Can I terminate my novated lease early?
During your novated lease
When you enter into a novated lease, you agree to lease the vehicle for a fixed period. So, it’s important you structure the lease over a period that reflects how long you wish to keep the vehicle for.
If you decide to terminate your lease early, depending on the length of lease that has expired, the payout figure may be higher than the current market value of the vehicle, and typically include fees and charges imposed by the financier.
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.