Tesla Model Y vs BYD Seal — Novated Lease Comparison
Side-by-side novated lease comparison of the Tesla Model Y and BYD Seal. Specs, costs, savings, and a clear winner.
Specs Comparison
| Spec | Tesla Model Y | BYD Seal |
|---|---|---|
| Price | $65,900.00 | $52,898.00 |
| Type | EV | EV |
| Battery | 75 kWh | 82.5 kWh |
| Range | 533 km | 570 km |
| FBT Status | Exempt | Exempt |
Novated Lease Costs at $80K Salary
| Tesla Model Y | BYD Seal | |
|---|---|---|
| Fortnightly Deduction | $637.69 | $524.22 |
| Annual Lease Cost | $16,580.00 | $13,629.60 |
| Annual Tax Saving | $5,305.60 | $4,361.47 |
| Annual GST Saving | $1,198.18 | $961.78 |
| FBT Cost/yr | $0 (exempt) | $0 (exempt) |
| Net Annual Saving | $6,503.78 | $5,323.25 |
| 5-Year Total Saving | $32,518.91 | $26,616.27 |
Running Costs Comparison
| Cost | Tesla Model Y | BYD Seal |
|---|---|---|
| Fuel/Charging | $750.00 | $700.00 |
| Insurance | $1,900.00 | $1,500.00 |
| Registration | $350.00 | $350.00 |
| Servicing | $400.00 | $500.00 |
| Total/yr | $3,400.00 | $3,050.00 |
Verdict
The Tesla Model Y wins on novated lease value, saving $6,503.78 per year vs $5,323.25 for the BYD Seal. Over 5 years that is $32,518.91 in total savings. The FBT exemption is a major factor.
Related Pages
Frequently Asked Questions
Which is cheaper to novated lease — Tesla Model Y or BYD Seal?
The Tesla Model Y is cheaper to lease. On an $80K salary, the Tesla Model Y costs $637.69 fortnightly vs $524.22 for the BYD Seal.
Which saves more on tax — Tesla Model Y or BYD Seal?
The Tesla Model Y delivers higher tax savings because it has a higher annual lease deduction, reducing more of your taxable income.
Are both the Tesla Model Y and BYD Seal FBT exempt?
The Tesla Model Y is FBT exempt. The BYD Seal is FBT exempt.
Which has lower running costs?
The BYD Seal has lower annual running costs at $3,050.00/year vs $3,400.00/year.
Which car should I novated lease?
If budget is the priority, go with the Tesla Model Y. Consider range (533 km vs 570 km), boot space, and your daily driving needs too.
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.