If you’re considering an electric car, a novated lease is the most affordable way to purchase one. Novated leasing is when your employer deducts your vehicle and running costs from your pre-tax salary (salary sacrifice).
With the Australian Government’s new EV Discount eliminating Fringe Benefits Tax for full EV or plug-in hybrid vehicles priced below the luxury car tax threshold, now has never been a better time to consider an EV. For a best novated lease electric car, click here.
Hyundai Kona Electric
The Kona Electric is a fun-to-drive, eco-friendly, entry-level electric SUV. It was well-received when introduced in 2019 and competed with the Kia Niro EV, Chevrolet Bolt EV and Bolt EUV, Nissan Leaf and Volkswagen ID.4.
Its impressive 258-mile range is enough for most daily commutes, and its battery takes 9.5 hours to charge from empty using a standard outlet. It’s also eligible for federal tax incentives, making it a more affordable choice for many drivers.
Its intelligent features include blind-spot monitoring, automatic emergency braking, and lane-keeping assistance. Driver attention monitoring and a rear occupant alert are also available, but adaptive cruise control is only offered on the top-spec Limited model. The 2023 Kona Electric is a good value and has an impressive warranty. However, it has a firm ride, which some drivers might find uncomfortable. It’s also not as quiet as some other EVs. It makes a spacey noise at low speeds but fades out at highway speeds.
Kia Niro Electric
The Kia Niro Electric was Kia’s first attempt at an all-electric SUV. It enters its second generation for 2023, with a more refined driving personality and improved range. But it still can’t match the performance and price of many key competitors, including the Nissan Leaf and Chevrolet Bolt EUV. For a best novated lease electric car, click here.
The Niro’s front-wheel drive, 201-horsepower, permanent magnet AC synchronous electric motor and battery pack provide satisfying acceleration and a solid EPA-estimated 239-mile range. The interior offers all the comfort and convenience of a conventional crossover.
For example, the Niro’s dual 10.3-inch screens reside on a single, swoopy panel, with controls accessible from the steering wheel. It also has a standard suite of driver assistance features, like rear parking sensors and lane departure warnings. Plus, it’s covered by Kia’s excellent warranty coverage.
Tesla Model Y
The Tesla Model Y sits below the Model X in Tesla’s electric SUV line-up but still offers a premium feel, plenty of space and user-friendly onboard technology. It’s also fast, has an excellent driving range and undercuts premium-badged rivals regarding resale values.
A dual motor all-wheel drive Model Y can travel an EPA-estimated 326 miles on a charge in Long Range trim, while the Performance model can hit 303 miles. Both are quicker than most drivers will ever need, with instantaneous and surprisingly quiet acceleration.
The extensive touchscreen infotainment system dominates the minimalist cabin, which lacks regular buttons. While this approach makes the Model Y incredibly easy to use, it can also feel cold and unwelcoming. A lack of a head-up display is another drawback, especially as it can make it difficult to see the car’s speed while driving on steep roads. But long-term savings on fuel and maintenance costs will likely more than compensate for these issues. For a best novated lease electric car, click here.
Hyundai Ioniq 5
Although it debuted only three years ago, Hyundai’s Ioniq 5 remains one of the best-novated lease electric cars. It was one of the first mid-sized EVs and remains competitive against the Kia EV6 and Volkswagen ID 4.
It uses a battery pack with a single or dual electric motor in rear-wheel drive configuration, producing up to 266 miles of range with the latter setup. Thanks to its responsive electric torque and multi-stage regenerative braking system, it also offers a fun-to-drive character.
Inside, the Ioniq is surprisingly luxurious for an eco-friendly model. Even the entry-level Ioniq EV has a 12.0-inch touchscreen infotainment system with Apple CarPlay and Android Auto, a heated steering wheel and wireless phone charging. Upscale upgrades include leather seating and an automatic dimming rearview mirror. There is also a decent amount of trunk space, although it’s slightly shallower than in rivals like the ID 4. It still has enough room for a few bags of shopping, though.