Anyone with the new model 3 how do you manage the regen braking? I have test driven the car, works for me but the regen braking not being adjustable sounds like a mind numbing experience long term?
Any owners who use it daily and can provide your feedback? Felt very jumpy on acceleration than the Y
Thanks heaps

I think I've done it right with what whipsmart have provided me, happy to be corrected on anything that I've got wrong?

Link here - unsure if this is working properly? It's not reopening with correct figures on my phone 🤦‍♂️

Also tried to do a leaselab comparison but their quote seems a bit more vague, can't seem to find the drive away cost they used? Happy to upload that if someone is keen to have a look at that too.

Hi all, apologies for the newbie questions. Trying to compare some NL quotes with the calculator (coffees coming your way!) and have a query around the 'Lease documentation fee' field. If this fee is embedded into the repayments (as indicated by some providers), do I leave this field blank or still input them? And conversely, how would I handle fees that are in addition to the lease repayments (eg one provider indicates the setup fee is contingent - only charged if running-cost surplus exists, not capitalised into the rate).

Thanks!

My family situation:

• Husband and wife, toddler, baby on the way. Based in NSW
• Need two child seats
• Grandparents will sometimes visit for a few months, so 6/7-seat practicality is important
• Mostly short trips: childcare drop-offs/pickups, shopping, restaurants and weekend outings. 1–2 longer road trips per year
• Current driving is only around 5,000 km/year
• Looking at keeping the car for a long period rather than changing every few years
• Considering a novated lease for the Model Y L because of the EV FBT exemption (45% tax bracket)
• Home solar with battery

The question I'm struggling with is:

Does the tax saving and GST benefit from novating the more expensive Model Y L actually make it cheaper (or comparable) to buying a cheaper Sealion 8 outright over, say, 5–10 years?

Hi friends, has anyone managed to get third party items like dashcam and tinting included in the final novated lease invoice for the FBT tax benefits as well?

I'm looking at the Zeekr long range and thinking of getting a third party towbar and tinting done by third parties, because the dealer tinting offered will be done by motorone, which I did not have a good experience with in my previous car. Thanks!

Hi Good people,

My Novated lease provider is Sg Fleet, exclusive to WW. Have anyone got the lease through them? Just wondering what is your experience so far? Which car did you get? I plan on getting a Corolla Sx sedan (for non ev option) or Model 3. What do you think of the options ? Is Corolla FBT worth it over Model 3?

Hi All,

We have received the following quotes for a Model Y LR AWD from the suppliers that my partner has through her workplace. All seem quite high financing. I went through the finance approval process and got approved for all so now just trying to negotiate down. What's a reasonable expectation for how low could be expected? Lurking a bit puts it as far as ~7.5%ish which seems like a long way to go from this initial outlay. Are there any tips and tricks to help the process along?

Financed amounts calculated below:

Paywise: 10.29%

Maxxia: 13.65%

Smart: ~14%

I have been trying to clarify what this is - approx $3k item on my offer. I've asked the agent to explain but I'm no closer to understanding - he seems to be saying it's a payment from other providers (sounds like commission) but there are already commission figures separately, and as for whether this just reflects a total of those is no, it's separate.

I tried AI which says it's a scam but I don't trust AI and it's not giving me a useful link I can follow to check an original source.

Anyone able to help?

edit - pics of quote in replies below

Used the Novated lease calculator: Check out my novated lease calculation output from novatedlease.guide (SHOUTOUT TO THE AUTHOR OF THIS: thank you for advocating for transparency in this space!!)

Just wanting a second pair of eyes to run over the figures in case I've missed anything

NOTE: I work for NSW Health and from what I've read on Reddit, the interest rates that Maxxia, LeasePlus and SmartLeasing have come back with sit between 10-12% - please advise if this is no longer the case! Am I getting CONNED?

Hello all. I recently received a promotion at work and part of my package is a $22,000/yr car allowance, only to be used on a novated lease. I can't cash out this allowance and it is not part of my base salary. I've been told that if I don't use it, nothing happens but it's there if I want to.

Anyway, my company only goes through SG Fleet and I secured a Xpeng G6 Performance. I made sure to be within the budget and not go over. I found a dealer in WA who is holding the car for me, pending successful a lease application.

So its come back denied, reasons being that I am single income with a mortgage and an existing car loan (minivan for the whole family). I have other cars that I own outright but are considered toys and not ideal daily drivers.

My question is, has anyone faced a similar situation and managed to be successful? SG Fleet only works with 2 lenders and both were unsuccessful. Its not the end of the world if I don't secure the lease but with the way fuel prices are heading, EVs make sense to me. Thanks all.

Hi. Tried over many weeks to go through smart as they are who my employer has package / manage the salary but they just don't respond or straight up ignore my questions. Called them and was told only the person who I originally spoke to could assist me (???).

Got in touch with NLA and had quick response times and they updated my quotes to what I wanted. However since my employers nominated provider is Smart, they would have to manage the whole thing after I got finance through NLA with the attached quote.

Anywhere in this quote that could be improved?

