Novated Lease Calculator
Novated Lease Calculator
See what you could save with our novated lease calculator
Thousands in potential savings await you every year, and we can't wait to deliver the good news!
Our novated lease calculator gives you a clear, realistic picture of what salary packaging a car actually looks like for your situation. Plug in your salary, your car and how far you drive and see your potential tax savings and weekly cost in seconds.
Please remember this calculator is indicative only. For a personalised quote with exact numbers, get in touch with our team.
All of your car's running costs are included
Customer Service
We make your life easy with super short wait times for customer support and a dedicated relationship manager for the life of of your lease.
Rego & Insurance
No need to worry about bill shock. Your rego and insurance payments are all rolled into your lease costs. Maximum tax benefits, minimum stress.
Tyres & Alignment
Changing tyres is a royal pain in the you-know-where. But with tyre replacement included in your lease plan, at least it's a tax benefit now.
Servicing & Maintenance
Servicing can be a big cost, but it should also lead to big savings. Including it in your lease payments means it reduces your tax bill. Win!
Fuel or Electricity
Sick of watching fuel prices skyrocket? Us too. The silver lining is that the more they go up, the more your tax bill goes down.
Lease Payments
Normally your car payments are all "them, them, them". But now it can be "you, you, you"! Save thousands each year by driving your dream car.
What will our novated lease calculator show you?
Leaselab is all about driving your dollar further. The results from our novated lease calculator can help Australians see just how much money they can save each week. With our easy-to-use calculator, you can quickly estimate:
- Your weekly net cost of the lease
- Your estimated tax saving over the full lease term and your annual savings
- How running costs (fuel or charging, servicing, registration, tyres and insurance) change the price
- The impact of the FBT exemption if you're considering an electric vehicle
The car you choose has a big impact on what you save. A higher-value car means more tax savings, and an eligible EV means zero FBT on top.
Go on, give our cars a scroll. Browse our current novated lease deals and see what works for your budget.
How a novated lease is calculated
The calculator combines five inputs to build your estimate.
Bring them all together, and it creates an accurate picture of what your take-home pay looks like with a novated lease.
1. The car you choose
The value of the vehicle is one of the biggest drivers of cost. A higher-priced car means higher repayments. Electric vehicles are the exception; currently, eligible EVs attract $0 FBT, making them dramatically cheaper than petrol or diesel cars in the same price range.
2. How many kilometres you drive
Your estimated driving distance determines running costs such as servicing, tyres, registration, insurance and fuel or charging. Packaging these expenses through your novated lease can significantly reduce the tax you pay, especially if you’re on the road frequently.
3. Your pre-tax salary
Your salary affects how much tax you save. Higher marginal tax rates mean larger reductions in taxable income, but almost all Australian employees who pay tax can reduce their tax bill through salary packaging. The calculator shows exactly how much this could impact your take-home pay.
4. Your lease term (1–5 years)
Longer lease terms lower your weekly repayment by spreading costs over more time. Shorter leases usually cost more per week but build equity faster. You can adjust your term in the calculator to instantly see how it affects both cost and tax savings.
5. Your location in Australia
Where you live affects registration fees, stamp duty and delivery costs. Some states offer additional discounts or incentives for electric vehicles. This ensures your calculation reflects local pricing, helping you estimate your costs more accurately.
Is the balloon payment shown in the calculator?
No. The balloon payment, also called the residual value, is the amount owing at the end of your lease term before you own the car outright.
It's set by the ATO as a percentage of the vehicle's purchase price and depends on your lease term. These are the current guidelines for residual payment for 2026:
Source: ATO
You can choose to pay it out, trade in, sell or refinance at lease end. Whatever you decide, you’ll have options.
Novated lease or loan? Breaking it down
To illustrate how much more cost-effective a novated lease is compared to a car loan or purchasing the car outright, let’s put them side by side and see what it looks like:
Tesla Model 3 RWD
*Calculation is based on a driver in Victoria with an annual gross salary of $140,000 driving 15,000km per year. Running costs include: electricity, comprehensive insurance, registration and CPT, servicing and tyres.
Pricing is accurate as of December 2025. For this example, the car loan interest rate is assumed to be 7.99% p.a. with no loan fees. This is an example for illustrative purposes only based on the assumptions described. Your cost and savings may be different depending on your situation.
The best part? You’re not alone! Our team is here to guide you and crunch the numbers between a novated lease, buying outright or a loan.
We’re here to help you feel confident as you take the wheel of your next car.
Our Happy Customers
Frequently Asked Questions
You've got questions and we've got the answers! Let's answer all of those pressing novated leasing questions you've got burining.
What can’t this novated lease calculator account for?
Your location plays a key role in shaping your novated lease estimate. It influences vehicle delivery fees, stamp duty, and registration costs – all essential components of the calculation.
Additionally, where you live may determine your eligibility for specific EV incentives or rebates, adding further savings if you opt for an electric vehicle.
How does a novated lease help me reduce tax?
A portion of your lease repayments and running costs are deducted from your salary before tax is calculated. That reduces your taxable income, which means less tax paid every year.
It’s a no-brainer to really think about when weighing novated leases against other ways to get your next car.
What vehicles are eligible for novated leasing?
New cars, used cars and even currently owned vehicles are eligible as novated lease vehicles. There are some minor rules from the ATO to be aware of:
- The car can’t be designed principally to carry a large number of passengers (i.e. it can’t be a minibus). Anything with a carrying capacity of less than eight seats is fine.
- Generally, financiers don’t like to finance cars that are older than 12 years at the end of the lease (so for a 3-year lease, the car can be a maximum of nine years old). There are exceptions for classic cars.
Can I get a novated lease for a used car?
You most certainly can! If you want to lease a used car, the process is the same as a new car – we just skip needing to order your car, because you’ve already found an existing car you want. There are some restrictions on the car you can buy, so it’s good to be aware of them before you go ahead.
What happens if I want to terminate my novated lease early?
You can cancel your novated lease at any time. You just have to pay the remaining lease payments and the residual value. If your lease has been running for a while, chances are that the value of your car will be higher than the amount owing, so you will be able to sell the car and pay off the lease.
Can I include running costs in the calculator?
Yes, and we'd actually recommend trying it both ways. Run it once with just the vehicle, then again with fuel or charging, servicing, registration, tyres and insurance bundled in.
The jump in tax savings when you include running costs is one of those moments where novated leasing really starts to click.
