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novated lease

/ (nəʊˈveɪtɪd) /
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noun
Australian a system for purchasing a car in which an employer makes lease payments on behalf of an employee who eventually owns the car
QUIZ
THINGAMABOB OR THINGUMMY: CAN YOU DISTINGUISH BETWEEN THE US AND UK TERMS IN THIS QUIZ?
Do you know the difference between everyday US and UK terminology? Test yourself with this quiz on words that differ across the Atlantic.
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In the UK, COTTON CANDY is more commonly known as…
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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