🚗 Novated Lease Calculator (EV)
Simplified calculator for electric vehicle novated leases. See your take-home pay impact and balloon payment. Note: actual costs depend on FBT exemptions, running costs, insurance, and your employer's package.
Retail price of the EV (before on-road costs)
Typical: 20-40%. Higher balloon = lower repayments but bigger lump sum at end
Typical novated lease rates: 5.5-7.5%
Includes charging/fuel, servicing, tyres, rego, insurance. Typical EV: $4,000-6,000/yr
What is a novated lease?
A novated lease is a three-way agreement between you, your employer, and a finance company. Your employer deducts lease payments from your pre-tax salary, reducing your taxable income. At the end of the lease term, you can pay the balloon amount to own the car, refinance it, or return it.
Electric vehicles (EVs) under the luxury car tax threshold are FBT-exempt, making novated leases particularly attractive for EVs in Australia.