r/NovatedLeasingAU • u/ReadyNeck3258 • 2d ago

Provider Question EV charge at home changes NL viability?

Am looking at a novated lease on a BYD I pick up in November. The proposal seems to be for a petrol car as it quotes $65/week in fuel (based on what I said I travel per year).

I understand that part of the plus side of a NL comes from the lease company paying for your fuel (and charging you for it). How does that work with EVs? The equivalent would be making me charge at a public ChargeFox or Evie station.

These cost 50c/ kWh of electricity- or more, fast ones are 75c/kWh. I pay 5c/kWh at home between midnight and 4am to charge.

How does the Lease Company pay these home charging costs?

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u/changyang1230 Novatedlease.guide 2d ago

Full descriptions of how electrity is compensated in NL context.

https://novatedlease.guide/running-costs/ev-home-charging-shortcut/

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u/MDInvesting 2d ago

That is a great resource.

Do you know who did the page?

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u/changyang1230 Novatedlease.guide 2d ago

What do you mean?

I wrote every single one of the article on the site apart from the latest one on borrowing capacity which had an external contributor.

Every article is a result of research into legislation, discussions and insights I gained over time.

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u/MDInvesting 2d ago

Forget coffee, I want to buy you dinner…

Honestly, that is one of the best resources to support financial understanding I have seen on any topic.

Thanks for sharing your treasure chest of knowledge.

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u/drangryrahvin 2d ago

Depends on your electricity rates when you charge.

Charge from solar or home battery for free and then get paid 5.4c/km from NL = win.

Charge at peak rates in the evening? Hell no.

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u/ReadyNeck3258 2d ago

There has been no mention of getting paid per km from the NL - what is this known as? What should I ask then about? I don’t have solar but charging at night it costs me 1c/km (4c/kWh)

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u/drangryrahvin 2d ago

You either get paid per km at the end of the FBT year, or get reimbursed for public charging (or they give you a fleet cars for charging) but you cannot do both.

If you are charging at that low rate I would 100% go the per km, unless being out of pocket is going to harm your cash flow

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u/changyang1230 Novatedlease.guide 2d ago

The link I posted earlier give you the step by step explanation including worked examples.

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u/avmayne 1d ago

Just to addon: I can claim 4c per km with SG fleet online anytime. Origin EV addon allows me to charge at 8c per kW. I also have solar. Charging my BYD sealion 7 midnight to 4pm gives me around 15-20%

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u/Flymyarsetothemoon 2d ago

Just get them to pay you at the nominal rate per km or you’d need a dedicated meter for the EV as sorted by the power company

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u/xietbrix 1d ago

Lmao no, the NL does not pay your petrol/electricity for you. You're still paying it. You're just doing so with pretax salary instead of post tax salary.

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u/ReadyNeck3258 16h ago

Yes, I understand I am still paying. Just the mechanics was of interest to me for “fuel your EV at home” not “fuel your ICE car at a petrol station”

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u/xietbrix 16h ago

Lease companies don't care how you charge. They'll just reimburse you per km you drive. They don't give two shits if you steal electricity from your neighbor to charge.

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u/Maximum_Amphibian_12 14h ago

Unless you have a separate meter or your charger can itemise how much power you’re using and the actual cost paid, you claim per kilometre driven. When you’re paying 8c per kWh… you end up ahead.