An electric vehicle novated lease can make a move towards more eco-friendly cars more manageable and affordable, and we can work with you to find one that fits both your budget and lifestyle needs.
The cost has long been an obstacle to Australians buying electric vehicles (EVs). Now that the FBT exemption has been implemented by the government, more individuals may consider salary packaging their EV through a novated lease arrangement.
Get on the road sooner.
If you’re curious about switching to an electric vehicle but don’t feel ready to buy one outright, Novated-EV novated lease electric vehicle may be your answer. Novated lease agreements make getting behind the wheel of an EV affordable while saving tax money and cutting expenses associated with its running costs.
An EV novated lease also allows you to be at the forefront of new technology and enjoy all its advantages. Since they do not contain petrol engine parts, EVs are much simpler and easier to maintain than traditional vehicles; their batteries typically last eight years or 240,000km before needing replacing – giving you longer journeys for less cost.
Modern EV models boast many standard features, such as smart keyless entry, dual charging ports, reverse parking cameras, etc. If ever decide to sell it again, an EV may have higher trade-in values due to lower running costs and demand.
Save money on fuel
The battery electric vehicle (EV) revolution is gathering momentum across Australia, offering drivers significant cost-cutting potential when they lease one through novated leasing. EVs require less maintenance than petrol or diesel cars and typically do not experience carbon build-up that damages exhaust systems; when it comes to fuel costs, you’ll enjoy lower electricity rates and potential government rebates.
With a novated lease, you can deduct various running costs associated with an electric vehicle (EV), such as comprehensive car insurance, maintenance, registration and tyre replacements. Furthermore, home charging station power costs may also qualify for GST rebates as part of your lease agreement.
Save money on maintenance.
Electric vehicles (EVs) don’t need oil changes, making them significantly cheaper to maintain than their petrol-car counterparts. You may even be eligible to claim back charging station costs on your novated lease agreement to lower running expenses further.
Salary sacrifices your lease payments, and you could potentially pay less tax overall and save thousands of dollars, which is particularly advantageous for younger Australians; according to one survey, 84% of those under 30 indicated an interest in switching to an electric vehicle through novated leasing agreements.
If you’re considering switching to Novated-EV novated lease electric vehicle, you must discuss all of your options with an accountant first. Maxxia’s team can assist with finding and structuring your novated lease to maximise benefits – contact us now to start! We aim to find an economically priced EV that perfectly meets your needs or hybrid options if that better suits your preferences.
Get the car you want
With a novated lease, you get all of the financial advantages associated with owning an electric car combined with budget convenience, with all finance and running costs such as electricity usage charges, registration, insurance premiums, servicing and servicing being combined into one pre-tax* payment each pay cycle – offering significant savings versus paying car loan interest and GST each week while simultaneously decreasing taxable income annually.
By taking advantage of the Labor Government’s Electric Vehicle Discount policy, you can now secure a novated lease for an eligible electric or plug-in hybrid vehicle without GST being applied – saving thousands off its purchase price while reaping additional cost benefits from salary packaging.
Novated leasing provides more flexibility than buying outright with financing, allowing you to drive a different car every few years instead of being stuck with an outdated model when your loan payments end. It is an ideal way to stay abreast of quickly evolving technology without being stuck in debt for too long.