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Novated Lease

What is a Novated Lease?

A novated lease is essentially a 3 way agreement that can be both beneficial for your employer and you, the employee. Novated leases are a very affordable way for Australians to finance a vehicle.

This type of agreement is between yourself, your employer and 360 Financial Services and is a viable option when you are using your vehicle predominantly for business purposes.

Note: With changes to the Fringe Benefits Tax rules, a Novated Lease might not be suitable for everyone. Please seek professional financial advise before choosing this option to finance your next vehicle.

How does a novated lease work?

In a novated lease agreement, your employer will pay the monthly car lease rentals on your behalf, and will provide the vehicle for you to use as part of a salary packaging arrangement.

Benefits of a Novated Lease

  • GST Savings by including the purchase price and running costs into pre-tax dollars
  • Fixed interest rates & repayments for the life of the loan
  • Portable from one employer to the next, subject to the acceptance of your new employer
  • Simplicity of one monthly repayment
  • Lower interest rates due to the vehicle lease being secured against the vehicle
  • We can have you in your vehicle within 24 to 48 hours
  • Flexible lease terms ranging from 12 to 60 months

If you would like to know more about Novated Lease or any of our other Business Car Loan & Business Car Finance products call us on 1300 361 360 and one of our experienced Finance Consultants will provide you with the right solution for your needs.

You can also Apply Online and one of our Finance Consultants will call you back shortly.

Residuals and terms

Minimum Leasing Residuals

Term (Months) 36 48 60
Amount (%) 45.00 35.00 25.00

Minimum ATO Leasing Residuals

Term (Months) 36 48 60
Amount (%) 46.88 36.50 28.13

Maximum Leasing Residuals

Mercedes, Lexus, Volkswagen, Audi, Range Rover, Jaguar, Volvo, Alfa Romeo

Term (Months) 36 48 60
Amount (%) 60.00 55.00 50.00

Holden, Ford, Toyota, Mazda, other non exotic

Term (Months) 36 48 60
Amount (%) 55.00 50.00 45.00


Term (Months) 36 48 60
Amount (%) 65.00 60.00 55.00


Term (Months) 36 48 60
Amount (%) 70.00 65.00 60.00

*The above residuals are for guidelines only and are subject to approval.