What is a Novated Lease?
How it works
A Novated Lease offers you a simple and convenient way of including a vehicle in your salary package.
An ORIX Novated Lease is a three-way agreement between ORIX, your employer and you. You simply choose a vehicle; ORIX will then use its purchasing power to get you a great price. All vehicle finance and running costs including fuel, insurance, registration and servicing are bundled into one simple payment collected from your salary, saving you money.
Calculate your savings
Choose your vehicle to estimate your savings and salary impact to see how an ORIX Novated Lease can work for you.
The benefits of an
ORIX Novated Lease
Want to have more control in your life? The ORIX Novated Companion App gives you transparency and visibility of your lease, budget, and reimbursement information. Integrating with ORIX OneView, to give you real-time visibility of all transactions, as well as access to useful information like the location of service centres, how to replace a fuel card or to access breakdown assistance.
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*Offers available on vehicles ordered between 01/07/20 – 31/07/20. The vehicles are subject to availability, state fees and manufacturer price changes. Standard delivery times apply. Actual vehicle may vary from the pictured model. Weekly salary impact may vary based on additional options selected with the vehicle. Weekly salary impact is based on a four-year lease term with 15,000kms travelled annually for delivery in New South Wales. Weekly salary impact is the effect on take-home pay (GST not applicable) with an annual gross salary of $70,000.
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ORIX Novated Lease?
9 questions to ask before you sign
Knowledge is power, especially when entering a Novated Lease for the first time. But if you don’t know what you don’t know, how can you be sure you’re getting the best deal? By asking the right questions upfront, you’re far more likely to identify if a Novated Lease is right for you. So here are nine questions to ask before you sign on the dotted line.
An ORIX Novated Lease is a three-way agreement between ORIX, your employer and you. You simply choose a vehicle; ORIX will then use its purchasing power to get you a great price.
All vehicle finance and running costs including fuel, insurance, registration and servicing are bundled into one simple payment collected directly from your salary; your employer then makes the payment to ORIX.
You can choose any make and model–new, used or a luxury vehicle. ORIX can even purchase your current vehicle and lease it back to you. Although most vehicles are eligible for an ORIX Novated Lease, some vehicles may be ineligible (for example, vehicles older than ten years or greater than 200,000 km by lease end). Please contact an ORIX Novated Leasing Specialist for more information.
Yes, you can organise the price from your local dealer and ORIX will purchase from them directly. Alternatively let ORIX find the best price for a new vehicle from within ORIX’s preferred dealer network.
Yes, provided the vehicle will not be older than 10 years or greater than 200,000 klms by the end of the lease. This includes ORIX purchasing a vehicle your already own or have under finance.
You can use the supplier locator on the ORIX Novated Companion App or on this website via the Driver Support page.
Approximately three months before the end of your lease, ORIX will send you a reminder. We will work with you to choose what to do next.
You may be able to extend the term of your lease, offer to purchase the vehicle from ORIX, or finance a new vehicle. If you have a finance lease, there will be a residual amount that you will need to pay to ORIX. If you have an operating lease, there is no balloon amount or similar to pay.
ORIX sets the residual value based on the lease term, in line with the ATO’s minimum residual value guidelines. For Finance Leases, this residual value will be set out on the quote.