Welcome to everything Tesla Novated Lease

All of the Tesla vehicles below can be Salary Packaged 100% Tax Free on a Novated Lease. Click on any of the vehicles below to get more detail and useful links. We’ll update this list as soon as more models become available.

Below the calculator is all the information you’ll need to know on owning and leasing one of these magical Tesla vehicles.

For even more information you can talk to one of our Novated team members that own a Tesla and have learnt everything you’ll need to know from experience.

What’s the Tesla Ownership Like?

  • The Tesla ownership experience is often described as unique and different from traditional car ownership. Here are some aspects that Tesla owners frequently highlight:
    1. Electric Performance: Tesla vehicles are known for their impressive acceleration and smooth, quiet electric powertrain. The instant torque provided by electric motors makes for a thrilling driving experience.
    2. Range and Charging: Tesla cars offer a substantial electric range compared to many other electric vehicles. They have an extensive network of Supercharger stations worldwide, allowing for convenient and fast charging on long journeys. Additionally, home charging solutions, such as Tesla’s Wall Connector, enable owners to charge their vehicles overnight.
    3. Autopilot and Full Self-Driving: Tesla vehicles come equipped with advanced driver-assistance features known as Autopilot. These capabilities include adaptive cruise control, lane centering, and automatic parking. Tesla is also actively developing Full Self-Driving (FSD) technology, aiming to achieve fully autonomous driving in the future.
    4. Over-the-Air Updates: Tesla cars receive regular software updates, often delivering new features, performance improvements, and bug fixes. These updates are delivered over the air, allowing owners to enhance their vehicles’ capabilities without visiting a service center.
    5. User-Friendly Technology: Tesla’s vehicles feature large touchscreens and a minimalist interior design. The interface is intuitive and user-friendly, offering access to various vehicle settings, entertainment options, and navigation features. The touchscreen also provides information on charging locations, energy consumption, and more.
    6. Service and Support: Tesla’s approach to service and support is somewhat distinct. They have service centers in various locations where owners can schedule maintenance or repairs. Additionally, Tesla offers mobile service in select areas, where technicians visit the owner’s location for certain repairs or inspections.
    7. Community and Enthusiast Culture: Tesla has cultivated an active and passionate community of owners and enthusiasts. Many Tesla owners enjoy connecting with others through online forums, social media groups, and organized events. This sense of community often adds to the overall ownership experience.

    Please note that experiences can vary based on individual preferences, geographical location, and specific Tesla model owned. However, these aspects generally contribute to the unique and exciting ownership experience often associated with Tesla vehicles.

Tesla Model 3

The Tesla Model 3 includes the entry-level sedan sold by Tesla in Australia and is the most affordable model in Tesla’s lineup starting from $64,201. Here are some key features of the Model 3:

  1. Electric Motor/s: The Model 3 is powered entirely by electricity. It does not have an internal combustion engine and relies on an electric motor and a battery pack for propulsion.
  2. Range: The Model 3 comes in several configurations with varying range capabilities. The range depends on the battery option chosen. The Model 3 comes in three options Standard Rang Plus, Long Range, and Performance models. The range of these models varies from 423 to 568 kilometers.
  3. Performance: The Model 3 offers impressive acceleration. The higher-performance versions, such as the Performance and Long Range variants, can accelerate from 0 to 100 km per hour in under 4 seconds, as fast as most supercars.
  4. Autopilot and Full Self-Driving Capability: Tesla vehicles, including the Model 3, come with advanced driver-assistance features known as Autopilot and include adaptive cruise control, lane centering, and automated parking. Additionally, you can choose to order the Full Self-Driving (FSD) option.
  5. Interior and Technology: The Model 3 has a minimalist interior design with a large touchscreen display in the center of the dash. This display houses all vehicle functions, including climate control, media playback, navigation, and Autopilot settings.
  6. Safety: The Model 3 has a 5 Star ANCAP safety rating in Australia. It incorporates safety features like advanced driver-assistance systems, collision avoidance technology, and an extensive suite of sensors.
  7. Charging: Model 3 owners can charge their vehicles at home using a standard electrical outlet or a dedicated home charging station for faster charging. Additionally, Tesla has an extensive Supercharger network, which allows Model 3 owners to access high-speed charging infrastructure at various locations worldwide.

Please refer to the Australian Tesla website for more updated and detailed information on this Model.

Information about our EV Novated Lease Calculator

New government legislation aims to use Novated Leasing to make EV’s as affordable as possible. However the main question still needs to be answered, “What is this car going to cost me out of my take home pay?”. A good Novated Lease calculator will provide this information up front. 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 $84,916.

But what does all this mean?

When looking at any Novated Lease calculator it is important to understand what is included and importantly what is not included. On a Novated Lease calculator the provider can change the way fuel/charge, tyres and scheduled services are calculated which will reduce the amount allocated to the running costs to make their quotes look cheaper, but in the end you could be paying a lot more. It is very important to understand what is in each of the running cost budgets and how they are calculated.

The Calculations

Charge Allocation (Was the old fashioned fuel)

In our Novated Lease calculator we have included an allocation of $750 per year for charging your vehicle. This can be changed prior to starting the lease or at any point during the lease term depending on usage.


In a Novated Lease calculator a tyre budget is a little harder to estimate simple because tyre prices can vary so much depending on the type of tyre the driver wants, for example a lower profile tyre maybe more expensive, but important to the vehicle driver. In our Novated Lease calculator we research an average cost for each of the vehicle categories we use. We simple 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 15,000kms 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.


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 EV’s in general require less serving so we have set an allocation of $350 per year.

Registration and Insurance

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


The finance is on a standard novated lease calculation with a few small 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 are wanting to take a 5 year (60 month) lease then there will be 60 payments, however the 1st and 2nd month 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 prior to the first real payment is due.
  2. The first years Comprehensive Car Insurance can be financed if required. This means that you never have to come up with the cash for your insurance. When the insurance fall due again in 12 months simple 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 call the residual value or the final value (for tax purposes). The ATO allow you to pay for your car through your employer. This arrangement saves you take and is very convenient to run. However for tax purposes only, because your employer is paying for the car from money deducted from your salary you can’t get any equity in this vehicle. That means it needs to be paid back to a realistic market value at the end of the lease.

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

The residual value is a ATO set percentage based on the lease term, but has a buffer of approximately 5% either side of required rates. Please read a more details 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 normal car loan? To get a true comparison of the difference between a loan and a lease please read our article by clicking HERE.

Finance Approval Conditions

After you have finished used our Novated Lease Calculator and being happy that you can afford the deduction from your salary the next step is getting the finance or lease approved. In general getting a Novated lease approved is a little easier than normal finance. The reason for this is simply 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 is going to be repaid.

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

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

However if you have any questions regarding the numbers or would like to discuss the process please feel free to call us during office hours on 1300 990 880 or click the button below to send us an enquire form.