The Ultimate Guide to Novated Leasing the Mercedes EQS

Are you dreaming of cruising in a Mercedes EQS but worried about the costs? We get it—a high-end luxury vehicle like the EQS can feel out of reach. But what if there was a way to get behind the wheel of your dream car without draining your bank account? Enter novated leasing.

Novated leasing is not just another car loan. It’s a smart, tax-effective way to drive a Mercedes EQS while spreading out costs over time. With this arrangement, you can enjoy luxury without the financial headaches that often come with car ownership.

What is Novated Leasing and Why Choose It?

Novated leasing is a three-way financial agreement between you, your employer, and a leasing company. It allows you to drive a new car, like the Mercedes EQS, with minimal upfront costs, while your employer helps pay the lease from your pre-tax salary. This salary packaging arrangement reduces your taxable income, meaning you save on tax while driving the car of your dreams.

Why Should You Choose Novated Leasing Over a Traditional Loan?

• Tax Savings: With a novated lease, payments come out of your pre-tax salary, reducing your taxable income and helping you save money.

• Simplified Budgeting: Your lease payments, fuel, maintenance, and even insurance can be bundled into a single monthly payment, making budgeting easier.

• Drive a New Car Without a Deposit: You don’t need a huge upfront payment. The leasing company owns the car while you enjoy the drive.

Novated Leasing the Mercedes EQS: What You Need to Know

The Mercedes EQS is the epitome of luxury, combining a sleek design with cutting-edge technology and an impressive electric range. Novated leasing allows you to enjoy this top-tier vehicle without the usual financial stress. But before you jump in, here are some things you should know:

Choosing the Right Mercedes EQS Model

The Mercedes EQS comes in several variants. The EQS 450+ offers a robust electric motor and a range of up to 782 km on a single charge, making it perfect for long trips. If you want even more power, the EQS 580 4MATIC offers additional features and performance upgrades, but keep in mind that higher models will increase your monthly lease payments.

Understanding the Costs

Your monthly payments for a Mercedes EQS novated lease depend on factors like the specific model you choose, the lease term, and included services. Don’t forget to account for costs like insurance, maintenance, and registration, which are usually bundled into the lease but may vary between providers.

Employer Participation

Not all employers offer novated leasing, so check with your HR department to see if it's an option. Your employer needs to be involved in the process as they facilitate salary deductions to cover the lease payments.

Benefits of Novated Leasing the Mercedes EQS

Novated leasing is a popular choice for luxury car lovers who want to drive a high-end vehicle like the Mercedes EQS without the financial strain. Here’s why leasing this model makes sense:

1. Drive Your Dream Car

Novated leasing allows you to drive a brand-new Mercedes EQS without worrying about saving up for a massive deposit. You can enjoy one of the most luxurious electric vehicles on the market immediately, spreading the cost over time.

2. Significant Tax Savings

Since your lease payments are deducted from your pre-tax income, your taxable income is lowered, reducing the amount of tax you owe. This can result in significant savings, especially for higher-income earners.

3. One Simple Monthly Payment

Novated leasing bundles all your car expenses—lease payments, insurance, fuel, maintenance, and more—into one easy-to-manage monthly payment. This streamlined approach simplifies budgeting, so there are no nasty surprises or unexpected repair bills.

4. Peace of Mind with Maintenance and Repairs

Worried about car repairs or servicing costs? With a novated lease, the leasing company takes care of all vehicle servicing, repairs, and often insurance. This hands-off approach means you can relax knowing everything is handled, leaving you free to enjoy the drive.

Potential Drawbacks of Novated Leasing the Mercedes EQS

While novated leasing has many benefits, it’s not without its downsides. Here are some potential drawbacks to consider before signing on the dotted line:

1. Fixed Lease Term

With a novated lease, you’re committed to a fixed term, usually between two and five years. If your circumstances change, such as needing a different type of vehicle, you may face fees for exiting the lease early.

2. Limited Vehicle Customisation

Unlike outright ownership, you may face limitations when it comes to customising the Mercedes EQS under a novated lease. While you can often choose certain features, extensive modifications may not be possible.

Making Your Decision: Is a Mercedes EQS Novated Lease Right for You?

So, is novated leasing the Mercedes EQS the right choice for you? Consider the following:

• Do you want a brand-new Mercedes EQS?

• Are you looking to reduce your tax liability?

• Do you want an easy, all-inclusive car payment plan?

• Can you commit to a fixed lease term?

If you answered "yes" to most of these questions, a novated lease might be the perfect way to enjoy luxury driving without breaking the bank.

Getting Started with Novated Leasing for the Mercedes EQS

Ready to lease the Mercedes EQS and enjoy the drive of your life? Here’s how to get started:

1. Talk to Your Employer

Check with your HR department to confirm that novated leasing is available and find out if they have any preferred finance providers.

2. Find a Novated Leasing Provider

Do your research and compare quotes from several finance companies that specialise in novated leasing. Look for a provider that offers competitive rates and good customer service.

3. Choose Your Mercedes EQS

Pick the model that fits your needs and budget, whether it’s the EQS 450+ for its range or the EQS 580 4MATIC for enhanced performance and features.

4. Negotiate the Lease Terms

Once you’ve chosen your vehicle and provider, negotiate the lease term, monthly payments, and any additional services. Make sure you fully understand the terms before signing.

5. Enjoy Your Drive

Once everything is finalised, you can start enjoying the drive in your brand-new Mercedes EQS. With all costs bundled into one payment, you can focus on the open road without worrying about finances.

Conclusion: Driving Your Dream Car Made Easy

Novated leasing is a smart and tax-effective way to drive your dream car—the Mercedes EQS—without the financial strain that usually comes with luxury car ownership. By understanding the benefits, considering the potential drawbacks, and choosing the right leasing provider, you can enjoy all the perks of driving a high-end vehicle like the EQS.

If you’re ready to get started, contact Novated Finance Australia today. Our team of experts will guide you through the leasing process, helping you make the most of your Mercedes EQS novated lease.

Frequently Asked Questions

• What is the minimum salary required for a Mercedes EQS novated lease?ted leasing is a good option for me?

  The minimum salary depends on the finance provider and lease terms. Generally, higher incomes benefit the most from the tax savings of a novated lease, but it’s best to speak with a leasing expert to understand the requirements based on your financial situation.

• How long are the lease terms for a Mercedes EQS?

  Lease terms typically range from two to five years, allowing you to spread the cost over a period that fits your budget. You can negotiate the term that works best for your financial goals and driving habits.

• Can I customise my Mercedes EQS under a novated lease?

  While some customisation options are available when choosing features and trims for your Mercedes EQS, extensive modifications may be restricted by the lease agreement. It’s essential to review these details with your leasing provider before making any changes.

• What happens at the end of the lease term?

  At the end of the lease, you will own the car at the end of the period typically through a bubble payment. Your leasing provider will help you navigate the available choices based on your preferences.

• Are there hidden costs with novated leasing?

  While novated leasing is designed to simplify car ownership, it’s essential to read the lease agreement thoroughly. Some additional fees, like early termination penalties or excess kilometre charges, may apply depending on the terms of your contract.