What is a Novated Lease?

A novated lease is a finance arrangement used with salary packaging. It simply means that your employer pays for your car lease including you car running costs out of your salary package through a combination of pre-tax and post-tax salary deductions.

A novated lease allows you to drive the Toyota of your choice to suit your lifestyle. And you could save thousands on the purchase price and running costs of a new or used Toyota.

It also offers the convenience of cashless motoring and access to Toyota Finance discount programs, so you’ll receive great deals on finance, fuel, maintenance and repairs.

How does it work?

There are a number of upfront and running costs you can include in a novated lease.

Upfront costs:
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    Car price and accessories
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    Dealer delivery charges
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    First year registration and CTP insurance
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    Purchase stamp duty
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    Novated lease establishment fee
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    Personal Property Security registration fee
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    Luxury Car Tax (if applicable)
Running costs:
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    Mechanical repairs, maintenance and servicing
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    Replacement tyres
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    Fuel
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    Roadside assistance
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    Comprehensive insurance
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    Registration/CTP renewals
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    Tolls
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    Fines
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    Insurance excess

Get a novated lease at your local Toyota dealership

Did you know you can get a novated lease through your local Toyota dealership. Search here to locate your nearest Toyota dealer.

Novated Lease Protection Insurance

Toyota Finance also offers novated lease protection insurance as an optional extra. That way, if you aren’t able to work, your lease will continue to be paid for up to six months, with a hand-back option if you don’t gain employment within that time.

Got more questions about novated leasing

Check out our novated lease FAQs to discover common questions about novated leasing with Toyota Finance.

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