Innovated Leasing Australia

Terrible – Used them some years ago, absolutely horrible experience. One day I noticed the numbers in my account doesn't add up so I asked them about it then he claimed he can't see anything wrong from his end. It took 6 months to get solid evidence that he's ripping off me from there. When confronted, he quickly updated my account with all the money he stole and says it was a simple mistake.

I didn't even get the full refund as he claimed some 'special admin fee' for some items which never mentioned anyone.

Avoid this guts like a plague.

Terrible, poor service, poor communication, none of the financial numbers add up in your favour – I have a novated lease on a car. The only benefit was that they negotiated a deal with the dealership and I think I got a pretty good price on the vehicle at the start. However they refuse to authorise a service when my balance is negative? But would always have been negative as I'm in a lease? And for me to claim through reimbursements - a fee is charged and would be using my post tax income to pay for the service without saving on gst. Which ends up costing more and negates the point of tax saving benefits from having the lease.

They also do not tell you explicitly the cost of Admin fees and employer deductions and the balance at the end - ends up costing you more. But is not something that you can calculate upfront or easily calculate the total cost of until the end of the lease.

They are also not transparent with the in and out statements. And can't actually provide a document for my accountant to investigate the total in vs out of the lease.

Buyer beware, expect to overpay and end up end debt – You never end up making money on a novated lease. Every lease I had the balloon pay out at the end spiralled out of control and ended up not worth the time and effort. The pro is that you don't need to worry about monthly fuel/maintenance costs, however you do pay for it when the lease expires losing money. Also beware as they don't keep accurate records and you might even end up with the debt passed to a collector as they wash their hands, this is after the costs blow out, even years later.