Paywise offers a cost-effective and convenient way to pay for the purchase and running costs of car. We negotiate competitive pricing PLUS you’ll save on the GST on the purchase price (not to mention on fuel, servicing, and tyres too!). With our affordable novated leasing options for eligible employees across Australia, you’ll be driving away in new car and saving sooner than you think!
A novated lease arrangement is where your employer makes payments from your pre-tax salary to cover the running costs and finance for your vehicle.
By taking out a novated lease with Paywise, you’ll receive significant tax benefits by reducing your taxable income and enjoy a reduced purchase price on your new car at the same time.
Our fully inclusive novated lease package includes fuel, servicing, registration, fully comprehensive insurance, tyres, any other car expenses, PLUS the finance repayments on your new car! Our team takes care of the entire process for you.
We make life easier with the Paywise Fuel Card to purchase fuel, tyres, servicing and other upfront costs with your pre-tax salary. Or if you choose to pay out of your own pocket, a reimbursement claim is easy with our mobile app!
A novated lease is a three-way lease agreement between an employee, employer, and a novated lease provider such as Paywise. This agreement allows most private and government employees to finance a car of their choice and all the running costs that come with it, using their pre-tax income. This reduces your taxable income, leaving more money in your pocket!
A novated car lease term from Paywise can be anywhere between 1 and 5 years. Each monthly payment made goes towards reducing the balance of your lease. Because each payment is automatically deducted using pre-tax dollars, you won’t need to worry about remembering to make payments each month. It’s that easy!
Step 1: Select your make and model.
We’ll help you find your dream new or used car.
Step 2: Submit an enquiry.
Get in touch with our expert team to discuss your current employment situation and finance needs.
Step 3: Receive your quote
We’ll come back to you with a personalised quote on your chosen car, monthly lease payments, and expected annual savings.
People often ask how a novated lease compares with a standalone car loan. We’ve done some sums below that demonstrate the impact of novated leasing vs regular car finance can have on your financial situation. Remember! A novated lease also includes all your other running costs – not just the finance. On the left, you can see the difference in savings when you choose an electric vehicle as your preferred car in your novated lease package, compared to financing an EV. On the right, you can see the savings when you choose a petrol vehicle as your preferred car in your novated lease, when compared to financing a petrol car.
Our fully inclusive novated lease package includes your car’s running costs such as fuel, servicing, and registration. For a better idea of how much a novated lease costs, see examples of popular cars and how much they’ll cost you below, or use our novated lease calculator to calculate the savings on your next car and to see how much you can save with a novated lease from Paywise.
The benefits of a novated car lease for employees in Australia are almost endless. Not only do you save GST on the purchase price and running costs, but you can pay for some or all of your vehicle finance and running costs with your pre-tax salary, meaning you’ll pay less tax!* As well as saving money, with a novated lease from Paywise, you’ll also benefit from:
• Getting the best deal on your new or used car.
With help from our team and with access to our nationwide preferred dealer network and fleet discounts, we’ll help you find the best deal on your new car.
• Having all your running costs covered.
From fuel, to servicing, to insurance, even tyres, and registration, they’re all budgeted for and included in your lease payments.
• GST savings!
By salary packaging with Paywise, you won’t need to pay GST on your car’s purchase price or running costs.
• Enjoy more flexibility.
Paywise can provide you with different options throughout your novated lease term. Whether you want to purchase, sell, or refinance at the end of the lease, the choice is yours!
There’s never been a better time to save with a novated lease from Paywise. From popular car brands such as Tesla to BYD, Volvo and Kia, if you’ve been thinking about switching to an EV, take advantage of our incredible novated lease specials today and save on your next vehicle.
Myth busting facts about novated leases!
1. There is no minimum amount of kilometres you need to drive to benefit from a novated lease.
2. The car can be for personal use – it doesn’t matter if you don’t need the car for work.
3. You don’t need to be on a big salary – if you pay tax, there are savings to be made!
4. The car is registered in your name. Just like if you took out a standalone car loan, the car is yours.
5. You get to keep the car at the end of the lease period – if you want to that is. (See below)
At the end of your novated lease, the choice is yours – upgrade, refinance or pay out the remaining balance of your lease to own the car outright. Not sure which option to take? Paywise will be with you every step of the way ensuring you take the best option for you.
Using trade/sale proceeds to payout the residual balance.
