Contact details
P: (07) 4951 1722
F: (07) 4951 4969
E: mail@alliedleasing.com.au
PO Box 2059, MACKAY Q 4740

Novated lease

A novated lease is a three way agreement between the employer, employee and the lender.

The employer, employee and financier sign a novation agreement whereby the employer agrees to take on the employee's obligations under the lease. Under this arrangement, the employer makes the monthly lease payments on behalf of the employee. Should the employee leave his or her employment for any reason, the novation agreement ceases and the obligations assumed by the employer revert to the employee as the registration is in the employee's name.