Clever car ownership that could save you thousands
Salary packaging a car – also known as a novated lease – is one of the easiest and most cost effective ways to buy and run a car. And you don’t need to be earning a huge salary to benefit!
- Save when you buy – our buying power with over 850 dealers ensures our best car pricing, plus you’ll enjoy a further 10% GST saving on the purchase price
- Save on time – we’ll arrange no-pressure test drives, organise your paperwork and bundle your lease expenses into one regular payment on pay day
- Save as you drive – enjoy tax savings from using a combination of pre and post-tax dollars to pay for your finance, insurance, rego, fuel and other running costs
Toyota Yaris Ascent
Mazda 3 Neo
Sport Auto Hatch
Hyundai i30 Active
Hatch Auto PD2 2.0i
Mazda CX-5 Maxx
2.5i CVT AWD
ST-L 2WD 2.5i
GLX ADAS 4x4 Auto
Nissan Navara ST-X
DC 4x4 Auto
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Can novated leasing be cheaper than a car loan or cash?
Yes. By not using your savings or taking out a car loan, you could save up to $12,000 over the life of the lease†.
View the infographic below, to learn more about how novated leasing compares to other forms of finance.
*Based on the following assumptions: living in NSW 2560, salary: $70,000 gross p.a., travelling 15,000 kms p.a., lease term: 60 months, using the Employee Contribution Method for FBT purposes. Images shown may not be the exact car that the calculations have been based on. All figures quoted include budgets for finance, fuel, servicing, tyres, maintenance, Vero by Suncorp comprehensive motor insurance, Hydro Platinum Pack and re-registration over the period of the lease. Also includes, for Nissan and Audi models only, 2 year Platinum Warranty insurance. Vehicle residual, as set by Australian Taxation Office, payable at the end of lease term. The exact residual amount will be specified in your vehicle quote. Vehicle pricing is correct at the time of distribution but may be subject to change based on availability. For the following Nissan models: Navara, Pathfinder, QASHQAI and X-trail, the figures quoted are inclusive of an additional manufacturer’s discount (above our normal discounts). To be eligible for the Nissan manufacturer’s discount, the order for the new car must be placed with Smartgroup Procurement by 31 March 2019.
†Total cost over life, where life represents 5 years. All calculations based on the following assumptions: living in NSW 2000, salary: $70,000 gross p.a., travelling 15,000 kms p.a., lease term: 60 months. Figures quoted include budgets for finance, fuel, servicing, tyres, maintenance, Vero by Suncorp comprehensive motor insurance and re-registration. Novated lease calculations: use Net GST processing method and Employee Contribution Method for FBT purposes; the total cost over life reflects the net effect after tax and includes a Smartleasing admin fee; the Smartleasing buying power discount varies by vehicle and is subject to change; residual value is $9,268.04 including GST at the end of the lease term (the vehicle can be sold or re-leased to payout the residual at end of the lease term). Interest rate quoted for novated lease is 9.85% p.a. vs 10% p.a. for car loan vs. 4.14% p.a. for mortgage loan. Total cost over life for a mortgage loan reflects borrowing the purchase cost of the car against the mortgage and accelerating the payments to offset the change in interest charged and paying this additional amount off over 5 years. Essentially a car loan at 4.14% p.a.
Vehicle pricing and finance rates are correct as of October 2018 and may be subject to change.