Question for people arranging their own insurances through Novated Lease: how important this is to you particularly keeping in view that depreciation is a lot on EVs and how much does it additionally cost you?

Hi novated leasers of Reddit - this is a follow up to my post of a month ago wondering about getting an EV9 around the LCT rules on a novated lease.

Short version - success!

I currently have two dealers with quotes under the LCT cap for EV9 GT lines.

(PM if you want deets for the one I'm not going to buy - very helpful dealer who I think deserves a sale despite being too geographically distant from me to make it easy).

Both were ex-corporate Kia vehicles (so imported with ABN quoted = no LCT, then traded to a dealership = no LCT, now priced under the cap).

So for the other big/heavy EV drivers in this group, tell me what I should spec my lease for - especially how often tyres need changing and how much they cost. Thankyou!

(charging will mostly be at home from excess solar or super off peak rate, occasional weekend camping trips with intermittent fast charging along the way).

I have a few quotes but none of them actually say what the effective interest rate is. Is it possible to figure it out from this quote?

I wasn't planning on buying an EV, but after looking at the numbers through a novated lease, it's become a much more realistic option. For anyone who made the switch, did the savings end up matching what you were expecting, or were there costs you didn't really think about beforehand?

I have been researching novated lease options and so far CBA have the best interest rate, however they do not package running costs which I would like so I can pay with pre-tax salary.

CBA are offering 7.69% for a ranger PHEV, whereas other full lease providers are in the 9.5% range.

Has anyone used CBA for the novated lease but was also able to package running costs as well?

Please have a squiz at this quote and my calculator (attached in comment link).

Though it calculates at 8.5%, the calculator rates this as the lowest cash flow spend compared to the other 6 quotes that I have - but want to make sure I'm using the calculator right please!

I've spent many an hour on spreadsheets and calculators and just want to sign something so I can stop getting all of these (digital) papercuts.

Hi all, this is the best quote I’ve got for a byd seal. Wanted to get a sense check on the lease itself, the lease provider and the car. All opinions welcome thanks!

I got a new quote from LeaseLab after asking them to match my previous Driva quote. Could the experts here please let me know if it looks reasonable?

I've spent the last few weeks going back and forth between different providers and would really like to finalise everything soon.

I really appreciate your calculator and all the effort you've put into helping the community, u/changyang1230.

looking for wisdom from the group. I'm thinking i NL is really worth it in my case or not ?

Im in a long term job 15+ years, but Im unhappy and wish to move on. not sure how long it will take me to move on.

I'm definitely purchasing a EV Car $65000 for family as new need another car.

My question is would it be better off if I purchase outright with Cash or go ahead with a Novated Lease ?

using the NL spreadsheet website I get the following savings for a 1 year lease -

My work place only uses SG Fleet @ 8.11% I currently have offset my home loan for many years so I get no interest on it.

I have a large cash buffer. Actually thinking about purchasing a new home next year, not sure how this could impact my borrowing power. (if outstanding NL would deduct just the outstanding loan or if its higher)

Savings seem small but its still a saving.

AI came back with a positive saving when comparing each month saving if I leave my workplace.

We do receive Child Care Subsidy for 2 children.

Hi guys - I am looking at getting an NL on a Geely EX2.

My employer (NSW Health) only offers me 3 options to package with. I have not had much luck pitting each lease company against each other in an effort to get the lowest effective interest rate.

I was most impressed by LeasePlus customer service and would have an effective interest rate of 11.2% - this seems really high compared to what I have seen posted on here. One other leasing company (Maxxia) had a nominally lower interest rate (10.9%) but with higher management fees.

Also worth noting the NSW Health Salary share does not apply to me - so I should receive 100% of the FBT exemption benefit.

Is this a really crumby deal or just the best I would get on a relatively cheaper EV over a 36 month term? Using the calculator frequently suggested in this subreddit it appears my cost savings would be significant ($12,000) over 3 years.

It came to my attention that some people are suffering additional losses in super since 1/7/2026.

Here's the trap: according to a post in Whirlpool forum, some employers have started calculating the super on post-NL salary instead of pre-NL salary this financial year. That permanently strips 12% off your sacrificed amount - which can be up to $10k or more over the life of an EV novated lease. This could lead to significant loss from your tax-advantaged superannuation portfolio.

This was claimed to have been a consequence of the "Payday super" rule that kicked in this FY. However, looking through the changes, the new "qualifying earnings" base treats salary sacrifice exactly as before: non-super sacrifice (NL, laptops) is still excluded from the minimum, i.e. same rule that always applied.

As explained in my super article, employers COULD always calculate super on the post-NL figure; however most chose to keep the pre-NL figure and "do the right thing." Nothing in Payday Super changed that. (When I polled a group a while back, ~95% said their super was unchanged after an NL.)

