Polestar.

Polestar 2

• Described as a premium electric fastback, every detail of the Polestar 2 is designed to be quietly distinctive, and its clean, spacious environment pairs avant-garde styling with innovative materials. Polestar 2 makes every moment behind the wheel easier and safer with intuitive software, smart collision avoidance systems and seamless connectivity.
• It comes from a production plant where 100% of the energy used is renewable, and its climate impact has been reduced further by a move to low-carbon aluminium wheels and battery casing.
• The material in the car is free from animal products and water-based – not solvent-based – and designed to be like a wetsuit, so everything wipes off. With the help of chemical experts and design engineers, we reduced the amount of plasticiser to 1%, compared to an industry standard of 35-45%.
• Polestar 2 was the first vehicle globally to be equipped with Android Automotive OS with Google built-in. As part of Polestar’s digital-first thinking, customers benefit from Over-The-Air (OTA) updates like your mobile phone.
• Polestar 2 can be paired to your phone as a Digital Key and the Polestar app (beta) as part of the ownership experience. The app allows users to manage functions such as pre-heating or cooling the vehicle, locking, and checking the charging status.

Polestar is not just another EV

Polestar is a Swedish car company leading the way in creating 100% electric cars that deliver incredible performance, whilst reducing the environmental impact.

Each year, Polestar publishes a lifecycle assessment report on the Polestar 2 and shares the methodology with the industry. The report demonstrates that EVs have a long way to go before production becomes sustainable – but you must start somewhere!

A survey last year shows one third (34%) of Australian consumers support a ban on new sales of petrol and diesel cars by 2030, and 44% of Australians intend to drive an electric vehicle within the next 10 years.

For example, Polestar was the first car maker globally to use Blockchain technology to trace the Cobalt in its batteries.

As a brand, transparency sets Polestar apart. Polestar is committed to tracking and reporting on the impact of its supply chain by monitoring its CO2 emissions and ethically sourcing risk minerals and materials.

Australia recently joined the global call-out to universities and clever, innovative companies who could help us on our journey.

Polestar’s moonshot goal is to produce the world’s first truly climate-neutral vehicle by 2030, currently dubbed the Polestar 0 Project.

Information about our EV Novated Lease Calculator

New government legislation aims to use Novated Leasing to make EVs as affordable as possible. However, the main question remains: “What will this car cost me out of my take-home pay?” A good Novated Lease calculator will provide this information upfront. Vehicle Solutions’ Novated Lease calculator tells you in seconds the cost to your take-home pay for any vehicle value you enter up to the FBT-exempt amount of $91,387.

But what does all this mean?

When looking at any Novated Lease calculator, it is essential to understand what is included and what is not. On a Novated Lease calculator, the provider can change how fuel/charge, tyres and scheduled services are calculated, reducing the amount allocated to the running costs to make their quotes look cheaper. Still, you could be paying a lot more. Understanding what is in each running cost budget and how they are calculated is essential.

The Calculations

Charge Allocation (Was the old fashioned fuel)

Our Novated Lease calculator includes $750 per year for charging your vehicle. Depending on usage, this can be changed before starting the lease or at any point during the lease term.

Tyres

In a Novated Lease calculator, a tyre budget is a little more complex to estimate simply because tyre prices vary depending on the tyre the driver wants. For example, a lower-profile tyre may be more expensive, but it is crucial to the vehicle driver. In our Novated Lease calculator, we research the average cost for each vehicle category we use. We simply apply this cost to an average tyre change time period, and the budget is set.

(Average cost of a tyre X 4) = Cost of a set of tyres.

Your annual kms travelled X the lease term in years = Total KMs

Total KMs/35,000kms (average tyre change period) = Sets of tyres required.

Sets of tyres required X Cost of the set/years of lease = Total tyre budget per year.

Example: Mary drives 15,000 km per year and is about to start a 5-year lease. The cost of a set of her tyres is $850.

15,000 X 5 = 75,000kms /35000 = 2.14 sets of tyres X $850 per set = $1,819/5 years = $363.80 per year.

Maintenance

Most cars need a service every 10,000 to 15,000km, and the cost of this service depends on the type of vehicle you choose. However, EVs generally require less servicing, so we have allocated $350 annually.

Registration and Insurance

For registration and insurance renewals we use an estimate again depending on the type of vehicle chosen.

Finance

The finance is on a standard novated lease calculation with slight variations.

