Discover how much you could save on the cost of a car with a novated lease. The period of the lease can vary between one to five years. No GST. The type of vehicle you choose: The make, model, and specifications of the car you opt for will affect. Sets of tyres required X Cost of the set / years of lease = Total tyre budget per year. Pay the balloon payment to finalise the loan and take full ownership of the car. Therefore the weekly FBT employee contribution is $115. 63% of the amount financed. A before tax salary sacrifice amount and an after tax contribution towards the FBT to reduce the FBT to $0. It’s a conservative estimate of what your car will be. 77. We understand that car leasing sometimes doesn’t work for a business. Acquisition fee: As with most loans, there are administrative costs associated with. Use our novated lease calculator to find out how much you could save on a new or used car with a novated lease from Flare Cars. The only other thing to watch is FTB. The calculation includes the car, fuel or electricity and on-road running costs to maximise. With a novated lease you pay less income tax and save on GST on the up-front cost of the vehicle and ongoing costs. You may have heard of the residual, or balloon payment, at the end of a novated lease. This calculator provides general information only by using some generic taxation scenarios and some p. 50%. Sarah is now better off by $3,878 a year or $332 a month. Request a quote Book an appointment. Balloon Mortgages, compared to other types of mortgages, aren't as common as other mortgages. The residual percentage applicable is determined by. You do however pay gst on the balloon payment at the end of the lease. 87. It means at the start of the loan a large proportion of your repayments are going towards paying off interest. Why RemServ. au experts on 1300 889 669 today. Technically speaking, a novated lease is a three-way finance arrangement between you, your employer and Clear Lease. Constant Payment. Novated Leasing A vehicle salary packaging solution where you can bundle your costs and save a packet! Electric Vehicles Make the switch to an electric vehicle with a Fleetcare Novated Lease. Re-leasing the car – that is, begin a new novated lease to pay the residual amount. Design a short term loan with a final balloon to lower the regular payment. Novated leases are designed to help savvy car buyers reduce their taxable income by allowing them to pay for a car out of their pre-tax salary (it’s sometimes called a ‘salary sacrifice’). . lease payments are calculated so that, over the 3-year term, they equal $40,000 minus the residual value at the end of the lease, plus interest on the difference residual value is calculated as 46. As the constant payments go up, the balloon payment falls linearly to zero. You can extend your current lease, so long as it meets the used car criteria. GST) has been included in your operating expenses. Novated leasing is an ATO-approved way of reducing tax for both employers and employees. The obligation for the payment is transferred (or 'novated') to your employer who makes. The business assumes ownership of the vehicle but the financier has a ‘mortgage’ over it until the loan is paid, including any balloon payment. This value is calculated by the ATO and is a percentage of the initial purchase price. The ATO says employees can renegotiate a novated lease at any time, subject to the terms of their employment contract. Constant Payment. 14 sets of tyres X $850 per set = $1,819/5 years = $363. It sure can. Model Y Performance $100,206. The election for ‘low value’ leases can be made on a leaseby lease. Doing so reduces the employee’s taxable. Use our handy running cost calculator for a quick view of how much you're spending. 3. Make. Low Doc Car Loans. These calculations and illustrations do not represent or replace professional finance and tax advice. The cost of a set of her tyres is $850. . GST on the above $5,800 = $5,800/11 = $527. . A novated lease is a three-party agreement between you, your employer and SG Fleet. Macquarie balloon/residual refinance – min $5,000. Dividing $8,439 by 130 fortnightly pays is $64. (7. au Disclaimer: All calculations shown above include a number of assumptions and are for illustration purposes only and serve as a guide only as to savings that you might achieve from salary packaging a vehicle via a Fully Maintained Novated Lease. Allow you to defer payment for part of the total loan amount. You can structure your car leasing calculation based on a specified loan term (length) in months or years, amount borrowed (financed), specified. Car and equipment finance is designed to fund equipment that could generate money for your business. Novated Lease Calculator Find out. Novated leasing is a simple, tax effective way to pay for a car that, in most cases, works out. calculator. To properly use the. The residual payment on a novated lease works in much the same way. A FleetPartners Novated Lease is a stress-free, cost-effective way to get, and run, a new or used car. A novated lease is a form of salary packaging and involves a three-way agreement between you, your employer and a finance provider. (balloon) $25,453: $0: $25,453: After-tax cash available after payment of residual: $218,459: $195,928: $186,867: Cash lost. As a member of the Queensland community, we go the extra mile for you – literally – visiting hundreds of workplaces each. 00. So basically, I'm looking to do a novated lease on my used vehicle for 4 year term. 15,000 X 5 = 75,000kms /35000 = 2. Olivia and her employer. Car Lease Calculator With Balloon Payment . 