Got Questions?

What are the main benefits of leasing with Maxxia vs other options?

There are several important advantages of leasing with Maxxia. Here are 8 key reasons why over 37,000 Australians like you confidently choose to lease with us.

• You could pay less tax on your car’s running expenses (i.e. your registration, roadside assist, insurance, servicing, fuel, car washing, and new tyres) — potentially saving you money
• You could save on the price of the car — through leveraging Maxxia’s large dealer network
• You could save on the GST you would pay if you bought the same car outright
• Our expert servicing and maintenance team helps keep your car well maintained and reviews all your quotes to ensure you are not overcharged. In the last year, we saved our customers over $333,900* in servicing and maintenance costs by negotiating reduced maintenance bills
• You could lower your overall taxable income, potentially saving you money
• We help arrange your insurance, prepare the paperwork, and plan a budget for you — saving you time and effort to spend on the things you enjoy doing most
• Your automatic, regular payment covers all your regular car expenses — which means you can simply set and forget and not worry about paying for petrol, or finding money to pay for your registration or insurance
• You’re part of a 37,000 strong community of Australians who have chosen to be looked after by Australia’s oldest and largest novated leasing providers — meaning you can be confident you’re in safe hands with our experts.

*Combined total from September 2020 to September 2021.

What are the potential benefits of extending my current lease with Maxxia?

There are several important advantages of extending your lease with Maxxia. Here are 10 key reasons why over 37,900 Australians like you confidently choose to lease with us.

• You’ll keep the car you love and,
• Your deductions will be lower than what you pay now, which means you’ll see more money deposited into your bank account each pay cycle
• You could continue to pay less tax on your car’s running expenses (i.e. your registration, roadside assist, insurance, servicing, fuel, car washing, and new tyres) — potentially saving you money
• Our expert servicing and maintenance team helps keep your car well maintained and reviews all your quotes to ensure you are not overcharged. In the last year, we saved our customers over $333,900* in servicing and maintenance costs by negotiating reduced maintenance bills
• You could lower your overall taxable income, potentially saving you money
• We help arrange your insurance, prepare the paperwork, and plan a budget for you — saving you time and effort to spend on the things you enjoy doing most
• Your automatic, regular payment covers all your regular car expenses — which means you can simply set and forget and not worry about paying for petrol, or finding money to pay for your registration or insurance
• You’ll also have a lower residual at the end of your extension, which means you still have the option to own your car outright, and you’ll less for it than you would now, and
• At the end of your extension, we can help you trade in your car — and whatever profit you make you keep tax free and
• You’re part of a 37,300 strong community of Australians who have chosen to be looked after by Australia’s oldest and largest novated leasing providers — meaning you can be confident you’re in safe hands with our experts

*Combined total from September 2020 to September 2021.

I’m thinking about extending my lease with Maxxia — what do I do next?

At Maxxia, we’re committed to making your lease extension as quick and easy for you as possible. There are two simple steps to help make this happen —

1. Speak with your dedicated senior leasing specialist  – they’ll provide you with the information you need, and step you through the process

2. Submit your online application  – for most people, this doesn't take more than 10 minutes
   Once approved –

   • you could receive further tax savings — on top of everything you’ve already saved through your novated lease
   • you’ll continue enjoying the convenience benefits such as automatic budgeting — therefore saving you time and effort
   • your regular car repayments will be lower than what you currently pay, meaning more money will be deposited in your bank account each pay cycle; and
   • you’ll also have a lower residual at the end of the term

I'm thinking about getting a new novated lease with Maxxia – what do I do next?

At Maxxia, we’re dedicated to making the re-leasing process as quick and easy for you as possible.

There are 3 simple steps –

1. Speak with your dedicated senior leasing specialist  — they’ll provide you with all the information you need, and step you through the process;

2. Choose the car you want – or let us know what you’re looking for, and we’ll tap into our large dealer network to try and find it;

3. Submit your online application  — for most people, this doesn’t take more than 10 minutes.
   Once approved –

   • our dedicated leasing specialist will help you find the right car and the right insurance — and we’ll take care of the paperwork for you!
   • you could receive further tax savings — on top of everything you’ve already saved through your novated lease
   • you’ll continue enjoying the convenience benefits such as automatic budgeting — therefore saving you time and effort
   • you could immediately save on the GST you would have paid if you bought the car outright, and
   • you could save on the price of a car through our superior buying power — our experts will negotiate a great price for you!

Can I take out a novated lease on an electric vehicle (EV)?

Yes, you can – in fact there’s never been a better time to get into an EV, and there’s never been a better way than through a novated lease. That’s because of the Federal Government’s Electric Car (EV) Discount, which exempts you from paying Fringe Benefits Tax (FBT) on eligible EVs that fall below the luxury car tax threshold of $91,378 for low-emission vehicles.

This means that a novated lease is the only finance option that allows you to fully pay with pre-tax dollars – which could save you thousands.

What do I need to do?

