Think your dream car is out of reach? You could be wrong. There are ways to drive your ideal car without having to hand over big sums of cash.
Whether it’s using your pre-tax salary to lease a car, taking advantage of government benefits on electric vehicles (EVs), or shopping around to get the best deals, there are several ways to drive your dream car for less.
Let’s take a look.
- Consider novated leasing
- Drive an EV
- Shop around your ideal car
Getting a novated lease is one of the most cost-effective ways to drive your ideal car.
A novated lease operates through your employer meaning you can pay for your car through salary sacrificing. When you enter into a novated lease, your finance costs come out of your pre-tax salary, reducing your overall income and minimising the amount of tax you’ll pay.
Not just that, you can save GST on the price of the car and ongoing costs including fuel, tyres, servicing, insurance and maintenance. That means more cash in your back pocket for the things you want now.
With Government benefits, there are big savings to be had on EVs. As part of the Federal Government’s Climate Policy, EVs with low-to-zero emissions are exempt from fringe benefits tax (FBT). That means you can get EVs at reduced prices while benefiting the environment and driving your ideal car.
If you get your EV through novated leasing, that could mean even bigger savings.
For example, with Inside Edge, you can now lease the popular MG ZS SUV with a purchase price of $50,000 for the same monthly lease cost as a $28,000 Mazda 2 over a three-year lease*.
When it comes to cars there are endless options to suit your, and your family’s needs. Shopping around for the right car––including looking at different models and brands, considering second-hand, and going through a lease provider––can make all the difference.
Well-maintained second-hand cars, for example, can be a great option if you’re on a budget.
Another option is going through a novated lease. Novated lease providers typically have access to fleet pricing, reducing the amount you pay for the car.
Find your cost-effective ride
At Inside Edge, we offer a concierge service to help you find your ideal car at the best possible price.
Get in touch with our friendly team today. Call us on 1300 551 987 or send us an email info@iedge.com.au.
1 *Disclaimer: While Inside Edge makes every effort to provide accurate and complete information, Inside Edge makes no express or implied representation as to the accuracy or completeness of the information provided and will not be liable to you or your employer, in any respect. Salary Packaging may affect other factors including but not limited to Medicare Levy Surcharge, HECS, Child Maintenance liabilities or any Low Income Tax Office (LITO) that may be applicable. InsideEDGE recommends that you obtain your own independent advice when considering salary packaging.
