Learn more about how we help you drive success with your small business clients.
- What does novated leasing with NovateMyCar cost you?
NovateMyCar Novated Leasing charges a one-off fee per car payable by the dealership. This fee is charged to the dealership based on two options:
- Remunerator will charge a one-off fee of $500 plus GST to the dealership.
- Should NMC source the novated lease finance, NMC will share the commission earned on the finance evenly with your dealership.
In addition to this one-off fee, there will be a monthly management fee payable by the customer which will be incorporated into their salary package.
- Does NovateMyCar affect your commissions?
NovateMyCar does not affect your commissions with your existing financiers.
That is, when you source the finance for the novated lease, your earn should be as per the existing arrangements with your financier.
- Will NovateMyCar affect your volume bonuses with financiers?
No, when you source the finance for the novated lease, the dealerships volume bonus earn should be as per your existing arrangement with your financiers.
- Can you use your own financier?
Yes, you are welcome to use your financier of choice. Alternatively, NovateMyCar is able to organise finance should you require it.
- Who manages the novated lease?
All management of the novated lease is powered by Remunerator.
- What is the process of signing up a new customer?
A step-by-step user guide will be provided to you detailing the process of signing up a new customer.
- Is there a minimum to the number of employees a new organisation must have?
No, there is no minimum number of employees required. All organisations regardless of their size can benefit from NovateMyCar Novated Leasing!
- What is the turn around time of signing up a new customer?
The main benefit of the NovateMyCar program is the significantly reduced waiting times due to there being no pre-approval process or requirement of a client contract.
The lease is operational as soon as the customer can have their employer agree, sign the Deed of Novation and provide their bank details.
This means it can be while the customer is in the showroom!
- What happens at the end of the lease?
At the end of the customer’s novated lease, NovateMyCar has a keen desire to continue to the relationship with the customer.
The dealership will be given every practical opportunity to keep the customer.
So, if the finance of the novated lease was sourced by your dealership, you should be advised that the lease is approaching expiry by your financier, usually 6 months prior.
Your dealership will have up to two months prior to the end of the lease to commit the employee to either refinance or another novated lease for a new car.
Within two months of lease expiry, if the dealership has not contacted the customer, NovateMyCar will contact them directly.
Under these circumstances, should the customer choose to refinance, NovateMyCar will retain all commission earned. Should the customer choose to finance a new car, NovateMyCar will retain 2/3 of the commission and the dealership will receive 1/3.
- What ongoing support will you experience?
NovateMyCar will provide comprehensive training and support to your dealership, enabling them to easily understand and promote novated leasing.
Your dealership will be given access to an online portal that enables you to manage the flow of documents and salary package application.
NovateMyCar will provide all marketing and communication support to you, allowing you to easily sell Novated Leasing.
You will also have a dedicated Remunerator contact to assist you with any further inquiries that arise.