Novated Lease
Drive your salary further with a Volkswagen Novated Lease
A Novated Lease is a three-way agreement between you, your employer and Volkswagen Financial Services1 that allows you to pay for your car from your pre and post-tax income – which could save you money. With the option to bundle all your car-related expenses into the same easy payment as your car, including registration, compulsory third party insurance (CTP), comprehensive insurance, charging/fuel and maintenance, enjoying a car has never been easier.
Your benefits
- Reduce your income tax by paying for your new Volkswagen through pre-tax salary
- Save GST on the car finance
- Flexible finance terms of up to 5 years
- Budgeting made easy with the option to bundle all your car-related expenses into one payment, automatically deducted from your salary by your employer each pay cycle
How it works
- Select your Volkswagen – new or used (car must be less than 8 years old at the end of the lease
- Check to see if you’re eligible for a Volkswagen Novated Lease with your employer
- Submit a credit application through your local Volkswagen Dealership
- Sign the lease agreement – your employer will need to sign the novation agreement
- Pick up your Volkswagen
If you change jobs, you simply take the car with you and continue to make the car finance repayments directly or transfer your novation agreement to your new employer. If you or your new employer choose not to have the novation agreement transferred to your new employer, the finance payments will be for the car only and will need to be made from your post-tax salary and you will not have the option to bundle running costs into your payment.
Next steps
If you are unsure whether a Novated Lease is right for you, please speak to your accountant or financial adviser.
