What to look for in a novated lease company

Reading through the many benefits of novated leases might conjure up images of the dodgy loan provider with a pen and contract in hand. As with everything, a service is only as good as the company you’re dealing with, so here are our tips for finding the best novated lease company in Australia.

Education before acquisition

A good novated lease company will understand that the product is a little complicated and a lot unknown. Most people might say, “What the heck is a novated lease?”. So if you chat to providers and they’re leaving you feeling confused or telling you to just trust them, vote with your feet. You should understand what you’re getting into and a good provider will answer questions, provide plenty of objective info and make you feel confident in your decision.

Professional tailoring

The right provider will try to understand your situation in detail – if you feel like you haven’t had much chance to talk through your circumstances or what you want (and don’t want), chances are you’re getting a product off the shelf, which probably won’t suit you and certainly isn’t bespoke. You’re not a cookie, so step away from the cookie cutter. A good novated lease company will ask you heaps of questions, chat through options and try to not only find the right product but also explore the little details that can save you extra. 

Keeping you in the loop

If you’re chatting with a provider and most of the conversation is geared towards you signing on the dotted line, rather than helping you to understand the service and onboarding process, chances are you won’t get much help once the lease is underway. If you feel like a conversion on their sales tally, you probably are one. So look for a provider who not only guides you through the sign up process but also is transparent and clear about how the lease will run and your options after. Novated leases can be incredibly handy to cut costs and make running a car much less stressful, but having a company who’s on your side can make the world of difference.