In an innovative collaboration set to reshape novated leasing for those in the market for a new car, leading novated lease provider Smart has joined forces with BMW Financial Services, the finance arm of BMW Group Australia, to streamline and simplify the process for both employees and employers.

For the first time, customers can now complete the entire novated leasing process directly at BMW and MINI dealerships. From selecting a vehicle and arranging finance to signing the lease agreement, every step can now be handled on-site to improve the convenience of the process.

At the heart of the offering is the fully maintained lease, which consolidates all major vehicle running costs – servicing, tyres, registration, insurance, and fuel – into a single, regular payment. Importantly, part of this payment is drawn from the employee’s pre-tax salary, reducing taxable income and unlocking substantial financial savings.

BMW will bring the entire novated leasing process into its dealerships in partnership with Smart

Additional advantages include GST savings on both the vehicle purchase and its running costs, further enhancing affordability.

The benefits are even more compelling for electric vehicle (EV) drivers. Thanks to the current Fringe Benefits Tax (FBT) exemption on eligible EVs priced below the $91,387 luxury car tax threshold, employees can access a cost-effective path to driving electric.

“Today’s customers want simplicity; they want to walk into a dealership and drive away knowing everything, including finance, has been taken care of,” said Sid Jha, Smart’s Group Executive for Novated Leasing & Electric Vehicle Services. “This partnership delivers one of the most affordable ways to own and enjoy a BMW or MINI.”

May Wong, CEO of BMW Financial Services Australia, added: “We’re proud to launch this first-of-its-kind partnership with Smart. By bringing the entire novated leasing process into our dealerships, we’re offering a seamless approach and opening the door for more Australians to enjoy the benefits of BMW and MINI ownership – especially those considering EVs.”

Those considering a novated lease are advised to always seek their own financial advice about their suitability for this form of finance, based on their salary and other financial commitments.

The innovative partnership between Smart and BMW not only enhances convenience but is also designed to encourage smarter, more sustainable vehicle ownership across Australia.