Novated Leases

[SeanyB-BBQ]

My advice through dealing with SG Fleet is... (might be relevant for other fleet companies also)

• Push them hard on the interest rate for the lease payments (They started at just shy of 11% and the lowest I was able to get them to was 8.2%)
• Whilst you cant claim it on the lease, reduce your repayments by not including their ECO Protection Pack (A lot better products out their at a cheaper price when organising it yourself)
• Organise your own Insurance, any reputable Insurance company offer new for old in first 2-3 yrs of ownership - NRMA $1600 / Vero - SG Fleet $3150
• Drop the roadside assistance - Tesla's are covered by their own Roadside assistance
• If you can afford it, dont be afraid to overestimate KM's, Tyres, Charging (Supercharging etc.) - Worst case if you don't use it, you can get it cashed out at your applicable tax rate

With doing the above, I was able to get a MYLR in Solid Black with Enhanced Autopilot whilst a colleague who didn't take notice of any of the above is paying more per month for a MYRWD with similar extras and a longer lease.

Last bit of advice... If you can pick your Novated Lease company and not locked in to a single provider through your Company... Check out NLA and/or shop around... I got them down to 7.1% on the finance and were willing to be even more competitive with their rate, but my Employer has an exclusivity agreement with SG Fleet, so was a no go.

 

[dronus]

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

I have it on my current car but to claim it id have to take the day off and take the car out to 'Lizbeff to get fixed and id probably get shanked.
They did offer it on this M3 lease, but i declined it, not sure why they didnt offer it to you? They offer is in that time frame where you are all excited and they try to add on extra stuff.. haha. I had it on a previous Lease and when i did venture out to get it done (i was working out that side of town) it looked like they just used a pen and drew over the scratch.

 

[Nevyn72]

For those that have been waiting the ATO has finally released the official guide for claiming home charging costs from your Novated Lease provider.

PCG 2024/2 | Legal database

Practical Compliance Guideline

www.ato.gov.au

It's even better as, with appropriate records, you can claim both home charging and retail charging.
In the draft it was either/or, not both.

 

[cafz]

It's even better as, with appropriate records, you can claim both home charging and retail charging.
In the draft it was either/or, not both.

Looks like the way this works is that you take the % of home charging reported in your Tesla app for the year, and apply that to the total kilometres driven to determine the number of kilometres chalked up to home charging (and then apply the 4.2c/km rate to those).

(If you do a lot of free destination charging and not a lot of paid public charging you might end up worse off that way).

 

[jassi]

Just wondering for those who went NL, does it change any of the info you put in account after you placed the order. I am assuming registration info, etc. is your own and not the NL companies. Only place you put NL company details is under payment info, correct? I am still waiting to finalise things with my NL company so have not put their details in payment info yet. I am wondering if the payment info needs to be complete before they allocate you a VIN. I just have the vehicle allocated message, but no VIN yet and the walrus ace arrives in Melbourne in 2 days!

 

[Maximillan]

Just wondering for those who went NL, does it change any of the info you put in account after you placed the order. I am assuming registration info, etc. is your own and not the NL companies. Only place you put NL company details is under payment info, correct? I am still waiting to finalise things with my NL company so have not put their details in payment info yet. I am wondering if the payment info needs to be complete before they allocate you a VIN. I just have the vehicle allocated message, but no VIN yet and the walrus ace arrives in Melbourne in 2 days!

My NL provider was given my order details, they then contacted Tesla to reissue the invoice with the NL's correct details so that they could arrange payment of the car prior to pick up. Once you commit to going with you NL provider, you'll likely need to sort this with them.

 

[elddum]

Just wondering for those who went NL, does it change any of the info you put in account after you placed the order. I am assuming registration info, etc. is your own and not the NL companies. Only place you put NL company details is under payment info, correct? I am still waiting to finalise things with my NL company so have not put their details in payment info yet. I am wondering if the payment info needs to be complete before they allocate you a VIN. I just have the vehicle allocated message, but no VIN yet and the walrus ace arrives in Melbourne in 2 days!

Make sure you have in fact setup from the outset you are financing/leasing. I had mine almost stall as somewhere Tesla had flagged I was paying and not the NL company. This needs to be setup correctly, with the name of the NL company as that is name/address the invoice will be raised to. They then provide you the invoice to pass onto your NL company.

The above did not hold up the VIN allocation for me - that happened a while after I was notified of being on a vessel.

For me, Registration is in your own name.

Payment needs to be squared away at least 2 days before your scheduled delivery (that will typically be a week or so after docking). I'd make sure your leasing company has the invoice to process in plenty of time, as mine took a good few days to process it, and it takes about 48 hours for Tesla to clear AFTER the NL company says it has been paid.

Good luck. You will love it. It will have been worth the wait

 

[jassi]

Good luck. You will love it. It will have been worth the wait

Thanks for all the info! Look forward to it.

One more thing I learnt from NL company today is if you intend to claim any accessories (including the UMC), to order them after lease has begun. Ordering before means they are not eligible to be claimed within lease.

 

[jq371]

Can anyone shed some light on the NL process before taking delivery?

My delivery date has been set for 2 March.

Is there any sort of confirmation usually from NL that everything is set for pick up?

