---
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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### [Novated Lease](https://2946009.hs-sites.com/novated-lease/?hsLang=en)

# Novated Leasing

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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