Our biggest movers in small business novated leasing
Exciting new arrivals. Familiar favourites getting a refresh. Electric vehicles (EVs) pulling ahead of petrol-powered cars for the first time.
The Australian novated leasing market is more exciting than ever in 2024, and it doesn’t look like hitting the brakes any time soon.
What’s new in novated leasing?
If you're looking to attract, reward, and retain top-quality employees, offering a novated lease as part of your staff benefits package is a game-changer. It’s a powerful way to help your team access the car of their dreams while enjoying significant tax savings.
With the cost of popular EVs coming down, combined with our competitive pricing and government tax incentives, now is the perfect time to introduce novated leasing as a valuable perk for your staff. It’s an investment in your workforce that drives satisfaction and loyalty. And with the price of popular EVs coming down – plus our exceptional pricing and government tax incentives – there’s never been a better time to consider a novated lease for your staff.
EVs on the rise
Electric vehicles are becoming more popular due to government incentives, such as Fringe Benefits Tax (FBT) exemptions, making them more affordable. Models like the Tesla Model Y now fall under the luxury car tax threshold, making them even more attractive for leasing.
More choices, lower prices
With new entrants like BYD and GWM, the Australian EV market is more competitive than ever. This competition drives prices down and offers more options, making it an ideal time to consider an EV for your novated lease.
Revamped classics
Popular models like the Ford Ranger and Toyota Land Cruiser Prado are back with modern updates, offering better technology, improved performance, and enhanced safety features. These vehicles remain top choices for anyone looking for reliability and ruggedness.
Let’s dive into the top 10 novated lease vehicles of 2024
Top 10 Novated Lease Vehicles for 2024
Our list of the most popular novated lease vehicles for 2024 caters to a variety of needs and budgets – with a special nod to some great small business novated lease options!
10. Toyota Land Cruiser Prado
The Toyota Land Cruiser Prado has long been a favourite for its off-road prowess and durability. The 2024 model brings a modern design, updated technology, and even better performance.
So, you might be surprised to see the trusty Land Cruiser languishing in 10th place. Make no mistake; it’s still a popular novated lease vehicle for small businesses that need reliability in tough conditions.
But there’s no denying that the rising popularity of EVs is changing everything.
9. Subaru Outback
Rugged. Reliable. Really practical. Thanks to its all-wheel drive and sleek wagon silhouette, the Subaru Outback is a long-time favourite in regional and metro areas.
The 2024 Outback was refreshed with an even more comfortable interior, improved technology and enhanced off-road capability, ensuring it remained a contender in the novated lease market.
8. BYD Atto 3
The Chinese automaker BYD (Build Your Dreams) is a relatively new entrant in the Australian market. Its flagship Atto 3 is an affordable EV option with a decent range and modern features.
Whether it can eclipse Tesla’s popularity remains to be seen. But the price point is attractive and the performance is impressive, so we’re not surprised that the BYD Atto 3 is popular with small businesses looking for a value-packed EV on a novated lease.
7. Mitsubishi Outlander
The Mitsubishi Outlander is a versatile all-rounder. Its spacious interior, compact frame, advanced safety features and impressive fuel efficiency make it a reliable workhorse whether you’re in the city or regional areas.
The 2024 range includes a popular plug-in hybrid (PHEV), making it a smart choice for businesses looking to reduce their environmental footprint.
6. GWM Haval
Another relative newcomer to Australia, the GWM (Great Wall Motor) Haval, has gained attention for its affordability and feature-rich offerings.
Our statistics show the GWM Haval and Mitsubishi Outlander neck-and-neck in novated lease numbers. Could the low-cost alternative pull ahead? Only time will tell. But for now the Haval remains a real contender in the top 10 thanks to a competitive price point without compromising technology or comfort.
5. Hyundai Tucson
The Hyundai Tucson is a consistently comfortable, practical and stylish SUV. The 2024 model offers a refined interior and advanced safety features, plus some performance upgrades under the hood.
All together, the Tucson is a stylish and well-equipped package that’s particularly popular with families. If you’re looking for a novated car lease for a small business and a growing family, the Tucson is a good choice.
4. Isuzu D-Max
Isuzu’s flagship D-Max is a tough workhorse. The updated 2024 model is a premium off-road-ready ute combining rugged durability with advanced technology, comfort and safety features.
When you partner with Fleetcare to get an Isuzu D-MAX X-Terrain on a novated lease, you could save over $24,000 over the life of the lease – with metallic paint included.
See how much you could save using our free novated lease calculator.
3. Ford Ranger
We’ve tallied the numbers and it’s clear: the Ford Ranger is a runaway preference for the most popular novated lease ute in 2024.
While the Ranger and D-Max are comparable on many points, Ford pulls ahead thanks to its punchier engine and slightly lower price. When it comes to small business novated leasing, the Ranger’s comfy cabin makes it especially popular in construction, mining and agriculture.
2. Tesla Model 3
The OG of affordable luxury EVs, the Tesla Model 3 remains popular in Australia. It could be the performance, range, and sleek design. Or the advanced autopilot features. Or the fact that the latest 2024 models are the cheapest to date.
Or – and this is our guess – it’s a combination of all those things that make the Tesla Model 3 a firm favourite in novated leasing.
1. Tesla Model Y
The Tesla Model Y dethroned its smaller sibling to claim the title of Australia’s top-selling EV last year, and sales haven’t hit the brakes. It probably helps that the 2024 models were $5,000 cheaper than 2023. In fact, all 2024 Model Y variants – including the top-range Performance – are now under the Luxury Car Tax threshold, making them eligible for FBT exemptions.
With a driving range of 500-plus kilometres and impressive performance specs, it’s no wonder the Model Y is our most popular novated lease car for small businesses employees and entrepreneurs alike.
Special Mention: Polestar 2 Long Range
The highly anticipated Polestar 2 Long Range deserves a special mention for its best-in-class capacity. Polestar says the new single-motor Long Range model has an impressive 659km range in peak conditions.
Polestar is still a fledgling brand in Australia. But if it’s really capable of covering the distance between Sydney and Canberra and back on a single charge, the Polestar 2 Long Range could soon become one of the best small business novated lease vehicles.
Drive your dream with Fleetcare small business novated leasing
With a Fleetcare novated lease, you have the flexibility to choose any new or used car. Tell us what you’re after, and we could save you thousands with a small business novated lease solution to fit your needs and budget.
Browse our showroom to see our current offers or contact us to arrange your dream vehicle at an even dreamier price.