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Similar to a rental agreement, your business pays for the use of the vehicle for an agreed period, between 12 months to 5 years, and kilometre usage. At the end of the lease, return the vehicle, there is no balloon payment and no risk.
Operating Leases include the running costs of the vehicle, such as registration renewals, maintenance, tyres and roadside assistance into the monthly payments.
A credit limit just for your company car(s), a pre-set amount is available for you to draw down on as and when you need a new Mitsubishi.
We have two different ways of funding a vehicle; they differ by the security taken and the tax benefit claimable.
They are normally offered over terms between 12 months to 5 years, and at the end of this term, a pre-specified ‘residual’ payment will be due.
A novated lease is a popular way of funding a new personal vehicle. A novation is a three-way agreement between you, your employer and the financier – often a salary-packaging company. The lease payments and operating costs are paid by your employer and deducted from your salary, which may have tax benefits.
Ask your employer if they offer novated leases.
Our dedicated and experienced team of Business professionals are located throughout Australia, so no matter where you are we are here to support.
