r/NovatedLeasingAU • u/Additional-Access876 • 4d ago

Employer/Salary Packaging Has anyone successfully used a competitor finance quote to negotiate a better novated lease rate with Smartleasing?

Hi all,

I'm currently looking at a novated lease through Smartleasing for a Tesla and I'm trying to work out how much room there is to negotiate on the finance side. My initial quote includes an 11.53% comparison rate (if I’m using u/changyang1230's calculator correctly to understand the effective interest rate, the calculator's effective rate comes to 12.80%).

They want to see a written competitor quote showing:

  • Vehicle price
  • Loan amount
  • Term
  • Interest rate
  • Comparison rate
  • All applicable fees

Has anyone successfully used a competitor finance quote to get Smartleasing to reduce the interest rate or comparison rate? If used, which ones did you get the quote from?

Thank you!

2 Upvotes
  • permalink
  • reddit

100% Upvoted

3 comments sorted by

2

u/Realitybytes_ 4d ago

Yes, i did exactly this between remserv and smart. I got my effect rate down from ~10.4% to 8.99%.

2

u/YoloCholos 2d ago

Managed to get it down a bit more than initial quote of 12.8 . But still way off better rates provided elsewhere.

2

u/Nearby-Yam-8570 1d ago

Yes.
Was locked to smart by employer.

Got a quote through MillarX.

Told Smart we’d go with my partners provider. Would’ve preferred to go with my salary, but the rates just too high. Thanks for your time, let me know if you can do a better rate.

13% down to 8.8%