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Novated Lease or Finance?

2K views 3 replies 2 participants last post by  Beardy 
#1 ·
I know it’s a decision that needs to be based on personal financial circumstances however I thought I would ask:

1. Did you chose to lease or finance your Macan
2. What were the deciding factors for you?

I’ve put this in the Australian topic because I figure leasing and the contributing factors are probably a little unique to each country.
 
#2 ·
I assume by novated lease you are looking to make the vehicle purchase part of your salary package?

The correct answer really depends on your personal circumstances and you should seek advice from your accountant. If there is no tangible tax benefits for you to do so you will most find there are more competitive ways to finance the vehicle, the cheapest one is drawing on your home loan if you have one
 
#3 · (Edited)
Thanks. Yes Salary Packaging and my options are finance at a home loan rate like you suggest or novated lease with pre tax payment benefits and non GST etc

I’m aware it’s personal but there are pros and cons to each so I’m just asking about people’s personal experiences and decisions.
 
#4 ·
The pros and cons are really only financial. If you have finance on the vehicle the insurance companies charge a slightly higher premium than if you own it.....if you redraw from your home loan you will get the benefit of the lower premium
Another consideration is if you lease you take advantage of the vehicles asset to borrow the money and can hold on to your redraw facility funds for something else if needed
 
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