Mitsubishi Outlander Novated Lease Pricing (Save $1000's)

Save thousands annually by novated leasing your Mitsubishi Outlander
Benefit from massive extra tax savings on eligible Outlander PHEVs

Massive GST discount on the initial purchase price

Include car running costs in your lease for extra savings

Pay using pre-tax salary (saving you $1000s)

Pay $0 fringe benefits tax on eligible PHEV models

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

In our Mitsubishi Outlander novated lease guide:

Written byShaun McGowanReviewed bySean Callery

Last updated3 November 2023

Mitsubishi's Outlander has always been an extremely popular car in Australia, successfully staggering the line between family car and rugged off-roader. Refreshed styling on the latest models will only increase the appeal.

And now with the introduction of the Outlander PHEV (plus the Eclipse Cross PHEV), Mitsubishi is offering drivers an option to upgrade to an electric vehicle, while retaining the reassurance of having a petrol 'fallback'. It's likely to appeal to those not quite ready to commit fully to an EV.

Importantly, the Mitsubishi Outlander PHEV is eligible for the massive tax incentive available on an electric car novated lease. You see, until 2025 the fringe benefits tax exemption extends to plug-in hybrid electric vehicles (PHEVs), including the Outlander, as well as all-electric vehicles.

This incentive makes a novated lease on a Mitsubishi Outlander PHEV an extremely economical prospect relative to other Mitsubishi finance options.

Vehicle	Estimated drive-away price	Up-front GST saving	Weekly novated lease cost	Total tax saving during lease
Mitsubishi Outlander (PHEV ES 5-seat)	$63,560	$5,485	$208.81	$37,175
Mitsubishi Outlander (PHEV Aspire 5-seat)	$68,260	$6,105	$219.83	$39,177

Important: Vehicle price estimates as at July 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.

With a novated lease, you'll be able to pay for your Mitisubishi Outlander plus virtually all of your running expenses using your pre-tax salary.

This means paying less in income tax.

This arrangement is sometimes referred to as salary sacrificing a car. Essentially you forego some of your take-home pay and use it to pay for your car instead, while saving money in tax overall.

You also get a GST discount on the car's purchase price and packaged running costs. The process is managed by a novated lease company who will help you find a Mitsubishi Outlander to buy and arrange for the salary deductions to be made by your employer.

Your Mitsubishi Outlander novated lease can include most running costs. This boosts the tax savings, as you pay for them from pre-tax salary and enjoy a GST discount on packaged costs:

Charging/fuel
Registration and CTP
Comprehensive car insurance
Servicing
Tyres
Car washes

Please note that certain related costs can’t be included. For instance, the cost of installing a home battery or fast charger if you opt for the Mitsubishi Outlander PHEV.

Based on current estimated pricing from Mitsubishi, the following variants will be eligible for the novated lease fringe benefits tax exemption on low- and zero-emission vehicles in FY 2023/24.

This is because the pricing comes in under Australia's luxury car tax threshold.

Mitsubishi Outlander Plug-in Hybrid EV AWD ES (5 seats)
Mitsubishi Outlander Plug-in Hybrid EV AWD Aspire (5 seats)
Mitsubishi Outlander Plug-in Hybrid EV AWD Exceed (7 seats)
Mitsubishi Outlander Plug-in Hybrid EV AWD Exceed Tourer (7 seats)

If you're eligible, the FBT exemption makes a novated lease on a Mitsubishi Outlander considerably cheaper than a car loan, or even buying the car with cash.

mitsubishi outlander novated lease residual payment

When the novated lease term on your Mitsubishi Outlander ends (usually after 5 years), you will have three main options:

Make the residual payment on the lease to own the car outright.
Renew the lease to a new term with the same vehicle (you are essentially refinancing the residual amount).
Trade in your Outlander and use the sale funds to pay off the residual on the lease (any funds leftover are yours to keep as tax-free profit).

The novated lease company you work with will help facilitate the next steps, whichever option you choose.

Get a quick novated lease quote

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

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How much will the residual payment on my Mitsubishi Outlander novated lease be?

The residual payment on your Mitsubishi Outlander novated lease will be a percentage of the the purchase price of the vehicle. The exact percentage will depend on the duration of your lease (between 1-5 years).

The longer the lease the lower the residual amount.

As an example, the residual payment on a Mitsubishi Outlander PHEV ES (estimated purchase price: $61,440) with a 5-year novated lease would be around $17,283 (inclusive of GST) or 28.13% of the purchase price. This is based on the minimum residual value rates set by the ATO.

This is just an example estimate. Be sure to get a personalised novated lease quote based on your situation and the exact vehicle you have your eye on.

Will my credit score impact my Mitsubishi Outlander novated lease?

Compared to a car loan, your credit score generally does not have as much of an impact on your ability to get a novated lease. This is because the arrangement is made through your employer who will make the payments on your Mitsubishi Outlander to the lease company on your behalf.

But the finance provider will likely still do a credit score check when assessing your application for a novated lease. Your credit score could impact the interest rate on the finance.

If you have a low credit score, you can read more about the process of applying for a bad credit novated lease.

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.