What is a novated lease and you might want it to be explained in simple terms. A novated lease is a finance lease that is established between the employee and the finance company. The employer on their part agree to take the rights and responsibilities for the novated lease during the tenure or as long as the person is employed with them.
The good thing about the novated lease is that you will be able to save a lot of money as the employer will go on to pay for the vehicle lease using your salary which will in turn fetch you a whole lot of savings on the amount that you will end up paying for the insurance, fuel, maintenance, tyres charges and so forth. If you were to calculate the monetary benefits that you can gain out of novated lease, it will certainly be phenomenal. This will greatly reduce the taxable income that you will have to pay.
The novated lease agreement can be worked out for any kind of car that the individual wants. This will give them autonomy and not force them into going in for a make of a car that they are not happy with. There are several flexible payment options that can run from 12 to 60 months depending on what the person is comfortable with. In fact the money saved with the help of novated lease will allow you to feel as though you have had money put back in your pocket.