Help & support
A novated lease is a way you can finance a new or used car through salary sacrifice.
With a novated lease, the lease arrangement is made with your employer, so the repayments are taken directly from your pre-tax salary.
Payments are taken from your pre-tax salary by your employer. Choose to pay monthly or quarterly over a term of 2 to 5 years.
Take out a minimum $20,000 loan with no maximum amount.
We’ll own the car and you can offer to buy it at the end of your lease agreement.
If you move employers, the lease and vehicle move with you (if your new employer agrees).
Giving employees the opportunity to buy a car with pre-tax income may increase their take home pay.
Salary packaged vehicles are neither an asset or a liability, so there’s no impact on your balance sheet. Plus, if your employee leaves, the lease is theirs.
Fixed interest rates and repayments for the term of your loan. Get a fast online quote to see how much your interest rates and repayments will be.
Apply in 4 easy steps.
Calculate your monthly repayments and get a breakdown of your costs and interest. We'll need some details about the vehicle, as well as the loan amount.
Eligible CommBank customers can receive a conditional credit decision online. Otherwise we’ll call you to process your application.
Once approved, you can sign your finance agreement online with our SmartSign paperless technology.
If approved, we’ll pay your supplier promptly after you've signed your agreement online.
Pros of a novated lease:
Cons a novated lease:
Read more about the pros and cons of a novated lease.
Salary sacrifice is an arrangement between you and your employer. When you enter into a salary sacrifice arrangement, your employer makes repayments to your financial provider on your behalf from your pre-tax salary.
Yes. You can get a novated lease for new and used cars.
What to consider with a novated lease
If you’re an employee and are looking to buy a car, a novated lease arrangement could put you in the driver’s seat and save you money in the process.
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The information on this page is for general information purposes only and has been prepared without considering your objectives, financial situation or needs. You should, before acting on the information, consider its appropriateness to your circumstances.
Applications are subject to the Bank’s normal credit approval and suitability of the asset. Fees, charges and conditions apply. Full terms and conditions will be provided with any agreement upon credit approval.
Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information.