I’d email my NL provider but they rarely reply to emails without 10 follow up emails.

It’s my first time doing a lease and don’t want to turn up to delivery only to find I was supposed to do something else first.

 

[Tesl3on]

Can anyone shed some light on the NL process before taking delivery?

My delivery date has been set for 2 March.

Is there any sort of confirmation usually from NL that everything is set for pick up?

I’d email my NL provider but they rarely reply to emails without 10 follow up emails.

It’s my first time doing a lease and don’t want to turn up to delivery only to find I was supposed to do something else first.

They’re meant to generate contracts for you and your employer to sign before settlement. Definitely let them know your car is due for delivery on March 2nd so this can be done ASAP, as any delays could hinder the delivery process.

 

[jq371]

They’re meant to generate contracts for you and your employer to sign before settlement. Definitely let them know your car is due for delivery on March 2nd so this can be done ASAP, as any delays could hinder the delivery process.

Thankyou. I sent them my delivery date and the contracts have come to me and my employer so im hoping thats all squared away..

I guess I better just email Maxxia and ask if its all good, and hope for a reply lol

 

[Davemcd]

Thankyou. I sent them my delivery date and the contracts have come to me and my employer so im hoping thats all squared away..

I guess I better just email Maxxia and ask if its all good, and hope for a reply lol

Have you sent them an updated invoice from Tesla?
Mine needed that and did not pay until a couple of days out from pickup. Wife lease through another company we had to chase them all the time

 

[jq371]

Have you sent them an updated invoice from Tesla?
Mine needed that and did not pay until a couple of days out from pickup. Wife lease through another company we had to chase them all the time

Oh yeah I did.. im actually on ”final invoice 15” from Tesla and kept sending them new invoices then they’d send me new contracts to sign each time.

I guess im still 10 days out so it might finalize as it gets closer.

Did they send you any confirmation to say the settlement etc was underway or complete?

 

[Kewlspirit]

Oh yeah I did.. im actually on ”final invoice 15” from Tesla and kept sending them new invoices then they’d send me new contracts to sign each time.

I guess im still 10 days out so it might finalize as it gets closer.

Did they send you any confirmation to say the settlement etc was underway or complete?

I went through Maxxia ... second car with them ... I am scheduled to pick mine up on the 06/03/2024 ... sent the final invoice too ... now it is just waiting to the date rolls around ... but they should contact you a few days before you pick up the car or send you an email to say congratulations ...

did anyone choose their own insurance or just went through the NL ... Maxxia is with Allianz and it is very expensive ...

 

[jq371]

I went through Maxxia ... second car with them ... I am scheduled to pick mine up on the 06/03/2024 ... sent the final invoice too ... now it is just waiting to the date rolls around ... but they should contact you a few days before you pick up the car or send you an email to say congratulations ...

did anyone choose their own insurance or just went through the NL ... Maxxia is with Allianz and it is very expensive ...

Oh that’s good to know thankyou

I actually gave them the NRMA quote I got for insurance as it was half the cost of Allianz who they had in my initial quote.

I was also wondering about that.. can I be sure that it’s been set up for the pick up date of my car ..

 

[Davemcd]

Oh yeah I did.. im actually on ”final invoice 15” from Tesla and kept sending them new invoices then they’d send me new contracts to sign each time.

I guess im still 10 days out so it might finalize as it gets closer.

Did they send you any confirmation to say the settlement etc was underway or complete?

Mine was with Custom Fleet had the same person to deal with from start to finish.. So he kept me in loop all the time. Paid a few days beforehand and sent me receipt in case Tesla had problems. I also had a direct phone number for him.

Wife MY was with SGFleet.. Dealt with like 5-6 different people and we kept having to chase them up.
Tesla said no money had gone through 2 days out.
We rang lease company waited to we got someone. Money did not go through to 3pm day before our 10am pickup.
If we did not ring who knows if they done it themselves

So yes I chase up a few days out if I was you.

 

[jq371]

I ended up emailing them to double check, and lucky I did.

They didn’t receive my final signed contracts that I emailed 9 days ago… I resent them today and they have them, but they still have to get my employer to sign before finalising. Hoping it can all get done in 7 days

 

[Davemcd]

I ended up emailing them to double check, and lucky I did.

They didn’t receive my final signed contracts that I emailed 9 days ago… I resent them today and they have them, but they still have to get my employer to sign before finalising. Hoping it can all get done in 7 days

Just keep chasing it up We had to as said

 

[LuisT]

Hi all,
What sort of rates are people being offered for Novated Leases at the moment? I got a quote last week from SGFleet, and the rate was 9.01%. they said that was the best on offer at the moment. Is that about right or should I push a bit harder?

 

[Tygar]

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.

Looking into Novated Lease again after Everything Electric show. Carbon Leasing said the following regarding claiming any charging:
"every quarter you will lodge your ODO reading into your portal once the lease is set up. The Fed Govt. allow 4.20 [cents] per km that you drive to be reimbursed back to you so you can pay charging or even home electricity bills will the reimbursement."
So this figures to about $0.25 per kwh for a M3. However, if you are able to charge on solar, your claim could be more that it theoretically cost.
Yet to check this standard rate with other leasing companies.