Already financing your car?
Use our calculator to compare your current car loan and vehicle running costs with a novated lease.
By entering a few details about your current vehicle and finance arrangement, you’ll receive an estimate of how a novated lease could compare and where it may deliver a more favourable outcome.
See whether a novated lease could put you in a better position in just a few minutes.
Results are estimates only and will vary depending on your individual circumstances.
Estimate How Much Better Off You Could Be
Enter your details below to compare your current car loan and vehicle expenses with a Novated Lease and estimate the potential benefit based on your circumstances.
Important Information
The calculator provides indicative estimates only and is intended for general informational purposes.
Results are based on the information you enter and a range of assumptions. They are not a quote, approval, offer, financial product recommendation, taxation advice, credit advice or a guarantee of savings.
Actual outcomes may vary based on factors including your income, tax position, employment arrangements, vehicle choice, finance terms, running costs and applicable legislation.
Why Compare a Car Loan with a Novated Lease?
Many Australians pay for their vehicle using a traditional car loan and cover expenses such as fuel, servicing, registration and insurance from their after-tax income.
A novated lease combines vehicle finance and eligible running costs into a salary packaging arrangement through your employer.
Depending on your circumstances, this may reduce the after-tax cost of financing and operating your vehicle.
For many eligible car owners, comparing both options can highlight a potential financial advantage and help you decide whether a novated lease is worth exploring further.
What Happens Next?
Like What You See?
If the calculator indicates a novated lease may offer a more favourable outcome, our team can provide a personalised assessment based on your circumstances. We’ll review:
Your current vehicle
Existing finance arrangements
Employment situation
Estimated annual kilometres
Vehicle running costs
Salary packaging eligibility
A personalised quote will provide a more accurate comparison than the calculator and clearly outline any assumptions used.
Request a Personalised Comparison
Find out whether a novated lease could be a better alternative to your current vehicle finance arrangement.
4 hour response time!Frequently Asked Questions
How does the calculator work?
The calculator compares information you provide about your current vehicle finance and running costs with an indicative novated lease scenario. The results are estimates only and should not be relied upon as financial, taxation or credit advice.
Can I switch from a car loan to a novated lease?
In many cases, yes. Subject to eligibility requirements and finance approval, it may be possible to refinance a vehicle currently funded by a car loan into a novated lease and improve your overall vehicle finance position.
Are the savings guaranteed?
No. The calculator provides indicative estimates only. Actual savings, costs or benefits will depend on your individual circumstances, including income, taxation position, vehicle choice, finance arrangements and running costs.
Do I need my employer to participate?
Yes. Novated leasing is a form of salary packaging and requires your employer to participate in the arrangement.
If you’re unsure whether novated leasing is available through your workplace, speak with your payroll, HR team or contact Fleet Network.
What vehicle costs can be included in a novated lease?
Depending on the arrangement, a novated lease may cover:
- Finance repayments
- Registration
- Comprehensive insurance
- Servicing and maintenance
- Tyres
- Fuel
- EV charging costs
Specific inclusions will be detailed in your personalised quote.
Can I get a Novated Lease on a used vehicle?
In many cases, yes.
Used vehicles may be eligible for novated leasing, subject to vehicle age, condition, lender requirements and approval criteria.
What if I still owe money on my current car loan?
A novated lease specialist can assess your existing finance arrangements and explain what options may be available.
The best approach will depend on factors including your outstanding loan balance, vehicle value and employment circumstances.
Is a novated lease right for everyone?
Not necessarily.
For many eligible employees, a novated lease can be a cost-effective way to finance and run a vehicle. Whether it is suitable for you depends on your personal circumstances, employment arrangements, vehicle usage and financial objectives. You should consider seeking professional financial or taxation advice before making a decision.
See Why Thousands of Australians Choose Fleet Network
From first-time novated lease customers to experienced salary packaging users, Australians across the country trust Fleet Network to help simplify vehicle ownership.