What if I spend more or less than I budgeted?
During your novated lease
If you have spent MORE than budgeted…
We will contact you to discuss increasing your regular payments to ensure you can cover the higher amount. You should also monitor your online statements regularly and contact us if you notice your budget is being overspent. Then we can adjust your deductions even sooner.
If you have spent LESS than you budgeted…
At the end of your lease term we will reconcile your account within 60 days. If there is money in your account, we will send the funds to your employer. Your employer will then deduct income tax and pass the remaining balance back to you.
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.