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

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$3,000 Novated Lease Incentive Available for Tesla Model 3 and Model Y Variants @ Tesla
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Brisbane1 on 31/10/2024 - 13:37 tesla.com (6010 clicks)
Last edited 29/11/2024 - 12:55 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 (889)

Referee gets $1400 off Model Y & 3 purchase.

Referrer gets $700 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

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Comments

    • starspawn on 31/10/2024 - 14:43
      +1

      What is the game plan though, will you eventually pay it off to keep the car for 5 + years?

      NL to me just seems like paying money for a car you never own?

      • skye89 on 31/10/2024 - 14:47
        +1

        The game plan is to save several thousand of dollars of tax over 5 years and keep that money in the offset or use it elsewhere. My lease saves me $15000 using the FBT EV exemption. No need to pay upfront for the car.

        • [Deactivated] on 31/10/2024 - 15:39
          -2

          Yeah except it likely isn't - Lease companies screw at every turn to the point unless you are in the 180k+ tax bracket it's very unlikely you'll save anything after paying inflated interest, inflated insurance, inflated fuel/power, inflated tyres/maintenance etc

        • whyisave on 25/11/2024 - 18:38

          No need to pay upfront for the car.

          The balloon / residual payment means, having that lump of cash available, at the end of the novated lease.

      • May4th on 31/10/2024 - 14:48

        you can own it if you want to, it's just usually more tax effective to recycle the lease or start a new one. after 5 years the residue value is 30% so it'd be 16-17k to keep the car but most people will sell and lease a new car assuming FBT exemption is extended in 2027

        • changyang1230 on 31/10/2024 - 18:37
          +1

          It kind of depends on
          - whether you "want" or "need" a new car
          - how much the replacement car is worth
          - whether you can still do FBT-exempt NL on this new car
          - how much is your running cost of the now 5-year-old Tesla vs the running cost of this new car.

          Personally if my 5-year-old tesla still services me well, and it continues to enjoy low running cost, then I suspect keeping it instead of NL or buying a new car is a more economical option. In fact, there's also an option of extending the novated lease on a 5-year-old car, and if FBT-exemption is still in place, extending this lease for a few more years will always be cheaper than NL-ing a new EV.

          • May4th on 31/10/2024 - 20:24

            @changyang1230: after 5yrs the residual value would be quite minimal you're more getting deductions on maintenance/insurance etc rather than the vehicle itself.

            I suppose it's a similar fallacy to negative gearing..the more tax you 'save' you have to spend more in the first place

      • Jase83 on 31/10/2024 - 14:55
        +1

        I haven't worked out exactly what I will do when the 3yrs is up. It was my first time leasing a car and I must admit I am not an accounting expert - but based on the public calculators it seems beneficial for a high income full time earner. My novated lease % is about 7.8% from memory. I think a lot of places are quoting a fair bit higher now.

        And like skye89 mentioned, I keep the money I would have spent buying it outright in my mortgage offset.

        • starspawn on 31/10/2024 - 15:06

          So essentially the deposit you would have used towards a traditional car loan, is saved in your offset.

          I am going through the Reddit provided calculator to try and compare traditional car loan to NL to see how it stacks up

          • Jase83 on 31/10/2024 - 15:18
            +1

            @starspawn: I also get a 4.2c per km ATO deduction/rebate (again not an accountant I'm probably using the wrong term). But since I charge for free during the OVO 3hr 11am-2pm window, it costs less than nothing to fill/charge. Obviously not a reason to buy an EV just for that, but a bonus.

            • changyang1230 on 31/10/2024 - 18:34

              @Jase83: Not sure if you realise but even though you are charging for free in reality, you should still claim the 4.2c / km reimbursement as it's effectively a tax-refund for you.

              So overall, your real electricity cost is NEGATIVE i.e. the more you charge the more profit you make from it.

              • Jase83 on 31/10/2024 - 22:15

                @changyang1230: Yep thanks, my lease provider asks for the odometer reading each quarter - then they transfer me the calculated amount.

      • Timm on 31/10/2024 - 15:13
        +1

        You can choose to own it at the end by paying the residual, which is about $16k.

        Or roll it over into another new car.

        Or sell it, pay the residual and pocket the difference. Considering 5 year old second hand Tesla's now are still selling for $30k+

    • [Deactivated] on 31/10/2024 - 15:37
      -1

      Also had mine for about 18 months, not notated lease (not supporting those leeches)

      Have had a few issues/critiques:
      - Roof rattling
      - Drivers seat plastic control panel broke off
      - Couple occasions screen hasn't turned on (easily fixed with the restart shortcut on the steering wheel)
      - The non-adjustable driver/passenger headrests are terrible and utterly stupid design
      - Rear headrests hardly move which makes using the tethers on Australian carseats finicky
      - Range is a huge LIE, whatever it claims your range is I would take 35% off
      - Spotify and YouTube music often have connection issues
      - Could really do with lights in the door handles, real pain to find in the dark especially black handles on a black car. They're also super unfriendly if you have any type of hand disability/injury (elderly/arthritis in-particular)

      Otherwise, great car, drives fanatically makes basically any ICE car feel like a slug, is super cheap to run (even with the BS range) and so quite

      • Jase83 on 31/10/2024 - 22:17

        Ah I do have a rattle above 70kmh on really coarse bitumen roads - but I haven't gone to the extent to take the kids seats and my wife's crap out of the storage bins to really narrow down if it's coming from the car and where.

