See how much you can save through a novated lease
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Save on average $10,000 on an electric vehicle
A novated lease is the most cost-effective way to buy and run a car. Novated leasing means a three-way agreement between you, your employer, and a lender.
The car you want, now
No deposit is required for a novated lease with an electric vehicle (EV) or a plug-in hybrid electric vehicle (PHEV), just a refundable order fee.
Save on tax and car running costs
Enjoy significant tax savings and save GST on your car purchase, electricity mileage, servicing and maintenance.
Budget management
Bundle up your servicing, maintenance and rego costs into monthly payments to avoid hidden expenses.
Everything's included
Electricity mileage, service and maintenance, rego, CTP (NSW), and insurance are all included in your before-tax savings.
Are you ready to get started with your novated lease?
Explore our latest deals to find the perfect vehicle for you.
How to get a novated lease in 4 steps
Step 1
Get an obligation-free consultation so we can estimate an initial quote on the car you want. Our dedicated team can organise test drives for you too.
Step 2
If you are happy to proceed, we will get credit approved. We'll take you through the digital application process and check your finance serviceability.
Step 3
Through our exclusive partnership with BYD, we'll help you source your choice of BYD vehicle for you. We can negotiate drive-away price for you, and work with your employer to organise your lease deductions from your pay.
Step 4
Congratulations, you've got your new car and a Flare maintenance Card. For expenses where your Flare card can't be used, you can easily submit a claim for reimbursement via our driver portal.
Got questions?
We’ve got answers
What is a novated lease?
A novated lease is an arrangement between you, your employer and a financier for a period of time, between one to five years. You can still leave your employer during that time. If you do, you have the options to pay your car off, pay the financier directly or alternatively, you may be able to take the lease with you subject to your new employer’s approval.
Your employer makes before-and-after-tax deductions (known as salary sacrificing) to pay for your car and running costs, helping to save money on tax.
When you decide on a novated lease with Flare, we’ll arrange everything for you from identifying and sourcing the car at a great price through our network, helping you apply for finance, to buying your car and having it delivered. We’ll manage the arrangement with you and your employer. It’s that easy.
How does residual value work?
You don’t pay the car off in full over the term of the lease as there must be a ‘residual value’’ amount remaining at the end of the lease period. The amount unpaid is owed at the end of the lease. This is determined using a methodology set out by the Australian Tax Office. When you come to the end of your lease, you have plenty of options:
Trade-up your car and upgrade with a new lease
Re-lease your car and pay the residual amount
Payout the residual amount and own the car outright
Sell the car and use the proceeds to pay the residual amount
Can I change jobs with a novated lease?
You are not tied to your employer because you have taken up a novated lease. If you move on, you have the options to pay your car off, pay the financier directly or alternatively, you may be able to take the lease with you subject to your new employer’s approval.
Can I buy an EV car with a novated lease?
Yes, you can get a novated lease for an electric vehicle and plug-in hybrid with Flare. Our car experts can help you benefit from the significant saving advantages of a novated lease while you help the planet.
When you go electric, you’ll save on fuel and maintenance compared to an internal combustion engine vehicle.
These savings could be amplified even more with a novated lease. Eligible electric vehicles and plug-in hybrids are now exempt from the 47% fringe benefits tax – only if provided through a novated lease. The vehicle must be at first sale less than the luxury car tax threshold for fuel efficient vehicles which is $84,916 as of the 1st of December 2022.* Find out more.
*While vehicles are exempt from paying FBT, there will be reportable fringe benefits for employees.
Do I need to drive a lot to benefit from a novated lease?
This is no longer the case. The Federal Government changed legislation a few years back which made the benefit of leasing universal regardless of kilometres driven. So, it doesn’t matter how much you drive per year, you will still save money. The only thing kilometres impact are your running cost budgets for fuel, servicing and so on.
What if my car's actual running costs are different to what Flare has budgeted?
Flare will try and make sure that your budgets are as accurate as possible, however if your expenditure exceeds what we are taking in budgets – we will contact you about increasing your deductions. Also, if we are taking too much and your actual running costs are less than what we have budgeted then we can look at reducing your budgets.
Terms and conditions
*Displayed price only available through a Flare Cars Novated Lease. Weekly costs are estimates only based on the following assumptions: 1) Gross Annual Salary of 85,000, 2) 60-month lease term, 3)a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Weekly salary payments, 5) lease quotes include like for like running costs for Fuel, Maintenance, Tyres, Registration & CTP and an estimated cost for comprehensive insurance at 2.5% of the vehicle, 6) Vehicle purchased in NSW, 7) 15,000km per annum, 7 ) prices quoted are based on real Flare Car customer orders placed through Macquarie Vehicle Select in the previous 90 days. 8 ) Salary Sacrifice using Employee Contribution Method (ECM). 9) The novated lease offer is based on the assumption outlined above. It is an indicative cost approximation of the selected vehicle and model shown, and the amounts may change at the time the novated lease quotation is completed and finalised. Vehicle discounts & availability is subject to manufacturer production delivery timelines and current stock levels. 10 ) Total Flare Discount Figure is a combination of vehicle discount and GST savings on the purchase price.^The savings shown are indicative and reflect a total of income tax savings, GST savings on vehicle running costs and GST savings on the purchase price of the vehicle over the full lease term. We assume your employer is able to claim 100% GST Input Tax Credits, due to their Input Tax status. The total amount saved compares a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances.The maximum age of the vehicle is 15 years old from the build date at the end of the lease. A motor vehicle qualifies (except a motorcycle or similar vehicle) is designed to carry a load less than one tonne (<1,000Kgs) and fewer than nine passengers for FBT purposes. Promotional period is valid until 30/04/2024.