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1300 664 332
Driver LoginGet Quote


Save $1,000s with a novated lease


BRINGING YOU THE BEST DEALS IN NOVATED LEASING


HOW MUCH IS THE CAR YOU WISH TO NOVATE?

Get my price



GET YOUR FREE QUOTE FROM OUR EXPERT TEAM

After receiving this, you'll see why more and more Australians are choosing to
novate their next cars.




WHAT IS A NOVATED LEASE?

A novated lease is the most cost-effective way to acquire and run a car.

It's a three way agreement between you, your employer and Novated Lease
Australia.

A novated lease is an automated discount on your new car - you do not have to
pay the GST on the purchase price of the car, instantly saving you thousands of
dollars.

You can also include all of the running costs of the car, including fuel,
registration, maintenance and insurance. This further increases the huge savings
you can make with a novated lease.


▶



HOW DOES A NOVATED LEASE WORK?

Just like other forms of car finance, there are typically a number of payments
over a fixed term, with a residual (or balloon) payment due at the end of the
lease. Each party to the agreement – employer, employee, and financier – will
play a specific role.

The employer

Agrees to make regular, automated payroll deductions from the employee’s pre-tax
salary. Our expert team helps set everything up.

The employee

Agrees to pre-tax salary deductions, in exchange for the use of the vehicle. The
vehicle can be used for business or entirely for personal use.

The financier

Procures the vehicle, establishes the lease and manages the administrative,
contractual and compliance aspects of the transaction.





HUGE EXTRA EV SAVINGS

You can now buy and run an eligible electric vehicle (up to the luxury car tax
threshold) through a novated lease and be exempt from fringe benefits tax (FBT).

This supersizes the already considerable savings.

The example shown is the cost of buying and running a Tesla Model 3 RWD over 5
years, compared to using traditional car finance and buying the car outright
using cash. (The calculation is based on a driver in NSW with $120,000 pre-tax
salary, 15,000km driven annually and car loan interest rate of 7.5% p.a.)




Thanks to the major fringe benefits tax incentive, EVs and PHEVs are in high
demand. Here are some the most popular eligible vehicles below the luxury car
tax threshold.

 * Tesla – by far Australia's best-selling EV brand, specifically the Model 3
   and Model Y
 * BYD – in particular the Atto 3, the Dolphin and the Seal
 * MG – the HS +EV and ZS are among the most affordable EVs on the road
 * KIA – the EV6 is popular as is the Sorento PHEV
 * Hyundai – the Kona, and Ioniq 5 are in high demand
 * Mitsubishi – the Outlander PHEV 5+2 seater is a family favourite
 * Volvo – notably the XC40 and C40 Recharge.
 * BMW – the iX1's pricing makes it eligible to be FBT-exempt
 * Polestar – A growing brand, particularly the Polestar 2

Browse all models


PRESS GO


ON THAT NEW EV

We also help customers every day with fantastic deals and major tax savings on
Australia's best-selling non-EVs.

 * Ford – the Ranger and Everest are always popular
 * Mazda – in particular the BT-50 (eligible variants) plus SUVs like the CX-9
 * Toyota – we regularly eligible models novate Landcruisers and HiLuxs
   (eligible variants)
 * Nissan – in particular the Patrol and Navara
 * KIA – the family-friendly Carnival, plus the Cerato in hatch and sedan
 * Hyundai – the Tucson and i30 are drivers' favourites
 * Mitsubishi – Australians still love the Pajero and the ever-reliable Triton
 * BMW – the X1 is among the most popular high-end SUVs
 * Volkswagen – of the European cars on Aussie roads, the Amarok and Tiguan are
   firm favourites
 * Isuzu – there's never a shortage of enquiries for the D-MAX (eligible
   variants) and the MU-X

Browse all models


NOVATE


A BESTSELLER


QUICK-FIRE NOVATED LEASE QUESTIONS

Learn more about how a novated lease works from start to finish. Our expert
consultants can also answer any questions, so you can sign up with confidence.

Find my best deal

Is there a minimum salary to get a novated lease?

Novated leasing approval is dependent on your capacity as a borrower much like
traditional finance. This means you need to illustrate your ability to meet
regular repayments over the term of the lease. 

For example, as it is entirely dependent on your personal living situation,
expenses and dependents, you could gain approval for a $30,000 vehicle on a
yearly salary of $45,000.

How long will my novated lease be?

The term of the lease agreement is flexible, to suit the employee.

Generally, terms of one to five years are available under a novated lease. The
shorter the term of the salary packaging agreement, the higher the residual.

What's the minimum and maximum value of car I can get?

The amount you can borrow for a vehicle will vary depending on the lender. In
general, the minimum novated lease amount is between $5,000 and $10,000, while
higher amounts are subject entirely to the repayment capacity of the applicant. 

Novated lease agreements may exceed $100,000 but very rarely exceed $150,000.

Get expert answers to more of the common questions in our novated lease
explained guide.

Can you help me get a novated lease anywhere in Australia?

Yes, our team members are located all throughout Australia.

Our head office is in Sydney and we have further locations in Melbourne, Perth,
Brisbane and Adelaide.

We can help with fully-maintained leases (where we manage the lease from start
to finish) as well as self-managed novated leases.

Can I buy a used car with a novated lease?

Yes, right now, people more than ever are getting used cars through a novated
lease instead of waiting for a new car deal. Buying a used car from a dealership
will still see you save the GST on the purchase price.

Can I get a novated lease if I work for my own company?

Salary sacrificing a car through a novated lease can be suitable for a business
owner who is also an employee of their own company, but it’s only an option if
the business owner is receiving a salary from the company they own.

If you are planning to leave your current employment to start your own business,
you can transfer your novated lease, provided you are paying yourself a salary.

If you are self-employed – i.e. are not paid a salary or paying yourself a
salary through your own company – you will need to look at alternative forms of
vehicle finance.

What happens at the end of a novated lease?

You have a few options available at the end of your novated lease term:

 * Pay the residual amount (including GST) at the end of the lease term to own
   the car outright.
 * Sell the car (either privately or through a dealer) and if the sale price is
   higher than the residual amount owing, you get to keep the profit tax free.
 * If you want to keep the same car and continue enjoying the tax savings, we
   can help you to refinance the residual amount for another term.

What happens if I leave my current job during a novated lease?

If you leave your job during the term of your novated lease, or are fired from
your position by the employer, you will still be responsible for making payments
on the vehicle. 

The lease will be de-novated, where the running costs are removed from the
agreement and repayments work much the same way as a standard car loan. 

GET THE BEST DEAL ON A NOVATED LEASE

Find my best deal


THE MOST POPULAR CARS BEING NOVATED RIGHT NOW




NOVATED LEASE GUIDES

Need more information? Read our easy-to-understand novated lease guides.

Novated leasing explained>Novated Lease FBT >Novated Lease Pros and Cons>Novated
Lease Calculator>What is the residual value on a novated lease?>How do novated
lease interest rates work?>Novated leasing a used car>Salary Sacrifice Car>

Pros and ConsFringe Benefit TaxGuidesGovernment EmployeesNovated Lease
Calculator
Electric CarsManufacturers Tesla novated leaseMG novated leaseBYD novated lease

OUR OFFICE LOCATIONS

NSW

Level 3, 201 Miller St, North Sydney, NSW, 2060, Australia

VIC

Suite 3, Level 2, 1 Taylor Street, Moorabbin, VIC, 3189 Australia

COMPANY

Novated Lease Australia Pty Ltd

ABN: 69 659 639 004

ACN: 659 639 004

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