Running a car via a novated lease arrangement
If you’re thinking of buying a new car, it’s worth finding out how a novated lease could save you money before you buy a car at retail price. A novated lease is an increasingly common, cost-effective and convenient way to run a car.
Our novated lease product is administered by our employee benefits business division, Maxxia, the largest provider of employee workplace benefit services in Australia.
At the end of the leasing contract, you have the option to upgrade to a new car of your choice or purchase the car for its residual value. And if you upgrade, you're driving a car that's always up-to-date and under warranty.
But if your want peace of mind knowing that your car is covered for the value of your residual, then you have the option to include Guaranteed Buyback Insurance as part of your lease repayments.
For as little as a dollar a day over a four or five year lease term^, Guaranteed Buyback helps protect you against the risk that your car may be worth less than the residual, or pay-out figure at end of lease, by paying you a Guaranteed Buyback value#.
* If the car is purchased through a dealership.
** Your existing car is assessed by the financier and deemed leasable based on the existing merits of the car, such as market value and kilometer usage.
^ Based on an average car valued at $33,606.
# The benefits of Guaranteed Buyback Insurance are subject to fees and conditions, including exclusions for wear and tear, allowances for kilometres travelled and a limit on the total amount that may be paid out. The Guaranteed Buyback value may be less than your residual. Read the Swann Guaranteed Buyback PDS for full details.
For FBT Declaration, please click the below: