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What’s the most cost effective way to buy a car?

Have you ever wondered how novated leasing compares to other types of car finance? This table allows you to easily compare a Fleet Network novated lease including your vehicles running costs against a traditional car loan, paying cash or borrowing against your home loan. A novated lease comes out on top as the simplest and most cost-effective way of buying a car.

Car Loan



Novated Lease

Mazda CX-5 GT
purchase price
$45,231Fleet Network discounted purchase price
Cost of finance over 5 years$61,800$53,940N/AIncluded
Running costs$29,727$29,727$29,727Included
Novated lease cost including running costs and tax savings$0$0$0$73,415
Total cost over 5 years$91,527$83,667$78,212
$73,415(inc. residual)Just $239/week running costs included

Borrowing against your mortgage - warning

If you borrow against your mortgage to finance a car, you need to be aware of the consequences across the life of your loan. You will end up paying significantly more interest over the 30 year term.


*Figures quoted include all running costs budgets i.e. finance, fuel, servicing, tyres, maintenance, insurance and rego. The novated lease figures include an $11,369 residual value inc. GST. Figures are based on: a new Mazda CX-5 2019, travelling 15,000km pa, 60 month lease term, gross salary $65,000pa. Vehicle pricing and finance rates are current as of August 2019, are regularly updated and therefore may be subject to change. Novated lease calculations: Employee Contribution Method for FBT purposes; the total cost over life reflects the net effect after tax and includes a Fleet Network admin fee. Comparison interest rates quoted for novated lease is 7.09% p.a., 9.99% p.a. for car loan and. 4.24% for mortgage loan. The total life cost for a mortgage loan reflects borrowing the purchase cost of the car against the mortgage and accelerating the payments to offset the change in interest charged and paying this additional amount off over 5 years, essentially a car loan at 4.24% p.a.

All salary levels and tax brackets can save tax!

Generally speaking the more money you earn the more you save. Contact us today to get a quote based on your income and see how much you can save.

We are dedicated to getting you the best result on your novated car lease.