00. The balloon payment calculator is a loan calculator with a balloon payment that helps you to estimate the monthly fixed instalment and the final balloon payment of a given balloon loan construction. Breadth of service; Depth of care;. fixed monthly repayment. There can be a balloon payment at the end of the loan term. Depending on your circumstances, you can save thousands on the purchase price and running costs. Vehicle age – max 12 years at end of term. Mary signed up for a three-year secured car loan with a 7. in short, a novated lease puts the responsibility of payments into the hands of your employer, and your chosen car right into your hands. so are not subject to tax (in reality, novated lease payments are often made with a combination of both pre-tax and after-tax dollars). we take care of all the paperwork!The cost of the pre-tax vehicle (ute) he leases and car running costs are $7,893. the value of the car at lease end. 1-3 year loan term: 50% balloon. Also, keep an eye on the extra insurances, fees and inflated prices for things - my insurance first year of my novated lease cost upwards of $1200. The saving would therefore be the net on the $12. Lease rentals are normally fully tax deductible and treated as lease repayments and interest. 40. 00 (incl. Car finance assumes an interest rate of 7. Smartleasing (our sister company) can help you purchase your next car with an easy and affordable novated lease. If you wanted to lower your repayments, you could increase the loan term. Put simply, a novated lease is a smart way to get into a new or used car. See your participating Kia dealer for full terms and conditions. This is the period of time the car will be leased. In our Novated Lease calculator we use this measurement to calculate each fuel budget; (Litres/100kms) X (Your annual kms travelled/100) X (Average fuel cost per litre) = Fuel budget. over a term of 60 months with a 0% residual / balloon payment. Your vehicle is set up on a novated lease with a fixed monthly payment amount due (terms range from 12-60 months and a set residual, or remaining amount, will apply at the end of the lease term). Whirlpool Forums Addict. These factors include: The length of the lease: Keep in mind that the length of the lease can impact your monthly payments, so it’s important to choose a term that fits your financial goals. What will a car cost me from my current take home pay (after tax)? A good Novated Lease calculator will provide this information up front. Regulated leasing and related services are provided by Onboard Finance Pty Ltd ABN 18 645 542 776, Australian Credit Licence no. You'll notice something called ECM, it's a way of paying the FBT post-tax and probably a cheaper method for the average joe. Often, especially right now with car shortages, you're able to sell your car for a much higher amount than the balloon payment owed. Administrator – interface with each the Employee, Employer and the Finance Company. These repayments cover the whole shebang of your vehicle costs – the lease on the vehicle, insurance, registration, maintenance, fuel and more. What fees do you charge?Travel costs ~$4 per 100km. Car loan vs car lease; What is a car loan balloon payment? Car loans 101; Find a car broker; Calculators;. However, she’s hoping to save for an oversees holiday next year. Stratton is a finance broker. enter your details into the calculator below to find out how. The Residual Value is your novated lease payout figure at the end of your lease agreement and is inclusive of GST. Depreciation fee $479. 1. These payments are made at a set agreed rate over the period of your choice (you can choose between 1 & 5 years). Plus you save an extra 10% as we can claim back the GST on salary packaged items. Second year I shopped around and got the same coverage for $300. Each pay cycle an agreed vehicle budget is deducted directly from your pay using a mix of pre-tax and post-tax salary. Mazda 3. Novated Leasing A vehicle salary packaging solution where you can bundle your costs and save a packet! Electric Vehicles Make the switch to an electric vehicle with a Fleetcare Novated Lease. With MYOB’s novated leasing, you can get the car you want with no finance deposit, and bundle up all your vehicle finance and running costs like fuel and maintenance into one convenient payment. Once the lease ends, you will turn the car back into the financier or dealer. I’d be owning it after the balloon payment of 30k so would have spent a total of 58k for a car that would. Lease Term. Try the Smartleasing calculator to see how much it all costs. Fortnightly Monthly Estimated novated lease payment: $0. Making repayments this way can also reduce your overall taxable income, to give you more money in your pocket. Coupled with the fact that novated leases are predominantly out of your pre-tax income, whereas standard car leases are not. Toyota commercial finance options. It is good because it will: Lower your loan repayments. The ATO sets specific rules around the residual value of your vehicle. Let’s say you buy a new car and borrow £40,000 over five years and elect to have a £10,000 (25%) balloon payment on your loan. 25 Annual Fuel Budget. Novated lease will cost 22. Divide this figure by 1. Novated lease calculator. The residual, or balloon, payment is an amount calculated by the ATO at the end of. Typically in a novated lease if the monthly payment is $1000, you would pay $800 pre-tax and and $200 post tax. 15,000 X 5 = 75,000kms /35000 = 2. 