Novated Leasing
A better way for your employees to get into their next car
In addition to our comprehensive fleet management services, we offer a high quality novated leasing service through our sister company Maxxia. A novated lease helps make it easy for your employees to secure their next car while potentially saving money through reduced tax. They could also save on the car’s purchase price and regular running costs.
What is novated leasing?
Novated leasing is an employee benefit that delivers potential tax savings and budget convenience to employees.
Offer employees a tax-effective way to lease and run a car, including Electric Vehicles. A novated lease is one way to support employees to ease the cost of living pressures that are impacting financial wellbeing.
What’s included in a novated lease?
- A simple payment process that deducts repayments directly from employee's pre-tax salary.
- Most associated running costs of the vehicle including insurances, maintenance and repairs, tyre replacements, registration renewals and fuel.
- Management of your employees’ novated lease accounts to minimise your FBT exposure.
- Direct engagement with employees in the event of error or shortfall.
- Day-to-day support from a dedicated relationship manager.
- Program and policy design, implementation and transition support.
Novated leasing FAQs
Interested in leasing?
Does Interleasing provide novated leasing?
What is the benefit of a novated lease?
How is a novated budget calculated?
What happens at the end of the lease?
Near the end of your lease – usually six months prior to the end of the lease – we will contact you to discuss your options, which include:
- Paying the amount owed and keeping the car
- Refinancing the car (conditions may apply if the car is more than seven years old at the end of the lease, or valued at below $5,000)
- Upgrading to a new car (we can assist in trading in your current vehicle to payout the amount owing)
- Sell the car and pay off the remaining amount owing
Prior to the end of your lease you will receive an email from us that provides information regarding your novated lease account, your options, and the residual payment you will need to make to your financier, as well as next steps.
What is the approval process?
What information do I need before I call to enquire about novated leasing?
It’s usually a good idea to have at your disposal:
- Registration and odometer reading of your current car (if you have one);
- An idea of the make and model of the car you want;
- Approximation of your current car’s running costs;
- How many kilometres you think you’ll travel each year;
- Your employer and annual income.
