Is a $86,000 Prado Worth Novated Leasing? (Real Quote Breakdown)

In this video, I walk through a real novated lease quote on a 2026 Toyota LandCruiser Prado GXL (7 seat) for someone earning $145,000 a year - and break down every number you actually need to understand before signing anything. The headline saving looks great. But there are three things buried in this quote that most people completely miss. What we cover: How the $5,147 annual saving is calculated (and why it's real, but conditional) The interest rate sitting at 10.22% - and why it matters more than most people realise The residual value at end of term and what you actually owe Why a significant portion of your lease payments are post-tax (not pre-tax) on a petrol or diesel vehicle Whether a novated lease is actually worth it on a car like the Prado Want to run the numbers on your own novated lease quote? 👉 Novated Lease Transparency Calculator: https://payhip.com/b/GSkF3 TIMESTAMPS 00:00 Prado Lease Savings Hype 00:47 Quote Breakdown Costs 02:11 Where Savings Come From 03:23 Hidden Traps Rate Residual FBT 07:12 Is It Worth It Mitch James is not a financial advisor. This video is general information only and does not constitute personal financial advice. Always consider your own circumstances and speak with a licensed professional before making financial decisions. Tags: novated lease australia, landcruiser prado novated lease, novated lease explained, novated lease 2026, salary packaging car australia, novated lease tax saving, toyota prado finance, novated lease pros and cons, novated lease interest rate, FBT novated lease, novated lease residual, car finance australia, salary sacrifice car