Did you know that during the 20th century electric and hybrid cars actually outnumbered petrol-powered vehicles? In fact, in 1900 it was electric vehicles that accounted for a third of all cars on the road in the USA, and it was only when the Ford Model T came along that a significant blow was dealt to the electric car in terms of cost and capabilities at that time.

It’s safe to say that things have now swung back greatly in the opposite direction and the electric vehicle or ‘EV’ is back. Concerns about the environment have never been more important to people and the cost of manufacturing EVs has reduced with jumps in innovation from the likes of Mazda, Toyota, Nissan and Tesla.

At Maxxia, we’ve been offering electric and hybrid vehicles on novated leases for some time, with two early examples being the Toyota Prius and the Mitsubishi Outlander PHEV.

Today, there is an ever-growing number of Maxxia customers leasing electric and hybrid vehicles – and this number has doubled year-on-year for the last two years in a row!

Common electric vehicle questions:

Is my novated lease any different with an electric vehicle?

Yes… and no. A novated lease with an electric vehicle really only differs in the same ways that these cars differ from their petrol counterparts. The main one for pure EVs of course is fuel; you won’t have a fuel card for petrol, but you are able to claim the cost of charging up at a station.

If you have a charging station at home you can claim the cost of this electricity as well; the charging station will need to be installed on its own smart meter to enable this usage to be claimed accurately. Any costs associated with having access or being connected to the electricity however are not able to be claimed, and this also includes installation of the charging station itself. It’s important to note that you cannot package the costs of a third-party charger that you purchase in addition to the vehicle itself.

Are my running costs the same as any other lease?

Fuel aside, electric vehicles still require registration, maintenance and tyres. It is worth noting that with electric and hybrid vehicles, scheduled servicing and parts can be more costly in comparison to petrol vehicles, but it all depends on the make and model.

Are there plenty of charge stations?

The amount of charging stations has exploded over recent years and there are plenty of online resources that map out where each one is, such as: www.plugshare.com (just search for Australia to browse our country’s network of stations).

What sort of vehicles can I choose from?

There’s a huge range of electric and hybrid vehicles available to novated lease with Maxxia, for all budgets and lifestyles. Here are some examples:

• Toyota – Rav4
• Lexus – CT 200h Hybrid
• Mitsubishi – Outlander
• Honda – CIVIC
• Tesla – Model 3
• Nissan – LEAF
• Subaru – Forester
• Hyundai – KONA
• Mercedes Benz – C200

What is the difference between electric vehicles and plug-in hybrids?

EVs are solely electric vehicles, meaning you plug them into a charger, and they use only available battery power to drive. Plug-in-hybrid vehicles – or PHEVs – have petrol motor and electric motor components; once the available battery power is used up, they switch to the motor.

Confidence and convenience with a conscience

Novated leasing is all about the convenience of having all your budgeting and running costs taken care of by Maxxia, while also enjoying the potential tax savings that come with utilising your employee benefit. As electric vehicles become more and more popular it’s nice to know that your novated lease could also benefit the environment as well as your hip pocket!

Want to chat about novated leasing?  Get in touch with us online or call us on 1300 123 123 and we’ll take you through your options.