A Novated Lease is an agreement whereby an employee (the lessee) signs the Porsche Lease Agreement with Porsche Financial Services (the lessor). A Deed of Novation is then signed by the employee, their employer and Porsche Financial Services, thereby transferring responsibility for payments from the lessee to the employer.

Both new and used vehicles can be financed with a Porsche Novated Lease from Porsche Financial Services.

The employer makes the vehicle available to the employee as part of a motor vehicle fringe benefit, and reimburses the employee for all running costs as negotiated in their salary package.

A Novated Lease offers the following key benefits:

To the employer:

• No motor vehicle assets or liabilities reflected on the company's balance sheet;
• no liability for lease payments on termination of employment;
• no unwanted vehicles on termination of employment;
• no residual risk; and
• reduced vehicle administration.

To the employee:

• If the employee moves to another job they take the vehicle and lease with them.
• Your employer will make payments as negotiated in your salary package.
• It may be tax effective for fringe benefits tax and income tax purposes.