Novated Leasing is the cheapest, most tax-effective way to own and run a car

It is available to anyone

Anyone can enjoy tax relief from the cost of owning and running a car even if it is used for 100% private use. Whether new, used or even the car you currently own, regardless of how many kilometers you drive, if you are an employee paying tax you too can take full advantage.

It’s effectively cheaper than Free Money!

Once you combine the income tax savings, GST savings and fleet discounts, novated leasing outperforms any other car buying or financing option – even a 0% car loan doesn’t compete! Try our Novated Lease Calculator to compare.

Savings are not just on the car

You avoid GST, reduce your income tax and no FBT on your running costs means tax free motoring. Depending on your tax marginal rate, the net effective cost of fuel can be reduced by up to 50%.

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Annual saving compared to a conventional car lease with the same interest rate and residual value(see notes at bottom of page)Go Advanced

Novated Lease Facts

Is powered by FINCAR, Australia’s #1 boutique vehicle finance company, established in 2004

Our History & Philosophy

We are a privately owned Australian company that has grown to be one of the industry leaders yet still remain small enough to care and deliver good old fashioned service. Established in 2004 we have financed over 5,000 vehicles. With a focus on your needs and circumstances we help you understand your options to save both time and money. We provide you with all you need to compare your options and enable you to make your own informed decisions.

What they say about us!

  • Thanks for all your help. I would highly recommend your service to any of my family and friends.

    Leana - Newcastle

  • It is really nice to deal with someone who knows what they are talking about, can explain it to someone who doesn't and has a good sense of humour. Most people I have dealt with when I comes to finance have the personality of a retarded sloth.

    Tristan - Albury

  • Fincar make it really easy to understand and demonstrate clearly the advantages and value of novating. For me it was simply a no brainer.

    Meg - Perth

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How it Works

Choose your car

Step 1. You choose the car you would like to drive, new or used. You can find the car yourself or let FINCAR source the car with HUGE fleet discounts. If you already have an existing car we can even package that.

Running costs bundled

Step 2. We calculate how much it is going to cost to run your car including fuel, maintenance, tyres, insurance and registration and provide you with itemised quote.

Lease agreement set up

Step 3. We advise your employer of how much to deduct from your pay before tax to cover all costs associated with running your car and a little after tax negating FBT. The deductions remain unchanged and consistent throughout your lease.

Enjoy the savings & convenience

Step 4. Your employer passes the deductions onto us and we manage the lease on your behalf. We provide you with a fuel card, we book and pay for all your service and maintenance needs, ensure your insurance premiums are paid and up to date, renew and pay for your registration and more.

Frequently asked questions

We cover the most common questions on novated leasing below but if you have more, make sure you get in touch!

The calculator above says by novating, I’ll save over $4,000 every year. Is this even legal?

Yes it certainly is!  The savings are a combination of income tax savings (you make the repayments pre-tax) , GST savings (GST is claimed as input tax credits by your employer) and fleet discount savings (tapping into our buying power will save you thousands alone).  It’s all completely legal and sanctioned by the ATO

I thought you had to drive over a certain amount of kilometers to benefit?

In the past, a novated lease salary package arrangement had greater tax advantages for those who drove over 25,000kms per year. However, this all changed recently, since April 2014 everyone now gets the same benefit regardless of kilometers driven. With low kilometers drivers now incentivised the appeal of a novated lease has grown rapidly.

Isn’t it cheaper to redraw on the mortgage?

Nope, novated leasing out performs any alternative method of funding, we can prove it, try our fully maintained novated lease calculator to review and calculate an accurate comparison to any other possible method of funding.

How does my employer know how much to deduct?

We calculate this accurately and advise your employer of how much to deduct from your pay pre-tax, commonly known as a salary sacrifice. There is also a little post-tax deduction also advised to negate FBT. These deductions remain exactly the same throughout your novated car lease unless any mid lease changes are required i.e. if you move house we many need to recalculate your budgets up or down with the changing needs of your travel.

What if I leave my employer?

Novated leasing is portable and easy to transfer to a new employer. We take care of it all so it is hassle free for you and easy for your new employer.

Doesn’t FBT kill the benefit?

No, not at all, with 100% of the vehicles running costs completely tax free, (no GST, no FBT and no income tax), 80% of the vehicles value paid for pre-tax and 20% paid for post-tax negating FBT there simply is no cheaper more tax effective way to own and run a private motor car than novating your lease.

Why Fincar?

Novated leasing companies are not all the same, novated leasing is what we excel at, it is what we are best at, it is our specialisation. When you engage with Fincar you will will have your very own specialist assigned as your single point of contact. As a finance brokerage house we negotiate the very best lease rates from top tier lenders like St George, ANZ, Macquarie, Commbank to name just a few and with a network of over 1200 new car dealerships nationwide we find the very best national fleet discounts available.

Do I have to use the car for work?

No, 100% private use is perfectly fine, there is no requirement on how the vehicle is used or who it is used by, in fact many novate a second family car.

So pretty much anyone with an income and need of a car can benefit?

Yep – new or used, business or 100% private use it doesn’t matter. You can bring your own car or we can buy one for you with a national fleet discount. As long as you drive a car and are paying income tax, we can run the numbers and show you how much you’ll save, try our novated lease calculator

I don’t drive many kilometers can I still save?

Absolutely, in fact you are likely to make money as well as save money. If you drive Toyota, Honda, Subaru, VW or any other brand with a good market resale value and keep it in good condition it is likely that with low kilometers it will be worth more than the residual payout, if you decide to renew your car you pick up that difference tax free.

Do I need my employers’ permission?

Yes, as they will be an integral part of the agreement, no matter the size your workplace we can explain and set it up so there’s zero hassle for your company. After all, they benefit too being able to offer employees a huge financial benefit AND, they will also save directly on their payroll tax.

What happens at the end of the lease?

We will connect with you in good time before your novated lease ends to explain your options but essentially you have 3 options. 1. You can release 2. payout your lease or 3. renew your car and lease, all things being equal you can be in a brand new car every few years continue paying what you have been used to all along.

What happens if I drive more kilometers or less kilometers than I budgeted for in my lease?

If you drive more kilometers we may need to recalculate your lease to accommodate for the additional travel costs, if you drive less we can recalculate your lease at any time to bring it back into balance and any unused budget such as fuel is re-credited back to at the end of lease, with a novated lease you only spend what you use pre-tax.

How do I pay for fuel and servicing?

In few words you don’t, novated leasing if for you cashless motoring. We provide you with fuel cards so no need to use your credit or debit cards. When it comes to service and maintenance needs just give us a call, we will arrange everything and pay the provider directly, in fact we will pay for all of your service and supply needs, keep rego renewed, insurances up to date and more. Novated leasing is not only the cheapest most tax effective way to own and run a car it is the easiest and most convenient.

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Finance companies we work with..

As a finance broker, we can access the best rate funds from a range of lenders