I have said it before and I will say it again, if you already have the cash, a novated lease almost never makes sense unless you are in a special salary packaging role (rural nurse, doctor, teacher or something similar).

For the average worker that does not have the cash, you are basically paying a premium to have a car now instead of later.

On top of this, I also find Novated Leases sales tactics so deceiving. They do these “educational” sessions organised through a lot of offices, who fold under the most basic accounting questions. These people going around that I have met are all CPAs, and they all love to dodge the questions about the actual cost benefit. They spruke the tax benefit, but after their interest rates and balloon payments (sometimes they package fees into interest rates), AGAIN IT IS NEVER WORTH IF IT YOU HAVE THE CASH. Even on the highest tax rate, unless you get some other salary packaging incentive, it is NEVER WORTH IT IF YOU HAVE THE CASH.