Who will buy my vehicle?
Due to their high level of quality and great condition, Novated Lease vehicles typically do very well, either being purchased by Pickles through DIYinspect or on consignment on your behalf at public auction or fixed price. The vast majority of these vehicles are sold to private buyers.
Am I committed to use Pickles Novated Remarketing if I submit an assessment form or request a purchase price from DIYinspect?
No. A separate form will be forwarded to you should you choose to take advantage of the Pickles Novated Remarketing service.
Is there any cost for submitting and assessment form or requesting a DIYinspect purchase price?
No. Pickles’ sight unseen assessment of your vehicle is free of charge.
Does it matter who my vehicle is financed with?
No. Provided that you can supply Pickles with an invoice or a valid payout advice from your financier which includes their bank details and the GST inclusive purchase price, Pickles can make direct payment for the residual value on your behalf.
Does Pickles actually buy my Novated lease vehicle?
Yes, if you accept the purchase price through DIYinspect.
No, if you choose to sell your vehicle by consignment.
I think my vehicle may sell for less than the cost to payout my finance company; can I still use this service?
Yes, Pickles will calculate a potential shortfall, or ‘Gap Amount’ which is based on our DIYinspect purchase price or consignment low estimate, and payable on delivery of the vehicle. Upon determination of a final sale amount by consignment, any unused Gap amounts will be refunded directly to you. Given that more than 80% of Novated vehicles sell for greater than the midpoint of our estimates, you can expect to receive back a large portion, or even all of your original Gap payment. Finally, should your vehicle for some reason not achieve our low estimate, you will not be held responsible for this shortfall - Pickles will.
My vehicle will be out of registration on sale, does that matter?
No. The large majority of Novated Lease Vehicles are sold without any registration. Some lessees choose to renew their registration, particularly if they have funds left over in their Novated budget. This is helpful when selling to private buyers and can assist with attracting a higher sale price, but it is not essential. Some state road authorities permit a short-term registration of three or six months as opposed to 12 months; your fleet manager should be able to advise you if this is possible.
My insurance will lapse when the Residual Value is paid out; does this matter?
No. Pickles will insure your Novated Lease vehicle once we take possession under our corporate insurance policy.
My finance payout is due in the next day or so; am I too late?
No. Please alert us to the tight timeframes in which you are working, and we will accommodate you. Our team have, on occasions, received a quote, discussed the outcome, taken delivery, and paid out the residual value all on the same day.
I have paid out my residual already; can I still use Novated Lease Remarketing?
Yes. Simply make note of this in your email or assessment form as we will complete a PPSR.
Can I use Pickles Novated Remarketing if I am facing redundancy?
Yes. Please make mention of this in your email to Pickles.
Will my vehicle have a reserve?
Yes – on consignment sales only. All Novated Lease vehicles have an agreed-upon reserve price before we take delivery of your vehicle. This ensures you will be happy with the price at which we sell your vehicle.
I'm considering breaking my lease early; can I still use this service?
Yes. Your leasing company should be able to provide you with an early termination value or early payout value. Pickles can still step in and make this payment for you, even if a potential loss on sale is expected.
I'm going overseas but need to terminate my lease, can I still use Novated Remarketing?
We often have lessees deliver their vehicle to Pickles a day or up to three days prior to their departure from Australia. As long as you have access to email whilst overseas so that we can still communicate effectively, and you have an Australian bank account for sending your proceeds, you can use this service.
I'm based in a remote location, does that matter?
No. Pickles can arrange transport for your vehicle from wherever you are located to our facility via our Australia-wide transport network. These costs will be deducted from the vehicle proceeds upon sale. This is a service that many mining employees take advantage of, just let us know and we can help you too.
Do I need to take my vehicle to a Pickles branch for inspection or valuation?
No. Our Novated Remarketing service embraces the honesty of the Novated lease drivers.
If the vehicle is sold under consignment, any non-disclosure of damage or major fault will be sighted on delivery and will affect the achievable sale price.
If the vehicle is purchased via DIYinspect, the purchase price is subject to a final inspection on arrival at a Pickles branch.
What happens once I've emailed my assessment form to novated@pickles.com.au?
When your form is received, the Pickles Novated Remarketing team will determine a low and high estimate, taking into consideration your location and current market trends. Pickles will then call you to discuss the outcome and the associated remarketing fees with the sale of your vehicle. This should all occur within a 48 hour period - excluding weekends and public holidays.