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What is a Novated Lease?

A Novated Lease is an employee benefit that makes it more cost-effective* to drive the car you love.

A Novated Lease bundles all your car payments and running costs into one simple payment – part of which can be taken from your pre-tax salary. It’s a three way agreement between you, your employer and us. We buy the car, your employer deducts the lease payments from your salary, and you drive away in a new car.

*Tax savings are subject to individual tax bracket and the selected vehicle.

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Benefits of a Novated Lease

A novated Lease with Custom Fleet can potentially save you thousands by bundling all your car payments and running costs into one simple payment, taken from a combination of your pre-tax and post-tax salary.

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With a Novated Lease from Custom Fleet you could:

Save money

You can potentially save thousands of dollars with a Novated Lease from Custom Fleet. Everything is included, and you don’t need a deposit.

  • No GST on the purchase price of your car and its running costs

  • Reduce your taxable income to pay less PAYG tax

  • Save on service, maintenance and fuel

Save time and stress

We’ll help with the dealer negotiations, number-crunching and paperwork to help you get the best deal.

  • Best drive-away dealer discount

  • All running costs budgeted into one easy lease payment

  • Insurance, maintenance and repairs with reputable providers

  • 24/7 breakdown assistance and claims management included

Stay in control

With payments automatically deducted from your salary, you can set and forget – but you’ll always have access to the information you need.

  • Intuitive online reporting helps with expenses and budget management

  • No need to juggle extra bill payments or worry about unexpected maintenance costs

  • Depending on the terms of your lease, just hand the car back at the end, trade it in, sell it or keep it.

How it works

You don’t need to earn a high income or drive a lot of kilometres to maximise your savings with a Novated Lease. Our experts will help you choose the right package to suit your needs, and work out the right combination of pre-tax-and post-tax salary deductions for your lease payments.


Choose your car

Find the make or model you want - as long as it complies with your employer’s vehicle policy, Custom Fleet can arrange for a Novated Lease. Check out our exclusive offers on popular offers or just let us know what you’re looking for.


Get a quote

Once you’ve chosen your car, we’ll help you work out the best lease package that suits your need. Call us on 1800 811 922 or send an enquiry.


Enjoy your car, while we take care of the rest

Once approved, we’ll buy the car and you can choose to have it delivered to your door. Your employer will make a deduction from your pre-tax salary to cover the rental payments and costs of running your car.


Check any details you need online

Our intuitive online reporting makes it easy to stay on top of your lease. For example, you can track all your expenses including your actual spend vs your budgeted amount.


Ready for a new car? We’ll take care of that too

Depending on the terms of your lease, you can simply hand the car back at the end of the lease period in a good condition, trade it in for a new car, or we can help you sell it directly.

Choose your package

Every driver is different. That’s why we offer flexible Novated Lease options to choose a Novated Lease that suits your needs.

We can also customise the amounts deducted from your pre-tax and post-tax salary to minimise FBT (Fringe Benefits Tax) payments and maximise income tax savings.

Whether you’d prefer to stay in complete control with all costs covered, or you keep your monthly cost to a minimum, we have a package for you:

Fully Maintained Operating Lease

Everything included, no surprises

  • No residual payment

  • Easy to budget with one monthly cost

  • No risk of unexpected maintenance costs

  • No more to pay at the end of the lease as long as the car is in good condition*

Budgeted Finance Lease

Keep it simple

  • Fixed budget amount for running costs

  • Choose the running costs you need

  • Agreed residual value at the end of the lease

Which lease is right for you? Compare

Our Novated Lease experts can help you maximise your savings.

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Fully Maintained Operating Lease

Budgeted Finance Lease

Residual Value Obligation

With Custom Fleet

With You 1

Vehicle Financing Costs

Vehicle Delivery Costs

Service and Maintenance Costs

Fully Covered


Replacement Tyres



Breakdown Assistance

Registration and Renewal 3

Accident Management

Peace of Mind 4

Online Reporting

Fuel Card (Fleet Card)

Comprehensive Insurance 5


1 You agree upfront with Custom Fleet to guarantee the Residual Value of the vehicle. At the end of the lease term, if the GST exclusive sale price or valuation (less costs) is less than the agreed Residual Value, then you pay the shortfall to Custom Fleet.

2 A nominated number of replacement tyres may be included, depending on the lease kilometre limit.

3 Custom Fleet will administer the registration renewal. You are responsible for satisfying any conditions such as sending us the registration papers, or having the vehicle inspected in States or Territories that require a road safety certificate.

4 Inclusion of Peace of Mind is dependent on your employer’s Novated Policy.

5 Custom Fleet is not an insurer. We can arrange comprehensive motor insurance on your behalf or you can choose to source your own.

