What happens if I am involved in an accident?

During your novated lease

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If you have obtained damage to the vehicle that needs fixing, you can opt to have the repairs organised through your insurance provider or, if the cost is less, with a repair centre. The cost of the repairs or the excess incurred is fully reimbursable through your lease.

If your vehicle is deemed a write-off with the insurer, your insurer will either replace the vehicle (subject to T&C) or pay your financier the market value of the vehicle. It is important to understand that depending on the time that you write-off the vehicle, the outstanding finance may be higher than the current market-value of the car. As such, TLA is an insurance product that can cover that difference.

If you have been involved in an accident on a current novated lease vehicle, we would recommend that you call us on 1300 123 123 to discuss your options.