Vehicle Purchase Calculator

Australia only. Compares a novated lease, a car loan and a cash purchase of the same car over the same term. Defaults are examples, not a quote.

Your car

Gross salary per yearExcluding super

Car priceWith GST and dealer delivery, before stamp duty and rego

Car typeSets FBT, stamp duty and the fuel cost

State or territory

Term, years

Start dateFirst registered and used

Stamp duty

Running costs per year, all three options

Rego and CTPNo GST. The first year counts here

InsuranceWith GST

Servicing and tyresWith GST

Fuel or charging

The account the money comes from

Cash in the account todayOffset or savings balance

Account type

Mortgage owingThe offset saves interest up to this amount

Account interest, % p.a.Mortgage rate for an offset

Total cost of the car

Novated lease

Paid from salary before tax. Balloon at the end.

Monthly payment, before tax

Fringe benefits tax

Lease settings

Lease interest, % p.a.Financier rate on the quote

Lease balloon, %ATO minimum for the term

Lease provider fees per yearPre-tax

Fuel or charging paid through the leasePaid pre-tax by the provider

Lease without the FBT exemptionCompare with the full 20% FBT rule

All lease numbers

GST credit claimed by the employer

Amount financed, without GST, with stamp duty

Post-tax contribution per year

Reportable fringe benefit per year

Running costs per year, pre-tax

Residual, without GST

Balloon at the end, with GST

Car loan

Price and stamp duty borrowed, repaid from take-home pay.

Monthly repayment, after tax

Loan settings

Loan interest, % p.a.

Cash purchase

Price and stamp duty leave the account on day one.

How it is worked out

Per year

Line	Novated lease	Car loan	Cash purchase

Account balance year by year

End of year	Novated lease	Car loan	Cash purchase

Fringe benefits tax for this car

Stamp duty and lease payment

Assumptions and what is left out

Australian tax resident, no HELP debt, no other income. Salary and running costs stay flat for the whole term.
Salary, payments and running costs are paid at the end of each month. Some lease providers charge in advance, which makes the payment slightly lower.
The account holds the cash today and the money the car takes out or gives back. Salary and living costs are the same in every option, so they stay out of it.
The account earns interest every month. Offset interest is tax free and only counts on the balance up to the mortgage owing. Savings interest is taxed at the end of each year. A balance below zero costs the same rate with no tax deduction.
The mortgage owing stays the same for the whole term. In real life repayments lower it, so a large offset balance can pass it sooner.
Left out: super, early termination fees, car resale value, road user charges, stamp duty inside insurance premiums and the base value drop after 4 years.
This is not tax or financial advice. Check real numbers with a lease quote and a tax professional.

Sources for every number

Each fixed number in the calculation, where it comes from, and when it was checked. The same links sit behind the i icons. A row marked as an assumption has no source: change that input to your own number.

What	Value used	Source