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Australian Model 3 Waiting Room

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#38,121
james8 said:
The Tesla order page tells me I need to bring proof of insurance. I left NL company to sort this, do I actually need to get this from them or do Tesla not care? Do you guys take the delivery checklist stuff seriously or has quality improved to where I can be more cursory?
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Just ask for a certificate of currency. Is the insurance they want car insurance or compulsory 3rd party. Insurance is already ticked in my order but in Queensland CTP is part of your rego. I think it is separate in some states.

I'll use a checklist. It is a good prompt to check everything over properly at a time when excited and just wanting to get in and drive.
 
#38,127
Wagits said:
Just wondering for those that have an appointment booked, how flexible have they been with moving dates. I may have to drag mine out by anything from a week to 2 weeks depending on how close to may 11th From edd) they schedule me in
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Seems wildly inconsistent, but I was chatting to a fella in the Tesla owners group who was given one single day pick up option and they told him take it or leave it and forfeit your $400.

The suggested outcome if you can't make the date is "get someone to pick it up for you".
 
#38,129
Hey folks. My NL lease company is asking for a insurance Certificate of Currency for my Tesla before they will settle the transaction. It has to feature the start date of the policy and that should align with my delivery day.

Given I don't have a policy yet or a delivery date, how do I provide this? What have other people done in this situation?
 
#38,131
BTRProducer said:
Hey folks. My NL lease company is asking for a insurance Certificate of Currency for my Tesla before they will settle the transaction. It has to feature the start date of the policy and that should align with my delivery day.

Given I don't have a policy yet or a delivery date, how do I provide this? What have other people done in this situation?
Click to expand...
I used the NL provider's broker. Their cover was as good as and cheaper than anything I could find retail.

It will be the financier that wants it.
 
#38,134
BTRProducer said:
Yeah, but I'm just unsure of how this bit works. How do I get an insurance cover for a car that I don't have yet?
Click to expand...
  1. Find the deal that you're happy with and set the start date for next week - say Friday.
  2. You will probably need to call the call centre to purchase it without a registration plate number - explain that you don't have the car yet so do not have registration, but you do have the VIN and that you need to insure it for the financier to settle.
  3. Send a copy of the certificate of currency to NL company.
  4. Once you get delivery date from Tesla, call insurer and ask to move policy start date to that day (or push back if you don't have delivery date).
 
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#38,135
BTRProducer said:
Hey folks. My NL lease company is asking for a insurance Certificate of Currency for my Tesla before they will settle the transaction. It has to feature the start date of the policy and that should align with my delivery day.

Given I don't have a policy yet or a delivery date, how do I provide this? What have other people done in this situation?
Click to expand...
Is the insurance not part of your lease cost? Part of the paperwork I got today from Macquarie was the insurance application. In my novation agreement, insurance start date is listed under excepted obligations.
 
#38,136
mcv75 said:
  1. Find the deal that you're happy with and set the start date for next week - say Friday.
  2. You will probably need to call the call centre to purchase it without a registration plate number - explain that you don't have the car yet so do not have registration, but you do have the VIN and that you need to insure it for the financier to settle.
  3. Send a copy of the certificate of currency to NL company.
  4. Once you get delivery date from Tesla, call insurer and ask to move policy start date to that day (or push back if you don't have delivery date).
Click to expand...
That sounds awesome. I will do that tomorrow!
 
#38,137
Mugster said:
Is the insurance not part of your lease cost? Part of the paperwork I got today from Macquarie was the insurance application. In my novation agreement, insurance start date is listed under excepted obligations.
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Insurance is a part of my lease cost, but as a reinbursement. They offer to set me up, but I refuse to use their preferred insurer because of a very poor experience in the past.
 
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#38,139
BTRProducer said:
When doing insurance on a Tesla, is it better to go with market or agreed value?
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Owning outright I would say: Does your policy have new car replacement option? While it is covered by that, go with market. Switch to agreed after 2 years or whenever new car cover finishes.

But as it is a NL, if written off it might be that the insurer pays out the loss and the lease is terminated, but I'm not sure. Might be worth a call to the NL company. Agreed might be worth it as you wouldn't want the market value amount being less than the payout cost of the lease. From memory SG Fleet offered another insurance to cover this kind of event.
 
#38,140
mcv75 said:
Owning outright I would say: Does your policy have new car replacement option? While it is covered by that, go with market. Switch to agreed after 2 years or whenever new car cover finishes.

But as it is a NL, if written off it might be that the insurer pays out the loss and the lease is terminated, but I'm not sure. Might be worth a call to the NL company. Agreed might be worth it as you wouldn't want the market value amount being less than the payout cost of the lease. From memory SG Fleet offered another insurance to cover this kind of event.
Click to expand...
Are you referring to Gap insurance?

That's another monthly expense to pay on top.

Usually for NL, when the car is written off, the lease is also terminated. And NL is similar to a fixed loan, usually you would need to pay a termination fee, plus the remaining monthly payment (pre tax $, including principle & interest) as a lump sum payment.

@BTRProducer , if that worries you, I would say go with fixed amount with the highest agreed value that you can get in the first few years.

Put it into perspective, $70k car with $22k residual payment over 5 years.
If the car write off at Month 12, the outstanding payment would be around 80k. If the car is insured for $70k, there's $10k out of pocket required.


FireShot Capture 002 - EV Novated Lease Calculators - Model 3 - Google Sheets - docs.google.com.jpg
 
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