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Significant savings on an electric vehicle or plug-in hybrid with a novated lease

If you’re in the market for an electric vehicle (EV) or plug-in hybrid (PHEV), our car experts can help you benefit from the significant saving advantages of a novated lease while you help the planet.

Benefit the environment and your pocket

Save significant money on an EV or PHEV

With the introduction of no FBT on eligible EVs and PHEVs, you could save on average $9k per year, almost double the savings* compared to a novated lease with an internal combustion engine vehicle.

cheaper cost

EVs can help you save over the long term with the cost of an electric charge almost always cheaper than refuelling a car with petrol.

Good for environment

EVs have a lower carbon footprint. A study found electric vehicles emit, on average, 29-41% less emissions than a typical fossil-fuelled car for every kilometre driven.**

Less maintenance

EVs have a lower carbon footprint. A study found electric vehicles emit, on average, 29-41% less emissions than a typical fossil-fuelled car for every kilometre driven.** Less maintenance EVs are reliable and easier to maintain. The simplicity of the electric motor means that there is no oil to change, fewer parts that can wear down over time, and no engine to manage.

Flare can help you
go green

Our fully digital novated lease process is completely paperless from start-to-finish, making it faster, easier, and better for you and the environment.

Our car experts have an extensive understanding of all cars, including EVs and PHEVs. We help you keep across the latest models, find the right vehicle for your needs, source it, and purchase it.

It’s convenient and hassle-free

Enjoy savings only available through a novated lease

With the introduction of no FBT on eligible EVs and PHEVs, you can enjoy significant savings only available through a novated lease.

Resources

What is a novated lease and how does it work?

Your guide to buying an EV

Top 10 electric vehicles and plug-in hybrids

Frequently asked questions

What is the legislation and how could I save?

In a move that supports both the environment and the budget of Australians, the federal government has recently introduced legislation that makes electric vehicles (EVs) priced under $89,332 exempt from fringe benefits tax (FBT).

Before this bill was passed, you would have expected to pay 20% of the FBT base value of the vehicle as a post tax deduction from your salary. Now, with this change, the total amount is calculated and deducted before-tax so you, as the employee, is not paying any FBT or income tax on your new eligible EV or PHEV.

How long does it take to charge an EV?

It depends on a number of factors like battery size and the charger used. See this range and charging tool for the average charging time for each EV currently available in the market. https://www.transport.nsw.gov.au/projects/electric-vehicles/charging-an-electric-vehicle/range-and-charging

Where can I charge my EV?

Charge at home, work or public locations across Australia. See this charging map for locations. https://www.transport.nsw.gov.au/projects/electric-vehicles/charging-an-electric-vehicle/charging-map

What is covered by an EV through a novated lease?

Electricity mileage, maintenance costs, tyre replacements, rego, CTP (NSW), comprehensive insurance and car washing

What is the range on an EV?

There are electric vehicles available in Australia that can travel over 500km on one charge. If you live in a city, the average daily commute is 35km meaning you’ll be able to get around without needing to recharge. See this range and charging tool for the average range for each EV currently available in the market.

How do I get an EV novated lease?

Speak to Flare today and we can step you through the novated lease process, help you to identify and source the car you want, and purchase it, end-to-end. The process is simple and you’ll be supported along the way by a Flare Car Concierge.

Which vehicles are exempt from paying the FBT?

The vehicle must be at first sale less than the luxury car tax threshold for fuel efficient vehicles which is $89,332 as of the 1st of December 2022. While vehicles are exempt from paying FBT, there will be reportable fringe benefits for employees.

Employees love Flare Benefits

Neil bought his Subaru through a Flare novated lease.
It was a very simple process. I didn’t have to meet anybody, it was all handled remotely, it was just emails and a DocuSign electronic signature on a contract. So very simple. Since I’ve actually taken my car for work, it’s enabling me to get a lot more flexibility.

Neil Creasey

Executive Enterprise Agile Leader, VIC

Alexandra bought her Subaru through a novated lease.
The whole novated lease process was simpler and more convenient than the traditional car buying experience, and the Flare folks basically held my hand through the whole thing. They got me the car I wanted delivered to my door, and I can use pre-tax dollars to pay for it which reduces my taxable income.

Alexandra Myers

Veterinarian Pathologist

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Terms and conditions

*Flare comparison data between ICE Mazda CX5 vs. EV Tesla Model 3 on 50 month lease term, 15,000kms pa
**https://www.uts.edu.au/news/social-justice-sustainability/how-climate-friendly-electric-car
1 Pricing based on the drive-away cost of a Tesla Model Y in NSW.
2 Monthly running costs include fuel, maintenance, insurance and servicing.
3 The residual cost for this model comes to $27,845, based on a balloon payment of 37.5%
The above comparison is indicative and of a general nature only, and we have not taken your personal financial objectives, situation or needs into account. We recommend you consider if you need to seek professional financial advice before making any financial decisions regarding Flare Cars.
All calculations are based on the following assumptions: living in NSW, salary: $95,000 gross p.a., travelling 15,00 kms p.a., finance/lease term: 48 months. Figure quoted include budgets for finance, fuel, servicing, tyres, maintenance, comprehensive insurance, registration and CTP.
Novated lease calculations use net GST processing method and Employee Contribution Method for FBT purposes; the total cost over life reflects the net effect after tax and includes a Flare cars admin fee; Interest rate quoted for both the novated lease and car loan calculations is 9.5% with a $550 inc GST establishment fee. Comprehensive Insurance estimate based on 2.5% of the purchase price of the car. The above comparison is indicative and of a general nature only, and we have not taken your personal financial objectives, situation or needs into account. We recommend you consider if you need to seek professional financial advice before making any financial decisions regarding Flare Cars.