Saturday, August 9, 2008

End of Novation Period - What Options? Part 2

If you want to keep the car you've got a Novated Lease on but can't afford it at the end of the lease, you might consider option 2.

Option 2 -Refinance the Residual Amount

If the driver wishes to retain the vehicle but can't afford the residual amount plus GST, he/she can arrange to have this amount refinanced over a further period - again Salary
Packaging this new Novated Lease from their salary.

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