Stop dreaming about a new car. Start saving on one
Bron Lewis here. Leaselab can save you thousands on the car you actually want, plus all of its running costs. It's called a novated lease. Novated? Labsolutely.
Tired of your car constantly shouting for your money?
Rego. Insurance. Servicing. Fuel. It’s a full-time job just keeping up with the costs. You work hard for your money; you shouldn't have to hand it all over to a machine that's meant to be working for you.
The Novated Lease, Simplified
A novated lease is a simple three-way agreement between you, your employer, and Leaselab. We bundle your finance and running costs into one deduction from your salary.
1
Choose Your Car
Pick any new or used car you like. We'll even help you source it and secure a great price.
2
Bundle Your Costs
We package your finance, insurance, servicing, and fuel into one fixed payment. No more surprise bills.
3
Pay & Save
Your payment is deducted from your salary using a combination of pre-tax and post-tax funds to maximise your savings.
All your running costs are included
Rego & Insurance
Tyres & Alignment
Servicing & Maintenance
Fuel or Electricity
Lease Payments
Here at Leaselab, EV doesn't stand for 'Expensive Vehicle'
An EV's price tag can feel like a punch in the wallet. But a novated lease makes them Labsolutely affordable. Here's how:
Massive Tax Break
You pay no Fringe Benefits Tax (FBT) on eligible EVs.
Unique to Novated
This is a huge advantage you can't get anywhere else.
Thousands More in Savings
It saves you a fortune on top of standard tax savings.
It's the single cheapest way to get into a brand new EV.
Don't just take my word for it
With thousands of happy customers, Leaselab is committed to making your novated lease simple, transparent, and hassle-free from start to finish.
Rated 5/5 based on 200+ Google reviews
- Christie
- Rocky
- Kevin
- Eldin
- Danelle
How we Labsolutely stack up against the competition
Let's be real: all novated lease providers promise big savings. But what about saving your time? And your sanity? We believe you've got much better things to do than listen to hold music for an hour. That's the Labsolutely simple difference.
(because transparency is non-negotiable)
(because we like making your life easier)
(because you deserve the best rates)
(because you've got better things to do)
(because it's your money)
(because we believe in the personal touch)
(because the benefits shouldn't stop with your lease)
About Leaselab
We work hard to make the complex world of novated leasing easy and accessible for everyone. This is part of our long-standing goal to reinvigorate the novated leasing industry with a focus on service and quality. We are here to do the right thing for our customers.
We live and breathe novated car leasing and are ready to provide you with personalised guidance so that you're informed every step of the way.
As we always say: It’s a new lease on novated leasing.
Customer satisfaction rating
years of combined experience in novated leasing
Frequently Asked Questions
If you’re looking for a new or used car and you’re a PAYG employee on a regular salary, then it’s definitely worth considering a novated lease. It provides a long list of benefits, including a reduction in your tax bill.
But don’t think you have to buy a new or used car to tap into the benefits of novated leasing!
If you’ve already got a car, you could still be eligible for a novated lease. As long as your car is either less than 12 years old at the end of the lease agreement or a classic car, you can get what’s called a ‘Sale and Leaseback’ novated lease, keep your own car and start reducing your tax bill immediately.
You most certainly can! If you want to lease a used car, the process is the same as a new car – we just skip needing to order your car, because you’ve already found an existing car you want.
There are some restrictions on the car you can buy, so we suggest reading our page about novating a used car for more information.
Yes, as long as your car is either less than 12 years old at the end of a lease agreement or is a classic car you can get what we call a ‘Sale and Leaseback’ novated lease, keep your own car and start reducing your tax bill immediately.
Don’t think you need to get a new car to experience the benefits of a novated lease!
New cars, used cars and even currently owned vehicles are eligible as novated lease vehicles. There are some minor rules from the ATO to be aware of:
The car can’t have a carrying capacity of more than one tonne (although this can be offset by accessories when it comes to vehicles like utes)
The car can’t be designed principally to carry a large number of passengers (i.e. it can’t be a minibus). Anything with a carrying capacity of less than eight seats is fine.
Generally, financiers don’t like to finance cars that are older than 12 years at the end of the lease (so for a 3-year lease, the car can be a maximum of nine years old). There are exceptions for classic cars.
Under a novated lease, the financier technically owns the car – you’ll be leasing it off them for the lease term.
However, it’s registered in your name and you can drive it like it’s your own. Plus, at the end of your lease, you can choose to pay off the remaining balance (called the ‘residual’) and own your car outright.
Logbooks are used for calculating the business use for a car – so if you don’t use your car for business, you don’t need to keep a logbook.
It’s ok to have a novated lease for personal use! So, the answer is no – you don’t need to keep a logbook if it’s not a business vehicle.
If you do use your car for business, you’ll only need a logbook if you choose the operating cost method to calculate your fringe benefits tax (FBT). Under this method, you’d need to keep a log book for 12 weeks during the lease term (so if you have a 5-year lease, that’s 12 weeks in 5 years).
Don’t worry: we’ll ask you a few questions to assess your situation and let you know which FBT calculation method is the best option for your unique situation.
The short answer is: no.
We’ll always need your employer’s approval to get you onto a novated lease – because your employer needs to make the payments on your behalf out of your pre-tax income.
By “employer”, we mean that you are a PAYG employee. So, if you are a small business owner, provided you pay yourself through PAYG and not director’s fees, you will still satisfy the “employer” requirement.
If you don’t have an employer, you might like to look at a chattel mortgage or a secured car loan to get into a new car, but it’s important to know that you won’t make any tax savings on these products.
That’s not a problem at all. We can quickly and easily transfer your existing lease over to your new employer. Just let us know and we’ll work with them directly to get it all sorted.
And if you leave your job without another job lined up, then you’ll need to keep making the regular payments yourself until you find a new role. You won’t make any tax savings for that period, but outside of that you can still operate the novated lease as per usual until you find your next job.
No, you don’t. Because everything is handled online or over the phone, you’re free to choose any novated lease provider in Australia. Novated leasing is specific to the Australian tax system and does not exist in many other parts of the world. So your novated lease provider should be Australian.
If you’re an employer and would like to have one of our novated leasing experts come to your offices and talk to your team about how it works, we’d love the opportunity to do so.
No, a novated lease doesn’t add tax complexity because your payments are handled by your employer. Come tax time, all you need to do is submit your tax return as you normally would.
Your vehicle expenses are included in your novated lease and are carried out for you by your employer in your payslips.
In addition, our service provides your complete novated lease statement which will help you to complete your tax return if you’d like to go a bit deeper.
Compare your savings
Use our calculator below to compare the cost of a novated lease with buying outright or a traditional loan, and see your savings.
