How it works

Whether it is your first ever Novated Lease, or your 10th Novated Lease, PFM will always guide and support you through the entire process from start to finish, ever step of the way.

Consultation

Your Novated Lease Consultant will ask a series of questions to understand how we can best assist you in finding a vehicle and lease structure that fits into your budget.  

We'll provide figures to help estimate the impact on your take home pay and the potential savings associated with the car you have in mind and guide you through the options available. 

You've decided on a vehicle and want to proceed

We'll send you an application for finance pre approval.

Ordering your car

Once the finance pre approval is in place, we will source your vehicle at the best possible price and provide a detailed quote based on the final vehicle pricing. We liaise with the dealership directly and do all of the negotiating and necessary paperwork on your behalf. 

Vehicle delivery

Once your Novated Lease documents are signed off, PFM will arrange payment to the dealership and at this point coordinate a delivery date for your vehicle. 

Once your vehicle is delivered, PFM notify your payroll department by emailing them a Payroll Advice requesting they set up salary deductions and and pay them into your PFM vehicle account, to cover your finance and running costs.

Ongoing vehicle management

Every pay, your employer deducts a set amount to cover the finance and budgeted running costs outlines in the quote.

These funds are sent to PFM and deposited to your PFM vehicle account.

We provide a convenient fuel card (accepted by over 90% of service stations Australia wide) to pay for your fuel purchases, then we pay the fuel card company directly from your PFM vehicle account.

Whenever your vehicle is due for a service, repairs or tyres, simply drop your car off at the repairer of your choice and they will contact PFM for direct payment.  

Every year you will receive your registration and insurance renewal paperwork, which you email to us to pay.

At the end of your Novation, we reconcile your actual expenses against what was deducted form your pay and any unspent funds are returned to you via payroll, or, if your PFM vehicle account is in debit (ie you spent more than budgeted) payroll will take a final deduction from your pay to bring the PFM vehicle account balance back to $0.