Novated Lease.
Drive the Hyundai of your dreams while making potential tax savings along the way.
Join 350,000 Australians
with a novated lease.
with a novated lease.
A novated lease isn’t just for big corporates — more and more people are
discovering the potential benefits of a novated lease. Especially when it comes
to getting into our most popular EVs.
How does it work?
A novated lease is more than just a way to finance your next car. It allows almost any employee with a salary to unlock potential tax benefits. Ordinarily, tax is taken out of your salary before you get paid — but through a novated lease, you can pay for your car and other related expenses before you pay tax. And by doing that, you could end up paying less income tax.
Potential other benefits include:
— No upfront GST is payable on the cost of your new car
— No upfront deposit required
— Choose a lease term from 1-5 years
— Bundle your car payments and running costs into one
— Potential to reduce your taxable income and save on income tax
— You could save thousands in tax with the Federal Government Electric Car (EV) Discount
— A straight-forward process through our novated leasing partner Oly
Comparison table.
Let’s crunch the numbers. The table below compares the differences between a traditional car loan
and a novated lease for a person on a $90,000 salary, travelling 15,000 kilometres annually across a five-year term.
| Car Loan1 | Novated Lease2 | |
|---|---|---|
| Vehicle driveaway price3 | $59,076 | $59,076 |
| Upfront GST payable on vehicle price | $0 | $5,127 |
| Weekly finance repayment (car loan) or lease payment (novated leasing) including interest4 and fees5 | $391 | $369 |
| Weekly tax & GST payable on running costs | $0 | $136 |
| Net cost per week6 | $391 | $229 |
| Estimate of total difference over 5 years7 | $101,670 | $76,353 |