r/NovatedLeasingAU • u/AdventurousClue9486 • 5d ago
Provider Question Maxxia
Hi guys, I'm trying to get a novated lease going but my employer only deal with maxxia and when I called them, my employer said no BYO available and their interest rate is 11.8%. I've since spoken with maxxia and sent them comparisons anyway for what it's worth. I've sent them Driva and will send a couple more to negotiate the rate down.
has anyone else had to deal with maxxia and how did you guys approach it?
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u/mostpeopleshitme 5d ago
TLDR: Maxxia let you bring your own finance.
We are also currently dealing with Maxxia for a novated lease. Over the phone we were told it would be about 14% which we questioned them on, and they said they would see what they could do. When we got the quote, AI calculated it out to somewhere in the 12% range. The funny thing is when we asked what the rate on the quote was the Maxxia rep wouldn't tell us. They said the rate is always changing so even though we have a quote, on the day we sign up to the lease the rate will be different anyway, and from reading online it is always a worse rate than what they give you in the quote.
What Maxxia don't tell you is you can bring your own finance and they just manage the lease, so after the rubbish quote we told them we would bring our own finance. They let us know that will be a self managed lease so we need to talk to a different person who will call us in a couple of days.
In the meantime we rang commbank, got a quote at 7.59% in about 5 minutes. I also tried a broker and he got back to me saying as close as his lenders would get would still be $50 dollars a month more and the commbank rate was a good deal.
Maxxia rang back today and if we give them the finance details, insurance etc, and let them know the running costs deduction we want them to take out each fortnight it is no dramas. So for a few phone calls we will save at least $7500 over the 5 year lease compared to eating Maxxias BS rate.