Hyundai and Oly go together like road trips and playlists: perfectly in sync!
Hold on to your steering wheel because Oly has some seriously good news for Hyundai lovers across the nation. Oly and Hyundai have teamed up to bring novated leasing to hundreds of Hyundai dealerships across Australia - whoop!
2:45 minute read
Hyundai + Oly = serious savings opportunities
Now, you can snap up a shiny new Hyundai, skip the upfront GST, and maybe even save thousands on tax with an Oly novated lease. For the uninitiated, a novated lease is an ATO-approved way for you to pay a portion of your car expenses using before-tax salary. This means your taxable income could drop, and you could have more money in your pocket each year – cha-ching! Plus, it’s not just the car included; all the essentials like rego, insurance, and servicing get rolled into one nifty regular payment taken directly from your salary each pay cycle.
The big deal with Oly
Traditionally, novated leases were a bit of an exclusive club - available to big business employees or government staffers. But Oly has blown the doors wide open, letting employees from small and medium-sized businesses tap into the perks too.
Oly’s easy digital platform and app make the whole leasing process (from sign-up and delivery to managing your account) a DIY breeze, so you can hit the road smiling.
For the eco-warriors
The savings get even better if you lease from Hyundai’s electric range - IONIQ 5, IONIQ 6, or KONA Electric. Thanks to the Federal Government’s EV Discount, novated lease payments (including running costs) for eligible electric cars can be made entirely from your before-tax salary, making a novated lease on an EV a no-brainer.
EV + Oly = EV-peasy
Say you have your heart set on a Hyundai IONIQ 6. With an Oly novated lease, you could save up to $37,011^ over a five-year lease term. That could fund a second EV!
The team are pumped
The Oly team are super excited to help you get into the Hyundai of your dreams with a novated lease.
Here’s what Oly’s CEO, Kylie Chambers, has to say -
“We’re excited to partner with Hyundai to offer their customers an innovative new way to get into their dream car that also saves them money.
An Oly novated lease could be a great alternative to a car loan, particularly during cost-of-living pressures. There are no upfront costs, and a portion of the payments come out of your pay pre-tax, which reduces your taxable income. Having access to more of your salary can make a meaningful difference.
For anyone looking to get into an electric Hyundai, a novated lease is a no-brainer, with the government's electric car discount policy potentially saving you tens of thousands of dollars."
With around 67% of Australia’s workforce employed by SMEs, we look forward to working with Hyundai to help provide them with car financing that is straightforward and hassle free.”
And the COO of Hyundai Motor Company is also pretty rapt -
“Hyundai is renowned for innovation in its cars, and the Hyundai Mobility Team’s partnership with Oly provides Australians with an equally innovative way to get a Hyundai. Oly’s new digital novated lease platform opens the door to significant savings for thousands of Australians, and we are proud to partner with such a forward-looking, industry-leading organisation in delivering real benefits to Hyundai buyers.”
Ready to roll?
If you want to rev up your tax savings and get a great deal on a Hyundai, the Oly team are on hand to help now. Let’s get you started!
^ Things you need to know
^ Displayed price is only available through a novated lease administered by Oly. Estimated costs have been determined based on the following assumptions:
1) The example assumes that the EV is an eligible zero or low emissions vehicle,
2) The lease is an Oly fully maintained lease,
3) A 5-year lease term,
4) A residual value of 28.13% of the vehicle purchase price payable at the end of term,
5) Gross annual salary of $90,000,
6) An annual distance travelled of 15,000kms,
7) The value of the EV at the first retail sale was below the luxury car tax threshold of $91,387 for fuel efficient vehicles,
8) The EV is first held and used on or after 1 July 2022, and
9) Both vehicles are purchased in NSW. Additionally, the estimated annual operating costs includes estimates of fuel/electricity, maintenance, four replacement tyres, registration, CTP and comprehensive insurance, roadside assistance, and fleet management fee have been calculated on a GST exclusive basis, on the assumption that your employer will be entitled to GST input tax credits and that they will pass on the benefit to you. GST is payable on your ECM contributions. State Stamp Duty rates apply. PAYG tax rates effective 1 July 2024 have been used. The indicative price quoted for the novated lease is based on vehicle quotations received on 1 June 2024 and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. The novated lease offer is based on the assumptions outlined above and is an indicative cost approximation of the selected vehicle and model stated and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between the costs of a novated lease with an EV and the costs of a novated lease with a petrol car. Actual savings will depend on your personal circumstances and may vary depending on the vehicle model and price. Oly recommends that you seek independent financial and taxation advice.
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