Selectus Novated Lease review

Save on tax by leasing your work car.

If you need access to a vehicle but don’t want to take out a loan, a car lease could be a suitable alternative. You can rent a new or used car for a fixed term with no obligation to purchase it once the lease has ended.

While there are a variety of lease arrangements out there when it comes to cars, one option worth considering for those who are currently employed and have an employer who supports the arrangement is a novated lease.

A novated lease lets you rent the car you want using your pre-tax salary to reduce your taxable income. Your employer organises for your lease payments to be taken directly from your pay, leaving you free to use the car how you wish.

Selectus offer flexible novated leasing options for those working in education, government or the private sector. You can lease a new or used car for up to five years and choose to incorporate additional car running costs into your lease. Selectus will also help secure your vehicle from their network of dealers.

Find out if a novated lease from Selectus suits your needs in the review below.

No reviews yet. Write a review

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

How does a novated lease from Selectus work?

You can lease a new or used vehicle, or even your existing vehicle, for a term of one to five years. Once you have decided on a lease, you can submit a lease inquiry via the Selectus website and a staff member will contact you.

Selectus will then source your vehicle from a national network of over 850 dealers to help find the one that is right for you. You can also arrange for Selectus to add all other running costs, such as registration, fuel and maintenance in your regular lease repayment. You will use your pre-tax salary to pay for these costs as well.

What features are on offer?

  • Flexible lease terms. You can lease a new or used vehicle for one to five years. You can also get a novated lease on a vehicle you already own.
  • No upfront deposit or GST on purchase price. You don’t need to make any initial payments and will simply pay the lease over the course of the term.
  • Inclusive services. You can opt to have Selectus cover ongoing running and management costs such as repairs, registrations, fuel and roadside assistance as part of your lease. Also, you won't need to pay GST on associated running costs.
  • Simple repayments. You can pay for your lease and any additional services using one regular payment, which Selectus can help manage on your behalf.
  • Test drive. Selectus can help you arrange a test drive of the vehicle you want before you commit to a lease.
  • Vehicle disposal program. Once your lease ends, you can opt to start a lease on a new vehicle and avoid the costs of depreciation associated with car ownership. You can also refinance the same vehicle for another lease term.

How much does the lease cost?

The fees and costs associated with the lease will vary depending on both the terms of the lease and on any additional services included in the agreement. You can opt for Selectus to manage additional running costs such as fuel and insurance, which will then be included in your regular lease repayments.

You may also have to pay additional fees as part of your lease agreement and these will be detailed once you have submitted an application.

How to apply for the Selectus novated lease

If you want to apply for a novated lease, you will need to click the “Go To Site” button above and then follow the instructions to begin the application process. You will need to provide the following information as part of your initial inquiry:

  • Your name and contact details
  • The name of your employer

You will also need to provide further personal and financial details as part of the application process.

If you’re looking to lease a new vehicle, a Selectus novated lease may help you save on tax and let you package all running costs into a simple payment. As with any product, you should consider a range of leasing options before making a decision.

Compare car loan providers

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,001
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
Credit Concierge Car Loan
From 3.35% (fixed)
4.41%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.35% p.a. with a comparison rate of 4.41% p.a.
Get access to over 20 providers to fund a new or used car.
RACV New Car Loans
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 for refinance and dealer sale ($245 for private sale)
$0
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

⭐Special Offer: Wisr's standard establishment fee $605 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
OurMoneyMarket Car Loan
From 5.35% (fixed)
5.65%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
Stratton Finance New Car Loan
From 3.85% (fixed)
4.05%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 3.85% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPSR fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 3 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
Heritage Bank Car Loan
4.89% (fixed)
5.53%
$5,000
1 to 7 years
$200
$5
You'll receive a fixed rate from 4.89% p.a.
Finance a new or used car up to 5 years old. Large maximum borrowing amount up to $100,000 and terms up to 7 years.
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
SocietyOne Car Loan
From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% p.a. and 17.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
NRMA Used Car Loan
From 6.24% (fixed)
6.94%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.24% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
RACV Used Car Loans
From 5.49% (fixed)
6.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.49% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
loading

Compare up to 4 providers

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site