Quick answer: The best car to novated lease right now is the Tesla Model Y — it was the most leased car through salary packaging in 2025 and was named the 2026 Novated Lease Car of the Year. But the “best” car depends on what you need: the BYD Sealion 7 is the value pick for families, the Tesla Model 3 suits commuters, and the GWM Ora is the cheapest way into a fully tax-free EV lease. This list ranks eight cars by real leasing data, not by marketing — so you can see the price, the tax position, and who each car actually suits.
If you are new to the idea, a novated lease lets you pay for a car and its running costs out of your pre-tax salary, through a three-way agreement between you, your employer and a finance company. Our full guide explains what a novated lease is and how the tax side works.
How this list was picked
Most “best cars” lists are just opinions. This one is built on what employees actually leased:
- Real leasing volumes: salary packaging provider Remunerator’s top 10 most leased cars of 2025, and the 2026 Novated Lease Car of the Year award, which is decided by actual novated lease volumes reported by members of the industry body NALSPA.
- Tax position: whether the car qualifies for the electric car FBT exemption (more below) or only the standard pre-tax and GST benefits.
- Price: every car here sits under the luxury car tax threshold for fuel-efficient vehicles, so no luxury car tax inflates the lease.
Prices below are indicative driveaway figures quoted by Remunerator in its 2025 leased-cars list, as of October 2026, and vary by state, trim and options. Weekly figures are Remunerator’s estimates based on a $100,000 salary, a 60-month lease, 15,000 km a year and Victorian registration — your own quote will differ.
The FBT rule that decides the ranking
Here is the one rule that matters most. Under the federal Electric Car Discount, an eligible battery electric or hydrogen car that is first used after 1 July 2022 and valued under the luxury car tax threshold for fuel-efficient vehicles — $91,661 in 2026–27, per the ATO’s published thresholds — pays no fringe benefits tax at all. That means 100% of the lease and running costs can come from pre-tax salary, which is where the biggest savings live.
Two catches to know. First, plug-in hybrids lost the exemption for new agreements after 31 March 2025, so a PHEV no longer gets the same deal as a full EV. Second, petrol and diesel cars still benefit from pre-tax payments and a GST saving, but FBT applies — so their net saving is smaller. That is why EVs dominate this list, and why the three non-EVs here rank lower despite their popularity.
1. Tesla Model Y
Best for: families who want the safest all-round EV lease.
Price from around $64,128; weekly lease estimate from $164 plus running costs. The Model Y is the car other novated leases are measured against: it topped Remunerator’s 2025 list and then won the 2026 Novated Lease Car of the Year ahead of the BYD Sealion 7 and Zeekr 7X, on actual lease volumes. Big boot, comfortable ride, strong charging network and over-the-air updates that keep it feeling current. If you only shortlist one car, shortlist this one.
2. BYD Sealion 7
Best for: families who want EV space and tech for less money.
Price from around $58,750; weekly lease estimate from $151 plus running costs. The Sealion 7 was the biggest mover of 2025 and a finalist for the 2026 Novated Lease Car of the Year. It is a roomy electric SUV with plenty of standard tech, a quiet drive and a price that undercuts the Model Y while staying comfortably under the FBT threshold. The value pick of this list.
3. Tesla Model 3
Best for: commuters and city drivers.
Price from around $59,960; weekly lease estimate from $151 plus running costs. The sedan sibling of the Model Y: easy to park, quiet, cheap to service and with instant acceleration that makes the daily drive feel effortless. If you do not need SUV space, the Model 3 gives you the same Tesla charging network and software for less money.
4. BYD Seal
Best for: drivers who want EV performance without premium pricing.
Price from around $50,414; weekly lease estimate from $126 plus running costs — the lowest weekly figure on this list. A sleek electric sedan with strong range options for the price, and full FBT exemption. If your budget is tight but you still want a proper EV, the Seal is hard to beat.
5. GWM Ora
Best for: the cheapest way into an FBT-exempt EV lease.
