Are you looking for a smarter way to own your next car?
Whether you’re eyeing an electric vehicle (EV), a plug-in hybrid (PHEV), or a traditional internal combustion engine (ICE) vehicle, novated leasing offers significant cost-saving benefits.
By packaging your car expenses into your pre-tax salary, novated leasing not only reduces your taxable income but can also lead to substantial savings compared to paying the recommended retail price (RRP).
Let’s explore some popular real-world examples.
EV Savings:
Tesla Model Y RWD
RRP: $61,221.
Novated Lease Price: $55,655.
Weekly price on a novated lease: From $161 + on road costs.
By choosing a novated lease, you could save over $5,500 on a Tesla Model Y compared to the RRP.
These savings are amplified by the Electric Car Discount, which exempts eligible EVs from Fringe Benefits Tax (FBT). This makes the transition to electric driving not only environmentally friendly but also financially smart.
Additionally, EV drivers benefit from lower running costs, such as reduced servicing and charging expenses, further enhancing the appeal to go electric.
PHEV Savings:
Mitsubishi Outlander PHEV ES ZM
RRP: $62,633.
Novated Lease Price: $56,939.
Weekly price on a novated lease: From $158 + on road costs.
With a novated lease, you can save nearly $5,700 on the most popular choice for plug-in hybrid enthusiasts.
The Electric Car Discount also applies to PHEVs but only until April 1, 2025, making now the perfect time to secure your savings.
This plug-in hybrid option allows you to enjoy the benefits of electric driving without range anxiety, giving you flexibility for every journey. Additionally, the lower upfront costs and fuel savings make the Mitsubishi Outlander a practical choice for eco-conscious drivers.
Petrol Engine Savings:
Ford Ranger Sport
RRP: $71,075.
Novated Lease Price: $64,741.
Weekly price on a novated lease: From $279 + on road costs.
Choosing a novated lease for the Ford Ranger Sport means saving over $6,300 compared to the RRP.
This iconic vehicle combines power and reliability, making it ideal for work or leisure. Even with an internal combustion engine, novated leasing allows you to take advantage of significant cost reductions through tax savings and fleet discounts.
Additionally, bundling running costs like fuel, servicing, and insurance into one easy payment simplifies budgeting for busy drivers.
Why Choose Novated Leasing?
Novated leasing isn’t just about upfront savings. Here are some other key cost-saving benefits.
Income Tax Savings: Pay for your car and its running costs with pre-tax income, reducing your taxable income and saving on income tax.
GST Savings: Avoid paying GST on the purchase price of your car and its running costs, making novated leasing the most tax-effective way to own a vehicle.
Fleet Discounts: With over 30 years industry experience, Remunerator's Australia-wide dealer network ensures you get the best price on your car.
Bundled Costs: Enjoy simplified budgeting with one easy payment that covers finance, fuel, servicing, insurance, and registration.
This streamlined approach not only helps you save money but also eliminates the stress of vehicle ownership.
Ready to Save?
Whether you’re going green with an EV, opting for the hybrid versatility of a PHEV, or sticking with a trusted ICE vehicle, novated leasing delivers real value. Don’t just take our word for it—experience the savings for yourself.
Request a quote today and drive away with more money in your pocket!
Disclaimer: Weekly costs are based on an annual salary of $100,000, a 60-month lease term, and 15,000km driven annually in Victoria. Actual costs will vary based on individual circumstances. RRP includes on-road costs and government charges.
The information supplied on this page is provided as an information guide only. It contains Remunerator (Aust) Pty Ltd ACN 074 423 966 interpretation of the current Tax Legislation which is subject to change at any time without notice and should not be relied on as a substitute for legal or other professional advice. Example uses income tax rates effective 1st July 2024.