What happens at the end of a novated lease Orix?
What happens at the end of my lease? Approximately three months before the end of your lease, ORIX will send you a reminder. We will work with you to choose what to do next. You may be able to extend the term of your lease, offer to purchase the vehicle from ORIX, or finance a new vehicle.
What are the disadvantages of novated lease?
Cons
- You don't own the car. Under a novated lease, you don't technically own the vehicle. ...
- Residual value due at end of lease. ...
- You might liable for the car if you lose or change your job. ...
- Administration fees and higher interest rates.
Is Orix a bank?
ORIX Bank Corporation provides commercial banking services. The Company offers banking and financial services including deposits, loans, real estate trusts, life insurance, and liquidation of financial assets.