The Finance Algorithm
CommBank

Novated Lease

Motor vehicle finance for employees through salary sacrifice.

LeasesRates on applicationBank updated 23 Sept 2026
At a glance
Pricing
Rates on application
Fixed
8.29%
Loan size
$20,000 to no maximum
Upfront fee
$125
§ 01 — Rates · 3
TypeApplies toTermBandRateComparisonConditions
Discount1.00%Certain GREEN vehicles and equipment may be eligible for a discount of up to 1%
FixedRate shown is indicative, current as at the time of publishing and is dependent on but not limited to the term of the finance, amount financed, suitability of the financed asset and credit assessment…P&I1 yr fixed8.29%
PenaltyDefault Rate on any amount due and remaining unpaid. The Default Rate is a rate that is 3% per annum above the Interest Rate we use to calculate the payment under the Contract.3.00%Default Rate on any amount due and remaining unpaid. The Default Rate is a rate that is 3% per annum above the Interest Rate we use to calculate the payment under the Contract.
§ 02 — Fees · 5
FeeTypeAmountWhenNotes
End of Term Refinance FeeEvent$544.50Fee charged to refinance or roll-over the residual value under a facility.
Early Termination Administration FeeExit$654.50Fee charged to process the termination of a contract before the contractual termination date.
Standard Documentation FeeUpfront per plan$595Fee charged to establish a facility.
Specialised Transaction FeeUpfront$125Fee charged per asset for buyback, private sale or refinancing from another financial institution.
Early Repayment Adjustment FeeVariationVariesFee charged when a customer repays prior to scheduled maturity (irrespective of the circumstances causing the early repayment) and the Bank makes a loss due to the pre-payment.
§ 03 — Features
  • · Flexible Lease Structure: Customise the lease and repayments to your needs.
  • · Get Fast Approval: It's easier to upgrade or replace financed assets if you have 12 months of good repayment history.
  • · Quick and Easy: Get a fast quote over the phone or online. Sign your agreement online to avoid paperwork delays.
§ 04 — Eligibility & limits
  • · Minimum age 18
  • · Available to businesses
  • · Amount $20,000 to no maximum
  • · Eligible to work in Australia
  • · An employed individual eligible for salary sacrifice arrangements with employer.

Published by CommBank under the Consumer Data Right, last changed by them on 23 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.