Electric vehicle (EV) and plug-in hybrid (PHEV) adoption in Australia is set to explode. With the introduction of no Fringe Benefit Tax (FBT) for eligible vehicles only through a novated lease, these cars will be in high demand with your employees.
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.
If you have never had a novated lease before, we’ll help you understand it, get set up, and promote it within your business. We make it simple and easy. The whole set up process will take you less than 10 minutes with Flare.
Flare’s dedicated team will manage the lease from start to finish directly with your employee, and provide any support they need along the way.
The responsibility for the lease sits with the employee. If they leave the business, they take the lease with them.
There are no start-up costs or ongoing fees. All the expenses for car salary packaging are deducted from your participating employees’ salaries.
With the introduction of no FBT on eligible EVs and PHEVs, your employees can enjoy significant savings only available through a novated lease.
Fill in the form below to learn more about Flare Cars and find out how much you can save.
1 The residual cost for this model comes to $27,845, based on a balloon payment of 37.5%
2 Pricing based on the drive-away cost of a Tesla Model Y in NSW.
3 Monthly running costs include fuel, maintenance, insurance and servicing.
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 rax and includes a Flare cars admin fee; Interest rate quoted for novated lease is 5.78% p.a. vs 7.49% p.a. for a car loan. Cash cost per month based on capital cost of the car divided by 48 months and does not factor in loss of interest. Comprehensive Insurance estimate based on 2.5% of the purchase price of the car.
