Car Lease Brisbane
Drive away with the best car lease for private or business use in Brisbane when you apply through Savvy.
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Drive away with the best car lease option
When it comes to searching for the right car lease for you or your Queensland-based business, Savvy is the best place to start. We’re partnered with over 25 of Australia’s top vehicle financiers to offer you great deals when you want to run your car without having to pay for it outright.
Our service is 100% online and supported all the way through by our experienced financial consultants, so we can service the regions. If you live in a bigger city like Brisbane, Cairns or the Gold Coast or a smaller area like Port Douglas, Innisfail or Longreach, we can help you get your car lease approved. Enjoy flexible lease options and competitive interest rates when you apply with Savvy.
The benefits of taking out a car lease
Affordable interest rates
You’ll be able to access competitive interest rates on your car lease deal through our trusted finance partners to help you cut down on the cost of your agreement.
Multiple available leasing types
We can connect you with financiers who can arrange operating, finance or novated leasing for your car depending on your personal situation.
Tax breaks
You’ll be able to claim up to 100% of your lease’s repayments on tax, as well as GST, while depreciation can also be claimed.
Contract terms from two to five years
With terms available from as little as two years up to more long-term car lease lengths of five years, we can accommodate your needs.
Optional residual payment
Depending on the type of lease you choose, you may be able to incorporate a residual payment at its conclusion to cut down on monthly payments.
Payment certainty
Because all rates and fees are fixed, the monthly cost of your car lease will remain the same across your agreement to make it easier to budget around.
Why Savvy is the best place to find your Brisbane car lease
An extensive lender panel
Because we count over 25 lending partners amongst our panel, we give you the best chance of finding the right lease with greater choice.
Apply from your smartphone
The process is as convenient as can be. Complete your quick quote and submit all your documents through our online portals, accessible via your phone.
Rates tailored to your situation
Each applicant will receive their own unique interest rate personalised to fit their borrowing profile, ensuring your agreement represents you.
Car Lease example
Let’s say your business turns over $140,000 annually, and you’re looking to finance a new BMW. You visit your local dealership and find an M40i X3 for $110,000. You only drive about 8,000km a year, so you find a finance lease deal, payable over five years with a 6% interest rate. According to ATO guidelines, the residual gets set at 28.13%, so what tax savings will you make across the five-year term?
The first thing of note here is that even though you source and negotiate the price of the car yourself, the lender buys it and reclaims the GST, so you save a straight $10,000 as soon as you sign the lease agreement.
Add to that the annual tax savings of $8,737 each of the five years the deal runs, and you’re up by a total of $53,685.
| Lease Type | Finance Lease |
|---|---|
|
Term |
Five Years
|
|
Vehicle |
BMW X3 M40i – $110,000
|
|
GST Savings |
$10,000
|
|
Interest charges over term |
$19,935.91
|
|
Total cost of finance lease |
$119,935.91
|
|
Annual taxable revenue before lease |
$140,000
|
|
Annual tax saving |
$8,737
|
|
Total GST and tax savings over term |
$53,685
|
Car leases explained further
Finance vs operating leasing
These two types of leases are the most popular amongst businesses and self-employed workers. Both are designed for business use and are largely structured in the same way.
However, where the differences come in is that finance leases are more so designed for the business to buy, or continue to lease, the same car by either paying or refinancing the residual. Businesses who want to keep the vehicle in the long term and reap the tax benefits tend to opt for this kind of lease.
Operating leases come with no residual, meaning they can simply be returned to the lessor at the conclusion of the lease. This makes them an attractive option for businesses with high vehicle turnover who want to avoid thorough paperwork, but they come with higher interest rates due to the greater risk taken on by the lender.
Novated leasing
Novated car leases engage in a three-way agreement between a financier, employer and employee to enable the latter to lease the car. In this arrangement, the employer makes the required payments towards the car lease, taking this amount out of their employee’s pre-tax income (also known as salary packaging or sacrificing).
The primary benefit of this is that because payments are taken out of the lessee’s pre-tax income, it reduces the amount of tax payable annually while still costing the same amount, which saves money. Additionally, the car can be up to 100% for private use and still not have any GST payable on the lease.
At the end of this loan, the lessee is given the power to choose whether to buy the car by paying the residual, refinancing the residual to extend the lease or selling it or trading it in for another car.
Fully maintained vs non-maintained
You can also choose whether to opt for a fully or non-maintained car lease, which is an important decision to make in the selection process also.
A fully maintained lease takes the hassle out of picking out and arranging on-road costs and cover like servicing and insurance by incorporating it into your lease payments. This is generally the more expensive option, but lessees might favour this as a means of saving on time.
Non-maintained leases, on the other hand, exclude these from their service, instead requiring you to seek out and pay for these costs separately. The primary benefit of this is that you’re granted ownership over what you’re paying for these costs, enabling you to save money in the process.
How your payments work
Unlike car loans, you’re not paying for the purchase price of your car when leasing it. Your primary monthly cost is essentially a rental fee, which is cheaper than the standard car principal instalment, and remains fixed throughout your term.
On top of this, you’ll have to pay interest based on the rate you’re given (which is also fixed) and fees across your leasing agreement. While you probably won’t have to pay a monthly service fee, you may face an establishment fee of $350 to $400.
There are other conditional fees that may apply to your loan, such as early break fees (which are dependent on how long is left to run on the loan) and late payment fees for submitting instalments behind schedule (usually by more than five days).
Car leases vs other commercial finance
Other types of commercial finance offer potential alternatives for businesses and come with their own benefits, any of which you can apply for with Savvy today.
Chattel mortgages involve the business owner taking ownership of the vehicle from the beginning and the lender holding an interest in the vehicle in much the same way as they would for a property mortgage. The business then repays the loan until the mortgage is removed and they own the vehicle untethered. This type of finance allows businesses to borrow over 100% of the car’s value and claim for GST, interest and depreciation.
Hire purchases are more similar to car leases in that the ownership starts with the financier before being transferred to the user at the conclusion of the agreement. In this situation, your lender can claim for the same tax benefits and pass these onto you as savings. This type of financing is beneficial for businesses who prefers or needs off-balance sheet accounting.
What our customers say about their finance experience
Savvy is rated 4.8 for customer satisfaction by 3384 customers.
