Best EVs for a Novated Lease in Australia 2026

The FBT exemption makes novated leasing the most tax-effective way to get an EV in Australia. But with over 90 eligible models on sale, choosing the right one depends on your budget, driving needs, and how much you want to maximise the tax benefit.

This guide ranks the best EVs for a novated lease in 2026, grouped by budget. Every vehicle listed is FBT-exempt (under the $91,387 luxury car tax threshold) and available for delivery now. For the full mechanics of how an EV novated lease works, see our complete novated lease guide. To model your own numbers, use our novated lease calculator. For the complete overview, eligibility, savings by salary and the traps, start with our EV novated lease Australia hub.

How we picked these

We ranked eligible EVs on value per dollar of pre-tax salary, considering:

• Range per dollar, real-world range relative to price, because a novated lease amplifies value (every dollar spent is pre-tax)
• Running costs, cheaper to run = more total savings over the lease
• Residual risk, models with strong resale values reduce end-of-lease balloon risk
• Availability, must be orderable now with reasonable delivery times
• Practicality, boot space, charging speed, ANCAP safety

We excluded EVs that are technically eligible but impractical for most buyers (commercial utes, two-seaters, models with no dealer network).

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Best budget EVs for novated lease (under $40,000)

These are the best value for salary sacrifice. Lower vehicle price means lower fortnightly deductions and faster payback on the tax benefit.

BYD Dolphin Essential, $32,699

The default recommendation for budget novated leasers. 340 km range covers a week of typical commuting on a single charge. Apple CarPlay/Android Auto, 8 years battery warranty, and BYD’s growing dealer network make it the safest budget choice.

• Range: 340 km
• Battery: 44.9 kWh (LFP)
• Boot: 345 L
• ANCAP: 5 stars
• Charging: 7 kW AC / 88 kW DC
• Full specs →

Why it works for novated lease: At $32,699, a 3-year lease at $80,000 income reduces your take-home by roughly $200/fortnight after tax benefits. LFP battery chemistry means no degradation concerns over the lease term. Strong resale value keeps the residual manageable.

BYD Atto 2 Dynamic, $34,208

If you want an SUV body for under $35,000, the Atto 2 is the pick. Higher seating position, larger boot than the Dolphin, and the same BYD LFP platform reliability.

• Range: 345 km
• Battery: 45.1 kWh (LFP)
• Boot: 400 L
• ANCAP: 5 stars
• Charging: 7 kW AC / 80 kW DC
• Full specs →

MG MG4 Excite 51, $37,990

The driver’s choice in this bracket. Rear-wheel drive, low centre of gravity, and genuinely engaging handling. The 350 km range is slightly less than the Dolphin but the MG4’s chassis dynamics are in a different league.

• Range: 350 km
• Battery: 51 kWh (LFP)
• Boot: 363 L
• ANCAP: 5 stars
• Charging: 6.6 kW AC / 117 kW DC
• Full specs →

Jaecoo J5 EV Summit, $36,990

The value dark horse. 402 km range for under $37,000 is the best range-per-dollar in this bracket. Jaecoo is Chery’s premium sub-brand, which means access to Chery’s dealer and service network.

• Range: 402 km
• Battery: 55.5 kWh
• Boot: 412 L
• Charging: 6.6 kW AC / 80 kW DC
• Full specs →

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Best mid-range EVs for novated lease ($40,000–$55,000)

The sweet spot for novated leasing. Big enough tax savings to be meaningful, practical enough for families, and well within the FBT threshold.

BYD Atto 3 Premium, $44,990

The most popular novated lease EV in Australia for good reason. 480 km range eliminates range anxiety, the interior quality punches above its price, and the Premium trim adds a rotating touchscreen, panoramic roof, and V2L (vehicle-to-load) for powering appliances.

• Range: 480 km
• Battery: 60.5 kWh (LFP)
• Boot: 440 L
• ANCAP: 5 stars
• Charging: 7 kW AC / 88 kW DC
• Full specs →

Why it works for novated lease: At $44,990 and $100,000 income, you save roughly $14,000 over 3 years versus buying outright. Strong resale value (BYD Atto 3 holds value well in Australia due to demand), 8-year battery warranty covers the full lease term and beyond, and 480 km range means minimal public charging costs.

Tesla Model 3 RWD, $54,590

Tesla’s entry point. Supercharger network access, over-the-air updates, and the strongest brand recognition in EVs. The RWD variant sits comfortably under the FBT threshold.

• Range: 513 km
• Battery: 60 kWh (LFP)
• Boot: 561 L (front + rear)
• ANCAP: 5 stars
• Charging: 11 kW AC / 170 kW DC
• Full specs →

Why it works for novated lease: Fastest DC charging in this price range (170 kW). 11 kW onboard charger means it can use a 3-phase home charger effectively. Tesla’s resale values are strong, reducing residual risk at lease end.

