Novated Car Lease Calculator

Calculator
Quotation
Car Type
Purchase Price
$
Annual Km
Term
Months
Monthly Cost
$
Savings
$

This quotation is calculated based on standard Novated Lease. Calculation can change based on vehicle selection, Annual Kilometres, Term, state cost method for personal contribution and other individual circumstances.

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Finance

Novated lease quote includes all finance costs for the purchase and lease of your new vehicle, including any fees and associated charges. It also considers any GST credits you may be entitled to.

Maintenance

Novated lease quote includes an estimate for all your probable maintenance, service and repair costs based on the term and nominated kilometres you have entered.

Tyres

An allowance for tyres has been made in the Novated lease quote calculation, roughly 1 set of tyres per 35,000 kilometres travelled over the lease period.

Insurance

Novated lease quote does includes estimated cost of comprehensive insurance. You can bring in comprihansive insurance of your choice or Myfleet can help you insuracing your vehcile.

Registration

New cars typically come with first year registration included in the purchase price, so your Myfleet Novated lease quote makes an allowance for annual renewals for the duration of the lease period.

Roadside

Whilst some new vehicles come delivered with a short term roadside assistance program Myfleet have included an overriding program of roadside assistance which will cover all vehicles 24/7 nationwide. Comprehensive insurance is not considered in this lease cost. We can include a fleet based comprehensive policy, or you can add your existing personal insurance policy to the scheme and have it paid for by Myfleet.

Fuel

Novated lease quote does includes estimated budgeted cost of fuel for your vehicle, fuel is based on the category of car chosen and the kilometres expected to be travelled for the duration of the Novated lease period.

1. What is a Novated Lease?

A Myfleet Novated Lease is a three-way agreement between an employee, employer, and a finance company. It allows employees to lease a vehicle using pre-tax income, offering significant tax advantages and flexibility. The employer makes the lease payments on behalf of the employee, and the employee enjoys full use of the vehicle.

Because of this, you can save thousands of dollars in income tax and GST each year, simply by novating your car.

The car is fully maintained by Myfleet for maintenance, tyres, registration, Fuel, roadside assistance and Myfleet comprehensive insurance.

A single fixed monthly payment will cover all of these components for the duration of the lease period.

  • Service, maintenance and tyres
  • Registration and CTP insurance
  • Comprehensive insurance and accident management
  • Fuel budget
  • Roadside Assist

Under this arrangement, the employee pays the monthly lease cost and budgeted opearting cost from his/her salary.

2. Who does Novated Lease suit?

  • Full-time employees with stable income.
  • People who want a new or near-new car regularly wihtout upfront payment.
  • Employees who wants to save tax without any hessle.
  • Novated leasing can reduce your taxable income, making it especially beneficial for those who pay more tax and want to maximize take-home pay.

Features and Benefits of a Novated Lease

Myfleet provides all the tax and administrative benefits of the Novated Lease (see Novated lease product description ) Plus,

  • Myfleet Novated Lease reduces your tax bill by paying for the cost of the vehicle and its running costs using your pre-tax income.
  • Saving on GST for all of the vehicle’s running costs, including fuel, servicing, tyres, registration and insurance.
  • Cars are fully maintained by Myfleet so there is no in-house expertise required.
  • Vehicle records, history and payments are all managed by Myfleet so product is very administratively friendly.
  • Static monthly payments means no unexpected expenses which makes budgeting predictable.

Myfleet Lease is a wholly owned division of The Lease Company Pty Ltd

Our company is a full-service vehicle lease provider and we have been successfully providing Fully Maintained Company Car Leases and Short Term Rentals to our customers for over 15 years with a managed fleet exceeding 1000 companies.

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Contact Us (Head Office)

Level 1, 646 Whitehorse Road
Mitcham, Vic-3132 Australia
PO Box 2221 Rangeview, Vic-3132
ABN: 48 087 669 618
Phone: 03 8813 8989
Email: info@myfleet.lease

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