BMW Novated Lease
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Discover Luxury with BMW with a Novated Lease
BMW delivers the spirit of luxury, performance, and innovation in a premium range of instantly recognisable models. From fuel-efficient sedans to powerful SUVs and innovative electric models, BMW brings a superior experience that caters to various driver preferences. Choosing a novated lease for your BMW opens up a world of financial advantages. Depending on your model of choice, you can save upwards of tens of thousands of dollars compared to purchasing a BMW outright or with traditional vehicle financing. With a BMW novated lease from Leaselab, you can drive away in style and comfort for less.
A Better Way to Drive with a BMW Novated Lease
There’s alot to like about a BMW novated lease. By running your lease payments and operating costs, like fuel or charging costs, tyres, services and regos through your pre-tax salary, you reduce your taxable income, pay less tax, and put more of your income back into your wallet. You won’t pay GST on the purchase price of your BMW, or its running costs, saving another 10%.
If you opt for an electric or hybrid model, like the iX or i7, you could qualify for the federal government's Fringe Benefits Tax (FBT) exemption for electric and low-emission vehicles under the luxury car tax threshold, enhancing your savings even further.
A novated lease for your BMW is easy with LeaseLab
The novated leasing process with LeaseLab is simple and efficient. It starts with selecting your preferred BMW model, followed by a three-way agreement between you, your employer, and LeaseLab. Your employer deducts lease payments from your pre-tax salary, and LeaseLab manages the paperwork and provides ongoing support throughout the lease term. Whether you’re considering a BMW 3 Series, X5, or iX, LeaseLab’s expert team is here to guide you, offering flexible solutions that you drive away in luxury.
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FAQs
Is a BMW novated lease right for me?
A novated lease can be a great option if you want to save on taxes while enjoying the flexibility of bundling your car costs into a single, regular and predictable payment. It’s particularly beneficial for those who prefer a hassle-free way to manage their vehicle expenses, and for those who appreciate securing the best possible deal for a new vehicle.
What are the benefits of a BMW novated lease?
A BMW novated lease offers tax savings by using your pre-tax income for lease payments. It also provides GST savings on the purchase price and running costs, and potential FBT exemptions for hybrid and electric models. This makes driving a luxury BMW more affordable and financially advantageous than traditional vehicle financing or purchasing outright.
What is a novated lease residual value?
The residual value is the estimated value of the vehicle at the end of the lease term. It is agreed upon at the start of the novated lease for your BMW and influences the lease payments. At the end of the lease, you can pay the residual value to own the car, return it, or start a new lease.
Is there a minimum salary requirement for a BMW novated lease?
There is no strict minimum salary requirement for a novated lease on your BMW. Approval depends on your individual financial situation, including areas like your income, expenses, and any financial dependents. LeaseLab can help you assess your eligibility and find the best option for your circumstances.
Which BMW models are eligible for a novated lease?
Most BMW models are eligible for a novated lease, including popular choices like the BMW 3 Series, X5, and iX. LeaseLab offers flexibility, allowing you to select the BMW model that fits your needs and preferences, ensuring you get the most out of your novated lease experience.
The benefits of novating
Reduce your tax bill using pre-tax income
Fleet pricing on a range of cars
Include running costs in one easy payment
No bill shock with smooth payments
Avoid GST on the vehicle and running costs
Flexible plans and end of lease options