All novated leases require you to pay a residual (aka ‘balloon’) amount when the lease ends. The amount you have to pay is calculated using tax rules and gets applied to the amount that you finance. The amount depends on how long your lease term was, and the estimated value of the car when the lease ends. Get in touch and Oly can help calculate the residual amount you’ll need to pay.
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Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Oly may receive commissions in connection with its services.