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what is a novated lease?
A novated lease is a great way to save money but not all novated leases are equal. if paying less for your car, maximising your tax break and mitigating most of your financial risks is important to you, then let us tailor a novated lease package for you!
Everything is prepaid, so you can go out and live life with freedom.
Put simply, a novated lease is an agreement between yourself, a financier, and your employer, that saves gst and income tax. Being a salary packaging benefit you enjoy unlimited private use.
The total of all finance and operating costs are deducted from your gross salary, which in turn reduces the income tax, an exclusive approach that saves a significant amount of money.
Get in touch with us!
how our process works
- 1. Choose your car.
whether it’s a dealer or private sale, get their best written quote. - 2. We negotiate a lower car purchase price.
we’ll negotiate a better price from the dealer with our fleet
buying power and exclusive industry relationships. - 3. Receive a transparent novated lease quote.
now that you’ve got a great deal on your vehicle, it’s time to get
a great deal on your novated lease too. - 4. We take care of the boring paperwork.
upon your acceptance of our market leading novated lease
product, we’ll arrange everything with the dealer on your behalf. - 5. Drive away in your new car.
we present you with the necessary documentation, you sign and
drive away!
calculate your novated lease savings
massive savings on EVs
You can now buy and run an eligible electric vehicle (up to the luxury car tax threshold) through a novated lease and be exempt from fringe benefits tax (FBT).
This supersizes the already considerable savings.
The example shown is the cost of buying and running a Tesla Model 3 RWD over 5 years, compared to using traditional car finance and buying the car outright using cash. (The calculation is based on a driver in NSW with $120,000 pre-tax salary, 15,000km driven annually and car loan interest rate of 7.5% p.a.)
how we’re different
Thanks to our wealth of industry knowledge we are able to offer savings unrivalled by others.
tailored package
we craft a package specifically to your values and needs, so that you can get the most out of our services.
Replacement Policy
unhappy with your car or looking to upgrade? we'll accommodate your requests and re- negotiate your plan in order to set you up with your ideal vehicle.
Fully Transparent
we operate with full transparency to ensure you don't get stuck with hidden fees or taxes.
Same-day Approval
we want to get you on the road as soon as possible, so you don't want to be held up by unnecessary waiting periods.
Flexible Service
we strive to be a helping hand from start to finish. if you're struggling to pay off your loans or need to reshape your package, our team can help.
tax benefits of novated leasing
Unlock the benefits of paying less tax while enjoying incredible deals and seamless budgeting with our novated lease option!
Why not take advantage of a tax-efficient way to lease a car that suits your style? whether it’s brand-new, used, or a car you already own, our novated leasing plan is flexible and ATO-approved.
As a top novated lease provider in australia, we aim to facilitate the process for you to obtain the vehicle you desire! with the added perks of ease and potential tax savings that come with salary packaging a car.
What is a novated lease?
Novated car lease is a smart and efficient way to own a vehicle while enjoying tax benefits and fantastic deals! it’s a three-way agreement between you, your employer, and a finance company, approved by the ato.
with novated leasing, you can conveniently consolidate not just your lease payments, but also all your vehicle’s running expenses — such as fuel, electric vehicle charging, insurance, registration, tyres, servicing & maintenance, car wash and many more — into a single, hassle-free regular payment.
Unlock the benefits of
novated lease
Unleash the various benefits with fingo as your novated lease provider:
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Tax efficiency:
engage in smart tax savings! pay with a combination of pre-tax and post-tax income, effectively reducing your taxable income, and bask in the delight of tax savings. curious about how much you can save? use our comprehensive novated lease calculator and see your estimated savings!
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Flexible vehicle choices:
freedom in your hands! opt for a new, used, or your current vehicle to fit your needs and lifestyle precisely. our car broker can also assist you on sourcing the vehicle.
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Exclusive discounts:
unlock potential discounts on vehicle pricing and insurance. you can also enjoy the added convenience and savings on fuel and other associated costs with our motorpass card.
