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Car Lease Brisbane

Name: Car Lease Brisbane
Creator: Savvy
Published: 2020-12-16T20:04:29+10:30

Drive away with the best car lease for your business in Brisbane when you apply through Savvy.

No obligation. It won't affect your credit score.

Written by , updated on May 23rd, 2024

When it comes to searching for the right car lease for you or your Queensland-based business, Savvy is the best place to start. We’re partnered with some of Australia’s top vehicle financiers to offer you great deals when you want to run your car without having to pay for it outright.

Our service is 100% online and supported all the way through by our experienced financial consultants, so we can serve you wherever you are, from bigger cities like Brisbane, Cairns or the Gold Coast to smaller areas like Port Douglas and Longreach. Enjoy flexible lease options, competitive interest rates and quick approval when you apply with Savvy.

What are my commercial car lease options in Brisbane?

In Australia, there are two main commercial lease options: finance leases and operating leases. Both are popular among businesses and are structured in largely the same way, in that the business essentially rents the vehicle or equipment from the lessor for a set period of time at a fixed rate. On top of this, you’ll have to pay interest and fees across your leasing agreement. However, there are distinct differences between the two types of lease.

Finance leases are designed for the business to buy, or continue to lease, the same car by either paying or refinancing the residual. Businesses that want to keep the vehicle in the long term tend to opt for this kind of lease.

Operating leases, on the other hand, come with no purchase option, meaning they are simply be returned to the lessor at the end of the lease. This makes them an attractive option for businesses with high vehicle turnover.

Here’s a how the two compare:

	Operating lease	Finance lease
Ownership	Lessor retains ownership throughout lease term	Lessor retains ownership until end of term
Option to buy	No option to buy at end of lease term	Option to buy at end of lease term
Term length	1–5 years	1–5 years
Maintenance	Typically included in lease agreement	Lessee responsible for maintenance costs
Payment	Fixed payments covering lease period	Fixed payments covering lease period
Mileage limits	Yes, many leases set a maximum number of kilometres per year	Yes, many leases set a maximum number of kilometres per year
Balloon payment (residual value)	No	Yes, if lessee chooses to buy car

What is a fully maintained car lease?

A fully maintained lease takes the hassle out of picking out and arranging on-road costs and cover like servicing and insurance by incorporating it into your lease payments. This means you pay a regular fixed amount to cover all your car’s costs. These expenses include:

Vehicle registration
Insurance premiums
Tyre replacements
Servicing and maintenance
Fuel

Operating leases are typically fully maintained. However, finance leases are not. This means that you are responsible for covering all running and maintenance costs yourself, and you only pay for the cost of leasing the car. The primary benefit of this setup is that have the control and flexibility to choose your service providers and potentially save money in the process.

Are there tax benefits with a car lease?

Leasing a car can provide significant tax advantages for businesses:

Goods and Services Tax (GST) savings: if you are registered for GST, you can claim back some or all of the GST included in your lease payments as an input credit on your next Business Activity Statement (BAS). This can significantly reduce the overall cost of the lease.

Tax deductions:

Lease payments: the lease rental payments may be tax deductible if the vehicle is used for work purposes. This means that you can deduct the cost of the lease from your taxable income, reducing your overall tax liability.
Operating lease expenses: under an operating lease agreement, if the vehicle is used for work purposes, you can claim tax deductions for various car-related expenses.

What is a novated lease?

Novated car leases are a three-way agreement between a financier, employer and employee to enable the latter to lease the car. In this arrangement, the employer makes the required payments towards the car lease, taking this amount out of their employee’s pre-tax income (also known as salary packaging or sacrificing).

The primary benefit of this is that because payments are taken out of the lessee’s pre-tax income, it reduces the amount of tax payable annually while still costing the same amount, which saves money. Additionally, the car can be up to 100% for private use and still not have any GST payable on the lease.

