ORIX New Zealand

Products & Services

Novated Leasing is Finally Here!

How does it work?

How Does It Work?

The ORIX Novated Lease options allows you to choose the vehicle you wish to drive, pay for it through pre-tax salary deductions, and make an offer to purchase the vehicle at the end of the lease.

  • You choose the car you want and enter into a Novated Lease with ORIX.
  • You, your employer and ORIX then enter into a Full Novation Agreement.
  • The lease is transferred to your employers name who then makes the lease payments to ORIX. These payments are made via a salary deduction, from your pre-tax salary.
novated lifecycle
What are the employee benefits?

What are the employee benefits?

Choose the vehicle you want

Select a vehicle that suits you and keep it if you change jobs. The vehicle can be new, used (no more than 10 years old at the end of the lease) or a luxury vehicle. We can even purchase your current vehicle and lease it back to you.

Maximise your net income

Gain tax advantages such as reduced taxable income and potentially a higher net income by allowing lease rentals and vehicle costs to be deducted from your gross salary, before PAYE tax is charged on the balance.

Discounted rates on vehicles and running costs

Obtain fleet discounts on vehicle purchase and running costs. You are able to save on GST that would normally be incurred on vehicle expenses provided your employer can claim input tax credits.

What are the employer benefits?

What are the employer benefits?

Retention of valuable employees and reduction in costs

Increase employee satisfaction and become an employer of choice by offering salary packaged vehicles that reduces PAYE tax and ACC levies which are calculated on an employee's gross wages.

No vehicle liability

If an employee leaves your organisation, your obligation to make lease payments stops and you are not left with a redundant vehicle. The residual value of the vehicle also remains the responsibility of the employee.

No administration burden

Our customer service and account management teams deal directly with your employees delivering salary packaging assistance, Novated Lease education, employee communications, vehicle reporting and any other information necessary to maximise the benefits of their Novated Lease vehicle.

Access to our online Customer Centre and Reporting

Advanced 24-hour online capabilities allows you to view or schedule (for regular e-mail delivery) reports relating actual to budget, carbon emissions and carbon footprint for all ORIX leased and managed vehicles. Our driver reporting assists you and your employees to monitor and manage vehicle running costs and FBT associated with a Novated Lease more effectively

How much will I save?

How much will I save?

Typical savings achieved are in a range of $3,000 to $5,500pa, after tax.



What vehicle choice do I have?

Generally ORIX does not impose any restrictions. However, some employers have policies that specify certain types of company vehicles.

Can I lease a second-hand vehicle?

ORIX will consider providing Novated Leases for second hand vehicles from reputable dealers. However, at the end of the lease the vehicle should be no older that ten years (conditions apply). (Your employer's company vehicle policy must also permit second-hand vehicles.)

What Residual Value will apply?

ORIX sets residual values for Novated Finance leases at the estimated market value at the end of the lease period.

How does Fringe Benefits Tax affect my lease?

During the lease term, your employer is responsible for the calculation and payment of Fringe Benefit Tax (FBT). ORIX will provide your employer with an estimate of the FBT applicable to your lease based upon your salary band. Your employer will then pass this FBT liability on to you by incorporating it into your regular deduction.

Who is responsible for the payment of insurance renewals?

If you choose ORIX's comprehensive insurance, the policy is automatically renewed. If you choose your own insurer you will be responsible for ensuring insurance cover is renewed and that evidence of renewal is provided to ORIX.

Who is responsible for the payment of registration renewals?

With a Fully Maintained option, ORIX will be responsible for the payment of registration renewals as they fall due.

If I change employment, can I novate the lease to the new employer?

Yes, provided your new employer has an ORIX Novated Lease facility and agrees to the Novation Agreement. You also have the option of:

  1. Taking over the lease obligations from your after-tax income. However all our services including fuelcard and vehicle running costs will cease.
  2. Paying the lease payout figure we provide, or refinancing it with a loan.

What happens when my lease term expires?

Before the end of the lease, ORIX will contact you to find out what you want to do about the vehicle and, without commitment, any offer you make at that time to re-lease or purchase the vehicle will be considered. ORIX will calculate the difference between actual and budgeted costs (normally including repairs and maintenance, tyres, fuel, insurance). Any deficit or surplus willl be invoiced or refunded to your employer, who will then make a one-off deduction or allowance to your salary.

What is my first step?

Contact the ORIX Fleet Services Team on 0800 6749 37 (0800 ORIX FS) or use our online form.

Contact Us

Call us on 0800 6749 37 (0800 ORIX FS) or use our online form.

Call our Novated Leasing team today on 0800 6749 37