What happens to my novated lease if I leave my current employer?
On terminating employment, the employer’s responsibility for a novated lease ends, and the total responsibility reverts to the employee. This is something that must be considered when you are making a decision about packaging a car – the car can become unpackaged. When you are changing jobs, the novated lease can be re-novated to the new employer and therefore remains packaged. When changing jobs, it is important to ask your prospective employer about re-novating the car to them. This is a simple process and can be handled by the finance company leasing the car.
