Why use a broker for your novated lease

When it comes to buying your house, a mortgage broker has long been the go-to option for financing. Not only do they help you navigate the tricky world of home loans, but they’re usually not aligned with any one lender, so they’ll take the time to understand your finance situation and find a deal that aligns with your financial goals and situation.

So, when it comes to other large investments such as your car, caravan or investing to grow your business, it’s surprising that only 5% of the market use a broker. In fact, most purchasers tend to stick to what they know or what they perceive to be easier, their local bank or finance company.

When it comes to securing a novated lease, the steps between finding a car, understanding the pre-tax salary packaging and ensuring you’re getting a deal that’s right for you can seem overwhelming. This is where a broker can help.

A finance broker takes the time to understand how you intend to use your car, how long you might want it for and more importantly, when it comes to novated, helping you understand the savings you can achieve. If you're considering a novated lease, here are the things you should expect from an experienced finance broker.

A finance broker is not aligned to any one lender, instead they work for you. It’s their job to understand what you’d like to buy, your credit profile and history and what your long-term goals are for your vehicle. Whether than be paying it off, trading it in or upgrading in the future. One of the benefits of the broker working for you, rather than you doing the work, is that a credit check won’t be run on your name until you give your permission to apply, so using a broker won’t affect your credit score.

An experienced broker will be able to ask you the right questions from the start, and help you work out what might work best for you. Plus once active, if you have any problems with your loan, your broker will be able to assist.

The novated leasing industry has often been construed as opaque, but at Stratton your broker will be completely transparent. They’ll walk you through your quote including the purchase price of the vehicle leased, the total financed amount and the interest rate.

They will work on your behalf to devise a deal tailored to your specific wants and needs, using our trusted panel of industry lenders.

If you’re unsure about what you need to do or what paperwork you need to fill out, and you don’t have time to work it out, a broker can help you handle all the nitty gritty of a finance deal.

As a novated lease is an agreement between three parties (the lender, the employer and yourself), the paperwork involved can be more complex than your average loan. An experienced broker will be able to ensure your application is correct the first time and the submission process can be done in one go, so you can spend less time worrying about it and more time looking for the right car!

Because a novated lease is salary packaged, most if not all of it will be paid using pre-tax dollars. You’ll enjoy a lower rate of tax on the benefit, so you can save money. A novated broker can help you understand this and take you through the calculations to help make the complex, simple.

With over 20 years’ experience, Stratton Finance has the expert knowledge and market leading tools to help you navigate novated leasing.

You’ll get your own dedicated consultant from the first enquiry, so you can be informed every step of the way. Ready to find out more? Give us a call on 1300 131 050 or request a quote online.