        • [Deactivated] on 01/11/2024 - 21:38
          +1

          If you push against the roof trim near the front of the glass roof on either the drivers or passenger side and it stops, that's ya problem. It's a none issue, they fix it with some foam bits :)

      • klaw81 on 01/11/2024 - 09:16
        +2

        I have a Model 3 of similar vintage.

        No issues with roof rattles or screen power, and Youtube Music has worked for me every time I've used it. I agree that the headrests should be adjustable, but I'm okay with their position.

        The door handles appeal to my engineering brain, but I agree that their design is very impractical and non intuitive. The fact that you have to explain to people how to use them is an indication of design failure. And they are near impossible to find in the dark.

        I really like that the screen controls almost everything and keeps the console area totally clean and free of clutter. I wish there was hardware control of the temperature and fan speed - that's my only gripe with the whole control scheme.

        Totally agree with your summary - drives beautifully, the instant torque is addictive, and the low cost of travel and convenience of home charging is amazing. Zero regrets - I have owned a lot of cars and this is easily my favourite.

  • aedeau on 31/10/2024 - 14:33

    "The 2.99% p.a. interest rate (3.99% p.a. comparison rate) offer from Plenti cannot be combined with the $3000 Novated Lease incentive."

    I just got a quote for a shark on a 5 year lease they quoted 11.85%!! crazy.

    • abs898 on 31/10/2024 - 15:22

      Because it's 3000 off with NL.

    • [Deactivated] on 31/10/2024 - 15:39
      +1

      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
      +3

      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
      +3

      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"

        • tmcn85 on 01/11/2024 - 21:33

          Seeing as we’re making predictions then your response likely translates to “criticise muh socialism” and “more socialism will fix everything”

          • crentist on 02/11/2024 - 04:01

            @tmcn85: No, my response translates to "make an actual point instead of being vapidly condescending and defensive just because someone called Elon a clown"

            Sorry, not everyone can love him as much as you do 💔
            But is there an actual reason for that love or is it as blind and empty as you make it sound?

            • tmcn85 on 02/11/2024 - 10:46

              @crentist: Don’t love or hate Elon. I do appreciate him purchasing Twitter and making efforts in support of free speech, is that your issue with him? Or do you just wanna call names and that’s that?

              • May4th on 02/11/2024 - 12:03

                @tmcn85: and how did that work out? he personally intervened to quash posts that threatened his political leanings. free speech is a ruse the rich use to push their agenda

              • crentist on 02/11/2024 - 13:40

                @tmcn85: Twitters own reports show that they are banning more people, with more political motivation

                So no it's not just about calling him names. It's about recognising that he earns those names if you look behind the veneer.

                He has great engineering companies like Tesla, but was so butthurt about people not liking him that he bought Twitter to make his own rules for free speech.
                And he's so offended by government regulations that he's become a prominent voter-buying cheerleader for trump to buy the government regulators for himself.

                He talks about efficiency and red tape for everyone, to paper over the goal of gutting any form of oversight that he is personally bothered by. Which hasn't prevented him becoming the richest man in he world, but prevents pesky things like dumping pollution wherever he wants and botching experimental animal surgeries en masse.

                But yea nah he'll let you be more of an prick online if you don't upset his friends, so I guess he's pretty cool eh

                • tmcn85 on 02/11/2024 - 15:52

                  @crentist: Maybe there’s a cream you could try..

                  • crentist on 03/11/2024 - 00:05

                    @tmcn85: Blind empty love, and proud of it.
                    Thanks for confirming 🙏

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

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

    • [Deactivated] 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
    +4

    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
      +1

      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
    +3

    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
      +3

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

      • Aemit on 31/10/2024 - 16:34
        +2

        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
        +2

        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.

      • hamzie on 02/11/2024 - 17:46

        thanks a lot
        might wait to see what next year has

  • 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
            +1

            @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

      • Nom on 02/11/2024 - 19:20

        The "regular finance loan" is extremely uncompetitive though - you're likely to be paying an interest rate of around 10% so the car suddenly becomes very expensive if you lose the salary sacrifice.

    • Parasite on 01/11/2024 - 00:10
      +1

      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.

  • 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
        +2

        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.

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