Novated leasing can save money in the long run when purchasing traditional cars; plus, with FBT exemption on eligible Tesla Model Y variants that fall below the Luxury Car Tax threshold of $84,916, you may see more significant savings!
Benefits
Opting for a Tesla through a NovatedEV Tesla novated lease can be an excellent way to enjoy this car without spending a considerable amount. By saving on both purchase prices and ongoing running costs, such as fuel, registration, insurance, tyres, maintenance and servicing, you will enjoy more savings and may even reduce emissions!
Tax benefits of leasing a Tesla are many, as you’ll be salary packaging your payments from pre-tax income, lowering taxable income and saving GST. Furthermore, fringe benefits tax (FBT) exemptions may apply to electric vehicles priced under $84,916, potentially saving on FBT.
However, depending on your country’s tax laws, you may also qualify for other deductions and credits, including discounts on the vehicle price or rebates for its carbon emissions. Novated leasing can be an ideal solution for those wanting an environmentally-friendly vehicle but unable to afford upfront expenses associated with buying or financing a Tesla; its online application makes the process simple; however, it must be noted that to qualify for one you must be employed full time – in which case novated leasing may not be an option for them.
Tax savings
Novated lease packages for Tesla cars provide many tax benefits over traditional loans, including payments taken out of pre-tax salary to reduce taxable income and the vehicle cost being GST-free – making monthly payments more manageable and budgeting more straightforward. Furthermore, fixed interest rates simplify budgeting considerably! Before signing your novated lease contract for a Tesla vehicle, you must read it thoroughly. Some lease contracts may have terms such as driving certain miles per year or having other terms that may prove costly if not appropriately fulfilled.
With these savings combined with the Government’s EV Discount policy, you could save more with a Tesla. Under this program, novated leases for eligible low- and zero-emission vehicles qualify as being FBT exempt up to the Luxury Car Tax threshold of $84,916, which could save thousands both on the purchase price and eligible running costs.
With a NovatedEV Tesla novated lease, you’ll enjoy all its features and technologies while upgrading to new models without selling old vehicles or paying insurance premiums.
Flexibility
An electric Tesla can be leased in several ways; however, a novated lease offers the greatest cost savings. Aside from potential tax benefits, this form of leasing allows you to include any costs related to running it, such as fuel, registration and insurance, into the monthly payment.
A NovatedEV Tesla novated lease offers more flexibility than bank loans and won’t leave you in debt. Payments for this option are taken directly from your salary before becoming taxable income, eliminating any worry over paying back later on and covering fuel and maintenance expenses for your car.
Novated leases also provide another advantage: FBT exemption. It could save thousands in running costs as well as potentially lower the purchase price of your vehicle.
Buying a Tesla
Electric cars can be great for the environment and exciting to drive; however, their price tags may make many drivers question whether these vehicles are worth their cost. Let’s examine some of the benefits of owning a Tesla and see if investing extra in one might pay off in spades!
One of the primary advantages of buying a Tesla is the potential savings on fuel costs. Their MPGe ratings can save thousands each year. Furthermore, Teslas don’t require as much maintenance as gas-powered vehicles – such as oil changes, filters or spark plugs being changed regularly; additionally, they have regenerative braking systems that return energy to their batteries, significantly reducing brake wear.
Tesla vehicles feature an innovative feature that allows owners to update their vehicle’s software with new features as they become available – ensuring you always have access to the newest and greatest features without ever having to buy another car! This technology is even used on commercial vehicles to increase safety and efficiency.