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A Novated Lease is a car finance or vehicle finance term used when the payment for the car is packaged as a part of the employee's salary. The employer pays the lease payment directly to the funder directly form the employee's pre tax income.

A Novated Lease can be a tax-effective way to purchase a car,But this doe's depend on a range of factors including the car model, annual kilometres traveled, and employee's salary.

Always speak to a tax professional to identify what your individual benefits would be in regards to your car lease.

A Novated Lease is available to individuals, individual business professionals, government employee's, partnerships or companies, and can be used to purchase motor vehicles.

Simply put a Novated Lease is a three-way agreement between an employer, employee and the funder or credit provider. The employee or individual enters into a Novated Lease agreement. The employer takes on the responsablilty to make the payments to the lender or credit provider on the employee's behalf.

The employee has full use of the vehicle, but gains a benefit by salary packaging there payments. If employment ends for any reason. Or the Novated Lease agreement is finalised, the novation is terminated.

The employee then assumes responsability for the payments on the vehicle and the employer who signed the novated lease agreement is then released from there obligations.

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Pre-Approval