So, if you’ve been considering a novated lease, no doubt you’ve found out that EV’s under the LCT threshold qualify for an exemption from FBT. Meaning seriously huge savings vs any other type of financing (yes even if you’ve got $70K cash burning a hole in your pocket!). And if you’ve been considering an EV, we urge you to beg, borrow and steal to purchase it through salary packaging. If your employer isn’t set up, give Fincar a call so we can help.
There’s a bunch of brand new models that fit this category and priced below the Luxury Car Tax (LCT) threshold of $91,387 for fuel-efficient vehicles. Here are some notable upcoming models:
Audi Q4 e-tron
Expected in early 2025, this compact electric SUV offers both single motor front-wheel drive and dual motor all-wheel drive (Quattro)
options. Starting at $84,900 plus on-road costs, it remains under the LCT threshold.
BYD Sealion 7
Set to arrive in early 2025, the BYD Sealion 7 is a mid-sized electric SUV positioned to compete with models like the Tesla Model Y. With an estimated starting price around $55,000, it offers a compelling blend of performance and affordability.
Zeekr X
Available for pre-order since September 2024, the Zeekr X is a mid-size electric SUV priced at $56,900 plus on-road costs for the rear-wheel drive variant and $64,900 plus on-road costs for the all-wheel drive variant. Both configurations are priced below the LCT threshold.
Hyundai Inster
Launching in early 2025, the Hyundai Inster (known as the Casper Electric in other markets) is a compact electric crossover. While specific Australian pricing is yet to be confirmed, it’s anticipated to be competitively priced, likely well below the LCT threshold.
Polestar 4
Expected to arrive in Australia in 2025, the Polestar 4 is a compact luxury electric SUV. While official Australian pricing hasn’t been announced, it’s anticipated to be positioned competitively within the market, potentially below the LCT threshold.
Leapmotor C10
Introduced by Chinese brand Leapmotor, the C10 is an electric vehicle aimed at suburban families. Priced under $50,000, it offers an affordable entry into the EV market.
Kia EV5
Set to compete in the mid-sized SUV segment, the Kia EV5 offers a driving range of over 600 km and is expected to be priced below $60,000, making it a strong contender in the Australian EV market.
Cadillac Lyriq
Marking Cadillac’s return to Australia, the Lyriq is a luxurious electric SUV boasting a 530 km range. While pricing details are yet to be confirmed, it’s expected to be competitively priced within the luxury EV segment.
Please remember that vehicle specifications, pricing, and release dates are subject to change!