25%. What are you looking for? New Vehicle Used Vehicle Electric Vehicle. Vehicle age for internal Macquarie balloon/RV refinance can be greater than 12 years. Five years of fortnightly pays equals 130 pays. Make. In contrast a balloon payment is a fixed percentage of the total loan that must be paid at the end of the loan agreement. Optional balloon payment available. A balloon payment is a larger-than-normal payment due at the end of a lease or loan. No. A finance lease gives you 100% financing at a known monthly cost with no capital outlay. A balloon payment is a one-off lump sum that you agree to pay your lender at the end of your car loan's term. Over 30 years of experience, and at the forefront of innovation. For that reason, she decided to snap up a loan with a 35% balloon payment, reducing her monthly repayments to $537. Lease price $24,000. GST on the above $5,800 = $5,800/11 = $527. Body type. The cost of a set of her tyres is $850. Term of the finance agreement. Novated lease arrangements allow you to pay a significant portion of your vehicle finance and running costs using pre-tax dollars. Incorporating a residual value or balloon payment into a loan/lease reduces the monthly repayments payable to the financier. We compare annual costs of a novated lease to paying for the same car with after-tax salary. Your novated lease repayments are deducted every pay cycle. Provide the funding institution’s name and the exact dollar amount of your loan. $800 divided by 26 is $30. Novated operating lease. Therefore, you could lease for one year and get a good 100-65. It’s determined by the ATO that novated leases require a residual or “balloon” amount to be paid at the end of the lease. Find and play around with a few novated lease calculators online. Unlike buying a car outright, with novated leases you save on GST, as it doesn’t apply to the product. It has little to do with the actual value of the car itself. In much the same way as a costlier, more durable balloon might be inflated to a greater size than a cheaper one, a more expensive car results in a larger. With a novated lease, your employees can pay for vehicle expenses using a combination of their pre and post-tax salary, reducing their taxable income and the amount of tax they pay. It simply means that your employer pays for your car lease and car running costs out of your salary package through a combination of pre-tax and post-tax salary deductions. You use the value you purchased it for and. Explore financing options and get an estimate on your monthly payments with our Kia Finance Calculator. 37% of original amount financed to enjoy discount at the presently higher tax bracket - hence achieve more saving. 47. This brings his. A linear relationship exists between the size of constant payments and balloon payments. when you first sign your lease contract you will commit to a contract duration and monthly payment. For example, on a 5-year novated lease, the minimum. Your income tax is then calculated on your now reduced salary, meaning. This can effectively increase your. 12, from which the total monthly payment is $93,035. Find out how much better off you'll be with a Fleetcare Novated Lease. Get an estimate. (choose from 1 - 7 year loan term) and. The Residual Balloon Payment Explained. are typically used on car leases, rather than loans. 32. If you earn $70,000 per year (before tax) and your annual novated lease payments add up to $10,000, your taxable income lowers to $60,000. A novated lease could help to reduce your taxable income and get you into the lower band, where you'd only pay 19% income tax. sp00ker. I think there are links to tables in various threads here but this is one example. Reason #1: You can tap into your pre-tax income. 