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Novated Lease
(for new vehicle)
Is there any age restriction on the car?
No, there is no age restriction
How does the leaseback arrangement work?
You sell your car to Lend@bility, who pay the purchase price to you monthly, over the period of the lease. Lend@bility then lease the vehicle back to you and you pay the rental in pre-tax dollars, deducted from your pay.
Does the car remain registered in my name?
Yes
What can I package?
You can package your vehicle running costs and the lease rental on the vehicle
How does the Residual Work?
The ATO defines a the residual value of the vehicle based on the term of the contract, implying that would be the value of the vehicle at the end of the term. At the end of the term, Lend@bility still owe you the residual and you owe Lend@bility the equivalent residual. We exchange and you keep your car.
What are the benefits?
You can save thousands each year in tax and through fleet discounts