Novated Lease

With a car loan, you own the car from day one, whereas with leasing, you don’t own the car and are paying to use it for a fixed period of time.

Yes, you can consider a sale and leaseback on a vehicle that you currently own. The financier can buy your car from you at current market value and lease it back to you with all the benefits of a novated lease.

A novated lease lets you take advantage of a range of tax benefits including:

• GST credits (input tax credit), on the initial vehicle purchase (capped in accordance with the Luxury Car Limit)
• GST credits on vehicle running costs including maintenance, tyres and fuel
• Fringe Benefits Tax (FBT), which can lower your tax liability when you package all or a significant amount of the vehicle lease and running costs through your pre-tax (gross) salary

The application process with Toyota Fleet Management is simple and from start to finish takes around five working days.

1. Contact us for an exact quote.

2. Review your employer's car policy before choosing your car, if your employer doesn't have an agreement with us, no problem. We can guide you on how to get one put in place.

3. Toyota Fleet Management presents your employee with a Toyota Finance quote and salary analysis, including the finance application, which can be emailed to them directly.

4. You accept the quote and submit your finance application.

5. Subject to credit approval your finance is approved and the lease documentation is prepared.

6. You and your employer sign the lease documents.

7. The car is delivered to you.

8. Your employer is sent a notification to commence salary deductions.

At the end of your lease there are three options available to you:

• Extend your contract
• Purchase your car for the final residual payment
• Upgrade to a new car.

You will be contacted before your lease finishes to discuss these options. It is straightforward to get a new car on another lease and our dedicated team of specialists are here to help you every step of the way

Toyota Fleet Management is a division of Toyota Finance, so trust is embedded in our DNA. We believe strongly in being open and honest with our customers and making sure they get the best deal on their novated lease.