A Novated Lease is a three-way agreement between:

1. A car financier

2. Your Employer

3. An Employee (you)

You obtain Car Finance for a car of your choice from the Finance provider, for a fixed period of time. Your employer then takes the repayments out of you "pre tax" salary, doing a "salary sacrifice", thus reducing your taxable income. While the contract for the finance is between you and the finance provider, if you change jobs, you take your Novated Lease and your car with you.

At the end of the term of the Novated Lease you have the option to purchase the car for a set residual, or you can sell or trade. If you find you make a profit from selling the car, then it's your's to keep!

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