At the end of this loan, the lessee is given the power to choose whether to buy the car by paying the residual, refinancing the residual to extend the lease or selling it or trading it in for another car.

What other types of commercial finance are available in Brisbane?

Other types of commercial finance offer potential alternatives for businesses and come with their own benefits, any of which you can apply for with Savvy today.

Chattel mortgages involve the business owner taking ownership of the vehicle from the beginning and the lender holding an interest in the vehicle in much the same way as they would for a property mortgage. The business then repays the loan until the mortgage is removed and they own the vehicle untethered. This type of finance allows businesses to borrow over 100% of the car’s value and claim for GST, interest and depreciation.

Hire purchases are more similar to car leases in that the ownership starts with the financier before being transferred to the user at the conclusion of the agreement. In this situation, your lender can claim for the same tax benefits and pass these onto you as savings. This type of financing is beneficial for businesses who prefers or needs off-balance sheet accounting.

Why Savvy is the best place to find your Brisbane car lease

An extensive lender panel

Because we count over 40 lending partners amongst our panel, we give you the best chance of finding the right lease with greater choice.

Apply from your smartphone

The process is as convenient as can be. Complete your quick quote and submit all your documents through our online portals, accessible via your phone.

Rates tailored to your situation

Each applicant will receive their own unique interest rate personalised to fit their borrowing profile, ensuring your agreement represents you.

What our customers say about their finance experience

Customer Feedback

Corey is the Best and it was my 2nd time dealing with him, and once again he helped me obtain what I was asking for. I just really wanted to say thank you. 😊

- By Jason Ralph 2 hours ago

5/5

Awesome

Was exceptional

- By Ivan Jez 23 hours ago

5/5

Seif at Savy highly recommend

Seif at Savy was amazing I had tried to get a loan and was denied by 2 car yards saying they could not finance me I have a low credit score from enquires thanks to being scammed and Seif was able to get me the loan I needed to get a car he went above and beyond and always keep me updated throughout the hole process he was amazing I appreciate he’s work Would highly recommend Thank you 🙏 Seif

- By Lisa Begbie 2 days ago

5/5

Savvy is rated 4.9 for customer satisfaction by 3952 customers.

Frequently asked car lease questions

Can I make any upgrades to my car while under lease?

No – because you won’t own the car, there are restrictions on what you can and can’t do with it regarding optional alterations. This also extends to how you can use it, as (aside from novated leasing) you’ll be required to use it for work at least 50% of the time. If you’re unsure, speak to your Savvy consultant or your financier to find out what you can do.

Does my lender have to be Brisbane based if I want a lease in Queensland?

No – at Savvy, our lending partners span the country and are all accessible online. Because of this, you can apply to lenders all around Australia and get approved for financing.

How long does it take to get approved for a car lease?

Thanks to our advanced digital technology and experienced finance consultants, your application can be turned around from quick quote to settlement and the car at your disposal in as little as 48 hours. The speed is affected by several different factors, such as the location of your car and the nature of your profile as a borrower.

Can I adjust my residual amount?

Probably not – most financiers’ residuals in relation to car leases are set at a fixed amount based upon the length of your lease, as dictated by the ATO. These are the set minimum residual values your financier can charge, bearing in mind that there is room for them to charge 5% to 10% above them.

One-year lease: 65.63%
Two-year lease: 56.25%
Three-year lease: 46.88%
Four-year lease: 37.5%
Five-year lease: 28.13%

Can I apply for a car lease with bad credit?

Yes – our flexible lenders can work with your situation, so we can help connect you to a financier who offers loans to customers with poor credit histories. While you’ll have to pay more in interest and fees, these are a viable option for you to take up if you’re in that position.

Am I able to lease multiple cars at once?

Yes – because the success of applications is based on your borrowing power and existing borrowing, you can be approved for multiple car leases at any given time. Many businesses lease fleets of cars where they can afford it, so whether you’ll be approved is contingent on how much you can comfortably take on financially.