10,000. You won’t even have to wait to start saving – save thousands immediately on a new car with up to $6,191 in GST on the. All you have to do is enter information from your potential or current loan and you’ll get your repayment amount. A lease arrangement also gives you more options at the end of the lease period. You can check out GST and vehicles purchased under novated leases. This is the balloon payment. This means that the payments for the first two months are $0. All Novated Leases are required to have a residual value at the end of term. To give you an idea of how a novated lease cost calculation could end up looking here is an example, based on the following assumptions: Customer is buying a 2023 Tesla Model Y (RWD) Annual gross salary is $120,000. au experts on 1300 889 669 today. A Novated Lease lets you use pre-tax income to pay for your vehicle repayments, which is a tax-effective strategy not available with a standard loan. An employee can reduce their pre-tax income with a novated lease which reduced their overall tax payable. (7. Constant payment = $2,000; Balloon Payment = FV(r = 6%/12, nper = 12*10, pmt = 2,000, pv = -200,000) Balloon Payment = $36,121. Both refer to paying a lump sum at the end of a car loan, but they serve different purposes. The election for the short-term lease exemption must be made based by class of ROU asset. However by 3 years the 55% allowed depreciation is losing against the 60% FBT (3x20%), Unless your Km travelled are very. A year later, I began looking into getting my first property and found out how badly a novated lease affects your borrowing capacity, especially as a single borrower. Follow these steps to calculate your car loan repayment estimate using the car loan calculator: Enter your ideal loan amount. If you find a new job with an employer who agrees to a novated lease, you will be able to ‘re-novate’ your lease and continue making payments as you did in your previous job. Total monthly payment. com. Tesla car loan repayment examples are calculated using monthly repayments with a fixed interest rate, a 5-year term, and estimated vehicle costs per Tesla's website based on 2023 models, as at March 2023. It is a commercial finance product where a financier lends the money to buy a car and the customer makes regular repayments. You definitely want to keep this in mind for when you are setting your residual with your novated leasing provider. We're RemServ. A novated lease is a way you can finance a new or used car. Under both forms of partial novation arrangements, the finance company is making a taxable lease to your employee. Your Annual Salary. Essentially, a novated lease means that your employer is a party to your purchasing agreement, and allows you to pay for your vehicle as part of your salary package (handily saving them some money as well), by paying your car payments for you out of your pre-tax earnings. You don’t have to find the money up front for the car. At the end of the lease term there will be a residual value (balloon payment) owing. when this contract ends, you will need to determine a next step. That would typically demand $746. Zoom, zoom into your new Mazda with a novated lease. (GFV) or equivalent balloon final payment. . See a full breakdown of novated car lease savings - and start saving today!A chattel mortgage is a common way Australian businesses finance cars. How Are Novated Leases. A novated lease from Toyota Fleet Management is a convenient, flexible and cash-free way to drive the car you want. This is the only payment which GST will apply to, saving you up to $5,000 on the total value of the car;. It can also allow you to bundle your vehicle’s expenses into one simple payment. HI, I have a vehicle which is salary sacrificed on a novated lease. discounted rates. 24 Month Lease – 56. There are also administrative savings – Smartsalary can pay your fuel, registration, roadside and insurance costs directly with. benefits of fingo's car finance. Start with the sticker price (MSRP) of the car. You’ll need to consider the make and model of the car you wish to lease, which the calculator uses the Recommended Retail Price (RRP) of the car as a guide. A novated lease residual value, also known as a balloon payment or lump-sum payment, is the amount required at the end of a novated lease term for you to own the vehicle. In the case of a novated lease, the. The obligation for payment is transferred (novated) from you to your employer who makes. Your end of lease options. 4 Year term - 37. Additional interest charges will accrue if you select a balloon final payment option and early termination fees may apply if you elect to make additional repayments during the loan term. Note: The information provided by the calculator is intended to provide illustrative examples based on stated assumptions and your inputs. As Australia’s specialist car finance provider we are expertly equipped to find you the car finance solution that’s right for you. In other words, these are not ‘company cars’ and they do not have to be for business use. It’s law that all novated leases require a residual amount to be paid the end of the finance agreement. Calculations are meant as estimates only and it is advised that you consult with a mortgage broker about. Weekly costs have been determined based on the following assumptions: 1) The lease is a RemServ fully maintained lease, 2) a 5 year term, 3) a residual value of 28. Benefits of an ORIX Novated Lease. So if you save $65 each fortnight you can avoid “bill shock” at lease-end! what is a novated lease? novated leases can be a brilliant way to buy a car. Taxable Income (with a Novated Lease): $112,728 (Tax Payable = ~$27,103) So before Lessor interest and fees, I have saved $2,728 on the car price (due to GST elimination) as well as $9,764 on tax, for a total saving of $12,492. 