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Equipment Novated Lease

A novated lease combines many features of more traditional forms of equipment finance to deliver some attractive benefits for both employers and employees.

A novated lease has become an increasingly popular form of equipment financing over recent years. A novated lease will suit any employee who wants to include a vehicle as part of their salary package, so long as their employer offers salary packaging as an option for employees.

How does an Equipment Novated Lease work?

  • A novated lease is an agreement between your employer, yourself (the employee) and the financier, where the obligation to meet the repayments under the finance lease is with the employer.
  • Under this arrangement, the employer pays the repayments on behalf of the employee,, and provides the vehicle for the employee to use as part of their salary packaging arrangement.
  • If an 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.

Calculators

What are my repayments?

How much can I borrow?

At today's lowest equipment finance rate of 3.99%,

you will pay approximately ...

$136.08
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At today's lowest equipment finance rate of 3.99%,

you can borrow approximately ...

$29,394.39
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The information which you calculate from this Calculator is intended for use by you as a guide only. See more in our Disclaimer.

It is not an offer and has no legal effect on any contracts entered into by you ‘ the client’. This simulation and the resulting calculations do not constitute a loan application or offer. The figures and formulae used within this calculator may change at any time without notice.Should you apply for any Credit One product, we will make our own calculations and we will not necessarily take your calculations into account. All Interest rates are displayed ‘are guides ONLY’, repayments as a result of this simulation have no legal offering.Credit One accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculator.Information provided on this calculator does not constitute an offer of finance. Any loan request is subject to assessment against normal lending criteria. Fees and charges may apply. This calculation does not take into account any fees, charges or government taxes which may apply to either the calculation of the loan amount or the monthly repayments, such as GST or Luxury Car Tax (where applicable).

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