VE SS modifications (lease)

[Dilan]

Hi guys,

Just asking this on behalf of a mate. He is interested in doing a novated lease on a VE SS. We were wondering whether the lease company would let him do any modifications; CAI and Tune. He also wants to get a set of HSV knock offs on it (do these even exist?). Would this be allowed by the leasing company.

Apparently he hasnt asked the leasing company yet, but what are the general views on this?

[HSVREDSLED]

Hi guys,

Just asking this on behalf of a mate. He is interested in doing a novated lease on a VE SS. We were wondering whether the lease company would let him do any modifications; CAI and Tune. He also wants to get a set of HSV knock offs on it (do these even exist?). Would this be allowed by the leasing company.

Apparently he hasnt asked the leasing company yet, but what are the general views on this?

Generally, the lease company will only allow 'repairs' and not modifications. These should be done at the start of the lease and rolled up into the purchase price.

Sometimes, accidents happen. You may stuff your exhaust by reversing into gutters needing a new one. But OTRCAI and a tune???? Hmmmm...maybe not. Get it done pre delivery of the car and roll it up into the package.

[ls2 crew]

I was told as long as you keep making payments they dont care, about exhaust ect.

[MitchyVYSS]

Yep. Money keeps the world turning. Just wondering its worth outlaying the money out of your own pocket for the mods. Coz as pretty much eveyrone on the forum will tell you, once the mod bug bites, you may as well call it a game lol.
Mitch

[Dilan]

Generally, the lease company will only allow 'repairs' and not modifications. These should be done at the start of the lease and rolled up into the purchase price.

Sometimes, accidents happen. You may stuff your exhaust by reversing into gutters needing a new one. But OTRCAI and a tune???? Hmmmm...maybe not. Get it done pre delivery of the car and roll it up into the package.

Oh no, his not going to get the lease company to pay for it, it is comming out of his pocket. If that is what you mean?

[HSVREDSLED]

technically, they own the car if it all goes pear shape (loss of job etc) so methinks mods are not allowed.

[IronR8]

Yep. Money keeps the world turning. Just wondering its worth outlaying the money out of your own pocket for the mods. Coz as pretty much eveyrone on the forum will tell you, once the mod bug bites, you may as well call it a game lol.
Mitch

So long as your modifications don't make the car un-roadworthy, they really shouldn't care..... nor need to know about them.

If, for example, your mate got some crappy tyres on his aftermarket rims, smashed the car, and insuranced refused to pay due to the crappy tyres (although I've not heard of this happen yet) then he'll be up the creek.

Keep all the original bits, do it all 'right' and it'll be sweet!

[brentonsav]

a novated lease or otherwise is a commitment to repay the finance on the car YOU own.
cant see how the lease company would have to know or care what you do to a car they are not legally responsible for. im sure if there was any implications arising from mods, they'd be quick to pass on the blame anyway but that would be more of an insurance issue to consider. may depend on whether the insurance is bundled?

[zacaxel1975]

technically, they own the car if it all goes pear shape (loss of job etc) so methinks mods are not allowed.

Actually you own the car. If you lose your job you need to pay out the lease including the residual.
I asked the question about mods to the lease company my work lets you salary sacrifice with and was told - go for it, get whatever mods you want (as long as its legal).
The nice consultant also advised I get the mods done pre delivery so they could be included in the lease (salary sacrifice/tax benefit etc) because the lease company would not be able to include them in the lease after the agreement is signed.
But you are welcome to get them afterwards, you just have to pay for them with after tax income.

Probably depends on the lease company.

[KeenGolfer]

Probably depends on the lease company.

Yes, my wagon has had a couple of strokers and a supercharger and it's leased. They don't care as long as it's insured.

[Vulture]

Yes, my wagon has had a couple of strokers and a supercharger and it's leased. They don't care as long as it's insured.

Yep, same here. Why would they care as long as you make the payments and provide them with the residual at the end?

[HSVREDSLED]

Actually you own the car. If you lose your job you need to pay out the lease including the residual.

And if you cant pay...what happens. Doesnt the lease company then have the power to re possess your car? And if this is the case, wouldnt they want to repossess a vehicle that was easy to flog off (as standard as possible)

This was how it was explained to me. But all lease companies seem different.
If they allow it...go for it. :)

[brentonsav]

And if this is the case, wouldnt they want to repossess a vehicle that was easy to flog off (as standard as possible)

they would repossess it for what they can get for your and come find you for the difference. you have an obligation to pay them if that is the case. modded cars that are done well are rarely worth less than a stocker anyway.

if what your saying is right, what about the people with shopping centre damage and other general disregard for their vehicles. imagine trying to offload them??

we have a guy at work who had a vs 5l company ute years back and whenever was bored whilst driving and decided to drive a biro through the armrest. we had two of them actually and come tradein time, they got offered $5k difference by the dealer, the owner is responsible for any difference as the residual is always just a guesstimate of what a car SHOULD be worth and the end of lease.

