Novated Lease Calculator. Estimate the Finance Repayment.
Estimate the finance part of a novated lease. A full quote from your lease provider adds running costs, fringe benefits tax and the residual.
Australian Credit Licence 509582. Lender fees may apply. Lender criteria apply.
The rate in the box is an example input. This figure is an illustration only, chosen to show how the calculation works. It is not a rate offered or available to you. Your rate depends on the lender, the vehicle, the loan amount and term, and the lender's assessment of your circumstances. Repayments shown here leave out fees.
Save these numbers and we'll come back with a real rate from our 50+ lender panel. Starting your enquiry uses a soft credit check only. A hard enquiry usually occurs if you proceed with a formal application to a lender, and that can affect your credit score.
How a novated lease works
A novated lease is a three way agreement between you, your employer and a financier. Your employer takes on the lease payments while you work there and deducts them from your pay, partly before tax and partly after tax to reduce fringe benefits tax. Running costs can be bundled in, and a residual value is due at the end of the lease. The tax rules are federal, so they are the same in Queensland and every other state and territory.
Read the full step by step guide on how a novated lease works.
Frequently asked questions
Does this include FBT and running costs?
No. This calculator shows the finance repayment only. A full novated lease quote also bundles fuel, servicing, tyres, insurance and fringe benefits tax, so ask your lease provider for one.
What is a residual?
The residual is the amount owed when the lease ends. The ATO publishes minimum residual values for car leases, and for a car leased over five years the minimum is 28.13% of its cost. Common options are to pay it out, refinance it or sell the car.
Are EVs treated differently under a novated lease?
Eligible battery electric and hydrogen fuel cell cars can be exempt from FBT, including under salary packaging, if they were first held and used on or after 1 July 2022 and are valued below the luxury car tax threshold for fuel efficient vehicles. Plug in hybrids generally stopped qualifying from 1 April 2025. The exempt benefit still counts toward your reportable fringe benefits amount.
Is there a different novated lease calculator for QLD?
No. Novated leasing works the same way in Queensland as in the rest of Australia, because the tax rules are federal. State costs such as registration and stamp duty differ, so they show up in your provider's full quote.
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