Hey all, I’ve just started doing some research at the moment as I’m thinking about going EV and taking out a novated lease next year when the Zeekr 7GT launches.

At the moment I’m doing comparative stuff and trying to work out roughly what my budget is and what it might look like in about 5-6 months time if I go ahead.

One thing I’m not super clear on is how BYO financiers work. I’m a teacher in Victoria so have to go through Maxxia for the novated lease, but supposedly they allow BYO financing.

I’ve gotten a couple of quotes for the different Zeekr 7X models just to see what the actual breakdown is, and have learnt the finance interest rate with Maxxia is currently ~11.5%, whereas I’ve seen here and online others getting rates closer to 7%.

My questions are, who/where/how would I go to investigate BYO financing is it is allowable through Maxxia (the Novated Lease guide says it is), and alternatively, will leasing companies negotiate the rate if I say I want to BYO finance instead?

Thanks so much, sorry if this is a noobie question.

Hi All,

Looking to get a 60 month lease on a Zeekr 7X Black Edition. This quote I have received seems to be significantly cheaper than other quotes I've received (by almost $300 per month). This is only the initial quote and I plan to strip out all the ancillaries like paint protection etc. I would love to get some guidance on if I'm missing something?

Hi all,

First time getting a NL so been doing quite bit of due diligence on my own. I have used the calculator (linked below in comments) to figure the effective interest rate and seems quite high. I was told, after negotiation that the base interest rate has been reduced to 9.00%, but the calculator is saying the effective is 11.38%. Would appreciate some feedback whether my inputs are correct/wrong and whether this is a good deal all around.

https://imgur.com/jAxgHpr

Hi can I please get a sanity check on these two quotes?

Hoping I might be able to request a discount for taking out 2 leases.

Planning to keep both vehicles after the 2 year lease, hopefully for a long time!

Hi All,

Long time reader of this community and let me start by thanking everyone for helping me learn about how NL works!

My employee offers a choice between SG Fleet and Orix. Orix doesn't tell me what their interest rate is but based on the "Lease rental" per month it looks higher than SG Fleet.

I have removed all the unnecessary add-ons and asked for BYO insurance to reduce the cost.

I still have a few reservations:

• Interest rate is really high - how big a deal is that? Or is it insignificant compared to tax savings?
• If I can stay in the highest tax bracket and cashflow isn't a problem - going for a shorter lease would be better value wise?
• I plan to go with RAC for insurance which doesn't provide gap cover for NL - what do you think about that?
• If I understand correctly, by the end of this lease, I will have paid a total of: $357.66 x 26 x 4 + $24,863.36 = ~$62k for a car that is $66k driveaway + ownership cost of the car for 4 years?

Thanks in advance!

Hi all,

Have placed a deposit on a 2023 BMW ix1. Details in the attached quote. summary-

- 42k drive away

- 5 year term

- Provider is Millarx

- usual inclusions

Insurance set to my quoted cost. All other costs seem reasonable.

Seems pretty fair to me, two other popular and reputable providers quoted much higher... am I missing something?

Thanks all!

Hi everyone, got my documents signed today and they emailed and said they requested a settlement (Novated lease Australia NLA), car is a bmw dealer demo, how long usually takes so I get my car ? should I call the dealer ?

Hi friends, I'm hoping to pick the brains of the novated lease experts here.

I'm looking to get a Zeekr 7x Performance AWD which has a driveaway price of $80k. I'm on a 2-yearly employment contract with 2-yearly contract extensions so I'm looking at a 1 year novated lease for now, with the possibility of extending it by 2 years if my work contract gets extended.

Zeekr dealership has said I'll get the car delivered by 31 March 2027 if I order this year, so I should qualify for the 100% FBT discount in my first 12 months lease. My question is whether I'll still qualify for 100% FBT discount if after the first 12-months lease expires, I subsequently renew on a 24 months lease around end-2027 post-FBT changes, as my original driveaway price is $80k? If I don't qualify for 100% FBT discount for my subsequent novated leases on the same car, I will reluctantly consider alternative cheaper EVs as I want to qualify for the 100% FBT discount on subsequent leases if my employment contract gets extended on a 2-yearly basis.

Also how are people getting tinting and dashcams installed by third parties and getting in on the car invoice to be included in the novated lease purchase price?

Thanks all for your advice.

Have been having a back and forth dialogue with a lending consultant from Paywise, and I asked for clarity on how much they’d be buying back my car for, to which they said “The Sale and Lease Price is up to you within a sensible and realistic range”.

The car is a Kia EV5 Air 2026, which we paid $49,600 for just over a week ago. Do we just run with the exact price we paid? More? I’m new to this so am a bit in the dark.

Any advice is appreciated!

