1.1) The estimates provided on a Flare Cars quote are valid until the final business day of the current month. Should there be a change after this date and prior to settlement to manufacturer pricing discounts available, government statutory charges or interest rates, you may be required to sign a new Flare Cars quote incorporating these changes
1.2) All figures on a Flare Cars quote are based on a full FBT year (1st April – 31st March). Flare may make alterations to your deductions based on settlement date and number of available payroll cycles available to collect funds within your lease contract period
1.3) Calculations on a Flare Cars quotation are provided as a guide to tax savings only and all information provided is general in nature. As such, Flare Cars strongly recommends seeking independent financial advice to take into consideration your own personal financial circumstances before entering into any lease arrangement.
1.4) Calculations on the quote do not take into account any additional salary packaging arrangements or deductions from your pre-tax income (eg HECS, additional super) currently processed through your payroll.
1.5) The residual value of your lease is calculated using Australian Tax Office guidelines dependent upon the length of the lease you have chosen
1.6) Cancellation of this lease quote does not negate any additional contractual obligations as part of a vehicle purchase with a new or used car dealer where you have entered into a 3rd party agreement to purchase a vehicle. Dealers may charge you a cancellation fee based on the applicable state laws per 3.1 below
2.1) The amount financed may include a Origination fee and may include a brokerage amount paid to Spark Leasing Pty Ltd by the financier. The financier may also charge an establishment fee which is retained by them as part of the finance settlement.
2.2) Your finance is designed to be a fixed term contract. Early settlement of the finance will require you to pay all outstanding lease rental payments including your residual amount to the financier. In addition the financier may charge an early termination fee
2.3) Payments to the financier are deferred until 2 months after your lease settlement date although we take deductions for your lease budgets from the next available payroll date post-settlement
2.4) Where your lease or novation between the financier and your employer ceases, you agree to make finance payments directly to the financier by direct debit, unless you are paying out the full amount
2.5) Where the financier increases or decreases rates after your signed quote date, the new rate will be applied to your lease calculations prior to issuing of finance documentation and settlement
3.1) Once a vehicle order is placed either by customer, or Flare HR through a car buying partner, cancellation based on changes listed in point 1.1 may incur a cancellation fee by the dealer
3.2) Flare may engage with 3rd parties for the provision of car procurement services
3.3) You will be provided with an estimated delivery date when proceeding with a new vehicle order through Flare Cars. In the event that a vehicle s delayed, either by the dealer or the manufacturer, Flare will endeavour to locate you an alternative option however we will bare no cost for any delays outside of our control
4.1) When the amount received from your salary is less than the payments Flare Cars must make on your behalf to third parties, some of the payments to those third parties will remain outstanding until Flare Cars receives further payments from your salary
4.2) Your employer agrees to set up deductions from your payroll in line with the payroll advice provided to them upon settlement and lease setup until such time as Flare notifies them to cease
4.3) You acknowledge that your employer will pay invoiced or otherwise agreed amounts that are part of your salary package arrangements into a Leasing Account created and held on Flare Cars’ system
4.4) Money held in the Lease Account will not ordinarily accrue any interest. Any accrued interest will be retained by Flare Cars.
4.5) If at any time a payment or payments is/are not received due to a payroll deduction not occurring (e.g. leave without pay), Flare Cars will recalculate your pre and post tax deductions to bring the required total deductions back into expected parameters
4.6) You are not allowed to request nor instruct your employer to amend or cease deductions from the amounts approved and instructed by Flare
4.7) You expressly agree to a proportion of your salary being withheld by your employer and paid to Flare for the provision of salary packaging arrangements and payment of expenses as detailed on your lease quote
4.8) If at any time the Fund has a debit balance or is expected to have a debit balance, you agree to enter into a revised package summary and lease quote with revised deductions either for the remainder of the lease term or over a period which will bring your balance back into a net positive position.
4.9) Despite clause 4.8, in the event that at the end of the lease term the Fund has insufficient balance to pay outstanding lease payments or other expenses or deductions you agree that you may be responsible for payment of these amounts.
