Hyundai Capital Australia and Smart launch on‑dealership novated leasing to cut customers’ vehicle financing costs
Executive summary: Hyundai Capital Australia and Smart announced a novated leasing offering that can be accessed at dealerships for onsite customer savings. The program streamlines vehicle financing, providing tax‑advantaged lease payments at the point of sale, which can improve affordability for consumers and boost dealership sales conversion.
Who is involved: Hyundai Capital Australia (the financing arm of Hyundai), Smart (the novated leasing technology/provider), and participating automotive dealerships.
Likely next: Expansion to additional dealer networks, possible adoption by other automotive financiers, and monitoring of uptake and any related tax‑authority guidance.
Hyundai Capital Australia and the fintech Smart have announced a novated leasing program that will be available directly at participating dealerships. The arrangement lets employees secure a vehicle lease with pre‑tax salary deductions, delivering immediate savings at the point of sale. By integrating the financing option into the dealership flow, the partnership aims to simplify the purchase process and potentially increase conversion rates for Hyundai vehicles.
Timeline
- — Smart and Hyundai Capital Australia bring novated leasing to dealerships for onsite customer savings (GlobeNewswire)
Analysis — what this means
Sectors affected
- Automotive financing
- Novated leasing services
- Dealership retail