Types of Novated Leases
There are a couple of types of novated leases available when it comes to financing a car:
Fully maintained novated lease
This type of lease is one that is maintained by a third party, who can also assist with sourcing the car, negotiating the price, arranging finance, conversing with the mechanics that maintain your vehicle and creating a budget for your running costs. Most people tend to select this option as it allows peace of mind and you can go about your day knowing that when it comes to your car, things are taken care of.
Self-managed novated lease
This type of novated lease is one where you are in complete control. You handle everything from start to finish (vehicle sourcing, financing etc) and when it comes to maintaining the vehicle itself, you take full responsibility when it comes to ensuring your vehicle is being looked after by trustworthy professionals.