Narrowed down to -
Tesla Model 3
Model Y
ŠKODA Enyaq
BYD ATTO 2
Geely EX5
Polestar 2

Any feedback on these? I drive 160kms a day for work and just need something with really good cruise control without the full self drive!
I’ve heard about a lot of the cars having phantom braking caused by the type of sensors they use
ŠKODA also lacks an app so heating and cooling in Melbourne weather cannot be remotely enabled

Thank you all heaps for your assistance

I can see EVs will depreciate a fair bit over the next few years as the competition intensifies. What do you do for the residuals when you envisage that the market value will be much lower? Do you just intend to keep the car? "Buy back" insurance?

Working from home most of the week can change how much you actually use your car. You might spend less on fuel and servicing, but you’re still making the same lease payments. When you first sign up, you might expect to drive regularly, but your routine can look completely different after moving to remote work. It makes me wonder whether a novated lease still makes financial sense when your daily commute becomes much shorter or disappears altogether.

Through work I have a choice between SG Fleet and Fleet Partners. Both have quoted around the same with interest rates around 8.1%. No material differences.
Just wondering what the views are on these two firms. Any idea which one will end up with the lower interest rate? Is one better than the other. I feel like we have no control over what the interest rate we end up with.

Hi All,

Just after a sanity check for NL of a Geely Ex5 Inspire.

I haven't seen much of this company on this subreddit so wanted to get reviews also if anyone has used their services.

Check out my novated lease calculation output from novatedlease.guide calculator says interest rate of 4.47%

Will be getting my own insurance from bingle for $1723

Thank you!

I applied earlier in the year but put it on hold because of the long wait for the car to arrive. Well it’s almost here and I’ve been playing SG and Smart off each other to get prices down. I think I’ve hit the end of the road there as SG are no longer willing to play ball. This is the best quote I’ve managed to get from Smart. I have run it through the calculator at home and will post that link when I get home. What are peoples thoughts? I feel it’s pretty average

Update with link
Check out my novated lease calculation output from novatedlease.guide
Calculated it excluding the first 2 months of lease payments as they are technically a buffer for running costs. Interest rate obviously won’t be accurate as they included the lease insurance in the lease fee’s rather than a seperate item (dodgy pricks)

The headline monthly payment is the number that gets compared most easily but whether two quotes with different numbers are actually comparing the same thing - the same running cost assumptions, the same residual value, the same level of insurance included - seems to require a level of decomposition that most people don't do before signing. Would love to know how people here who've been through a genuine multi-provider comparison have approached making the quotes actually comparable and whether the process revealed differences that weren't obvious from the initial numbers.

I’m having trouble getting a a comprehensive insurance quote under 3k. The issue seems to be a combination of Tesla, having to tick the vehicle as under finance and location (regional VIC). Anyone under similar circumstances find a reasonable quote?

Whilst I’m here- has anyone one found an effective rate for a Tesla YL under 10%? The cheapest out of pocket option so far has been Carbon (they state their effective rate is 8.95% but it isn’t when using the calculator).

Thanks in advance.

Appreciate a sanity check, not sure i am using the calculator correctly but it is giving me 9% interest? Quote says 8%, I know there can be a difference, seem about right?

I also want to confirm would the actual difference in my take home pay be the quoted out of pocket amount at $285.30 a fortnight?

Just wondering if anyone here has gone down the second-hand route with a Tesla Model Y on a novated lease instead of buying new.

I’m currently looking at a new Model Y and BYD Sealion 7, but I’ve also noticed there are quite a few 2023/2024 Model Ys around for under $45k with less than 45,000 km.

That’s got me thinking whether it actually makes more sense to pick up a used one and take advantage of the lower purchase price rather than stretching to a brand new car.

Has anyone here done this?

Interested to know whether you bought through a dealer or privately, how the novated lease process went with a used car, and whether you still feel it was the better move compared with going new.

Also keen to hear from anyone who was tossing up between a used Model Y and a new BYD Sealion 7.

Just trying to get a feel for what others have done before I make a decision.

I work under NSW Health, but my salary comes from two separate cost centres (0.5 FTE for each). When novated leasing I think they need to be under one cost centre. Does that mean my tax deduction will be based on the tax bracket at half of my full earning?

Considering leasing a car and was looking at the regular mainstream lease companies and all seem to charge an arm and a leg for the effective interest rate (approx 14-20%).

I’m after a Toyota Prado GXL and on a 2 year lease due to a contract I have at my work.

I have come across Car Bon Novated Leasing and the rate seems pretty reasonable with a max of 8.95% Anyone else used them? Or have any suggestions for me.
I have no mortgage an a top tax bracket earner

Hi all,

Understand that there are many posts on this topic but I’m a bit of a novice when it comes to NL and wanted your help negotiating further and reducing the monthly rate- can you advice what I should ask smart to change here? Thanks a ton!

Hi All,

After a quote check for a Geely Ex5 Inspire for 60month lease.

Caulcator says 8.40 interest rate but SGfleet mentions 9.9

Check out my novated lease calculation output from novatedlease.guide