15,000 X 5 = 75,000kms /35000 = 2. Novated Lease Calculator. One option is a novated lease, the other a car loan, but both finance packages are for the same car – it’s a Volkswagen Touareg, which costs $81,990. A linear relationship exists between the size of constant payments and balloon payments. See the reductions in taxable income and tax payable, plus the mix of pre and post tax contributions that eliminate any FBT liability. au data from 2023, the balloon payment could range from $6,954 to $13,931. A 'Balloon Mortgage' does not reduce over the chosen term of the mortgage. 5 Residual value, also referred to as a “balloon payment”, is the payment required by the Australian Taxation Office at the end of a novated lease term. We have an extensive dealer network and wholesale network, which can help sell the vehicle for you. An ORIX Novated Lease offers flexibility, transparency and our expertise to help you maximise the benefit you receive. Ok. These payments are spread over the balance of the lease term. Common misconceptions around residual values and novated leasing? August 1, 2021. Remember, this is just a few examples. Finally, the calculator includes a. 27/10/2015 by Mark Schneider in Novated Leasing. See some more examples here or estimate your own tax savings with our novated lease calculator – it’s free and gives you your results in a few clicks. You can calculate yourlease repayments based on the amount you wish to borrow, an interest rate, the length or term of the loan in years. All running costs, including lease payments, fuel or electricity, servicing, tyres, rego and insurance are included with your lease, so there's nothing else to pay for your car. GST savings calculated on the vehicle price of $17,600(FBT value). A balloon payment is a lump sum that's due at the end of the loan term. Balloon payments, on the other hand, are based on a fixed percentage of the loan and, as a. Step 1: Calculate your estimated repayments online [H3]. Call 1300 73 14 29. 51. Costs include all the extras you choose (fuel, maintenance, rego and insurance). 47 A 50% balloon payment of $25,000 would make for monthly repayments of. The table below represents the ATO minimum values. When you’re talking like a human being, it means your employer deducts your novated lease payments from your pre-tax salary, reducing your total taxable income. Similar to an actual balloon, your payment at the end of your lease or loan becomes “inflated” — sometimes by more than two times the loan’s average monthly payment. Written by. We will work to get a great price on any car and make sure you get what you pay for. You can extend the lease on your current vehicle and continue to save. Minimum residual value as a percentage of cost = 75%− [ (75% / Effective life ) ), the car’s residual value may also be a significant factor in determining the regular lease payments, and the final payment required to buy the vehicle outright, if you decide to purchase it at the end of the lease term. When entering a novated lease on your existing car, you may choose to claim the GST on the valuation of the car. Insurance commissions (both comprehensive insurance and optional insurances. This value is GST exclusive. This payment option allows you to use a vehicle while making monthly payments for a predetermined period. Car subscription offers most of the benefits of a novated lease with the flexibility of a week-to-week plan. 45 instead. Balloon Mortgage Calculator. Thus, your total repayment amount is $265,549. Rather than paying lease payments themselves, an employer may allow their employees to salary package novated lease payments. Novated Lease Calculator; FUEL SAVING CALCULATOR; 1300 303 357; Book A Consultation; Beyond Bank Login; Member Login; 161 Donald Street, Brunswick East, VIC 3057;. A novated lease is a way to finance a car via ‘salary sacrifice’ or salary packaging. Example – Mary drives 15,000kms per year and is about to start a 5 year lease. However, they also allow a 5. , with a residual value of 46. $65,000. You decide to get a five-year novated lease, and the interest rate is 6%, meaning your monthly payments will be about $536. The residual payment on a novated lease works in much the same way. With a car salary sacrifice agreement and employer contributions, Ben’s taxable income is reduced to $74,106. To reduce the cost of providing vehicles to employees. 5k difference. c. You’re in a full-time job, and you earn $50,000 per annum. The Treasury Laws Amendment (Electric Car Discount) Act 2022 [1] has exempted eligible EVs (priced below the luxury car tax threshold for fuel-efficient vehicles, which is $89,332 for the 2023-24 income year) from Fringe Benefits Tax (FBT) along with the removal of the 5% tariff, which can lead to significant tax savings. Capitalized cost $25,000. If the monthly payment is known, use the "Fixed Pay" tab to calculate the effective interest rate. With Aussie Bike Loans’ panel of lenders, ownership of the motorcycle rests with them until the final payment is made. Costs include all the extras you choose (fuel, maintenance, rego and insurance). But what is it, why does it exist and how can you best prepare yourself for the end of a novated lease? Read more >. a novated lease is a car finance option that comes with big tax saving benefits. To add self-arranged financing to your order, follow these steps: Place your vehicle order. Salary packaging lets you use pre-tax money to pay for certain expenses, which could reduce your taxable income and increase your disposable income. 