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Can be 10-15% cheaper than paying cash for your EV*
^Savings from reduced income tax payable and GST credits available for leases. Includes all interest and lease costs. Based on $150k salary, 3 year loan term, 8.34% interest rate & $75k vehicle price.
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How a novated lease works in
3 easy steps
Discover Your Potential Savings
Uncover the financial advantages of a novated lease by using our intuitive savings calculator. Get started now by providing a few details about your desired vehicle and salary.
Personalised Savings Estimate
Complete the calculator and immediately see an estimate of your potential tax and cost savings. Our clear breakdown will help you understand the benefits at a glance.
Tailored Guidance & Next Steps
Once you see your estimated savings, Driva will guide you through the next steps to secure your novated lease, empowering you to make an informed decision about your vehicle financing.
How a novated lease works in
3 easy steps
Uncover the financial advantages of a novated lease by using our intuitive savings calculator. Get started now by providing a few details about your desired vehicle and salary.
Complete the calculator and immediately see an estimate of your potential tax and cost savings. Our clear breakdown will help you understand the benefits at a glance.
Once you see your estimated savings, Driva will guide you through the next steps to secure your novated lease, empowering you to make an informed decision about your vehicle financing.
Win $200 fuel voucher
Get pre-approval in 2 minutes to go into the draw to win 1 of 10 $200 fuel vouchers.
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How does a novated lease work?
A novated lease is an arrangement between you, your employer and a leasing company where your employer uses your gross salary (before tax is deducted) to pay the leasing company for a car you use privately.
What is Driva?
Driva’s mission is to help you navigate existing lenders in the market and obtain finance for new or used vehicles.
There’s already so many finance lenders out there, we thought adding another name to the list wouldn’t help. This means we don’t have any incentive to steer you down the wrong path.
We take the hard work out of the online application process from start to finish providing a seamless and hassle free experience. We’re 100% transparent, so there are no hidden surprises and provide you with personalised rates based on your profile. This means no last minute rate changes just before you sign the contract, so you can get the best deal possible for your dream car.
What should I do if I need help using the novated lease calculator?
If you need assistance with our novated lease calculator or have any questions, please don't hesitate to contact Driva for support. You can reach us by phone at 1300 755 494 or via email at contact@driva.com.au. Our team is here to help ensure you have all the information you need!
How does a novated lease affect my income tax?
Repayments are pre-tax, lowering your taxable income. For electric vehicles, tax savings are even greater due to FBT exemption.
Can novated leases be transferred if I change jobs?
Yes, novated leases are transferable. Lease obligations can follow you to a new employer or attach to your new job.
What are the benefits of a novated lease?
There are many benefits of financing your new vehicle purchase with a novated lease including:
- Tax advantages
- The choice of a new or used vehicle
- Running costs such as services, fuel and registration can be included
- Save money with an exemption of paying Fringe Benefits Tax (FBT) on eligible EVs financed under a novated lease
- Budget convenience
What is the 'Electric Car Discount' policy?
The Labor Government launched its first ever electric vehicle strategy in September 2022, and in November 2022, the Treasury Laws Amendment (Electric Car Discount) Bill passed through the Federal Parliament, which will provide up to $2000 off the purchase price of battery-electric and plug-in hybrid vehicles (PHEV), as well as Fringe Benefits Tax (FBT) exemptions for fleets and novated leases.
The Government will apply the exemption retrospectively to eligible cars first used on or after July 1, 2022.
PHEVs will initially be covered, but the offer will expire on April 1, 2025.
