Novated Lease

Discover the benefits of paying for a new or used car via salary sacrifice.
Category: Leases  Last Updated April 30, 2026  Effective June 3, 2026

 General Lending Rates

No product information is currently listed. Please make contact with us for more information.

 Product Features

  • Other Additional Information: Existing Westpac Equipment and Vehicle finance customers may qualify for fast approval.
  • Relationship Management Additional Information: Subject to terms and conditions, relationship management is available for eligible customers.
  • Other Additional Information: Equipment and Vehicle finance product - Novated Lease available with Minimum finance amount of $15,000 and term from 1 to 5 years. Finance could be structured over the life expectancy of the asset.
  • Other Additional Information: Get certainty with fixed payments on a novated lease
  • Other Additional Information: Smoother cashflow - Make small regular payments instead of a large cash outlay upfront when you buy a car
  • Other Additional Information: Based on your choice of business finance option you could benefit from ongoing tax benefits
  • Other Additional Information: Revolving limit is available
  • Other Additional Information: Residual value for novated lease is available.
  • Other Additional Information: Once the employee selects a car, they enter into an agreement with their employer and Westpac to have the lease payments deducted from their pre-tax salary.
  • Other Additional Information: Payments via Direct Debit or invoicing
  • Other Additional Information: No minimum distance requirements - Drive as little or as much as you want.
  • Other Additional Information: Flexibility when the lease ends - Refinance, choose to buy the car, return it to us or upgrade to another one.

 Product Eligibility

  • Min Age - 18. Additional Information: be aged 18 years or over
  • Other Additional Information: New customers who borrow up to $150k and existing customers who borrow up to $250k and must own residential property
  • Other Additional Information: Have a regular permanent income
  • Other Additional Information: Hold a current Australian driver licence or learner permit

 Bank Fees and Charges

  • Loan Establishment Fee (Upfront), Amount: 500.00. Additional Information: Charged to cover the costs of originating your Goods Loan, Hire Purchase or Lease and payable by you on or before the settlement date.
  • Asset Inspection Fee (Event), Amount: 150.00.
  • Legal Fees For Complex Documentation (Variable), Amount: Not Listed.. Additional Information: Where we require External Lawyers to document some or all of your contract documentation, we will advise you of this fee before proceeding. It will be payable on or before the settlement date.
  • Early Termination (Event), Amount: 440.00. Additional Information: Applicable when you terminate your Lease or Hire Purchase early.
  • Break Costs (Variable), Amount: Not Listed.. Additional Information: Break costs are not a fixed amount and are determined by a number of factors specific to your product.
  • Overdue Rate (Event), Amount: Not Listed.. Additional Information: This charge applies on overdue amount from the time it is due until it is paid.
  • Personal Property Security Fees (Variable), Amount: Not Listed.. Additional Information: Personal Property Security Fees apply when search and registration fees are applicable. Where charged individually, these will be itemised on your Details and for the current costs, please refer to the PPS Registrar?s website

 Limitations & Restrictions (Constraints)

  • Min Limit of 15000.00

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