Novated lease calculator
Enter the car, your salary and the term. See what a novated lease would take from your pay, with running costs and tax included, and the residual at the end.
How it’s worked out
- The lease payments and a running-cost budget for charging or fuel, tyres, rego, servicing and insurance, paid from your pay.
- How much is paid before tax, how much after, and the income tax you save.
- The GST credit on the car, up to the car limit.
- The residual at the end, set by ATO rules.
- Whether the FBT exemption for electric cars applies today.
Not sure which way to pay?
Tell Navo about your circumstances and what matters to you. We work out the numbers across a novated lease, a car loan and a business loan, and show you the way to pay that fits, and why.
Questions
How is a novated lease worked out?
Your employer pays the lease and the car’s running costs from your pay, partly before tax. The calculator works out how much your take-home pay drops each pay once tax is taken into account.
Are electric cars exempt from FBT on a novated lease?
Eligible electric cars under the luxury car tax threshold are exempt from FBT right now. The exemption is under review from 1 April 2027, and the rules change for new employers from 1 April 2029. The calculator checks the rules for today; the Navo Decision Engine checks them for the day your car is delivered.
What happens at the end of a novated lease?
You can pay the residual and keep the car, refinance the residual, or hand the car back and start a new lease.
What if my employer doesn’t offer novated leasing?
Any employer can offer a novated lease, and our partner millarX can set yours up.
Does a novated lease cost less than a car loan?
It depends on your circumstances: your salary, the car, and how long you plan to keep it. Tell the Navo Decision Engine what matters to you, and we work out which way to pay fits.