Cheapest EV Novated Leases
Australian novated lease guide and comparison.
Last verified: 2025-07-01 | 2025-26 tax rates
Cheapest EV Novated Leases
The cheapest EV novated lease starts from $533.66/fortnight for the BYD Dolphin. All EVs below are FBT exempt.
| Car | Price | Range | Fortnightly | Total saving |
|---|---|---|---|---|
| BYD Dolphin | $35,888.00 | 427 km | $533.66 | $10,822.62 |
| GWM Ora | $35,990.00 | 420 km | $534.85 | $10,846.73 |
| MG ZS EV | $36,990.00 | 320 km | $546.50 | $11,083.09 |
| MG 4 EV | $38,990.00 | 450 km | $569.81 | $11,555.82 |
| BYD Atto 3 | $44,381.00 | 420 km | $632.65 | $12,830.05 |
| Hyundai Kona Electric | $45,500.00 | 490 km | $645.69 | $13,094.55 |
| Volvo EX30 | $48,490.00 | 476 km | $680.54 | $13,801.27 |
| BYD Seal | $49,888.00 | 570 km | $696.83 | $14,131.71 |
| Kia Niro EV | $49,990.00 | 460 km | $698.02 | $14,155.82 |
| Cupra Born | $49,990.00 | 511 km | $698.02 | $14,155.82 |
| Tesla Model 3 | $54,900.00 | 513 km | $755.24 | $15,316.36 |
| Hyundai Ioniq 5 | $56,900.00 | 507 km | $778.55 | $15,789.09 |
| Hyundai Ioniq 6 | $56,900.00 | 614 km | $778.55 | $15,789.09 |
| Kia EV6 | $58,750.00 | 528 km | $800.12 | $16,226.36 |
| Tesla Model Y | $58,900.00 | 533 km | $801.86 | $16,261.82 |
| Polestar 2 | $59,990.00 | 554 km | $814.57 | $16,519.45 |
| Volvo XC40 Recharge | $62,990.00 | 533 km | $849.53 | $17,228.55 |
| BYD Tang | $72,998.00 | 530 km | $966.18 | $19,594.07 |
| Kia EV9 | $86,750.00 | 512 km | $1,126.46 | $22,844.55 |
How to get the cheapest EV novated lease
The cheapest EVs on novated lease are the BYD Dolphin, GWM Ora, and MG ZS EV -- all under $40,000 driveaway. With the FBT exemption, these cars cost as little as $1,156.26/month effective cost.
All of these EVs are well under the $91,387 FBT exemption threshold, so you pay $0 FBT. They also have lower running costs than petrol alternatives.
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Frequently Asked Questions
What is a novated lease?
A novated lease is a three-way agreement between you, your employer, and a finance company. Your employer deducts lease payments from your pre-tax salary, reducing your taxable income.
Are EVs FBT exempt on novated lease?
Yes, EVs and PHEVs under $91,387 are FBT exempt until 31 March 2027, making them significantly cheaper to salary sacrifice than petrol cars.
How much can I save with a novated lease?
Savings depend on your salary and car choice. On an $85K salary with a $45K EV, typical savings are $10,000-$15,000 over 3 years.
What happens at the end of a novated lease?
You can pay the residual value to own the car, refinance the residual, trade in and start a new lease, or hand the car back.
Can I salary sacrifice a used car?
Yes, most novated lease providers allow used cars, typically up to 7 years old at the end of the lease term. New cars generally offer better value due to GST savings.
Calculate Your Exact Savings
Use our novated lease calculator with your specific salary, car, and preferences.
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