Owning a car is a dream come true for many people. A car will change your life in that you will no longer have to rely on public transport which can be very inconvenient at the time of need. With a private car, you can go anywhere any time without restrictions. However, unless you have been born with the silver spoon, it is not always that someone would hand this luxury to you. You have to work hard and get enough money to buy your first car. But if you are employed and not ready to work for five years to afford your dream car, you can always opt for car financing.
When it comes to vehicle financing, you can choose for a novated lease deal, or you can seek funding from a money lending institution. Each of this will get you your dream car, but nothing can compare to a novated lease deal. Getting a car loan from money lending institutions means that you will have to incur high interests and your credit score will profoundly affect how much money you can get. In most cases, the financing will not include the running costs of the car which means you will have to dig even deeper into your pockets for fuel, maintenance and insurance.
With a novated lease, you have everything to smile about it. As long as your company supports novated lease deals, you can get your dream car financed entirely including the running costs (fuel, insurance, maintenance etc.). Also, you have the freedom to choose not only the kind of car you want but also the repayment period. Using the novated lease calculator makes it even more comfortable. By visiting a novated lease car dealer website, you will get a novated lease calculator that will help you do most of the estimates.
By merely encoding several variables like your annual salary, the cost of the car, the repayment period, how to make the payments (monthly, weekly, etc.), you will be able to get 100% actual calculations, and so you can make the decision quickly. The calculator allows you to do all these calculations while protecting your data as you are guaranteed absolute privacy.
Still, with novated lease calculation, you will also know how much money you can save on your taxes. You can know you’re saving money compared to getting a car loan from money lending institutions. Once you know that you can afford it, you can then talk to your employer and sign a deal with the car lender. The best thing is that the payments will be deducted from your salary before taxes which means you take more money home as compared to buying a car utilising other car financing deals. Also, even if you transfer to another company, you can still have your car as the next employer can take the responsibility of making the repayments without changing the deal.