Novated Leasing further information
- Custom Fleet Vehicle Salary Packaging Program
- Product Description & Novated Lease Options
- Custom Fleet Novated Lease Financing Options
- General Information - Redundancy Plan
- General Information - Vehicle Options
- General Information - Comprehensive Vehicle Insurance
- General Information - Maintenance
- General Information - Fuel
- General Information - Registration
- General Information - Roadside Assistance
- General Information - Accident Management
- General Information - Fringe Benefits Tax
- General Information - Cost To Package Quote
- Benefits
- Further Information
Custom Fleet Vehicle Salary Packaging Program
With over twenty five years experience in the Financial - Fleet Leasing and Fleet Management industry, Custom Fleet is happy to pass on that expertise to you. Taking into account any provisions stipulated in your company motor vehicle policy, we can provide you with the advice and administrative support that best suits your needs. Our significant buying power ensures that we can offer you competitive packages on both new and second hand motor vehicles.
There are many benefits to financing a motor vehicle as part of a Vehicle Salary Packaging arrangement. The key feature of our program is our Novated Lease.
Custom Fleet can provide you with a cost-effective way for you to drive the vehicle of your choice.
Custom Fleet will provide you with a dedicated Vehicle Salary Packaging Consultant to assist you through every step of the process from your initial vehicle choice, cost to package, credit application and execution of the legal documents.
If you would like to know more about Vehicle Salary Packaging and how it could benefit you, please refer to the Custom Fleet website at www.customfleet.com.au. Alternatively, if you are already familiar with the service, please refer to our short cuts below.
General Information - Product Description & Novated Lease Options
What is a Novated Lease?
A Novated Lease is a three-way agreement between the employee, the employer and Custom Fleet, the basic principles of a Custom Fleet Novated Lease are:
- The employee leases the vehicle directly from Custom Fleet.
- The employee, employer and Custom Fleet sign a Novation Agreement.
- The employer undertakes to cover all agreed vehicle expenses during the employee's term of employment.
Custom Fleet Novated Lease Financing Options
Regardless of the financing option you select the calculation of the 'rental' amount of your lease is determined by the term you select and the number of kilometres you travel per annum.
Fully Maintained Operating Lease
This is the most popular type of lease to be included in a vehicle salary package. Custom Fleet's Fully Maintained Operating Lease provides risk free motoring while minimising the cost to your salary package.
Custom Fleet's Fully Maintained Operating Lease includes all vehicle expenses excluding fuel. As the 'owner' of the vehicle in this leasing arrangement, Custom Fleet takes care of all vehicle maintenance.
Benefits
- Allows you to benefit from Custom Fleet's purchasing power and management expertise to minimise the 'cost to package' of your chosen vehicle.
- Custom Fleet manages the risks associated with excessive maintenance costs.
- At lease end you simply return the vehicle to Custom Fleet and take delivery of your new vehicle. You have no residual risk.
- A Fuel & Oil Card is included for fuel purchases.
- You can also make an offer to purchase the vehicle at lease end.
Fully Maintained Finance Lease
Like our Fully Maintained Operating Lease, Custom Fleet's Fully Maintained Finance Lease offers you risk free motoring while minimising the cost of your package.
Offering similar features, the Fully Maintained Finance Lease includes virtually all other vehicle expenses except fuel, ensuring cost effective vehicle maintenance.
Unlike our Fully Maintained Operating Lease, Custom Fleet's Fully Maintained Finance Lease requires that the employee be responsible for determining the residual value and for meeting the residual value liability (plus GST) at lease e
Benefits
- It allows you to benefit from Custom Fleet's purchasing power and management expertise to minimise the 'cost to package' of their chosen vehicle
- Custom Fleet manages the risks associated with excessive maintenance costs.
Custom Fleet recommends adoption of Australian Tax Office's Guidelines for "minimum residual values" to all employees who are considering this leasing option.
Budgeted Maintained Finance Lease
A budgeted maintained leasing arrangement requires that you be responsible for all service, maintenance and other costs. These costs are captured through the use of our Fleet Card facility.
Benefits
All other features of our Budgeted Maintained Finance Lease are the same as those offered in Custom Fleet's Fully Maintained Finance Lease. As such, the benefits of this lease include:
- It allows you to benefit from Custom Fleet's purchasing power and management expertise to minimise the 'cost to package' of their chosen vehicle.
General Information - Redundancy Plan
A standard feature of all Custom Fleet leases is the Peace of Mind Plan.