Hyundai Kona Electric, $45,990

The safe choice. Hyundai’s dealer network is the most established of any EV brand in Australia, servicing is straightforward, and the Kona Electric has a proven track record.

• Range: 370 km
• Battery: 48.4 kWh
• Boot: 466 L
• ANCAP: 5 stars
• Charging: 11 kW AC / 102 kW DC
• Full specs →

BYD Seal Dynamic, $46,990

If you want a sedan over an SUV, the Seal Dynamic is the pick. Sleek design, excellent highway manners, and 460 km range. The Seal’s platform is a step above the Atto 3 in refinement.

• Range: 460 km
• Battery: 61.4 kWh (LFP)
• Boot: 400 L
• ANCAP: 5 stars
• Charging: 7 kW AC / 110 kW DC
• Full specs →

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Best premium EVs for novated lease ($55,000–$90,000)

Higher price means bigger absolute tax savings. At $120,000+ income, a $70,000 EV on a novated lease can save $18,000–$25,000 over 3 years.

Tesla Model Y RWD, $57,990

The most popular EV in Australia, full stop. SUV practicality, Tesla’s Supercharger network, and strong resale values make it the default premium novated lease choice.

• Range: 455 km
• Battery: 60 kWh (LFP)
• Boot: 854 L (seats up)
• ANCAP: 5 stars
• Charging: 11 kW AC / 170 kW DC
• Full specs →

Why it works for novated lease: At $57,990 and $120,000 income, you save roughly $18,000-$20,000 over 3 years. The Model Y has the strongest resale value of any EV in Australia, which means the residual balloon at lease end is well-covered by the car’s market value. You can confidently pay the residual and own a car worth more than what you owe.

Hyundai Ioniq 5, $60,990

800V architecture means 10-80% DC charging in 18 minutes. V2L capability for powering appliances. The most technically advanced EV in this price range.

• Range: 481 km
• Battery: 63 kWh
• Boot: 527 L
• ANCAP: 5 stars
• Charging: 11 kW AC / 233 kW DC
• Full specs →

Volvo EX30 Plus, $59,990

Volvo’s entry into affordable EVs. Compact outside, surprisingly spacious inside. Google Built-In infotainment, sustainable interior materials, and Volvo’s safety reputation.

• Range: 400 km
• Battery: 51 kWh (LFP)
• Boot: 318 L
• ANCAP: 5 stars
• Charging: 11 kW AC / 134 kW DC
• Full specs →

Kia EV6 GT-Line, $72,590

If you need space and charging speed. 800V architecture like the Ioniq 5, but with a sportier design and 1,600 kg towing capacity. V2L capability lets you power appliances from the car. The GT-Line trim justifies the price on a novated lease where every dollar is pre-tax.

• Range: 494 km
• Battery: 84 kWh
• Boot: 490 L
• ANCAP: 5 stars
• Charging: 11 kW AC / 233 kW DC
• Full specs →

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Novated lease savings by salary bracket

The tax benefit scales with your marginal rate. Here is the approximate 3-year saving (versus buying outright with after-tax dollars) for three popular models:

Income bracket	$35,000 EV (BYD Dolphin)	$45,000 EV (BYD Atto 3)	$58,000 EV (Tesla Model Y)
$45,001–$80,000 (30% + 2% Medicare)	~$8,500	~$11,000	~$14,500
$80,001–$135,000 (32% + 2%)	~$9,500	~$12,500	~$16,000
$135,001–$190,000 (37% + 2%)	~$11,000	~$14,500	~$18,500
$190,001+ (45% + 2%)	~$13,000	~$17,000	~$22,000

Estimates assume a 3-year lease, 7% finance rate, and include running costs (insurance, registration, charging, servicing). Actual savings depend on your provider’s rates and your employer’s packaging agreement. Use our novated lease calculator for a personalised estimate, or see our novated lease by salary guide for worked examples at $60k, $80k, $100k, $150k, and $200k.

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Don’t forget the charger

All major novated lease providers let you bundle a home EV charger into the lease. The charger cost is treated as a vehicle accessory, spread across the lease term, and paid from pre-tax salary. A $2,000 charger effectively costs you $1,360 at the 32% rate.

See our EV charger comparison tool for the best home chargers, or read our novated lease charger bundling guide for how the process works with each provider.

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What to watch out for

Before you sign, read about the reportable fringe benefits trap, the car benefit is still reported on your income statement even though no FBT is payable, which can affect HECS repayments and Medicare Levy Surcharge.

For a full breakdown of how novated leasing compares to buying or financing, see our novated lease vs car loan comparison.

To run your own numbers with your specific salary and chosen vehicle, use our novated lease calculator.