Is a novated lease worth it?

The final lease payment needs to be paid at the end of the lease. Most people sell or trade in the car to cover the payment then take out a new lease on another car. You can also finance the residual amount or pay it out from savings and keep the car. Any money received through the sale of the car over and above the final payment due is yours to keep. If your vehicle’s value is less than the residual value due then you need to make up the difference. You can put money in your expenses balance towards the final payment however, only once it has been returned to you via your employer payroll.