Your novated lease explained


It doesn’t get simpler than a novated lease

  • Tax savings and discounts make every dollar go further 
  • All your car costs, like finance, registration, fuel and servicing, bundled into one regular payment
  • Support every step of the way, from ordering your car to ongoing servicing

We do the legwork, you enjoy the drive

  • The right car sourced for you from Smartleasing's nationwide network of more than 850 dealers
  • Huge buying power can negotiate the best possible price
  • Try before you buy – let us arrange a test drive for you
  • We’ll organise everything for you

Car finance that saves you money

You pay no deposit, no GST on the purchase price of a new car, and save thousands through our trusted dealer network.

There are a number of different ways to pay for a new car, but does one save you more than another? Is it better just to pay cash? And what about taking out a loan against your mortgage?


The following example looks at the costs of purchasing and running a Mazda CX-5 over five years, and how a novated lease compares to other popular forms of car finance.


1 Vehicle price stated includes all NSW on-road costs and government charges. 2 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 an average 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 November 2018 and may be subject to change.