Selectus Novated Lease review - finder.com.au

Selectus Novated Lease review

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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.

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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

Data updated regularly
$
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%
$2,000
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.
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration 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 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Credit Concierge Car Loan
From 3.85% (fixed)
4.91%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 (Includes PPSR registration fee)
$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.

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
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
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.
MoneyForJam Car Loan
From 3.25% (fixed)
5.82%
$5,000
1 to 7 years
From $1 to $990
$25
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 4.05% 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.
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% 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.
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.
People's Choice CU Discounted Personal Loan (Car Loan)
From 4.65% (fixed)
4.99%
$20,000
1 to 10 years
$250
$0
Borrow over $20,000 and secure with a new or used car less than 2 years (manufacture year 2018).
Pre-approval, no monthly fees and fixed rate for 5 years.
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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.

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