Hyundai IONIQ 5 Novated Lease

  • Save $1,000s per year with a Hyundai Ioniq 5 novated lease
  • Pay $0 fringe benefits tax on eligible models

How much is the Hyundai IONIQ 5 variant you want to novate?

hyundai ioniq 5 novated lease
hyundai ioniq 5 novated lease

What a Hyundai Ioniq 5 novated lease offers

Best match guarantee

Up-front GST saving of $6,191 on your IONIQ 5

Novated Lease

Pay $0 GST on your running costs (including charging)

Consolidating debt

Fringe benefits tax exemption on eligible variants

Shopping around for the right novated lease can save you thousands of dollars in interest and fees.

In our Hyundai IONIQ 5 novated lease guide:











One of several EVs in Hyundai’s expanding range, the IONIQ 5 is fast establishing itself as a favourite among Aussie EV drivers. It made the list of the top 10 best selling EVs for 2022, behind models like the Tesla’s Model 3 and Model Y, as well as BYD’s Atto 3.

But with a badge on the bonnet that Aussie drivers are very familiar with, Hyundai’s IONIQ 5 could make an ideal first EV for drivers looking to make the transition.

Its standard pricing is not cheap, but thanks to the fringe benefits tax exemption on EV novated leases, the actual cost is significantly reduced for eligible drivers.

Hyundai IONIQ 5 novated lease costs

VehicleEstimated drive-away priceUp-front GST savingWeekly novated lease costTotal tax saving during lease

Hyundai Ioniq 5 (Dynamiq)





Hyundai Ioniq 5 (Techniq)





Important: Vehicle price estimates as at June 2023. Calculations assume a NSW driver with an annual pre-tax salary of $120,000 and 15,000km driven annually over a 5-year lease. Estimated vehicle running costs include charging, comprehensive car insurance, servicing, registration and tyres.

novated lease companies

Hyundai IONIQ 5 novated lease: How it works

With a novated lease on a Hyundai IONIQ 5, you can pay for the car and car-running expenses using your pre-tax salary.

With each pay cycle, your employer deducts the novated lease payment from your salary before tax is deducted. This is known as salary sacrificing a car and means you pay less income tax.

A novated lease company helps with establishing the lease and creating the budget for your car running costs.

Hyundai IONIQ 5 running expenses

What car running expenses can be included with a Hyundai IONIQ 5 lease?

The car running costs you can include in your Hyundai IONIQ 5 novated lease include:

  • Charging
  • Registration and CTP
  • Comprehensive car insurance
  • Servicing
  • Tyres
  • Car washes

Some related expenses, like the cost of installing a home battery or fast charger for your IONIQ 5, can’t be included.

Tax implications

Hyundai IONIQ 5 variants eligible for the novated lease FBT exemption

The IONIQ 5 Dynamiq and Techniq variants are eligible for the novated lease fringe benefits tax (FBT) exemption for low emission vehicles.

This is because the purchase price of these variants is below the luxury car tax threshold.

It 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 Hyundai IONIQ 5.

In most cases, this makes a novated lease considerably cheaper than other Hyundai finance options like a car loan, or even buying the car outright with cash.

You can also compare novated lease deals on other vehicle makes and models.

Compare loans in 60 seconds

Get a quick novated lease quote

See how much you could save on your IONIQ 5 plus running costs with a novated lease. Get a personalised, no-obligation quote today.


Hyundai IONIQ 5 novated lease FAQ

To apply for a novated lease on a Hyundai IONIQ 5 you’ll first need to check if your employer offers novated leasing as a benefit. If they do, you can get a quote for a novated lease from a leasing provider. The provider can often also help you find a car to buy, if you haven’t found one already.

The lease provider will then help you submit your finance application and, if you’re approved (based on a credit score check and other assessments by the lender), they will arrange with your employer for the lease payments to be deducted from your salary.

The residual payment on your Hyundai IONIQ 5 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 Hyundai IONIQ 5 Dynamiq with a 5-year novated lease (purchase price: $75,549) would be $21,246.53 (inclusive of GST) or 28.13% of the purchase price. This is based on the minimum residual value rates set by the ATO.

Remember you’ll need to use after-tax money to make the residual payment on your Hyundai IONIQ 5 novated lease.

The residual on a novated lease is one of the factors to weigh up when deciding if a novated lease is worth is for you. It can come as a shock when the payment is due, but it does mean the regular payments on your Hyundai IONIQ 5 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.

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.

Written by

Shaun McGowan founder

Loans Expert

Shaun McGowan

Reviewed by

Sean Callery Editor


Sean Callery



Level 3, 201 Miller St,
North Sydney, NSW, 2060, Australia

Suite 3, Level 2, 1 Taylor Street,
Moorabbin, VIC, 3189 Australia


Money Pty Ltd trading as Money
ABN: 42 626 094 773
ACL: 528698
AFCA: 83955

© Copyright 2023 Money Pty Ltd.


Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money does not compare every Lender all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product.