What happens to the vehicle at the end of my novated lease?

If you choose to purchase the vehicle at the end of the lease term, the residual value, including GST, is payable as a post-tax amount.

Option 2: Choose a new vehicle and novated lease

If you're ready for a different vehicle, you can choose another car and, if you're eligible, start a new novated lease.

It's also a good opportunity to think about whether your vehicle needs have changed since your current lease began.

You might need more space, be looking for newer safety or technology features, or be considering an electric or hybrid vehicle.

Starting the process before your current lease ends gives you more time to explore your options and choose a vehicle that suits your needs.

Option 3: Explore other end-of-lease options

Your circumstances may have changed during your lease, so it's worth understanding all the options available to you.

Speak with your novated leasing provider before your lease expires. Depending on your lease arrangement and circumstances, there may be other options available for managing the vehicle and residual value.

Starting the conversation early gives you time to understand the process and any costs or requirements involved.

What should I do before my novated lease ends?

You don't need to wait until your lease expiry date to decide what's next.

Start considering your options in advance, particularly if you're thinking about choosing a new vehicle. This gives you time to understand your end-of-lease obligations, explore available vehicles and plan your next steps.

If you're unsure which option is right for you, the Custom Fleet team can explain your end-of-lease options and help you understand what happens next.

Whether you're considering keeping your current vehicle or looking for your next one, we're here to help.