The cost of EVs is set to decrease further thanks to a legislative change that exempts them from fringe benefits tax (FBT). It will make it more affordable for employees to package through their employers via novated leasing.
Unlike traditional car loans, which require significant upfront payments and high-interest rates, a Tesla novated lease salary packaging is all-inclusive, with all running costs included in monthly payments. These are deducted from your salary before tax to maximise your savings.
Get on the road sooner.
With significant savings, novated leases are one of the best ways to get an EV or PHEV. They combine finance and all running costs into convenient monthly payments, including petrol, electricity mileage, servicing, maintenance, registration, CTP (NSW) and insurance. They also remove payable GST and help reduce taxable income, making them even more tax-efficient than purchasing your Tesla with a bank loan.
With a novated lease, you can pay for your car through a three-way contract between yourself, your employer and a specialist salary packaging company that arranges the finance. Your novated lease payments are deducted from your pre-tax salary, so they’re not taxed like personal loans or lump sum payments. It can save thousands, especially if you package your new Tesla with the Government EV Discount.
As a result, novated leasing is the most effective way to buy a Tesla. In addition to saving money on your purchase, novated leasing helps you pay off your loan faster and avoid interest penalties by paying off your debt in regular, affordable repayments.
So, what are you waiting for? Make your Tesla dreams a reality today by completing an online credit application with SG Fleet. Once approved, your novated lease agreement will be available for signing in the ‘Payment Methods section of your Tesla Account. You can then schedule your delivery and collection appointment. For more information about the Tesla novated lease salary packaging, click here.
Upgrade your vehicle every three years.
With EVs, you can easily upgrade your vehicle every three years to keep up with technology trends and maintain your vehicle’s performance. It is a great way to save money on fuel maintenance costs and stay up-to-date with new features. When servicing and repairing EVs require less work than petrol cars, you can get top-tier maintenance through a novated lease package. It includes comprehensive car insurance, tyres and servicing.
EVs also have fewer moving parts than petrol or diesel cars, so they don’t need as many regular maintenance checks and are less likely to break down. However, they will still need a check-up at the mechanic from time to time and may need tyres replaced periodically. A Tesla novated lease includes all these expenses in your monthly payments.
A novated lease is an innovative financing option available to full-time Australian employees, which allows you to salary package an electric vehicle while saving tax money. A legally binding agreement between an employee, their employer and a financier removes repayments from your income so you can pay for them before tax. This arrangement also makes it easy to upgrade your vehicle each year without the hassle of claiming depreciation.
If you want to get on the greener side of life with a Tesla, we recommend checking out our wide range of novated lease packages. We can help you find the right one to suit your lifestyle and even cover the first year’s worth of comprehensive car insurance. Select the Tesla model you want and complete an online credit application with SG Fleet. It will be reviewed and posted in your Tesla Account under Payment Methods – you’ll know immediately if you have been approved.
Save on maintenance costs.
With no petrol engines, electric vehicles require fewer parts to keep them in tip-top condition. They also offer a more reliable ride and lower emissions. However, even with all the benefits of an EV, they still need regular maintenance like tyres, oil changes and battery inspections. That’s why salary packaging your Tesla through a novated lease can be a great way to save money on all running costs.