Novated Leases

[cafz]

There doesn't appear to be a general novated lease discussion, so I thought I'd kick one off with this question:

When leasing a Tesla vehicle, did your leasing company order it from Tesla for you, or did you order it yourself then have the invoice changed to the NL company? If the NL company orders it, how does it end up on your Tesla account?

 

[SynnerG]

I was advised to pay the 400 myself and then be reimbursed that post-settlement. Sgfleet.

 

[VH-IOQ]

After I advised Tesla that I was leasing through work, Tesla and the leasing company spoke to each other. I had some problems with the leasing company taking too long and the dealer getting impatient, but in general it was easy. I live in Canberra, so dealers are used to dealing with leasing companies.

 

[markwa]

In my case I ordered it. When you get to the stage in the process where Tesla generates the invoice you just provide them the details of the finance company and they they issue the invoice to them. In my case they invoiced the finance company for the full amount and then refunded my my $400 deposit.

 

[AngryLitig8r]

Any suggestions for novated leasing companies for SMEs? I work for a global firm but it Oz we’re quite small so lots of the regular suspects (e.g. sgfleet) aren’t interested in helping.

Ordinarily I wouldn’t care but with the FBT changes it’s a no brainer to go this route if possible.

 

[Skurfer]

We use SGFleet at work. Wish we didn't as they are rubbish to deal and one of the more expensive lease companies with but have no choice.

My model 3 18 months ago SGFleet ordered the vehicle for me but was a pain trying to get ownership transferred to me for the app and such. Sorted in the end

Just ordered a model Y and after the lease and finance was approved, SGFleet got me to order the car myself and they will refund me the order fee when the car arrives. They sent me an email with all the details they needed Tesla to include in the final invoice to make everything smooth. Tesla were more than happy to accommodate.

 

[AussieOwner]

Ordinarily I wouldn’t care but with the FBT changes it’s a no brainer to go this route if possible.

Id like to know about this too but unsure where to start.

 

[airzone]

Any suggestions for novated leasing companies for SMEs? I work for a global firm but it Oz we’re quite small so lots of the regular suspects (e.g. sgfleet) aren’t interested in helping.

Ordinarily I wouldn’t care but with the FBT changes it’s a no brainer to go this route if possible.

I've used Novated Lease Australia. They had the best rates by far when I leased my Ora. They also work with a non-exclusive contract, so you can change if you don't like them. Also, once I committed on the Ora, all the paperwork was done, and the invoice paid within 3 business days.

 

[elddum]

My employer (a multi-national IT company) uses LeasePlan here in Australia. They are ok to deal with - not stellar - but I have no choice as it is the only one my employer will deal with. The value they add has diminished somewhat since COVID and the move to manufacturer set pricing (like Tesla). In the old days they would have negotiated discounts with dealers to get a better price, in addition to providing the leasing service.

So, my experience on the process with LeasePlan so far:
1) Get a quote from the Leaseplan Online system (this is only a vague estimate, as it doesn't factor local state incentives, such as ACT no stamp duty and free rego for 2 years)
2) Order online with Tesla and pay the $400 deposit (and complete all rego details, etc)
3) Provide Leaseplan with the detailed order/contract from Tesla
4) Leaseplan then prepare a final quote in their system based on the Tesla contract
5) I accepted the quote, then completed all the application forms for the lease (ie, credit application with payslips, etc)
6) Wait for Leaseplan to approve the credit/lease (about 4 days)
7) Leaseplan contact Tesla and notify they will be paying the invoice
8) Wait, wait, wait, wait, wait for Tesla to advise more than an indicative EDD - I am still waiting

Once I have a delivery date, Leaseplan will work with Tesla to pay the invoice in full, and then I am told Tesla will refund me the $400 deposit. I see from others in the Model Y waiting room that they have had issues with their lease provider being slow to pay and impacting delivery date. Once I have a date I'll keep on top of Leaseplan and see what happens.


