$3,000 Novated Lease Incentive Available for Tesla Model 3 and Model Y Variants @ Tesla

2270
$3,000 Novated Lease Incentive Available for Tesla Model 3 and Model Y Variants @ Tesla
Go to Deal
Brisbane1 on 31/10/2024 - 13:37 tesla.com (3816 clicks)
Last edited 31/10/2024 - 13:47 by 2 other users

For a limited time, access a $3,000 incentive when you order an eligible Tesla vehicle and finance the purchase by way of a novated lease.

This offer is valid exclusively for eligible purchases of all new Model 3 and Model Y Variants*. 

$3,000 Novated Lease Incentive

By participating in this offer, you agree to these Terms and Conditions. Order an eligible Tesla vehicle and finance the vehicle purchase by way of novated lease through a Novated Lease provider and take delivery by 20 December 2024 to qualify (unless extended). This offer is valid for eligible purchases of all new Model 3 and Model Y vehicles.

This offer is only available for eligible purchases financed through a novated lease with secured credit approval. Purchases of used vehicles and business customers (including fleet, enterprise, rental and government customers) are not eligible for this offer. If eligible, the incentive will be applied directly to your final invoice as a reduction from the vehicle purchase price once credit approval has been obtained and cannot be applied retroactively after delivery. Not redeemable for cash.

This information does not constitute financial or taxation advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. For detailed advice and to discuss finance options tailored to your needs, we recommend speaking with a licensed independent financial advisor.

Tesla reserves the right to change, modify, extend or terminate this offer at any time.

Referral Links

Referral: random (756)

Referee gets $700 off Model Y & 3 purchase.

Referrer gets $350 credit toward Supercharging, software upgrades, merchandise, service payments or a new vehicle. Limit of 10 referral benefits per calendar year.

Automotive Car Electric Vehicle Novated Lease SUV Tesla Inc

Related Stores

Tesla
Tesla

Comments

    • rickdwp on 31/10/2024 - 15:39

      Thats the entire lease game, you don't really save anything but thousands in tax dollars get funneled into the leech companies

  • skye89 on 31/10/2024 - 14:34
    +3

    If your workplace has Maxxia as the default salary packaging provider, do yourself a favour and avoid doing a fully maintained NL with them. My workplace contract with them is 11% interest rate.

    For those doing EV, highly recommend doing it via CBA. They offer a 1% discount for EV cars. My 3 year term is 7.19%.

    For those new to NL, most of the companies you'll find on the internet are salary packaging providers/broker combinations, in which you'll need to check with your payroll if they are allowed.

    • Repstar on 31/10/2024 - 14:58

      Problem is my workplace only allows Maxxia.

      • skye89 on 31/10/2024 - 15:01

        I am doing self-managed lease where CBA is the financier and Maxxia does the salary packaging components. Surely your workplace allows self-managed lease.

        • Repstar on 31/10/2024 - 15:13

          Nope. They have one other financier we can use - 8.9%. Maxxia's rate is 11.x% something stupid

          • shap08 on 31/10/2024 - 15:18

            @Repstar: yeah same here in Tasmanian Health, only maxxia, and no self-managed lease.

            • tazmaniak on 31/10/2024 - 20:19

              @shap08: Check thoroughly about this, I've heard you can do it in Tas health using Maxxia for packaging and separate financier.

    • Fredfloresjr on 31/10/2024 - 14:45
      +1

      Weird take.

      • crentist on 31/10/2024 - 18:12
        +1

        What's weird about someone not wanting to spend money on products that are closely associated with the very public image of a controversial and very political figure?

    • Cluster on 31/10/2024 - 14:49
      +2

      Given the opportunity, I know I wouldn't want to give Musk any money after his antics over the past few years. But, that's my choice.

    • Brick Tamland on 31/10/2024 - 14:56
      +2

      Yeah. I’d be ashamed driving a Tesla.

    • Jase83 on 31/10/2024 - 14:58
      +9

      I feel the same way about driving a Toyota or VW based on their years of deliberate deception of the public in the various emissions testing scandals.

      But not in the slightest about the personal politics or beliefs of any particular executive at any car company.

      • crentist on 31/10/2024 - 17:58
        +2

        To be fair, Elon has created a far more public image than any other executive. And that image is closely tied to his companies.

