Lease payments can be deducted directly from your pre-tax salary, and vehicle costs are GST-free; combined with government rebates and discounts, this could save thousands in purchase and operating costs.
No deposit required
Tesla novated lease financing is an excellent way for individuals looking to experience the power and acceleration of an EV without shelling out an initial deposit. These leases may save on vehicle purchase taxes and running costs like registration, insurance, tyre maintenance and servicing – making them an attractive alternative to traditional loans, which often feature steep upfront payments with long repayment periods, making them unfeasible options for many consumers.
Calculate Tesla novated lease financing payments online using an online calculator. Once you know what your monthly payments are, submit a credit application through your Tesla account – this process should be simple and fast, often providing answers within hours – but be mindful that applicants with lower credit scores may incur higher interest rates.
Contrary to what many automotive lenders may provide, Tesla does not offer credit preapproval options; therefore, you must apply and lift any credit freezes before submitting a financing request. You must also provide personal and employment details to complete this application process.
Electric vehicles (EVs) retain value better than combustion vehicles, making them more cost-effective. Furthermore, their operating costs are typically much lower, as EVs don’t need oil or gasoline and can be quickly recharged at home or public charging stations; plus, they don’t require routine maintenance services as new software features can be uploaded over the air.
Flexible payment options
If you are considering the purchase of a Tesla vehicle, there are various financing options available to you. Any lease or finance contract’s annual percentage rate (APR) depends on several variables, including your credit score and vehicle purchase price, down payment amount, loan term length and other considerations. Tesla lease agreements often offer cheaper financing than car loans, as additional payments such as maintenance costs, insurance premiums and taxes are required as part of ownership obligations.
Apply for a Tesla lease through SG Fleet, a leading Australian leasing company. Complete a credit application, lift any freezes on your credit report, submit supporting documentation and access a calculator that will determine how much of a payment you owe for your Tesla and provide details on associated charges. Once approved, SG Fleet will send a financing offer directly into your Tesla Account so that delivery can occur.
Government incentives
When contemplating purchasing a Tesla, it’s essential to familiarise yourself with government incentives available. One such incentive is a $7,500 federal electric vehicle tax credit, which can be applied towards novated lease or finance packages – this helps reduce price and make an EV more cost-effective; plus, these deals offer lower interest rates than traditional loans.
One of the primary advantages of a Tesla novated lease is acquiring your dream car sooner than with traditional loans while enjoying significant tax benefits that could save money in the long run. But keep in mind that its resale value often is lower than its purchase price, and early termination fees may apply should you want to opt-out earlier.
Tesla novated leases are great ways to test drive an EV, but they may not be suitable if you intend on purchasing one in the long run. Novated leases require significant downpayments and can limit how many miles per year can be driven, which could prove problematic if your commute involves travelling far distances.
Easy to finance
Instead of opting for traditional loans with steep down payments and long repayment terms, leasing is far more cost-effective. Payments remain fixed over time, making budgeting much simpler; additionally, EVs typically require less maintenance and fuel-efficiency improvements than their conventional counterparts, making leasing an electric car an attractive option for drivers wanting to keep up with technological trends while minimizing repair costs.
Novated leasing can be ideal for Australian employees seeking eco-friendly vehicles but cannot afford the upfront costs of buying or financing them. The fleet team can assist in finding you the car of your choice with an easy online credit application process – usually taking just minutes and typically yielding decisions within 48 hours!
Deciding between buying or leasing a Tesla is essential, so it is wise to evaluate all options to determine which suits you best carefully.