What is a fully Maintained Lease?

A Fully Maintained Lease takes care of all your routine car expenses. Under a Fully Maintained Lease, a nominal amount is deducted from each salary or wage payment to cover your car lease, your car’s running costs, and any FBT payable.

If the amount allowed for your car’s running costs is more, or less, than the actual cost, the additional funds may be refunded to you, or you may need to make a top-up payment.

Fully Maintained Novated Lease arrangements commonly include, car servicing and maintenance, accident management services, a fuel card for fuel purchases, roadside assistance, and registration renewal.

A Fully Maintained Novated Lease is a convenient way of organising all of your car-related expenses at once, and knowing in advance that running costs are taken care of – never worry about servicing or registration again.

In contrast, Non-Maintained Novated Leases , or “finance only” Novated Leases allow you to take advantage of potential tax savings through salary packaging and still retain control of your fuel purchases, servicing, maintenance and other running costs.

Only the set lease costs of your car are deducted from your salary or wage payments. All other costs are paid by you as they fall due.

Is Fully Maintained Novated Leasing right for me?

Whether you’re a business or an employee, a Fully Maintained Lease represents an attractive choice for tax benefits, flexibility and management of the vehicle throughout its lifetime. This not only takes away the headache and burden of running a fleet, but it collates all vehicle expenses as one expense item, leaving you time to get on with what you do best, running your business.