Remunerator News

May 31 2021

What Happens at The End of My Novated Lease?

What happens at the end of my novated lease?

Are you wondering ‘what happens now?’ when your lease comes to an end?

You are not alone in this train of thought, and our novated leasing specialists are here to guide you through your options as smoothly as possible when your lease term is up.

Three most common options at the end of your novated lease include:

  1. Upgrade to a new car
  2. Extend your existing lease
  3. Pay out the lease

Upgrade into a New Car

Are you ready for a new car? With a novated lease, you have the option of upgrading into a brand-new car!

You can choose any car you want (within your budget). This is a great time to consider what car will best suit you for the future! Perhaps your life circumstances have changed, and you need something bigger… or smaller… and faster.

This is by far the most popular choice among our customers. Our novated leasing specialists are here to help you upgrade into your new car and save thousands while doing so!

Extend Your Existing Lease

Have you fallen in love with your car and are not ready to part with it? That is okay too!

With Remunerator, you have the option to extend your current lease, potentially with lower repayments too.

You will still experience all the tax benefits, running cost savings and the convenience that made you fall in love with your lease in the first place.

Another benefit is that the residual value will be lowered too.

Pay Out the Residual

There are two options when paying out the residual:

  1. Sell the car with Remunerator’s free Sell My Car service and pay out the residual.
  2. Keep the car and pay out the residual.

Our novated leasing specialists will be in touch with you well before the end of your lease to help you navigate your options.

If you have any questions, do not hesitate to get in touch with your personal novated leasing consultant, call 1800 501 703 or email novated@remunerator.com.au