Benefits for employees

Salary packaging

Lease payments can be made from pre-tax dollars, maximising the potential to increase effective salary.

Choose your vehicle

Complete control to choose the vehicle you want, at the dealer of your choice.


The vehicle is not bound to your employer – should you change jobs the vehicle stays with you.

Benefits for employers

Reduced risk

The responsibility of ongoing costs, plus refinancing, purchasing or selling of the vehicle rests with the driver.

Less administration cost

Save on the paperwork costs associated with buying, managing and disposing of company vehicles.

Become an 'employer of choice'

Attract staff with a tax effective, flexible and fully maintained vehicle lease option.

How a novated lease works

  1. The employee leases a car from us.
  2. The company and the employee sign novated lease documentation with us.
  3. The company makes all the lease repayments.
  4. The company gets the lease repayments back from the employee’s pre-tax salary.
  5. If the employee leaves the company the novated lease stops. The ex-employee takes the car with them and is responsible for the repayment of the lease.
  6. At the end of the lease the employee or ex-employee has these options:

- Return the vehicle to us for sale, where the driver is responsible for any shortfall between the residual value and sale price.

- Refinance or extend the lease.

- Make an offer to buy the car.

What you need to know

Loan term

  • Minimum one year.
  • Maximum five years.
  • Other terms can be considered on application.

Loan amount

  • Minimum loan amount is $10,000.
  • Maximum loan amount is unlimited.

Interest options

  • Fixed interest rate.

Interest type

  • Fixed interest.

Repayments options

  • Monthly.


  • We own the asset and lease it to you.

Security required

  • Generally, the security is the asset itself; though in certain circumstances additional security might be required – this will be assessed on application.

Important information

1Fee applies for standalone facilities and those drawn under a Master Asset Finance Agreement.

Terms and conditions

  • 100% finance is mandatory.
  • Proceeds of trade-ins and/or deposits must not be used as equity.
  • Your ownership of the goods at the expiry of the lease contract is not guaranteed. Other terms and conditions apply. Full details are available from NAB on request. Credit approval and asset eligibility criteria apply.

The tax comments provided in this document are of a general nature. NAB recommends that you seek independent tax advice in respect of the tax consequences arising from the use of any NAB equipment finance solution as they apply to your particular circumstances.

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