Leasing rates for all vehicles leased through StateFleet Services have been adjusted in light of the current state of the secondary motor vehicle market, which has suffered a drop of around 15% over the last two years. Prices now appear to be stabilising at this lower level.

Owner Risk Fees for SES vehicles have now been stabilised at $30. This decision has been taken as an acknowledgement that individual executives, leasing vehicles as part of their remuneration package, should not be penalised for the past poor performance in the residual value of pooled vehicles. As a consequence, there has been a reduction in the monthly leasing fees for SES vehicles.

The new attached rates are effective from 1 July 1998 and replace the rates supplied as part of Circular 98 - 7.

C. Gellatly
Director-General

Indicative Lease Fees - Sales Tax (inc.)

(Term 24 months)

Old Monthly Lease Fees

New Monthly Lease Fees

SMALL

Toyota Corolla (4)

1.6 CSI
$20,755
$492
$371

1.8 Conquest
$23,080
$531
$407

1.8 Seca Hatch
$25,132
$564
$440

MEDIUM

Mitsubishi (4)

Magna Executive
$23,768
$542
$418

Toyota Camry (4)
CSI
$23,045
$530
$407

CSX
$23,513
$538
$414

LARGE

Ford

Falcon GLI
$24,449
$500
$376

Futura
$26,515
$530
$404

Fairmont
$28,836
$563
$436

Fairmont Ghia
$35,109
$653
$521

Fairlane Ghia
$34,643
$646
$514

LTD
$44,260
$784
$645

GHM

Commodore Executive
$25,259
$512
$387

Commodore Acclaim
$27,160
$539
$413

Commodore Berlina
$29,025
$566
$438

Commodore Calais
$35,558
$659
$527

Commodore Statesman
$36,565
$674
$540

Commodore Caprice
$46,259
$812
$672

Mitsubishi

Magna Executive
$25,672
$518
$393

Magna Advance
$26,746
$533
$408

Magna Altera
$29,084
$566
$439

Verada E1
$32,567
$616
$486

Verada X1
$37,419
$686
$552

Toyota

Camry CSI
$25,277
$512
$388

Camry Conquest
$25,669
$518
$393

Vienta Grande
$34,615
$646
$514

Vienta VXI
$28,448
$557
$431

Indicative Lease Fees - Pool Group 3

(Term 24 Months)

Old Monthly Lease Fees

New Monthly Lease Fees

SMALL

Toyota Corolla (4)
1.6 CSI
$17,012
$300
$339

1.8 Seca Hatch
$20,600
$332
$375

MEDIUM

Mitsubishi (4)

Magna Executive
$19,482
$330
$372

Toyota Camry (4)

CSI
$18,889
$325
$366

LARGE

Ford

Falcon GLI
$20,040
$276
$344

Futura
$21,734
$286
$359

GMH

Commodore Executive
$20,704
$280
$350

Commodore Acclaim
$22,262
$289
$363

Mitsubishi

Magna Executive
$21,043
$282
$353

Toyota

Camry CSI
$20,719
$280
$350

File No:
PSM/00094

SUBJECT:
Administration - SES - Motor Vehicle - Policy