Why BYD EVs Are Worth Considering Through Novated Leasing?
BYD (Build Your Dreams) has seen rapid market growth in Australia and is arguably second to Tesla when people think electric vehicles (EVs). BYD entered Australia in September 2022 to a lot of fanfare and quickly carved out a slice of the EV market.
Known for their affordable pricing, cutting-edge technology, and a growing lineup of vehicles like the BYD Atto 3, Dolphin, and Seal, BYD is becoming a serious contender for those looking to make the switch to electric driving.
With competitive pricing and impressive features, many Australians are wondering how they can get behind the wheel of a BYD without the steep upfront costs. This is where a novated lease can be the perfect solution.
Why BYD is Gaining Popularity?
1. Affordable Pricing and Range Options
One of the key reasons for BYD's rising popularity is its competitive pricing. Models like the BYD Atto 3 offer a balance of affordability and performance that is appealing to budget-conscious drivers. Starting at a price point that undercuts many competitors, the Atto 3 delivers up to 420 km of range and comes equipped with a host of tech features.
The BYD Seal, with its sleek design and powerful performance, competes directly with more established models like the Tesla Model 3 but at a more accessible price point. This makes BYD a compelling option for those looking to enter the EV market without the premium price tag typically associated with some other brands.
2. BYD’s Technological Advancements
BYD has made significant strides in battery technology, which is a critical aspect of electric vehicles. The company’s Blade Battery has been praised for its safety, durability, and long lifespan, contributing to the reliability of their EVs.
For drivers considering a BYD, these advancements mean you’re not only investing in a well-priced EV but also in a car that’s built for long-term performance.
Additionally, BYD’s vehicles come equipped with modern features like autonomous driving support and advanced safety systems, ensuring a comfortable and secure driving experience.
How a Novated Lease Makes Driving a BYD More Affordable?
A novated lease offers a way to drive a BYD while maximising your tax savings and reducing the financial burden of ownership. Here’s how it can make driving a BYD even more appealing:
1. Tax Savings Through Pre-Tax Payments
When you lease a BYD through a novated lease, your lease payments are deducted from your pre-tax salary, which effectively lowers your taxable income. This structure means you pay less tax each year while enjoying the benefits of driving a new vehicle.
For example, if you earn $100,000 per year and your novated lease payments amount to $10,000 annually, your taxable income is reduced to $90,000. This can lead to significant savings, particularly for those in higher tax brackets.
2. GST Savings on Purchase and Running Costs
One of the added benefits of novated leasing is the ability to avoid paying GST on the purchase price of the vehicle as well as its running costs like maintenance and insurance. This can result in significant savings on the cost of your BYD.
For instance, if your BYD Atto 3 costs $45,000, you could save around $4,090 in GST off the purchase price by opting for a novated lease instead of a traditional purchase. This makes a novated lease one of the most cost-effective ways to drive a new EV.
3. Bundled Running Costs for Easier Budgeting
A novated lease allows you to bundle all your car-related expenses into one simple pre-tax payment. This includes costs like registration, insurance, maintenance, and even charging expenses. By bundling these costs, you not only make budgeting easier but also ensure that you're paying for these expenses with pre-tax dollars, which further enhances your overall savings.
Why Now Is the Time to Consider a BYD?
The popularity of BYD’s EVs like the Dolphin and Seal is rapidly increasing, as more Australians seek reliable and affordable alternatives in the electric vehicle market. With the Australian government's focus on reducing emissions and expanding EV infrastructure, now is the perfect time to make the switch to electric driving.
By choosing a BYD through a novated lease, you’re not only getting access to a vehicle that’s packed with advanced technology and impressive range but also a financial arrangement that makes owning an EV more affordable than ever.
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Conclusion: Drive a BYD for Less with a Novated Lease
If you’re interested in exploring the world of electric vehicles, a BYD model like the Atto 3, Dolphin, or Seal could be a great fit. With competitive pricing, strong battery performance, and advanced tech, BYD is making waves in the EV market. And with a novated lease, you can enjoy these benefits while maximising your tax savings and managing your vehicle expenses.
Ready to see how much you can save on a BYD? Contact CarBon Novated Leasing today to learn more about how a novated lease can make driving your next EV even more affordable.
