Frequent questions

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Frequently asked questions

What is “all inclusive car finance”?

Salary packaging - also known as salary sacrificing - a car is where you bundle together the finance and running costs of your car into one easy package which comes out of your salary each pay. The benefit to doing this is you save income tax on the running costs of your car which you will have to pay anyway. You also don’t pay tax on the purchase price of the car, saving you more money in the long-term.

Is there a credit check involved?

Yes, finance is subject to approval from our panel of financiers.

Do I need to be employed?

Yes, you need to be an employee paying income tax to unlock the benefits of novated leasing. If you work for any not-for-profit organisations, you can also be eligible.

What are the terms available?

You can lease the car minimum 12 months, and maximum 60 months.

Can I have more than one novated lease?

Yes, you can take out as many as you can afford and save tax with a salary sacrifice on each car in your household.

What happens if I change employer during the term?

You have a few options,
• Transfer your lease to your new employer (subject to employers’ approval).
• Continue to pay the lease and running cost yourself after tax.
• Payout the vehicle and own it outright.

Can I arrange my own comprehensive car insurance policy and roadside assistance?

Yes, you will need to arrange this with your chosen provider and cover the initial premium up front, however you will be reimbursed once we have collected enough pre-tax funds.

What happens if I travel more/less than originally estimated?

The running costs budgeted for in your lease are flexible, meaning you can increase/decrease how much you contribute for your running costs as life changes.

Can I lease a used vehicle?

Yes, it’s up to you to locate the vehicle and negotiate the price. The car can come from a dealership, wholesaler, auction or even private sale. Good to have a pre-approval before you start shopping.

Can I lease my own vehicle?

Yes, this is possible – speak to a consultant to guide you.

Does the vehicle have to be under a certain age or kilometres?

There is no kilometre restriction, but typically the vehicle must be under 8 years old by the end of the lease. This is judged on a case by case basis so check with your leasing specialist.

Is it ok if someone else drives my car?

Yes, anyone can drive your vehicle. If they are a regular driver it’s a good idea to consider having them added to your insurance policy to avoid a higher excess.

Can I make modifications to the car?

Yes, you can, you are free to treat it as your own vehicle. Any major modifications should be reported to the insurance company though.

What happens if I don’t spend all my allocation for fuel, servicing, tyres and registration etc?

Any surplus in your maintenance account is returned to you at the end of the lease.

What happens at the end of a novated lease?

You have a few options depending on the age of the vehicle:

• Salary Package a new vehicle

• Salary Package your current vehicle again*

• Payout the residual/balloon and end the tax savings – own outright.

Can I get an EV with a Novated Lease?

Yes, you can with Easi. You can novate an electric vehicle and save money on expenses such as rego, comp insurance, servicing, tyres, roadside assistance and car washing.

What service stations will accept my fuel card?

The Motorpass card is accepted at all major service stations as well as many of the independents. Each service station does have a right to refuse the card, however this must be advertised by the service station.

Who is my roadside assistance with?

If easifleet have arranged your roadside assistance it will be with ULTRAPLUS who can be contacted on 1800 819 093. Please have your registration number ready to quote.

I would like to make an insurance claim, what do I do?

Please call easifleet on 1300 266 828, we will guide you through the process.

I have fuel receipts that I would like to be reimbursed for, how do I go about this?

You can find an “Expense Reimbursement” form on our website http://www.easifleet.com.au/resources-and-forms/forms/ just follow the instructions on the form.

My car is due for a service, how do I go about arranging it?

Simply have your agent contact easifleet on 1300 266 828 and ask for an “authorisation”. Easifleet will then pay the agent directly.

I am travelling much more kilometres that I initially anticipated, what should I do?

Simply head to our website to complete a “Maintenance Package Adjustment” form:
http://www.easifleet.com.au/resources-and-forms/forms/ just follow the instructions on the form.

Can I salary package just the running costs?

In order to salary package the running costs of your vehicle, you must have a Novated lease, which means your car must be under finance.

Does the vehicle have to be under a certain age of kilometres?

There is no kilometre restriction, but typically the vehicle must be under 8 years old by the end of the lease. This is judged on a case by case basis so check with your leasing specialist.

What are my options when my residual is due?

a) Pay the residual and own the car outright
b) Extend the lease by rolling the residual value over into a new lease
c) Sell or trade in the car in with the dealer supplying your new car, the dealer will then pay your residual for you.

How is the residual calculated? Can I have no residual?

The ATO has set guidelines for minimum residual values. You can only reduce the residual below those guidelines if you are travelling a high number of kilometres each year

Can I lease more than one vehicle?

Absolutely, there is no limit on the number of leases you can have.

Will I or my employer have to pay FBT as a result of the lease?

In most cases 100% of the FBT is offset through the ECM/ post-tax contributions. The only time we don’t is when it’s beneficial for the employee. Ask one of our leasing specialists to advise what the most beneficial option for your situation would be.

What happens at tax time? Does it become more complicated?

Not at all, your group certificate will report your new reduced taxable income, factoring in your salary packaging. You are then able to use the adjusted group certificate to do your tax as normal.

What happens if I don’t spend all of my allocation for fuel, servicing, tyres and registration etc?

Any surplus in your maintenance account is returned to you at the end of the lease.

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