Myth Busting

Clear Lease Talking the Truth about Novation

There is a lot to understand when it comes to Novated Leasing, but once you get it, you get it, and you’ll never go back to the way things were. We break down the truth about Novated Leasing and some misconceptions about how it works.

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Myth 1: "The car must be used for business purposes."

BUSTED! Your car can be 100% for personal use and still reap the tax benefits.

Ready to get started? Our experienced team is here to guide you through the application process, answer your questions, and provide a no-obligation quote. Novated leasing with Clear Lease opens up a world of possibilities!

Myth 2: "I don't drive enough kilometers to benefit." ​

TRUTH: That’s false! Even if you don’t drive a lot, you can still benefit from a novated lease. Take Susan, for instance. She drives just 15,000 km annually, but with a novated lease, she saves around $115 per fortnight or up to $14,970 over the lease term*. Imagine what you could do with that extra cash!

Myth 3: "My Vehicle must be new to lease it."

TRUTH: Nope, you can enjoy the tax savings and convenience with a used or existing car. You can choose from a range of second-hand models, subject to your employer’s policy, and even consider selling your current car to one of our financiers and then leasing it back to free up equity.

Myth 4: "Novated lease cars belong to the company."

TRUTH: Not true! You can take your car with you if you change employers. You’ll remain responsible for payments, and if your new employer doesn’t offer novated leasing, you can continue using the vehicle with post-tax repayments. 

Link to end of lease FAQ 

Myth 5: "I can only benefit with a high salary."

TRUTH: That’s not true! You don’t need a high salary or a management position to enjoy novated leasing perks. Anyone who pays tax can potentially benefit. Steve, for example, earns $50,000 annually and saves up to $13,630 over five years with a novated lease*.

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