Announcing Oly’s new partnership with Drive
2:45 minute read
Drive is obsessed with cars. Oly is obsessed with cars. So, it just kind of makes sense for the two to team up. After all, once you’ve researched and found the car you’ve always wanted through Drive.com.au, Oly can help get you into the driver’s seat with a novated lease that could save you thousands..
If the world of novated leasing is new to you, fear not; Oly is here to help show you how novated leasing works, and why one might help you pay less tax.
What is a novated lease?
Basically, if you haven’t heard of a novated lease, it’s a way for you to get behind the wheel of a car (which can be either new or used). Using your pre-and post-tax salary to pay for the car (or fully pre-tax for eligible electric vehicles).
Because of how it’s structured, a novated lease could help reduce some of your taxable income. Which means you could be saving stacks on tax.
How does a novated lease work?
It starts with you picking out the car that you want, made easier thanks to Oly’s huge network of trusted car dealers.
From there, you simply apply online to see what your car could cost and how much you could save, and Oly then works with your employer to set up the lease and handle the ongoing payments.
Once everything’s set, you’ll make regular repayments on it. But here’s the kicker: unlike traditional car finance, a novated lease allows you to put some of your pre-tax dollars towards the car and its running costs. Plus, you could also skip upfront GST on cars valued up to $69,674.
If you’re after added convenience, Oly’s got you covered, because these regular novated lease payments also cover most running costs like car related expenses like rego, servicing, tyres and insurance. You’ll even get a fuel card to cover petrol thanks to Oly’s One card. Gotta stay on the go, after all. If you have an EV, you’ll be able to pay for charging through your Oly One card.
Making novated leases accessible to more Aussies
Now, all of this sounds pretty good, right? And the even better news is that Oly’s making novated leasing accessible to more Aussies than ever. What used to be a big‑company perk is no longer just for corporates, Oly works with small and medium businesses to open up this once‑exclusive benefit to far more people. Which means more Aussies like you can get behind the wheel of the car they’ve always wanted… maybe even one you spotted on Drive (hint, hint).
What makes this a great pairing?
Shiraz and red meat. Avocado and brunch. Oly and Drive.
With Oly unlocking the key to novated leasing to more Aussies, and Drive providing the trusted car expertise they rely on, it’s a winning combo. This pairing makes the cars you see on Drive more accessible by unlocking the benefits of novated leasing for more people.
Ready to drive?
You don’t need to work for a big company to get big benefits, but to be eligible for an Oly novated lease you do need to be:
- Employed full-time, part-time or self-employed
- Earning a set salary (AKA not unemployed, retired, or a ride share driver)
- Looking for a car for personal use
Fill out this form to kick things off, then check your inbox for a link to create your Oly login to apply online (hint: check your spam/junk folder).
Things you need to know
This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax and financial advice. Conditions and fees apply, along with credit assessment criteria for lease products. The availability of benefits is subject to your employer’s approval. Oly may pay and/or receive commissions in connection with its services.
Oly One Mastercard
This material is general information only. It does not take into account your personal objectives, financial situation or needs. You should therefore consider the appropriateness of the information in light of your own objectives, financial situation or needs before deciding whether the card (Oly One) is right for you. We recommend you consider the Product Disclosure Statement (PDS) and the Target Market Determination (TMD) before making any decision regarding the new card (Oly One).
Oly One Card is a prepaid, reloadable Mastercard and is issued by EML Payment Solutions Limited ABN 30 131 436 532 AFSL 404131. Oly Pty Ltd ABN 69 674 252 629 is an Authorised Representative of EML Payment Solutions Limited Australian Financial Services Authorised Representative number 1313775 and participates in the promotion and distribution of the Card. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
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