Standard Car Loan vs. Novated Lease Calculator

Discover Your True Take-Home Pay

💸 EV Tax Savings Estimator

Compare a Standard Car Loan vs. Novated Lease and see your actual cash savings.

Standard Car Loan 🚗
EV Novated Lease ⚡
Monthly Money Breakdown (Hover for info)
ⓘ
TAX
This is money paid straight to the ATO. In 'Lease' mode, this shrinks because you pay less tax!
ⓘ
CAR
Loan + Running Costs. In 'Lease' mode, this is paid pre-tax (and GST free).
ⓘ
POCKET
$4,200
Your Take-Home Pay. In 'Lease' mode, this expands because you keep more cash!
Standard Loan Outcome --
Paying with after-tax dollars means less cash for you.
🤖 Ask EV Evolution AI to verify this for your tax bracket

This tool compares two different ways to pay for the exact same car. Here is what the colored bars actually mean for your wallet:

1. The Red Bar (TAX)

  • This is the chunk of your monthly salary that goes straight to the ATO.
  • In "Novated Lease" Mode: The bar shrinks! Because car payments come out before tax, the ATO takes less.

2. The Black Bar (CAR)

  • This covers your car finance PLUS all running costs (electricity, insurance, rego, tyres).
  • In "Novated Lease" Mode: You save 10% GST on the car price immediately.

3. The Green Bar (POCKET)

  • This is your Take-Home Pay. The cash that lands in your bank account.
  • The Goal: You want this bar to be as long as possible.
  • The Result: When you switch to "EV Novated Lease", this bar expands, representing extra cash in your pocket.
Disclaimer: EV Tax Savings Estimator provides general estimates and information only. It does not take into account your personal financial situation or objectives. Please consult a registered tax agent or financial advisor before making any leasing decisions.
Created with ❤️ by Beesoft