Used car novated leasing.
Did you know you can even turn your existing car into a novated lease and take advantage of the tax and GST benefits?
Four ways to novate a used car.
A used vehicle from a motor dealer
Found it on a yard? We arrange the lease and bundle the running costs in.
A private sale vehicle
Buying from a private seller works too. You negotiate the price, we do the rest.
Refinance your existing loan
Easily convert your existing car loan to a novated lease.
Sale & leaseback
Sale & leaseback your existing vehicle to take advantage of current tax benefits.
Why turn to a novated lease?
Reduce costs. Save tax.
Reduce the cost of ownership of your vehicle. Save on GST and tax on your running costs.
Employer options
Choose the car you want and take it with you to your next job if you change employers.
Flexible Visa card
No fees. No fuel surcharge. Simply fill up where you want, when you want.
Budget-friendly convenience
All the running costs of your vehicle bundled into one easy deduction from your pay.
What happens at the end of the term?
You choose. At the end of your lease you can:
- Upgrade your vehicle
- Extend your current package for another term
- Pay out the remaining residual
- Own the vehicle outright with the Residual-Free option
Already know what used car you want to buy?
Use our novated lease calculator for an instant quote.
There are some restrictions on what used vehicle you can buy. The vehicle has to be considered a passenger car, so cars such as Cab Chassis 4×2 utes, mini buses and some dual cabs with a payload over one tonne are excluded.
Lease terms vary from 12 to 60 months and should be matched to the desired length of time that you wish to keep the car. We have lenders that can accept vehicles that are up to 15 years of age at the end of term.
We have lenders that can accept vehicles up to 15 years of age at the end of term, giving you the ability to purchase a ten-year-old vehicle and still do a 5-year lease term.
There is no strict limit on the kilometres on the odometer, but the vehicle does need to meet market value for age, kilometres and condition.
Yes. It is best to negotiate the vehicle purchase price with the seller, be it a dealer or private seller.
When setting up a used vehicle for a novated lease it is best if we know information such as its current odometer reading and condition, so that we can budget correctly for items such as servicing and tyres.
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Common misconceptions around residual values and novated leasing?
Common misconceptions about residual values on a novated lease, including who owns the car, selling it, and your options as the lease term ends.
What happens at the end of a novated lease
Your options when a novated lease ends, whether you refinance and keep the car, trade it in for a new one, or pay out the residual and own it.
Pick whichever feels right.
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Plain-English answers to the things people actually ask.
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