Novated leases - Business lending

Novated leases

Convenient banking

ANZ Papua New Guinea understands that most business entities try to provide the best opportunities for their employees. ANZ Papua New Guinea has developed a novated lease: a flexible payment option for a vehicle, for employees.

A novated lease is a type of finance available to employees to acquire a motor vehicle of their preference, as long as they meet the criteria and lending approval.

Features at a glance

Regular payments over an agreed period
Lease terms ranging from one to five years, depending on the type of vehicle (new or second hand)
Minimum amount K15,000, with no maximum loan amount
Variable or fixed interest rates available
Repayments are generally tax deductible.

Benefits

For the employer:

can be used as an attractive part of the employee’s salary package
reduces the time spent on acquisition, management and disposal on the current fleet
efficient use of company expense lines by passing all fleet costs (R&M, fuel, insurance) to employee salary expense
reduces administration time and admin expense
promotes longevity of service and loyalty
engenders ownership
creates wealth creation opportunities for staff
attracts quality employees
improves bottom line.

For the employee:

lease payments are effected pre tax allowing for full allowance utilisation
no deposit
flexible terms
no application forms and waiting time as facilities are all pre-approved
no hassle vehicle acquisition
includes servicing and insurance
fixed interest costs
low one off fee
no restrictions on usage, kilometres or location
opportunity to own the asset at the end of lease
no application forms and waiting time as facilities are all pre-approved
no hassle vehicle acquisition.

Apply now

Apply for finance leasing by:

visiting your local ANZ branch
call +675 321 1079 to speak to a specialist today
sending us an online enquiry.

All lending is subject to ANZ Papua New Guinea’s normal credit approval criteria. Terms and conditions available upon request. Fees and charges apply.