Save up to 42% off the cost of an Electric Vehicle
Electric Vehicle novated leasing is a flexible and cost-effective way to get behind the wheel of an Electric Vehicle. It combines the convenience of novated leasing with the environmental advantages and financial savings of driving an EV.
Why choose an Electric Vehicle novated lease?
- Get into the EV market for much less - By deducting repayments, maintenance costs, insurance, charging expenses, and registration fees from your pre-tax income, you can get into the EV market for a significantly lower cost.
- High resale price - Embrace the future of low-emission vehicles and reap the benefits. As the demand for EVs continues to rise, their resale value remain strong.
- Environmental responsibility - Whether you’re an employee or employer, Electric Vehicle novated leasing shows your commitment to environmental sustainability by playing your part to reduce emissions.
Buying an EV on a novated lease is a no-brainer
Tax saving at its finest. Electric Vehicle novated leasing provides 100% tax savings as well as GST relief, making this the smartest choice for all new car buyers.
We compare buying a Tesla Model 3 on a novated lease against a car loan and outright cash purchase.
Novated Lease | Car Loan | Cash | |
Net Cost Per Week | $210.00 | $322.91 | $258.56 |
Running Cost Included | $82.58 | ||
Initial Net Cost Over the Term | $54,600.00 | $83,956.60 | $67,225.60 |
| Running Costs | $21,470.46 | $21,470.46 | |
| Residual Value Inc GST | $18,980.43 | ||
Total cost over 5 years | $73,580.43 | $105,427.06 | $88,696.06 |
EV Ownership: your questions answered
Considering a switch to an electric vehicle (EV)? AANT has all the information you need to understand and navigate the world of EVs. Let's clarify some common queries and highlight the advantages of going electric.
- What is an electric vehicle
An electric vehicle (EV), as defined by the Electric Vehicle Council, operates fully or partly on electricity. Battery electric vehicles (BEVs) run exclusively on electricity, recognizable by their absence of an exhaust pipe. Plug-in hybrid electric vehicles (PHEVs) combine an electric motor with a petrol engine, which is used when the battery runs low. Hybrid electric vehicles (HEVs) also use both power sources but have a smaller battery, limiting their electric-only range.
- What is the Electric Car Discount policy?
The Electric Car Discount, introduced by the Australian Government in December 2022, removes the Fringe Benefits Tax (FBT) on certain low-emission vehicles provided by employers. This makes electric vehicles more accessible through salary-sacrificed novated leases.
- What qualifies as a zero or low emission vehicle?
Vehicles that meet government standards for zero or low emissions include those powered by battery electric, plug-in hybrid electric, or hydrogen fuel cell technologies, designed for carrying fewer than nine passengers and less than one tonne.
- How does an electric vehicle novated lease differ from a petrol vehicle lease?
Lease structures are available for electric and fuel injected vehicles. The key difference is that Electric Vehicles under the luxury limit of $89332 have both repayments and running costs that are all pre tax and GST free where traditional fuel vehicles are a combination of pre an post tax repayments. The operating costs of an EV are also substantially less than the traditional fuel vehicles.
- What are the costs of leasing an electric vehicle?
A novated lease for an electric vehicle typically offers greater financial benefits compared to other arrangements, thanks to substantial tax savings on the purchase and lower ongoing operating costs.
- How do electric vehicle running costs compare to petrol cars?
Operating an EV is generally less expensive than a petrol car. EVs require less maintenance due to fewer moving parts and simpler engineering. Service costs are also lower. Additionally, electricity for powering an EV costs less than petrol, offering substantial savings over time.
- How are running costs covered in an electric vehicle novated lease?
Running costs, including servicing, registration, and insurance, are included in your lease payments, similar to petrol vehicle leases. You can account for electricity costs by showing usage through devices like home fast chargers or separate smart meters.
- Can I drive to Litchfield in my EV?
Range anxiety is a common concern, but many EVs now offer sufficient range to comfortably make trips like driving to Litchfield. The range varies by model, but several can travel long distances on a single charge, easing fears of running out of power.
- Are EVs a fire hazard?
EVs are actually less likely to catch fire than vehicles with internal combustion engines. Fire incidents in EVs are rare and typically result from external factors.
- How safe are electric vehicles?
All electric vehicles must meet the same Australian car safety standards as other vehicles. Also, as the battery is located near to the ground, the cars centre of gravity is much lower, providing much better handling. You’re also not carrying around a tank full of petrol/
- Can EV batteries be recycled?
Yes, the technology for recycling lithium-ion batteries has advanced considerably, allowing for over 90% of the materials to be recovered and reused. Used EV batteries can also be repurposed for energy storage in residential and commercial settings.
For more information or to discuss how an electric vehicle could fit into your lifestyle, please contact AANT. We’re here to help you make informed decisions about your next vehicle purchase