Fully Maintained Novated Lease

Financing a car is challenging. Besides a house, it is probably the least cost-friendly asset to own.

A fully maintained novated lease is a viable financing option. It is the perfect path to car ownership.

What is a Fully Maintained Novated Lease?

A fully maintained novated lease is a method of vehicle financing. It is a tripartite agreement between an employer, his employee and a finance company. To date, it is the most common form of salary packaging.

The employer agrees to fund the cost of the vehicle with his employee’s salary. He takes on all financial obligations under the employee’s car lease, including insurance, servicing, accident management, and registration. The finance company deducts the lease rentals from the employee’s pre-tax income.

How a Fully Maintained Novated Lease Works

A fully maintained novated lease is for anyone who has a salary. It is an optimal choice if you drive many kilometres. Such a contract allows you to own the car of your choice and include it in your salary package.

The financier deducts costs such as insurance and accident management from your pre-tax salary.

Par Leasing makes it possible to own a car at fleet discount prices. The savings you will accumulate from a Fully Maintained Novated Lease agreement are substantial.

We administer the lease and coordinate the delivery of your new car. A novated lease simplifies car financing because your salary pays for all running costs.

Selecting a Fully Maintained Novated Lease

There are many novated lease options, so taking time to consider them carefully is wise. Take these factors into account when comparing Fully Maintained Novated Leases.

1. Flexible Repayment Plan

A Fully Maintained Novated Lease should allow you to make manageable monthly repayments. Making repayments that are well-planned and regular, instead of in infrequent lump sums, will reduce your financial stress.

2. Operating Cost Flexibility

A Fully Maintained Novated Lease should provide operating cost flexibility as well. One of these servicing and maintenance costs is fuel. A lease agreement should offer flexible fueling rates.

3. Coverage

Different novated leases offer different types of coverage. Most will cover insurance, fueling, maintenance, and accident management. Consider a package that provides the best coverage.

The Pros and Cons of a Fully Maintained Novated Lease

There is no perfect lease plan. Like other agreements, Fully Maintained Novated Leases have their benefits and disadvantages.


a. Substantial Savings

A Fully Maintained Lease allows you to save on your car purchase. It leaves your financier room to source for a car and a better price.

A Fully Maintained Lease offers better savings than other finance agreements. Since your financier will make deductions on your pre-tax income, you will have more ready cash.

b. Saves Time

A Fully Maintained Lease agreement saves you the effort of searching for a suitable vehicle. They also spare you the hassle of long-drawn negotiations with car retailers.

c. Total Car Management

A Fully Maintained Novated Lease covers the operating costs of your car. It allows you to enjoy pre-authorized service and maintenance on your vehicle. The agreement includes all running costs, including fueling, tyre changes, and accident management.


A Fully Maintained Lease may not suit you if your income is not regular. Business owners and freelancers may not be able to account for the expenses.

Does a Fully Maintained Novated Lease suit you?

A Fully Maintained Lease will suffice your needs if you earn a fixed income. You can make repayments for as long as you draw a salary.

Consider a Fully Maintained Novated Lease if you need a vehicle for business purposes. The Australian government stipulates that owners should use their cars for business reasons 80% of the time.

A full novated lease is perfect for you if you are an employee who works on a contractual basis. The agreement is valid as long as your next employer is a willing party.

Things to avoid about fully maintained novated leases

A Fully Maintained Novated Lease makes car ownership a reality. However, part of your income will go toward the servicing and maintenance of the car. You will have to compromise on your other lifestyle needs. Sift through the details of the lease and understand their implications for tax, repayments, and interest charges.


Par Leasing is part of the Allan Mance group of companies and has a wealth of industry experience.

Climate change is a stark reality. Par Leasing is an active advocate for the environment. We are now finalising our carbon offset program and rely on fleet reporting systems to track vehicle emissions. Our company aims to keep the release of carbon emissions to a minimum.

Par Leasing has a reliable dealership network and direct links to manufacturers. We source quality vehicles from regional and local dealerships as well. Our company places priority on consistency and competitive pricing.

We offer an Excess Kilometer Buffer as part of our Fully Maintained Novated Leases. There is no charge on extra distance unless your car has travelled more than 5000 kilometres.

Par Leasing complies with industry standards regarding wear and tear. We offer a buffer of at least $500 for each vehicle.

Lease agreements have to change according to a vehicle owner’s circumstances. We offer unlimited modifications to leases, free of charge.

We value long-term client relationships at Par Leasing. Should you need to return your vehicle ahead of the expiration of the lease, we will try to reduce the return fee. We take into account the maintenance that you have not used.

Par Leasing provides Fleet Management services. Our extensive experience in the dealership industry allows us to offer unique services like online management and maintenance. We will reduce these costs to a minimum.

Our salary packages are customizable. We will come up with the most cost-efficient method for you to manage your car fleet. Our services include advice on vehicle acquisition, maintenance management and finance disposal.

How to apply for a fully maintained novated lease

Securing a novated lease with us is simple. Just navigate to our contact page and fill in your information. Our customer service professionals will liaise with you quickly.

Alan Mance Motors Driving Satisfaction Since 1978