Fully Maintained Novated Lease
A fully maintained novated lease is nearly the same as a standard novated lease except all the motor vehicle running expenses such as petrol, rego, car insurance, maintenance are included in the monthly lease payment.
How It Works
Under this arrangement, the employer pays the monthly lease rentals on behalf of the employee, and provides the vehicle for the employee to use as part of their salary packaging arrangement. When the vehicle requires fuel or maintenance, the employee pays for these with a fuel card or by arrangement with a Stratton Fleet Services consultant.
If employment ceases for any reason, or the lease agreement is finalised, the Novation ceases and the obligations assumed by the employer revert back to the employee.
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