The end-of-year plate clearance sales aren’t just about discounted prices—they’re also a golden opportunity to embrace the electric revolution.
With electric vehicles (EVs) more affordable than ever and unique tax benefits available, now’s the perfect time to make the switch.
But don’t wait too long—some of these benefits, including the Fringe Benefits Tax (FBT) exemption for plug-in hybrid electric vehicles (PHEVs), are set to expire soon!
Why End-of-Year Sales Are Perfect for EV Buyers
During end-of-year sales, dealerships offer significant discounts to clear out current-year models and make room for new stock. For EV buyers, this means:
- Lower Purchase Prices: Clearance pricing reduces the initial cost of EVs, making premium models more accessible.
- Greater Affordability with Novated Leasing: Combine discounted prices with novated leasing benefits, like pre-tax salary deductions, and you’re looking at substantial savings.
When you combine clearance pricing with government incentives, the savings multiply—making EV ownership easier than ever.
The Electric Car Discount
The Australian Government’s Electric Car Discount Scheme eliminates FBT on eligible EVs priced below the luxury car tax threshold ($91,387 for FY2024-25). This applies to battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs), significantly reducing the cost of novated leasing.
For employees, novated leasing allows payments for lease costs, running expenses, and maintenance to be made from your pre-tax salary. This can lead to substantial tax savings, making EV ownership not only sustainable but also financially rewarding.
Why drive an EV with a Novated Lease now?
1. Clearance Pricing Meets Tax Savings
End-of-year sales slash prices on many EVs. Combining these discounts with the benefits of novated leasing means you can drive a state-of-the-art vehicle while keeping more money in your pocket.
2. PHEV Benefits Expiring Soon
While full battery EVs remain eligible for the FBT exemption, PHEVs won’t be as lucky. The current exemption for PHEVs will end on 1 April 2025, and vehicles purchased after this date will no longer qualify for the same tax advantages.
If a PHEV is on your wish list, the combination of end-of-year discounts and the limited-time FBT exemption creates a perfect opportunity to act now.
3. A Sustainable Choice
By choosing an EV, you’re not just saving money—you’re also contributing to a greener, more sustainable future. With lower running costs and no emissions, EVs are better for your wallet and the planet.
Drive Into the Future with Confidence
Don’t let the plate clearance sales or government incentives pass you by. Whether it’s a fully electric vehicle or a PHEV, there’s never been a better time to take the leap.
Ready to make the switch? Contact us today for a free quote on novated leasing and drive into 2025 with a cleaner, greener car—and more money in your pocket.