The majority of individuals who wants to buy a house contact a mortgage broker to know about the best financing options.
A broker will understand your current financial situation and finds a good deal for you that matches your current financial situation and goals. Just like a mortgage broker, a finance broker can help you if you are looking for a novated lease.
In case of a novated lease, your employer will pay the required amount every month from your monthly payment.
Wondering what to do when you move to another company? In that case, you have to make the payment. If at all your new employer provides you an option for novated lease, they will make the payment on your behalf of you.
In the case of job loss, you must make the payments. Novated lease is meant for leasing for cars. You will take your favorite car for lease for a specific time period.
Mostly it will be 2 to 3 years and in some cases, it would be 3 or 5 years. When your agreement comes to an end, you can either choose some other car for lease and make a new agreement or buy the car which you have taken for lease already, if you are in love with it.
If you do not want to do either of them, you can tell the same to the novated lease firm.
A financing broker works for you and is not affiliated with any particular lender. They have a responsibility to take your purchasing preferences, long-term objectives for your car, and other important things into consideration.
If you are looking for a finance broker, take the help of popular online directories such as Bleen. You can find the information here about the various businesses with just a few clicks.
Read on to know about the Novated lease pros and cons:
- You can save a good amount of money with it on your tax. As some amount will go towards the lease every month, the amount on which tax will be calculated differs.
- As this amount will be lower compared to the earlier, you will see reduced tax. Reduced tax means, more savings.
- Another great advantage of a novated lease is, you can choose any type of car.
- You will be eligible for novated lease, only if you get a salary every month. In short, if you don’t get a monthly salary, a novated lease is not for you.
Why hire a finance broker?
- A finance broker will help you understand the monthly payment calculation, i.e., the amount that goes towards the novated lease. They can make complex calculations, easy to understand.
- A broker will help you by handling all the paperwork. They will complete the application process and other things for you.
- This means, you do not have to do anything from your side. As you will save so much time because of this, you can use it to finish your other tasks.
Find a good broker to save your time and money!