A novated lease is one of the most tax-effective and convenient ways to get into a new car — and it’s not just for company executives. Whether you’re driving a hatchback for your daily commute or a 4WD for weekend adventures, a novated lease can help you save on tax and running costs while keeping your repayments predictable.
At Crestwood Wheels Finance, we make salary packaging simple. We’ll walk you through what a novated lease is, how it works, and why it might be the smartest way to get behind the wheel.
A novated lease is an arrangement between you, your employer, and a finance company. Your employer makes the lease repayments from your pre-tax salary, which can reduce your taxable income. This means you could pay less income tax while enjoying the benefits of a new car.
The lease also bundles in running costs like fuel, insurance, servicing and registration — so everything is covered in one easy payment. You can choose the car you want (new or used, dealer or private sale) and drive it for both personal and work purposes.
Novated leasing is ideal for:
If you change jobs during the lease, you can transfer the arrangement to your new employer or pay out the balance and keep the car.
Let’s say Sarah earns $90,000 a year and drives 20,000 km annually. With a novated lease, her lease payments come out of her pre-tax salary, reducing her taxable income and potentially saving thousands in tax over the life of the lease. Plus, because servicing, fuel and insurance are bundled in, she never has to budget for big, unexpected car bills.
A typical novated lease covers:
By packaging these costs, you smooth out your car expenses over the year — no nasty surprises.
You’re not locked into a certain make or model. You can pick a car that suits your lifestyle — from a fuel-efficient hatchback to a family SUV, a hybrid, or even a ute. We can also help you compare the numbers to make sure the car fits within your budget and salary packaging arrangement.
We take care of the details, explain everything in plain English, and liaise with your employer so the process is smooth from start to finish. We’ll also work to secure competitive rates and ensure your package makes financial sense for your situation.
With a novated lease from Crestwood Wheels Finance, you can enjoy a newer car, predictable costs, and potential tax savings — all without dipping into your savings.
Before we get started, let us know how you’re looking to borrow. This helps us tailor your loan options and ensure the right documents and details are collected for your situation.
For business owners or sole traders purchasing a vehicle primarily for business use.
A salary-packaged vehicle lease arranged through your employer.
car loan for individuals who are self-employed or using the vehicle mainly for business purposes
A standard personal car loan for everyday, non-business use.
No problem — select this if you’re unsure. We’ll help guide you to the right option.
