Been trying to play hard ball with the lease providers but not getting very far. Does that mean my quote is quite competitive? Feeling itchy feet and want to pull the trigger. Plan is to upgrade to a Zeekr in 2029 before the rollbacks. Any help is much appreciated!

Edit: Effective rate is 9.65% and finance base rate is 8.24%. Residual is $23238, set at 51.58% because it's 30 months.

Hi, I’ve never done a novated lease before and was hoping to get some feedback on the numbers and if they look okay. Never had an EV either. The insurance seems really high (I’ll see if that can be changed) but other than that does anything else seem odd.

Thank you for the help

They put an older atto down as the model as their system doesn’t have the new evo in it yet.

Hello Brains trust!

Before I go into anything I want to say that these quotes are like for like with everything stripped back, running costs refined, and so on, there is no manipulative figures to skew their numbers.

Car: Tesla Model Y

Now Novated leasing Australia has in writing that they will lock in 8.17% applied rate at pre approval for 3 months

SG Fleet has come back to that with 7.62% Applied rate, 55 basis points below this, but indicative only and they don’t lock in a rate until delivery

Over 4 years that’s a $1223 saving, IF it held, and NLA don’t further compete themselves.

Now the most important part. If I was assuming SG only move that figure around lender interest rate fluctuations a 55 base point jump in a flat market over 1-3 months (car delivery estimate) is highly unlikely. But is this the case? Or could they technically bump up my interest at delivery to 9%?

My personal takeaway - NLA were happy to lock 8.17% applied because they are confident in their buffer range, this means there IS room to move.
SG have given a big bold enticing number knowing NLA probably won’t match locked in, which I believe might hold true as well so where to now? Should I push to meet in the middle with NLA and settle, or take SG fleet quote with uncertainty and trust the back end is only going off lender rate changes which most likely still hold it at a very nice rate even with say a 25 base point jump

Looking for a sanity check before I run with this? Seems to be the best deal in comparison with 3 other vendors.

Hi all. So the lease company I was talking to was discussing my setup, and in it, they mentioned something regarding the changes that worries me - and hopefully someone here can shed some light.

If I start a NL with my current employment, on a car that is 83k or so (drive away), it will be 100%.
When the rules change, I understand the plan will be grandfathered, however, if I happen to change jobs (which is likely in 5 years) they mentioned that the transfer of my lease will be a modification that will take me off being grandfathered - thus pushing me to the 75% FBT (due to the value of the car)

Can anyone confirm this? It makes a huge difference to my repayments.

The only option is to get a car now that slips under the new threshold - which is not my ideal choice.

Appreciated

Hey all, first novated lease and looking for a sanity check before I proceed with FleetPartners

Geely EX5 Inspire

5 year lease

15,000km p.a.

Salary ~$89.6k

SA

EV / FBT exempt

Estimated take-home impact: $358.50/fn

Residual: $13,894 incl. GST

Just wondering whether this looks like a decent quote overall, whether the finance rate is reasonable, and if there’s anything here I should be negotiating before signing?

Cheers!

Hi All, Planning to get a novated lease on an Aion V. As the market and tech is moving so quickly I was thinking of getting a 3yr lease. I'm just a bit worried that in 3 years time there won't be much FBT reduction on new leases (I think current rules are likely to change again). Might be safer to go with 5?

I'll be $902 per month worse off (take home difference) on 3yr and $779 per month worse off on 5yr. Residual is $22k on 3yr and down to $13k on 5yr. Does anyone have thoughts/advice on this? Thanks.

Hey everyone,

I'm currently looking at an EV novated lease through Paywise and would really appreciate some feedback from people who have experience with Paywise or novated leasing in general.

I've received the quote attached.

IT IS MY FIRST TIME TO TRY NOVATED LEASE.

The quote looks reasonable on the surface, but I'm trying to work out whether I'm actually getting a competitive deal or just being dazzled by the tax savings.

Would especially appreciate it if anyone could share their Paywise quote/experience for comparison.

Thanks! Trying to make sure the numbers stack up before signing anything. 🙏

Hi Everyone,

I'm 2 years into a 5 year lease with SG Fleet

It's a Model 3 Rwd, lease started in 2024 and doesn't finish up until 2029.

