Entrée – Quote stage & Finance application
For those who want a taste of novated leasing, it’s important to understand the steps in order to get you in the car. Generally speaking, if you have a car ready to go, whether it be your own, from a private seller or even a dealership the process can be extremely fast and hassle free.
To start off we’ll organise a quote for you. We’ll gather details such as the vehicle you’re looking at, your annual km’s travelled, the lease term (1-5 years) and also your annual salary. These details give us the opportunity to track down the exact make and model of the car, calculate the running costs and outline the tax savings you can expect each year. Remember, you don’t pay GST in a novated lease so the savings can be significant! If you’re buying a vehicle from a dealership it is also at this point that we can arrange a test drive should you be looking at a new, dealer used or demonstrator car.
Once you’ve seen the quote and you’re happy with the ongoing out of pocket costs (for the car) each pay cycle, it’s important we have your finance approved. This action is completely your call, our finance application does not bind you to anything, it simply gives us the chance to get you approved so if you do want to go ahead you’ll be in a commanding position to move forward. The ‘finance app’ is a basic document and we collect this along with your three most recent payslips and a copy of your drivers license.
Main course – Finance approval & Purchase order It takes less than 24 hours for your finance to be assessed and approved (or otherwise). In the event that your finance is approved you then place yourself in a very good position. Let’s assume you’re planning to buy your car through a dealership, all we have to do now is organise for a Purchase Order to be signed to secure the car! Our Purchase Order is a one-page document that outlines price and the exact details of what you’re buying. Note: There’s really not a whole lot of muck around in this process, if you’re ready to go we can move pretty quickly. Otherwise, we’ll move at the pace you want to move at. Once the purchase order is signed we then arrange final paperwork for you and your employer to sign in order to arrange settlement. Make sure you get this paperwork back to us as quickly as possible as it is the only thing that can hold up the settlement process. Settlement is simply organising the funds to be paid to the dealership!
Dessert – Settlement & Delivery By this stage your finance is approved, you’ve signed the purchase order and the final documents have been signed by you and your employer. Once we receive these final documents all we have to do from here is upload them so the dealership can be paid. We will work in conjunction with you to make sure the car is picked up when you’re ready. Don’t sweat we won’t make you pick it up at ridiculous times! It’s your call, if a weekend works better let’s lock in a Saturday! Dealers call it “Delivery” which simply means handing over the vehicle to you, whether it be at the dealership or a place of your choice. It is also at this point that we’ll start organising fuel cards and your Glove Box Guide to go out. Our Glove Box guide covers all bases when it comes to your novated lease. Keep it in your glove box!!
All that is left to do now is enjoy driving the car. If you’ve never had a novated lease, perhaps it’s time to find out more, please use our novated leasing calculator to wet the whistle. Happy and safe driving!