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What is Novated Leasing?

A novated lease is a finance arrangement on the vehicle of your choice. Your employer pays for your vehicle lease and running costs out of your salary through a combination of pre- and post-tax salary deductions. This means you can choose a vehicle that suits your needs and lifestyle, with costs neatly consolidated into one salary deduction synced with your pay. 

Novated Lease step-by-step guide

Getting a novated lease is a simple process and we're here to help you every step of the way.

  1. Explore vehicle options

    You can choose any passenger vehicle make or model, including used and even your own vehicle* (just as long as it meets eligibility criteria). Try using our Novated Lease Calculator to get an estimate of your lease payments based on different vehicle types.

  2. Request a quote

    Contact our team to discuss your vehicle preferences and get a quote. You can either call us on 1300 888 872 or fill out an enquiry form.

  3. Review and accept your quote

    We present you with a detailed quote showing how your funds will be allocated along with a novated lease application. When you’re satisfied with the quote, simply approve it and return the completed finance application to us.

  4. Receive and sign your lease documentation

    We'll prepare the lease documents for you to review once our lending team approves your finance application. Both you and your employer will need to sign the documents to finalise the lease.

  5. Receive your vehicle and start salary deductions

    Organise your vehicle delivery or pickup with the Dealer or owner once it’s ready and start enjoying your novated lease! Your employer will then be sent a notification to begin salary deductions.

Things to consider

Before you start your application process, there are a few things to plan and explore.

Review your employer’s car policy
Check if your employer has an agreement with us. If not, we can guide you on how to get one in place.
Estimate your travel
Calculate your expected annual kilometres.
Decide on an appropriate lease term
Select a lease period that best aligns with your financial and lifestyle goals.
Seek financial advice
Consult with an independent financial and/or taxation adviser to understand how a novated lease fits into your overall financial plan.

TFM’s genuine care & expertise

We bring decades of finance knowledge and experience to novated leasing and genuinely care about our customers. This means you can enjoy quality customer service, competitive lease rates and lasting support throughout the life of your lease.

  1. Transparent rates

    Your interest rate is always clearly disclosed.

  2. Clear finance

    We show the full cost to simplify your budgeting.

  3. Direct lending

    We are the lender, backed by Toyota Finance Australia. No brokers, commissions or middlemen.

  4. Straightforward communication

    No tricks. No jargon. Just clear answers.

*Vehicles for a novated lease with TFM are subject to eligibility and lending criteria. Eligible vehicles must be passenger vehicles with fewer than 9 seats and must have a payload capacity below 1 tonne. Vehicles must also be less than 10 years old at the conclusion of the lease term. Please ensure compliance with these conditions to qualify for a novated leasing arrangement.

The information provided by Toyota Fleet Management (TFM), a division of Toyota Finance Australia Limited ABN 48 002 435 181, Australian Credit Licence No 392536, on this website is of a general nature and for your information only. Nothing on this TFM Website constitutes or should be considered to constitute legal, taxation or financial advice. Before making a decision about any product or service featured on this TFM Website, TFM recommends that you seek independent professional advice about that product or service, such as from your accountant, taxation or financial adviser or lawyer, who can advise you about your personal circumstances and what would be suitable for you.