Are there different types of novated leases?
Before your novated lease starts
Yes, there are two types of novated leases: Fully-Maintained and Self-Managed.
Fully-Maintained Lease
Maxxia coordinates everything on your behalf – including sourcing your car and finance, arranging all the paperwork and fuel cards, and paying your bills. All your vehicle repayments and running costs are bundled into one regular payroll deduction.
Self-Managed Lease
You are responsible for sourcing the vehicle and pay any insurances upfront. You’re also responsible for all your own budgeting and bill payments (including servicing), which will then be reimbursed.
This table outlines the differences between the two: Comparison-Fully Maintained Novated Lease vs Self Managed Novated Lease.