What sets a novated lease apart from a regular car loan? It's all in the tax savings. With a novated lease, you skip the GST on the purchase price and make payments from your pre-tax salary, helping you hold onto more of your income. By contrast, car loans are paid with after-tax dollars and will have you paying GST. This is the reason why many novated leases come out cheaper than car loans.

Near the end of your novated lease, your provider will send through a payout summary, including the residual value of your car. That’s the figure you’ll need to settle if you’d like to keep the keys for good. You can choose to buy the vehicle, roll the residual into a new lease term, or start fresh with a different car entirely. It’s all up to your preferences and financial goals.

Many Aussies prefer 2-5 years for the flexibility. Longer terms reduce monthly payments, while shorter ones give you the chance to upgrade sooner. The best way to decide is to work out a realistic budget based on your lifestyle and plans.

Leasing an MG EV generally lowers running costs compared to petrol or mild-hybrid MGs. Electricity is cheaper than fuel, maintenance is simpler with fewer moving parts, and bundled lease options allow insurance, servicing and registration to be included. This makes budgeting easier and provides predictable monthly expenses while enjoying low-emission driving.

Yes, most MG novated leases can be transferred to a new employer, keeping your vehicle and tax benefits intact – we can even help them get set up with us if they’re not already. If a transfer isn’t possible, options such as early payout, refinancing or selling the lease are available. Leaselab helps guide you through these alternatives to ensure flexibility.

MG hybrids offer competitive fuel efficiency that often rivals Toyota or Hyundai models in similar segments. Their lighter design and efficient powertrain help lower fuel use, especially in city and suburban driving. Combined with novated leasing, this translates into predictable running costs and tax-effective monthly payments.

Yes, the MG4 EV boasts a more efficient powertrain, consuming approximately 16.6 kWh per 100 km, compared to the BYD Atto 3's 16.0 kWh per 100 km. This translates to slightly better range and lower running costs for the MG4 EV, making it an attractive option for cost-conscious drivers.

For city driving, the MG4 EV's compact size and efficient powertrain make it an excellent choice, offering agility and lower running costs. While the Hyundai Ioniq 5 offers more space and premium features, the MG4 EV provides a more economical option without compromising on essential EV benefits.