Hello! I am a temp resident based in Sydney and looking for the best option to purchase a car. I am weighting my options of going for a used car from a dealership or carsales OR to go for novated leasing via my company. Does anyone have good suggestions and went through the process already? Thank you?

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Depends on how long you want to stay with your employer providing the novated lease. You can change from novated to lease only if you quit, but note that once that lease expires, they will not renew it unlike being on novated lease which allows you to renew indefinitely.

This might be an issue if you get an expensive car, because the balloon amount, as they call the end of lease amount, must be paid in full.


What’s your income and how many km’s do you expect to drive?
Top tax bracket + decent amount of km’s + >= 12 month stay then a novated lease is a very good move.
Note you don’t need to get a new car for novated lease - you can buy a second hand car through your novated lease firm.

From a tax POV, best situation is lowest upfront cost of car + highest amount of km’s.


Thank you for thinking this through with me 🙌😄


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