Saving calculator

Instantly find out how much you can save on your next novated car lease.

Saving comparison

To help put you in the driver’s seat for savings, consider two scenarios when it comes to purchasing your new car: one that uses a Car Leasing Options novated car lease, and one that sees you pay all vehicle costs in after tax income.

Let us make the following assumptions about your current situation:

  • Your annual salary is $65,000 with no other salary packaging items
  • You travel 20,000 kms each year in your car
  • Your vehicle costs $36,700 (inclusive of gst)
  • The term of the lease is 4 years

Vehicle cost (all rates inclusive of GST)

Finance $7,939 / year
Insurance $1,320 / year
Registration $800 / year
Fuel $3,432 / year
Car averages 12L / 100km at an average cost of $1.30 / L
Maintenance $1,100 / year
Total cost $14,591 / year

With these parameters in place, consider your two scenarios:

  • Without Car Leasing Options Novated car leasing
  • With Car Leasing Options Novated car leasing
  Without a
Novated Lease
With a
Novated Lease
Gross salary $65,000 $65,000
Novated Lease Payment Pre Tax - $7,580
Tax payable $14,404 $11,908
Net pay $50,596 $45,511
Novated Lease Payment Post Tax - $7,011
Household Income $50,596 $45,511
Motor Vehicle Costs $14,591 -
Household Income $36,004 $38,500
After Tax Savings - $2,496

Using this scenario, you should save up to $2,496 per year or $9,984 over the life of the lease. Whether saved, invested or paying for the family’s annual holiday, let Car Leasing Options help you get ahead!

Additional assumptions:

  • Based on the gross taxable wage excluding:
    • Employee pre-tax superannuation contributions
    • Other salary packaging benefits provided by the employer
    • HELP (HECS) liability of the employee
    • Employee is not paying Medicare levy surcharge

  • Cost of motor vehicle demonstrated is based on:
    • $36,700 capital value (includes stamp duty, GST & on-road costs)
    • The exclusive GST price would be $33,363 (GST saving of $3,336) by employee
    • This benefit is only available if employee enters into a Novated lease with their employer

  • Maintenance and running costs:
    • Based on the car selection of family size vehicle
    • Averaged costs include fuel, tyre replacements, registration and insurance renewals and service costs.

  • The term of the lease:
    • Will determine the finance payment and residual (balloon figure). The four year term has been selected in this calculation with a residual value of 37.5%

  • Comparison results of present and future savings:
    • With a Novated lease in place, savings of $2,496 per year or $9,984 over the life of the lease plus
    • A GST saving of $3,336 on the original purchase price of the vehicle
    • A total of $13,320 in savings over the life of the lease