5. Balloon Payment Calculator. A novated lease is a finance arrangement used with salary packaging. 63% of the purchase price ; 2 Year term has a residual value of 56. This free balloon mortgage calculator will help you calculate your final balloon payment amount for a mortgage with a balloon payment. Example novated lease calculation. Repayments are cheaper: Compared to a monthly car loan repayment, a monthly lease payment is often cheaper. All your lease payments and vehicle running costs are paid from your RemServ novated lease account using a combination of your pre and post-tax salary. Enquire now. Five years of fortnightly pays equals 130 pays. Both novated lease and finance can be used to buy a car for personal use. A novated lease of the kind frequently used to package a motor vehicle benefit is a form of contract which is popular with employers and employees notably because it allows for of the legal portability of the lease. you, try out Maxxia’s novated car leasing calculator here. Novated Leasing . As a result, your pre-tax income is lower, and you would potentially be liable for less tax. 87, including a total interest payment of $65,549. Your monthly payments will be around £576 a month rather than £768 but you will still have to pay £10,000 at the end of your five-year contract. Example – Mary drives 15,000kms per year and is about to start a 5 year lease. Pre-tax monthly payment $547. You can use our car loan repayments calculator to estimate your repayments based on different terms. 14 sets of tyres X $850 per set = $1,819/5 years = $363. 5% per year. Sweet deal! Your novated lease repayments are deducted every pay. also known as a balloon payment, is an amount that is agreed upon at the beginning of a lease agreement, which represents the anticipated value of the vehicle at the end of the lease. If you want to purchase a car, then the absolute cheapest way to do it is a 1 year novated lease then pay the balloon payment at the end. According to the ATO, the residual value % for 4 year novated lease is 37. The novated lease calculator shows all the costs involved so there’s no surprises down. No matter how much you drive, where you live or what you earn, you could save thousands with a novated lease designed to suit your life. You pay no GST on the vehicle purchase price, on fuel or on service and repair costs. 00 Cost of your car: $0. The loan comparison is based on a car loan of 5. Go to calculator. Streamlined Administration: Embrace a hassle-free experience with all administrative tasks managed efficiently by the us your novated leasing provider. All you have to do is enter information from your potential or current loan and you’ll get your repayment amount. Pay the residual amount and keep the car. Dividing $8,439 by 130 fortnightly pays is $64. Lease Term. She discovers that there are extra savings in getting one via a novated lease compared to a car loan. You don’t have to wait until the end of your lease to extend it. Displayed price is only available through a novated lease administered by RemServ. This portion of the loan becomes the balloon payment. The car loan calculator with balloon payment uses an amortisation calculation. Instead of paying out $7,500, I got back $2,500. Finance is available to approved customers of Mitsubishi Financial Services which is a registered business name of Nissan Financial Services Australia Pty Ltd ABN 70 130 046 794, Australian Credit Licence Number 391464. Novated Leasing. Normally, your loan amount will reduce to a $0 balance at the end of the loan term. 32. But remember, this payment will likely be optional. For administration queries, please contact us online or call 1300 134 646. Both refer to paying a lump sum at the end of a car loan, but they serve different purposes. 5%, the vehicle will travel approximately 20,000km’s per year, the mortgage rate is 4% and the lease rate is 6. On a Novated Lease calculator the provider can change the way fuel/charge, tyres and scheduled services are calculated which will reduce the amount allocated to the running costs to make their quotes look cheaper, but in the end you could be paying a lot more. 60. 25. Loans Expert Shaun McGowan. Check out these additional loan scenarios: Want to know what periodic payment will result in a specific final balloon amount? See full list on caranddriver. This is called a salary sacrifice or salary packaging arrangement and it means you end up paying less tax on your income. Novated lease for employees. Then at the end of the term, it becomes due as a final payment of sorts. Estimated out of pocket $794 (fortnight) Estimated savings over the life of the lease $19268. 87, including a total interest payment of $65,549. It’s also a hassle-free way of upgrading your leased vehicle every 1- 5 years, meaning the convenience of warranties, and up-to. Fixed or variable interest rate. most of the providers have online calculators. 13%.