer, often managed by their payroll department.

After the novation agreement is signed, your employers business becomes the entity leasing the car. This means your car will be treated as a company car, which then offers significant GST and income tax savings to you. You can still of course use the vehicle for personal use, however there are some Fringe Benefit tax implications that our team will talk you through. This is normally a nominal amount depending on the amount of personal use and we can manage this easily with the Employee Contribution Method.

Your employer is then responsible for maintaining your novated lease by deducting a regular payment from your salary from your pre tax wage. They then send this repayment amount to Clear Lease so our team can pay for your vehicles expenses and operational costs on your behalf. Our team will keep an eye on your expenses and driving habits (ie, driving significantly more kms than budgeted) to make sure your lease budget is kept in check.