General Information - Vehicle Options
Our extensive experience is your greatest advantage
New Vehicles
One of the largest Fleet Management companies in Australia, Custom Fleet has a comprehensive national network of Key Supplier Franchised Dealerships. Our market leadership ensures that our packages are competitively priced and furnished by a consistent supply of new motor vehicles.
Benefits of securing your new vehicle through Custom Fleet
- All discounts and benefits secured by us are passed directly on to you, including negotiated rates above the manufacturer's fleet discounts and bonuses that are available from time to time.
- Our buying power ensures that our prices are competitive and that our vehicle supply is both consistent and accurate.
- We have a national network of Key Supplier Franchised Dealerships.
- We will provide you with prompt information, advice and support with regard to vehicle sourcing and pricing.
Second Hand Vehicles
Custom Fleet has an extensive supply of vehicles available for re-lease via our Novated facility. As Custom Fleet is fully aware of the historical maintenance on these vehicles, we are confident in offering these vehicles to you as suitable alternative to a new vehicle. Custom Fleet will re-lease these vehicles on a Fully Maintained operating or finance lease basis to a maximum age of five years from the original purchase date.
Second hand vehicles sourced through a Licensed Motor Dealer can only be offered with a non- - maintained finance lease facility. Generally the vehicle must be less than 5 years old at the end of the lease. (There are exceptions for 'special' vehicles'). The vehicle must be currently registered and be able to pass a 'Vehicle Inspection.
Key Points:
- Second Hand Vehicles attract lower FBT calculations
- Reduced purchase cost can enable the employee to package an upgraded vehicle
- Second hand vehicles from Custom Fleet on a fully maintained basis.
- Second Hand Vehicles sourced through suppliers other than Custom Fleet can only be offered with a non-maintained finance lease facility.
General Information - Comprehensive Vehicle Insurance
All vehicles leased by Custom Fleet must be comprehensively insured. Accordingly, your comprehensive insurance can be structured in three ways:
1. Custom Fleet Plan
Custom Fleet's insurance program contains the following key features:
- A $500.00 excess will apply on each claim (conditions apply). In addition, age excess will also apply (under age excess for drivers under 25 years of age)
- Vehicles with a value in excess of $90,000 are priced on application.
- Certain high performance vehicles are not subject to standard rates and will require special rates and conditions, including the Subaru WRX, the Holden HSV and SS models.
2. Employer's Own Plan
Your company may allow you to access it's own Motor Vehicle Insurance Policy. If so, you must supply Custom Fleet with a Certificate of Currency and advise us of the appropriate monthly amount to be costed into your package.
3. Employee Sourced Insurance
If you wish to source your own Comprehensive Insurance, you must provide Custom Fleet with the amount of your annual premium and your policy details. The annual premium will be reimbursed and allocated against your package.
General Information - Maintenance
Taking care of all your vehicle and fleet needs
Fully Maintained Custom Fleet Leases.
Custom Fleet's quality standards will ensure that your vehicle receives first class treatment when maintenance is required. Through our extensive national network of Key Supplier Franchised Dealerships and specialist service providers, Custom Fleet will keep the vehicle in peak running condition.
Maintenance Items Included in our Program
- All manufacturers' scheduled services.
- All manufacturer's non-scheduled repairs, including brakes, battery replacement, all mechanical drive-train and automatic transmission repairs, electrical faults, exhausts and mufflers, wheel alignments, etc.
- A nominated number of replacement tyres, as determined by the number of kilometres to be travelled.
Budgeted Maintained Leases
Employees with vehicles that do not have maintenance included in their lease will be supplied with a Fleet Card, which allows for the purchase of fuel, services, maintenance and tyres.
General Information - Fuel
Custom Fleet makes keeping track of your fuel expenses easy
Keeping track of fuel expenses is made easy with Custom Fleet's "Fleet Card". An important feature of every packaged vehicle, the multi-branded Fleet Card is the most widely accepted card in Australia and can be used at over 6,000 service stations nationwide.
Fleet Card
Custom Fleet provides two "Fleet Card's":
Fuel and Oil Card
For vehicles that are "Fully Maintained" a Fuel and Oil Card is issued as there is no necessity for non-fuel purchases as they are covered in the Maintenance Program. Fuel is available through multi-branded outlets, with discounted fuel pricing available at all Shell outlets.
Fleet Card
May be used with Non Maintained Novated Finance Lease
Covering all vehicle-related expenses, this card allows the purchases of such items as fuel, oil, services, maintenance, tyres and all other related vehicle expenses. Fuel is available through multi-branded outlets, with discounted fuel pricing available at all Shell outlets.
