The Major Facilities Of Operating Lease For Salary Packaging
Novated lease involve several terms that may have diverse benefits for leaseholder or the employee opting for it
. The operating lease is also being popular among Australian employees and employers. It is an off balance sheet leasing option for vehicle. It proposes light commercial motor and competitively valued passenger car loans, subjected to exclusion of any maintenance or residual risk and is custom-made to be in line with the vehicle usage. Operating lease can prove to be a great saving while leasing your car so wisely take it into consideration.
Basically this is designed and directed to match the customized need of the lease aspirant or lease holder. Operating lease is planned to lower the costs linked with the fleet of company cars. As the facility is provided to larger fleets and the financing company is accountable for complete administration and maintenance of the vehicle fleet. The employers as well the employee are free of any maintenance worry of their leased car and so can well relax and this lease can be a tension free lease for them.
Operating lease offers fixed rental payment option for the vehicle. You can well plan your finance and budget as your monthly lease repayments are fixed. At the end of the lease term the vehicle can simply be handed over to the finance company and the employer and employee has no residual value exposure. So a well lease plan for tension frees term during the lease as well as after the lease. You can opt for operating lease if you want to consider a fixed repayment plan.
The two basic novated lease terms are involved with this lease too that are fully maintained operating lease and Non Maintained Operating Lease. The fully maintained operating lease covers the complete vehicle operating and in this you are free to spend a single penny for driving your car. You can choose between two flexible terms such as number of months and total miles travelled. Choose whichever is suitable for you and your driving plan. The lease termination depends on the selected option and you can have few more flexibility with tyre and fuel optional.
In the non-maintained operating lease the lease holder is accountable for complete maintenance as well as the rest incurred costs on operating of the vehicle. The main benefit of this operating lease term is that the finance company bears the residual value risk and so at the end of the term you and your employer is free of any obligation. So wisely decide the kind of novated or the operating lease that may benefit you the most.