Advanced battery technology and increasing investments in charging infrastructure have made electric vehicles increasingly affordable for Australians. Novated leasing can make owning an EV even more appealing, providing significant tax benefits when using salary packaging to purchase one. Check the EV novated lease calculator.

Even more so now that government incentives make eligible EVs tax-free when leased through novated leasing. Why not give it a go?

How it works

With the Australian government’s Electric Car Discount, now is an opportune time to switch to an eligible EV through novated leasing – unlike traditional finance arrangements, it is GST-free, and payments are deducted directly from your salary before they’re taxed, significantly lowering taxable income and saving tax!

Novated leases provide flexible terms, access to the latest vehicles and the convenience of one monthly payment that includes budgeted running costs – eliminating unexpected vehicle expenses. Furthermore, should you leave your employer or change vehicles during the lease term, you don’t have to worry about selling or disposing of your current vehicle before leaving behind its monthly payment commitments.

Benefits

Not only can EV ownership unlock significant financial savings, but there can also be multiple other advantages associated with owning one – for instance, taking full advantage of state and federal EV incentives that could save thousands of dollars over time.

Full ownership allows drivers to tailor and modify their cars according to their needs and desires. It is especially valuable in electric vehicles, where models change rapidly and new features become available.

When purchasing an electric vehicle (EV), you can also claim expenses like maintenance, registration, and insurance that may not be applicable when leasing one. To find the option that makes sense, talk with an experienced Salary Packaging expert.

Taxes

Good news – now is an ideal time to switch to an electric vehicle, thanks to the Australian Government’s EV Discount! With a novated lease, you could save more by including both finance and running costs as one monthly pre-tax payment.

Electric vehicles (EVs) are considered low-risk investments for financiers. Their purchase prices and fuel costs are significantly lower than traditional vehicles, meaning you could receive faster approval.

Electric vehicles (EVs) that were first held and used on or after 1 July 2022 are also Fringe Benefits Tax-exempt, meaning they could save you thousands in Fringe Benefits Tax if first purchased after this date – further making EVs more cost-effective. They already enjoy a five per cent import tariff discount to make ownership much more cost-effective.

Incentives

People often assume EVs are out of reach financially; however, this may not always be the case. Salary packaging through a novated lease can bring significant savings compared to purchasing or financing an EV outright or through car loan finance. Check the EV novated lease calculator.

Novated leasing allows you to pay your vehicle and running costs from pre-tax salary, which can help lower taxable income and save on Fringe Benefits Tax (FBT) and GST. Furthermore, Australian Government legislation exempting electric vehicles (EVs) under the luxury car threshold from FBT can further increase savings.

EV technology and driver assistance features continue to advance rapidly, offering those interested in experiencing cutting-edge innovations without making a significant commitment. An EV can cost as much as $10 less per 100km than its ICE equivalent, depending on electricity rates, petrol costs and usage costs.

The EV Novated Lease Calculator is designed to help you get an estimate of how much you could save by switching to an Electric Vehicle. This calculator includes the car and all running costs such as fuel or electricity, registration, tyres, insurance & servicing to give you a complete picture of your savings.

Leasing an EV makes more sense than buying one outright with finance because you are protected against quickly changing technology by leasing and turning the vehicle in at the end of your lease term. It is particularly useful if you are concerned about being stuck with an outdated car before your loan payments are fully completed.

If you are considering car leasing Adelaide, you may have several questions. There are advantages to leasing a car, such as tax benefits and low monthly payments. Car leasing is also a good way to buy a vehicle and save money. Read on to learn more about car leasing Adelaide options and what you can expect.

Tax advantages of novated leases

Novated leases are unique car leasing arrangements and can significantly impact your car’s total cost. In addition, these arrangements bring together the car buyer, his employer, and a financial service provider to offer the customer a tax advantage. Therefore, before applying for a novated lease, it is important to determine your eligibility. However, a novated lease can benefit anyone, whether you’re looking to lease a second-hand or brand-new car.

Novated leases are also advantageous for both the employer and the employee. For one, you won’t have to pay GST on the vehicle you’re leasing. In addition, you won’t have to pay for fuel and servicing costs, which can significantly reduce your overall tax burden. Another advantage is that you can obtain discounts from the leasing company, which will further reduce your taxable income.

While novated leases can be advantageous for several reasons, the primary advantage is that they’re more tax-efficient than conventional leasing. That means you’ll be paying less in taxes, and you’ll have a higher post-tax income. Also, novated leases can offer significant savings on car costs, and you don’t have to worry about high mileage to get a brand-new car every one to five years.

Cost of leasing a car in Adelaide

Leasing is a great option if you’re in the market for a new car. The monthly payments for a lease are often lower than the total cost of buying the car outright. However, it’s important to consider the car’s depreciation over the lease term. Cars with high residual values are typically cheaper to lease than those that depreciate too quickly. Use a lease calculator to determine the total cost of leasing a new car.

If you’re looking for a more affordable option, consider leasing a car in Adelaide from a company specialising in corporate car finance. These companies have local staff and are happy to speak with customers. They can answer all your questions regarding leasing a car in Adelaide, from finding a car for your business to offering benefits to your staff.

Another way to reduce the cost of car leasing Adelaide is to consider a novated lease. This type of lease offers many advantages, including fuel cards and turnover of service and maintenance bills. Plus, you’ll never need to worry about missing a payment or incurring late fees.

Maintenance costs of leasing a car in Adelaide

A car lease can have a variety of maintenance costs. These costs are your responsibility. Typically, these costs include fuel and servicing. However, they may also include modifications to the vehicle. There are many financial benefits to leasing a car. One of the benefits is that you don’t have to worry about residual obligations or depreciation. This can save you thousands of dollars over the life of the lease agreement.

Another benefit to leasing a car in Adelaide is that it is tax deductible. In addition, your lease payments can be customised to the end of the term. And for businesses, fully-maintained lease deals are a great way to reduce the administration costs of running a fleet.

If you’re leasing a car, check the guidelines for servicing and maintenance. Make sure the car’s manufacturer warranty covers any mechanical or electrical issues. Make sure a dealership or other approved garage services the car. If not, you may breach your lease contract and have to pay for the repairs. Also, ensure the maintenance package includes all the common maintenance costs, such as oil checks and tyre replacements.

Cost of leasing a car with VehicleSolutions

VehicleSolutions car leasing Adelaide offers competitive car leasing quotes for individuals and companies. They also provide a leasing calculator that helps customers to compare options, saving them thousands over the lease term. In addition, VehicleSolutions is the only Salary Packaging provider in Australia to own Motorbuys, an online new car buying platform.

VehicleSolutions Adelaide leasing deals come with various benefits for the renter, typically tax deductible. Additionally, the lease term can be customised to suit the needs of the individual. For businesses, fully-maintained car lease deals reduce the administration costs of running a fleet of vehicles.

Another benefit of leasing a car is the flexibility to drive the car as you please. Many leases have mileage restrictions, which can limit the vehicle’s use. An unlimited mileage lease may be the best choice if you travel frequently. A car lease is a great way to travel for business or pleasure.