[Animal]

They don't care as long as it's insured.


And both the lending company and the insurance company 'must' be made aware of the mods.

If there is a claim, and the insurance company decline a claim due to the mods, then the person that is on the lease is responsible.

[ABG]

And both the lending company and the insurance company 'must' be made aware of the mods.

If there is a claim, and the insurance company decline a claim due to the mods, then the person that is on the lease is responsible.

Yep, that's the response I received from my lease company before I commenced my lease. I would suggest your friend gets the lease and insurance company's response in writing prior to proceeding with any mods.

[Animal]

Actually you own the car. If you lose your job you need to pay out the lease including the residual.
I asked the question about mods to the lease company my work lets you salary sacrifice with and was told - go for it, get whatever mods you want (as long as its legal).
The nice consultant also advised I get the mods done pre delivery so they could be included in the lease (salary sacrifice/tax benefit etc) because the lease company would not be able to include them in the lease after the agreement is signed.
But you are welcome to get them afterwards, you just have to pay for them with after tax income.

Probably depends on the lease company.

Actually .. you are wrong.

A lease is exactly what it states, it is a lease, much like rent. You don't own the car, your effectively renting it from the finance company.

IF you lose your job, you do not have to pay out the lease. It depends on the lessors circumstances. If they are able to continue with the repayments, then the lease, as per the contract, will continue.

There is an option at the end of the lease period for the vehicle to be purchased of the leasing company. That is ONLY if the leasing company don't want to sell it off themselves first.

Be very careful offering financial advice on a public forum where legal implications with regards to the actual contractual commitments are unknown.

[lethal66]

Actually you own the car. If you lose your job you need to pay out the lease including the residual.
I asked the question about mods to the lease company my work lets you salary sacrifice with and was told - go for it, get whatever mods you want (as long as its legal).
The nice consultant also advised I get the mods done pre delivery so they could be included in the lease (salary sacrifice/tax benefit etc) because the lease company would not be able to include them in the lease after the agreement is signed.
But you are welcome to get them afterwards, you just have to pay for them with after tax income.

Probably depends on the lease company.

Spot on.I am into my 3rd lease car since i work in the mines (had 1 ss and 2r8 clubsports) U are allowed to do most things prior to picking up the car that way u ony pay half of it and tax man pays other half

[Animal]

Spot on.I am into my 3rd lease car since i work in the mines (had 1 ss and 2r8 clubsports) U are allowed to do most things prior to picking up the car that way u ony pay half of it and tax man pays other half

What lease company would that be, I'm interested to know they allow you to do this ?

[lethal66]

Actually .. you are wrong.

A lease is exactly what it states, it is a lease, much like rent. You don't own the car, your effectively renting it from the finance company.

IF you lose your job, you do not have to pay out the lease. It depends on the lessors circumstances. If they are able to continue with the repayments, then the lease, as per the contract, will continue.

There is an option at the end of the lease period for the vehicle to be purchased of the leasing company. That is ONLY if the leasing company don't want to sell it off themselves first.

Be very careful offering financial advice on a public forum where legal implications with regards to the actual contractual commitments are unknown.
Sorry to say this mate but ur wrong i work for bhp and if ur contract is terminated u have to hand the car back and also pay $100 (hand back fee which i think is a execellent idea)Or u can pay out the residual but U CANNOT continue with the lease.

Leaseplan australia

[Animal]

Sorry to say this mate but ur wrong i work for bhp and if ur contract is terminated u have to hand the car back and also pay $100 (hand back fee which i think is a execellent idea)Or u can pay out the residual but U CANNOT continue with the lease.

Leaseplan australia

The be more specific with what you are saying here. I own my own finance company and do this for a living.

In your case, BHP own the vehicle and allow you as an employee to rent it of them. So if you leave then the car, which I guarantee they own, will stay with them.

Unless a member of this forum actually works for BHP in the same scenario you have described, then it may be the same. Otherwise the they are not able to compare what you do to what they want to do.

Be specific, not generic

Care to tidy up the rest of your comments as well now ?

[lethal66]

Animal what i am saying man is totally correct.
sickss also works for bhp and he world be under the same agreement as i am.
Every yr bhp claims the tax credits on the vehicle u lease.Obvious u no that?

But if you are terminated u have 2 options.1st is pay the residual out ,and 2nd is pay a $100 termination fee.Thats is all.As i stated before u cannot keep the lease going if your terminated.


