Designed to incorporate a motor vehicle as part of an employee's remuneration

Volvo introduced to the market the 'Volvo Plan' which is today's Novated Lease.

It has become the most popular plan for employees and employers wishing to incorporate a motor vehicle (or vehicles) as part of a remuneration package.

The employee simply enters into a finance lease agreement with Volvo Finance then agrees to a novation of the lease payments, which means your employer will make the lease payments out of your total remuneration.

The employers obligation can be terminated any time following a change of circumstance, i.e. career change, retirement or termination. The responsibility for the lease then reverts to the employe or another Novated Agreement can be signed with your new employer. It's that easy and flexible!

advantages of novated lease

• Choice of motor vehicle
• Control at lease end
• Portability of lease and vehicle
• Option of a higher series motor vehicle
• Improved remuneration package

• Off balance sheet finance
• Better salary packaging options
• Reduced administration
• No residual risk
• No motor vehicle disposal problems

The lease payments and running costs can form part of your total remuneration as a 'salary sacrifice', with personal income tax being applied only to the remaining cash component. You will need your employer's agreement prior to entering into a Volvo Novated Lease.

The Business Manager at your Volvo dealer will be pleased to discuss a Volvo Novated Lease with you and your employer.