Quote:
Originally Posted by Taymaishu
My stats on my quote:
Yearly Sal Sacrifice - 12,836
Lease length: 24 months
Residual: 56.25%
Monthly Lease cost: $1069.83
Car: 125i
Annual KM: 25,000
Included:
CTP & Rego
Fuel Cards (three: Shell, BP, Caltex)
$1200 towards comprehensive insurance
24 Hour roadside assistance
Servicing & Maintenance
2 year warranty (life of lease)
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sounds like a good deal .... but just check a couple of things. I have had 3 novated leases. On a novated lease the yearly salary sacrifice does not just equal 12 * your lease payment. It also includes an additional amount for your running costs (rego, insurance, fuel - hence the fuel cards, tyres etc). $1,200 towards insurance sounds interesting - are you sure it is not just a $1,200 fleet insurance policy (which again you pay for out of your running costs account)? If you miss your km bracket it is a killer as well, so make sure you can do those kilometres!
Sorry if these seem like dumb questions, but from what you have said, to me it looks like the novated lease quote is incomplete.