Purchasing or leasing a Tesla is an option for those wanting to drive an electric vehicle without the high upfront costs. Choosing a novated lease is one of the best ways to get into a Tesla as it offers FBT exemption on eligible cars and other benefits such as lower running costs. For more information about the Tesla novated lease financing, click here.
Tax savings
Tesla cars are beautiful, but purchasing one outright can be difficult due to the high upfront costs. However, there is another way to own a Tesla – by leasing it! It is made possible by Automotive Lease Packaging, a company specialising in novated leasing packages for Tesla vehicles. A novated lease is a legally binding contract between an employee, employer, and financier offering significant tax savings over traditional loans and other car-buying methods.
When you sign up for a Tesla novated lease, your monthly payments are subtracted from your pre-tax salary. It means that they won’t affect your PAYG, and you can save thousands on your EV purchase price and running expenses by using this method of financing.
Another benefit of Tesla’s novated leasing is that you can easily upgrade to new models when ready to move on to something different. It makes it a better option than buying a vehicle outright, which can cost you tens of thousands of dollars and lock you in for years.
A novated lease will allow you to take advantage of the government’s fringe benefits tax (FBT) exemption for zero and low-emission vehicles. It will help you save even more on the Tesla’s purchase price and eligible running costs.
The EV market is expanding at a rapid pace, and Tesla prices are going up in value. Many people are interested in upgrading to a new Tesla but are worried about the initial costs involved. If you’re unsure whether a novated lease is right for you, here are some tips to help you decide.
Novated leases are the best option for people who want to own a Tesla without spending a fortune. A novated lease is an agreement between an employee, their employer, and the finance company that lets you pay for a new vehicle with a pre-tax salary. It means that your novated lease payments will be tax-deductible, and you’ll also be able to package car running costs such as fuel and maintenance. For more information about the Tesla novated lease financing, click here.
No annual mileage limits
Novated leasing for a Tesla model efficiently reduces your taxable income and saves money on running costs. The tax benefits of novated leases are substantial, with all expenses, including GST, fuel and maintenance, deductible from your pre-tax salary. With Easi, you can use end-to-end Tesla’s novated leasing solutions, from vehicle selection and finance to management and reporting.
Leasing a Tesla through a novated lease is ideal for those who want to keep up with the latest technology but don’t have the cash to purchase an EV outright. It’s also an attractive option for those who have a short commute and won’t need to drive far on business trips. However, the annual mileage limit is a crucial downside of Tesla’s novated leasing. While this isn’t a problem for people who rarely exceed the limit, it can be costly for those with long commutes or travel frequently.
Unlike a car loan, a novated lease is an agreement between you and your employer. The lease agreement typically states that the vehicle is for personal use only. You can’t use the car for work or hire it out. However, you can arrange with your employer if you’re a full-time employee and want to use the vehicle for business purposes.
You must complete a credit application if you choose to finance your Tesla through a novated lease. It will require you to provide underwriting information such as your Social Security number, address, phone number and employment. A credit decision will usually be available within a few minutes or 48 hours after you submit your application.
If you’re looking to buy a Tesla through a novated leasing arrangement, you may get a better deal by combining it with a home charging station or purchasing your new car through an online retailer. In addition, a novated lease can help you avoid paying registration fees and taxes.