Smartgroup has announced a new partnership with BMW Financial Services that will allow customers to complete the entire novated leasing process directly at BMW and MINI dealerships – an Australian industry first.
The collaboration simplifies and speeds up novated leasing, enabling customers to choose a vehicle, arrange finance, and finalise a fully maintained lease all in one visit. This new offering includes bundled running costs – such as fuel, registration, insurance, servicing and tyres – into a single, regular payment, a portion of which is deducted from the employee’s pre-tax salary.
Sid Jha, Group Executive for Novated Leasing & Electric Vehicle Services at Smartgroup, said, “This partnership delivers one of the most affordable ways to own and enjoy a BMW or MINI, while also helping employees take advantage of the tax benefits that come with novated leasing.”
In addition to income tax savings, customers can also benefit from GST exemptions on both the purchase and running costs. For electric vehicles, the tax savings are even greater, with the current Fringe Benefits Tax exemption applying to eligible EVs under the \$91,387 luxury car tax threshold.
May Wong, CEO of BMW Financial Services Australia, said the partnership is about making vehicle ownership more accessible: “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 electric vehicles as their next car.”
The partnership marks another strategic move by Smartgroup to grow its novated leasing business by meeting customers where they shop and reducing complexity in the leasing journey. It also highlights how novated leasing is evolving to support EV adoption through user-friendly, dealership-integrated solutions.
