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KIA EV5
Compare Savings by Variant
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Kia’s bold, family-ready electric SUV built to rival the Model Y
The Kia EV5 arrived in Australia in late 2023 and quickly established itself as one of Kia’s standout electric models, offering big EV9-inspired styling in a smaller, more affordable package. It delivers modern looks, strong efficiency and everyday practicality at a price point that feels close to petrol SUVs — but with far better value.
Make the EV5 yours the smarter way — bundle everything, save on tax and just sit back and enjoy electric driving.
Electric performance in a well-rounded package
Designed for families and commuters who want a stylish, future-focused EV, the EV5 packs in generous interior space, clever storage, flexible seating and user-friendly tech. It brings a premium, comfortable cabin without the luxury-car price tag, making it ideal for growing families, urban drivers and just about anyone wanting an easy transition into electric.
Does the Kia EV5 qualify for the FBT exemption?
Most EV5 variants qualify for Australia’s EV FBT exemption as long as the price stays under the LCT threshold. This makes a novated lease far more cost-effective than paying upfront or using a traditional car loan.
In Australia, the EV5 lineup offers multiple battery options, including long-range variants with solid charging speeds for quick top-ups on the go. Competing in a fast-growing electric SUV category, it stands out as a well-priced, feature-packed alternative to the Tesla Model Y, Hyundai Ioniq 5 and BYD Seal U.
Run the Kia EV5 numbers with our novated lease calculator or chat with our team for a personalised savings breakdown.
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The information you share is used for the purposes of an estimate. In many cases your final quote is less than what is shown here based on your personal circumstances.
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.
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.
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.
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.
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Is there a minimum income for a Kia EV5 novated lease?
There’s no strict minimum income required for a Kia EV5 novated lease. Approval works similarly to standard finance — lenders simply look at your ability to manage repayments based on your income, living costs and financial commitments. Even moderate incomes can qualify, as long as repayments fit comfortably within your budget.
What happens if I change jobs during my Kia EV novated lease?
If you change jobs, your novated lease doesn’t disappear. You just need to re-novate it with your new employer. Most employers are happy to support this, and the process is usually simple. If your new employer doesn’t offer novated leasing, the lease continues in your name like a regular car loan until you arrange the next steps. We can always help your new employer get set up with Leaselab, so you don’t have to worry about anything changing.
How does the EV5 compare with the Tesla Model Y?
The Tesla Model Y wins on software and acceleration, but the EV5 is often cheaper to lease thanks to a lower purchase price.
The Kia EV5 focuses on comfort and value. It offers a more spacious rear cabin, making it better suited for passengers, and it is more affordable upfront. Thanks to its lower purchase price, the EV5 also typically comes with a lower weekly novated lease cost.
The Tesla Model Y, by comparison, leans more towards technology and efficiency. It delivers better driving range on a single charge and comes with more advanced software, particularly in its infotainment system and driver-assistance features.
How does the EV5 compare with the BYD Seal ?
While the EV5 and BYD Seal are known as great family EVs, the EV5 offers a more premium interior feel and better brand reputation. BYD Seal pricing is competitive, though Kia’s servicing network is broader. When looking at your novated leasing costs alone, both sit around the same price point, but long-term confidence and resale look favourably on Kia compared with BYD. Compare all our cars to find the right one for your family today.
How long does approval take for an EV5 novated lease?
Most drivers receive finance approval quickly once documents are submitted. Vehicle delivery times vary depending on stock, but novated leasing removes admin stress because repayments, running costs and budgeting are handled automatically through salary packaging.
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