Owning an electric vehicle (EV) is already a great step toward a sustainable future, but did you know it can also save you thousands of dollars?
With a Sale and Novated Lease Back, EV owners have a unique opportunity to unlock the value of their cars while enjoying significant tax savings. Let’s explore how this works and why it might be the smartest financial move for EV owners.
A Sale and Novated Lease Back is a financial arrangement where you sell your vehicle to a leasing company, ie WhipSmart through its finance partner, and lease it back through your employer using a novated lease. This allows you to:
Receive a lump sum payment upfront for the value of your vehicle.
Lease the car back using pre-tax income, significantly reducing your taxable salary.
This arrangement is especially attractive for EV owners due to the tax benefits currently available for EVs (must be newer than July 2022 to comply).
Want to know more about novated leasing? Contact WhipSmart – www.whipsmart.au
