An associate lease is a three way agreement between an employer, employee and an employee’s associate, normally a spouse, parent, sibling or child. The associate owns the vehicle and leases it to the employer for an agreed lease payment. The employer then provides the vehicle to the employee in exchange for salary deductions. The deductions are passed onto us to fund operating costs and pay the associate a rental for use of the vehicle.
A fully maintained associate lease includes vehicle operating costs as well as associate lease repayments.
The following items are included in an associate lease:
-
Vehicle lease and operating costs deducted from pre-tax and/or post tax salary – discounted pricing available through our national buying power
-
Electronic lease payments to your associate
-
Emergency roadside assistance – 24/7
-
Fuel card – allowance for nominated kilometres at discounted rates
-
Tyres and servicing – discounted rates
-
Vehicle insurance – your choice of insurer
-
Registration renewal
-
management fee
-
FBT liability
Advantages of a Direct Salary Packaging Associate lease:
-
Expert advice on vehicle selection, residual values and optimum retention periods
-
Pre-approval servicing facility
-
Online reports
-
Flexible reimbursement process for selected out-of-pocket expenses
Contact us to determine if this product would benefit you.