Manufacturer list price from around $40,990 for the extended-range model. The Ora is the budget entry point: a small, cheerful electric hatchback that keeps the total lease commitment low, which matters if you are early in your career or watching cash flow. Get a personalised quote before deciding — small cars can carry higher insurance per dollar of value, so compare the full bundled payment, not just the car price.
6. Ford Ranger
Best for: tradies, towers and weekend adventurers.
Price from around $71,357; weekly lease estimate from $278 plus running costs. The Ranger is the most leased non-EV on this list and the default dual-cab ute for work and play. Be clear-eyed about the tax side: as a diesel, it does not get the EV FBT exemption, so FBT applies and the weekly figure is higher than the EVs above. You still get pre-tax payments and a GST saving, but the net benefit is smaller — run the numbers before assuming a ute lease matches an EV lease.
7. Toyota RAV4 Hybrid
Best for: low-fuss reliability and strong resale value.
Price from around $46,986; weekly lease estimate from $171 plus running costs. The RAV4 has been a favourite for years for a reason: it sips fuel, holds its value, and needs little thought. As a hybrid it does not qualify for the EV FBT exemption, so like the Ranger it sits below the EVs on pure tax saving — but for drivers who are not ready to go fully electric, it is the sensible middle ground.
8. Ford Everest
Best for: big families who need seven seats and towing ability.
Price from around $65,200; weekly lease estimate from $251 plus running costs. The Everest is the family wagon of this list: high seating, room for everyone plus gear, and genuine off-road and towing capability for camping and road trips. Again, FBT applies because it is not an EV — but if you need seven seats, no EV on this list does the job, and the pre-tax and GST benefits still help.
At a glance
| Car | Price from | FBT-exempt EV? | Best for |
|---|---|---|---|
| Tesla Model Y | $64,128 | Yes | All-round family EV |
| BYD Sealion 7 | $58,750 | Yes | Value family EV SUV |
| Tesla Model 3 | $59,960 | Yes | Commuters, city driving |
| BYD Seal | $50,414 | Yes | Value EV sedan |
| GWM Ora | $40,990 | Yes | Cheapest EV lease |
| Ford Ranger | $71,357 | No | Tradies, towing |
| Toyota RAV4 Hybrid | $46,986 | No | Reliability, resale |
| Ford Everest | $65,200 | No | Seven seats, touring |
Before you sign: five checks
- Confirm the FBT position in writing. Ask the provider to confirm the car is eligible for the EV exemption and what happens if the rules change mid-lease.
- Compare the full bundled payment, not the car price. Insurance, servicing, tyres, rego and charging all sit inside the payment — a cheap car with dear insurance can cost more overall.
- Check the residual value. The balloon payment at the end of the lease affects both your weekly figure and what happens when you hand the car back. Our comparison of novated lease vs car loan explains the trade-offs.
- Match the term and kilometres to reality. A 60-month lease at 15,000 km a year only works if that matches your driving; excess kilometre charges add up.
- Compare providers, not just cars. Fees, service and EV support differ a lot — see our list of the best novated lease providers worth comparing before you commit.
And if you are still deciding whether salary packaging a car makes sense at all, read is a novated lease worth it for the honest answer, including the cases where it is not.
Frequently asked questions
Is an EV always cheaper on a novated lease than a petrol car?
Not always, but usually the gap is large. The EV FBT exemption removes a cost that petrol and diesel cars still carry, and EVs cost less to run. The exception is when the EV itself is much dearer than the petrol car you would otherwise buy — compare the full bundled payment, not just the tax treatment.
Can I novated lease a used car from this list?
Yes, subject to the provider’s age and value rules — and for the EV exemption, a second-hand EV must have been first registered after 1 July 2022. A used Model 3 or Atto 3 can be a smart way to cut the lease payment further.
What happens to the lease if I change jobs?
The lease can usually transfer to your new employer if they offer salary packaging, or you can keep paying it privately. Check the transfer terms before signing, because this is the most common surprise in novated leasing.
Do prices on this list stay current?
No — manufacturers adjust prices and run offers regularly. Treat the figures here as a snapshot from October 2026 and get a fresh quote for the exact trim you want. This list is refreshed as prices and the FBT rules change.
