FAQ's

LeasePLUS has an extensive network of over 200 dealers across Australia. The purchasing power generated from this network helps to ensure that the price of your next new vehicle is the most competitive in Australia.

The Australian Tax Office dictates the types of vehicles that can be leased through a novated car lease agreement. Essentially, most cars, wagons, coupes and four-wheel drives are eligible. For example a Toyota Land Cruiser is not available. In addition, boats, caravans, trucks and other commercial vehicles including some utilities are not acceptable. Some employers may also have their own restrictions on vehicle choices.

There is no distinction between private or business use for novated car lease. In general, novated car leases are better suited for individuals with mainly private usage needs. Why is this? What about if the company is paying all costs as part of the salary package?

A vehicle under a novated car lease is regarded as a private car therefore the lease holder determines who can drive the vehicle. Please ensure you are aware of the insurance implications and are covered when family members or friends are driving the vehicle.

LeasePLUS sources finance from a number of financial institutions to ensure that the best possible rate is utilised with your lease. LeasePLUS is independent from all financial institutions therefore it does not favour any one particular provider. This independence ensures we get the best interest rate for you.

Lease terms can be between 1 and 5 years. The most common lease terms are 3, 4 or 5 years. A lease can always be extended after the completion of the initial lease term and can be rolled over for another 1 or more years.

Finance approval usually takes 30 minutes. Provided the vehicle is available at the dealership and the lease contracts are correctly signed the vehicle can be made available to the driver within 2 working days. We use the latest in technology throughout the approval and ordering stages to ensure there are no unnecessary delays.

Setting up a novated car lease is very simple. Often the only requirements are a current driver's licence, a current pay slip from your employer and a clear credit reference (CRAA).

This is a scenario you need to consider as sometimes employees choose to change employers. Once you recommence with your new employer the novated car lease agreement can be re-established without any disruption to the policy provided your new employer agrees.

LeasePLUS provides its clients with online access to their operating account. This online system provides statements, reports and other useful tools to analyse car expenses and you always know when your account is in credit.

The residual is the final balloon payment on the lease, generally due one month after the final lease payment. At the end of the lease you have a number of options:

• You can pay out the residual and own the vehicle;
• You can sell the vehicle and with the proceeds pay the residual. You can keep the difference between sale price and the residual payment. If there is a negative difference you will need to pay the difference yourself;
• You can re-lease or extend the lease to cover another period of your choice under the same novated car leasing policy;

LeasePLUS encourages its customers to choose their own insurance and road- side assist policies which we will pay on your behalf as part of the novated car lease policy. We can also arrange these policies for you through our own excellent service providers.

The Australian Taxation Office guidelines state that tolls, parking and infringement fines are not eligible to be part of a novated car lease.

The level of tax benefit depends on 3 main factors:

• Level of gross annual income – the higher the income the greater the level of tax benefit;
• The purchase price of the car – the higher the cost of the car, the higher the cost of the total novated car lease policy therefore the greater the tax benefit;
• Annual kilometres – The more kilometres you drive the higher the tax benefit.

To get an obligation free quote please call our office on 1300 13 13 16 or simply visit the car showroom on our website and send us your quote request online.