You were given one quote.The finance inside it was not priced.
A novated lease is two things: the finance on the car, and the administration of your pre-tax deductions. Your employer chose who administers it. The loan underneath can often be arranged separately — that is a self-managed novated lease, and your provider keeps doing everything they do now.
Your provider administers the lease. They don't have to be the lender.
The two roles get bundled into one quote and presented as one decision, which is why almost nobody separates them. They are separable.
Administration
Payroll deductions, running-cost budgets, the fuel or charging card, FBT reporting. Your employer's provider does this and it is unchanged by a self-managed lease.
Finance
The loan on the car. This is the part carrying an interest rate, the part a bundled quote does not itemise, and the part that can often be arranged separately.
What the difference has actually been
Whether a self-managed lease is cheaper in your case depends entirely on the rate inside the quote you are holding. Upload it and you will see the comparison on the same car and the same term — no email needed to see the result.
Compare the quote you were givenHow it goes
- 1Get a finance quote on the same car
Not a different car, not a different term — the same one you have been quoted on. That is the only way to see what the finance inside the bundled quote is actually costing you, because a bundled quote states a periodic payment rather than a rate.
- 2Ask your provider for a self-managed lease
The words matter more than they should. A consultant working from a bundled quote may not recognise the request phrased another way, so name the product: self-managed, BYO finance, or finance-only.
- 3We hand over the paperwork
Finance approval, the novation deed and the dealer invoice, in the format administrators file without asking twice. We deal with them directly. Your deductions, budgets and card carry on exactly as before.
What they will need
- Written finance approval
- The novation deed
- The dealer tax invoice
- Proof of identity
- A payroll start date
Whoever administers your packaging, it works the same way
The paperwork is the same instrument in every case — a finance contract and a deed of novation. What differs is your employer's arrangement, which is what actually decides whether you can arrange the finance yourself.
Tell us who administers your packaging and who you work for, and we will tell you what we know about that combination — including where we know it is restricted.
Get a quote on the same car
Send the car you have been quoted on and we will price the finance separately, so you can see what the bundled quote was charging for it.
Common questions
What is a self-managed novated lease?
A novated lease where you arrange the finance on the car yourself instead of using the finance bundled into your salary packaging provider’s quote. The provider continues to administer your pre-tax deductions, running-cost budgets and reporting. Only the finance changes.
Is it the same as a BYO novated lease?
Yes. Self-managed, BYO (bring your own) finance, finance-only, employee-arranged and externally financed all describe one arrangement. Providers use different words for it, so being told they do not offer one of them is often a vocabulary mismatch rather than a policy.
Who decides whether I am allowed one?
Your employer, through its salary packaging arrangement — not the provider. The provider administers; the employer sets the policy. Some arrangements expressly allow an external financier, some expressly require a panel, and many say nothing about finance at all, in which case it is a question to put to your employer in writing.
Does anything change for payroll?
No. Your pre-tax deductions, running-cost budget, fuel or charging card and FBT reporting all continue through your existing provider. Nobody in payroll does anything differently.
What happens with the first payment?
Novated leases normally start with a deferral of about two months. That is deliberate: it lets your salary packaging provider accumulate deductions and fund the first lease payment from your packaged balance, so the arrangement runs through payroll from the start the way it is meant to.
What if I leave my employer?
The same as any novated lease — the finance travels with you. You can re-novate with a new employer or continue the repayments directly. That is a feature of novation itself, not of who arranged the finance.