At BOQ Finance, we proactively partner with novated leasing providers to deliver the best possible finance experience.
Our goal is to provide a simple way for your employer customers to offer novated lease finance as part of your salary package solution to their employee to purchase a vehicle for work. BOQ Finance's novated leasing solution helps them get the car they want with less impact on their cash flow – and yours.
Benefits at a glance:
Tax-effective driving made simple
Novated leases are an increasingly popular staff benefit for Australian employees. Partnering with BOQ Finance helps you provide a tax-effective salary sacrificing solution that’s easy for employees and their employers.
Tailored to meet your customers’ needs
We understand that every customer has unique requirements. That's why our novated leasing options are designed to be flexible and accommodate a range of needs and preferences.
Digital touch
Our online platform enables integration with Novated Leasing providers, allowing for the submission of digital applications that reduce processing times and prevent duplicate data entry. Leveraging our industry experience, we remain agile and committed to achieving the best results for our customers and partners.
Access to dedicated training and support
Our team is committed to supporting you. We partner with you to understand your industry and requirements, together with your customer needs. We’re also here to answer your questions, and provide assistance when you need it.
What's on offer:
- Available to customers of approved novated partners
- All purchase finance and payments are made from pre-tax salary
- Flexible lease terms of 1 to 5 years
- Applies to new and used vehicles
- You may be able to offer the customer the option to purchase the vehicle at the end of the term. BOQ Finance will own the car, but the customer can offer to buy it at the end of the term.
*Subject to lending criteria and credit assessment
How it works:
BOQ Finance novated leasing solution allows you, the third party, to lease a vehicle to individuals through their employer under a salary packaging arrangement. The employee leases a vehicle, and the employer facilitates the lease payments by deducting them from the employee's pre-tax salary, these payments are collected by you and are passed onto BOQ Finance. At the end of the lease term, the customer can offer to purchase the asset.
Here’s what the process looks like:
Step 1:
Customer enquires through their employer about salary packaged novated lease options.
Step 2:
You salary package the novated lease and give the customer a quote, to which the customer agrees and completes an application form.
Step 3:
You send the completed application to BOQ Finance through our online system for assessment and if approved, we send you the approval advice.
Step 4:
As soon as the vehicle is ready for delivery, you upload the signed documents ready for settlement and the customer is allowed the use of the vehicle.
Step 5:
The employer makes lease repayments to you from the customer’s pre-tax salary over the agreed term.
Step 6:
You collect the lease repayments and pass these on to BOQ Finance.
