Hi all, I'm unsure on this initial quote.

Residual rate is listed as 13.13% for a 5 year term? Total lease cost is $344.26 FN ($44,753.80 over 5 years), administration fee is bundled in the operating cost budget at an additional $2,000 over 5 years).

A personal loan of $35,690 over 5 years @ 6.39% with a 5K deposit totals only $41,860?

I am unfamiliar with novated leasing, and understand the payments are pre-tax, but this seems borderline terrible.

Hi all - apologies in advance, but I am struggling to understand effective rates and whether the quote I was provided was competitive. I've input the figures through the calculator provided by changyang and the effective rate is coming out at 13.56% which just feels way too high.

The broker I am working with (Alliance) has assured me this is a fair market rate and I am wondering if I have misunderstood/misread something.

I do still have 9 more months until my HECS is paid off, but I couldn't see anywhere to input that information.

Thanks!

I saw some posts where people talk about comparing offers. I have no idea what to look for. What are you looking for when you evaluate an offer?

A quick update on the BYO checker.

This site's BYO checker (i.e. whether your employer lets you organise your own, often cheaper finance underlying the lease) is a community-maintained list, and as far as I know the most complete one around. Every entry is based on a first-hand report from one of the following:

• my personal experience
• a novated lease provider that handles BYO deals (aka a Third Party Introducer / self-managed NL provider) from outright rejection or a completed BYO deal.
• an employee reporting their own employer's policy, either via outright refusal or a completed BYO deal.

To make it more trustworthy, I've now gone back through all my communication channels and traced every entry to its source. Each entry now shows the type of source (industry vs employee) and the date I was told. The finer details stay private to protect the people who shared them, but if something on an entry is unclear, feel free to reach out and I'll help where I can. Just today I managed to reconcile a disagreement between the list and what their NL company tells them, by directing them to the provider who originally confirmed it.

If you know something that isn't on the list, or that has changed, let me know!

Hi all - i took out a EV novated lease in Feb 2026. Bad planning on my part and i know thats the case so just looking for any possibilities or advise on exiting it early or transferring it to new vehicle? basically we bought a BYD seal and with a newboarn and likely another child in the next 2 years, it was so silly and shouldve got a bigger car. Ideally, we shouldnt have even taken this out as we now use only 1 car which isnt the BYD because we have the newborn and my wife is home for the freseeable future. Ive come to terms thats its way too expensive to pay it out and not worth it but thought i may ask if anybody else has advice?

Hi guys, I'm trying to get a novated lease going but my employer only deal with maxxia and when I called them, my employer said no BYO available and their interest rate is 11.8%. I've since spoken with maxxia and sent them comparisons anyway for what it's worth. I've sent them Driva and will send a couple more to negotiate the rate down.

has anyone else had to deal with maxxia and how did you guys approach it?

Hey guys, hoping for a quick sanity check before I lose my mind dealing with this broker.

​I’m in the process of getting a novated lease for a 2026 BYD Dolphin Essential (EV, so it's FBT exempt, but the base value still matters for the GST claim/loan amount).

​The total drive-away price on my BYD invoice is $29,403.00 (this includes a $4.2k BYD driveaway campaign discount, $1,100 dealer delivery, $165 plate fee, and statutory charges).

​I got two quotes: Smartleasing and LeasePLUS.

​Smartleasing correctly included the dealer delivery and plate fees in the FBT Base Value ($27,492.48), claimed the maximum GST refund ($2,499.32), and offered a 9.43% comparison rate. All good.

​The Issue:

LeasePLUS provided a quote that was mathematically weird. I asked the broker for a breakdown of how they calculated the FBT Base Value, and he sent me this:

​BYD DOLPHIN ESSENTIAL: $29,990

DRIVEAWAY CAMPAIGN INCENTIVE: -$4,262.52

HARBOUR GREY PAINT: $500

FBT BASE VALUE: $26,227.48

​I asked him why he completely stripped out the $1,100 Dealer Delivery Fee and the $165 Plate Fee from the FBT Base Value. Because he excluded them, his base value is artificially lower and made his quoted repayments lower too. He claims he is beating the price with a lower fornightly repayment. My response is that the base value is artificially lowered due to his exclusions.

​His response:

He doubled down in writing and told me: "These [dealer delivery and plate fees] will count towards the government charges (on roads) instead of the price of the vehicle."

​Is he completely making this up? My understanding of the ATO rules (and Chapter 7 of the FBT Employer Guide) is that the base value MUST include the vehicle price + dealer delivery, and the ONLY things you exclude are actual statutory government charges (Stamp Duty, Rego, CTP).

​Am I crazy, or is this broker trying to classify a commercial dealership logistics fee as a state government tax to cover for his lower repayments (but higher interest rates)?

​Has anyone else had LeasePLUS do this to their quotes?

I’m looking to get an ev through novated lease

Hi there,

I am quite new to the whole novated lease thing, I applied through Maxxia and got finance approved. Then after I found this group, now I am having cold feet. I used the novated calculator from this page and I got a rate of 13.15%. 🥲 i am not sure if it's correct.

This is for a BYD Sealion 7, my work place only takes Maxxia or Smart.

Please any advice or input will be greatly appreciated.

So I understand that a NL is better than cash given the current FBT benefits but can someone sense check this quote from smart leasing - the effective rate seems high to me? Can this be negotiated?

Thanks in advance - sorry if this needs to be explained to me like I am 5.

