What readers say

"I had already validated my provider's figures using novatedlease.guide and they checked out."

"Putting the figures in the novatedlease calculator I'm getting around 25-30% effective interest rate, which seems stupidly high for a $40k car."

"Where they say it's 7.5% interest, but they add a $1,500 fee, the comparison rate is actually more like 9-10%. To get the actual comparison rate you need to use a calculator like novatedlease.guide."

"There's a pretty good calculator here to compare a novated lease to a regular car loan."

"I've had to reverse engineer the finance rate to compare. That's why changyang's spreadsheet is so useful."

"Have you checked out this amazing calculator made by changyang?"

"When plugging the quote into Changy's spreadsheet, it looks like we've been quoted an effective interest rate between 15-18%, amongst other hidden costs."

"A fine piece of work. Everyone I know uses it. Respect and thanks."

"A member here has posted a spreadsheet that covers every conceivable factor in an NL."

"His sheet was amazingly helpful. Compares NL to loan to outright, along with a bunch of other helpful info."

"Really appreciate the effort you've put into your spreadsheet so that people can actually compare the costs."

"For the effective interest rate calc, it returns me 21.33%. Very eye opening."

"Always use the community calculator. No fuss, straightforward, not affiliated with any company so no follow-ups or salespeople."

"Do your own due diligence upfront and don't rely on the NL provider to tell you everything. Filling out the calculator and going through the detail view and screen tips will go a long way."

"The calculator has been vetted by the community and in use for ages and is very solid, so is probably worth trusting it for interest rates instead of the provider's quote."

"Really helpful to reverse-engineer the effective interest rate in the quotes a handful of us employees were getting. We were all getting >10.5%, so a lot of us were able to get our provider to "price beat" other quotes and offer rates in the low to mid 8s."

"I made the jump to 2 new EVs and sold our 2 ICE vehicles. Nothing wrong with the old vehicles but your calculator helped to convince me the current EV FBT exemption was the deal of the decade."

"There's a good calculator here to get an idea of what your situation might look like. A really handy comparison is the one that has "compare with keeping existing car". You can use this to simulate buying an ICE car without a lease."

"I've been pointing my friends and family towards your calculator and it's saved them a bunch."

"This tool is epic! Well done 👏"

"Have a look here and you can work out the total cost of ownership across both buying outright vs novated lease at the end of your lease period."

"My starting interest rate quote was about 20% but I managed to get it down to 8% (as per calculator) before signing, which has been a huge saving. Definitely recommend looking into the calculator."

"Just wanted to thank you for writing the novated lease guide. It's excellent."

"I tried this online NL calc from some sort of math magician on Reddit."

"Literally all you need is this website. Not just the calculator (and the calculator is amazing) but the articles that cover risks and fundamentals of novated leases."

"Anyone considering a novated lease should 100% use this tool. Extremely helpful."

"Thanks for all your work... I hate to think of all the people who have gone into novated leases that haven't been aware of your calculator."

"Obligatory: use this calculator to really work out the true cost of your novated lease."

"Thanks for creating this, very helpful and clear."

"Wow, these are all scenarios in my head and to know there is a tool that can do it all-in-one is great to know!"

"A huge gratitude for building the NL Calculator and making it open for all. Great work."

"Your spreadsheet is amazing! Really helped me to understand the costs of a novated lease and, importantly, to communicate them to my husband."

"Your spreadsheet is amazing. Provides a clear explanation rather than "tax savings" which seems to be the advertising enticement for a lot of NL companies."

"I found your resources incredibly helpful and easy to follow. Appreciate your amazing work!"

"Thanks for the really clear explanation. It's hard to find this information in simple English to explain to others."

"You've saved me a whole lot of worry during the lease process."

"Very helpful. It should be a requirement of the novated lease companies, but in the meantime it is really valuable."

"It's been reassuring to compare my own spreadsheet with your unbiased calculator."

"Very helpful for my partner and I in recently considering (and ultimately deciding against) novated leasing an EV."

"Just when my cynicism was reaching an all-time high. Thank you."

"Extremely well documented calculator. The true insight into novated leases and their illusive and sometimes misleading "tax savings"."

"This was doing my head in. Your calculator is better than any provider."

"Useful to convince my husband regarding benefits of leasing an EV vs paying cash. Especially good when comparing several quotes from lease providers."

"Saved me $300 a month in my negotiations with lease provider, you are a genuine hero."

"Even though I'm a finance / spreadsheet guy, I still found this website and the info very instructive."

"Excellent info and calculator that helped me negotiate and save money on a new EV lease."

"You helped us and we've shared the calculator endlessly."

"A fantastic tool that greatly assisted in both evaluating impact and negotiating the lease."

"I would not have understood the pros/cons of a novated lease without the aid of this website."

"It has helped immensely, and has definitely saved me thousands."

"Cut through the marketing noise and much better than trying to discuss with salesmen."

"I'm a CPA and last novated lease cycle did my own calculations but this one is better than anything I've done!"

"A complex situation well explained and made me less vulnerable to companies with agendas. My decision is now much easier."

"Really helpful to demystify quotes from our sole-source novated lease provider, and help me get a better deal."

"Thanks so much for shining some much-needed light into this grey unregulated area!"

"I make it a rule to not give money to strangers on the internet but this is some of the best work I've seen on the internet..."