Financial Counsellors Resource Project (FCRP)

ABOUT FCRP

The Financial Counsellors Resource Project (FCRP) provides a support service to Financial Counsellors and Department for Child Protection (DCP) staff in Western Australia.

FCRP commenced operation on 5 June 1990. FCRP is funded by the Australian Government Department of Families, Community Services and Indigenous Affairs; Department for Child Protection; the Law Society of WA – Public Purposes Trust fund; and Lotterywest (one-off grants).

FCRP is managed by a community based management committee, elected annually at the Annual General Meeting.

FCRP’S SERVICES

FCRP provides Financial Counsellors and Department for Child Protection staff with:

  • legal advice
  • casework support meetings
  • collation of information and resources to assist with casework and community education activities
  • regular newsletters
  • resource library
  • information sessions
  • promotion of financial counselling
  • assistance and support of new financial counselling services and staff

In addition:

  • provides contact details of the nearest Financial Counsellor for members of the public.
  • addresses social action

COMPLAINTS

FCRP is committed to ensuring that it gives its clients the best possible service.  If you want to make a complaint you may do so by completing this form.

 

DISCLAIMER

The material on this website is compiled as general information for financial counsellors and Department for Child Protection financial assistance officers in Western Australia.  No person should rely on its information alone as the basis for making financial or legal decisions, but should seek independent advice from a qualified person relating to their own particular circumstances.  The Financial Counsellors Resource Project does not warrant that the information is accurate, complete or up to date and it and its staff and contractors disclaim any liability for any errors or omissions however caused.

Novated Lease Save You Money

How a Novated Lease Can Save You Money

If you are like many people, you might always be looking for ways that you can save money. One option that you might have heard of but that you might not know much about is a novated lease. This is a specific lease arrangement in which you work with your employer to lease a car. Unlike with a traditional car leasing arrangement, however, you will not be the one who makes the payments to the lender. Instead, your employer will make the payments on your behalf, and the money for the payments will come out of your pre-tax income. These are a few reasons why this type of arrangement might save you a lot of money.

Avoid Paying More Taxes Than Necessary

A lot of people find that a significant amount of money comes out of their paycheck each and every pay period. If you are one of these people, you might be wondering if there is a way that you can reduce the amount that you have to pay out in taxes. One such option is by choosing a novated lease https://www.strattonfinance.com.au/novated-lease/novated-lease-salary-packaging.aspx

As mentioned above, the money that is used to pay the payment on your novated lease will come out of your paycheck. However, if you were to make your own lease payments, the money that you would use to pay your payments would be taxed before you ever received it. In fact, this might be the type of situation that you are in right now with your lease or car loan payments. By choosing a novated lease, you will not have to pay out as much in taxes as you do right now. Depending on your income level, this can save you a significant amount of money each year.

Avoid Worrying About the Cost of Car Maintenance

There a couple of different types of novated lease options that you can choose from. Many people find that choosing a novated lease that includes vehicle maintenance is the best step. As you might already know, worrying about things like oil changes can get costly and can be a major pain. Plus, you might find that you have not always budgeted for these things like you should. The good thing about a novated lease that includes maintenance is the fact that the maintenance costs are covered in the cost of the lease. This means that you do not have to worry about them at all. Not only can this save you a lot of money, but it can save you a lot of hassle and stress as well. With this type of arrangement, all you really have to worry about is driving the car. The rest is taken care of by your employer.

If you are looking for ways to cut costs in your budget, looking into this type of lease arrangement can be a wonderful option. If you talk to your employer or someone from your company’s human resources department, you can find out more about this type of lease.

Most Common Car Finance FAQs

The Most Common Car Finance FAQs

When it comes to buying a new or used vehicle it’s likely you will have to set up a car finance schedule in order to afford the purchase. If you have never financed a car in the past, it can be a new and exciting experience. Let’s go over some of the most commonly asked questions about the topic of car finance so that you can get a better idea of how this all works.

What Will I Need For A Car Finance Company?

When you go to apply for an auto loan at a local bank or the dealership, you will need a few things. The lender basically wants to assess your risk, which is how likely you are to pay back the loan. They will require you to give them your personal information, such as your date of birth, full legal name, and your social security number. You will need to supply them with your employment information and, in most cases, they will require a copy of your previous week’s pay stub to verify your income.

How Can You Get A Good Auto Loan Rate?

Stratton Car Loans lenders base their lending decisions on a person’s credit score and history. The best way to get a low-rate on your auto insurance loan is to have a high credit score. There are five main factors that go into your credit score. These include paying your bills on time, having low amounts out on your credit cards, keeping long credit accounts open, having minimal recent inquiries, and having a good mixture of debt types. The higher your credit score, the better your interest rate.

Should I Get My Loan From The Dealer Or A Bank?

There are two different car finance options available for you to take advantage of. These include direct lending from a bank and dealership financing. The best option is going to be different for everyone. When you go to a direct lending source you can shop around for the best rates at different banks. When you finance through the dealership, you can take advantage of special discounts and rebates that are not available to those who refuse dealership car finance.

How Long Is A Car Finance Loan For? 

The length of your car finance loan depends on the specific lender and the terms you agreed to. There is no set number of years or months that a vehicle loan must be set up for. Both direct lenders and dealership financing typically offer between one and five-year financing options.

You should take the time to figure out how much you can comfortably afford to pay each month towards your new vehicle. Depending on the purchase price of the vehicle and the estimated monthly payment range you can afford, your lender should be able to give you the desired number of years that best suits your financing needs. Always ensure that whatever the loan term you are agreeing to, that you can comfortably afford the monthly payments.