What is a novated lease?

A novated lease is one of the easiest and most cost-effective ways to buy and own a car, and you don’t need to be earning a senior executive salary!

  • Enjoy tax savings and discounts on your car and related running expenses
  • Bundle finance and running costs into one easy payment on payday
  • Lease a new, used or even your current car
  • Choose the lease term that suits your budget, from one to five years
  • Save time and money using our car buying service

Can novated leasing be cheaper than a car loan or cash?

Yes. By not using your savings or taking out a car loan, you could save up to $12,000 over the life of the lease.

View the infographic below, to learn more about how novated leasing compares to other forms of finance.

Here's how we saved Dianne from Canterbury $7,754 on the purchase price of her new Golf.


With the $3,750 dealer discount Smartleasing negotiated on Dianne's behalf, PLUS the 10% GST she won’t be paying on her new car, Dianne has saved $7,754 on the price of her new Golf. Best of all, with Smartleasing, Dianne is set to save thousands more over the life of her lease.



No hassles, we do the legwork for you


  • We source the car you want from our nationwide network of more than 800 dealers
  • We use our huge buying power to negotiate our best possible price for you
  • We arrange test drives with our trusted network, so you never need to deal with pushy sales people
  • We coordinate your salary deductions
  • We pay your finance and running expenses
  • We're a one-stop-shop for all your services and insurance

  • Am I eligible for a novated lease?

    If your employer offers novated leasing, and you’re a permanent employee, you’ll be eligible to apply for a novated lease.

    If you already salary package with Smartsalary, log in to your Smartsalary account to see what else you can salary package, or give Smartleasing a call: 1300 144 873.

  • Enjoy more of your income

    • Reduce your taxable income
    • Get taxed at a lower amount
    • Approved by the ATO

    Salary package your peace of mind: Check out our services and the optional extras that help look after you on and off the road.

*Savings example is indicative only and is based on the following assumptions: living in NSW 2123, salary: $70,000 gross p.a., travelling 15,000 kms p.a., lease term: 48 months. The purchase price discount represents a typical saving and is compared to the manufacturer’s on-road price of the new vehicle. All tax savings calculations include budgets for fuel, servicing, tyres, maintenance and re-registration over the period of the lease. These calculations also include comprehensive motor insurance, 2 year extended warranty and gold aftermarket pack, which includes window tint as part of the offer. The total amount saved is a comparison to financing the purchase price of the vehicle over 4 years and paying for all running and maintenance costs out of your post-tax earnings. Your actual savings will depend on your income tax bracket, the GST processing method nominated by your employer, administration fees payable under your employer’s salary packaging plan, the negotiated Smartleasing discount on your chosen vehicle and your personal circumstances. The vehicle price stated for CX-5 Maxx Sport 2.5i AWD is correct as of September 2016 and may be subject to change. Vehicle price stated includes all NSW on-road costs and government charges, and excludes gold aftermarket pack.

^ Vehicle price stated includes all NSW on-road costs and government charges.

† Total cost over life, where life represents 5 years. All calculations based on the following assumptions: living in NSW 2000, salary: $70,000 gross p.a., travelling 15,000 kms p.a., lease term: 60 months. Figures quoted include budgets for finance, fuel, servicing, tyres, maintenance, Vero by Suncorp comprehensive motor insurance and re-registration. Novated lease calculations: use Net GST processing method and Employee Contribution Method for FBT purposes; the total cost over life reflects the net effect after tax and includes a Smartleasing admin fee; the Smartleasing buying power discount varies by vehicle and is subject to change; residual value is $9,268.04 including GST at the end of the lease term (the vehicle can be sold or re-leased to payout the residual at end of the lease term). Interest rate quoted for novated lease is 9.85% p.a. vs 10% p.a. for car loan vs. 4.14% p.a. for mortgage loan. Total cost over life for a mortgage loan reflects borrowing the purchase cost of the car against the mortgage and accelerating the payments to offset the change in interest charged and paying this additional amount off over 5 years. Essentially a car loan at 4.14% p.a.

Vehicle pricing and finance rates are correct as of October 2018 and may be subject to change.