5.1) Running cost budgets are estimates only based on the type of vehicle you have chosen and the estimated kilometres per year you have provided. You are responsible for actual costs, and should these costs exceed budgets a recalculation of your annual allocation will be made to ensure your account remains cash positive
5.2) Where your overall or individual running cost balance is in a negative position, you authorise Flare to recalculate deductions to being your balance into net positive ongoing and to contact your employer regarding deduction changes
5.3) Where deductions are too high and you have a high ongoing lease balance outside of anticipated running costs, you can request a reimbursement of funds through payroll and request Flare reduce future deductions in line with actual spend. You authorise Flare to contact your employer to reduce deductions on your pay cycle
5.4) Your running cost budgets will not reflect deductions from your payroll until Flare have received monies from your employer according to their agreed payment schedule
6.1) Where you send a claim for reimbursement of expenses, supporting documentation must include a legitimate tax invoice clearly itemising the expense and showing as paid. You must keep a copy of the claim you submit and any supporting documents. Claims without correct supporting documentation will be rejected
6.2) Where you lodge a claim for reimbursement, this claim will be prioritised for payment after payments to third party suppliers have been made, and will be paid as and when all other expenses payable in respect of your Novated Lease do not exceed the funds that have been received by Flare Cars. As such, you may have to wait a period of time for funds to accumulate in your balance before Flare will reimburse you
6.3) You must immediately notify Flare Cars of any changes to your bank account or personal details
6.4) Claims for reimbursement will only be made when it is a valid claim allowed by the ATO and for vehicle expenses incurred for your leased vehicle only. You must also have sufficient funds in your budget for that claim to cover the reimbursement
6.5) Claims for reimbursement can only be made once we have received funds from your employer
6.6) Claims for reimbursement when you have a negative balance will be rejected until such time as your deductions have been amended and your budget balance in a net positive position
6.7) Claims for reimbursement of comprehensive insurance will only be paid out when you have accumulated sufficient funds in your insurance budget to cover the claim. You acknowledge that this may delay reimbursement of your insurance cost until 12 months after the lease commencement date
7.1) Where a lease ends during the FBT year contributions are prorated for the number of days held in that FBT year and an additional post tax contribution may be required prior to cessation to neutralise any FBT liability
7.2) Any surplus monies in your account at lease end are paid back to you through payroll as taxable income
7.3) It is your responsibility to notify Flare if you are leaving your employer prior to your final payroll so your salary packaging account can be terminated and reconciled. When you lease your employer or your lease ends for any other reason you must stop using the Fleet Card and dispose of it in a secure manner. You will be personally responsible to pay any amount incurred on the Fleet Card after the lease ends.
7.4) You agree that if no further pay cycles are available for Flare to deduct funds prior to you leaving your employment, Flare will invoice you directly and you agree to pay invoices for monies outstanding relating to your lease, salary packaging account and any 3rd party payments
7.5) Flare will continue to receive funds from your employer until such time that:
7.5.1) Your Employer ceases to make contributions
7.5.2) Your employer advises Flare in writing of your resignation or termination for any reason or
7.5.3) your salary packaging arrangement expires or is terminated for any reason
7.6) Following cessation of salary packaging with Flare where you still have a remaining term on the finance, it is your responsibility to continue to make payments to the financier by direct debit, or pay out the remaining balance as per point (2.4)
7.7) Following cessation of your salary packaging with Flare, your fuel card will be cancelled. Any transactions processed by you after the cessation date will be invoiced to you directly for payment
8.1) Flare Cars may receive commissions and/or administration fees from our financier, dealer network, insurance providers and aftermarket product suppliers and other partners/vendors
8.2) Flare Cars may agree to take over the management of transitional leases which are already in place through a 3rd party at the Employer contract sign date, however reserve the right to reject management of new leases financed via 3rd parties after the contract sign date
8.3) Flare Cars engages third party providers in order to provide the services to you as part of your Novated Lease arrangement. Flare cars may change providers from time to time. Where your selected provider is changed, Flare will substitute the provider with a suitable alternative and notify you in writing
8.4) It is your responsibility to ensure that your Novated Lease vehicle is comprehensively insured at all times
8.5) To the extent permitted by law, including the Australian Consumer Law, if your vehicle is uninsured at any time during your Novated Lease agreement, Flare Cars will not be liable for any costs you incur as the driver or owner of that vehicle
8.6) I acknowledge that I have fully declared any pending changes in circumstances to Flare through the application process
9.1) You acknowledge and agree that:
9.1.1) You expressly authorise Flare Cars to establish and maintain an account with Westpac Banking Corporation, to hold all payments made by all lessees which will fund all actual or contingent liabilities arising from all novated leases managed by Flare Cars (‘Trust Account’);
9.1.2) Your funds held in the Trust Account will be held in a commingled bank account;
9.1.3) A trust will be established in respect of the Trust Account consisting of all funds held on your behalf in favour of you, in an amount equal to the commingled funds attributable to you.
9.2) Flare Cars acknowledges and agrees that:
9.2.1) Flare Cars will not commingle any funds in the Trust Account with Flare Cars’ own funds, except in the ordinary course of Flare Cars’ business for the purposes of making any payments due under your novated lease;
9.2.2) Flare Cars will not use all or any portion of the Trust Account for its corporate purposes, including by granting any interest or right to the Trust Account to any third party;
9.2.3) Flare Cars will not voluntarily make all or any portion of the Trust Account available to its creditors were any insolvency event to arise; and
9.2.4) Flare Cars will not otherwise take any action inconsistent with the your ownership of your funds which form part of the Trust Account.