1. Speak with your dedicated senior leasing specialist  — they’ll provide you with all the information you need, and step you through the process; Fill in the ‘Request a callback’ form at the bottom of this page to have a specialist consultant call you back, or call 1300 123 123

2. Choose the car you want – or let us know what you’re looking for, and we’ll tap into our large dealer network to try and find it;

3. Submit your online application
   Once approved –

   • our dedicated leasing specialist will help you find the right car and the right insurance — and we’ll take care of the paperwork for you!
   • you could save on the price of a car through our superior buying power — our experts will negotiate a great price for you!
   • you could receive further tax savings
   • you’ll continue enjoying the convenient benefits such as on road costs combined in one weekly payment - saving you time and effort
   • you could immediately save on the GST you would have paid if you bought the car outright, and
   • you could save on the price of a car through our superior buying power — our experts will negotiate a great price for you!

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.

What does the Federal Government’s Electric Car Discount policy mean for an EV on a novated lease?

The Federal Government’s Electric Car (EV) Discount policy is aimed at driving a further uptake of EVs, as well as encouraging car manufacturers to import and supply more affordable electric models in Australia.

The policy provides FBT exemption on some electric vehicles that fall below the luxury car tax threshold for low-emission vehicles ($91,387), as well as an import tariff exemption that removes a 5% tax on many imported EVs – making EVs a potentially more attractive option on a novated lease.

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.

How does the discount for eligible EVs compare to taking out a standard novated lease for savings?

The difference in savings between an EV novated lease and a standard novated lease could be significant – potentially making eligible EVs more affordable to own and operate and bringing them closer in price parity to equivalent petrol vehicles!

Taking out a novated lease on an eligible electric vehicle differs from a fuel-powered vehicle because there is no post-tax component to deductions.

What are the benefits of taking out a novated lease on an EV?

Taking out a novated lease on an EV could deliver a range of benefits, including:

• Potential tax savings
  A novated lease on an EV is FBT exempt – if its retail price is below the Luxury Car Tax threshold of $91,387 – meaning all your payments are made from your pre-tax salary. This could reduce your taxable income, resulting in you potentially paying less tax than you would have otherwise.
• Potential Running Cost Savings
  EVs typically cost on average 70% less per kilometre than a petrol-powered car, while servicing costs are less because they have fewer moving parts. The Electric Vehicle Council+ estimates that a city-based driver of a typical SUV, driving 15,000 kilometres per year, could save more than $135 per month on running costs. With newer models able to potentially put electricity back into a household or grid, you could save on your energy bills, too.
• Budget Convenience
  Enjoy the budget convenience of having the car's finance repayments and running costs – including electricity, registration, insurance and servicing – bundled into one regular pre-tax payment across the course of the year.
• Improved Comfort
  Electric motors are noiseless, making for a quieter and smoother drive.
• Environmentally Friendly
  By burning zero – or less – fuel, EVs also emit fewer or no emissions.

⁺Electric Vehicle Council of Australia, Are electric vehicles cheaper to maintain than combustion engines, February 2024.

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.

How does the residual payment work?

With any novated lease there will always be a residual, and this amount is set by the ATO.

Unlike if you were to get a car through a dealership where you might pay a large deposit upfront — with a novated lease, there’s no upfront deposit payment.

This may benefit you in several ways. By having more money in your back pocket immediately, you can save your money and put it into the bank to pay that residual later on if you choose to purchase the car at the end of the lease.

Can I have more than one novated lease with Maxxia?

Yes — many customers choose to take out multiple leases to try and maximise their financial benefit. For example, many people we help choose to give a car to another family member – like a P-plater – or partner to drive.

To take out another novated lease with Maxxia, there are three simple steps –

1. Speak with your dedicated senior leasing specialist  — they’ll provide you with all the information you need, and step you through the process;

2. Choose the car you want – or let us know what you’re looking for, and we’ll tap into our large dealer network to try and find it;

3. Submit your online application  — for most people, this doesn’t take more than 10 minutes.
   Once approved –

   • our dedicated leasing specialist to help you find the right car and the right insurance — and we’ll take care of the paperwork for you!
   • you could receive further tax savings — on top of everything you’ve already saved through your novated lease
   • you’ll continue enjoying the convenience benefits such as automatic budgeting — therefore saving you time and effort
   • you could immediately save on the GST you would have paid if you bought the car outright, and
   • you could save on the price of a car through our superior buying power — our experts will negotiate a great price for you!

How does Maxxia’s interest rate compare to other options?

When it comes to car finance — or any finance, for that matter — there’s naturally a common curiosity as to the interest rate.

When it comes to novated leasing, there are so many factors to consider besides saving a percentage point or two.

So when you pit novated leasing against other options such as a bank loan — it’s important to consider the option that could give you greatest overall financial savings, once everything has been factored in.

Examining the interest rate alone does not take into account the tax savings you may get from your novated lease — therefore it will not tell you which option could give you greatest overall financial savings.

Which means that, while interest rates for your novated lease may be equivalent or higher than other options, it’s important to note that a novated lease may end up saving you more money in the long run because the tax savings may outweigh any difference in interest rate.

To demonstrate exactly how much money you could potentially save by choosing a novated lease versus alternative leasing or purchasing options — contact your dedicated senior leasing specialist to receive your free estimate.

Can I terminate my lease early?

We understand many customers are seeking flexibility in their lease. With Maxxia, there are several options available to you, should you need to terminate your lease early:

You can:

1. Acquire our lease protection insurance before you enter your lease — which covers any outstanding lease repayments should your circumstances change (e.g., loss of employment)
2. Transfer the lease to your new employer (subject to approval)
3. Pay the amount owing and the residual, and buy the vehicle outright
4. Continue paying the lease and running costs yourself (with post-tax dollars)