Novated Leases

What is a Novated Lease?                    

A Novated Lease is a three way agreement between

an employee, employer, and FleetPlus Novated.
 

The Novation Agreement allows for a third party to meet your monthly lease payments between yourself and the finance company, in this instance FleetPlus Novated. The third party is your employer, whilst you are under their employ. However, should your employment situation change, the lease can be transferred to you or your new employer.
 

The Novated Lease exists between you and FleetPlus Novated via the Novation Agreement. This means your employer is responsible for the lease obligations whilst you are in their employ and the agreement ceases when your employment is terminated. The Finance Lease between you and the finance company will remain in place.