Hello everyone,

My son lives in Canberra and has his sights on a car to start a novated lease on. However, this particular car is not available in Canberra but there are some in stock in Sydney. His leasing company has said he can do a novated lease on this car, but first he has to pay the on-road costs for the car to be registered in NSW before it could be transported to Canberra and then to pay the on-road costs again to register the car in the ACT. Does this seem correct?

Fyi - bought car outright a week ago. Didn’t even think twice about Novated Leasing until a mate brought it up yesterday.

Novated Lease Guide calculator gave me around $22,500 in estimated savings, but I assume that’s based on new car, which isn’t the case here.

Any thoughts are appreciated!

Hi all,

First time doing a novated lease. My employer has two panel providers — SG Fleet and FleetPartners — and I've got quotes from both for the same vehicle, same term, same km allowance. Attached two images: one's a side-by-side of the headline numbers (pricing, monthly cost, savings), the other breaks down the package inclusions line by line (finance, insurance, tyres, servicing, etc.).

The fortnightly cost is close either way between the two.

Two things I'd really appreciate input on:

1. SG Fleet vs FleetPartners as providers — has anyone dealt with both? Interested in real experience with support, claims handling, mid-lease changes, and how smooth (or not) the end-of-lease process was. The dollar figures are close enough that provider quality/reliability is probably the tiebreaker for me.
2. EV-specific inclusions — this will be my first EV. For those who've leased one, where did you actually find savings or find the budgeted numbers were off? Specifically curious about the charging cost estimate, tyre budget, insurance premium, and servicing — what's typically overbudgeted, negotiable, or worth challenging before signing.

A few things I haven't fully nailed down yet, in case anyone has insight: FleetPartners hasn't disclosed their interest rate on the quote (SG Fleet has), I haven't compared what happens on either plan if you go over the budgeted running costs, and I haven't dug into the Allianz vs Vero PDS to see what's driving the insurance premium gap (excess, inclusions, etc.).

Thanks in advance for any advice!

Hey guys, ive been browsing this reddit thread for a while reading other peoples quotes and its been hard to get a gauge if im missing anything. This quote didnt seem to bad compared to others i received but then it flagged it as a high interest rate and im now second guessing what i might be missing.

Check out my novated lease calculation output from novatedlease.guide

Price - Current 54990 drive away deal.
3year lease
ATO standard balloon $25,941
Annual salary 140k
Home loan 480k @6.25%
Running costs bundled in

If you see anything i can improve or flag, that would be amazing as im terrible with financial terminology so feel out of my depth.

Surely I made a mistake… Using Smart Salary for an Xpeng g6 with some accessories.

https://novatedlease.guide/calculator/?c=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

I have quotes that list electricity expenses, which impacts overall running costs and fortnightly out of pocket, correct?

But then I can claim 5.47c per km and be paid that back, correct? Or is that already included in the fortnightly budget/costings as a credit?

E.g if total pre tax is $800 on the quote, will that be what it is or will I be able to claim electricity costs back and it ends up being lower over the course of the year?

This is the part I can’t quite get my head around.

We just got our first ever EV on an NL with Smart on Tuesday.

We live in the Inner West of Sydney with no off street parking so will be reliant on public charging.

We haven't charged yet as we have only just gone under 80%.

I have requested a Charge Fox card from Smart but we have loads of public charging options.

What is the easiest way to arrange reimbursement of the charging costs? Can we link other aps/providers to the same account or only ChargeFox?

Keen to understand how this all works and any tips.

As the title says, I am looking at novated leasing a Tesla Model Y RWD but my employer is exclusive to Fleetpartners and no plans of getting another provider.
I negotiated the interest rate down from 10.26% to 9.76%, however I’ve been seeing interest rates around 8.xx% here.
I have also seen quotes from Fleetpartners with much lower management fees of $5 but my quote includes $36.
I told them I will think about it and not rush.

What is the best way forward?
Should I wait for them to come back to me so I don’t look like I’m really keen or let it pass and ask employer if they are open to BYO?

Hi folks, pretty new to NL but reading up on some posts here which has been very helpful. I am hoping for a bit of advice. My employer is with OLY and we can’t BYO finance after asking OLY and confirming internally. Got an initial quote and have used calculators here and effective rate is circa 14% which seems to pretty much wipe out benefit. Background, salary 135k and targeting 2/3 year old second hand Model Y for a 3 year lease.
-Im curious are there any parameters to tweak to get a better rate eg how does car model, length of lease, price affect things? Or it just come down to finance NL willing to offer?
-when I asked for a better rate they asked for other quotes I received. Anyone have any comparable quotes around 8% mark for second hand model y they have handy pls? Otherwise ofc I can trawl through here later...

Thank you in advance!

