Novated Lease
Car financing through salary packaging
At a glance
PACKAGE
Cost of vehicle, insurance and registration into one payment
1-5 Years
Fixed novated lease term
$ 20,000
Minimum loan amount
Why choose our Novated Leases?
A novated lease is a great way to finance new cars for employees through salary packaging. It offers benefits for both employees and employers and operates similar to a finance lease.
Features and Benefits
Under a novated lease, an agreement is made between BOQ, the employee and employer.
Upon completion of the novated lease period or on termination of the employee's employment, the employee will be responsible for the finance lease.
Benefits for employers
- Employee pays for their own vehicle
- Reduced vehicle maintenance and fleet management costs
- Provide a flexible employee benefit at little or no cost to your business
- Reduce payroll tax and Workcover premiums for employees
- Fringe benefits tax may apply*
Benefits for employees
- Choose your own motor vehicle from $20,000
- Make novated lease payments on your pre-tax income - a great way to save on tax*
- Flexible novated lease terms between 1 to 5 years
- Motor vehicle expenses including insurance, maintenance and registration may be packaged
- Vehicle may be purchased at the end of the term by paying an agreed amount
Important information
For important information on Equipment and Vehicle Financing, view our Terms and Conditions below.
Ready to apply?
Whether you’re ready to apply or you’d like to know more, one of our business specialists will be happy to help and provide more information.
Enquire now
- Enquire online now
- Call us on 1300 714 986
Visit a branch
We can also help with:
Acquire your business equipment over time
Commercial Hire Purchase
Obtain the business equipment and vehicles you need through a hire purchase loan, where you pay hire charges over a fixed period.
- 100% finance is available
- Hire purchase term of 1-5 years
- Own the asset after the loan has been paid off
An equipment finance option where you own the asset
Specific Security Agreement (Chattel Mortgage)
Own your own equipment upon purchase through repayments that are mortgaged to BOQ Equipment Finance Limited
- 100% asset financing available
- Own the asset instead of hiring, renting or leasing
- Minimum loan amount of $20,000 over 1-5 years
