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About the car novated lease

Features

Employees lease a motor vehicle of their choice and their employer agrees to pay the rentals and other running costs directly from their gross salary. Features include:

  • Terms ranging from two to five years
  • $10,000 minimum novated lease amount
  • Interest rate and repayments fixed for contract term
  • Leases can be structured as either a finance lease or operating lease
  • Leases can include the option of vehicle maintenance and acquisition through sgfleet
  • Lease is portable – employees can take the vehicle with them if they change employers 

Benefits

  • Cost-effective alternative to operating a fleet of company vehicles
  • Vehicles are off balance sheet, meaning no liability for employers
  • Time and vehicle-management costs are not the employer’s responsibility
  • May be employee tax advantages. Professional advice should be sought  

Related products

Fleet lease

Choose from a wide range of fleet management and salary sacrifice programs to take the pain out of managing corporate vehicles.  

Learn more

Finance lease

Lease the vehicle you need with no upfront deposit and flexible terms to match your cash flow requirements. The Bank owns the vehicle during the lease agreement. 

Learn more

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Important information

As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. Applications are subject to the Bank’s normal credit approval. Fees and charges are payable.

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