What are my options at the end of the novated lease?
Your end of lease options
Near the end of your novated lease, we will contact you to discuss your options, that suits your personal circumstances.
You may be able to:
- keep the car by paying the remaining amount owing (conditions may apply); or
- refinance the car (conditions may apply if the car is more than seven years old at the end of the lease, or valued at below $5,000); or
- upgrade to a new car: with Maxxia’s help you would trade in your current vehicle and pay any amount owing; or
- return the car and pay any residual amount owing once the vehicle is sold; or
- Insurance: Make a claim under your Guaranteed Buyback cover (or Residual Protection Insurance if through Coverforce).
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.