• End of lease options

  • There are three options available to you at the end of your novated lease:

    1. Upgrade and novate a new car with LeasePlan and keep enjoying all the perks of a novated lease
    2. Extend your current lease for a further term with the same car
    3. Pay the residual value and own your car outright.

    What happens at the end of your novated lease?

  • End of lease options

    Take a deep dive into your end of lease options below. Have more questions? Chat with a novated specialist today.

    Lease a new car

    You can start a new novated lease with us for your next car. This is the ideal option if you want to change models, update to the latest auto-tech, or maybe even switch to an electric vehicle. Here’s what you need to consider:

    If you plan to sell your existing car:


    If you want to keep your existing car:

    • Did you know you can have more than one novated lease and still enjoy the tax benefits and convenience on all of them? You could get a new lease and extend your current lease – and you don’t even need to be the driver! This can be a great idea if you need a car for a family member.

    Start planning as early as you can as new car availability can cause delays. Get in touch with our team and we'll be happy to help.

      Extend your lease

      You can extend the lease on your current vehicle and continue to enjoy the benefits of a novated lease. You can extend your current lease, so long as it meets the used car criteria.

      Timing

      • You don’t have to wait until the end of your lease to extend it. If you're happy with the quote provided, we can proceed with it straight away.

      Check your budgets

      • Let's chat so you understand your current usage and ensure you don't have to pay too much each month or at the end.
      Payout your lease

      If you wish to pay the residual value on the car and own the car outright, there are a few steps we'll walk you through.

      Transferring ownership

      • Payment
      • Settlement
      • Security
      • Registration, insurance & Roadside Assistance

      Note:

      1. GST will apply to the Residual Value or the Early Termination Price of your car
      2. Any surplus funds from your operating budgets cannot be used towards the payout amount. They must be treated separately for tax purposes.