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Fixed, predictable and flexible payments:
navigate your finances effortlessly with fixed and regular payments that can easily be adjusted based on your requirement and simplifying your budgeting journey.
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Simplified budget management:
say farewell to budgeting woes with consolidated vehicle-related expenses into a single, predictable payment. for a detailed budget plan, fill in our online enquiry form and one of our novated lease specialists will show you your personalised novated lease solution.
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Flexible end-of-lease options:
as the lease concludes, you have the option to purchase, renew, or change the vehicle. for a smooth transition.
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Streamlined administration:
embrace a hassle-free experience with all administrative tasks managed efficiently by the us your novated leasing provider. for administration queries, please contact us online or call 1300 134 646.
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Unlimited vehicle usage:
drive without limits! your leased vehicle is yours to use, both for personal and business adventures.
have more question or ready to start?
For personalized solution and a deep dive into how novated leasing can revolutionize your vehicle ownership experience and know more about novated leasing.
Novated lease vs car loan
| Feature | Novated lease | Car loan |
| Payment method | Payments are made using a combination of pre-tax and post-tax salary, reducing taxable income. | Payments are made using post-tax salary. |
| Vehicle ownership | The financier holds the ownership until the end of the lease. | The borrower becomes the vehicle owner. |
| Tax benefits | Offers potential tax benefits as part of the running costs are paid with pre-tax salary | No tax benefits since payments are made post-tax. |
| Running costs | Can include running costs like insurance, maintenance, fuel, tyres and many more in the lease payments. | Only covers the cost of the vehicle; running costs are separate and paid with post-tax salary. |
| Employer involvement | Requires employer agreement and involvement in the payment process. | Does not involve the employer; the agreement is between the borrower and the financier. |
| Flexibility | Offers flexibility in choosing new, used, or existing cars. | Generally used for new cars, but used cars can be financed too. |
| End of term options | Various options available: purchase the vehicle, start a new lease, payout residual and keep the car | The borrower owns the vehicle outright after the loan is paid off or they can refinance the balloon amount if there is one. |
| Application process | Involves the employee, employer, and financier. | Typically involves just the borrower and financier. |
| Interest rates | May offer competitive rates; varies by financiers. | Interest rates vary by financier and the borrower’s creditworthiness. |
Frequently asked questions (FAQ)
what is a self-managed novated lease?
self-managed novated leasing offers the primary advantage of giving you more control over managing the running costs associated with your vehicle. while you still receive the benefit of making payments with your pre-tax salary, you handle the vehicle-related expenses directly, which may provide additional flexibility and potential savings depending on your personal usage and circumstances.
is it possible to transfer my Novated Lease if I change jobs?
yes, transferring your Novated Lease when moving to a new employer is usually possible. the process involves obtaining agreement from your new employer to continue the salary deductions under the novated leasing arrangement. it’s crucial, however, to consult with your new employer as not all employers may agree to participate in Novated Leasing.
who is eligible for a Novated Lease?
novated Lease Eligibility depends on number of criteria, applicants must be employed full-time or permanent part-time with an employer who supports novated leasing. applicants must be able to make consistent repayments, be at least 18 years old, and not be sole traders. those unable to demonstrate financial stability for repayments or with poor credit scores may be disqualified. For specific eligibility queries, call us on 1300 134 646 or click here to contact our team.
what is the duration of a Novated Lease term?
the term for a Novated Lease typically varies between 1 to 5 years, providing flexibility to choose a term that aligns with your financial planning and vehicle utilisation needs. you have the option to select a term that comfortably fits your budget and preferences for vehicle turnover.
Benefits of a novated lease for employees
- no gst on the purchase price
- no gst on the purchase price
- save on your vehicle running and maintenance costs
- save thousands in income tax
- take your vehicle with you if change jobs
- just one easy monthly payment for all your vehicle expenses
Benefits of a novated lease for employees
- cheaper and easier to manage than providing company cars
- provide a more attractive remuneration package to potential and existing customers
- no residual risk
- lower payroll tax and work cover premiums. no surplus
vehicles if an employee changes jobs - we take care of arranging everything so you can focus
on important business matters