A novated lease is financing by way of salary packaging through your employer. The lease payments are the responsibility of your employer whilst in their employ, however, once employment is terminated the lease payments become the responsibility of the employee.

By salary packaging your vehicle the lease payments are made from your pre-tax income, thus providing you with reduced tax. You also have the option to take out a fully maintained novated lease whereby the running expenses such as fuel and servicing are also paid from your pre-tax income.