Electrify Your Commute: The BYD Atto 3 Novated Lease Price Breakdown
The Financial Advantages of a BYD Atto 3 Novated Lease
Choosing a BYD Atto 3 through a novated lease offers many financial benefits that cater to cost-efficiency and flexibility.
This arrangement allows for lease payments from your pre-tax salary, increasing your take-home pay, but also qualifies for an exemption from Fringe Benefits Tax (FBT) for vehicles under the $89,332 luxury car tax threshold.
Including expenses such as charging and maintenance in the lease package further enhances the financial appeal of this option.
Understanding the BYD Atto 3 Novated Lease Price
The total on-road cost for a BYD Atto 3 under a novated lease is $51,248. This figure includes all necessary expenses, ensuring there are no hidden costs. The estimated weekly cost of the lease is $173, positioning it as an attractive option for individuals seeking both affordability and the benefits of driving a fully electric vehicle.
The Savings Breakdown
Opting for a BYD Atto 3 novated lease can save $34,580 over the lease term. This considerable amount represents savings from the pre-tax arrangement and the overall lower running costs associated with electric vehicles, such as reduced maintenance and charging expenses compared to traditional fuel costs.
The Flexibility of Novated Leasing
Novated leasing with the BYD Atto 3 provides unmatched flexibility. This leasing option is designed to adapt to various financial situations, offering the potential for adjustments in lease terms and conditions to suit the lessee's needs better.
Comparative Cost Analysis
A detailed cost comparison indicates that over a four-year lease period, the total costs of the novated lease, without including any tax savings, appear higher than an outright purchase.
However, after-tax savings, the novated lease option becomes notably cheaper than an outright purchase.
Additionally, individuals on a median Australian salary or above driving an average distance or more can find the BYD Atto 3 cheaper to procure on a novated lease than an outright purchase.
Government Incentives and Savings
The Australian government's EV fringe benefit tax exemption plays a pivotal role in enhancing the appeal of electric vehicles like the BYD Atto 3 under novated leasing.
The policy aims to make EVs more affordable, with savings of over $20,000 over a three-year lease for the Atto 3, showcasing substantial financial benefits over comparable petrol and diesel vehicles.
How To Set Up Novated Leasing for the BYD ATTO 3
Setting up a novated lease for the BYD ATTO 3 is a straightforward process designed to be as hassle-free as possible.
Choose Your Model
Begin by selecting your preferred BYD ATTO 3 model. This step ensures that the vehicle you choose meets all your commuting needs.
Fast Form Submission
Fill out a simple Fast Form to initiate the process. Following this, a consultation call will be scheduled to discuss your requirements and answer any queries.
Credit Application and Lease Documentation
Complete a credit application and sign the necessary lease documentation to proceed further upon approval.
Employer Onboarding
Your employer will receive onboarding information via email, outlining the process and requiring them to sign a deed of activation to finalise the arrangement.
Vehicle Delivery
Upon settlement of finance, your new BYD ATTO 3 will be dispatched to you, marking the beginning of your new, electrified commute.
Payroll Arrangement
Finally, payroll advice will be issued to your department or supplier to ensure smooth and seamless payment arrangements.
Making the Switch
Opting for a BYD Atto 3 through a novated lease aligns with eco-friendly objectives and presents a financially attractive proposition. With the added benefits of government incentives, tax savings, and the inclusive nature of novated leasing packages, transitioning to an electric vehicle like the BYD Atto 3 becomes a more accessible and appealing choice for Australians looking to electrify their commute.
Ready to reduce your commuting costs and enjoy the benefits of a new BYD Atto 3? Contact Novated Finance Australia to start your journey with an easy novated lease setup and drive into a future of savings and sustainability.
Frequently Asked Question
-
A novated lease is a three-party agreement between an employee, employer, and finance company, allowing employees to lease a vehicle using their pre-tax income.
-
The benefits include savings on pre-tax salary, exemption from FBT for vehicles under the luxury car tax threshold, and included expenses such as charging and maintenance.
-
You can save an estimated $34,580 over the lease term, thanks to the financial efficiency of the arrangement and the low running costs of the BYD Atto 3.
-
No, the BYD Atto 3 is exempt from the luxury car tax for vehicles under the $89,332 threshold, enhancing its financial attractiveness.
-
Start by choosing your BYD ATTO 3 model, fill out the Fast Form, and follow the subsequent steps outlined in the guide to complete the process.