It’s smart its simple
and it saves your money With
Your dedicated consultant are here to help you save on your next car or even your existing car.
Step by Step Guide
What is a novated lease?
A novated lease is an agreement between you, your employer and a financier which allows you to use your pre-tax dollars to pay for your car and its running costs.
How Novated Leasing
Works For Employees?
The friendly team at OptIn can assist with narrowing your search for the right vehicle, arrange for hassle free test drive’s and secure fleet pricing through OptIn Australia’s national buying power. If you are not in the market for a new car we can still assist with any used or existing vehicle’s
We will provide you with your very own personalised quote that considers the running costs you expect to occur while leasing the vehicle like fuel/charging, insurance, registration, maintenance and tyres. If you ever don’t spend what has been allocated for these running costs the difference is returned to you via payroll.
Once you are happy with the numbers OptIn will take care of the rest and prepare your lease documents, sign off by your employer and lease deductions to take place after you take delivery of your vehicle.
You drive the car and enjoy the benefits. Lease payments and running costs are deducted from salary, which lowers your taxable income and increases your take home pay
All running costs are bundled into one simple deduction. If you ever want to see how you are tracking against what has been budgeted you can log in to your driver portal at any time. In addition, our friendly team will be monitoring your account and will provide tips along the way to help maximising your tax savings.
At the end of the lease you typically have three main options;
- Pay off the residual and own the car outright
- Extend the lease to continue the tax savings with your existing car
- Sell your car and use the proceeds to pay off the residual and upgrade to a newer car.
Option 3 tends to be the most popular as if you sell the car from more than the residual the difference is yours to keep tax free. In addition, you can move
into a newer car with potentially lower maintenance costs and warranty covered car.
Find Your Next Dream Car
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
– Per Week
How Novated Leasing
Benefits Employees?
Tax Effective
As you are using your pre-tax salary to pay for your car and its running costs, this can reduce your taxable income and you may end up paying less tax.
New, used or existing
We’ll help you find a car that suits your budget.
Save on GST
Save GST on the purchase price of the car and the vehicle’s running cost and repayments.
Easy budgeting
As your novated lease deductions include your running costs you can say goodbye to getting surprised by your next service or insurance bill.
Access to fleet discounts
Lean on our national buying power to get access to fleet pricing.
Dedicated individual support for the life of your lease
OptIn will provide your own dedicated consultant for the life of your lease to help you every step of the way.
Contact Us
Why Offer Novated Leasing?
Employee retention
Offering a novated lease program could help your employees save thousands in tax each year, improving your employee’s financial wellbeing.
Payroll tax
A novated leasing program could potentially save your business thousands in payroll tax each year.
De-fleeting
Novated leasing could be a great alternative to providing a company vehicle. This could reduce costs for the business, and free up some needed space on the balance sheet.
Why Optin?
Matched to Payroll
All deductions are synchronised and uploaded to your regular payroll.
No FBT
OptIn manages the novated leasing program to ensure there is no FBT payable for the employer.
Customer support
We provide employers and staff a dedicated team member to assist at all stages of the process.
Our Top Monthly Deals
Checkout the latest monthly deals on all of your favourite vehicles in fraction of seconds. Tell us about which you love the most?
frequently asked question
Answer:
A novated lease is a three-way agreement between you, your employer, and a lender. It allows you to pay for the car and its running costs from your pre-tax salary which can reduce your taxable income and potentially save you thousands in comparison to owning the car outright.
Answer:
- You choose your car and OptIn can source the vehicle to ensure you obtain the best price.
- We create a budget for all of your running costs like fuel/charging, servicing, tyres, registration and insurance.
- We then spread these costs evenly across the lease term in-line with your payroll so you know exactly what will be deducted.
- Once we have organised the delivery of your new car, we coordinate with your employer to have the deductions taken from your salary, which in turn
reduces your taxable income and can save you thousands in tax.
Answer:
You can have as many leases as you like as long as your salary supports it
Answer:
No, the car can be used for personal use and/or business use.
Answer:
No, these no minimum amount of kilometres you need to drive each year to make it worthwhile. We tailor the lease deductions to match your actual usage so that you can still save on what you are spending on your car.
Answer:
A novated lease has a residual (ballon) amount due at the end of the lease. Typically the longer the lease the smaller the residual. At the end of your lease term you have a couple of options;
- Pay off the residual and own the car outright
- Extend the lease to continue the tax savings with your existing car
- Sell your car and use the proceeds to pay off the residual and upgrade to a newer car.
Option 3 tends to be the most popular as if you sell the car from more than the residual the difference is yours to keep tax free. In addition, you can move into a newer car with potentially lower maintenance costs and warranty covered car.
Answer:
The amount that has been set aside for your running costs are budget and are based on the type of vehicle you are purchasing and the kilometres you drive each year. If you end up driving less and therefore have a surplus of funds in your novated lease account we can reduce your deductions to match what you spend or even return the surplus via payroll. However, if you ended up driving more we would need to increase the deductions to match what you are spending