NOVATED LEASE TRANSPARENCY STANDARDREAD THE STANDARD · NLTS/1.0 →
A STANDARD FOR SHOWING COST · NOT SAVINGS

The true cost of a lease. In five figures.

Ex GST throughout
Finance charges only
No fees, no running costs

The industry has no standard for showing the real cost of a novated lease — so we created one. The tax savings are real, but they come from government policy, not from us; transparency is what we control. Every quote shows the true cost of the lease, not just the savings, so you commit fully informed — the standard we hold above all else.

NLTS
1Finance payments
$ X,XXX /mth × N
2Balloon
$ XX,XXX
3Total cost
$ XX,XXX
4Total amount financed
$ XX,XXX
5Total term charges
$ X,XXX
ALL FIGURES EX GST · EXCLUDES MANAGEMENT FEES & RUNNING COSTS
THE FIVE FIGURES
1
Finance payments
The monthly finance payment, multiplied by the number of payments over the term. Normalised to months whatever the pay cycle.
2
Balloon
The end-of-term residual, ex GST. The amount owed when the lease finishes.
3
Total cost
Finance payments plus balloon. Everything the financier is paid over the life of the lease.
4
Total amount financed
The amount actually lent to fund the vehicle, ex GST.
5
Total term charges
Total cost minus amount financed. The true cost of the finance — the number the industry doesn't show.
VERIFIABLE BY SUBTRACTION

The rate has nowhere to hide.

TOTAL COST
$ XX,XXX
−
AMOUNT FINANCED
$ XX,XXX
=
TOTAL TERM CHARGES
$ X,XXX

There is no separate “base” or “comparison” rate behind the number. Term charges are a plain subtraction anyone can check with the two figures above — printed on the same page of every quote.

WHY QUOTES STOP BEING COMPARABLE

A typical quote. An NLTS quote.

TYPICAL QUOTE
—Leads with the savings figure — a product of government policy every provider gets equally
—Finance charges bundled with running costs and fees into one headline number
—GST treatment varies line to line, or isn’t stated
—The cost of the finance itself is never isolated
RESULT: NOT COMPARABLE WITH ANY OTHER QUOTE
NLTS QUOTE
·Five fixed figures, in a fixed format, on every quote
·Ex GST throughout — one treatment, stated once
·Finance only — management fees and running costs excluded by definition
·Term charges shown as a subtraction the reader can verify
RESULT: LIKE-FOR-LIKE AGAINST ANY NLTS QUOTE
THE EVIDENCE · WHITEPAPER

The market study behind the standard.

Every design decision in NLTS/1.0 answers a documented failure. We analysed 1,753 novated lease quotes from 53 Australian providers, recomputing each quote’s effective rate from its own figures and comparing it with the rate the quote claimed. Rationale, methodology and the full anonymised dataset.

DOWNLOAD THE PAPER (PDF) ↓
1,753
quotes analysed, across 53 providers
68.2%
disclosed no interest rate at all
92.5%
of disclosed rates were understated
1.9%
of all quotes carried an accurate rate
FREE · NO SIGN-UP · PROVIDER IDENTITIES WITHHELD
AN OPEN, UNILATERAL STANDARD
Any provider may adopt it. No permission required.

The full specification — definitions, scope rules, presentation requirements and conformance — is published as NLTS/1.0.

READ NLTS/1.0 →SIGN IN SUPPORT →
millarX · NOVATED LEASE TRANSPARENCY STANDARDAPPLIED TO EVERY MILLARX-BRANDED QUOTE, INCLUDING BYO