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Novated Lease EV

Electrify Your Commute with a Novated Lease EV

Drive into the future – smarter, cleaner, and more cost-effectively with a novated lease EV.

Novated Lease EV: Defined

A novated lease for electric vehicles (EVs) offers a unique and cost-effective way to drive eco-friendly transportation. With this arrangement, individuals can enjoy the benefits of leasing an EV while potentially saving on taxes and reducing their environmental impact. 

Discover how Novated Leasing Online can help you embrace sustainable mobility with a novated lease EV.

Electric vehicles offer a range of advantages that make them an appealing option for many drivers. Here are some key benefits to consider:

EVs produce zero tailpipe emissions, reducing air pollution and combating climate change. By driving an EV, you can contribute to a cleaner and greener future.

One of the most significant advantages of EVs is their lower running costs. Electric vehicles are more energy-efficient than petrol-powered cars, resulting in savings on fuel expenses. Additionally, electric vehicles typically require less maintenance due to fewer moving parts, resulting in lower servicing and repair costs.

Many governments provide incentives and discounts to encourage the adoption of electric vehicles. For example, in Australia, the Federal Government has introduced the Electric Car Discount Policy, which exempts eligible EVs from Fringe Benefits Tax (FBT) when financed through a novated lease.

Novated leasing offers attractive tax benefits for EV drivers. Through a novated lease, lease payments and running costs are deducted from your pre-tax salary, reducing your taxable income and potentially resulting in significant tax savings.

EVs are equipped with advanced technology, including regenerative braking, smart charging capabilities, and innovative safety features. These technological advancements provide a superior driving experience and increased convenience.

By combining the benefits of electric vehicles with the advantages of a novated lease, you can enjoy even greater financial savings and eco-friendly advantages.

Novated Lease EV: How It Works

Now that you understand the benefits of driving an EV, let’s explore how a novated lease EV works. A novated lease for an EV follows the same principles as a lease for a petrol-powered vehicle, but with additional tax savings.

To get a clear estimate of the potential savings and benefits of a novated lease for an EV, use our Novated Leasing Calculator.

Myths & Truths About Electric Vehicles

While the upfront cost of an EV may be higher than that of a petrol-powered car, the lower running costs and potential tax savings can offset this initial investment. EVs are more energy-efficient, resulting in lower fuel expenses, and require less maintenance due to fewer moving parts.

Once you’ve chosen your vehicle, a novated lease is established. This agreement involves you, your employer, and the leasing company. It effectively transfers the responsibility for lease payments and other associated expenses from you to your employer. This means that your employer takes care of the lease payments using a portion of your pre-tax salary.

Charging infrastructure is continuously expanding, with an increasing number of public charging stations available. Additionally, most EV owners charge their vehicles at home overnight, eliminating the need for frequent public charging.

While it’s true that charging times can vary depending on the charging station’s capacity, technological advancements have significantly reduced charging times. Many fast-charging stations can provide a substantial range boost in just a few minutes.

Electric vehicles offer instant torque delivery, resulting in impressive acceleration and responsiveness. Modern EVs can compete with or even outperform traditional petrol-powered cars in terms of speed and performance.

EV Discounts and Financial Benefits

To recap, the Electric Car Discount Policy introduced by the Australian Government provides significant financial benefits for those interested in leasing an EV through a novated lease. The key points to remember are:

  • Eligible EVs are exempt from Fringe Benefits Tax (FBT), resulting in potential tax savings.
  • Novated lease payments and running costs are deducted from your pre-tax salary, reducing your taxable income.
  • GST is not payable on the purchase price of an EV financed through a novated lease, offering additional savings.

These financial incentives, combined with the environmental advantages of driving an EV, make a novated lease an attractive option for those considering making the switch to electric.

Electric and Hybrid Vehicle Offers

To further incentivise the adoption of electric and hybrid vehicles, there are often special offers and deals available. These offers can provide additional savings and make leasing an EV even more affordable. Explore the current offers and promotions to find the best deal for your desired electric or hybrid vehicle.

Are you ready to experience the benefits of driving an electric vehicle through a novated lease?

Get in touch with our team today to learn more about novated lease options for EVs and discover how you can save on your next electric vehicle.

Frequently Asked Questions

The Electric Vehicle Council’s website provides a comprehensive list of available charging stations across Australia, including information about the types of chargers available.

Planning your route and locating fast-charging stations along the way can ensure you have access to quick charging options during long trips. Additionally, the increasing availability of charging infrastructure makes it easier to find charging stations even in remote areas.

Yes, most EV owners charge their vehicles at home using a standard power outlet or by installing a dedicated charging station. Home charging offers convenience and allows you to start each day with a fully charged vehicle.

EVs generally require less frequent servicing compared to petrol-powered vehicles. However, it’s important to follow the manufacturer’s recommendations regarding maintenance and servicing intervals.

Novated leasing is subject to certain conditions and limitations. It’s important to familiarise yourself with the terms of the lease agreement and consult with a professional advisor if needed.

The Potential Benefits of EVs

By driving an EV, you significantly reduce your carbon footprint and contribute to a more sustainable future. EVs produce zero tailpipe emissions, reducing air pollution and dependence on fossil fuels.

Over the course of ownership, electric vehicles can be more cost-effective than petrol-powered cars. Lower running costs, reduced maintenance requirements, and potential tax savings can result in substantial savings over time.

Electric vehicles offer a smooth and quiet driving experience, with instant torque and responsive acceleration. The advanced technology and features present in EVs enhance comfort, convenience, and safety.

Some cities and regions offer special benefits for EV owners, such as free parking, access to bus lanes, and reduced toll fees. By driving an EV, you may be eligible for these additional perks.