Can I Afford a Tesla Model 3 on a Novated Lease?
Find out the minimum salary needed to save money novated leasing a Tesla Model 3 ($55,900.00). See how savings scale from $50K to $150K.
Quick Answer
- Car Price
- $55,900.00
- Type
- EV
- FBT Status
- Exempt
- Min Salary for Savings
- $50K
Savings by Salary Tier
| Salary | Annual Saving | Fortnightly Cost | 5-Year Total | Tax Bracket |
|---|---|---|---|---|
| $50K | $4,295.76 | $551.15 | $21,478.82 | 30% |
| $70K | $5,601.96 | $551.15 | $28,009.82 | 30% |
| $90K | $5,601.96 | $551.15 | $28,009.82 | 30% |
| $100K | $5,601.96 | $551.15 | $28,009.82 | 30% |
| $120K | $5,601.96 | $551.15 | $28,009.82 | 30% |
| $150K | $6,605.06 | $551.15 | $33,025.32 | 37% |
Verdict
The Tesla Model 3 is FBT exempt, making it an excellent novated lease option. You start saving from $50K, and the savings grow significantly above $90K where you move into the 37% tax bracket. At $120K you save over $28,009.82 across 5 years.
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Frequently Asked Questions
What salary do I need to novated lease a Tesla Model 3?
Most people see meaningful savings from around $50,000 salary. The higher your income, the greater the tax saving due to higher marginal tax rates.
Can I novated lease a Tesla Model 3 on a low salary?
Yes, but the savings are smaller. On a $50,000 salary the tax benefit is modest. Above $90,000 you see significant savings because you move from the 30% to 37% bracket.
What does a Tesla Model 3 novated lease include?
The lease covers the car cost ($55,900.00), plus insurance, registration, servicing, and charging — all bundled into one pre-tax payroll deduction.
Is the Tesla Model 3 eligible for FBT exemption?
Yes. As a battery electric vehicle priced under $91,387, the Tesla Model 3 is fully FBT exempt, which significantly boosts your savings.
How long is a typical novated lease for a Tesla Model 3?
Most novated leases run for 3 to 5 years. A 5-year term gives lower fortnightly payments, while a 3-year term offers higher annual tax savings.
Want exact numbers for your situation?
Use our full novated lease calculator with your exact salary, car price, and lease term.
Open Novated Lease CalculatorEstimates based on 2025-26 Australian tax rates. Actual savings depend on your employer arrangement, residual value, and exact running costs. Car prices are drive-away estimates and may vary by dealer. This is general information only, not financial advice. Consult a financial adviser for personal guidance.