When buying a car, the hardest part is financing the project. Even though not all people have financial challenges, you will agree with me that buying a car is a considerable investment and vehicles do not come cheap. Therefore, as an ordinary man with many bills to pay, getting finances for that dream car is not easy. For example, if you have a limited budget or if you have recently been employed, your best bet is to get a car loan, which is the only way you can get your dream car or at least a vehicle to serve your daily needs such as running errands and getting to work without compromising your budget. However, where do you start?
When it comes to financing your dream car, you can get a loan from friends and family, get a bank loan or consider the salary packaging deal. Of all the three options, there is no better option than salary packaging which is commonly referred to as novated leasing, which is where you as the employees get into a deal with your employer and the finance. If your employer supports this kind of agreement, then your next move is to look for a financing company. Look for a financing company that offers you the best deal. This way, you will ensure that you benefit the most from it.
It is easy to understand how a novated lease deal works. The employer agrees to remit the repayments fees to the financing company weekly, fortnight or monthly according to the terms. The financing company, on the other hand, will pay the motor dealer who will then hand in the car to the employee. There are many benefits to this kind of deal. For example, as the employer, there will be increased productivity since offering such deals to employees is a way of motivating them. For the employees, one will save lots of cash since the deductions are made before tax. Also, one is not tied to one employer as the deal is transferable from one employer to another. Finally, the agreement includes registration, insurance, fuel, repair, and maintenance costs which make it affordable to run the car.
In whichever way you look at it, there is no better way to finance a vehicle buying project than a novated lease deal, which is why you should consider Vehicle Solutions Novated Lease if you are buying your dream car soon. The experts here will take you through the process and explain everything to you before signing the dotted line. The best part is that there is an online novated lease calculator that will help you answer most of your questions regarding savings. All you need is input the required data and get your answers without consulting anyone. The calculator is encrypted, and so you need not worry about exposing your financial information.