Hyundai Australia has partnered with Oly to offer novated leasing to buyers when purchasing a new vehicle from one of more than 100 participating dealerships nationwide.
A novated lease is an Australian Tax Office (ATO) approved arrangement that allows an employee to pay part of a vehicle’s lease payments using their pre-tax dollars, lowering their taxable income and potentially offering savings over the life of the lease.
The vehicle’s running costs, including items such as registration, insurance, and servicing, can also be paid using this arrangement.
Traditionally, novated leases have only been available to employees of corporations, governments, or large institutions, due to the complex administration involved.
Oly has revolutionised that process by creating a technology platform, enabling an integrated and streamlined digital experience that allows employees of small and medium enterprises to access and manage the benefits of a novated lease.
Hyundai EVs – including the Ioniq 5, Ioniq 6 and Kona Electric ranges – offer even more savings thanks to the Federal Government’s EV discount.
This allows lease payments for an eligible EV to be drawn entirely from a pre-tax salary. For example, a customer leasing a Hyundai Ioniq 6 Epiq MY23 with an Oly novated lease can expect to save $49,271 during a five-year lease term.
All Hyundai novated lease EVs also qualify for a free four-year/60,000km scheduled service plan, along with a customer’s choice between either a free home EV wall box charger valued at $1480 or a free $1500 Evie network charging voucher.
“An Oly novated lease could be a great option, particularly during cost-of-living pressures,” says Oly chief executive Kylie Chambers.
“A portion of the payments come out of your pay pre-tax, which reduces your taxable income. Having access to more of your salary can make a meaningful difference.
“For anyone looking to get into an electric Hyundai, a novated lease is a no-brainer, with the government’s electric car discount policy potentially saving you tens of thousands of dollars.”
Hyundai Motor Company Australia chief operating officer John Kett says the Hyundai Mobility Team’s partnership with Oly provides Australians with an equally innovative way to get into a Hyundai.
“Oly’s new digital novated lease platform opens the door to significant savings for thousands of Australians, and we are proud to partner with such a forward-looking, industry-leading organisation in delivering real benefits to Hyundai buyers.”
Click here or contact the nearest Hyundai dealer for more information.
