Best Novated Lease Deals on Hybrid & EV Cars

The automotive industry is evolving rapidly, and electric vehicles (EVs) and hybrids are now more accessible than ever. Many Australians are switching to eco-friendly cars to reduce their carbon footprint while enjoying significant financial benefits. However, purchasing an EV or hybrid outright can be costly. 

A novated lease is a smart alternative. It allows you to drive the latest models while benefiting from tax savings and bundled expenses.

Novated leases are particularly advantageous for EVs and hybrids, as they offer lower running costs, tax efficiency, and financial incentives such as exemptions from Fringe Benefits Tax (FBT) on eligible electric vehicles. By opting for a novated lease, you can experience the luxury of a brand-new vehicle without the financial strain of traditional car loans or outright purchases.

At Novated Finance Australia, we provide exceptional novated lease deals on hybrid and electric cars. This guide will walk you through the best novated lease deals available, their benefits, and how to secure the best lease package for your needs.

Why Choose a Novated Lease for Hybrid & EV Cars?

Here are the reasons;

1. Financial Benefits

A novated lease provides a cost-effective way to own an EV or hybrid without the hefty upfront price tag. Key financial advantages include:

• Tax Savings: Lease payments are made from pre-tax income, reducing taxable income.

• Lower Running Costs: EVs have fewer moving parts, reducing maintenance expenses.

• No Fringe Benefits Tax (FBT) on Eligible EVs: EVs priced under $89,332 are exempt from FBT, making leasing an even more attractive option.

2. Convenience & Simplicity

Here is how;

• One Simplified Payment: All running costs, including insurance, servicing, and registration, are bundled into a single lease payment.

• Comprehensive Coverage: Enjoy roadside assistance, accident management, and inclusive tyre replacements.

3. Environmental Impact

Below is how it impacts;

• Lower Carbon Footprint: Driving an EV or hybrid helps reduce greenhouse gas emissions.

• Energy Efficiency: EVs use less energy than petrol and diesel cars, leading to long-term savings.

Top Novated Lease Deals on Hybrid & EV Cars

Here are some top deals on EV and hybrid cars;

1. BYD ATTO 3 Standard Wagon (50kWh EV)

Introduction: The BYD ATTO 3 is a stylish and efficient electric SUV with a seamless driving experience. It features a 50kWh battery with a range suited for city and highway use, making it an excellent choice for eco-conscious drivers.

• Total On-Road Costs: $51,248

• Estimated Weekly Cost with Car Loan: $306

• Estimated Weekly Cost with Novated Lease: $173

• Total Savings Over Term: $34,580

• Novated Lease Benefits: Lower running costs, tax savings, and bundled expenses like maintenance and insurance make this an attractive option.

2. Tesla Model 3 Rear-Wheel Drive Sedan

Introduction: The Tesla Model 3 is one of the most popular electric vehicles globally, known for its sleek design, advanced technology, and impressive range. Its rear-wheel-drive configuration provides an engaging driving experience while maintaining efficiency.

• Total On-Road Costs: $65,832

• Estimated Weekly Cost with Car Loan: $412

• Estimated Weekly Cost with Novated Lease: $212

• Total Savings Over Term: $52,000

• Novated Lease Benefits: Significant tax savings, reduced upfront costs, and access to lower fleet pricing enhance the affordability of this premium EV.

3. Volvo XC40 Recharge Pure Electric Wagon

Introduction: The Volvo XC40 Recharge combines Scandinavian luxury with a powerful electric drivetrain. It delivers a smooth, quiet ride while offering top-tier safety features and premium interiors.

• Total On-Road Costs: $79,778

• Estimated Weekly Cost with Car Loan: $436

• Estimated Weekly Cost with Novated Lease: $244

• Total Savings Over Term: $49,920

• Novated Lease Benefits: A novated lease makes this luxury EV more accessible by lowering your taxable income and bundling running costs into one simple payment.

4. Mercedes-Benz EQA 250 Electric Wagon

Introduction: The Mercedes-Benz EQA 250 is an elegant and refined electric SUV, perfect for those who appreciate luxury and performance in a sustainable package. It offers a comfortable ride, premium features, and an impressive electric range.

• Total On-Road Costs: $85,957

• Estimated Weekly Cost with Car Loan: $424

• Estimated Weekly Cost with Novated Lease: $243

• Total Savings Over Term: $47,093

• Novated Lease Benefits: Enjoy tax benefits, lower out-of-pocket expenses, and simplified ownership with comprehensive inclusions such as servicing and insurance.

5. BMW iX1 xDrive30 Electric Wagon

Introduction: The BMW iX1 is an all-electric compact SUV that blends dynamic performance with the brand’s signature luxury. Its all-wheel drive and advanced battery system ensure a powerful yet efficient driving experience.

• Total On-Road Costs: $86,167

• Estimated Weekly Cost with Car Loan: $465

• Estimated Weekly Cost with Novated Lease: $271

• Total Savings Over Term: $50,440

• Novated Lease Benefits: A novated lease provides an affordable way to drive this premium EV, leveraging salary packaging to maximise savings and convenience.

For complete information and to apply for one, check our special deals and get the one you want.

What’s Included in a Novated Lease?

Here is what is added in a novated lease;

• Comprehensive Insurance: Full coverage for peace of mind.

• Fuel & Charging Costs: Options for petrol, hybrid, and EV charging expenses.

• Roadside Assistance: 24/7 support to keep you on the road.

• Accident Management: Hassle-free accident support and repairs.

• Registration & CTP: Simplified vehicle registration and insurance management.

How to Get Started with a Novated Lease?

Below are the steps to get started;

Step 1: Choose Your Car

Browse our selection of EVs and hybrids or request a specific model.

Step 2: Get a Quote

Submit a simple form and receive a tailored novated lease quote.

Step 3: Credit Approval & Documentation

Complete a credit application and sign the lease agreement.

Step 4: Employer Agreement

Your employer will finalise the necessary paperwork to facilitate salary deductions.

Step 5: Vehicle Delivery

Once everything is settled, your brand-new hybrid or EV will be delivered to your doorstep.

Step 6: Hassle-Free Management

Enjoy bundled payments, tax savings, and stress-free driving.

Final Thoughts

A novated lease makes owning an EV or hybrid easier and more cost-effective. With reduced running costs, tax benefits, and access to exclusive deals, it’s the smartest way to drive the latest eco-friendly cars. 

Novated Finance Australia simplifies the process by handling everything from financing to ongoing vehicle management.

Ready to secure the best novated lease deal? Contact Novated Finance Australia today and drive your dream EV or hybrid for less!

FAQs

• 1. What are the benefits of a novated lease on an electric or hybrid car?

  A novated lease helps you save on taxes, reduces your upfront costs, and includes vehicle expenses like maintenance and insurance in one easy payment.

• 2. Can I get a novated lease on any electric or hybrid vehicle?

  Yes, as long as it falls within your employer’s salary packaging policy and meets the lease provider’s criteria.

• 3. Are there additional incentives for electric vehicles under a novated lease?

  Yes! EVs under $89,332 are exempt from Fringe Benefits Tax (FBT), making them even more cost-effective.

• 4. What happens at the end of my novated lease?

  You can pay the residual (balloon) amount to own the car, refinance it, or upgrade to a new vehicle.

• 5. How do I apply for a novated lease?

  Simply choose your car, get a quote, apply for financing, and coordinate with your employer for payroll deductions. Our team at Novated Finance Australia will guide you through the process!