Can you transfer a novated lease to another employer?
A novated lease is a three-way agreement between you, your employer, and the finance/lease company. Because your employer is part of the contract (they handle the salary packaging), you can’t just “transfer” it like a normal loan. Here’s how it typically works when you change jobs: If your new employer offers novated leasing: You can … <a href="https://www.fingo.com.au/faq/can-you-transfer-a-novated-lease-to-another-employer/">Continued</a>
Can I transfer a novated lease to another person?
Yes, it is possible, but the process depends on several key factors, including the terms of your existing novated lease, your employer’s agreement, and the policies of your lease provider.
What happens to the lease if I change jobs?
You can often transfer it to a new employer or convert it to a finance lease make direct payments.
What happens if I leave my job during the lease term?
You become responsible for payments. You may transfer the lease to a new employer or convert it to a finance lease.
What happens at the end of a novated lease?
You refinance the lease, pay the residual to own it or sell it and upgrade to a new one.