NOVATED LEASE (VEHICLE)

OVERVIEW

Offering a novated lease as part of employment benefits helps to attract and keep staff. A novated lease on a vehicle can offer tax benefits to employees at no cost to the employer. Choosing the wrong provider may create administrative headaches for both the employee and employer.

It can lead to excessive manual handling and confusion in understanding requirements. Worse still, a poorly implemented or managed novated lease can also lead to financial impacts at the end of lease.

Choosing the right provider will deliver benefits for both parties. The right provider will also ensure the process is seamless with a better outcome.

THINGS TO LOOK OUT FOR

Unclear pricing
Some providers are not transparent when providing quotes on novated leases. Make sure the quotes received are clear and enable easy decision making. This will improve the experience for staff.

Nasty surprises
Keep an eye out for providers who do not provide a full novated lease. A full novated lease takes care of all of the elements of running a vehicle. This can reduce the chance of nasty surprises during and at the end of a lease. Ongoing monitoring and proactive management by the supplier can avoid this.

Manual handling
In the age of technology, there should be no or minimal manual handling. Finding information should be easy but some providers fail at this. Ease in finding information and use of technology is a must. This ensures a smooth experience for both the employee and employer.

BETTER BUYING OUTCOME

A better buying outcome facilitates both the employees needs as well as the employer. This is critical to a successful novated leasing offer as part of employee benefits package.

  • Smart technology means less time to administer for businesses and better service for employees
  • A high service culture delivers better ease of use
  • Ongoing monitoring reduces the possibility of significant charges at end of lease.

THE DEAL

Supply Clusters has partnered with LeasePLUS to deliver a better novated lease experience.

Supply Clusters members receive the following benefits:

  • Capped monthly admin fees
  • Value adds for each new vehicle lease
  • Employers have access to all lease agreements via a web portal

LeasePLUS customers enjoy:

  • 24/7 access for employees to their own portal to manage their vehicle
  • A full novated lease package taking into account all aspects of running a vehicle




THE BOTTOM LINE

A novated lease is a strong value add for employees.

  • Choosing the right supplier can make novated leases simple for both the employee and employer
  • The right systems and processes can save both parties time and money

You should choose a provider that offers:

  • A no surprises approach for both parties
  • Technology that empowers managing the lease for employees and employers

FIND OUT MORE

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