* The car needs to be in good condition (as outlined in the our Fair Wear & Tear Guide). Excess kilometere charges may apply if the driver exceeds the maximum number of kilometres allowed in their lease.

Calculate your savings



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Monthly cost
Fortnightly cost

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Estimated annual savings

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Estimated annual savings

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Estimated life of lease savings

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Estimated life of lease savings

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Car Type


Cost of car

Cost of car



Annual salary


(1-5 years)

Term (1-5 years)

Kilometres per year

KMs per year


Happy? Request a quote

A Custom Fleet Novated Leasing specialist will call you within 24 hours to discuss your quote.

Compare Loan Types

Please use calculator first to see how much could you save.

How much could you save with a Novated Lease?
You could save per year with a Custom Fleet Novated Lease. See how a Novated Loan stacks up with a Personal Loan.

Novated Lease


Personal Loan


Take Home Pay

Annual disposable income after tax



Take Home Pay

Annual disposable income after tax


Lease Costs          
Loan Repayments + Running Costs (excl. GST) $0     $0  
Pre Tax Payment $0     $0  
Post Tax Payment $0     $0  
Salary Impact          
Gross Salary (before tax) $0     $0  
Less Pre Tax Deduction $0     $0  
New Gross Salary (before tax) $0     $0  
Less Income Tax $0     $0  
Less Post Tax Payment $0     $0  
Take Home Annual Salary $0     $0  
$0,000 a year more in your pocket.


The following provides a comparison between a Novated Lease and a Personal Loan with an APR of 11% paying down over a similar term to the same residual value.  Gross salary excludes superannuation or any other salary packaging deductions, Medicare levy or HECS liability. The Statutory Rate of 20% used for FBT calculations. Employee contribution is assumed to be 100%.


To enter into a Novated Lease with Custom Fleet, your employer will need to have a business relationship with Custom Fleet.

The Novated Lease Calculator is indicative only, designed to provide a reasonable estimate of the rental costs and savings associated with leasing a vehicle.

The rental figures and projected savings are indicative only and do not constitute a quote or offer of finance.


Annual Kilometres
Vehicle chosen treated as 100% personal use.
Gross Annual Income excludes superannuation, Medicare Levy, HECS/HELP liability or any other salary packaging deductions

Term of Finance

Is defined by the number of years nominated. At the end of the nominated lease term there is a Residual Value payable. This value is based on the minimum allowed value as set by the ATO and is a percentage of the amount financed.
1 Year term - 65.63%
2 Year term - 56.25%
3 Year term - 46.88%
4 Year term - 37.50%
5 Year term - 28.13%

The Residual Value

Is your novated lease payout figure at the end of your lease agreement and is inclusive of GST.

Cost of Car

This is a GST inclusive value

FBT Liability

The Statutory Rate used in all calculations is 20%, regardless of distance nominated.


Tax rates for the 2016-17 year are used.


The maintenance estimate is generated on the category of the nominated vehicle. A dollar figure is calculated per kilometre nominated.


Comprehensive Insurance is factored into the monthly rental and the driver has a full no claim bonus and is rating 1.


The cost of fuel per litre is a speculated average over the term of the lease, and considers the following factors:
  • 1. Fuel economy
  • 2. Term/Kilometres nominated/li>
  • 3. Fuel type

What’s Included?

A Novated Lease bundles all your car payments and running costs into one simple payment – part of which can be taken from your pre-tax salary. It’s a three way agreement between you, your employer and us. We buy the car, your employer deducts the lease payments from your salary, and you drive away in a new car.

Lease payments

No more worries about missing or making a payment, as your employer will deduct your car payments and running costs into one simple payment – part of which will be taken from your pre-tax salary.

Maintenance & tyres*

We budget for scheduled servicing and replacement tyres based on the estimated kilometres travelled each year.


We’ll make sure you're covered with our comprehensive car insurance – or you can choose to source your own.


Registration is also included in your lease payment, yet another large bill you won’t have to pay separately every year.


You can fill up with Fleet Card at over 6,000 fuel providers across Australia.

Other running costs

You’ll also have peace of mind knowing that we can budget for all your running costs, including roadside assistance and accident management.

*This only applies for a Custom Fleet Budgeted Finance Lease where all components are reconciled at lease end. If a fully maintained lease is chosen all routine maintenance costs are guaranteed by Custom Fleet for the nominated lease kms

Our customers typically save between $2,000 to as much as $10,000 per year on their income tax by salary sacrificing their car payments.

Get in touch with us

Take the first step towards owning your dream car. Complete the fields below and one of our Novated Leasing consultants will call you back.

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