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You Could SaveTBA / year
Compared to an outright purchase of the with the same full-service package.
Lease RateTBA / week
Using salary sacrificing you could ride this e-bike from just TBA per week.
Without salary sacrificing, the full-service lease rate is TBA per week (incl GST).
At the end of your 5 year lease term, you can hand the bike back to us or buy it outright for TBA.
If you switch from driving, you'll save about TBA per week.
The following comparison is based on full salary sacrificing of the lease payments.
The calculations use the following assumptions
The split between commuting and other use is for your convenience only. It does not determine your eligibility for salary sacrifice.
The amount financed equals the recommended retail price of the ebike and an insurer-approved lock.
The following assumptions have been used in the cost comparison.
- Cash purchase: the same package as the Sparque full-service lease, i.e., including insurance, service and maintenance and roadside assistance is acquired and paid for in cash.
- Myki subscription per day $5.18 (2018 figures)
- 2016 RACV figures for Ford Focus Trend 1.5L Turbo
For the cash purchase comparison, a deposit interest rate of 3% has been used.
ATO ruling CR2020/68 should be used to determine whether your use of the ebike falls within the FBT exemption.
Gross annual income
The number you supplied is treated as gross salary, excluding superannuation and other salary packaging deductions, Medicare levy or HECS liability.
The lease rate includes an indicative insurance premium for your bike and personal injury based on the details you supplied.
The maintenance costs are based on the nominated kilometres. Sparque assumes the risk on these costs, but reserves the right to adjust the costs during the term if the actual kilometres deviate from the nominated kilometres.
Income tax rates for the current financial year are used.
Term of finance
The term of finance is defined by the number of months you supplied. The residual value (inclusive of GST) at the end of the term is set by the ATO and equals
- 56.25% of the retail price (incl GST) for a 1 year term,
- 37.50% for a 2-year term,
- 18.75% for a 3-year term,
- 0% for a 4-year term.