lendlab x Leaselab - The Ultimate Car Finance Experience

Two labs, one mission - helping Australians drive smarter finance choices.

Announcing an Exclusive Partnership between an Award-Winning Finance Broker and leading Leasing Company.

Two labs, one mission - helping Australians drive smarter finance choices.

By creating a unified online experience for customers to learn about their options, shopping for your next vehicle can be done with confidence.

You'll be able to access a free quote service for both Finance and Novated Leasing, providing you with full control in your decision.

We prioritise quality customer service which is backed by our team of experts.

We provide assistance from the initial quote right through to your final approval.

So what is the difference between Car Finance & Novated Leasing? Let's break it down:

Traditional Car Finance: Traditional car finance refers to a standard car loan arrangement between a borrower (individual or business) and a lender (such as a bank or finance company). The borrower takes out a loan to purchase the car, then repays it in instalments (usually monthly) over a set term with interest.

The borrower owns the car from the start (or once the loan is fully repaid), and is responsible for all running costs such as insurance, registration, and maintenance.

Example: A customer applies for a car loan through a broker like lendlab, gets approved, buys the car in their name, and makes repayments over 5 years.

Novated Leasing: A novated lease is a salary packaging arrangement involving three parties — the employee, their employer, and a finance company. The employee leases the car, and the employer agrees to make the lease and running cost payments on the employee’s behalf using a combination of pre-tax and post-tax salary.

This setup can provide tax benefits and convenience, as payments and many car expenses (like fuel, servicing, insurance) can be bundled together and managed through the lease provider.

Example: An employee chooses a car through LeaseLab, their employer deducts payments from their salary each pay cycle, and the employee enjoys the use of the car with potential tax savings.

Traditional Car Finance vs Novated Lease

Feature	Traditional Car Finance	Novated Lease
Structure	A loan between you and a lender to purchase a car.	A three-way agreement between you, your employer, and a finance provider.
Ownership	You own the car (either immediately or once the loan is repaid).	The finance company owns the car; you lease it for a set term.
Payments	Made by you directly to the lender from your after-tax income.	Made by your employer using a mix of your pre-tax and post-tax salary.
Tax Benefits	No direct tax benefits. Interest and depreciation may be deductible for business use.	Potential income tax savings as lease and running costs are paid pre-tax.
Running Costs	You manage and pay all costs (fuel, servicing, insurance, rego).	Usually bundled into the lease, making budgeting simpler.
Eligibility	Available to individuals, sole traders, and businesses.	Only available to employees whose employer offers salary packaging.
End of Term	You own the vehicle outright once the loan is paid off.	Options to buy the car (by paying a residual), refinance, or upgrade.
Flexibility	You can sell or trade the car anytime (subject to loan payout).	Lease is tied to your employment; may need to be restructured if you change jobs.
Purpose	Great for personal or business ownership.	Ideal for employees seeking convenience and tax efficiency.

See if you're eligible for Novated Leasing or Get a Free Rate Quote with lendlab in 60 seconds today!