Drive Your Dream: How to Secure a BMW Novated Lease in Australia

A BMW novated lease in Australia is a cost-effective arrangement that allows you to finance a new BMW, like the 2023 BMW iX1, through salary packaging. This financial setup reduces your taxable income and bundles your vehicle's running costs into one fixed payment, offering significant savings and convenience.

Key Benefits of a BMW Novated Lease

1. Tax Reduction: You lower your taxable income by paying for your car and its expenses before tax.

2. No Fringe Benefits Tax (FBT): No FBT applies for electric vehicles under the threshold of $89,332, such as the BMW iX1.

3. All-inclusive Payments: Combine your finance and running costs into one regular payment.

4. Extra Savings: Access discounted vehicle prices and save on overall car costs.

Why Choose the BMW iX1?

The BMW iX1 offers a robust package with its all-wheel drive, 230kW power, and state-of-the-art electric technology, all available for a total on-road cost of $86,167. Estimated weekly costs are around $271, with potential savings reaching up to $50,440 over the term.

Additional Perks of Choosing Novated Leasing with Novated Finance

Novated leasing with Novated Finance is not just financially wise—it's a lifestyle choice that offers 24/7 accident management and roadside assistance, ensuring peace of mind wherever you go. 

How to Set Up Your BMW Novated Lease?

Select Your BMW Model

Choose the specific BMW model that fits your needs, such as the 2023 BMW iX1 xDrive30 xLine Wagon. This initial step sets the foundation for your personalised lease plan.

The Application Process

To initiate your BMW novated lease, follow these steps:

1. Inquiry Form: Fill out a fast form on the Novated Finance website to express interest.

2. Consultation Call: A representative will contact you to discuss your options and next steps.

3. Credit Application: Complete the necessary credit checks and documentation.

4. Employer Coordination: Novated Finance will engage with your employer to finalise the lease activation.

5. Vehicle Delivery: Once the finance is settled, your new BMW iX1 will be delivered to you.

6. Payroll Arrangement: Payroll advice will be issued to ensure seamless payment through your salary.

End-of-Lease Options and Flexibility

At the end of a novated lease term, you have several options that provide flexibility depending on your situation or preference. You can upgrade to a new vehicle with a new lease, purchase the vehicle outright by paying the residual value, or simply return the vehicle if you decide not to continue. This flexibility allows you to adapt your vehicle needs to changing life circumstances without being tied to a long-term ownership commitment​.

Transferability and Continuation

Another benefit of novated leases is the potential to transfer the lease to a new employer if you change jobs. This feature is particularly useful for maintaining the lease benefits and avoiding early termination fees or complications that might arise from a job change. It also highlights the adaptability of novated leases to the dynamic career paths many professionals experience​​.

Ready to start driving your dream BMW? Contact Novated Finance Australia today to discover how our tailored novated lease plans can benefit you.

Frequently Asked Question

• What is the cost of a BMW novated lease in Australia?

  The cost varies based on the model and terms, but expect around $271 per week for a BMW iX1, with significant long-term savings.

• Can I get a novated lease on any BMW model?

  You can apply for a novated lease for any current BMW model available in Australia, subject to approval and conditions.

• What are the tax benefits of a BMW novated lease?

  You can reduce your taxable income and pay no FBT on certain models like the BMW iX1, as long as it's under the price threshold.