        I bet if you took the time to find out who the CEOs of any company are, learned about their personality and politics, and came to the conclusion that they are a terrible person, you would feel less inclined to buy their products.
        But you don't, and they just don't usually put themselves in the spotlight and invite that opinion.

    • dein_gesicht on 31/10/2024 - 15:01
      +1

      Not sure why all the hate. What has he specially done that is so shameful?

    • 0 0 0 on 31/10/2024 - 15:02
      +6

      Most people don't follow politics or news or don't really care.

      I still give him a lot of credit for progressing innovation and tech. Tesla and Space X are impressive tech giants. Great benefits will come for humankind from his leadership in this.

    • tmcn85 on 31/10/2024 - 15:08
      +1

      What hurty words hurt your feelings the most?

      • crentist on 01/11/2024 - 02:37

        In your case I'm guessing it was "social conscience" or "what is going on in the world"

    • Timm on 31/10/2024 - 15:15
      +1

      Because the CEOs and billionaire owners of other car companies are all stand up guys?

    • rickdwp on 31/10/2024 - 15:41
      +6

      Average Aussie has plenty of Nestle products in the cupboard - They are directly and literally responsible for the deaths of thousands or 10's of thousands of babies in Africa. Musk is a giant douche but as CEO's go he is not the shittiest, he's just very loud about it

  • MisterQ on 31/10/2024 - 14:38
    +5

    No, as a matter of Principle - because Elon is such a knob.

    • starspawn on 31/10/2024 - 14:44

      If you are following him on X atm, it is seriously concerning. He looks like an idiot

      • Frozensage on 31/10/2024 - 14:46

        im sure alot of ppl on social media are knobs, and that's a true reflection of them in RL too.

  • Frozensage on 31/10/2024 - 14:45

    what ever the interest on the NL, it's discounted by the tax rate no? since the money is coming out of your pre tax income, and then all the running cost is also getting discounted by your tax rate, add in 0 FBT, that's how NL makes sense.

    • perthhunter on 31/10/2024 - 14:54

      plus savings on GST on initial purchase and monthly costs

    • Repstar on 31/10/2024 - 14:59

      Correct

    • changyang1230 on 31/10/2024 - 18:32

      Not just the interest on NL, both the "principal" and interest are discounted by the tax rate.

      Which is why on top bracket, a 16% novated lease is still cheaper than a 6% car loan when you crunch the numbers.

  • Aemit on 31/10/2024 - 14:49
    +2

    wouldn't recommend Novated Lease if looking to buy a property during your lease years. your serviceability will be very much affected

    • serpserpserp on 31/10/2024 - 15:02
      +2

      Who knew having debt negatively affects your serviceability…. Wow you learn something new every day ..

      • Aemit on 31/10/2024 - 16:34
        +1

        not everyone knows it. i learned it the hard way, when had to pay a lot more to get out of novated lease contract to increase serviceability.

      • changyang1230 on 31/10/2024 - 18:30
        +1

        To be honest a lot of people don't actually consciously consider this even though it's logical. And the magnitude of reduced borrowing capacity is higher than what many people imagine. I have heard that NL for a 70k car can reduce the borrowing capacity by up to 200-300k if you are thinking about buying a house. You wouldn't have thought servicing a 70k car would make you afford 200-300k less of a house, would you?

        • serpserpserp on 31/10/2024 - 22:48
          +1

          Yes because it isn't the debt size but the amount of cash out the door a week. It could be a 30k car but if a balloon is due in 12 months time it is going to be a lot of cash to pay now and in 12 months.

    • Fredfloresjr on 31/10/2024 - 15:15
      +1

      Ahahaha make sure we don’t have afterpay too?

  • Fastjam on 31/10/2024 - 14:53
    -3

    Tesla having the struggles it seems, lol to him fafo
    ..BYD sold more EVs last quarter or year. Gotta keep sales up somehow

  • hamzie on 31/10/2024 - 15:00

    reasonable to go with the EV5 kia over this?

    • klaw81 on 31/10/2024 - 17:52

      Here's a comparison to give you something to think about: https://www.carsales.com.au/editorial/details/kia-ev5-air-v-…

      If you just want the conclusion, here's the spoilers:

      There’s lots to like with the 2024 Kia EV5 Air, especially the price. It also has a sensible and functional cabin and it’s comfortable on the road. But while it wins on ride comfort against the Tesla Model Y Rear-Wheel Drive, it’s outclassed in space, driving nous and tech. Having to shell out $6000 more for a larger battery also hurts when the equipment list is underwhelming and the standard EV range modest compared with the Tesla.

