Transfer of a novated lease Assigning your lease to a new employer
With a novated lease, you enter into a car finance lease, and then a novation agreement is used to transfer your lease payment obligations to your employer. Once the novation agreement is in place, your employer deducts the regular payment from your salary, and makes the payments on your behalf.
When you change employers, the original novation agreement ceases. The payment obligations fall back on to you as an individual, unless you set up another novation agreement with your existing financier and your new employer.
With a new novation agreement in place, nlc can work with your new employer to package up your finance payments with our car management services into one regular payment deducted from your salary. This allows you to continue enjoying the benefits of a novated lease, with provision for running costs including fuel and tyres, servicing and repairs, registration and insurance.
How it works:
1. Apply to transfer your lease Return the re-novation application, including the mandatory supporting documents (see checklist overleaf), to [email protected]. Please note, this will likely require you to collect documentation from your existing financier.
2. Accept your quote Once nlc has received all the correct documentation, we can confirm eligibility with your employer and then provide you with your quote and an insurance application form, if you choose.
3. Continue to enjoy the benefits We’ll finalise your lease set-up and send your fuel card and online account details. Your employer will start salary deductions from your next available pay.
Important note: Please read your new employer’s novated leasing policy and check your financier allows re-novations prior to applying. nlc can only commence finance payments after receiving your first salary deduction from your employer. Please ensure your payments are up to date with your finance company until your lease deductions commence.
Call us on 1800 652 652 or email [email protected]
V092019 Re-novation Application Your Details
Title: Surname:
Given Name(s): Date of Birth:
Home Address:
Suburb: State: Postcode:
Postal Address (if different from above):
Suburb: State: Postcode:
Email Address:
Mobile Number:
Work Number:
Employment Details
Name of Your New Employer: Pay Frequency: Annual Salary: $
Commencement Date with Employer: Occupation/Job Title:
Previous Employer: Termination Date with Previous Employer:
Vehicle Details
Year: Make: Model:
Body Type: Transmission: Colour: Fuel Type:
Current Odometer Reading: Expected Annual Kilometres:
Tip: You can find the following details on your registration renewal document
Registration Number: Engine Number:
VIN Number:
Finance and Lease Details
Previous Fleet Provider: Name of Financier:
Financier Contract Number:
Lease Start Date: Lease End Date:
Term of Lease: Monthly Rental (GST inc.): $
Residual Value (GST inc.): $
Registration Premium: $ Registration Expiry Date:
Insurance Provider:
Annual Insurance Premium: $ Insurance Expiry Date:
Please attach the following mandatory supporting documents to your application:
Original finance agreement to confirm your monthly finance rental, residual value, lease start/end date and lease term. If you do not have a copy, you can request it from your financier. Vehicle tax invoice so nlc can correctly ascertain the base value of the vehicle for Fringe Benefits Tax (FBT) purposes. If you do not have a copy, you can request it from your financier. New deed of novation from your financier in the correct legal business name of your new employer. If you are not sure of the correct legal name, check with your employer. Insurance certificate of currency (this will need to include the expiry date of the policy and the annual premium cost). Privacy Statement and Consent Form
We collect your personal information to: • provide you with products and services appropriate to your needs; • assess your application for vehicle management services; • provide you with vehicle management services; • communicate with you in relation to your vehicle management services; • carry out day to day operational activities related to the management of your vehicle funding; and • administer your vehicle management services. We will endeavour to only collect your personal information directly from you. However there are certain circumstances where we will be required to collect your information from, and disclose information to, third parties.
We may collect and disclose personal information about you from/to other parties including: • to and from your employer to confirm details of your employment including your salary, position, length of employment and that you are entitled to vehicle management services under the company’s policy, and to administer your vehicle management services; • to and from organisations who may provide vehicle funding to you; and • to and from insurers and insurance underwriters to assess whether to insure risks and to administer any insurance contract (including claims). If you do not supply us with your personal information we may be unable to process your application for vehicle management services.
The types of organisations we may disclose your information to are: • third parties contracted to provide fuel or maintenance services for your vehicle management; • organisations contracted to provide administrative services such as mail service providers. If we collect your personal information, you have the right to request access to your personal information. If you have any questions in relation to our information handling procedures, or you would like to request a copy of our Privacy Policy, or you wish to lodge a request for access to the personal information we hold, please contact us at the following address:
Phone: 1800 652 652 Email: [email protected] Web: nlc.com.au/privacy-policy Address: Privacy Officer, Level 3, 102 Albert Road South Melbourne VIC 3205
Privacy Statement and Requests for Access
This document sets out some important information concerning the collection of information by nlc Pty Ltd (nlc) which is subject to the Commonwealth Privacy Act 1988. If nlc has asked you to provide the personal details of someone else (ie a spouse), please ensure they read this Collection Statement and consent to their details being disclosed to us. Any reference to information means information that identifies you or from which your identity can be reasonably ascertained. Please read this document to assist you to understand why we collected your personal information and how we will use it.
Acknowledgement
We advise that nlc may be entitled to origination fees or commissions. Any commissions received contribute to the administrative expenses we incur in providing these services.
Employee Declaration and Signature
I have read and understood my employer’s salary packaging policy
I acknowledge that my employer has recommended that I seek independent financial and taxation advice prior to proceeding with this application
I have read and understood nlc’s privacy statement and consent
The information I have provided is true and correct
Signature:
Name: Date:
Please send completed application form to [email protected]
nlc Pty Ltd nlc.com.au P 1800 652 652 E [email protected] Locked Bag 4014, South Melbourne VIC 3205 ABN 57 052 442 645
V062020