Electric vehicle finance from 48+ Australian lenders.

Eligible zero-emission electric vehicles first held after 1 July 2022 and priced under the luxury car tax threshold for fuel-efficient vehicles are exempt from fringe benefits tax when provided to an employee, including through a novated lease. The exemption for plug-in hybrids ended for new arrangements from 1 April 2025. The exempt benefit is still reported for some purposes, so check the current rules with your accountant before you order.

Because EV resale values have moved quickly as new models arrive and prices change, lenders are more conservative with balloons on electric vehicles than on utes, often capping them at a lower percentage or requiring a shorter term. A modest balloon and a term matched to how long you will keep the car protects you from owing more than the car is worth. Your broker shows the repayment with and without a balloon.

Some lenders offer a small discount on electric and low-emission vehicles, and the FBT exemption can make an EV significantly cheaper overall through a novated lease. Rates otherwise follow the usual factors: the business’s strength, the term, the amount and the vehicle’s value. Lyft Money compares lenders with green vehicle pricing alongside the rest of the panel.

The finance structures are the same — chattel mortgage, lease or novated lease — but a few things change. Some lenders offer specific EV or low-emissions products, residual and balloon settings can be more conservative because resale values are still stabilising, and charging infrastructure can sometimes be financed alongside the vehicle. For employees, eligible electric vehicles under the luxury car tax threshold may attract an FBT exemption on a novated lease. Confirm current rules with your accountant.

Yes. Electric and hybrid vehicles are financed on the same structures as any business vehicle, and some lenders offer a small rate discount for EVs. Eligible electric vehicles under the luxury car tax threshold may also be exempt from fringe benefits tax when provided to employees, which can make a novated lease or a business-owned EV significantly cheaper. Your broker and accountant can confirm the treatment for your situation.

Eligible electric vehicles under the luxury car tax threshold for fuel-efficient vehicles are exempt from fringe benefits tax when provided through a novated lease. That means the whole lease payment and running costs can come out of pre-tax salary with no FBT to offset, which for many employees makes an EV cheaper to run than a similar petrol car bought with a loan. Plug-in hybrids lost the exemption for new arrangements from April 2025, so check the current rules for the vehicle you have in mind.

Often, yes. A wall charger and its installation can be included in the amount financed by many lenders when quoted with the vehicle, and some novated lease providers bundle home charging into the package. Chargers for a business premises can alternatively be financed as equipment. Ask your broker to include the charger quote so it settles with the car.

A novated lease is a three-way arrangement between an employee, their employer and a financier, where the employer deducts the vehicle payments from the employee's salary. It is only available to employees whose employer offers salary packaging, not to a business buying its own vehicle. The tax treatment involves fringe benefits tax rules, and concessional treatment applies to some eligible electric vehicles. Your payroll department and accountant should confirm the position before you sign.

A novated lease is a three-way agreement between you, your employer and a finance company. You choose the car, the finance company leases it to you, and your employer takes over the lease payments and running costs, deducting them from your salary, partly before tax. You use the car as your own, and if you leave the job the lease goes with you. It is available to employees whose employer offers salary packaging, which includes most government, health, education and many private employers.

Lease payments and running costs come out of your salary before income tax, which lowers your taxable income. Because a car provided this way is a fringe benefit, fringe benefits tax applies, and most arrangements use the employee contribution method, where part of the cost is paid from after-tax salary to offset the FBT. The result is usually a saving compared with paying for the same car from after-tax income, and the saving is larger at higher incomes and for eligible electric vehicles. We show the comparison against a car loan for your salary and vehicle.