      In short, the EV5 is competent, but in this company it needs to be compelling. The newcomer is the most serious challenger yet to the big gun in EV sales. But the Tesla Model Y still stands tall as the best electric SUV right now – and one of the best SUVs however they’re powered.

      Bear in mind that the Juniper update to the Model Y is coming "soon" (by January or February) and will have substantial improvements in NVH, interior equipment and likely also better range & efficiency.

      • nicolascage on 01/11/2024 - 08:14

        What is NVH

        • klaw81 on 01/11/2024 - 09:17

          Noise, vibration, harshness.

  • serpserpserp on 31/10/2024 - 15:01
    +3

    HODL for juniper

    • Fredfloresjr on 31/10/2024 - 15:14

      Gotta be a long hold. No news yet at China about the release date where the production is. Gotta hold that balls until mid next year.

      • serpserpserp on 31/10/2024 - 15:14

        It is in pre-production now apparently. Release in Feb is the hot take these days

        • Fredfloresjr on 31/10/2024 - 15:16

          Even at Tesla US, no dates yet. Considering Australia is always late, just the cybertruck alone. Expect to wait long.

          • serpserpserp on 31/10/2024 - 15:21

            @Fredfloresjr: Cybertruck is not compliant in countries outside of US mostly. Model Y is fine from that perspective. Wouldn't expect a long wait.

      • McSquintus on 31/10/2024 - 15:56

        I could have sworn around midyear he posted on X saying the Model Y refresh will come in 2025. Don't know if any further official news on the timeline has come out.

  • mustang87401 on 31/10/2024 - 15:06
    +12

    driven a bunch of electric vehicle Tesla is still the absolute number one in that price segment. Everything is refined. BYD has a bunch of glitches and software issues I wouldn’t get into one for the same price.

  • kungfuman on 31/10/2024 - 15:07

    so if you own a tesla how does this work? can you trade in your tesla still?

  • nicolascage on 31/10/2024 - 15:08

    although I generally see the tax cost benefits of having a NL, what I don't understand is that a NL is tied to the employer and if you want to switch jobs or made redundant, you lose the benefits of this scheme, unless you're sure that your new employer has something similar?

    • Poor Ass on 31/10/2024 - 15:11

      if you switch jobs and the new employer does salary sacrificing and have a novated lease provider / do it in house. You can renovated and continue the arrangement. If they do not, then worse that can happen is it defaults to a regular finance loan and you make the monthly repayments yourself + the residual at lease end

      So effectively there is only a benefit if you are able to salary sacrifice with your employer

    • Parasite on 01/11/2024 - 00:10

      Personally, I'd never take a 5 year lease due to uncertainty in my industry. Been made redundant more than once before.

      When the inflated novated lease company interest rates revert to being paid with post tax dollars if you lose your job it is not such a great deal. EV lease is probably worth the gamble but never saw the benefit with NL leases on traditional ICE cars myself.

      • nicolascage on 01/11/2024 - 08:17

        I don’t the details but why would an EV lease be ‘better’ than a ICE lease? Are there government benefits?

  • Poor Ass on 31/10/2024 - 15:09
    +3

    Just want to say for those who are comparing interest rates on a novated lease it's pointless because it cannot worked out or compared normally like a loan

    There are complex formulas involved in the novated lease interest rate and the residual is also factored in

    So you need to factor in the after tax cost over x years + the residual vs your method of buying if not using a NL

    E.g. On 5 years of a NL how much does the lease, running expenses + residual cost vs cost of buying outright + 5 years of running expenses

    • samfisher5986 on 31/10/2024 - 15:18

      A loan is never better then a novated lease provided you aren't locked into a scammy NL provider so you don't even need to try and compare it to a loan.

      • Poor Ass on 31/10/2024 - 15:22
        +1

        if everything goes to plan yes you are right the NL is better

        scammy NL = everyone in the McMillan Shakespeare Group aka Remserv & Maxxia…. scum of the earth

  • osaya on 31/10/2024 - 15:39
    +7

    thanks OP, I literally made an order yesterday but I managed to regenerate a new invoice a few moments ago. this is probably the biggest saving OzBargain has made me. FTW!

