Save $1,000s instantly with a GST discount on your BYD Atto 3
Pay $0 GST on packaged running costs (e.g. charging)
Eligible for fringe benefits tax exemption
Shopping around for the right novated lease can save you thousands of dollars in interest and fees.
In our BYD Atto 3 novated lease guide:
With a price point well below either Tesla model, the Atto 3 offers a lower-bar entry for drivers looking to make the switch to an electric vehicle.
The fact that a novated lease on a BYD Atto 3 is eligible for the generous fringe benefits tax exemption makes it all the more cost effective. The potential savings are significant.
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BYD Atto 3 (Standard range)
BYD Atto 3 (Extended range)
A novated lease on a BYD Atto 3 means being able to pay for your car and car running costs using your pre-tax salary.
Your employer deducts a regular car payment from your salary before tax is deducted. This arrangement with your employer is known as salary sacrificing a car. It means you pay less income tax.
The car running costs you can include in your BYD Atto 3 novated lease include: charging registration and CTP, comprehensive car insurance, servicing, tyres, car washes.
Both the BYD Atto 3 Standard Range and Extended variants are eligible for the novated lease fringe benefits tax (FBT) exemption for low-emission vehicles in Australia.
This means that in addition to the standard tax savings available with all novated leases in Australia, it’s possible to save thousands more on a BYD Atto 3.
With a novated lease that’s eligible for the FBT exemption, you’ll be able to cover 100% of your lease costs (including car running costs) using your pre-tax salary. This significantly increases the benefit of a novated lease on an electric vehicle like the Atto 3.
In most cases, the FBT exemption will make it cheaper to purchase a BYD Atto 3 through a novated lease compared to a car loan, or even paying for the car outright with cash.
Bear in mind some related costs are not included in the FBT exemption, such as the cost of installing a battery or fast charger in your home.
To be eligible for a novated lease on a BYD Atto 3, you’ll need to be employed and work for a company that offers novated leasing as a benefit. Not all companies offer this, but if you speak to your employer they may be willing to facilitate a novated lease for you, even if it’s not a current benefit.
The residual payment on your BYD Atto 3 novated lease will depend on the purchase price of the vehicle and the length of your lease. As an example, the residual payment on a BYD Atto 3 Standard Range (purchase price: $49,113) with a 5-years novated lease term would be $13,846.45, or 28.13% of the purchase price. This is based on the minimum residual value rates set by the ATO.
The residual on a novated lease is one of the factors to weigh up when deciding if a novated lease is worth it for you. It can come as a shock when the payment is due, but it does mean the regular payments on your BYD Atto 3 novated lease will be lower during the lease term.
Remember, you'll also have the option to extend your term when your current novated lease ends. If you do this, you do not need to pay the residual amount when the initial lease ends.
The novated lease company facilitating your lease will advise you on your options when the term ends.
Novated lease guides and resources
Find out more about the possible savings, benefits and things to watch out for, plus your range of options with a novated lease in Australia.