FAQ: What happens if I have a Novated Lease and I change jobs?
What happens if I have a Novated Lease and I change jobs?
If you have a salary packaged car and are changing jobs, the good news is that your Novated Lease and your vehicle are portable.
If you're planning to leave your current employer you should let your stratton consultant know in writing as soon as possible. Your Novation Agreement with your current employer ends when your employment ceases.
You can enter into a new Novation Agreement with your new employer or contact your stratton consultant to explore alternative car finance options, such as continuing to make your monthly lease payments under your existing finance agreement (less any previously included running costs), or making an offer to purchase the vehicle and pay-out the lease.