@AussieOwner - Novated leases are a lease (finance to pay your car off using monthly payments over a period of years), that your employer agrees to pay on your behalf while you are employed by them. They deduct the monthly payments from your PRE-TAX salary (ie, you save the tax $). You need to be regularly using your vehicle for work purposes to meet the ATO criteria. In the old days, you would then have to pay a Fringe Benefit Tax to the ATO (~30%) on the value of the lease... which made it only marginally better off. Since last year, the federal govt is waving the FBT on all zero emissions vehicles that have never had the Luxury Car Tax applied (for EVs, vehicles over $89,332). This means a huge savings benefit for you, if you meet all the criteria. See ATO site for info - Electric cars exemption

Best to talk to your accountant to get advice if this is right for you. If not, you could end up paying more by having additional tax owing.

Unfortunately the Model Y Performance is over the LCT threshold (at $93k), so you would have to pay FBT, which is why I ordered a MY LR with 20" wheels and Enhanced AutoPilot.

Hope this is of use to others.

 

[Nevyn72]

Id like to know about this too but unsure where to start.

If you have a lot of spare time you could start here...

https://forums.whirlpool.net.au/thread/3yqm6m0v

 

[AngryLitig8r]

I've used Novated Lease Australia. They had the best rates by far when I leased my Ora. They also work with a non-exclusive contract, so you can change if you don't like them. Also, once I committed on the Ora, all the paperwork was done, and the invoice paid within 3 business days.

Thanks - much appreciated. I’ll give them a call.

 

[schnaxxl]

I used Maxxia - I think that's the only choice my employer allows
it's my sixth go around with them
I can't comment as to how they compare
fun fact: they arranged to have BP issue a fuel card so I can charge all the petrol for my M3LR to my Maxxia account
less fun: last year I submitted a claim for charging costs incurred on an interstate trip and they bounced it
after several calls and emails, they paid up
they finally worked out that I didn't need to pay a fortnightly amount for petrol and as I mostly charge at home didn't need a regular deduction to cover charging

 

[Pobby]

For who have those already gone down the NL path, how do you track home charging expense to claim back as "Fuel"?
I was told by Autopia that I can provide charging history and power bill, but not sure what the best way is to track the history.
I can see the Tesla App shows the last month charging history, but is there a better way?

 

[Skurfer]

With SGFleet, they are still advising that I cannot claim home charging still as they don't have a definitive answer from the ATO about what is acceptable proof. I have no problem providing the receipts for fast charging and getting that claimed back though which is a positive.

 

[dronus]

I used Maxxia - I think that's the only choice my employer allows
it's my sixth go around with them
I can't comment as to how they compare
fun fact: they arranged to have BP issue a fuel card so I can charge all the petrol for my M3LR to my Maxxia account
less fun: last year I submitted a claim for charging costs incurred on an interstate trip and they bounced it
after several calls and emails, they paid up
they finally worked out that I didn't need to pay a fortnightly amount for petrol and as I mostly charge at home didn't need a regular deduction to cover charging

Ditto, They have been good to deal with, i have an existing lease which is due to expire in January so this timing might just work out.
I was also offered a BP, AMPOL and Shell card similar to my ICE car, if our servos had chargers there might be some benefit in this, but i also declined them. I had a follow up call asking if i was certain i didnt want them, and that paying for fuel myself and reimbursing it could be tedious. I kinda had to point out the obvious, and they got it.

I made sure they were cool with it and got quotes first with the configuration i wanted, I then placed the order online and paid the $400. They have kept in regular contact and have been quite helpful. The person ive been dealing with Leases a MY so knew the drill. Ill send them the invoice when i get it, but looking at the communication they have been in contact with Tesla with my RN number as a reference. Im hoping they pay the invoice at least a few days before delivery as any more wait time is going to drive me nuts.

Leasing is great, if you need a new car and want to offset some tax to cover it. The state and federal incentives are quite good. As ill be working till i die its a no brainer to lease rather than buy a new car outright.

