You can save considerably on your new electric car through a novated lease. It is because all payments and running costs are combined and deducted from your salary before tax.
Tax benefits could mean fewer tax payments and thousands in savings – including fuel, registration and maintenance expenses, tyres and even electricity charges.
Save Money
EV novated lease is an excellent way to get behind the wheel of an electric car while saving money on running expenses. Plus, you may qualify for various government incentives and tax breaks, which could further reduce driving your EV over time.
The great news is that you can repay these charges through your salary packaging provider for recharging an electric vehicle (EV). It is an excellent option for those who travel frequently, as they’ll save big money on fuel expenses without breaking the bank.
Are you uncertain whether a novated lease is right for you? Contact our team, and we’d be more than happy to assist. In addition, we can calculate how much money can be saved and your total repayments over an agreed-upon period.
Get on the Greener Road
If you want to take the green route as soon as possible, novated lease electric cars are a great choice. These vehicles are often more affordable than conventional cars and can save you thousands in running expenses.
Another aspect to consider when budgeting for fuel is the cost. Although prices have decreased in recent years, they remain high. That’s why using your novated lease payments as payment for fuel charges instead of out-of-pocket can be a wise idea.
You can save money by taking advantage of commercial charging stations. These locations allow you to quickly recharge your electric vehicle battery without using gas, making them a great option when on long trips or needing extra power.
As more electric vehicles hit the market, charging stations are springing up all over Australia. There are now over 2000 such stations nationwide, and more are being constructed as demand grows for these vehicles.
Save on Tax
When considering going electric, weigh the tax benefits an EV novated lease can provide. A novated lease combines all car finance repayments and running expenses – such as registration, insurance and servicing – into one regular pre-tax payment spread over the year.
Salary sacrifice arrangements, or salary reduction plans, can significantly reduce taxable income. As a result, they’re increasingly popular among companies looking to give their employees more from their vehicles and minimise commuting expenses.
By leasing an electric vehicle on a novated lease, you could save thousands of dollars annually in taxes. Plus, you’ll positively contribute to society by doing your part for the environment.
Due to EVs having fewer moving parts than their petrol counterparts, service intervals for electric cars tend to be shorter – typically 12 months or 15,000km.
Get the Car You Want
Electric cars are becoming the next big thing in transportation. Not only are they eco-friendly and cost-effective to run than petrol counterparts, but their design also means fewer moving parts that wear out as quickly. Still, regular servicing of your EV is necessary; getting one on a novated lease makes this stress-free and low-cost experience much smoother.
With EV novated lease, all of your tyre, servicing and insurance costs are deducted from your salary before taxation – providing access to thousands of dollars in savings. It’s an ideal solution for anyone wanting to drive an electric vehicle (EV), especially if they are working on a salary package that includes salary sacrifice.
Many people may find leasing a vehicle an odd choice compared to purchasing one new. But with more and more electric cars hitting the road each year, experts agree that leasing can be an excellent way to get a vehicle with all the latest technology and innovations.
One of the key advantages is that you can upgrade to a new model every two or three years and take advantage of advances in battery durability, range and other technologies. Furthermore, when your lease ends, you can extend your current electric vehicle’s lease by returning it to its original dealer or another franchised new car dealership.
During your lease period, you can also utilise commercial charging stations to recharge your car’s battery while on the go. It is helpful when travelling long distances or needing to charge at night.
As with any car, you must occasionally take your electric vehicle (EV) to a mechanic for maintenance and repairs. However, since its components differ from petrol cars, you can save on tyre replacement and other costly repairs.