Selectus Novated Lease review
Save on tax by leasing your work car.
If you need access to a vehicle but don’t want to take out a loan, a car lease could be a suitable alternative. You can rent a new or used car for a fixed term with no obligation to purchase it once the lease has ended.
While there are a variety of lease arrangements out there when it comes to cars, one option worth considering for those who are currently employed and have an employer who supports the arrangement is a novated lease.
A novated lease lets you rent the car you want using your pre-tax salary to reduce your taxable income. Your employer organises for your lease payments to be taken directly from your pay, leaving you free to use the car how you wish.
Selectus offer flexible novated leasing options for those working in education, government or the private sector. You can lease a new or used car for up to five years and choose to incorporate additional car running costs into your lease. Selectus will also help secure your vehicle from their network of dealers.
Find out if a novated lease from Selectus suits your needs in the review below.
How does a novated lease from Selectus work?
You can lease a new or used vehicle, or even your existing vehicle, for a term of one to five years. Once you have decided on a lease, you can submit a lease inquiry via the Selectus website and a staff member will contact you.
Selectus will then source your vehicle from a national network of over 850 dealers to help find the one that is right for you. You can also arrange for Selectus to add all other running costs, such as registration, fuel and maintenance in your regular lease repayment. You will use your pre-tax salary to pay for these costs as well.
What features are on offer?
- Flexible lease terms. You can lease a new or used vehicle for one to five years. You can also get a novated lease on a vehicle you already own.
- No upfront deposit or GST on purchase price. You don’t need to make any initial payments and will simply pay the lease over the course of the term.
- Inclusive services. You can opt to have Selectus cover ongoing running and management costs such as repairs, registrations, fuel and roadside assistance as part of your lease. Also, you won't need to pay GST on associated running costs.
- Simple repayments. You can pay for your lease and any additional services using one regular payment, which Selectus can help manage on your behalf.
- Test drive. Selectus can help you arrange a test drive of the vehicle you want before you commit to a lease.
- Vehicle disposal program. Once your lease ends, you can opt to start a lease on a new vehicle and avoid the costs of depreciation associated with car ownership. You can also refinance the same vehicle for another lease term.
How much does the lease cost?
The fees and costs associated with the lease will vary depending on both the terms of the lease and on any additional services included in the agreement. You can opt for Selectus to manage additional running costs such as fuel and insurance, which will then be included in your regular lease repayments.
You may also have to pay additional fees as part of your lease agreement and these will be detailed once you have submitted an application.
How to apply for the Selectus novated lease
If you want to apply for a novated lease, you will need to click the “Go To Site” button above and then follow the instructions to begin the application process. You will need to provide the following information as part of your initial inquiry:
- Your name and contact details
- The name of your employer
You will also need to provide further personal and financial details as part of the application process.
If you’re looking to lease a new vehicle, a Selectus novated lease may help you save on tax and let you package all running costs into a simple payment. As with any product, you should consider a range of leasing options before making a decision.
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