General Information - Registration
All Custom Fleet funded salary packaged vehicles include the cost of both the initial registration and all subsequent renewals for the period of the lease. Vehicles packaged via an Operating Lease are registered in the name of Custom Fleet.
Finance Lease's are registered in your name using Custom Fleet's address enabling all administration and registration renewals to be managed by Custom Fleet.
General Information - Roadside Assistance
Custom Fleet offers you peace of mind with roadside assistance any time, anywhere.
If your vehicle is not covered automatically by an existing roadside assistance scheme through the Vehicle Manufacturer, then Custom Fleet's Vehicle Salary Packaging program offers you support through our own Roadside Assistance Scheme.
Benefits
- The convenience of 24 hour/365 day coverage
- An Australia-wide service (provided by the respective State Motoring Clubs)
- Roadside/driveway emergency repairs
- Towing to the nearest available repairer is free for the first 20 kilometres
Should you wish to continue your existing roadside service you can do so and seek reimbursement from Custom Fleet.
General Information - Accident Management
A complete Accident and Claims Management Service is included in all Custom Fleet Novated leases. Providing comprehensive assistance in the event of a motor vehicle accident, this service operates throughout Australia.
Benefits
- The convenience of our toll-free Accident Assistance Hotline 24 hours a day, seven days a week.
- Free pick-up and delivery Australia-wide.
- Claims quickly and efficiently processed with direct liaison with driver.
- Superior quality repairs.
- All repair work is fully guaranteed.
- Temporary replacement cars are available at an agreed daily rate.
- 3rd party at fault recovery service.
General Information - Fringe Benefits Tax
Custom Fleet keeps you informed on FBT
Fringe Benefits Tax is payable by your employer on the value of certain fringe benefits that have been provided to you the employee. The supply of a motor vehicle to an employee would generally attract an FBT liability. Custom Fleet has put in place key processes to make FBT reporting easier.
Custom Fleet's FBT Assistance
Custom Fleet provides the following tools to assist you with FBT calculation and reporting:
- Our "Cost to Package" quote includes confirmation of the relevant monthly FBT liability for your selected motor vehicle.
- Our Monthly Vehicle Report (sent to the employee) and our Monthly Summary Report (sent to the employer) will also indicate the FBT amount for both the Period (month) and the 'Package Life to Date'.
- An Annual FBT Report can be provided to assist employers with their FBT year-end liability and reconciliation process.
- In the event that a package is terminated, Custom Fleet will provide your employer with Estimate FBT Reconciliation. This reconciliation will detail the amount of FBT that we understand as being deducted from your salary, against the actual liability calculated at the termination date.
General Information - Cost to Package Quote
Custom Fleet can provide you with a quote for the lease amount and an estimate of pre tax salary that you will have to set aside from your package to obtain your desired vehicle. "The Cost to Package" will include costs such as the purchase price of the vehicle and accessories and depending on the type of lease, estimations of vehicle running costs such as fuel, repairs, insurance and FBT.
If you have a specific vehicle in mind, Custom Fleet can provide a quote for the lease rental and an estimate of the pre-tax salary you will have to set aside from your salary package. This Cost to Package quote will include such costs as the purchase price of the vehicle and accessories and, depending on the type of lease, estimations of your vehicle running costs (eg fuel, repairs, insurance and FBT).
Should you wish to obtain a Cost to Package quote, you can do so through Custom Fleet’s unique private web site. . The private Custom Fleet website is accessed through the public site www.customfleet.com.au and selecting “Client Login” – “Salary Packaging Login” and clicking onto the New User button if you do not have a Login ID already. Your University of Melbourne e-mail address should be used when completing the necessary details.
Benefits
Now you can afford to drive your dream.
Custom Fleet's comprehensive Vehicle Salary Packaging services deliver considerable benefits to both employers and employees. Financing a motor vehicle as part of a salary packaging arrangement may provide you with a cost-effective way to obtain the vehicle of your choice. Custom Fleet is happy to assist you by providing advice and support through each stage of the process.
Benefits to Employees:
- Access to a superior corporate level of discount across all areas of motor vehicles/leasing, reflecting the status of your company.
- Access to Fully Maintained second hand vehicles (via our Disposal yards) with lower rentals and lower FBT liability - further adding to the attraction of your packaging benefits.
- Access to competitive funding rates.
- Satisfaction as you get the car you want.
- 'Peace of Mind' Plan.
- Monthly Vehicle Reports that provide timely information on how the your vehicle is tracking to the program.
- The lease is portable and may be taken from employer to employer.