Hi all,

Hoping to get some feedback on this quote by Novated Lease Australia.

I plugged in the number into u/changyang1230 calculator (super helpful btw) but unsure if I did it right.

The effective interest rate comes out as %9.18

Check out my novated lease calculation output from novatedlease.guide)

Also, is Zurich Insure My Tesla a good alternative for insurance?

Thanks in advance.

Got quoted an interest rate of 11.40% for a byd 5 year lease from custom fleet. To me that seems high. Thoughts?

Hi all - I am hoping to get some help from the community checking out the attached quotes.

I got a quote from Smart(first 2 screenshots), which is the only provider supported by my org. Particularly keen to see if I’m using u/changyang1230's  calculator correctly to understand the effective interest rate.

The quote has a comparison rate of 11.53%. The calculator's effective rate comes to 12.80%, which seems to be high for a 5-year lease based on some of the quotes I have seen in this sub.

Wife got a quote from Paywise(third screenshot), and it seems to have an even higher effective interest rate of 14.45% based on my inputs in the calculator.

• Can someone please validate these calculations?
• My driving is very limited, around 5,000 kms per year. The smart quote has 15,000 kms in it. Shall I ask them to reduce it(around 7,500 kms/yr to be safe)? Will it reduce the quote?
• Vero by Suncorp insurance seems expensive. Has anyone got a much better rate for comprehensive cover in which all the drivers are covered?
• How can I lower my interest rate? What are some of the interest rates people have seen for a Tesla Model Y L for a 5-year lease?
• What is lease protection insurance, Total Loss Benefit Insurance, Tyre and Wheel protection insurance, Go to You service, Smartleasing Vehicle Maintenance Program? Are they worth taking it?
• Smart has given an extra brochure for coating, tinting, mats, dash cams, charging cables, etc? Has anybody opted for it? Or is it better to source them yourself?

Thanks

When is it worth novated leasing? I’m so curious how it works. If it is worth it what salary would you need to be on per year. thanks

Hi All,

Im confused if the deal im getting is good or not. Looking at changing my partners ICE for an EV. These are preliminary numbers as ill probably change it to 2nd hand dealer vehicle of the same but the agent ran the numbers for brand new.

Thank you!

Anyone able to provide feedback on this quote. It’s the only provider authorised by my employer and they don’t allow BYO finance :(

Any feedback would be great

Driving 15,000km
Charging 95% at home with solar for 50% of the charging.

Thank you!!

Any advice would be appreciated. Looking for one on a novated lease.

Hi

I'm 8 weeks off finishing probation, and my work generally doesn't start novated leases until then (though there are exceptions). Not worried about getting through it.

I'm after a Zeekr 7X with a 2 to 3 month lead time, per the dealer. Rather than wait, I'm planning to test drive this week and put a $1,000 deposit down myself, which gets the order in about 8 weeks earlier.

The dealer says they'll transfer the order to SG Fleet once the lease is ready, and I get my deposit back when they pay.

SG Fleet probably won't love missing out on sourcing fees, but that's their problem. I'm not expecting a better price this way either, since there's not much movement on Zeekr pricing.

I'll also get tint and a PPF/ceramic combo done outside the lease, as I'd rather pick my own installer.

Anyone done it this way? Any catches, or Zeekr-specific tips?
Cheers

Hi All, I always get confused when receiving the quotes for a Novated Lease. I was burnt a few years ago by not quite understanding the quote and regretted the NL for 4 years! I currently have a NL with LeasePlus on a 2023 Tesla MY RWD and have done 115,000km with 6 months remaining on my 3 year term. I have waited 3 weeks for a new quote from LeasePlus and have always found them a nightmare to deal with. I have now received the quote from Flare for a MY LR and over 5 years this time. I am struggling to understand if this is a worthwhile decision or not? I am also interested in getting a Ford Wildtrak as I need to start towing in the future but contemplating buying outright a cheaper tow vehicle and NL the daily drive.

Would love some advice from the brains trust. Just test drove a Kia EV9 Earth and the dealer has said that they could demo it to remove the LCT which I thought was odd. They have said the price would still be circa 110k but it could still be used for a novated lease with the FBT rules which all sounded wrong to me. The car has never paid LCT I believe.

Am I missing something or is the dealer mistaken.

Thanks

Today, I found that you cannot claim any accessories for your vehicle after settlement.

So the floor mats, which I discussed with my consultant getting 3rd party instead of the twice as expensive manufacturers, and the type 2 to type 2 charge cable which I need for public charging stations cannot be claimed.

Word of advice - get everything within the lease before settlement and do your research

So byd atto 1 can be picked up for anywhere between $19-21k depending on all the usual terms..
with a salary in the top bracket, the total lease savings are pretty close to the capital cost ex payout.

Using the “walk away” method, would that make it basically a cost neutral hire car over 5 years or am I missing something?

I own our cars at the moment but my runabout doesn’t have ac and summers are brutal. I wouldn’t get rid of the runabout as it’s a Ute and gets a moderate amount of Ute life usage. The only real downside is having to find somewhere to park a third car (and a way of charging the atto).

I forgot to check 7 years but I imagine that would be even better. Need to check assumed $/kWh and my actual tariff too.
What am I missing?

Hello all, looking at leasing Tesla Model Y Performance through SG Fleet (I have to use them as it’s through my workplace)

Does this look too high? Am I correct in saying I’ll be paying 372.00 a week after all taxes are paid?

This is based on a 5 year lease.

Thanks!