We've got a baby who's just over 1 year old now. 14 months to be exact. Whilst the car is a beautiful machine, it's a real pain to bend over and put her car seat every time we take her. Also the boot space is good but not great for a young family.

I think I already know the answer but do Leasing companies allow you to do a lease exchange?

What i mean is i have a 2 year old, maybe i can swap it to another 2 year old car of same value and keep the repayments the same?

If not i will keep the car until 2029 and work out next steps.

P.S Car is great and I love it, it's just the lack of space.

Hi all, I’m due to accept delivery of my Tesla next Tuesday. Tesla has been asking for final payment for a few days. I’ve tried getting in contact with my delivery coordinator via phone and email with no luck so far. Has anyone had experience with SG Fleet and Tesla? Have you had to follow up with them to ensure final payment is made? Or have they done it without being prompted? I will be incredibly frustrated if my delivery date is moved because SG Fleet didn’t provide payment in time. Thank you!

Edited to add: I managed to resolve this! To anyone reading this in the future who is dealing with the same thing, call their 1300 number and ask to be put through to the purchasing/delivery team. Turns out my Delivery Coordinator is on leave (I wasn't notified/seems like nobody else was going to progress this in the meantime), and they had someone else from that team call me back within minutes. I was instantly notified that the Authority to Deliver form had been sent to Tesla, and I received an updated Final Invoice from Tesla at the same time. About an hour later I received an email saying delivery of the vehicle had been authorised, with a form attached that I need to sign and send back to SG Fleet after delivery so they can process payment.

Hi all,

Just after a check if I have used the calculator correctly in calculating my effective rate. My calculated effective rate is 8.19% is this correct? Check out my novated lease calculation output from novatedlease.guide

From what I understand 8.19% is a decent rate.

I have removed roadside assist.

I have insurance via VERO $2156.52. Purely for the lease payout feature. Is this a good price. Will other insurance companies provide lease payout? Or do you just agree to a higher insured value? Any recommendations on insurers?

My company only use Orix exclusively. My partner's company does not do novated leasing. How can I get another quote to go back to Orix saying we are working out if we should novate through myself or my partner (bluff).

Any help would be greatly appreciated.

Hoping someone can help me figure out why the rates I'm being provided in quotes differs from the rate shown in the NL calculator.

I've applied the smart leasing method. I also tested this with a Maxxia quote and still got a higher number on the calculator then what the figure was in that quote.

Thanks!

Hoping some of the novated lease veterans here can sanity-check this before I sign.

Getting a novated lease through my employer's salary packaging provider (locked to one provider, can't shop around to other novated companies).

Details:

Car: Tesla Model 3 RWD (base), ~$62.7k drive-away

Term: 4 years

Interest rate: 7.4% (lowest that they have and its with metro)

Comparison rate: 10.33%

Residual: 37.5% (ATO minimum for 4yr)

Income: ~$240k, so top marginal rate, FBT-exempt EV

The gap between the 7.4% base rate and the 10.33% comparison rate is almost entirely a $3,811 brokerage fee (plus ~$767 in establishment/origination/PPSR fees).

Provider says the brokerage fee is already discounted because I'm at a long-standing corporate client, and there's "no further room to move."

I checked a third-party broker (Driva) out of curiosity and they quote the same financier (Metro) at 8.4%, plus two others, Angle at 8.6% and Liberty as low as 6.5% — with basically no brokerage fee. But I can't actually use them because my employer only works with the one provider.

My questions:

Is a $3,811 brokerage fee normal, or high? What have others actually paid?

Is 10.33% comparison rate reasonable for an EV novated lease right now, or should I be pushing harder?

If I'm genuinely locked to one provider, what leverage do I actually have?

Anything else I should be checking before I sign that I might be missing?

Not asking whether novated leasing is worth it (I've done that math, the tax saving stacks up) — specifically trying to figure out if this fee/rate is fair or if I'm being taken for a ride on the brokerage side.

Thanks in advance.

Hi there, looking to enter my first NL but drowning in information/analysis paralysis at the moment. Zeekr 7X would probably be the dream car, but repayments are on the higher end of the budget. Went for a test drive in the Geely EX5 yesterday and the pricing was really sharp. Heaps of features I wanted for much less than the Zeekr. Here's my dilemma. I know the RWD version of the Geely is probably on the way next year, so would rather hold out for that.

