What is a Novated Lease?
A Novated Lease offers a simple and convenient way of including a vehicle in your salary package.
A Novated Lease through ORIX is a three-way agreement between ORIX, your employer and you. Simply choose a vehicle; ORIX will then use its purchasing power to get you a great price. All vehicle finance and running costs including, insurance, registration and servicing are bundled into one simple payment collected from your salary, saving you money.
Watch this video to help you understand how it works.
Why choose Novated Leasing?
Maximises income
Increased purchasing power and tax advantages enable employees to make the most of their salary and potentially take home more pay.
Easy to manage
Simple repayments straight from salary cover the finance and running costs, to create easy budgeting. Just set and forget.
Discounts at every step
Unlike personal finance, discounts can be achieved on the purchase price, fuel, running costs and maintenance..
Download our Novated Leasing guide
Buying a new car is exciting, but it’s an expensive purchase you want to get right. Before you start visiting car yards and negotiating prices, have a read through our guide to understand the process from quotation to vehicle delivery.
Book an appointment today with a Novated Education Manager to discuss your options or call 1300 363 993.
Make a move to electric now
The Government has passed the Treasury Laws Amendment (Electric Car Discount) Bill 20221 to exempt (non-luxury) electric cars (including battery electric cars, hydrogen fuel cell electric cars and plug-in hybrid electric cars) from Fringe Benefits Tax.
Read our guide to the Fringe Benefits Tax (FBT) Exemption for Electric Vehicles (EVs) in Australia and learn how you can buy an eligible electric vehicle with a ORIX Novated Lease and save on costs.
Book an appointment today with a Novated Education Manager to discuss your options or call 1300 363 993.
Calculate your savings
Just choose your vehicle type; input your estimated vehicle cost, annual kilometres, salary and lease term, and see how little it will cost to drive a new car with an ORIX Novated Lease!
- Small
- Mid-sized
- Large
- SUV
- Luxury
You can save
per year on your car's finance and running costs with an ORIX Novated Lease
Weekly salary impact
Check out our vehicle offers
Select from a wide range of vehicles for your Novated Lease.
*Offers available through an ORIX Novated lease on Tesla Model Y and Mitsubishi Outlander ordered between 01/02/24 – 29/02/24. The vehicles are subject to availability, state fees and manufacturer price changes. Standard delivery times apply. Actual vehicle may vary from the pictured model. Weekly salary impact may vary based on additional options selected with the vehicle. Weekly salary impact is based on a four-year lease term with 15,000kms travelled annually for delivery in New South Wales. Weekly salary impact is the effect on take-home pay (GST not applicable) with an annual gross salary of $120,000.
Have you got an existing Novated Lease?
Your novated lease finance contract can be transferred to ORIX. ORIX will work with you to determine whether it is beneficial to refinance or potentially changeover to a new vehicle. Refinancing may benefit lease holders that have less than 20% of their lease period remaining. Any existing lease budget credit or debit will need to be reconciled with your existing novated lease provider. ORIX can set up a brand-new lease which will include updated lease budgets for the new lease term.
Book an appointment today with a Novated Education Manager to discuss your options or call 1300 363 993.
Buyer Connect
In-conjunction to ORIX’s Novated Lease offering, ORIX can offer you access to ORIX Buyer Connect.
This service allows you to simply take advantage of ORIX’s combined buying power to purchase a new or used vehicle at a discount averaging 10% off RRP.
With Buyer Connect you get a great deal, and a car delivered to your door, without ever having to set foot in a dealership.
Already switched to an ORIX Novated Lease?
Stay in control of your lease with our Novated Companion App.
Available on Android and IOS
Download now
Find out how we can help
Talk to an ORIX Novated Specialist to learn how you can buy an eligible electric vehicle with a novated lease and save on costs.
By submitting my details, I acknowledge that I have read the ORIX privacy policy, and understand that ORIX will use my personal information to contact me in relation to my enquiry, and for other general marketing purposes.
FAQs
You can choose from a wide range of makes and models–new, used or a luxury vehicle. ORIX can even purchase your current vehicle and lease it back to you. Although most vehicles are eligible for an ORIX Novated Lease, some vehicles may be ineligible (for example, vehicles older than ten years or greater than 200,000 km by lease end). Please get in touch with an ORIX Novated Leasing Specialist for more information.
Yes. A Novated Lease on an EV offers you a simple and convenient way of including an EV in your salary package. Finance and running costs are GST-free and bundled into one simple payment collected from your salary (in part or in full), reducing taxable income and potentially optimising take-home pay.
The exemption applies to battery electric vehicles, hydrogen-fuel-cell electric vehicles and plug-in hybrid electric vehicles that are below the luxury car tax threshold, which is 89,332 in 2023-24 for fuel-efficient vehicles.
Plug-in hybrids will now be phased out as of 01/04/2025 but any contracts/commitments made before 01/04/2025 would be honoured.
The FBT exemption will run for a minimum of 5 years, from 1 July 2022 to mid – 20274 and will be reviewed at that time. The application of the law will be retrospective to eligible vehicles registered after 1 July 2022. Any novated lease entered before 30 June 2025 will be eligible for this exemption through to lease expiration.
A second-hand electric vehicle may qualify for the exemption, provided that the vehicle was first purchased new on or after 1 July 2022 and will not have greater than 200,000 km by lease end. Please get in touch with an ORIX Novated Leasing Specialist for more information.
Approximately three months before the end of your lease, ORIX will send you a reminder. We will work with you to choose what to do next. You can extend the term of your lease, offer to purchase the vehicle from ORIX, or finance a new vehicle. If you have a finance lease, there will be a residual amount that you will need to pay to ORIX. If you have an operating lease, there is no balloon amount or similar to pay.
