What is the process at the end of the novated lease?
Your end of lease options
Prior to the end of your novated lease you will receive an email from us that provides information regarding your account. This will include details on the residual payment you will need to make to your financier, should you wish to pay out the lease finance.
From the final day of your lease, it will take Maxxia approximately 30 days to reconcile and finalise your account and you will still be able to make claims as long as the dated third-party invoice is prior to the end date of the lease.
Please be aware that once your lease ends, the following items will also cease:
- Payments to the finance company arranged by Maxxia; and
- Your fuel cards; and
- Maxxia-arranged Roadside Care; and
- Your ability to submit claims via Maxxia Online and the Maxxia app.
Insurance:
Once you pay out your finance your Maxxia arranged insurance policy (Total Loss Assist, Guaranteed Buyback/Residual Protection Cover and/or Lease Protection Insurance) will also end. You will receive a pro-rata refund if applicable.
NOTE: If you are still paying the finance (only the novated lease has ended), add-on insurances can also remain active.
Extended Warranty Insurance will not be ceased when you pay out the finance as this cover is tied to the vehicle. If you choose to on sell the vehicle privately, the extended warranty cover can be transferred to the new owner within seven (7) days of the sale. Refer to the PDS for details.
Your Allianz CMV insurance will be valid up until the 30th of the month your lease ends, after this point you will need to ensure your vehicle is covered if you decide to keep the vehicle.