novated leases anyone?

G'day
Off topic here but best place for me to ask. Had a bit of an info session on novated leases, a new provision under my employment conditions. I really didn't think I would be interested in (read afford) a newish car in my current situation. On paper this looks very attractive. In fact a cursery look tells me it will cost no more than my current oldish (ok old) car to own. Any for or against experience out there?
cheers
Rod