    • Brisbane1 on 31/10/2024 - 15:55
      +1

      Enjoy :)

    • frank1989 on 31/10/2024 - 20:09

      Did you call Tesla to get them regenerate a new invoice?

      • osaya on 31/10/2024 - 20:56
        +1

        nope. I managed to do it myself on their website. in the order section, just re-do the financing part, and choose novated leasing again etc. and then voila, it generated a new 'final invoice' minus the 3k.

        • frank1989 on 31/10/2024 - 21:03

          You're the champ! Thank u and thanks op!

    • Niko123456 on 01/11/2024 - 07:56

      I literally picked mine up on Wednesday :(

  • paulzhang on 31/10/2024 - 15:54
    +1

    He got 15 kids to feed…

  • homersyd on 31/10/2024 - 16:10

    Any IT contractors here? Just wondering as we jump from 1 contract (aka company) to another so often, is it possible to use the same payroll company even if we get a new contract from a different agent?

    • spad on 31/10/2024 - 16:21
      +1

      my company doesn't offer novated lease to contractor. Check your company first.

      • homersyd on 31/10/2024 - 16:22

        good point, will ask them first…Thanks mate

    • mousie on 31/10/2024 - 20:59

      Go your own ABN where you can, also helps writing operational expenses off. That 4090 card is an AI write off 👍👍

    • HitlersDad on 31/10/2024 - 21:18

      Yes if your payroll company does it and you have different contracts no issue

  • kazaf on 31/10/2024 - 16:13

    I tried to use the calculator but seems like I need to pay residue after 5y > the money that I saved!? If I earned under $100k is it still worth getting it on NL?

    • spad on 31/10/2024 - 16:22

      unlikely. Someone did the math and novated lease starts to make sense after around 120k (i could be wrong about the number)

    • skye89 on 31/10/2024 - 16:28

      Most likely yes. As long as your tax bracket is well within the 30% tax bracket and the repayments + running cost deductions don't push you too far in the 16% tax bracket.

    • changyang1230 on 31/10/2024 - 18:27

      The calculator (if you are referring to mine) already incorporates this residual amount.

    • Herbse on 31/10/2024 - 19:18

      You need to take the fact that all expenses are covered, it reduces your taxable income, and the money you would otherwise have used to pay for the car can earn interest in the bank or not cost interest if you used a redraw in your home loan.

      After you take those things into consideration, it should work out more enticing.

      Someone linked a good calculator that figures all this out earlier in the thread.

  • mboy on 31/10/2024 - 16:35

    Upvoting cause it's a great deal. Doesn't help me though, I bought my Model 3 with a NL a few months ago. Couldn't speak more highly of the car.

  • mentalgymnastics on 31/10/2024 - 16:45
    +1

    i like elon, also, i voted trump

  • Mondorock on 31/10/2024 - 17:01
    -3

    Leasing cars. lol

    • Wildesy on 31/10/2024 - 17:39
      +2

      Good way of outing yourself as a low income earner.

      • moo on 31/10/2024 - 17:57

        Maybe he/she/it/they has no income or has generational wealth or living off parents. Never assume!

      • Mondorock on 31/10/2024 - 19:34
        -2

        Low income earner with Mustang GT lol sure bro

        • Wildesy on 31/10/2024 - 20:07
          +2

          Damn, son. You a made man.

        • May4th on 31/10/2024 - 21:30
          +2

          imagine thinking a Mustang is a flex

          • Mondorock on 01/11/2024 - 11:30

            @May4th: The latest Mustang GT costs nearly 90k on road. That's more than the average person can afford.

  • putshan on 31/10/2024 - 17:02

    Just want to clarify.

    I'm wanting the Model 3 LR AWD in red with white interior which comes to $70,800
    In WA you only get the EV rebate for vehicles <$70,000

    If I were to go through a NL and get the $3,000 incentive, would it take the price to $67,800 and thus allow me to also claim the Govt Rebate?

    • putshan on 31/10/2024 - 18:18
      +1

      Spoke with Tesla and indeed it will mean the cost is <$70,000 and therefore will be eligible for Govt rebate.

      • Repstar on 31/10/2024 - 19:09

        Just check the government website because in QLD when they had the $6k rebate, you couldn’t claim the $6k with a NL.

        • kfcsam on 01/11/2024 - 00:39

          In WA you can

  • The king on 31/10/2024 - 17:19

    I always read all the post and still I am not understanding how this works. If some one kindly guide me to read or watch some video to understand or explain in simple words how this whole things works and helpful in saving tax. TIA

    • putshan on 31/10/2024 - 18:17
      +16

      I can provide an example.

