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Novated Lease Residual Calculators

Novated Lease Residual Calculators

Novated Lease Residual Calculator

The leasing residual calculator helps to determine your leasing residual amount, and any time you enter a credit score into this easy-to-use tool, it instantly provides you with more than 20 market rate statistics.

Lease

The residual value is simply the final finance payment that represents the value of the vehicle at the end of the lease. A Novated Lease needs a residual value because you have novated the ownership (payments of the lease and running costs) to your employer which allows you to save tax. By novating the ownership means that during the lease you can’t create any equity or ownership in the vehicle. However, at the end of the lease you always have the option to payout the residual value and own the car.

Vehicle Solutions is listed on most car manufactures lists as a Novated Leasing provider. This means you qualify for fleet pricing. Many large companies and government employees also qualify for extra discount through a Novated Lease. To save even more go to www.motorbuys.com.au. Motorbuys is our online new car buying site that allows you to source the best new car prices without the pressure and stress of negotiating in person with multiple dealerships. By getting a better vehicle price you pay lower lease payments and therefore save even more. (Source: vehiclesolutions.com.au)

Use

The novated lease calculator is quick and simple to use, but it’s important to note that this just an indication. All you have to do is insert the required information regarding your novated lease and let the calculator do the rest. You’ll need to input the loan amount, the loan term, the interest rate on the loan, and the repayment frequency (weekly, fortnightly, monthly). If you decided on a residual payment on your novated lease you’ll also have to enter in the residual percentage of the loan and the residual amount. This information will allow the calculator to find out the expected repayment amount. Make sure this information is accurate so you get the most accurate result. If you use estimates the calculation will only be an approximation. Here is a breakdown of the information you'll need to put in:

Olivia and her employer agreed on a novated lease upon a promotion in her department. Even though her employer will be taking care of the repayments through salary packaging she still wants to know what the repayments will be so she isn’t surprised when she sees how much is coming out of her pay. To figure out the repayments she decides to use the novated lease calculator. The novated lease is for $15,000 with a three year term at 5% interest with monthly repayments. Olivia and her employer decided on a residual payment as well. The residual percentage is 3% which makes the residual amount $450. She puts all of this information into the calculator and finds out that the repayment amount will be $436.13 plus an additional $3.20 GST. She now knows to expect $439.33 to be deducted from her pay each monthly pay cycle. (Source: www.finder.com.au)

 

 

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