Tesla Novated Leasing is an innovative financing option available to full-time Australian employees who qualify. It enables you to purchase an electric car with payments deducted directly from your salary – saving tax money in the process!

Tesla cars generally fall within the $84,916 luxury car tax threshold and qualify for novated leasing arrangements, providing some distinct advantages to this arrangement. Let’s examine some benefits of such arrangements.

Tax savings

Tesla novated lease salary packaging is tax efficient as its financing and running costs are paid before tax is levied on them. Furthermore, GST-free leases reduce taxable income further saving money – in fact novated leasing an eligible Tesla Model Y that falls within the LCT threshold of $84,916 can save around $13,300 each year on total costs including dealer delivery/registration/insurance and service plans!

Fixed rate financing from Tesla makes monthly payments easier to budget for than traditional loans, while their electric vehicles don’t require gasoline engines or oil changes for maintenance costs to remain lower than traditional cars. Furthermore, leasing an EV allows you to stay current with technological advancements through wireless updates that provide new software or features.

Start leasing the Tesla model you would like and complete an online credit application with SG Fleet. Once approved, they will send your lease contract for signature via your Tesla Account before scheduling delivery and collection. Please be aware that early termination fees may apply in addition to any unrecoverable expenses that might incur as a result of early lease termination.

Lower monthly payments

If you’re hoping to reduce the monthly payments on your Tesla, considering novated leasing is definitely worthwhile. This type of salary packaging agreement works in partnership with your employer, financier and full-time Australian employees to offer significant tax savings.

Novated lease payments are subtracted from your pre-tax income, meaning they won’t count towards PAYG each month. For instance, when purchasing an $70,000 EV using traditional financing, your PAYG could come to around $1,625. With Tesla novated lease salary packaging however, this same vehicle costs you significantly less due to your 5% Electric Vehicle Discount and lower import tariffs.

Novated leases not only offer tax savings, but they can also provide other advantages like fixed monthly payments and easy upgrades. They’re an ideal way for drivers who want to explore Tesla’s innovative electric powertrain technology without taking out an expensive loan contract.

Tesla’s Model Y can now be leased through novated leasing. As its price is below the Luxury Car Tax (FBT) threshold of $84,916 in 2022/23, you may qualify for FBT exemption. Tesla offers an online leasing calculator to help estimate how much one might cost you; you can even calculate an approximate down payment and negotiate payment plans before signing your lease contract. We suggest doing your research before signing any contracts!

No down payment

If you’re considering buying a Tesla, there are multiple financing options to consider. From traditional loans and lease purchases, to novated lease agreements – which provide top tier performance without annual mileage limits or inconvenience.

When selecting a Tesla lease, it is crucial that you carefully read through its terms and conditions. Some Tesla leases require you to cover a set number of miles each year before incurring penalties upon the end of your lease agreement. Furthermore, check whether there are additional costs such as insurance or taxes that must also be covered before signing an agreement.

Electric vehicles (EVs) require minimal maintenance costs and lower operating expenses than their conventional counterparts, plus can be updated wirelessly with new software updates – meaning fewer dealership visits and dealership fees! However, if you need assistance choosing the appropriate Tesla lease or financing option for you it would be advisable to speak to a professional first.

To apply for a Tesla novated lease salary packaging, you will need proof of income and employment as well as an online calculator to estimate monthly payments. Once your credit application has been approved, you can place your order for your Tesla vehicle.

Convenience

With Tesla prices dropping, now is an excellent time to explore your novated leasing options. Novated leasing allows you to purchase the Tesla of your dreams at reduced costs with flexible terms and low interest rates; all running costs will also be included in monthly payments; furthermore, taxation will be less as your lease payments will be deducted directly from salary before taxed as purchase payments would have been.

Through a Tesla novated lease, you can easily upgrade your vehicle every three years to stay up-to-date on technology trends and save on maintenance costs. Since EVs don’t use petrol engines like traditional vehicles do, maintenance checks may require less frequent checks compared to traditional models. Furthermore, home charging stations provide even more cost-efficient ways of charging up your Tesla.

Start by choosing Tesla as your financier and selecting your preferred amount due at signing, monthly payment amount and loan or lease term. Submitting your credit application will then be reviewed and the decision posted in your Tesla Account’s “Payment Methods” section; if not approved you can resubmit at any time. Alternatively if you want to lower the costs with a novated lease solution Automotive Lease Packaging are experts who can help make driving your dream car affordable! Contact them now to see how they can assist!