Electric Car Novated Lease

With our expert guidance and bespoke novated leasing options, we’ll formulate the perfect deal to maximise your savings and tax benefits, so you can drive a state-of-the-art electric vehicle at an unbeatable price.

Now is the best time to get an electric vehicle

On 1st July, 2022, the Australian government introduced the Electric Car Discount, which made electric vehicles more affordable than ever. To simplify it, if you buy an electric vehicle that’s under the luxury car tax threshold of $91,387 (FY25-26), then the Australian government exempts you from paying any fringe benefits tax (FBT).

Thousands in additional savings each year 

Pay for your EV (including running costs!) using your pre-tax salary, saving you up to 57% compared to other purchasing options. Using a real example, that’s about $13,300 annually on a Tesla Model 3 over four years.

Electric

What electric vehicles are FBT-free under a novated lease?

  • EVs and hydrogen cars below the LCT cap ($91,387 in FY25/26) are fully exempt from fringe benefits tax.
  • To qualify, the car must be a passenger vehicle weighing under one tonne.
  • Pre-owned models can qualify too, if they were first used after 1 July 2022.
Electric

What are the most popular novated leases for electric cars in Australia?

More Aussies than ever are making the switch to electric, with Teslas like the Model Y and Model 3 still leading the charge. But they’re not the only ones on the road. BYD is growing fast, offering the Seal, Dolphin and Atto 3. These are great options if you’re after affordability and smart design. 

Other favourites popping up in novated leases include the Polestar 2 and MG4. And for something more premium, there’s the Kia EV6, BMW iX1 and Mercedes-Benz EQA 250, perfect if you want all the tech and luxury in an EV that matches your lifestyle.

Electric

Lease

$75,854

Outright

$107,420

Loan

$125,167

Electric

The savings speak for themselves

With an FBT-exempt vehicle, you’re paying 100% of the cost of leasing and running your car pre-tax, leading to some pretty significant savings. You also avoid paying GST on the car and other car-related expenses. Getting an electric through a novated lease can save you tens of thousands of dollars compared to purchasing it outright or using a traditional car loan. As far as no-brainers go, this would be right up there.

Novated Leasing with Electric Vehicles

Good for the environment, good for your wallet. Discover how you can get a brand new electric vehicle and save 45% on average compared to traditional financing.

What is a novated lease?

A novated lease is an innovative way to finance your vehicle through a three-party agreement involving you, your employer, and a car finance provider. It allows you to pay for your car from your pre-tax salary, leading to significant tax savings and a streamlined car ownership experience.

Save thousands in tax

Bundle your car and running costs into one pre-tax salary deduction, saving thousands annually and tens of thousands over the lease's lifetime.

Get a better car for less money

Save up to $6,334 on the GST component of the car's price, making it easier to afford a better car and maximising your budget.

No bill shock

Turn annual car-related expenses into even monthly payments, preventing unexpected costs that can disrupt your budget.

Include running costs

Add fuel, servicing, insurance, and more to your lease package, all paid pre-tax, increasing your savings on everyday costs.

Fixed monthly payments

Enjoy predictable, fixed payments over the lease term, helping you manage your finances with confidence.

Managed by us, for you

We handle all aspects of your lease, from processing expenses to providing transparent account reporting, ensuring hassle-free management.

The Process

How It Works

A novated lease is a way to pay for your car and its running costs using your pre-tax income, which in the eyes of the ATO reduces your total salary and therefore the amount of tax you pay. It sounds simple, but it’s a total game-changer. Here's how it works in three simple steps.

1

You + Your Vehicle

Found the car you want? Perfect. Now, instead of you paying for your car outright, you enter into a lease agreement for the car for a fixed period between 1 - 5 years.

2

You + Your Employer

An agreement is set up between you, your employer and us. Then, your deductions for the lease (including running costs too, if that's what you want) are made by your employer from your pre-tax income. And that reduces the income tax you pay each pay cycle. Plus, your deduction amount is fixed, so you know what you’re paying for your car each month.

3

You + Leaselab

With a direct line of communication through a dedicated relationship manager, we'll help you navigate any challenges right the way through your lease. Whether it's today or five years from now, we promise you’ll always have the same level of help and service all the way through to the end of your lease.

About Leaselab

We work hard to make the complex world of novated leasing easy and accessible for everyone. This is part of our long-standing goal to reinvigorate the novated leasing industry with a focus on service and quality. We are here to do the right thing for our customers.We live and breathe novated car leasing and are ready to provide you with personalised guidance so that you're informed every step of the way.As we always say: It’s a new lease on novated leasing.

