A flexible, tax effective way to salary package an EV!
- Corporate businesses can register and unlock staff benefits for FREE
- Removes the financial and contractual burden of traditional leasing models
- Staff can save on GST and potentially obtain tax benefits by salary sacrificing
- Free access to customised communications and imagery
How does a novated EV subscription work?
Unlocking this unique employee benefit is easy. Here’s how it works.
01.
Register your business
02.
Staff sign up via Corporate / Employee Benefits
03.
HR approves order and payment is made via Payroll
04.
Staff enjoy all the perks from carbar
Why choose salary sacrifice for a car subscription?
A traditional novated lease allows you to finance a car while reducing your taxable income using a salary sacrifice scheme with your employer. However, generally if you lose or change jobs, you must continue either making repayments to the finance company or terminate the lease agreement altogether. You’ll need to pay any early exit fees that may be charged, plus the residual value of the vehicle.
A novated car subscription provides the same benefits as a novated lease in terms of salary packaging and tax deductions with the flexibility of being able to end the subscription with just two weeks’ notice. You can choose to continue your subscription and there are no exit fees or hidden charges.
Convenient, all-inclusive price
Enjoy complete peace of mind with all key operating and running costs wrapped up into a simple weekly payment. Tolls and infringements excluded.
Flexible - no lock-in contracts
If you need to go overseas for a promotion or a bigger car for a growing family, carbar only needs 2 weeks notice to change or end your subscription.
Simple, hassle-free
We offer a personalised service that is simple and straightforward, a theme that will continue throughout the subscription.
Staff save money
As subscription and fuel costs are typically passed back to the employer to pay this expense via payroll, subscribers pay less through a novated subscription service.
Potential tax benefits
Instead of paying with money you have left over after tax, your subscription is paid with funds from a combination of your pre and post-tax salary.
Potential FBT exemption
There could be further savings for eligible cars that are zero or low emissions vehicles that are exempt from Fringe Benefits Tax (FBT) and first held and used after 1 July 2022*
Get into an electric vehicle now with carbar's novated subscription
See the latest range of EV’s we have available to order, from a mini hatch or compact SUV to full size SUV. We also have the ability to source other makes and models for you, simply enquire now.
2023 Tesla Model 3 Standard Range
Subscription price
$475
plus $2,750 upfront fee
Novated price
Year 1 - Price $293
Year 2 - Price $263
2023 Tesla Model Y Standard Range
Subscription price
$527
plus $3,083 upfront fee
Novated price
Year 1 - Price $325
Year 2 - Price $292
2023 BYD Atto 3 Extended Range
Subscription price
$451
plus $2,460 upfront fee
Novated price
Year 1 - Price $276
Year 2 - Price $250
2023 Kia EV6 Air
Subscription price
$572
plus $3,363 upfront fee
Novated price
Year 1 - Price $353
Year 2 - Price $317
2023 MG ZS
Subscription price
$433
plus $2,353 upfront fee
Novated price
Year 1 - Price $265
Year 2 - Price $240
2023 Hyundai Ioniq 6
Subscription price
$578
plus $3,405 upfront fee
Novated price
Year 1 - Price $357
Year 2 - Price $321
* Vehicle calculations are examples only and based on a tax rate of 39% (37% tax 2% Medicare levy), exact prices will vary based on individual income and circumstances. For further information on pricing enquire now and one of our team of specialists will be in touch
* Upfront fee for novated is amortised over the first year of subscription
Frequently asked questions
novated car subscription
A novated subscription is an arrangement between you, your employer and a car subscription company, whereby your employer agrees to pay for your car subscription out of your salary (also known as salary packaging).
This can be a great way to get a new car without having to worry about the financial side of things, as everything is taken care of through your salary. It will give you the chance to have all of the perks of traditional car ownership without the price tag included.
If you need or want convenience and flexibility, it is definitely worth considering newer alternatives to the traditional novated leasing options.
A novated subscription is a type of car subscription where you effectively lease a fully maintained car through your employer. The benefits of this arrangement are that your employer can sacrifice a portion of your salary (pre- and post-tax) to cover the cost of the car subscription.
Because it is being run through a business, you immediately save on GST and depending on your circumstances, could save through pre- and post-tax contributions. This effectively gives you all the benefits of a fully maintained car while potentially reducing the amount of tax you pay. There could be further savings for eligible cars that are zero or low emissions vehicles that are exempt from Fringe Benefits Tax (FBT) and first held and used after 1 July 2022*
There are a lot of different options out there when it comes to car ownership, and more and more people are opting for car subscriptions instead of traditional methods like financing, novated leasing or buying.
So, what exactly is a novated car subscription?
Put simply, a novated car subscription is basically a salary sacrifice arrangement where you get your employer to cover the cost of your car. Rather than pay for your car with post tax income, you pay through payroll with a combination of pre- and post-tax salary. This way you can reduce the amount of taxable income you will pay and could save money on tax.
Because car subscription rolls all costs of car ownership into a simple weekly payment, you could save money (GST and tax-savings) across car, registration, insurance, maintenance and servicing costs.
There’s no need to feel overwhelmed when researching how to apply for a novated car subscription. The process is actually quite simple and can be easily completed in just a few steps.
First, you will need to talk to your employer as they will need to sign an agreement with carbar to offer this benefit through payroll. Once the employer agreements are signed, you will need to register your interest using the form below. We'll then help you find the make and model of car that you’re interested in, share the calculations for your weekly pricing and if you're happy, submit your order.
If your employer approves the order, we’ll work to secure the car and organise for it to be picked up or delivered to you. Payroll will pay your subscription and you get some new wheels. It’s that easy.
When it comes to a carbar car subscription, you can stop or swap with just 2 weeks notice.
At the end of a novated EV subscription, it is important to finalise your arrangement with your employer also. Your novated car subscription is pretty straightforward and easy - once you wish to stop, you can simply end the subscription after two weeks and hand over the keys.
Many people choose to extend their subscriptions, but most importantly, when you end your novated car subscription, you won't be left with a huge bill or anything like that.
It’s just an easy way to keep driving a car without having to worry about ownership.
Register your business
You can be confident in knowing we’re proudly backed by Insurance Australia Group
IAG is the name behind some of the most trusted and respected insurance brands in the regions in which it operates. Its businesses have helped people recover from natural disasters, accidents and loss since 1851.
IAG’s businesses underwrite over $11billion of premium per annum, selling insurance under many leading brands including NRMA Insurance, CGU, SGIO, SGIC, Swann Insurance and WFI (Australia); and NZI, State, AMI and Lumley Insurance (New Zealand).
Standard & Poor’s has assigned a ‘Very Strong’ Insurer Financial Strength Rating of ‘AA-‘ to the Group’s core operating subsidiaries.
