How best to decide what’s right for you with Smart.
As your novated lease approaches its end, you might be wondering what happens next. The good news? The process is straightforward and designed with your convenience in mind. You have several flexible options, allowing you to choose the path that best fits your life right now.
Think of this moment not as an ending, but as an opportunity. It’s a chance to reassess your driving needs and decide what’s next for you and your car. Whether you’re ready for an upgrade, happy with your current vehicle, or want to own it outright, we’re here to make the transition seamless. Let’s walk through your choices together.
When your lease term concludes, you're in the driver's seat. You have three main options, each with its own benefits.
This is a popular choice for a good reason. Upgrading allows you to get behind the wheel of a new car, complete with the latest technology, enhanced safety features, and that unbeatable new-car feeling.
If your lifestyle has changed, maybe you need a bigger car for a growing family or you’re interested in making the switch to an electric vehicle (EV), starting a new lease could be the perfect solution.
Here’s why an upgrade is so appealing:
We also make selling your current car easy with our Smart Sell™ service. We handle the process, saving you the time and stress of a private sale. The proceeds can then be used to pay out the residual on your current lease, and you might even have some cash left over.
Do you still love your car? If it’s been a reliable companion and you’re not ready to say goodbye, you don’t have to. You can choose to refinance the vehicle and start a new lease term.
Refinancing is a simple way to keep the car you know and trust while continuing to benefit from the convenience of a novated lease. All your running costs remain bundled into a single deduction each payday, making budgeting just as easy as before.
A key advantage here is that your payments may even be lower, because you've already paid off a portion of the car's value during your initial lease, the amount being financed is smaller, which can lead to reduced payments.
If a novated lease no longer suits your needs or you simply want full ownership, this option is for you. At the end of the lease, you can purchase the vehicle by paying the final residual amount. This lump-sum payment is the pre-agreed value of the car at the end of the lease term.
Once you’ve made the payment, the car is all yours. There are no more lease payments, and you are free to keep it, sell it, or trade it in as you see fit.
Navigating your end-of-lease options should be exciting, not stressful. Whether you’re dreaming of a new model, content with your current ride, or ready for full ownership, the choice is entirely yours.
Our team is here to provide guidance and support, ensuring you have all the information you need to make the best decision for your circumstances.
Contact a leasing expert to discuss your end of lease options today.
