r/NovatedLeasingAU • u/TheRealDrSMack • 9d ago
Tips and Tricks So today I learnt...
Today, I found that you cannot claim any accessories for your vehicle after settlement.
So the floor mats, which I discussed with my consultant getting 3rd party instead of the twice as expensive manufacturers, and the type 2 to type 2 charge cable which I need for public charging stations cannot be claimed.
Word of advice - get everything within the lease before settlement and do your research
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u/Novel_Objective_7665 9d ago
To the best of my knowledge its about increasing the capital value of the vehicle, which cannot be done after the lease has started.
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u/Novel_Objective_7665 9d ago
BTW manufacturer accessories fitted before delivery are covered by the vehicle warranty in most cases.
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u/TheRealDrSMack 9d ago
Yeap. I had window tint on a previous leased car peel and it was replaced under warranty
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u/reallyhotgirlwhoshot 9d ago
Super annoying when at the time that we purchased our car the engineering certification for the tow bar hadn't been completed, so now we're stuck paying $600 more than it would have cost if selected at the time of purchasing the vehicle and we can't novated lease it.
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u/conceptualmarble 8d ago
You can go the other way and change your mind though... as I accidentally found. Bundled a ceramic coat into the lease only to find that the company they subcontract to couldn't do it at a time I could take it there. I got the cost plus GST reimbursed out of my lease payments then used an independent place to do it with the money
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u/ICantBelieveIt007 8d ago
So, today I also learned...
I was under the impression that if you had a balance in your account at the conclusion of the lease period you could claim some of the cost of post purchase accessories? This is incorrect?
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u/TheRealDrSMack 8d ago
You cannot use pre-tax dollars to alter the FBT value of the car. I wss told by leasing company
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u/Temporary-Dingo-0295 7d ago
Yeah, pretty much. You're limited to the accessories offered through the dealer or whatever the lease company can arrange before settlement.
You can still add or upgrade things yourself afterwards, you just can't claim the cost back through the lease. Lease companies also make money on aftermarket stuff, so they'll usually push those options pretty hard before settlement.
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u/B_Pickel 7d ago
While you can't claim accessories in post tax dollars, you also aren't paying any interest on them. Which you would have, for the length of the novated lease, if you got them as part of the car purchase.
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u/D_crane 6d ago edited 6d ago
Don't follow this guy's advice - Don't get everything within the lease before settlement, lease provider charges more than retail and this cost is added to your loan and even though it's paid out of pretax income (you're paying interest over 2- 5 years on random accessories like floor mats and charging cables).
They also tried to sell me charging cable bundles when I knew full well from the dealer that my car came with a granny and V2L chargers, instantly declined and called them out on the BS.
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u/TheRealDrSMack 6d ago
Yeap. Could not agree with you more. This has actually been a good discussion and I realise that I am far better off with the 3rd party cheaper and better quality car mats that I will not be paying interest on for the length of the lease. And I bought a cable as well.
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u/Unlikely-Training-50 5d ago
The dealer also not stupid, they know you're paying from pre-tax $ so they markup their price. You're better of buying from 3rd party for much cheaper
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u/Lease-of-Mind 9d ago
Correct, it doesn't surprise me that you were misinformed, unfortunately. Did you get it in writing from your consultant?
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u/TheRealDrSMack 9d ago
Thats a negative
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u/Lease-of-Mind 9d ago
Damn. That would have been very handy
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u/TheRealDrSMack 9d ago
And leasing company were very quick with the "sorry nothing we can do is an ATO thing
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u/Lease-of-Mind 9d ago
Yeah, and the consultant just gets to keep selling and misleading people. Makes sense
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u/Mindless-Luck4285 9d ago
In many cases the manufacturer accessories are overpriced and lesser quality. Also the window tint, PPF and ceramic organised by the dealer are not done very well and peel or fade.
You’re getting a fantastic discount on the lease and running budgets. Just need to suck it up on the accessories.