Here s why more and more Australians are choosing to novate their next cars.
To qualify, the value of electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell electric vehicles (FCEVs) must fall below the Luxury Car Tax (LCT) threshold for fuel-efficient vehicles at the time of retail or subsequent sale.
Pure electric vehicles (EVs) operate solely on electric power, emitting zero tailpipe emissions, thus leading the FBT EV exemption list. Numerous popular EV models fall into this category and are available for novated leasing through Fingo.
Plug-in hybrid electric vehicles (PHEVs) integrate an internal combustion engine and an electric motor. Their electric motor can be charged externally, allowing them to run for specific distances solely on electric power. Due to their dual functionality and emissions reduction contribution, PHEVs are also covered by the FBT exemption. Fingo provides the option for PHEV novated leasing.
Hydrogen fuel cell electric vehicles (FCEVs) utilise a fuel cell to generate electricity for their onboard electric motor. The fuel cell combines hydrogen and oxygen, producing only water vapour and heat as byproducts, categorising FCEVs as zero-emissions vehicles. While not as prevalent as EVs and PHEVs, FCEVs are also eligible for the FBT EV exemption.
At Fingo, we stay informed about the latest eligibility standards. Opting for an EV novated lease or plug-in hybrid novated lease with us ensures alignment with the most current tax incentives. We assist you in selecting a vehicle that not only meets your requirements but also capitalises on the financial advantages of the FBT EV exemption. Experience the Fingo advantage: drive toward a greener future while enjoying the best financial benefits along the way.
By leveraging the possibility of FBT exemptions on EVs, you have the opportunity to experience substantial tax savings. Through consolidating your vehicle’s operational expenses into a single, manageable pre-tax deduction, Fingo simplifies the financial aspect of owning an EV, making it more accessible and advantageous.
At Fingo, we understand that each driver’s requirements are distinct, which is why we tailor personalised budget plans. These plans encompass not only your EV’s repayments but also anticipated charging and maintenance expenses, providing you with transparency and financial foresight.
Navigating the realm of electric vehicles can be complex. With Fingo by your side, you gain access to experts who can assist you in exploring eligible EV options and staying abreast of the latest advancements in EV technology.
Fingo streamlines the novated leasing procedure, overseeing everything from the initial consultation to facilitating your journey onto the road. We manage all the intricacies, guaranteeing a seamless transition to your new EV without any hassle.
Our commitment to you extends beyond the moment you drive off in your new EV. Fingo offers continuous support, keeping you informed about developments in the EV industry and addressing any questions or concerns related to your lease along the way.
Novated leasing is a finance arrangement where an employer deducts lease payments from an employee’s pre-tax salary to fund a vehicle lease. With Fingo, novated leasing for electric vehicles allows you to enjoy tax benefits while driving an eco-friendly vehicle.
Novated leasing with Fingo offers benefits such as potential tax savings, reduced upfront costs, access to competitive finance rates, and simplified budgeting with all vehicle expenses bundled into one payment.
Eligibility for a novated lease with Fingo typically requires you to be an employee who receives salary packaging benefits and has approval from your employer to participate in a novated lease arrangement.
Fingo offers flexibility in choosing electric vehicles for novated leasing, including popular models from various manufacturers. our team can assist you in selecting a suitable electric vehicle that fits your needs and budget.
Yes, novated leasing electric vehicles through Fingo may offer tax benefits, including potential savings on income tax and GST on the vehicle’s purchase price and running costs.
Novated lease payments cover the cost of the vehicle, maintenance, registration, insurance, and other running costs. Additional fees may apply for administration or early termination, which will be outlined in your lease agreement.
If your employment status changes, the novated lease can typically be transferred to your new employer, subject to their approval. Alternatively, you may have the option to continue the lease under your own name or pay out the lease early.
Fingo can arrange comprehensive insurance and handle vehicle registration as part of the novated lease package. These costs are typically included in your regular lease payments for convenience. You are also able to arrange alternative insurance options for your vehicle.
Fingo provides personalised assistance from experienced consultants who can guide you through the novated leasing process, assist with vehicle selection, and offer ongoing support throughout the lease term.
Yes, Fingo offers flexibility to tailor your novated lease package to suit your individual preferences and budget. You can choose from various lease terms, mileage allowances, and optional extras to create a package that meets your needs.
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