Novated Lease - OneBuy

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Save thousands on your next car

Use your pre-tax income to reduce the cost of your next vehicle without the complexity

Potentially save thousands compared to traditional purchase
Take advantage of EV tax benefits (including FBT exemption where applicable)
Simple, flexible structure—no bundled running cost markups
Available to staff of OneBuy member organisations

Why this approach is different

Most novated leases bundle in running costs: fuel, maintenance, insurance. This can increase risk margins, increase total cost and reduce transparency.

We’ve taken a simpler approach:

Finance-only structure (non-maintained lease)
No inflated allowances for running costs
You retain full control of how you run and manage your vehicle

It’s a smarter, more transparent way to finance your car.

Even more compelling with EVs

Eligible EVs are exempt from Fringe Benefits Tax (FBT)
Lower running costs vs petrol vehicles
Increasing availability and choice

This combination of tax efficiency and lower operating costs can significantly improve the overall value of a novated lease.

Novated Lease Calculator

This calculator compares a novated lease with the real cost of using your own money to buy a vehicle now. We do that because spending cash today has an opportunity cost. A simple and conservative way to allow for that is to assume the money would otherwise stay in a mortgage offset account for the same period.

Fillable inputs

Edit these fields

Annual salary (ex super)

Used to estimate annual tax before and after novation.

Vehicle purchase price (inc GST)

Lease term

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Repayment and residual are auto-calculated from the selected term.

Mortgage offset rate

Used to estimate the opportunity cost of using cash now.

This compares novated leasing with the real cost of spending cash upfront. On the cash side, the model assumes that money would otherwise remain in a mortgage offset account for the full lease term.

Key results

Auto-calculated

Estimated savings from novation

Compared to using cash and leaving funds in an offset account.

Total paid out of pocket for novation

Purchase price (inc GST)

The upfront cash price of buying the vehicle outright.

Real cash price incl. opportunity cost

Monthly repayment before tax (Ex GST)

$0.00

Estimated monthly reduction in take-home pay

$0.00

Calculated end-of-lease residual (Ex GST)

Annual tax saving on repayments

Assumptions
Vehicle price entered is GST-inclusive. Novated lease calculations use Ex GST vehicle values and Ex GST residual values. This calculator assumes the FBT exemption applies. Estimated tax savings are based on Australian resident income tax rates and Medicare levy for 2025–26. The offset comparison assumes the purchase price would otherwise remain in a mortgage offset account for the full lease term.

Important
This calculator is an estimate only. It does not take into account individual circumstances or investments.
This calculator does not take into account non-GST items on the purchase of a vehicle.
We recommend you always speak with your accountant or financial adviser.

How does this work with my employer

This form of novation is very straight forward and transparent for all parties involved.

Click below for a one page summary of how it works for Employers.