Quote check - I've hit the wall
Help.....
I consider myself a pretty smart person but I think ive hit the wall with trying to purchase a Jaecoo J5 EV through a novated lease. I'm getting to the point where I just want to say stuff it all and purchase the car with cash.
I've attached the final quote from the NL company that we have to deal with.
We aren't sure if im going to be at this place of employment long term so have chosen to use 1 year as a starting point.
The numbers for disbursements are my own based on my own research, and unless anyone has comment im happy to proceed on these figures.
I guess the issue I've got is we pay a crap load of tax (top band) and have been told the EV via a NL is one of the small ways to get a financial benefit, so here we are. I've been told the effective interest rate is 9.5% but for the life of me I can't seem to replicate that on the usual calculators.
Can anyone with a better understanding of these quotes help me clarify whether this quoted rate is correct and if not, what it is? Otherwise any red flags in the quote?
I guess as long as we are saving some money, then great, but the way these companies frame their product and set things out, is really leaving a bad taste in my mouth.