When it comes to the purchase of a new vehicle in Australia, you must have a positive credit history and you must be able to provide positive financial statements to lenders. If you’re not able to provide proof you are a responsible borrower, you might not find anyone willing to lend you the money to finance a car. That’s where finding out whether your employer offers a novated lease is beneficial. A novated lease is an employer-backed lease that allows you to buy a car without the best credit and without worry you might be denied purchasing a new vehicle.

A novated lease is not something you will find everywhere you go. They’re offered by only employers who feel that the value of offering one of these leases is beneficial to them, and it works in your favor if you apply for one of your own. The Novated Lease Stratton is paid by your employer. You get to choose the car you want to drive, come up with a finance plan with the lender you work with, and then present it to your employer. Your employer then makes a decision regarding whether he or she is willing to pay this loan for you.

Keep in mind a novated lease is not something your lender pays for you free of charge to you. You still repay this loan. It’s up to you to make the payments from your own paycheck, the only stipulation is your employer makes the payment from your pre-tax income and you get what’s left after that. It’s one way for the lender to guarantee that you will pay your loan, which is why lenders are more willing to provide novated lease approvals to consumers than any other type of loan.It’s your money, but your company is paying it for you. The lender knows the company will pay the loan as long as you are employed with them. The lender is willing to work with you, to give you a chance, and to provide a novated loan if your employer works with this kind of financing. You have options, and it’s time to enact them so you’re able to buy what you want.

The biggest benefit of a novated lease is knowing you have a chance of approval when you might not otherwise. The other benefit is you never need to worry about your car payment. It’s made on time, you don’t have the option to keep it or send it in, and it helps you improve your financial life. If you want to try a novated lease, ask your employer if the novated lease option is a choice where you work. It might not be, but it’s also something you might consider the next time you’re offered a job with a new company if you think it will benefit you to use this finance method.