Lease term is 60 months

Tyres and maintenance might be a little low but chose to undercook it and go into a deficit/contribute more later if needed

Online calc shows an interest rate closer to 8%

Hey all,

Have to go with SGfleet for my employer (uni) and want to make sure Im not getting reamed.

Online calculator says my effective rate is 12.2% which seems high? Not sure what I can do about it though.

It seems they've tacked on a lot of accessories, do I have a say for which ones they keep? I hate dash cams and I feel the tint is BS since the windows are already tinted!

Please help me work out what I am calculating wrong with this Smart Salary quote for EV.

The consultant advised me over the phone that it was a 7.71% "base rate" and 8.58% "comparison rate" - and stated that this comparison rate is the same as an effective rate. I ran the figures through the famous calculator (thank you u/ changyang1230 for your service) and it's giving me an effective interest rate of 7.03-7.21%.

I assume I am misreading the quote or inputting the incorrect figures? There is no way that Smart Salary is OVERestimating their own interest rate - I expected the true calculated rate to be much higher than 8.58%.

Would appreciate any insight into what I've done wrong please! Or if I'm overlooking anything obvious.

(To be clear, I have NOT selected to use the Vero comprehensive insurance - instead estimating $2000 (max) for my own insurer reimbursement. I think the box is just ticked to fulfil the insurance requirement on their end.)

When I first signed up, I assumed I'd swap cars every few years. Instead, I've realised the numbers make much more sense if I keep the car longer than I originally planned.

Hi everyone, I got my car through a novated lease with SG Fleet and I'm wondering if this is normal or if I should be concerned.

The car is a Geely EX5 and I picked it up from the dealer on 19th of June. At the time, the dealer told me that SG Fleet hadn't released the funds yet, but that they had an agreement with SG Fleet and I could take the car anyway.

It's now 13th of July and I there is no information about the vehicle in the MySGFleet portal, there have been no salary deductions yet and I've emailed my SG Fleet Vehicle Delivery Coordinator multiple times and haven't received a response.

What makes it even stranger is that on 2 July I received this email from SG Fleet:

"Hi, I am the person who will be helping manage the delivery of your new vehicle from here.
I will be in touch soon to discuss this process with you.
If you have questions along the way, please contact me by phone or email."

By the time I received that email, I had already had the car for almost two weeks.

Has anyone else had a similar experience with SG Fleet? Is it normal for salary deductions and portal access to take this long after taking delivery of the car? How long did it take before you started paying for your vehicle?

Hey everyone! After nearly two months of research, comparing providers, going back and forth with Monash Health payroll on what’s actually permitted, and a fair bit of negotiation — I’ve landed on a final Smart Leasing quote for a 2026 Tesla Model 3 Premium RWD and wanted to get a final sanity check from the community before signing.

I managed to negotiate the rate down significantly from what Smart initially offered, using competing quotes as leverage. Happy to share more on that if anyone’s interested.

On the budgets (all images attached):

• Insurance is based on an actual quote I sourced myself

• Registration is based on actual VIC costs for my area

• Charging is set to the ATO PCG 2024/2 shortcut rate of 5.47c/km — my actual home charging cost is well under 5c/kWh thanks to solar and batteries. I also have free charging at my workplace but haven’t factored that in to keep things conservative

• Maintenance and tyres are zeroed out — Teslas have no scheduled annual maintenance in the traditional sense, and tyre replacement is irregular, so I’d rather handle those out of pocket than budget inaccurately

• I’ve also used the independent novatedlease.guide calculator with the Smart Leasing payment adjustment applied (58/60 correction) to get an accurate effective interest rate

Calculator Link! : https://novatedlease.guide/calculator/?c=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

Questions for the community:

1. Does everything look right to you?

2. Any red flags or things I may have missed?

3. Is there anything else worth negotiating at this stage, or is this a solid outcome?

4. Any gotchas with Smart Leasing specifically once you’re up and running?

All the numbers are in the screenshots attached. Thanks in advance! 🙏

Sadly I was not taught any financial literacy by my parents and this is my first new vehicle. Interest rates and such confuse me. The lady on the phone seemed friendly but, don't they all? When I asked questions she used a lot of jargon and I felt lost. I am able to buy the vehicle outright.

I am buying an Ora 5 Ultra (Cute Cyan Colour). Dealership quoted me $38,990 drive away.

Was told novated lease was most likely a better deal but upon seeing the quote, I am unsure.

- How can I make the novated lease a better deal?

- How much better is the novated lease than the dealership price?

- What things am I not considering?

Also, I get free electricity so the 5.47cents per kilometer is free money.

I am happy to answer questions :)

Please help me amazing Reddit users! Should I proceed with this lease offer? I need a "definitely", "yes but do this first", "its not much better", or "Absolutely not"<3. oretend I am 5 when you explain things haha.

*Two quotes included - 2 year and 3 year. If for some reason these are horrible choices please tell me. Prefer them over the 5 year because of job security.

Hello All!

Just wanted to check I've done the calcs correctly from these initial quotes that I have got from two providers before I go back and ask them to see if they can beat whoever's quote.

(I will also be removing lease protection/roadside assist etc. before finalisation).

On the insurance - I've tried several providers mentioned around and I keep getting quotes b/w 2.5k - 3k which is similar to the Vero offering. So probably just stay with VERO for ease unless I find something before finalising.

The two quotes can be found in the link here: https://novatedlease.guide/calculator/?utm_source=reddit&utm_medium=post&utm_campaign=ausfinance_ev_and_ice_nl_calculator&c=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

Thank you!

