Novated Lease

Novated Lease

If your employer gives you the option to salary package your car, a novated lease is usually the best finance option. With a novated lease, the choice of car and dealership is up to you. The financier simply acquires the car on your behalf and then you lease it from them.

You novate the lease to your employer, who takes on all your rights and obligations under the lease, including the responsibility of meeting the lease rentals.

The contract is in your name and you remain the registered owner throughout the lease. If you leave the company, you keep the vehicle and take over the payments or get your new employer to make the payments.

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