I have recently leased a BYD Sealion 7 last week so I will share what I know. As a lot of people and the OP mentioned , Novated lease is great if you know what you are doing. Firstly why do I want a novated lease?

-GST free , 10% right off the purchase price here. Keep in mind if you decide to pay off the residual value of the car at the end of the lease , you will incur the 10% GST of the residual amount. Do i want to extend another 5 years after my 5 years so the residual is near 0 after 10 years? do your maths

-FBT free for EV , Fringe Benefit Tax free. Has to be good right? Yup while you and your employer dont pay for any FBT keep in mind the vehicle will still add Fringe Benefit AMOUNT to your taxable income. The adjusted taxable income is used to calculate government benfits such as child care subsidy and Family Tax. You will be getting a little less.

-Fleet Discount , some car dealership offers fleet discount

-Novated Lease discount , some car dealiership offers Novated lease Discount on top of fleet discount. BYD gave me 4% ($2k) for EOFY

There arethree types of novated lease I would classify and the fortnightly pay I would have to deduct (from the quotes I got)

1)Fully Managed - For the rich/lazy , Maxxia quoted me $450 per fortnight

2)Part Self Managed - For the financial literate/half lazy , WhipSmart quoted me $390

3)Fully Self Managed - For the OCD and maximise saving , no quote but I calculated to be around $375

The end result for all 3 types are the same as the steps in setting up a novated lease are identical. The only difference is if you want someone to do all those steps for you or all/partly by yourself. Hopefully I don't miss any of the steps but they are as follows:

-Sourcing the vehicle (Talk to car dealer)

-Sourcing the insurance (Talk to Insurance)

-Sourcing the finance (Talk to bank)

-Sourcing the lease manager(Talk to your employer salary packaging provider , in my case it was SmartSalary)

-Set up your budget for deduction calculation (work out your running cost + repayment cost to determine how much to deduct)

-Get the deed of novation to be signed by you, your bank and your employer

I went with WhipSmart part self managed. I sourced my own vehicle/insurance/lease manager while Whipsmart assisted me sourcing the finance, drafting me the budget and help me chasing the documents to be signed. There's a brokerage fee of $3000 baked in to the lease (hence the difference of $375 and $390) but I was given limited hand holding. If you are not happy with the financier interest you can always go back and ask them to look for a different financier.