We can't help it if we are getting a good deal by working for the best company in aus or the world

[Animal]

Animal what i am saying man is totally correct.
sickss also works for bhp and he world be under the same agreement as i am.
Every yr bhp claims the tax credits on the vehicle u lease.Obvious u no that?

But if you are terminated u have 2 options.1st is pay the residual out ,and 2nd is pay a $100 termination fee.Thats is all.As i stated before u cannot keep the lease going if your terminated.

Unfortunatley neither Dilan's ( firt post ) mate, or most of the other guys work for BHP

And for the record, the mods you have your car delivers to BHP by the dealer would be nothing above minor upgrades / optioned up accessories.

The vehicle is lease by you, not owned by you

[Devil CV8]

IF you lose your job, you do not have to pay out the lease. It depends on the lessors circumstances. If they are able to continue with the repayments, then the lease, as per the contract, will continue.
.

If you are talking about a novated lease you are wrong. In a novated lease there are 2 agreements in place, 1 between you and the lease company and another which allows the employer to pay the lease on your behalf. If you leave your job the employer agreement lapses but the agreemnet between you and the lease company is still in effect and you then have to pay the lease payments (in this case out of after tax money) as agreed unless you have another job that will allow you to novate the agreement with them.

With my employer you have an option of novated leasing and my personal favourite operating lease. Operating lease has a smaller range of vehicles (approx 80 odd cars) a fixed 2 or 3 year lease with ALL costs included, no maximum or minimum kms, and if you leave the job you hand the car back with no penalty.

[lethal66]

With my employer you have an option of novated leasing and my personal favourite operating lease. Operating lease has a smaller range of vehicles (approx 80 odd cars) a fixed 2 or 3 year lease with ALL costs included, no maximum or minimum kms, and if you leave the job you hand the car back with no penalty.

Yes bhp uses novated lease through leaseplan australia.Everything is in the contract Insurance,petrol,servicing,tyres etc.But with our contract dev we have to pay a once of $100 fee if we forfeit our lease due to lose of job.The $100 is already built into the contract before you sign.

We also can salary sacrifice our rent and pay our morgage to using tax payers dollars.Dont yar just love working for a big organisation.

[Animal]

If you are talking about a novated lease you are wrong. In a novated lease there are 2 agreements in place, 1 between you and the lease company and another which allows the employer to pay the lease on your behalf. If you leave your job the employer agreement lapses but the agreemnet between you and the lease company is still in effect and you then have to pay the lease payments (in this case out of after tax money) as agreed unless you have another job that will allow you to novate the agreement with them.

With my employer you have an option of novated leasing and my personal favourite operating lease. Operating lease has a smaller range of vehicles (approx 80 odd cars) a fixed 2 or 3 year lease with ALL costs included, no maximum or minimum kms, and if you leave the job you hand the car back with no penalty.

IF I was talking about a novated lease, I would have stated it Devil

Maybey you could go back and re-read some of the posts before enlightening us.

I seem to recall saying something about circumstances.

Then again, teaching blind people blue is always a challenge

[lethal66]

Just to sum it up dilan was asking about novated lease at the start of this thread. The answer is yes you be able to get tune and exhaust at the same time.

I dont no how many times i got to say it.You can get it all done prior to signing the document at dealership to take delivery.That way your only paying half of it anyway.I had my vz done tuned and exhaust.

[zacaxel1975]

Actually .. you are wrong.

A lease is exactly what it states, it is a lease, much like rent. You don't own the car, your effectively renting it from the finance company.

IF you lose your job, you do not have to pay out the lease. It depends on the lessors circumstances. If they are able to continue with the repayments, then the lease, as per the contract, will continue.

There is an option at the end of the lease period for the vehicle to be purchased of the leasing company. That is ONLY if the leasing company don't want to sell it off themselves first.

Be very careful offering financial advice on a public forum where legal implications with regards to the actual contractual commitments are unknown.


The first post quite clearly states it is for a novated lease.
A novated lease allows you to make lease payments towards your motor vehicle and associated operating expenses with pre-tax income, post tax income (ECM) or a combination of both. It is a three-way agreement between you (the employee), the lessor (financier) and your employer.

Why would you pay a residual amount at the end of the lease if you dont get the vehicle or own it?
Be buggered if i am going to pay 45% of the purchase price of the vehicle (after 3 years/35% after 4) at the end of the lease (the residual), just to give them the car back so they can sell it :flipoff:

How can you pay with pre-tax income if a) you new employer will not allow you to salary sacrifice? b) you no longer earn an income?

The employer simply facilitates the payment in pre-tax dollars.
Why do you have to pay the fringe benefits tax (amount dependant on your milage) if you dont own the car?

Where exactly in my post did i offer financial advise????:confused:

You do this for a living/own your own company but dont seem to realise there is a difference between simply leasing a vehicle, and a novated lease/salary sacrifice?

