What is a car lease?
Otherwise known as a finance lease, if you’re using your vehicle mainly for business purposes, a car lease effectively works like a long-term rental.

How does a car lease work?
The lender purchases the vehicle on your behalf, and then leases it back to you. You’ll pay a fixed monthly lease rental for the term of the lease.
When the lease comes to an end, you’ll be given the option to purchase the vehicle by paying a final lump sum (the residual value) directly to the finance company, restart another lease to pay off the remaining balance on the vehicle or trade the vehicle in.

What else do I need to know?
Flexible contract terms ranging from 12 to 60 months (one to five years)
A residual can be applied to a lease, lowering monthly payments
Fixed interest rate and monthly lease rentals
As the GST contained in the car’s purchase price may be claimed back by the lender, only the vehicle’s price exclusive of GST is financed, lowering monthly payments*
* Please refer to your accountant for eligibility.
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Any calculation made using this repayments calculator is intended for illustrative purposes only. The calculator does not take establishment fees, stamp duty, or other government charges into account. Any calculations made should not be relied upon for the purposes of deciding whether to apply for a loan.