Continue leasing the car for another term.
Pay the balance to the finance provider and own car outright.
To find out about how we can help with your next car or to get a quote, call 1300 132 532 or Contact us online.
“Recently went through Paywise for a new salary packaged car and had an amazing experience. They were quick with their responses and answered all of my questions. Compared to another salary packaging company I have used before they were much more responsive and helpful. I would definitely recommend them to others.”
Feedback from an employee from Department of Communities, WA
“Tania has arranged a car for me to salary package and I just wanted to let you know what an excellent service she has provided. Throughout the process, she was very efficient and responded to any enquiries I had immediately. She was also very helpful in negotiating the delivery of my new car today to ensure that I did not need to go and collect it.”
Feedback from employee working for Department of Child Protection and Family Support
“Completely new to leasing everything was thoroughly explained to me and the lease management done promptly. Communication is still 10/10!”
Feedback from an employee from Public Transport Authority, WA
No, you don’t. A Paywise Novated Lease will benefit most employees across a range of incomes. Paywise will tailor your novated lease based on your salary, km’s driven, lease term and the car you would like to package.
No, you do not need to use the vehicle for business related travel with a Paywise novated lease. A novated lease with Paywise allows you to use your car for work and everyday use.
At the end of your novated lease, Paywise gives you four simple choices:
Towards the end of your lease, Paywise will contact you and will work closely with you to ensure you make the best decision.
Most novated leases can be transferred to a new employer and packaging provider, as most larger employers offer salary packaging. We recommend if you do start interviewing for another job, it’s worth checking that any potential employer offers novated leasing as a staff benefit. Paywise can assist in providing all the relevant information necessary to help in the move, should this happen during the lease. If the new employer does not offer packaging for novated leases, or you decide not to work for a few months, then you could take over the monthly lease payment to the financier from your own bank account via direct debit and pay for all the running costs form your own post-tax income.
If you are changing employers, whether you are moving to an employer that Paywise provides salary packaging services for, or you’re currently with Paywise and need to switch to your new employer’s provider, we can assist you with the transition process. To start the process, visit our changing employer page.
Yes, you can. Part of the service we offer at Paywise is selling your current vehicle for you. With our nationwide preferred dealer network, we can take away the hassle in securing the best trade-in price available for your current vehicle. Note that under ATO rules, the sale price cannot be deducted from the cost of the new novated lease, but rather it will be distributed back to you.
Your salary deductions do not commence immediately upon settlement of your lease. Therefore, to avoid any Fringe Benefits Tax (FBT) liability and to ensure required funds are collected to cover all obligations of the lease, adjustments may be made to your salary deductions within the first FBT Year (1 April – 31 March) of your lease. The amount of these adjustments (or ‘catch up payments’) will vary depending on the time lag between settlement and your first salary deduction, the number of pay periods remaining in the current FBT Year and the amount of each lease payment. Speak to your leasing consultant for more information.
Your fuel costs will be higher than budgeted if you are already travelling more than initially predicted. Travelling more can also increase your servicing and tyres costs. In order to allow for additional expenditure, a budget adjustment will need to be made by increasing the deductions that are made from your salary. If you are travelling more and need to request an adjustment to your budget, please complete this form.
After all costs have been incurred, any excess funds in your account can be transferred to another eligible salary packaging benefit or can be returned to you via your employer’s payroll service and will be subject to income tax.
When you’re on a novated lease with Paywise, two options exist for these payments:
Servicing and tyres can be paid for and claimed as above. Alternatively, at selected providers you may also be able to pay for such costs using your Paywise Fuel Card, however, please note the default transaction limit of $800 that applies to Paywise Fuel cards. To increase your limit please contact us.
All payments are dependent on sufficient funds being available in your novated lease account and it is highly recommended that you check your balance at the time of submitting your payment request. If insufficient funds are available, this may delay your payment being processed.
If you are covered under the Paywise comprehensive motor vehicle insurance policy, please click here for important information including how to make a claim.
Available to approved applicants employed by eligible employers only. This material is general information only and does not consider your objectives, financial situation or needs.
Before making a decision you should consult your independent legal, taxation and financial advisor for advice relating to your personal circumstances. Conditions, fees and charges may apply.
Novated Lease payments on vehicles not eligible for Fringe Benefits Tax exemption are split between pre-tax and post-tax income.