Employee Information

What is a fully maintained novated lease?

A fully maintained novated lease is a highly tax effective form of vehicle financing. It involves a novation agreement between an employee (you), your employer and a financier. This agreement allows a substantial proportion of the vehicle finance and the costs associated with owning a vehicle to be deducted from your pre-tax income. As a direct result, you will gain substantial tax-benefits and achieve greater disposable income.

What vehicle running budgets are included?

• Car Finance
• Fuel
• Maintenance
• Tyres
• Comprehensive Insurance
• Vehicle Registration
• Compulsory Third Party (CTP) Insurance
• Australia-wide Road-side Assistance

Fully maintained novated lease benefits:

• Income Tax Savings - each pay period a substantial portion of the car expenses are taken from your pre-tax income, reducing your taxable income and the amount of income tax you need to pay.
• GST Savings - Your employer and the financier claims back significant portions of the GST on your behalf.
• Fixed Costs - The Fully Maintained Novated Lease lease payments are fixed for the duration of the lease and allow you to avoiding those nasty large annualised car costs. By fixing your car costs the Fully Maintained Novated Lease helps you budget your money.
• End of Lease Tax Free Profit - If, at the end of the lease you sell or trade in your vehicle for a profit, this profit is tax free. It is not subject to Capital Gains Tax (CGT).
• Convenience - The registration, CTP and Comprehensive Insurance is renewed for you automatically. Your Fuel card is accepted at every fuel outlet in Australia.

What do I do next?

1. If you haven't already spoken with Platinum Car Loans, freecall 1300 554 553 to speak with one of our highly trained novated lease consultants. They will discuss your situation in detail and structure a Fully Maintained Novated Lease estimate specific to your circumstances.
2. If your employer doesn't have an existing relationship with Platinum Car Loans you will need to approach the applicable person. With their permission a novated lease manager will liaise with them in order for you to access the Fully Maintained Novated Lease.
3. If you have decided on the new car, our Fleet Management Team will source the vehicle for you at the best price. Their bulk buying power access fleet discounts not available to the public, saving you time and money.
4. Once the vehicle has been sourced your novated lease consultant will liaise between you and the financier to arrange financial approval.
5. Platinum Car Loans arrange payment and delivery. You are now in your Fully Maintained Novated Lease car!

Which car financing product is right for you?

Deciding on the right car finance option for your situation can sometimes be confusing. commercial hire purchase, chattel mortgage, car lease? are just a few of the car financing options, Platinum Direct Finance can assist with your decision making and make the process simple and easy. Use our "Which car financing option is right for you?" today!

Why use Platinum Direct Finance?

The Platinum Direct Finance group of companies will finance over 800 million dollars worth of equipment and car finance this year! Due to this volume and buying power, we can give our clients access to the best boat finance rates and boat financing products across Australia.

Novated Lease Brochures

Need further information?

If you require further car finance or car leasing assistants, either complete our friendly enquiry form or call an experienced finance consultant on 1300 554 553 today.

Enquire Now Apply Now Instant Quote