15 April 2012

One of the great things about novated leasing is that there are generally few restrictions on the type of cars that can be novated. Novated Leases are typically used for personal cars (as opposed to company cars), so it is generally up to the employee to choose their own car.

Vehicles over 1 tonne in payload carry certain conditions and motorbikes and vehicles seating more than 8 cannot be financed under a Novated Lease Agreement. In addition, some employers do put restrictions on the types of cars that can be purchased under a Novated Lease, so the employers policy should be consulted.