Key Takeaways
- Comprehensive Coverage: A fully-maintained novated lease package bundles all vehicle-related expenses into one pre-tax payment.
- Included Costs: Unless you specify otherwise, the package typically covers car lease repayments, fuel or charging costs, servicing, maintenance and repairs, registration, insurance, and tyres.
- Tax Benefits: By consolidating these expenses into a pre-tax package, employees can reduce their taxable income, leading to potential tax savings.
- More Simple Budgeting: With all vehicle costs bundled into a single payment, budgeting becomes more straightforward, eliminating large lump-sum expenses.
- What to Watch For: Ensure your provider is being realistic and transparent with their budget, some will underquote things like maintenance or insurance to look better initially. Clear Lease offers real, transparent pricing with no hidden fees.
A novated lease is more than a car loan. It’s a full-service vehicle package that bundles your lease repayments with everyday running costs, and deducts it all from your salary before tax.
Here’s what we include as standard in our fully-maintained novated leasing packages:
Lease Repayments
The base cost of your vehicle, paid at a set interval over the term of your lease. This covers the depreciation and financing of your car, with a residual (balloon) value at the end.
Registration & Comprehensive Insurance
Each year, your rego renewal is covered by the lease. No more surprise VicRoads notices. Full comprehensive car insurance is built into your package. This includes annual premiums and optional extras like roadside assistance.
Fuel & Charging
Fuel is estimated upfront and included in your regular payments. We'll give you a fuel card you can use at major petrol stations, and instructions for claiming methods for EV charging.
Tyres
Tyres wear out, your lease knows that. New tyres (and wheel alignment if needed) are budgeted for within your plan.
Servicing & Maintenance
Routine servicing, scheduled logbook maintenance and repairs are included. This helps you avoid surprise mechanic bills and make sure you get to maximise tax savings.
Extras (if you choose):
There are many extras you can claim as part of your lease funds, or add on to the car before the lease begins and package as part of the car finance, you can find the full list on our Claimable Expenses page.
How It’s Managed
All of these costs are estimated at the start and built into your regular salary deductions. You’re not pre-paying, Clear Lease forecasts what you’ll need over the life of the lease based on manufacturer guidelines & estimated kilometers driven, and smooths it out into one consistent payment.
If you over- or under-spend on running costs, your lease is reconciled at the end of each FBT year.
What’s Optional vs. Included
Some items are mandatory (like repayments, insurance, and rego), while others are optional add-ons depending on your preferences and employers policy.
Always check the breakdown of inclusions when signing your lease.
