Electric vehicles (EVs) can be an effective solution to reducing one’s carbon footprint but purchasing one may not be straightforward for everyone.
Novated lease green electric vehicle provides an effective means of purchasing an electric vehicle. As it’s a form of salary packaging, it enables you to pay for it with pre-tax income.
Less Maintenance Costs
Your recent observations may have revealed an upsurge in electric vehicle (EV) sightings on roads and service centres alike. With federal and state incentives available, these cars have never been more in demand. To get all the advantages associated with an EV without incurring high upfront costs, a novated lease may be your ideal solution.
Electric vehicles (EVs) are easier to maintain than petrol cars due to having fewer moving parts and longer battery life; additionally, many novated lease agreements include all maintenance and servicing as part of their monthly payments.
Electric vehicles (EVs) have become more reliable as technology and investment have expanded charging networks, which bodes well for employees opting to add them as part of their salary package – they could save around $9000 annually when compared with standard cars with $50,000 thresholds for Fringe Benefits Tax (FBT) charges.
No Fuel Card Needed
Electric vehicles (EVs) typically come equipped with their own home charging stations; however, drivers may occasionally require commercial ones when travelling long distances or needing extra battery power quickly. Novated leases offer coverage for these expenses.
Like petrol cars, battery electric vehicles don’t face as many issues that require repairs due to having fewer parts and their tires not becoming carbon coated like they can with petrol vehicles.
Novated lease green electric vehicle is a form of salary packaging that allows employees to include their car expenses as part of their take-home pay each fortnight, making it possible for people who may otherwise find purchasing an electric vehicle out of reach through traditional financing channels like loans with payable interest more feasible.
Less Chance of Complications
Novated leases offer comprehensive protection, covering any necessary maintenance for your EV in its payments. That way, there will be no unexpected out-of-pocket costs such as with petrol cars. Furthermore, they have fewer moving parts and don’t deteriorate from carbon build-up, reducing complications and costly repairs significantly – though EVs do require periodic tire replacement.
Have you noticed an upsurge of electric vehicles on the roads and at service stations recently? This likely stems from the Federal government scrapping FBT on these EVs to encourage adoption and innovation within this sector.
Now is an excellent time to switch over to an electric vehicle (EV). Contact us and learn how a novated lease could assist with making this change and find one that meets both your lifestyle and budget requirements.
No Tyre Replacement Costs
Electric vehicles don’t require regular oil changes like traditional cars do; however, their tires will still need replacing from time to time as necessary. Luckily, since EVs tend to use less tires than gas-powered vehicles do, new replacement tires tend to be cheaper.
Novated leases make buying an electric vehicle (EV) surprisingly cost-effective. Thanks to FBT exemption and careful calculations between pre-tax salary and take-home pay, an EV that would otherwise stretch your finances is easily within your reach on an affordable novated lease green electric vehicle agreement.
Apart from these benefits, you’ll also realise tax savings such as no vehicle registration and registration fees, an extended battery warranty of 100,000 kms and lower maintenance costs. Furthermore, take advantage of ORIX’s fleet purchasing power to secure discounts for services and maintenance discounts.