Have you noticed more and more Teslas on the roads during your morning commute? They seem to be everywhere at the moment and are dominating auto headlines in 2024, with a range of new innovations and updates to its popular models, such as the Tesla Model 3 and Model Y.

From cutting-edge autopilot features to improvements in battery range and charging infrastructure, Tesla remains a top choice for those looking to switch to electric vehicles (EVs). But with all the buzz, a key question many potential buyers face is how to make a Tesla more affordable as the sticker price can often be outside the household budget.

This is where novated leasing comes into play, offering a tax-effective way to drive a Tesla while saving on costs. 

1. Tesla Model 3 and Model Y: Why Are They on Every Suburban Street?

The Tesla Model 3 and Model Y continue to be some of the most sought-after electric cars in the market. With its sleek design, impressive range, and cutting-edge tech, the Model 3 has become a benchmark for EV enthusiasts. The 2024 version boasts improved interior comfort, better sound insulation, and enhanced Autopilot capabilities, making it even more appealing.

Meanwhile, the Model Y is on track to become one of the best-selling vehicles globally this year. Its spacious interior and versatile features have made it a favorite among families and professionals alike. For many buyers, the challenge is managing the upfront cost, and that’s where novated leasing can be a game-changer.

2. Autopilot and EV Technology: Driving the Future

Tesla’s Autopilot and Full Self-Driving (FSD) features remain a significant draw for consumers, with many eager to experience the latest advancements in autonomous driving. While the technology still requires driver attention, it offers a glimpse into a future of more relaxed and safe driving experiences.

This cutting-edge tech comes at a premium, but a novated lease can help spread out the costs, making it easier for Australian drivers to enjoy the latest Tesla technology without the high upfront investment. 

3. The Financial Benefits of a Novated Lease for Your Tesla

So, how does a novated lease help make a Tesla more affordable? Here’s how this leasing option can maximize your savings:

• Tax Savings: With a novated lease, your lease payments are made with pre-tax dollars, reducing your taxable income. This is particularly beneficial for middle to high-income earners, allowing you to enjoy the tax advantages while driving a premium vehicle like a Tesla.
• GST Exemption: When you lease a Tesla through a novated lease, you don’t pay GST on the purchase price or the running costs like maintenance and insurance. This can result in significant savings, helping to make the higher price tag of a Tesla more manageable.
• Bundled Costs: Novated leasing allows you to bundle all vehicle-related expenses—such as insurance, registration, and even charging costs—into a single payment. This simplifies budgeting and ensures you have a clearer understanding of your overall vehicle costs. 

4. Tesla’s Supercharger Network: Convenience for the EV Lifestyle

Tesla’s Supercharger network is a major selling point for anyone considering an electric vehicle, as it provides convenient access to fast charging across the country. You’ll be surprised to find how close a supercharger is to your workplace or home. For many Tesla drivers, this infrastructure is a crucial factor in their decision-making process.

With a novated lease, the costs associated with charging can be included in your lease package, allowing you to take advantage of the lower running costs of an EV compared to traditional petrol vehicles. This not only makes long-distance travel more affordable but also means you can enjoy the perks of driving an electric car without worrying about unpredictable costs. 

5. Is a Tesla Novated Lease Worth It?

With all the innovation and performance that Tesla offers, many drivers might wonder if a novated lease is the right choice for them. Here are a few key reasons why leasing a Tesla can be a smart move:

• Access to the Latest Models: Tesla’s frequent updates mean that their cars are continually improving. A novated lease allows you to upgrade to the latest model every few years, ensuring you always have access to the newest features and improvements in range, design, and technology.
• Reduce Upfront Costs: Instead of paying a large sum upfront, a novated lease allows you to spread out the cost of your Tesla over the lease term. This makes the transition to a premium EV more accessible, even for those who might otherwise find it out of reach.
• Savings on Running Costs: With lower maintenance and fuel costs compared to petrol cars, a Tesla can be even more cost-effective when combined with the tax benefits of a novated lease.

Conclusion: Make the Move to Tesla with a Novated Lease

As Tesla continues to innovate and expand its market presence this year, more Australians are considering making the switch to electric vehicles. Whether you’re drawn to the advanced Autopilot features, the impressive range of the Model 3, or the spacious comfort of the Model Y, a novated lease can make driving a Tesla more accessible and financially rewarding.

By combining the tax savings, GST benefits, and convenience of bundled costs, a novated lease makes it easier to experience the future of driving with a Tesla. If you’re ready to explore your options, CarBon Novated Leasing can help you find the perfect Tesla and maximise your savings.