1300 361 360

What is a Novated Lease and how it can save you money.

A Novated Lease is a tax effective way of purchasing a vehicle, particularly if the vehicle is predominately for work purposes or if you receive a car allowance from your employer.

Finance only Novated Leases can be arranged through 360 Finance for individuals looking to purchase a vehicle.  This service can also be implemented into businesses as an ‘Employee Benefit’ or Program.

A Novated Lease is a tax effective way to own a car:

  • It is an Australian Tax Office approved method of reducing your tax.
  • The loan amount for your vehicle excludes the GST payable therefore lowering the loan amount and interest.
  • The GST payable on the vehicle is instead claimed back by the lender on your behalf.
  • Your loan repayments are made from your pre-tax salary, reducing your taxable income.

How a Novated Lease works:

  • A Novated Lease from 360 Finance is an agreement between you, your employer and the lender who finances your vehicle.
  • The car and the finance is arranged in your name as you would normally expect when purchasing a vehicle.
  • The Lease agreement enables your employer to make the loan repayments on your behalf – from your pre-tax salary.
  • If you leave your current employer, you retain the vehicle and take responsibility for repayment of the loan.
  • You can re-novate the lease with a new employer (if your new employer accepts Novated Lease arrangements).
  • Insurance and warranty products can be included into the loan and is an affordable way to be protected against the unexpected.
  • A low rate finance solution can be sourced from our panel of 20+ Australian bank and non-bank lenders.

Contact us on 1300 361 360 and ask to speak to our Commercial Finance Specialists about Novated Leasing.

Getting a Novated Lease with 360 Finance

1. Contact our Commercial Team
Our Commercial Finance specialists will explain how a finance only Novated Lease works through 360 Finance and how it could reduce your tax and save you money.
2. Let us know your requirements
Let us know the type of vehicle you want and your budget. Our Procurement Team and Finance Specialists will work together to find your vehicle and your best rate finance.
3. We arrange everything for you
Once finance is approved and you have found a vehicle, we work with your Employer and the Lender to set up the finance only Novated Lease on your behalf.
4. You drive away in your car
Once everything is arranged, you pick up your car and your employer starts making your finance repayments on your behalf from your pre-tax salary.
How our rates compare
We access some of the industry's lowest rates and will always get you your best rate finance.

How our rates compare

We will always get you the best rate
360 Finance
4.65%*
Westpac
8.68%*
St George
8.6%*
CBA
8.05%*
BOQ
8.19%*
Suncorp
6.09%*
RACQ
6.44%*
CUA
7.16%*
* The comparison rate helps you work out the total cost of a loan (including fees and charges) and to compare different loans. Data current as of 01/04/2021. Click to view data sources. Chart for illustrative purposes only. For further information on comparison rates, speak to one of our Finance Specialists.

Calculators

Calculators and rates

At today's lowest car finance rate of 3.45%
(Comparison rate 4.65%) you'll pay approximately...

$ per *

At today's lowest car finance rate of 3.45%
(Comparison rate 4.65%) you can borrow approximately...

$*

Our customers & people

Hello
"Excellent service. Ian from 360 Finance was great to deal with and we were kept in the loop at all times. No problem recommending 360 to anyone."
Gary M, Brogo, NSW
Hello
"One word - Excellence! Big thanks to Leanne for her outstanding effort in helping me get my new car. She went out of her way to answer all my silly questions in easy Laymens terms!"
Warren H, Queensland
Hello
"Living life upgraded. Second purchase with 360 Finance!"
Sue G, Queensland
Hello
"So in love with my new car thanks to John at 360 Finance. I'm so happy with my Honda Civic RS Turbo. 360 Finance were great and totally recommend them. So a big thank you again."
April G, Queensland
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"Thank you 360 Finance for all your help. Finance has allowed my family to buy a brand new family caravan to travel this amazing country. #lifeupgraded "
Craig P, Queensland
Hello
"Thank you 360 Finance for another successful purchase with low interest and fantastic service!!!!"
Michelle W, Queensland
Hello
"New Car! Toyota Prado. Life Upgraded!"
Emilie D., New South Wales
Hello
"Here’s a pic of my new ride all washed up - I had a blast on my new stead. Thanks Leanne and 360."
Nathan S, Victoria
Hello
"Thanks 360! I was blown away by the low rate finance and insurance I got compared to what I could find myself."
Karyn E, Northern Territory
Hello
"The kids are loving their new Taxi! Cheers Kyle and 360 Finance."
Lauren M, New South Wales
Hello
"We can’t wait for adventures in our new camper van, making memories with our two beautiful girls. Thanks 360!"
Skye C, South Australia
Hello
"Kim at 360 got me my Ute, Jetski and now a Mustang! She is a champ at her job and was very helpful. "
Chris R, Queensland
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"Thank you Kevin at 360 for assisting us with our new car finance. Fast and easily approved."
Rhea P, South Australia

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