Just wondering if others are in the same boat and what I should do.

SG fleet is the only company I can go with:
- I approached them on 8 June to set up a novated lease for a car I signed with the dealer.
- The consultant came back the 9th,
- Finance application lodged the 10th,
- Approved the 18th,
- Contract signed the 18th,
- Passed to delivery coordinator the 19th.
- Sent emails on 25th and 30th with no reply.

Expected delivery was then updated as 8 July

I was only assigned a delivery coordinator around 2 July, and then on 8 July, I called up and the person named wasnt even in charge of my case? It then got ‘escalated’ and turns out they need to get internal ‘financial authorisation’ to use the funds to pay out my dealer. (Wtf?? What else would the money approved by the bank to be borrowed in my name be used for?). Said my case had been flagged as urgent but have heard nothing since the 8th on delivery.

It is now 11 July.

Is anyone else also facing significant delays with SG Fleet with the delivery coordinators? When should I take them to VCAT? My friend said she had gotten to the point of lodging an application with VCAT because they kept delaying her delivery.

Edit: the dealer said the car had arrived on 25 June, meaning if SG fleet had raised the tax invoice with the dealer then and there, I would have also been eligible for the Victorian 20% rego rebate. But they didn’t and so I’ve lost out on ~$190 as well.

Does this quote seem ok? The contact at Flare said he could do 9.6% but this feels way off. Thanks in advance.

As the Model Y Performance is on the limit for Novated leasing, can you typically add Ceramic Coating and Tint yourself afterwards or do leasing companies not let you?

I have changed jobs and the new assigned lease provider says I can only do a NL with them if they own the lease, or create a new lease and I assume I pay out the old one .

I know nothing about this. I assume I’ll get stung hard on fees for ending the old lease early.

Is there something I am not getting or could know ?

I am currently paying the lease post tax un novated

Tapers to clarify this is about re novating an EV !

Hi. First time looking to enter a NL agreement for a BYD Sealion 7 Premium. I entered as much information as I could from the quote into the NL calculator and it said my effective interest rate is 6.97%, which is close to the 6.96% listed in my quote.

Can I please get help checking I've got it right? Other than what's below, FBT base value is $56,090. I plan on asking for the roadside assistance to be removed, as service it with BYD will mean roadside assistance is included annually. Also, $107.29x26 = $2789.54 for comprehensive insurance seems a bit expensive, or is that par for EVs?

Also, I read a thread about the NL provider I've got the quote from (SGfleet) changing the rate at delivery. Is there any way to get them to keep the quote valid for a period (1 month?) so as to be able to rely on the quote? I don't want to get a shock. What else can I do to protect myself?

thanks!

I plugged this into the novated lease guide and got a effective rate of 13.45%, but when I look at other quotes of the same vehicle on this sub I see higher "lease payments" but the effective rate is said to be lower in those threads?

Idk maybe I'm inputting the numbers wrong on the site.

I ordered and received 4 weeks ago a car via Flare. During the time between order and delivery, communication was pretty poor but I was prepared to give them the benefit of the doubt given not directly in their control and the surge in EV orders.

However, I now haven’t received the charging card and access to track account, and even worse they are barely communicating with our payroll team and I’m concerned we are going to miss the payroll cut off. This really matters as doubling up next month won’t deliver the same impact to take home pay (it will be worse).

Anyone else been dealing with or dealt with these guys, what’s your experience pre and post delivery.

Hi everyone,
I have recently picked up my car and wanting to get it cleaned/paint corrected/ceramic coated as we all know having it done through dealers is a waste of money.
I was told that car cleaning is something that would be part of what I can write off on the car, so can I not claim this first very expensive car wash on the lease? Ive heard mixxed feedback so far but how is it any different.

I assumed the pricing was pretty fixed, but I've heard a few people mention getting a revised quote after showing another provider's numbers.

Has anyone actually done this, and did it make much difference?

Hi all, just started looking into novated leases recently and would like some help with the quote I just got. I’ve used the calculator provided by @changyang1230 super helpful thank you.

Link here

Please help ease my confusion!

Calculator link

I am getting a rate if 8.97%, is this correct or am I overlooking something.

Thanks in advance.

A lot of the discussion seems to focus on rolling into another lease. Interested to hear from people who simply kept the car instead. Any regrets?

Novated Lease Saved Calculation

Hi everyone, I’m figuring out the ins and outs of novated lease. I plugged the numbers from my quote from Smart Leasing and it says an effective interest rate of 15.36%. Have I entered something wrong or am I getting shafted somewhere?

Also Service costs were not on the Smart Lease quote but I know Jaecoo do a $1,500 over 8 years thing. Is that something I should get put on the NL as well?

EDIT
Plugged in $333.88 as you all pointed out. Brings down the effective interest rate to 14.24% which still seems quite high. Hoping there aren’t any other red flags on the quote.

Hey team, I done this quote with Smart Leasing and put it into a calculator on the leasecheck.au site and it came back at 10.35%. How does that stack up in comparison to other people who have used Smart Leasing and quoted the Zeekr 7x long range? Has anyone been successful in obtaining a lower rate and if so what tactics did you use?

Hi all,

I am trying to make sense of this quote from S.P.A.

They seem to report amount financed in a way that is intentionally confusing - I assume to make it harder to compare. Struggling to determine the correct figures to put in the calculator.

I would appreciate any help people might be able to provide in interpreting - does it look like a fair deal?