The monthly payments include all regular management and administration charges. There is a once off Setup Fee of $550 including GST which can be reduced to just $220 as part of our referral program. Furthermore, because it is invoiced to you as the Employer and deducted tax effectively, this fee can end up costing less than $110 from the Employee’s take-home pay.
Tax invoices will be issued at the beginning of each month for all vehicles, with payments direct debited from the bank account you nominate in advance on the 20th of each month or the nearest business day thereafter. All payments will be for whole months and are not subject to pro rata treatment.
Please note that it is necessary to deduct two payments from the Employee’s payroll in the first month after delivery, to be up to date with the "monthly in advance" payment terms. Only one payment per month will be deducted from then on. Be assured that if an Employee is on a 36 month lease for example, they will only ever make 36 payments over the term of their lease. If they leave, the Novation Agreement is terminated and reverts to a normal Finance Lease between the Employee and the Financier. The repayments will then be direct debited from the Employee’s bank account on the 20th of each month or the nearest business day thereafter.
Please notify us as soon as possible as we use these details to contact you regularly as part of the program and for specific matters that may arise from time to time.
You can have as many Authorised Signatories set up to approve Novated leases as you would like. This can be useful when one Authorised Signatory is away, then Employees will still be able to set up a Novated lease in a timely manner.
Yes, provided it is not more than 8 years old.
Yes, they are sold to the finance company and leased back to you under their novated lease agreement
Yes, they can either be refinanced with the asset sold to a new finance company that provides a novated lease to you or a novated lease can be overlaid on top of the existing lease.
This is subject to the employer's guidelines, but the number is unlimited.
Between 18 and 60 months. Most commonly 48 months (4 years).
We will take care of that for you.