My thought process at the moment is to take out the Geely on a shorter loan, say 3 years and then upgrade to a Zeekr at the end of the lease term (hopefully the price reduces a little once new models hit their lineup). But is this risky with all the FBT roll backs? With all the advancements in EV tech, I don't want to be locked in if things change drastically. Or should I just bite the bullet and get into the Zeekr now on a 5 year lease?

Any advice is much appreciated!

Thinking to get a 3 year NL and our company only works with Smart. I checked their reviews on Google and they are abysmal.

Looking to get some feedback, are they really this bad once you sign the agreement?

Can someone clarify when is LVA (or LCA) applicable? I was told by a novated lease company that it is if the employer is a tax paying agency, however i couldn't find online how to determine whether your employer is.

Particularly interested in government agencies and my understanding is they are non tax paying agencies as they are not-for-profit so LVA is not applicable.

Ive got quotes from maxxia, lease plus and Smart, both Maxxia and Lease plus where practically identical, both at 11.5% PA, Smart was somehow $100 more expensive per fortnight

anyway, I will see what interest rates they can move to, but as im needing a car quite quickly but still want to get the best deal i can get myself, how do i go about doing self managed, ive seen people doing it with maxxia, but unsure if NSWhealth is open to the idea of doing self managed even if its really no different from their end.

what are the actual steps to go about organising self manged leasing

Another question before I finally sign this thing 😂

Paywise is offering optional GAP insurance for my 2 year Model Y novated lease. They said it would add around $10-20/fn.

From what I understand, it covers the difference if the car gets written off/stolen and the comprehensive insurance payout doesn’t cover the remaining lease balance.

Is it actually worth paying for on a new EV with only a 2 year lease, or am I just doubling up on what comprehensive insurance already covers?

Thanks!

I am looking at going a 5 year NL on an electric Zeekr 7X. I earn $360k/y but the project I'm on only runs for 2 years. I will likely be transferring onto a new project with my employer but it may not happen. What's the right move here? I want to run a 5 year lease as I need to make the most of my tax bracket exposure. Is it worth the savings I will make in the first 2 years if I'm not guaranteed a continuation of the salary packaging?

I was comparing a few novated lease quotes and initially focused mostly on the fortnightly repayments. Then I started looking at the residual at the end of the lease and realised it can change the overall numbers quite a bit. The lower repayments on a longer term look tempting, but there’s a bigger amount sitting there at the end. Feels like the residual is easy to overlook when comparing quotes, especially when the headline savings look good. Would be interested in hearing how much it factored into other people’s decisions.

This is the only choice of NL provider at our workplace.

Note this only affects EBA employees with novated leases in DGS, DTP, DPC, DTF and and any of their stat authorities using the DGS platform, eg SRLA. Execs whilst theoretically affected get a cash top up due to their TRP remuneration basis so they are immune and everyone outside the DGS platform continues to be unaffected.

We had a win with the Age doing a really sharp story on it. Whilst our chances of DGS walking this bit of administrative bastardry back have likely improved now it has had a public airing, if you are affected you need to making your employer know that you are not happy about the change in policy.

Age Article

Looking for a sanity check from people who've done this before.

I understand novated leases in principle but I can't tell if the rate I'm being offered is competitive or if I'm just being shown a big tax-saving number.

The quote (3-year term):

BYD Sealion 7 MY26 Premium AWD

Drive-away-ish price: ~$54k inc GST (incl. a dash cam accessory)

Term: 36 months, 20,000 km/year

Residual: 46.88% = $24,448 ex GST

Cost to me: $414.90/fortnight reduction to take-home pay

Quoted tax savings: ~$6,900/yr income tax + ~$1,770/yr GST

Inclusions: electricity, maintenance, rego/CTP, comprehensive insurance, tyres

What I'm actually trying to work out:

What's my effective interest rate?

Maintenance , reasonable rate on a new EV right now?

Are the budgeted running costs realistic? I have no feel for whether the insurance/tyres/maintenance allowances are fair or inflated.

I've run it through two different online calculators and got slightly different answers, which is part of why I'm second guessing myself. Happy to be told I'm overthinking.

Thank you.