What are the disadvantages of novated lease?
Cons
- You don't own the car. Under a novated lease, you don't technically own the vehicle. ...
- Residual value due at end of lease. ...
- You might liable for the car if you lose or change your job. ...
- Administration fees and higher interest rates.
How does fleet plus work?
Your employer pays the fixed vehicle Lease cost directly to FleetPlus from your pre-tax income every pay day while you continue to pay for your fuel and maintenance out of your own pocket using your after tax pay.
Is a novated lease worth it?
Is a novated lease worth it? In most circumstances, novated leases offer substantial income tax and GST savings while bundling up all the costs of running a car into one easy, fixed, and regular payment. If it's available to you, its benefits usually far outweigh a standard car loan.