Why choose Leaselab for your novated lease?

We work hard to make the complex world of novated leasing easy and accessible for everyone. This is part of our long-standing goal to reinvigorate the novated leasing industry with a focus on service and quality. We are here to do the right thing for our customers.

We live and breathe novated car leasing and are ready to provide you with personalised guidance so that you're informed every step of the way.

100+

years of combined experience in novated leasing

97%

Customer satisfaction rating

99%

of reviews are 5 stars

How we stack up against the competition

We believe everyday Aussies deserve a smarter way to buy a new ute. That's what grounds our commitment to customer success. And it's why we always act in the best interests of our clients by providing trustworthy education and guidance, even (and especially when) it’s difficult.

Total Transparency & Easy Access

See all your lease details at any time, with a simple, intuitive online portal.

Multiple Lender Options, Competitive Rates

Choose from a range of lenders to get the best deal for you.

Super Short Support Wait Times

Speak to a real person in under a minute, on average.

Rapid Reimbursements

Get your money back fast—usually within 2–3 business days.

Dedicated Account Manager

Enjoy personal service from your own account manager, for the life of your lease.

Exclusive Employee Benefits

Access extra perks and benefits beyond your lease, at no extra cost.

Our Happy Customers

We've saved thousands, for thousands

Rated 5/5 based on 141 Google reviews

Frequently Asked Questions

What happens when my EV lease ends?

At the end of your lease, you can either pay out the residual to own the car, refinance the remaining amount or return the vehicle. We’ll guide you through each option so you can choose what suits your lifestyle and finances best, with no surprises. You can even lease one of the latest EV models through a new novated lease if you’re ready for a refresh.

What running costs can I include in an EV novated lease?

You can package nearly all vehicle-related expenses pre-tax: lease repayments, rego, insurance, servicing, tyres and charging. This streamlines your budgeting and helps to effectively lower your taxable income, letting you drive an EV for shockingly less than you’d expect.

How do I get reimbursed for charging at home or in public?

Home charging costs can be claimed based on a per-kilometre rate set by the ATO, while public charging can be reimbursed by uploading receipts. It’s simple and transparent – and we’ll show you how to do it step-by-step.

What costs aren't covered in an EV novated lease?

Only personal expenses like traffic fines, tolls (unless work-related) and non-vehicle-related costs are excluded. Everything else – from tyre changes to roadside assistance – can typically be bundled into your lease.

How long should I lease an electric vehicle for?

Most EV novated leases run between 2 to 5 years, depending on what suits your budget and employment status. A longer term generally lowers your monthly costs, while shorter terms give you flexibility if you're planning a lifestyle or job change.

Can I still receive state EV incentives through a novated lease?

In most cases, yes. State government EV rebates can still apply if your novated lease meets eligibility criteria. We’ll help you check if your lease qualifies, so you don’t miss out on any savings or subsidies available in your state or territory.

What kind of interest rate applies to an EV novated lease?

Rates vary based on your credit profile and lease term, but they’re typically competitive compared to personal loans. Plus, with the tax benefits and FBT exemption, your effective cost is significantly lower overall, and we’ll show you the exact numbers. To see an estimate of your payments, crunch the numbers yourself with our novated lease calculator.

What insurance is required for my EV lease?

Comprehensive insurance is mandatory, and the premium can be packaged into your lease to reduce out-of-pocket costs. We can also connect you with EV-friendly insurers who offer tailored coverage for electric vehicles, including battery and charger protection.

Can I include the cost of a home EV charger in the lease?

Yes – in most cases, the cost of purchasing and installing a home charger can be bundled into your lease agreement. It’s a smart way to spread out the upfront expense and enjoy fast, convenient charging at home from day one.

What if my employer doesn’t offer novated leasing yet?

No worries – we’ll work directly with your employer to set up a simple, compliant novated lease program. There’s no upfront cost for them, and we handle the admin. All you need to do is put us in touch with your payroll or HR team. Best of all, it’s simple for employers to set up with almost no paperwork, and it’ll cost them nothing out of pocket.

Can I get a novate lease on a used electric vehicle?

Yes – used EVs are eligible as long as they were first registered after 1 July 2022 and meet the criteria for FBT exemption. This can be a great way to save even more while still accessing the benefits of an electric novated lease.

What if I change jobs during the lease term?

You can transfer your lease to your new employer if they offer novated leasing. If not, you can take over the lease as a personal loan or discuss early termination options. We’ll support you with the most cost-effective transition.