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Car Employee Vehicle Contribution

Car Employee Contribution

Ever wondered why novated leases are so popular? It’s because a novated lease can save you thousands of dollars in tax. Simple as that.

By salary sacrificing your new car, you can deduct the car’s repayments and running costs from your pre-tax salary. This reduces your taxable income, meaning you pay less tax.

What is a novated lease?

A novated lease is a three-way arrangement between an employer, an employee and a finance company. The finance company buys the car on your behalf and your employer pays them a monthly amount from your pre-tax salary.

At the end of the lease period, you can either:

  • Sell the car and keep any tax-free profit
  • Buy the car for its residual value
  • Extend the lease with a lower repayment
  • Trade it in when you lease your new car

Why choose a Prosperion novated lease?

  • Save thousands – paying for your car via salary packaging means that you pay with pre-tax dollars, reducing your taxable income.
  • Convenience – a simple monthly payment covers all your costs including finance repayments, fuel, maintenance, insurance and registration.
  • Preserve your cash flow – taking out a novated lease means you don’t need to tie up your cash in a deposit or an outright purchase.
  • New car discounts – our bulk buying power and established relationships with suppliers, mean that you enjoy substantial discounts on a range of new cars.
  • Expert knowledge and research – we help you choose the perfect car for your needs based on running costs, fuel economy and re-sale value.
  • Redundancy insurance – if the unthinkable happens, redundancy insurance ensures that you won’t be left with a debt burden. Talk to us for more details on this option.

So if you’d like to save thousands on your next car, call or email