Discover a cost-effective, convenient way to purchase your next car in Victoria. At Paywise, we offer employees across VIC, from Geelong to St Kilda, and everywhere between, personalised Novated Lease options, where they can save thousands.
Our Melbourne team offers expert guidance on Novated Leasing in Melbourne and VIC, combining local tax knowledge with strong connections to dealerships to deliver an easy, personalised leasing experience from start to finish. Check your Novated Lease savings below or reach out to our team today to learn more.
What is a Novated Lease?
A Novated Lease is a financial agreement that allows you to finance your car using pre-tax income, with payments made by your employer to cover the vehicle’s running costs and finance. It can help you save on both your vehicle purchase and operating costs by reducing your taxable income. This makes it a tax-effective way to manage your vehicle expenses. Novated Leasing at Paywise not only offers these potential savings, but also caters specifically to the needs of Victorians for a hassle-free car leasing experience.
Who is Eligible for a Novated Lease?
To be eligible for a Novated Lease in Melbourne and across Victoria, you must be employed in Australia with a consistent income, and your employer must offer salary packaging. To apply for a Novated Lease you’ll need to provide:
Valid identification
Proof of income
Evidence of your current address
Information on your assets, liabilities, and ongoing expenses
Once your application is submitted, it will go through a finance review and credit assessment to confirm your eligibility, similar to applying for a car loan. However, keep in mind that a novated lease covers all your running costs, not just the finance.
Which incentives are available for electric vehicles in VIC?
You can make EV ownership more affordable through a Novated Lease with Paywise. Legislation was passed in late 2022 to exempt certain Electric Vehicles (EVs) from incurring Fringe Benefits Tax (FBT). This is exciting news for anyone in Victoria wanting to own an EV, presenting a highly compelling opportunity via salary packaging under a novated lease arrangement.
How does Novated Leasing work for VIC employees?
A Novated Lease in Victoria is a three-way lease agreement between:
An employee
An employer
A Novated Lease provider, such as Paywise
The ATO-approved arrangement lets you finance a new or used car and covers all associated running costs, using funds deducted automatically from your salary before tax.
How it works:
You can customise the lease term and monthly repayments to suit your needs.
Payments are automatically taken from your pre-tax salary, removing the hassle of budgeting for car expenses.
Enjoy the advantages of Novated Leasing without the complexities of a traditional car loan!
Paywise have been helping Victorian employees maximise their income through Salary Packaging and Novated Leasing for over 35 years. As a proudly Australian-owned company with a nationwide reach, we are committed to providing exceptional service to customers across the country. Whether you’re indulging in life’s little luxuries or stretching your pay to cover everyday expenses, we’re here to help you make the most of your salary.
Personalised Service, From Start To Finish
At Paywise, you’ll talk to a real person. From day one, you’ll have a dedicated specialist to guide you through the entire process.
Enjoy 24/7 Access To Your Benefits
Manage all benefits at your fingertips with the Paywise App and access your digital card, view transaction balances and submit claims, all at a glance. You can even live chat with your Paywise account manager!
Trade-Ins Made Easy
Got a car that’s struggling to sell? We can negotiate with our network of wholesalers and dealers to get it sold at a price you’re happy with.
Why choose Paywise as your VIC Novated Lease provider
For over 35 years, Paywise have been helping employees in Melbourne, as well as wider Victoria, to maximise their take-home pay and achieve substantial savings with Novated Leasing.
Our extensive experience is matched only by our dedication to personalised service, which is tailored to meet the unique needs of each client. This has earnt us outstanding reviews and testimonials over the years
When you contact us, you’ll speak directly with a Paywise expert, each and every time. Our Novated Lease sales team is committed to ensuring clients receive the assistance they need. We go the extra mile to fulfil our brand promises at Paywise, even beyond regular business hours.
Speak with our Novated Leasing experts in Melbourne today
To learn more about our Novated car Lease options in VIC and find out how much you could save, get in touch with our Melbourne team. Our local experts are here to answer any questions you have. Speak with us by calling 1300 132 532 today. Alternatively, you can email info@paywise.com.au and a member of our team will get back to you promptly.
