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A Tesla novated lease allows eligible employees to package the cost of a Tesla and approved vehicle running expenses through their salary. The arrangement is made between you, your employer and a finance provider, with your employer making the agreed lease payments from your salary.

For employees considering an electric vehicle, salary packaging can provide a different way to manage the cost of a Tesla compared with purchasing the vehicle outright or using a standard car loan. Depending on your lease structure, costs such as registration, comprehensive insurance, servicing, tyres and eligible charging expenses may also be included in your regular vehicle budget.

Eligible electric vehicles may also receive favourable Fringe Benefits Tax treatment under current Australian rules, subject to the vehicle and arrangement meeting the relevant requirements. Because the financial outcome depends on your salary, chosen Tesla, annual kilometres and lease term, it is worth comparing the complete costs before deciding whether a novated lease suits you.

Learn more about how an electric vehicle novated lease works or use the calculator below to estimate your potential costs and savings.

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Why Consider a Tesla Novated Lease?

A Tesla novated lease can combine vehicle finance and eligible running costs within one salary-packaged arrangement. For employees whose workplace offers novated leasing, this may make it easier to budget for the vehicle while also accessing the tax treatment available to eligible electric vehicles.

Depending on your package, your regular vehicle budget may include expenses such as:

  • Lease repayments
  • Registration
  • Comprehensive insurance
  • Servicing and maintenance
  • Tyres
  • Roadside assistance
  • Eligible EV charging costs

Fingo can also help source the vehicle and structure the lease around your selected Tesla, expected annual kilometres and preferred lease term.

The actual benefit will vary between employees, so the most useful comparison is based on your individual salary, vehicle price, running costs and lease structure rather than a general advertised saving.

 

How Does a Tesla Novated Lease Work?

A Tesla novated lease involves three parties: you, your employer and the finance provider.

1. Choose your Tesla

Select the Tesla model and specification that suits your needs and budget.

2. Confirm your employer supports novated leasing

Your employer needs to participate in the salary-packaging arrangement.

3. Arrange the lease and vehicle budget

Your quote is calculated using factors such as the vehicle price, your salary, expected annual kilometres, running costs and lease term.

4. Payments are made through payroll

Your employer deducts the agreed amounts from your salary and pays the relevant lease and vehicle expenses as part of the arrangement.

5. Review your options at the end of the lease

A residual amount generally remains at the end of the term. Depending on your circumstances, you may be able to pay the residual, refinance it, sell or trade the vehicle, or move into another vehicle.

For a broader explanation, see how novated leasing works.

Which Tesla Can You Novated Lease?

Tesla drivers in Australia commonly consider the Model 3 and Model Y for novated leasing.

TeslaBest suited toLearn more
Model 3Drivers looking for an electric sedan suited to commuting and everyday drivingTesla Model 3 novated lease
Model YDrivers looking for an electric SUV with additional passenger and cargo flexibilityTesla Model Y novated lease

 

The most suitable option depends on more than the purchase price. Consider your expected kilometres, charging access, insurance, running costs and lease structure before choosing a vehicle.

 

Can a Tesla Novated Lease Qualify for the EV FBT Exemption?

An eligible battery-electric Tesla may qualify for the Australian electric car FBT exemption when the vehicle and salary-packaging arrangement meet the relevant requirements.

Eligibility depends on factors including the specific vehicle, when it was first held and used, its value for Luxury Car Tax purposes and the structure of the arrangement.

The exemption can affect the salary-packaging calculation for an eligible EV, but it does not mean every Tesla or every novated lease automatically qualifies.

Before entering a lease, confirm the treatment of the specific Tesla variant included in your quote.

You can also learn more about novated leasing for electric cars.

 

Estimate Your Tesla Novated Lease Costs

Your novated lease cost will depend on your salary, the Tesla you choose, your expected annual kilometres, lease term and estimated running expenses.

Use Fingo’s novated lease calculator to get an initial estimate based on your circumstances.

If you would like a personalised calculation, contact Fingo to discuss your selected vehicle, employer and salary-packaging options.

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How We’re Different

Thanks to our wealth of industry knowledge we are able to offer savings unrivalled by others.

Tailored Package

We craft a package specifically to your values and needs, so that you can get the most out of our services.

Replacement Policy

Unhappy with your car or looking to upgrade? we'll accommodate your requests and re-negotiate your plan in order to set you up with your ideal vehicle.

Fully Transparent

We operate with full transparency to ensure you don’t get stuck with hidden fees or taxes.

Same-day Approval

We want to get you on the road as soon as possible, so you don't want to be held up by unnecessary waiting periods.

Flexible Service

We strive to be a helping hand from start to finish. if you're struggling to pay off your loans or need to reshape your package, our team can help.
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Benefits of a Novated Lease for Employees

  • no gst on the purchase price
  • no deposits or up-front costs
  • save on your vehicle running and maintenance costs
  • save thousands in income tax
  • take your vehicle with you if change jobs
  • just one easy monthly payment for all your vehicle expenses
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Benefits of a Novated Lease for Employers

  • cheaper and easier to manage than providing company cars
  • provide a more attractive remuneration package to potential and existing customers
  • no residual risk
  • lower payroll tax and workcover premiums. no surplus vehicles if an employee changes jobs
  • we take care of arranging everything so you can focus on important business matters
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More About Novated Leasing

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How much can I save with a novated lease?

read how a novated lease could save you thousands
what happens at the end of a novated lease?

what happens at the end of a novated lease?

we outline all you need to know about novated leases and your available options once your lease is up.

Tesla Novated Lease FAQs

Depending on the arrangement, a Tesla novated lease budget may include the lease repayments and approved vehicle expenses such as registration, comprehensive insurance, servicing, maintenance, tyres and eligible charging costs.

Exactly what is included will depend on your package, so review the full quote and estimated budget rather than comparing the finance repayment alone.

An eligible battery-electric Tesla may qualify for the electric car FBT exemption if the vehicle and arrangement meet the applicable requirements.

Eligibility is not determined by the Tesla brand alone, so the specific vehicle, value and lease arrangement should be checked before proceeding.

Potentially, yes. Fingo provides novated lease options for both the Tesla Model 3 and Tesla Model Y.

Your final lease will depend on your employer, finance approval, selected variant, vehicle price and individual circumstances.

There is no single Tesla novated lease price because the calculation depends on the vehicle, your salary, lease term, expected annual kilometres, running costs and individual tax circumstances.

Use Fingo’s novated lease calculator for an initial estimate, then request a personalised quote for the specific Tesla you are considering.