Lease the Tesla Model Y

A novated lease spreads the cost of the car and running expenses over time, using pre-tax salary. This reduces taxable income and simplifies budgeting. Buying outright requires full upfront capital and separate running costs, whereas a lease bundles insurance, servicing and charging in one manageable payment:

With a novated lease, you’ll enjoy a low upfront cost and payments starting from $199 per week, while also benefiting from a reduced taxable income.

An outright purchase, on the other hand, comes with a high upfront cost and offers no tax benefits, though there are no ongoing weekly payments to manage.

For electric vehicles, like a Tesla Model Y, novated leasing wins on cost most of the time. The game-changer? EVs skip fringe benefits tax entirely when salary sacrificed, amplifying your tax savings significantly. Meanwhile, car loans are paid using your after-tax salary and rack up interest charges. Sure, there's a residual to pay at lease end, but it's generally less than what you'd shell out in loan interest over the same period.

The Model Y may have a higher upfront lease cost but offers longer-range efficiency and access to Tesla’s Supercharger network. The Sealion 7 can be cheaper weekly, with strong tax benefits. A novated lease helps compare total savings, making either EV a smart choice for predictable monthly payments.

The Tesla Model Y starts from $199 per week on a novated lease, offering potential annual tax savings of around $8,875.

The BYD Sealion 7 is slightly more affordable, from $191 per week, with estimated yearly tax savings of $8,463.

For those after something sportier, the Polestar 4 comes in at $248 per week, with potential tax savings of $11,186 per year.

The BMW i4 sits higher in both cost and savings — from $284 per week and around $12,640 in annual tax benefits.

Finally, the Hyundai Ioniq 5 offers a balance between price and savings, from $272 per week and up to $10,845 in yearly tax savings.

Please note, these potential tax savings are based on a yearly salary of $120,000 a year, with a lease length of 3 years. For more personalised numbers on a Model Y novated lease, we recommend reaching out to the team for a tailored quote.

A typical term is 36–48 months. Shorter leases allow you to upgrade sooner, while longer terms reduce monthly payments. Choosing the right term depends on budget, spending habits and how often you like a new vehicle. Use our Tesla Model Y novated lease calculator to explore different term lengths and discover what your weekly payments could look like.