---
title: Novated Lease | FleetChoice
description: A Novated Lease is a three-way agreement between an employee, employer and the lease company. A fully maintained Novated Lease takes care of your vehicle finance & budgeted estimated running costs, such as fuel, maintenance, insurance, finance and more.
---

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### About Novated Leasing

# Novated Lease

A novated lease is a three-way agreement between an employee, employer and the lease company. It is sometimes referred to as salary packaging a vehicle.

There is a common misconception that the employee must be a high income earner and the vehicle should be new (or near-new) and of high value, travelling high annual km's. Many also wrongly believe that the vehicle must be used for work purposes. In fact, the employee can low or mid-income worker, using the vehicle for entirely personal use, travelling 10,000km per year - in most scenarios you can expect a substantial tax saving.

Lease terms from 1-5 years are available, and all running costs are included. Although the lease is for a fixed term, you can easily transfer your novated lease to a new employer during the term if required.

 

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Information was current at time of publishing and is subject to change. Testimonials are of individual experiences of customers of FleetChoice and are not necessarily representative of all those who will use our products and services. Information on this website is general in nature and does not constitute financial or tax advice and does not take into account specific financial circumstances, situations or needs. Independent financial and tax advice should be sought. All applications for credit are subject to credit approval criteria. Terms and conditions, fees and charges apply. Before making a decision in relation to comprehensive motor insurance please read the [Product Disclosure Statement](https://www.fleetchoice.com.au/insurance), [Financial Services Guide](https://www.fleetchoice.com.au/insurance) and [Target Market Determination](https://www.fleetchoice.com.au/insurance) and consider whether this insurance product is right for you . FleetChoice is an Authorised Representative (AR 378491) of the comprehensive motor vehicle issuer Allianz Australia Insurance Limited (ABN 15 000 122 850 AFSL 23408). FleetChoice may receive financial benefits in connection with its products and services. [2023.03]

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