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.