The HOW
If you’re on the look out for new wheels and ways to save, a novated lease could be perfect. There’s a boot load of potential benefits including the chance to save on tax, getting access to our huge dealer network plus our ongoing, no-question-is-too-hard support.
How does novated leasing work? Novated leasing is when some of your car payments can be paid with before tax money. This should leave you with more after tax income. Plus you could have a new ride.
The WOW
Want to see how much you could save? You could be in for a big surprise.
The frequently asked whys and hows
Do I drive enough to benefit from a novated lease?
Whether you drive fewer than 10,000 or more than 50,000 kilometres a year, a novated lease can be a great way to finance a car. And you could save on tax.
What is included in the novated lease repayments?
A novated lease bundles all of your car repayments and budgeted running costs into one regular payment directly from your pay. You can use a mixture of post- and pre-tax funds to help pay for your fuel, tyres, insurance, registration, maintenance and even car detailing. By packaging these expenses under a novated lease, you could save on tax.
Can I start a novated lease at any time?
Yes, you can start a novated lease at any time of the year! Some people wrongly believe that you have to wait until the beginning of the Fringe Benefits Tax (FBT) year in April to start a lease.
Can I just salary package my car's running costs?
No, you cannot only package your running costs through a novated lease arrangement; finance repayments must be included.
What types of insurance are available for my car and novated lease, and what do they cover?
Comprehensive Insurance
Comprehensive cover against loss or damage to your vehicle or someone else’s caused by accident, theft, malicious damage or fire.
Lease Protection Insurance
Cover for your lease payments and the running costs associated with paying out your lease, in the event you are made involuntarily redundant. You also have the option of handing the vehicle back and the policy will pay any gap between the payout under your finance contract and the sale price of the vehicle.
Total Loss Assist
In the event that your vehicle is declared a total loss by your comprehensive insurer, Total Loss Assist covers the difference between your comprehensive insurance payout and either the amount you originally paid for the vehicle or the amount needed to settled your finance contract – whatever is the greater.
Guaranteed Buy Back Insurance
Guaranteed Buy Back Insurance (GBB) is designed to provide protection if your lease goes full term (and you’ve travelled under 30,000kms per year), offering cover for the difference between the market value of your car and your end-of-lease residual payment. For more detail on the insurance products available, refer to our Product Disclosure Statements (PDSs) and Financial Services Guides (FSGs) listed near the foot of the dedicated Insurance page on our website.
Check out our latest deals
Could a new car with novated leasing save you thousands in tax?
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*All eligible vehicles must be ordered before 30/06/2025 (unless extended), or while stocks last. Displayed price is only available through a novated lease administered by Maxxia. Weekly costs have been determined based on the following assumptions: 1) The lease is a Maxxia fully maintained lease, 2) a 5 year term, 3) a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Inclusion of finance and budgeted costs for: fuel or electricity, 8 replacement tyres, maintenance, roadside assistance, registration, CTP and comprehensive insurance, 5) Gross annual salary is $90,000 6) Vehicle purchased in NSW, 7) 15,000km per annum, 8) Salary Sacrifice using Employee Contribution Method (ECM) or Fringe Benefits Tax Exempt Method. The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,387. The indicative price quoted for the novated lease is based on vehicle quotations Maxxia has received within the last 45 days and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above, and is an indicative cost approximation of the selected vehicle and model shown and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. These specials cannot be used in conjunction with any other offer. From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, you can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue providing private use of the vehicle on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding.
^Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances.
#Please note that stock levels vary from time-to-time and so certain vehicles may not be available at the time of enquiry.
From 1 April 2025, a plug-in hybrid electric vehicle is no longer considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding. To qualify for the EV discount, plug-in hybrid electric vehicles must have been delivered by midnight on 31 March 2025.
Things you need to know: This general information doesn't take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Conditions and fees apply, and you should consider if they are acceptable before you accept any arrangements with Maxxia, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. Maxxia may pay and/or receive commissions in connection with its services.
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