Disclaimer - the above information is offered only as education only and in no way constitutes any sort of financial advice. :)

[Devil CV8]

IF I was talking about a novated lease, I would have stated it Devil

Maybey you could go back and re-read some of the posts before enlightening us.

I seem to recall saying something about circumstances.

Then again, teaching blind people blue is always a challenge

The OP clearly states "novated lease" so maybe you could take your own advice before you revert to attacking people.

[zacaxel1975]

IF I was talking about a novated lease, I would have stated it Devil

Maybey you could go back and re-read some of the posts before enlightening us.

I seem to recall saying something about circumstances.

Then again, teaching blind people blue is always a challenge

Just read the rest of your posts. Gee you are a smartasre as well as a numbnuts:flipoff:


Hi guys,

Just asking this on behalf of a mate. He is interested in doing a novated lease on a VE SS.

Maybe you should learn to read before posting such drivel and having a go at people:) or enlightening us as you put it.

Any chance of letting us know the name of your company? Just dont want to try and set up a novated lease for a car with you, and end up leaving with a hire purchase on a motorbike:rofl:

[Glenn@G&D]

Hi guys,

Just asking this on behalf of a mate. He is interested in doing a novated lease on a VE SS. We were wondering whether the lease company would let him do any modifications; CAI and Tune. He also wants to get a set of HSV knock offs on it (do these even exist?). Would this be allowed by the leasing company.

Apparently he hasnt asked the leasing company yet, but what are the general views on this?We perform modifications for a couple of select dealers during the pre delivery process. The modifications are added to the overall vehicle purchase price & consumed within the lease arrangement.

Regards Glenn

[lethal66]

Just read the rest of your posts. Gee you are a smartasre as well as a numbnuts:flipoff:



Maybe you should learn to read before posting such drivel and having a go at people:) or enlightening us as you put it.

Any chance of letting us know the name of your company? Just dont want to try and set up a novated lease for a car with you, and end up leaving with a hire purchase on a motorbike:rofl:

ROLF

What a pisser!!!!!!!I would say he has been shot down and burnt

[Animal]

ROLF

What a pisser!!!!!!!I would say he has been shot down and burnt

Is that so ?

Do you really want me to ?


We perform modifications for a couple of select dealers during the pre delivery process. The modifications are added to the overall vehicle purchase price & consumed within the lease arrangement.

Regards Glenn

Please qualify the mods then Glen, edit / exhaust ?


The first post quite clearly states it is for a novated lease.
A novated lease allows you to make lease payments towards your motor vehicle and associated operating expenses with pre-tax income, post tax income (ECM) or a combination of both. It is a three-way agreement between you (the employee), the lessor (financier) and your employer.

Why would you pay a residual amount at the end of the lease if you dont get the vehicle or own it?
Be buggered if i am going to pay 45% of the purchase price of the vehicle (after 3 years/35% after 4) at the end of the lease (the residual), just to give them the car back so they can sell it :flipoff:

How can you pay with pre-tax income if a) you new employer will not allow you to salary sacrifice? b) you no longer earn an income?

The employer simply facilitates the payment in pre-tax dollars.
Why do you have to pay the fringe benefits tax (amount dependant on your milage) if you dont own the car?

Where exactly in my post did i offer financial advise????:confused:

You do this for a living/own your own company but dont seem to realise there is a difference between simply leasing a vehicle, and a novated lease/salary sacrifice?

Disclaimer - the above information is offered only as education only and in no way constitutes any sort of financial advice. :)

The biggest issue is that clever dicks like yourself cause some guys getting cars to get into insurance troubles.

[zacaxel1975]

The biggest issue is that clever dicks like yourself cause some guys getting cars to get into insurance troubles.


There was no mention of insurance in the OP? Only a question about mods and a novated lease.

How could what I posted, in any reasonable persons opinion possibly 'cause some guys to get into insurance troubles'?

You fired up a bit too early telling people they were wrong and you run the industry/own the world or some crap when actually you were wrong. Looked like a right royal goose doing it too.:)

[LargeRice]

For what it's worth on my 2 novated leases i was allowed to modify the car with no problems. Insurance wasn't a problem as long as the items were listed on the invoice. Several guys had aftermarket wheels, suspension and exhaust mods on their commodores.

[Lokky]

I only got a minor mod, but didn't have any problems.

I got the exhaust changed out to a twin 2.5", but retained the standard cats and kept the rear resonator.

The windows were also tinted to the darkest legal colour.

I don't think that lease company's mind too much unless the warranty could be voided on new cars. Things like edits, induction turbos etc could be a problem with either the insurance company or the lease company.

Get your mate to check with the company and get their position - if he does get some work done, ensure that the insurance company has it listed on the policy to save big headaches later.