Do you have a car under finance? Most people do, but it may not necessarily be the best option for them. If your company offers salary packaging you should investigate whether you would be better off financing your car from your pre-tax income. By salary packaging your vehicle you could be thousands of dollars better off each year. Furthermore your employer may even provide you with the opportunity to finance your partner’s car from your pre-tax income.

By salary packaging your vehicle the lease repayments and running costs, such as fuel and servicing are deducted from your pre-tax income. Not only does this provide you with tax savings but it also eliminates the need for budgeting. As your employer takes your lease payments from your pre-tax income you know that your car is being paid for each month.

To find out more about salary packaging (a novated lease) contact a Madison Finance representative today. With experienced staff on hand to answer your queries we will be able to ascertain whether a novated lease will be of benefit to you.