WHAT IS A NOVATED LEASE?
A Novated Lease is a three-way agreement between you, your employer and Land Rover Financial Services that allows you to pay for your vehicle from your pre-tax income. With the option to bundle all your major running costs into the same easy payment as your vehicle, including registration, compulsory third party insurance (CTP), comprehensive insurance, charging/fuel and maintenance, enjoying a Land Rover has never been easier.
HOW IT WORKS
1. SELECT YOUR LAND ROVER
New or used (vehicle must be less than 8 years old at the end of the lease).
2. CHECK YOUR ELIGIBILITY
Check to see if you’re eligible for a Land Rover Novated Lease with your employer.
3. SUBMIT AN APPLICATION
Submit a credit application through your local Land Rover retailer.
4. SIGN YOUR AGREEMENT
Sign the lease agreement – your employer will also need to sign.
5. COLLECT & ENJOY YOUR LAND ROVER
You can then collect your Land Rover from the retailer.
6. AT THE END OF MY AGREEMENT
At the end of your agreement, you can take out a new Lease and upgrade to the newest model.
BENEFITS
PAY LESS TAX
Reduce your taxable income through salary packaging, subject to eligibility and individual circumstances.
SAVE GST
Salary packaging may allow you to save GST on vehicle finance costs, depending on your employer’s arrangements and eligibility.
NO ANNUAL CHARGE/FEES
Pay no annual charge or account-keeping fees
EMPLOYER BENEFIT
If you’re an employer, attract and retain first-class staff by offering cost-effective finance solutions with tax-deductible repayments.
WHAT HAPPENS IF I CHANGE EMPLOYER?
Simply take your Land Rover with you and continue to make the 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, the finance payments will need to be made from your post-tax salary and you will not have the option to bundle running costs into your payment.
WHAT HAPPENS IF I CHANGE EMPLOYER?
Simply take your Land Rover with you and continue to make the 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, the finance payments will need to be made from your post-tax salary and you will not have the option to bundle running costs into your payment.
OTHER OPTIONS
INTERESTED IN BUSINESS FINANCE?
Land Rover Financial Services also offer Business Finance options.
Land Rover Financial Services Pty Limited ABN 20 097 071 460, Australian Credit Licence 389344.
View the Target Market Determination for our Financial Services products here.
^The Land Rover Guaranteed Future Value Program consists of an option to require Land Rover Financial Services to purchase your vehicle at the end of your Land Rover Financial Services Chattel Mortgage or Consumer Loan for a value (known as the Guaranteed Future Value) determined by Land Rover Financial Services and set out in your contract. The Guaranteed Future Value is not a representation by Land Rover Financial Services as to the likely market value of your vehicle as at the end of your contract. The option is available on new and demonstrator Land Rover vehicles for selected models only. Please verify with your dealership vehicles that are eligible for the program. If vehicles are not returned in an acceptable condition, as defined in the terms and conditions or exceed kilometre restrictions the Guaranteed Future Value will be reduced. See the Land Rover Guaranteed Future Value Fair Wear and Tear Guide for more information on the required conditions and circumstances. The cost of the Land Rover Guaranteed Future Value Program is incorporated into the applicable interest rate. Please read the full terms and conditions. Please consider whether these products and services are appropriate for your circumstances. Before acting on any of the information on this page, please seek independent financial and tax advice. Full terms and conditions are available upon application. Available only to approved applicants of Land Rover Financial Services. Available at participating Land Rover dealers. See the Land Rover Guaranteed Future Value Fair Wear and Tear Guide, downloadable on this page, for more information on the required conditions and circumstances in which the guaranteed future value will be reduced.
Land Rover Financial Services is a trading name of Volkswagen Financial Services Australia Pty Limited ABN 20 097 071 460. Australian Credit Licence 389344