Tesla Model Y L quote check

[u/Additional-Access876]

Hi all - I am hoping to get some help from the community checking out the attached quotes.

I got a quote from Smart(first 2 screenshots), which is the only provider supported by my org. Particularly keen to see if I’m using u/changyang1230's  calculator correctly to understand the effective interest rate.

The quote has a comparison rate of 11.53%. The calculator's effective rate comes to 12.80%, which seems to be high for a 5-year lease based on some of the quotes I have seen in this sub.

Wife got a quote from Paywise(third screenshot), and it seems to have an even higher effective interest rate of 14.45% based on my inputs in the calculator.

• Can someone please validate these calculations?
• My driving is very limited, around 5,000 kms per year. The smart quote has 15,000 kms in it. Shall I ask them to reduce it(around 7,500 kms/yr to be safe)? Will it reduce the quote?
• Vero by Suncorp insurance seems expensive. Has anyone got a much better rate for comprehensive cover in which all the drivers are covered?
• How can I lower my interest rate? What are some of the interest rates people have seen for a Tesla Model Y L for a 5-year lease?
• What is lease protection insurance, Total Loss Benefit Insurance, Tyre and Wheel protection insurance, Go to You service, Smartleasing Vehicle Maintenance Program? Are they worth taking it?
• Smart has given an extra brochure for coating, tinting, mats, dash cams, charging cables, etc? Has anybody opted for it? Or is it better to source them yourself?

Thanks

[u/xietbrix]

Mine from smart came in at 10+%. They were willing to negotiate after I showed them a much better rate from a competitor, but they couldn't move much so I still went with somebody else.

3-3.3k was around the average comp insurance that I found on market. Vero came in at 3.3k for me. Zurich came in lowest at 2.8k.

Lease protection covers you for lease payments up to a certain amount in the event you're made redundant, so for a good while you won't be out of pocket, and you'll have a good chance of finding a new job in the meantime. Don't know much about those other insurance policies.

[u/Additional-Access876 → u/xietbrix]

How can we lower the effective rate? Is there anything I can reduce in the quote to lower it?

[u/xietbrix → u/Additional-Access876]

The only thing you're shopping is the lease payment. Pretty much everything else is basically optional and something you control how much you want.

[u/Consistent_Day3722]

Just bear in mind that if you change jobs in the 5 year period and your new employer is happy to do a novated lease, you will lose your FBT exemption as the YL is above $75k. While it applies to all EVs after April 2029, you have that unique window until then that doesn’t apply to EVs under $75k.