Hi Ozbargainers,
Does anyone know which Novated Lease company is offering the admin/management of a salary packaging with finance not provided by them?
We have sourced the finance part from the bank, but almost all the NL companies we called are not willing to do it because the finance is not sourced by them. I understand that employees are allowed to source for their own lease.
Thanks heaps
tried. not budge.
They benefit financially from being involved in the finance side of the deal so cutting that out makes it less worth it for them.
you are right!! big chunk.
Unless it's a small business who does the Novation in house then you're out of luck my friend.
As mentioned above they make money off the lending side so they won't give that up…
Even company that claimed
This finance component is called the Novated Lease. It is very important to understand that every employee SHOULD have the right to source their own competitive Novated Lease.
is not willing to do it.
But you missed the next sentance.
However most providers either don’t advertise this fact or worst still convince the employer to make them the sole provider for both the Novated Lease and the Salary Packaging process. This removes choice and any competitive finance environment.
Ya, maybe I was wrong. I presumed someone willing to write about the ugly part of the industry will do the right thing.
Go with one of them for finance, just make them match what you can get elsewhere
unfortunately every company will match the said rate, but with hidden charges that made the rate 3 times.
try john cadogan as he has this service as well on his site.
Thanks. I will check them out.
Not with them, but I just done a google search and they come up
https://www.fleetcare.com.au/novated-leasing/self-managed