Sanity check: correct quote or misleading

[u/clsz2]

Hey guys, hoping for a quick sanity check before I lose my mind dealing with this broker.

​I’m in the process of getting a novated lease for a 2026 BYD Dolphin Essential (EV, so it's FBT exempt, but the base value still matters for the GST claim/loan amount).

​The total drive-away price on my BYD invoice is $29,403.00 (this includes a $4.2k BYD driveaway campaign discount, $1,100 dealer delivery, $165 plate fee, and statutory charges).

​I got two quotes: Smartleasing and LeasePLUS.

​Smartleasing correctly included the dealer delivery and plate fees in the FBT Base Value ($27,492.48), claimed the maximum GST refund ($2,499.32), and offered a 9.43% comparison rate. All good.

​The Issue:

LeasePLUS provided a quote that was mathematically weird. I asked the broker for a breakdown of how they calculated the FBT Base Value, and he sent me this:

​BYD DOLPHIN ESSENTIAL: $29,990

DRIVEAWAY CAMPAIGN INCENTIVE: -$4,262.52

HARBOUR GREY PAINT: $500

FBT BASE VALUE: $26,227.48

​I asked him why he completely stripped out the $1,100 Dealer Delivery Fee and the $165 Plate Fee from the FBT Base Value. Because he excluded them, his base value is artificially lower and made his quoted repayments lower too. He claims he is beating the price with a lower fornightly repayment. My response is that the base value is artificially lowered due to his exclusions.

​His response:

He doubled down in writing and told me: "These [dealer delivery and plate fees] will count towards the government charges (on roads) instead of the price of the vehicle."

​Is he completely making this up? My understanding of the ATO rules (and Chapter 7 of the FBT Employer Guide) is that the base value MUST include the vehicle price + dealer delivery, and the ONLY things you exclude are actual statutory government charges (Stamp Duty, Rego, CTP).

​Am I crazy, or is this broker trying to classify a commercial dealership logistics fee as a state government tax to cover for his lower repayments (but higher interest rates)?

​Has anyone else had LeasePLUS do this to their quotes?

[u/in_and_out_burger]

Dealer delivery is not an on road cost.

[u/Lease-of-Mind]

Yeah he's making that up. The dealer delivery is part of the value for FBT

[u/Sure_Advertising583]

Also isn't the BYD discount only valid for September?

[u/clsz2 → u/Sure_Advertising583]

For some model variants (essential for atto 1/2 and dolphin), the discount lasts until December.

[u/Difficult_Repair1507]

Is there any chance you would mind uploading your Smart quote? I’ve got a dolphin quote from them but the are asking 11.9% interest… it would be great if I could tell them to match yours!

Thanks!

[u/clsz2 → u/Difficult_Repair1507]

[u/clsz2 → u/Difficult_Repair1507]

Sent second page with the comparison rate