Novated Car Lease

As an employee of a company, you lease a car from us using a Finance Lease. You then sub-lease the car to your employer via an operating lease. Your employer enters an agreement, which makes it responsible for meeting the payments. The ideal arrangement for those who have the option of receiving a car as part of their salary package.

For further information on the tax implications of Novated Lease visit the Australian Tax Office: novated lease.

Who can Benefit from Novated Car Lease?

• Business and corporate professionals who require a flexible leasing package whereby the Employer pays all lease rentals to us and the Employee enjoys full use of the vehicle. A great solution for those who use their vehicle for work purposes and are on salary packaging or a similar arrangement with their employer.

Novated Car Lease Features

• The lease is taken out in your name, your employer signs a novation agreement taking on repayment responsibilities.
• Purchasing a car with a novated lease means you won’t need to use your cash flow to finance the car
• In the event you change companies the vehicle remains yours.
• Your employer pays the lease rentals directly to us.
• Provide your employees with a car is simple and your businesses balance sheet isn’t effected by the novated lease
• You have complete choice what you buy and where from

Novated Car Lease Benefits

• You have the use of the vehicle without having to budget for the repayments.
• You can purchase the vehicle without deposit or the hassle of being reimbursed from your employer.
• The novated lease agreement is set up so that in the event the employee leaves the company; the company is not left with the burden of a car which is no use or old.
• There are numerous tax benefits to the employer as with the Finance lease.
• The employment can make all the choices they wont to customize the car in the novated lease agreement. The can choose the colour, accessories, leather seat and any extras

Novated Car Lease Interest Rates

Natloans has fixed interest rates for novated leases. This means that for the full loan term your interest rate will not change. A fixed interest rate makes budgeting very easy. You use our novated lease calculator to determine your repayments.

Our Rates		The Banks
Cars from	8.27%	ANZ Personal Loan rates from 13.89%†
Bikes from	8.95%*	Westpac Personal Loan rates from 13.89%†
Boat from	8.75%*	CBA Personal Loan rates from 13.80%†
Commercial from	7.75%*	NAB Personal Loan rates from 13.40%†

Novated Car Lease Fees and Charges

• In order to establish the novated lease an you will need to pay an novated lease establishment fee. The fee includes GST.

• There is a cash booklet fee which is apart of the novated lease agreement that needs to be paid This fee also includes GST.

• The monthly novated lease payments will include GST, but these are tax-deductible.

• Please note the fees for a novated lease can’t be included in the finance. They need to be paid when the finance documents are signed.

Novated Car Lease Repayment Schedules

Repayments can be made

• Fortnightly
• Monthly
• Yearly
• Quarterly
• Semi Annually
• Seasonal
• Irregular

Click here to review our Comparison Table of Loan Products

*Terms, fees and conditions apply. To approved applicants only. Rates are guide only and assume clear credit.
†rates advised on their respective websites. Information correct as at 18th of September, 2009