      You package up the cost of the car + loan as well as the running costs (insurance, tyres, 'fuel' etc.)

      Let's say your income is $140,000 (which means after tax you are left with $105,000)
      For a $70,000 car, let's say the cost of the Novated Lease comes to $20,000 per year

      That $20,000 is taken PRE-tax so your taxable income is now $120,000 (140,000-20,000)
      This means that after tax your take home income is about $92,000

      So the "cost" to your take home income is about $13,000 ($105,000 - 92,000) per year.

      At the end of the lease you then have a residual to pay (which is what is left over from the loan, which is likely to around $15,000) - so you need to pay that off to keep the car or sell it and you keep whatever you sell it for over the $15,000.

      If you choose to buy the car via a regular loan (at 2.99%) on a $70,000 car is about $15,000 per year
      So this is about $2,000 per year more than a Novated Lease AND this is JUST for the car, it doesn't include Insurance, Tyres, Rego, Maintenance etc.
      Conservatively you would say running costs are about $2,000-3,000 depending on your travel etc.
      So now you're paying about $4,000-5,000 more per year than the NL

      After 5 years this is about $20,000-25,000 more, which is very likely to be higher than the residual of the NL, so after 5 years you could realistically be $5,000-10,000 better off even after residual.

      Plus you've been spending less money on repayments so you have more in your offset or to put towards other investments.
      On the flip-side because your costs are coming out pre-tax your super contribution is lower (so take this into account).

      Your other option is to just pay the $70,000 for the car today and don't have a loan.
      However this means the $70,000 is going into a depreciating asset rather than an offset account or shares, so there is still a 'cost'.

      I hope this info is accurate, If I'm off base with this, please correct me.

      • shegeloaf on 31/10/2024 - 19:00
        +1

        Fantastic explanation.
        I just didnt get the last parts when you were talking about offsets..
        That's assuming a person had the 70k upfront and choses to buy the car outright rather than invest it whilst taking a NL right?

        • putshan on 31/10/2024 - 19:38

          Yeah correct, so the last part is a 3rd option of just buying the car with cash.

      • amsaini15 on 31/10/2024 - 19:04
        +1

        Thanks mate. Well explained.

      • Weisman on 31/10/2024 - 21:30
        +1

        One of the best OB comments this year. Well explained.

      • jenesis33 on 31/10/2024 - 22:31
        +1

        I think Super contribution been lower is not 100%. You should check with your payroll to see if they calculate super contribution before Novated Lease amount or after.

        I would imagine most company do it before. So your contribution is not affected.

        Great post btw

        • changyang1230 on 01/11/2024 - 03:08
          +2

          Yeah vast majority of employers use the original super contribution amount rather than the reduced gross salary figure post NL for the super calculation.

          Some 5-10% of them do however which result in significant reduction in super contributions each year. (I ran a poll among existing NL owner on an EV group) I agree that everyone should check with their own payroll how their super is treated.

      • The king on 01/11/2024 - 09:55

        Thanks mate this make more sense to me. I appreciate it.

      • kronosxmate on 01/11/2024 - 11:23

        How would this look for some1 earning 58~60k annual pre tax and has salary packaging and NL available thru an healthcare employer in VIC? Asking for a friend :P

        • putshan on 01/11/2024 - 12:01
          +1

          Don't buy a $70k car on $60k income :)

          Go to paycalculator.com.au and you can use this to determine the outcome based on your pay.

  • VBHBAU on 31/10/2024 - 17:21
    -2

    Nup. Still too expensive.

    • Brisbane1 on 31/10/2024 - 17:21
      +1

      Ok don't buy 😒

  • VBHBAU on 31/10/2024 - 17:40

    I'm Qld Gov and my leasing companies are a ripoff.

    • tcommy79 on 01/11/2024 - 00:50

      Me too, bit have found one for 8.9% and no fees. Need to check using that calculator but seems ok

  • frank1989 on 31/10/2024 - 18:02

    I just made an order few days ago and going with sgfleet for NL. Who should I contact to discuss about it? Or would it be automatically applied in my final invoice?

    • H_J on 31/10/2024 - 18:16

      Same with sgfleet. Whats the interest rate you get? Cheers.

Login or Join to leave a comment
Login Join