Car leasing continues to become a more viable option for obtaining a new car on the Gold Coast, especially for salaried employees who generally opt for a novated car lease. It is an option that allows for monthly payments to be deducted from your pre-tax salary. In general, leasing a car is a great option for drivers who are not interested in committing to a lengthy car loan in order to drive a new car.
In this article we explore some of the realities you should be thinking about when you are in the market to lease a car.
Below we have highlighted a list of advantages to opting for leasing a car:
⠂Novated leases enable you to save money on taxes.
⠂You save more money because you are not paying GST on purchasing a car and the running costs thereof.
⠂Leasing companies that can offer you the novated leasing option can provide larger discounts because of their purchasing power.
⠂You are not obligated to purchase the vehicle after the lease period comes to an end.
⠂You are not required to pay a deposit on the lease.
⠂Car maintenance and upkeep is hassle-free.
On the other hand, we have also identified some harsh realities that come with the decision to opt for leasing a car:
⠂You are not allowed to make any modifications to the car with most car leasing contracts.
⠂Because you don’t have ownership of the car, you cannot leverage it as an asset.
⠂You can be liable to pay heavy penalties for exceeding lease cars’ strict mileage caps.
⠂You can be liable to pay heavy fines in the instance where you terminate your lease contract untimely.
Making the decision to lease a car can be daunting, so it is important to find the right experts to provide you with the guidance you need to make a decision that works for you and your budget. Call us today at ZEP Finance Gold Coast on 1300 557 027 to get expert and quality advice for your next car lease. Our consultants are ready to assist.