Novated Lease FAQ

Yes, they do, a lot of money too. From the moment you decide on the car you start saving. You won’t pay GST on the car (excluding private sale and sale and leaseback), so immediately you are saving up to $5,214. You don’t pay GST on your finance and running costs either which will be a further 10% saving.

We will also get you fantastic savings on the price of a new car by giving you access to Corporate Fleet Discounts, again saving you multiple thousands of dollars.

By recovering money from your Pre-Tax Salary, you won't be paying as much income tax.

If you sell the car for more than the Residual Value, you get to keep that profit Tax-Free.

With all Novated Leases, there will be a residual value (balloon payment) at the end of the lease term. Over 80% of our clients use our services to trade in their cars and step right into a brand-new car.

If you are enjoying your current car too much to say goodbye to it, we can extend your lease up to a maximum of 5 years (depending on the age of the car).

If you want to take a break from Novated Leasing, you can choose to purchase the car at the end of the lease term by paying the residual value.

Every single application is processed on its merit alone. If you are unsure about your current credit situation, give us a call and let's talk about it. We ensure that we have an open dialog with the Financiers credit team because let's be honest - we are all human.

Throughout the lease term, the car will always be registered in your name - if you change employers you take the car with you.

It is possible to own the vehicle at the end of the lease, simply by paying out the Residual Value. Keep in mind if you payout the lease you won't receive the awesome Tax Benefits of a Novated Lease.

Our Novated Leases are carefully designed so you don’t have to pay any FBT. ProNovate uses the Employee Contribution Method to ensure that your employer collects a small amount from your post-tax dollars, which means you won’t get a nasty FBT bill.

Whilst we can help you get huge discounts on new cars; you can choose from any new or used car you would like. We can’t source used cars for you but once you find the car you would like; we can engage with the dealership for a better price. It also means that the dealership won’t be hassling you as we become their main point of contact.

You can also refinance your current car. If you have finance on your car and would like to take advantage of the wonderful benefits of a Novated Lease, we will simply refinance the outstanding amount.

The car can’t be older than 10 years (based on build date) at the end of the lease. Our highly-trained consultants will make sure we set a lease term that is tailored to your needs.

The odometer can’t be forecasted to be greater than 200,000km’s at the end of the lease term.

We can only pack so much into a Novated Lease that we have to say no to a few things. These include

  • Tolls
  • Parking Costs
  • Parking Fines
  • Infringements

Of course, you can. Our consultants will guide you through the process, meaning less stress and more savings.

The typical timeframe is 1 to 2 weeks, usually depending on when the dealer will have the car available for you to pick up, however, we have been known to turn it all around in 48 hours.

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