If your employer has never done a novated lease before, they may have questions on how it all works, how it impacts them, and how to set it up correctly. The good news is there is no cost or liability that falls onto your employer. Our dedicated novated lease team is always here to assist your employer or you directly to explain the finer details.

In some cases, your employment contract specifies that you have to use their novated lease supplier, or they might be locked up in an exclusive agreement. But if not, you should have the choice to source a more competitive option for your novated lease via LeaseMyTesla.

If your new employer offers novated leasing or is willing to offer it, you will be able to transfer the lease across without paying out your loan or refinancing, and with all the same benefits.

No, All Driva customers using their car for personal use are set up under the employee contribution method. The FBT liability simply doesn’t exist for electric vehicles due to a government incentive (for the 2024-2025 financial year, as long as the vehicle is under the luxury car tax threshold of $91,837 including GST). FBT exemption eligibility criteria apply and are subject to change. Customers should confirm their eligibility prior to purchasing any vehicle and seek independent professional advice.

At Driva, we use a budget model that takes into account the vehicle type, servicing requirements, annual kilometres, historical data, and several other factors. We typically apply this estimated budget to your lease package or, if you prefer, we can incorporate your actual running costs at your discretion. Our goal is to ensure the correct budgets are set from the start, tailored to your specific needs. However, if adjustments are needed, it’s no problem—we can update the budget at any time during the lease.

You have several options at the end of your novated lease:

• Upgrade to a new Tesla: When your lease ends, consider upgrading to the latest Tesla model. We'll assist you in trading in your current vehicle, ensuring you receive a seamless trade-in experience.
• Sell Your Car Privately: If you prefer to manage the sale yourself, selling your car privately can yield a higher return. This option might be suitable if you're not in a hurry and are looking for the best possible price, though it requires more effort on your part.
• Refinance Your Tesla: If you’ve grown attached to your Tesla and aren’t ready to part with it, you can choose to refinance. This extends your lease term based on the reduced residual value while keeping your running costs consistent based on your annual mileage. Refinancing is perfect if you want to keep enjoying your Tesla for a few more years before making a new vehicle decision.
• Purchase Your Tesla: Alternatively, you can buy your Tesla outright by paying the residual value to the financier at the end of your lease. Opting for this means you’ll own your car completely, although you will lose the tax benefits associated with novated leasing. This option is ideal if you are ending your employment or wish to hold on to your Tesla without further lease obligations.