Ludicrous Feed on YouTube recently posted some videos with examples on the costs related to leasing in Australia which are quite good.

 

[schnaxxl]

Ditto, They have been good to deal with, i have an existing lease which is due to expire in January so this timing might just work out.
I was also offered a BP, AMPOL and Shell card similar to my ICE car, if our servos had chargers there might be some benefit in this, but i also declined them. I had a follow up call asking if i was certain i didnt want them, and that paying for fuel myself and reimbursing it could be tedious. I kinda had to point out the obvious, and they got it.

I made sure they were cool with it and got quotes first with the configuration i wanted, I then placed the order online and paid the $400. They have kept in regular contact and have been quite helpful. The person ive been dealing with Leases a MY so knew the drill. Ill send them the invoice when i get it, but looking at the communication they have been in contact with Tesla with my RN number as a reference. Im hoping they pay the invoice at least a few days before delivery as any more wait time is going to drive me nuts.

Leasing is great, if you need a new car and want to offset some tax to cover it. The state and federal incentives are quite good. As ill be working till i die its a no brainer to lease rather than buy a new car outright.

Ludicrous Feed on YouTube recently posted some videos with examples on the costs related to leasing in Australia which are quite good.

not sure what you mean about the $400 - a home charger? seems a bit cheap
at the time of negotiating my lease I was struck by Tesla’s instransigence re accessories
I had a list including OEM roof racks and a wall charger but they would only offer the car - everything else was a direct purchase at my expense

 

[dronus]

not sure what you mean about the $400 - a home charger? seems a bit cheap
at the time of negotiating my lease I was struck by Tesla’s instransigence re accessories
I had a list including OEM roof racks and a wall charger but they would only offer the car - everything else was a direct purchase at my expense

The $400 was the order deposit i payed to Tesla.
Yep same, i had to buy everything else at my expense, wall charger $750, Mobile Charger $550, Type 2 cable, floor mats, etc etc etc couldnt bundle anything with the purchase of the car like i had been able to in the past which kinda sucked.

 

[schnaxxl]

The $400 was the order deposit i payed to Tesla.
Yep same, i had to buy everything else at my expense, wall charger $750, Mobile Charger $550, Type 2 cable, floor mats, etc etc etc couldnt bundle anything with the purchase of the car like i had been able to in the past which kinda sucked.

it’s odd because they would make more from selling the accessories as a bundle
I had the accessories well before the car arrived

 

[dronus]

it’s odd because they would make more from selling the accessories as a bundle
I had the accessories well before the car arrived

Ditto! Im not sure why it is like it is!
I did manage to include window tinting in the NL, and paint protection. They did offer paint chip insurance but my experiance with that is that its a PITA to claim and get the work done. If they used a mobile repairer it would be good.
Meanwhile i also have boxes containing floor mats, window shades, cables, chargers waiting for a car to put them in!
I have installed the 32A wall connector so thats good to go.
It sounds like some places can factor in power, i did see a line item in my quote which said electricity but it was very low $. I went to look back at the details but the online portal scares me a bit, in that it looks like you can make changes, and i dont want to rock the boat.

 

[schnaxxl]

Ditto! Im not sure why it is like it is!
I did manage to include window tinting in the NL, and paint protection. They did offer paint chip insurance but my experiance with that is that its a PITA to claim and get the work done. If they used a mobile repairer it would be good.
Meanwhile i also have boxes containing floor mats, window shades, cables, chargers waiting for a car to put them in!
I have installed the 32A wall connector so thats good to go.
It sounds like some places can factor in power, i did see a line item in my quote which said electricity but it was very low $. I went to look back at the details but the online portal scares me a bit, in that it looks like you can make changes, and i dont want to rock the boat.

one thing I discovered recently - and it's annoying - is that Maxxia don't offer minor scratch cover anymore
I called a number about a scratch on my car and the guy answered by my name, because I'd dealt with them previously with another car
he told me I wasn't covered anymore