A novated lease is a three-way agreement between the employee, their employer and a finance company. The employee leases a vehicle from the finance company, and the employer agrees to make the lease payments on behalf of the employee from their salary. The big bonus for people looking at an Electric car is that the entire payment for the vehicle and all running costs comes out of the employees salary before tax.
Other Benefits of Owning an Electric Car
Electric cars have lower running costs because they use electricity instead of petrol or diesel. This means that the cost of charging an electric car is significantly cheaper than filling up a petrol or diesel car. Additionally, electric cars are attract some significant state government rebates making them even more affordable.
Overall, a novated lease can be a great way to access an electric car, as it provides a cost-effective way to finance the vehicle while also taking advantage of the benefits of electric cars.
To find out how affordable an electric car could be for you try our calculator below.
Vehicle Solutions Australia provides Novated leases to both private and government employees throughout Australia. This includes most Federal and State Government departments. The most important aspect is understanding how Novated Leasing works and where the savings come from. Our personal one on one service ensures we’re always there to answer your questions.