If an employee changes jobs during a novated lease term, the novation arrangement needs to be re-novated to accommodate the change in employment. Here’s what typically happens in such cases:Transfer of the Novated Lease: The existing novated lease can be transferred to the new employer if they are willing to participate in the novation agreement. This would involve updating the novated lease contract to reflect the new employer’s details and ensuring their cooperation in continuing the lease agreement.Negotiating a New Novation Agreement: If the new employer does not participate in novated leasing or the employee prefers not to transfer the lease, they may need to negotiate a new novation agreement with their new employer or explore alternative financing options.Refinance into a Lease: If transferring the novated lease to the new employer or negotiating a new novation agreement is not feasible, the employee may want to consider refinancing the novated lease into a standard vehicle lease. This involves converting the novated lease into a regular lease, where the employee takes on the responsibility of the lease payments using their post-tax income.