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Novated Leasing

LeaseMasters helps you save on your next car

Make your salary go further with a novated lease

For employees

Are you considering a novated car lease for your next vehicle? Novated leasing in Australia can be a tax effective arrangement for your next car. If you haven't done a novated lease before, you're probably not sure where to begin. There are a few questions you will need to ask yourself.

Firstly, the car - what would you like to lease? You can lease any type of passenger vehicle, new or used, up to 9 years old at the end of the lease. If you have a few cars in mind, we recommend arranging some test drives to narrow down your choice.

Next, ask yourself about your price range. Consider the potential monthly lease payments that you’ll have to deal with. Can your current income support it? If you’re unsure of how your finances stack up, use our free novated lease calculator for more accurate projections.

Lastly, ask yourself about your current driving habits and lifestyle, as well as your location. Living close to the city centre can mean that traffic situations and parking space competition can get out of hand. Choosing a more compact, fuel-efficient vehicle fits this situation well. Or if you live a bit further out and require longer drives, a larger vehicle such as an SUV makes sense.

LeaseMasters can offer you an easy, convenient, flexible and cost effective way to get into a new vehicle. Here are some common questions we get asked:

What is a novated lease?
A novated lease is a tripartite agreement between yourself, your employer and the financier. This arrangement allows you to salary package your vehicle and its running costs from before tax salary, saving you money on income tax.

Can I only lease new cars?
No, novated leasing is not limited to new cars - you can also lease secondhand or existing vehicles, up to 9 years of age.

What does a novated lease include?
Your regular payroll deduction will include registration, insurance, roadside assistance, maintenance, tyres and even fuel - never worry about those annual bills again!

What happens at the end of the lease?
There is a residual (also called balloon) payment due at the end of the lease. This payment is based on the original purchase price and lease term.

You can elect to refinance the residual, pay the residual to own the vehicle outright, or sell/trade in your vehicle to pay out the residual and start a new lease.

What if I change jobs during the lease?
You can take your lease with you and transfer it to your new employer - ensure you negotiate this with your new employer.

How do I get started?
Phone our office to speak to one of our friendly consultants, send us an online enquiry or request a callback via the button at the top of this page.

You can also head on over to our novated lease calculator, and see how much you can save with LeaseMasters.

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