Car Lease Sydney

Looking for a car lease, Sydney based, and want the best deal possible? Compare more lenders, save more tax with Savvy.

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, updated on July 4th, 2023       

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Access the best car leasing deals with Savvy

Car leases are popular in Sydney with business owners, self-employed workers and employees. They allow the lessee to take control of the leased car for a set period (paying to do so along the way) without ever owning it in their name. This can save a significant amount of money over the course of the agreement and ensure that businesses can stay up to date with their car models more easily.

That’s why Savvy has partnered with a wide panel of financiers to help you get fully approved online for car leasing wherever you are, whether you live in the Harbour City, Newcastle, Wollongong or smaller locales like Broken Hill, Ballina or Ulladulla. With easier maintenance and tax benefits at your disposal, you can get your online car lease application started here today.

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The features and benefits of car leasing

Competitive interest rates

You’ll be able to compare a range of low interest and comparison rates for your profile to help you minimise the cost of your finance agreement.

Cheaper monthly payments

Because you’re essentially paying for the ability to use the car, rather than the car itself, your instalments are likely to be cheaper across your lease.

Versatile leasing options

Whether you want to take out a finance lease, operating lease or novated lease in Sydney, we’ll connect you with a lender who can help you out.

Tax benefits

Because you won’t be paying for GST on the car and can claim up to 100% of your lease’s payments and operating expenses on tax, you can save a significant amount of money.

Flexibility to stick with the latest models

Leases allow you to easily switch between cars at the conclusion of your initial agreement, ensuring you can continue to drive the best and latest models.

Choose your contract length

These agreements also afford Sydney residents the flexibility to opt for a long-term lease up to five years or short-term lease of two years.

Why Sydneysiders choose Savvy for their car leasing needs

What are the different types of car leases available in Sydney?

Finance leases

These leases function essentially how you’d expect a lease to function: the lessee agrees to lease a car purchased by their financier by agreeing on a set monthly payment and timeframe for the agreement.

Once this period is completed, the lessee is obligated to settle the residual amount either by paying it and taking ownership of the car or refinance the residual to continue leasing the car. Payments on these leases are based on the price of the car before GST is added, reducing their cost.

Operating leases

Operating leases function in much the same way as finance leases, with one key difference: there’s no concrete residual payment at the end of the agreement, meaning the lessee is able to simply hand the car back at the conclusion of the term.
These leases incorporate various on-road costs, such as servicing, registration and insurance into your payments, meaning you don’t have to worry about sourcing all of them yourself.
Businesses may favour these leases to save on paperwork otherwise dedicated to dealing with the residual. All of your repayments are able to be claimed , which can save you thousands. However, rates are higher than those of finance leases.

Novated leases

Novated leases are slightly different to the previous two types of leases, as these are able to be taken on by employees rather than business owners. In this agreement, the lessee’s employers agree to take on the lease’s payments, deducting the required amount from the lessee’s pre-tax income..

What makes this option so appealing is that it reduces your taxable income, thus saving a meaningful amount on tax each year while still paying the same amount for the use of their car. Additionally, the car can be 100% for private use, rather than solely available for work purposes.

Lessees are given the choice of paying the residual at the end of the lease and taking ownership of the car, refinancing the residual to extend their lease or trade in or sell the car and lease another model.

How to compare the best car lease offers with Savvy

Frequently asked questions about car leasing in Sydney

What can I use my car for under a leasing agreement?

Because car leases are commercial products, both finance and operating leases are required to be used for business purposes at least 50% of the time. Lessees are also only able to claim for lease expenses when using the car for business purposes. This is not the case for novated leases, as outlined above.

Does my leased car have to come from Sydney?

No – Savvy can help you get approved for a car lease for vehicles located across the country. If you’re struggling to find the right car, or simply don’t know where to start, we can help you source a car via our national dealer network.

Does my leased car have to be new?

No – you can get approved for a lease on a used car bought via a dealership or private sale. Speak to your Savvy consultant today to find out more about your options when it comes to leasing a used car and where you can get them from.

Will I have access to financiers across the country?

Yes – because we’re partnered with over 25 of Australia’s best car finance companies and offer a wholly online service, you can choose from any applicable lender you wish, rather than just from Sydney.

What documents will I need when applying for a car lease?

Firstly, you’ll first need to show personal identification in the form of a passport, driver’s licence and/or other forms of acceptable photo ID.

You’ll also have to provide your income, which will come in the form of the two most recent years’ tax returns.

This is likely to be supplemented by other documents like profit and loss statements, your ABN and GST registration and possible financial forecasts.

Can I still apply for a car lease if I don’t have the required tax returns?

Yes – in this situation, the sole trader or business owner would be able to look to a low doc car lease.

Financiers will instead assess factors such as your time in business, income stream and credit history to determine your suitability for a lease. You’ll have to provide additional alternate documentation under this agreement, such as BAS, bank statements and an income declaration.

What’s the difference between a car lease and a chattel mortgage?

A chattel mortgage allows you to take ownership of the car from the beginning of the agreement, affording you greater freedom with how you can use it. Because it’s an asset on your business’ books, you can claim all of the GST on the purchase, as well as interest and depreciation to enable you to save a potentially significant sum on tax.

 

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