Kia Novated Lease
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Discover the Innovation and Style of Kia with a Novated Lease
Kia is a brand synonymous with sleek design and exceptional performance. With cutting-edge technology, a signature aesthetic, and impressive power across the range of fuel, hybrid and electric models, Kia vehicles offer something for every driver. With a Kia novated lease, you can enjoy the innovative features and reliability of a Kia while benefiting from the game-changing financial advantages that only a novated lease can deliver. Experience the comfort, style, and advanced technology of a Kia with a tailored novated lease from LeaseLab.
Maximise Your Savings with a Kia Novated Lease
A novated lease for your new Kia means significant cost savings compared to traditional car financing or outright purchases. With a Kia novated lease, your lease payments and running costs such as fuel, insurance, maintenance, and even charging expenses for electric models like the Kia EV9 or EV6, can be deducted from your pre-tax salary.
In addition to these tax benefits, a Kia novated lease includes GST savings of 10% on the purchase price and the running costs of your Kia. And if you’re looking at hybrid or electric models, you may be exempt from the 47% Fringe Benefits Tax (FBT) while potentially enjoying the 5% Electric Car Discount. That’s a whole lot of savings to be had! With a Kia novated lease, you can bundle your lease repayments and running costs into one fixed, regular payment, making monthly budgeting a breeze.
A Kia Novated Lease is Easier with LeaseLab
We’ve been in the business a while, and we know what’s important when it comes to simplifying what might seem like a confusing process. The reality is, it’s really not. When you opt for a Kia novated lease with Leaselab, we’ll work with you to help you determine the best plan and will support you throughout the term of your lease, up until renewal and beyond. We take the hassle out of novated leasing and arm you with the knowledge to make the best-informed decisions for your personal situation. Whether you’re eyeing a fuel-efficient Kia Cerato, a versatile Kia Sportage, or an eco-friendly Kia Niro, we’ve got a flexible solution to save you thousands.
Use our Kia novated lease calculator to estimate the potential savings on your new Kia with LeaseLab.
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FAQs
What are the advantages of a Kia novated lease?
The most notable benefit of a Kia novated lease is the money you’ll save. With a Kia novated lease, your repayments are made using your pre-tax income, much like salary sacrificing, which in turn reduces your taxable income. You can choose to bundle your running costs, like fuel, charging, rego, insurance, and servicing, into your regular repayment, reducing your taxable income even further. You’ll avoid paying GST on the purchase price, and its running costs, and if you purchase a hybrid or electric model, there are savings to be had with Fringe Benefit Tax (FBT) reductions as well.
Is a Kia novated lease the same as a car loan?
Not at all, these are very different solutions. A car loan is repaid with your post-tax income, meaning you pay tax on your earnings before making loan payments. In contrast, a novated lease for a Kia is paid with your pre-tax income, which means your lease payments come out before taxes are deducted, thereby lowering your taxable income. This setup usually results in significant tax savings, often outweighing the interest paid on the lease. With a Kia novated lease, you can enjoy greater financial benefits - and more flexibility - compared to a traditional car loan.
How does the Fringe Benefits Tax (FBT) affect Kia novated leases?
Fringe Benefits Tax (FBT) is applied to benefits you receive from your employer for personal use, such as a car. If your employer covers costs for your personal life, it can create an FBT liability for them. With novated leases, FBT can also be a factor, but we address this by combining your pre-tax and post-tax salary contributions. This post-tax portion is known as an “employee contribution,” which helps offset the FBT liability. At LeaseLab, we tailor the employee contribution to your unique situation to ensure compliance while maximising your tax benefits.
Can I choose any Kia model for a novated lease?
Yes, you can choose any Kia model for a novated lease, whether it’s a fuel-efficient sedan, a versatile SUV, or an eco-friendly hybrid or electric vehicle. LeaseLab offers flexibility, allowing you to select the Kia model that best suits your needs and preferences, ensuring you get the most out of your novated lease experience.
How does a Kia novated lease work?
A Kia novated lease involves a three-way agreement between you, your employer, and a novated lease provider - like us. Instead of purchasing a car outright, you enter into a lease for a fixed period and novate that lease to your employer. Your employer deducts the lease payments from your pre-tax salary, covering the car and its running costs if you choose to bundle them in. This set-up is similar to salary sacrificing.
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