Some things just shouldn’t be leased out to others. Toothbrushes, sandals and biros (if you ever want them back) should simply be out of the question if anyone asks to borrow them.

Cars, on the other hand, were made to be leased. That’s why we clever humans invented the novated lease, which allows you to lease a car for a set cost and deduct the running expenses from your payable tax. Since EVs have tripled in popularity over the past year, many of us are wondering: can my next car on a novated lease be a hybrid? Let’s find out.

Absolutely!

The truth is, you can lease pretty much anything (apart from stuff that you shouldn’t lease – see above). From power tools to toasters, who says what we can and can’t lease if both parties are cool with it, and there’s no icky hygiene concerns? 

The great thing about novated leases is that they’re a legitimate way to go about driving a vehicle, rather than some dodgy agreement you’ve struck up with a chap on Gumtree.

And electric vehicles, being vehicles, are absolutely, positively, 100% able to be obtained via a novated lease! Here’s how to do it.

Check with your employer first

Having an employer who offers novated leases is a crucial part of the process. Your employment is the main way that you prove you can afford to make the lease payments, and it’s also important for the claiming of expenses on tax. Have a conversation with your employer about whether they’re willing to offer novated leases. Theoretically, all employers are able to do this.

Find the perfect lease on the perfect car

Next, it’s all about choosing the right car. In the past, novated leases have been popular for gas-guzzling utility vehicles like 4WDs, utes and twin-cabs. But with electric vehicles seeing a surge in availability, popularity and affordability, there’s absolutely no reason you can’t choose an electric vehicle when entering a novated lease.

Some of the types of electric vehicles that you can get on a novated lease include:

  • Sedans: from the practical Toyota Camry to the sporty Tesla Model S, sedans are widely available in hybrid models.
  • Hatches: the Toyota Corolla is one of the most popular budget hatchback EVs, whereas Mercedes Benz are making hatches for the higher end of the market, like their A250.
  • 4WDs: Surprised to see this on the list? Mercedes, Ford and Tesla are all making 4WDs that will be hitting Australia’s shores soon enough.

Twin cabs: Ford are making an electric version of their beloved F150. Imagine being the first person to hit the Deniliquin Ute Muster (the world’s biggest gathering of utes) in an electric twin cab!

Choose the right team for your lease

Lastly, you’ve got to choose the right bunch of professionals for your novated lease on an electric vehicle. That’s where Fingo steps in. As Australia’s leaders in car buying, leasing and trading, Fingo can find you the best vehicle for the best deal. 

Time to pull the trigger on investing in an electric vehicle? Get in touch with the gang at Fingo. They’re your first-choice team of car-buying and trading professionals, helping you secure a brand new EV in whichever way suits you best. Whether you want a loan, a novated lease or a trade-in, get in touch with the team at Fingo today.

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