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Last Aussie Commodore a great novated lease choice

Whether it's nostalgia, people hoping to buy a bit of motoring history, or just the recognition of a very good car, but the last Aussie Holden Commodore is proving popular with used car buyers.
 
Back in October 2017 when Holden ceased production in Australia, the Commodore was the fifth most popular new car on the market behind the Hyundai i30, Toyota HiLux, Toyota Corolla and the Ford Ranger. Two years later, in September 2019, the Commodore was the third most popular used car choice behind the 2016 Toyota Landcruiser and the 2016 Toyota HiLux, according to data from carsales.com.au.
 
Many considered the VF Commodore the best Holden ever made, with the V8 in particular offering plenty of grunt, generous passenger space and better than average handling. It looked stylish, too. The wagon was a great looking vehicle.
 
All-in-all it's not surprising then that the last Aussie Commodore is such a hit on the used car market. The good news is that if you're in the market for one there's plenty of choice out there, many of them with low kilometres on the clock at pretty attractive prices.
 
Used cars and novated leases
If you're looking to get your hands on one of the last of the Aussie Commodores then a Fleetcare Novated Lease is the perfect way to do it. What? A novated lease on a used car? Surely not! Aren't novated leases strictly for new vehicles? Well no, as long as the vehicle you're novating isn't more than 8 years old at the end of the lease period then you can get a used vehicle on a novated lease. That Aussie Commodore easily falls into that category.
 
So why would you choose a Fleetcare Novated Lease over any other finance option? Well quite simply it's the perfect way to get your hands on the vehicle of your choice while reducing the total cost of running it. You see all those running costs – finance, registration, servicing, fuel and more – come out of your wages before it's taxed, leaving more money in your hand each pay day and less for Mr Taxman.
 
How does it all work? Well in simple terms a novated lease is a three-way agreement between you, your employer and a novated lease provider. In other words, it's salary packaging. The leasing company provides the car and your employer pays the lease on it with the money coming out of your pre-tax salary. You get to drive the car.
 
Lease it, keep it
A novated lease term runs anywhere between one year and five. At the end of that period there's a residual payment to be made to the finance company, though there's a trade-off between the size of that residual payment (or "balloon payment") and the amount that comes out of your fortnightly pay. The minimum amount of this payment is determined by the ATO, as a percentage of the amount that you borrow to purchase the vehicle. The amount varies depending on your lease term.
 
At the end of your lease you have a few choices. You can trade your vehicle in for a new one on a new novated lease, sell it privately to pay off that residual value or refinance that residual value over a new term. But what if nostalgia has got the better of you and you've decided that you just love Australia's last Holden, you want to keep it and care for it and perhaps hand it down to your children and their children as a family heirloom? Well in that case you simply pay off that residual value and it's yours to keep and cherish.
 
If you need to know more about a novated lease for any used vehicle, not just Australia's last home-grown Commodore, then phone Fleetcare today on 134 333.

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