Novated Car Lease

Car loans for employees with salary packaging

A Novated Lease is an agreement between an employee, their employer and a lender. This type of car loan is most suitable for employees who want to finance their vehicle as part of their salary package.

  • Competitive rates & repayments
  • Fast application process – shop like a cash buyer
  • Dealer or private cars

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What is a Novated Lease?

A Novated Lease is a three-way agreement between a lender, employer, and employee. Under a Novated Lease, an employer purchases a vehicle for the employee and then deducts the loan repayments from their pre-tax salary in the form of 'salary sacrificing'.

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Novated Leases have several benefits for both the employer and the employee who enter into the contract. Benefits of Novated Leases for employees include:

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Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.

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What is a Novated Lease?

A Novated Lease is a type of car finance for employees who want to purchase a vehicle as part of their salary package. Under a Novation Lease, there are three people who must come together to initiate the loan, and two documents that must be signed.

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What you need to know about business car loan interest rates

Are you comparing car loan interest rates? Read this first. You may be eligible for a lower rate.

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