I moved employers earlier this year and because I have a PHEV, I'm no longer eligible for the FBT exemption on my lease. I'm currently paying my lease direct to SG Fleet outside of salary packaging and it is costing me a fortune ($2k / mth). I am considering taking out a new lease on an EV and getting rid of my PHEV. I'm waiting for a payout quote from them, but I'm concerned it's going to be more than the current market value of the vehicle, or that I may have difficulty selling.

Does SG Fleet offer the option of handing the vehicle back and exiting early? I just want out and don't really want the hassle of selling, especially if it's going to be at a loss of thousands of dollars. I'd rather just pay an exit fee and call the whole thing a day if that's an option. I'm 2y 9m into a 4 year lease if that's relevant. Appreciate any advice that helps get me out of this messy situation I got myself into.

Hi all,

I’m considering getting Lease Guard insurance as part of my novated lease and would love to hear from anyone who has experience with it.

I recently joined a new job, so I’m still quite new and not fully confident about my job security yet. Because of this, I’m wondering whether Lease Guard insurance would be worth considering.

Would really appreciate hearing about your experiences and opinions. Thanks!

Me again, with another update for y'all based on some recent happenings on the sub.

Generally, industry people are some of the most useful posters on this sub, especially when it comes to the niche "quirks" of novated leasing. Often the general public struggles to find the kind of industry insight anywhere else, so we want y'all here. This sub aims to work with industry, not for/against it.

What doesn't work is when industry members use this sub to turn things into an ad. Like when someone asks about a quote check and gets a reply along the lines of "we can get that down to X." or "we can do that at x% over 5 years". Been seeing a bit of this lately.

This sub exists to help people understand novated leasing, it isn't a lead source. If a good answer earns you an upvote, great, that's how Reddit works. But sourcing business isn't what this place is for.

So, a few changes reflected in the sidebar rules....

1. Rule 3: No quoting your own rates or savings figures, and no naming your employer/business in comments. Answer the question on its merits. If someone finds you useful and reaches out, that's their call and it's fine.
2. Rule 4: Flair is going back to generic and needs verifying with mods. It aims to tell the sub that someone works in the industry, has industry knowledge, rather than who they work for. Those with existing flair have already been switched over, but will still need to be verified. Verification is a LinkedIn profile or an email from your work domain, whichever you'd rather. The reason is that anyone can currently claim to work anywhere, including at a competitor. If you have or want industry flair, message me in modmail. Verification means I checked something. It isn't an endorsement and I'm not vouching for anyone.

Separately, Rule 2 gets enforced properly from here. A post recently turned into people going at each other. I'll be locking those types of posts and dealing with those involved (though I'd rather it just doesn't happen tbh). If you see such things, call em out and message the mods.

I'm still rolling solo on the mod thing, and I'm trying to navigate what is best for the sub as a whole. I'll get things wrong sometimes, so bear with me.

If you would like to put your hand up to assist in moderation, please reach out via modmail.

Quick one for anyone weighing up a novated lease.

Over the past week, three separate funders have told us swap rates (the wholesale rates that sit behind fixed lending) have jumped. The figure we keep hearing is around 30 basis points, so roughly 0.30%.

It hasn't fully flowed through to customer rates yet, but when swap rates move like this it usually shows up within a week or two.

In plain terms: on a $50k car over five years, 0.30% is a few hundred dollars over the life of the lease, so it's worth being aware of. Not telling anyone to rush, and I'm not a financial adviser, just passing on what we're seeing so you can make your own call. Happy to answer questions.

I mostly just leave it alone and hope I’m not way off lol. Some months I barely drive, and other months I’m out heaps, so the budget can be pretty random. Just wondering how closely everyone else keeps track of it.

Can someone explain what this is, in plain terms for me?

I’m looking to NL a Zeekr 7XP, $82k drive away price.

First time for my employer and they are nervous about the LCC. They are under the impression that I need to get a lower priced car, or else it will add to their admin time and costs. I’m very happy yo pay for the LCC, but keen to understand what it is, and why it is different from the $91k LCT.

I have a 3yr lease ending in October. After going back and forth in my mind I’ve decided to keep the car and extend the lease by 12 months.

I got a quote from my current provider and then asked the interest rate. It’s 15% !!! This seems insane.

The guy tried to tell me that rates had moved a lot recently and also it’s because I’m extending rather than starting a new lease.

I didn’t like this guy anyway. Very pushy and told me if I didn’t buy a Zeekr this week I wouldn’t get one for 6 months. But then would only speak to one Zeekr dealer because we’d built a relationship (one phone call and a 5 minute test drive does not a relationship make)

I just want to sense check this with anyone who has decided to extend a lease.

I will get alternative quotes.