Terms and conditions

These terms cover the quoting service Prime Salary provides — what a quote is, what it commits either of us to, and what happens next. They sit alongside our terms of use, which cover the website itself.

What we do

We arrange novated leases for employees in Australia. A novated lease is an agreement between you, your employer and a financier: your employer pays for the car and its running costs out of your salary, most of it before income tax is calculated.

We are not the financier and we are not your employer. We arrange the lease and manage it once it is running.

What a quote is

A quote is an estimate of what a particular car would cost you, worked out from the salary and details you gave us and from prices and rates on the day it was produced.

It is not an offer of credit, an approval, or a commitment by anyone to anything. Nothing happens to your pay, and you owe nothing, until you sign a lease and a novation agreement.

How long a quote holds

Six months from the day it was worked out. Every quote carries the date it stops being offered, and after that we will not honour the figures on it — vehicle pricing and finance rates move, and a figure from six months ago is not a figure we can stand behind. Ask us and we will produce a new one.

Whether you are eligible

Two things decide it, and neither is ours alone:

- Your employer has to have a novated leasing arrangement with us, or be willing to put one in place. The deduction runs through their payroll and cannot happen without them. - A financier has to agree to lend to you. That involves a credit assessment, which is theirs to make, not ours.

If either says no, there is no lease. We will tell you either way.

What happens after a quote

If you want to go ahead, we confirm the figures against your employer's actual arrangement, arrange the vehicle and the finance, and prepare the documents. You will see the final figures, and the lease and novation agreements, before you sign anything.

The lease itself is a contract between you and the financier. The novation agreement is between you, your employer and the financier. Their terms govern those arrangements, not these ones.

At the end of the lease

Every novated lease has a residual — a balloon — set as a percentage of the vehicle price by the Australian Taxation Office, depending on the term. At the end you pay it out and keep the car, refinance it, or sell the car and settle it. If it sells for more than the residual, the difference is yours. If it sells for less, the shortfall is yours too.

If you change jobs

The lease goes with you. It is your agreement, not your employer's. If your new employer will not take on the novation, the payments become yours to make directly, and we will help you work out what that looks like.

Your information

We handle it as described in our privacy policy. In short: we collect what a quote needs, we keep it while the quote holds, and we pass it to your employer and to a financier only if you go ahead.

Accuracy of what you tell us

The figures depend on your salary and your employer being right. If either is wrong, the quote is wrong. Please check both — and tell us if anything changes before you sign.

Where we stand

To the extent the law allows, we are not liable for loss arising from a figure in a quote that later changes, from a financier declining, or from an employer declining to novate. Nothing here excludes any right you have under the Australian Consumer Law that cannot be excluded.

Which law applies

These terms are governed by the law of New South Wales, Australia.

Contact

Email contact@primesalary.com.au, or call 02 99998888. If you are calling about a specific quote, have the quote number with you and we will find it straight away.