New Model Highlights: Novated Lease for Kia Vehicles

Leasing a vehicle can sometimes seem complicated, especially when navigating the available leasing options. The novated lease, however, stands out by providing a simpler, cost-effective approach that combines all the benefits of car ownership with financial advantages. 

If you’re eyeing a Kia model, a novated lease offers a way to get on the road without the usual hassles of car buying or traditional leasing. With Novated Finance Australia, you can enjoy a streamlined leasing experience that keeps costs predictable and allows you to drive a thoroughly maintained car.

Why Choose a Kia on a Novated Lease?

Kia has gained a strong reputation in Australia for being affordable, reliable, and packed with features that appeal to a wide range of drivers. Whether you’re a city driver or need an SUV for the family, Kia’s lineup has something for everyone. Choosing a novated lease for a Kia model means you can enjoy the benefits of owning a new car without the initial financial strain.

Popular New Kia Models to Consider:

• Kia Seltos (2024): Kia Seltos is perfect for urban drivers because of its compact size and tech-forward design. With advanced safety features, a sleek design, and a comfortable interior, the Seltos offers an elevated driving experience in a small package. The 2024 model brings a refined interior with updated tech, making it even more attractive for those looking for an affordable yet premium feel.

• Kia Sportage (2024): This spacious SUV offers a family-friendly design with ample cargo room, a powerful engine, and excellent fuel efficiency. It also features Kia's latest infotainment system and improved safety ratings. The new model introduces a hybrid variant that offers even more fuel efficiency, making it an appealing option for drivers seeking sustainability without sacrificing power.

• Kia EV6 (2024): Kia’s latest addition to its electric vehicle (EV) lineup, the EV6 is a stylish, eco-friendly choice. It combines high performance with a comfortable range, making it an attractive option for those looking to go electric. The 2024 model offers increased battery efficiency and a range of up to 510 kilometres, making it perfect for long-distance drives.

• Kia Sorento PHEV (2024): For those wanting the flexibility of a plug-in hybrid, the Kia Sorento PHEV offers low emissions, excellent fuel economy, and spacious interiors, making it ideal for families. The 2024 update brings even more advanced driver-assistance features and a more refined interior, enhancing the driving experience for those who need both space and efficiency.

Choosing one of these models on a novated lease means enjoying advanced technology and safety features, with the added benefit of potentially reducing your taxable income.

How Novated Leasing Works for New Kia Vehicles

A novated lease is a three-way agreement between you, your employer, and a leasing company, like Novated Finance Australia. In a novated lease, your employer agrees to deduct lease payments from your pre-tax salary, giving you potential tax savings and making it a more affordable way to finance a car.

Key Benefits of a Novated Lease:

• Ownership Flexibility: With a novated lease, you can own the car outright by paying a residual value at the end of the lease. This differs from typical leases, where you return the vehicle at the end of the term.

• All-Inclusive Payment: A novated lease bundles all significant costs, such as fuel, insurance, maintenance, and tyres, into one payment. This eliminates the need to budget separately for vehicle expenses, simplifying your monthly financial planning.

• Residual Value Option: At the end of the lease, you can either pay the residual value, as set by the Australian Tax Office (ATO), and keep the car or return it to begin a new lease.

A novated lease with Novated Finance Australia can simplify budgeting and reduce the financial stress often associated with vehicle ownership by covering all vehicle expenses under one payment.

What Makes Novated Finance Australia’s Leasing Stand Out?

Novated Finance Australia goes above and beyond to make the novated leasing process as simple and stress-free as possible. From quick approvals to transparent pricing, they’ve designed their services to help you drive your ideal vehicle without complications.

• 4-Hour Approval Process: Novated Finance Australia aims to get you approved within hours, not days. This speed means you can move forward with your lease and get on the road sooner without waiting for lengthy approvals.

• Comprehensive, Fixed-Cost Leasing: Their all-in-one fixed payment covers essential vehicle costs. Whether it’s fuel, tyres, or insurance, everything is factored into one easy-to-manage payment, so there’s no need to juggle multiple bills each month.

• Focused on Novated Leasing Expertise: Novated Finance Australia specialises solely in novated leases, ensuring you get expert guidance on every aspect of your lease. From understanding tax savings to managing payments, their team supports you.

Eligibility and FBT Exemption on New Kia Electric and Hybrid Models

For those considering an electric or hybrid Kia, novated leasing can provide additional savings through FBT exemptions. The Australian government exempts certain electric vehicles from Fringe Benefits Tax (FBT), provided they are priced within the Luxury Car Tax (LCT) threshold. This makes it particularly cost-effective to lease electric Kia models like the Kia EV6 or Niro EV.

FBT Exemption for Kia Electric Models:

• Kia EV6 and Niro EV: Both models qualify for FBT exemption if the vehicle costs under $91,387, reducing costs further for eco-conscious drivers.

• Luxury Car Tax (LCT) Threshold: This threshold ensures that electric Kia models within this threshold come with significant cost savings on a novated lease.

Key Questions to Ask Before Choosing a Novated Lease for Your Kia

Before you decide on a novated lease, consider your driving habits and financial goals. Here are some questions to help guide your decision:

• Is this vehicle practical for your needs? Kia offers a variety of models suited for different lifestyles. If you need a reliable family car, consider the Sportage or Sorento PHEV.

• Do you drive mainly low to medium kilometres? Novated leases work well for drivers with moderate mileage, as maintenance costs are predictable and bundled.

• Would you benefit from a tax-saving leasing option? With pre-tax payments and FBT exemptions on electric models, a novated lease could reduce your taxable income.

Assessing these questions can clarify whether a novated lease aligns with your needs and whether Kia’s model offerings suit your lifestyle.

The Benefits of Novated Leasing for Employers

Novated leasing isn’t just beneficial for employees; it can also bring advantages to employers. Offering novated leasing as a benefit can improve employee satisfaction and loyalty, as it provides staff with a cost-effective vehicle financing option that requires minimal paperwork from the employer.

• Employee Satisfaction and Retention: Providing access to novated leasing is a valuable employee benefit that can boost morale and loyalty.

• Cost Management for Employers: Novated Finance Australia takes care of the payroll deduction setup, ensuring a smooth and easy process with minimal administrative work for the employer.

Final Thoughts 

A novated lease with Novated Finance Australia allows you to enjoy the latest from Kia. Models like the 2024 Kia Seltos and Kia EV6 bring high-quality driving experiences to Australians. Novated Finance Australia offers a seamless, all-inclusive leasing option that eliminates the usual hassles of car ownership, enabling you to drive a new vehicle with ease and confidence.

Ready to get started? Contact Novated Finance Australia and learn more about driving one of Kia’s latest models with a fully maintained, cost-effective, novated lease.

Frequently Asked Questions

• What happens at the end of my lease on a Kia Niro EV or Seltos?

  Rather than returning the car, you can pay a final balloon payment, making the car yours to keep.

• Can I lease a used but recent Kia model like a 2022 Kia Sportage?

  Yes, provided the vehicle is less than 15 years old by the end of the lease term.

• How does maintenance work for new Kia models under a novated lease?

  Maintenance for models like the 2024 Kia Sorento is covered under the fixed payment plan, ensuring you won’t face surprise costs for upkeep or servicing.