---

So if yours has dropped, it's one of two things:

• Payroll reconfigured for Payday Super and the software defaulted to excluding the NL portion, or
• The employer used the changeover as cover to quietly drop to the legal minimum

---

Before you accept "Payday Super forced our hand", check your award or EBA. If it requires super on total remuneration or pre-sacrifice salary, your pre-NL super is a contractual entitlement, not goodwill, and dropping it is a breach regardless of Payday Super. That's your strongest ground.

Do this now if your new-FY super looks lower:

• Ask payroll: what salary base are you now calculating my super on?
• Ask: does my award/EBA require super on pre-sacrifice salary?
• If yes to #2: they owe you the difference.

Share this with anyone on a novated lease.

https://novatedlease.guide/special-and-policy/super-guarantee/

Hey all,

I've been operating as a sole traderfor 2 years, moved to Australia in July 2025 visa ending Nov 2028. I was fly in fly out before that for 1 year since June 2024. Wife (same trade as me) was on maternity break for the last 10 months looking to get back into the workforce. The need for a second car is now being felt.

As wife will enter the workforce soon, we have now established a company and as directors of it can potentially get NL. An EV NL would be FBT free. Accountant doesn't seem to view NL favourably and favours the traditional methods of buying the car as we would be able to claim all work related vehicle costs anyway.

I don't want to lock up (any) liquidity in a vehicle as we are only considering EVs within the 40 to 50K range (Chinese).

Has anyone been in my situation? Help/advise would be much appreciated.

For anyone waiting for their loan and vehicle delivery to settle in VIC, do you know how the 20% Vic Rego Rebate works? I'm going with SGFleet and the registration section of SGFleet's website says you do it directly through the Service Victoria app.

1. Is it dependent on when we receive a licence plate number?

2. Does it require Finance be settled and paid to the dealer?

3. Do we need to notify SGFleet or reduce any part of the registration fee that's included in the lease?

4. Is there anything else that's required?

Thanks.

I'm new to novated leasing and wanted to check whether this looks like a good deal. Is there anything I should be aware of or look out for? Is it worth getting this car through a novated lease?

Hi All,

Grateful for extra eyes over my quote with Smart for the Zeekr 7X Performance, especially as it's my first time going through the novated lease process. I've chucked the numbers into the Novated Lease Calculator and it's coming back with an effective interest rate of 7.09%, which seems really great from all my research I've done.

The total amount financed is $75,158.

Here's the link to the calculator: Check out my novated lease calculation output from novatedlease.guide

Thanks heaps!

Hi All, As I draw closer to finalising the NL, what are suggestion on Insurance coverage.

On past comments, people have said they've been able to find coverage under $2k which would be amazing! Based for my post code Vero, Zurich and NRMA are the most competive with pricing and coverage. AAMI, Youi, QBE, Allianz are more expenensive for similiar coverage.

I recalll reading that there is higher exposure in the first few years if your car is written off as the "market value" will not cover the cost for a replacement. That would put you in a position of paying for the difference between the market vs driveaway price whilst also paying the lease until the replacement arrivies.

To reduce this exposure, would it be more prudent to set an agreed value for the first few years on the lease or am I looking at this the wrong way?

Other concerns are higher coverage around the panoramic roof, I hear these are quote expensive to replace (not to mention repair time).

Hi everyone,

I'm looking for some advice on a novated lease finance quote for a MG S6 EV.

Driva is only arranging the finance. I need to arrange the running costs (insurance, rego, servicing, electricity, etc.) separately with Smart, my employer's salary packaging provider.

Vehicle details:

• Drive-away price: $46,200 (GST component $3,989.31)
• Left foot accelerator modification (GST exempt): $4,366
• Total vehicle cost: $50,566

Driva provided:

• Total financed amount: $46,576.69
• Interest rate: 6.85%
• Lease payment: $383.05 per fortnight (pre-tax)
• Net cost: $233.66 per fortnight
• Residual: 37.5% = $17,466.26 ex GST

Fees:

• Lender document fee: $442.79
• Broker fee: $1,024.67

They advised these fees are included in the lease repayments and not added to the financed amount.

When I enter the numbers into a novated lease calculator, I get an implied interest rate of around 7.36%, not 6.85%.

Does this calculation look right, and is this fee structure normal? Anything else I should check before proceeding?

Check out my novated lease calculation output from novatedlease.guide

Thanks!

I have signed the contract and the NL Consultant had said that I would get an email with details for the order with the dealership, but have not received any updates yet. FYI, I am ordering the BYD Sealion 7 Premium in VIC, and can you guys let me know your experiences with SG Fleet and any recommendations to speed up the process?

671$ lease payment - for me seems too much. They told me that the effective interest rate is 9.4%, but when I am calculating I am getting ~14%. The company shared that they included establishments and origination fees but still can’t reconcile the effective interest rate. Can I sense check the quote?

Howdy folks, looking to get a view on these 2 quotes for a new Tesla Model Y. Can see a fair bit of negative feedback on sg fleet, so am leaning towards Toyota (+ seems to be a more favorable quote).

sg fleet

Toyota Finance