1. The lease is two months in arrears. This means that the payments for the first two months are $0.00. These payments are spread over the balance of the lease term. For example, if you want to take a 5-year (60-month) lease, there will be 60 payments. However, the 1st and 2nd months will be $0.00 and then 58 payments of $400, for example. This structure allows the Salary Packaging company, such as Vehicle Solutions Australia, to establish the service, including the payroll deductions, and collect several deductions before the first payment is due.
2. The first year of Comprehensive Car Insurance can be financed if required. This means you never have to come up with the cash for your insurance. When the insurance is due again in 12 months, simply send in the renewal, and the Salary Packaging provider can pay this out of the funds in your Novated Lease account.

Residual Value

There is always a lot of talk about the balloon payment that falls due at the end of your lease. This is called the residual or final value (for tax purposes). The ATO allows you to pay for your car through your employer. This arrangement saves you time and is very convenient to run. However, because your employer is paying for the car from money deducted from your salary, you can’t get any equity in this vehicle for tax purposes only. That means it needs to be paid back to a realistic market value at the end of the lease.

GOOD NEWS! Your repayments are cheaper during the lease term because there is a residual value at the end. Most people use these cheap finance payments to get into a more expensive car.

The residual value is an ATO-set percentage based on the lease term, but it has a buffer of approximately 5% on either side of the required rates. Please read a more detailed article and view the ATO-set percentages by clicking HERE.

Loan or Lease

For most people, buying a car means they need some form of finance. One of the most common questions is, wouldn’t I be better off putting the car on a standard car loan? To accurately compare the difference between a loan and a lease, please read our article by clicking HERE.

Finance Approval Conditions

After you have finished using our Novated Lease Calculator and are happy that you can afford the deduction from your salary, the next step is getting the finance or lease approved. Getting a Novated lease approved is easier than regular finance. This is because the financier is getting the repayments directly from your employer before you even get taxed. This gives the financier more confidence that their loan will be repaid.

To get a pre-approval started click HERE. The pre-approval will provide you with approval in principle for the vehicle you choose. This approval is not binding, and we have never put any pressure on you to use this approval. The approval will give you a better negotiating position in the vehicle purchase. People ready to buy and have the funds in place can request a cash price for immediate delivery.

We hope you have found our Novated Lease Calculator and information on each aspect of the calculator helpful.

However, if you have any questions regarding the numbers or want to discuss the process, please call us during office hours at 1300 990 880 or click the button below to send us an enquiry form.

What is Polestar, and what makes its vehicles unique?

Polestar is a 100% Swedish EV maker founded to gain performance with sustainability in its cars. The Polestar vehicle is exclusive, as it heralds distinctive lines,” unconventional materials, and environmentally friendly manufacturing processes, such as renewable energy sources during production and using low-carbon materials. The brand upholds transparency and ethical sourcing of materials.

Can I salary-package a Polestar vehicle in Australia?

100% yes, Polestar, including its offering model Polestar 2, 3 and some models of the new 4 can be salary-packaged under a Novated Lease tax-free in Australia. This enables employees to purchase a Polestar at a reduced price using pretax income. One of them, Vehicle Solutions Australia, offers a Novated Lease calculator that helps determine costs.

What features does the Polestar 2 offer?

The Polestar 2 is an upscale electric fastback with a roomy, simple interior and a straightforward sustainability ethos. It uses Android Automotive OS with Google built-in, Over-The-Air updates and added safety features such as a collision avoidance system. A Digital Key is a car’s features that can be controlled via an app called Polestar to lock the car, view the charging status, and pre-heat or cool the vehicle.

How does the Polestar 2 contribute to environmental sustainability?

Polestar has committed itself to reducing its environmental impact with several innovations. The Polestar 2 is manufactured in a plant that only uses renewable energy sources. It uses low-carbon aluminium wheels and battery casings. The materials on the inside are animal-friendly, water-based, and not solvent-based, so they’re very low-fraction compared to industry norms in the usage of plasticisers.

What is the Polestar 0 Project, and how does it relate to the brand’s future goals?

Polestar recently announced the Polestar 0 Project to produce the world’s first truly climate-neutral vehicle by 2030. This dream could eliminate all emissions from vehicle creation and use. The brand keeps up its commitment to sustainability by being transparent in lifecycle assessments and tracing the ethical sourcing of materials like cobalt for its batteries.