High Fuel Prices? Go Electric with Maxxia Novated Leasing

With fuel prices on the rise, Australian drivers are increasingly turning to electric vehicles to help alleviate cost-of-living pressures.

Recent data shows that Australians spend on average close to $90 per week on fuel* – or more than $4,500 annually.

To charge an electric vehicle covering 12,000 kilometres a year this number drops markedly, to around $500 ** (or $10 per week).

That’s a saving to the annual household budget of around $4,000 – and it’s a gap that looks set to grow.

Driving vehicle affordability

EVs have quietly but decisively become a sustainable choice for Australians – environmentally and financially – and just for those on higher incomes.

A recent survey by Maxxia of over 1,200 workers reveals that middle-income earners ($40,000 to $79,000) are seeing real financial relief, reshaping the conversation around EV affordability.

“For years, EVs were seen as something only the wealthy could afford. But what we’re seeing now is a shift in who’s buying them, and why,” Maxxia CEO Antonia Albanese says. “It’s people who aren’t chasing status or making an environmental statement, but who simply want to make their budgets go further.”

Sixty percent of EV drivers surveyed reported lower transport costs after switching from petrol or diesel. These numbers are backed up by the Electric Vehicle Council’s second EV Ownership survey, which reveals that more than 70% of drivers report fuel savings of over 60% compared with their previous petrol car, while 73% spend less than $300 a year on maintenance.

EV drivers also report feeling less affected by broader cost-of-living pressures, thanks to predictable monthly expenses and freedom from fuel-price volatility.

The EV Discount

Then there’s the Federal Government’s Electric Car (EV) Discount, which has helped bring vehicle costs down through the exemption of Fringe Benefits Tax on eligible EVs (up to the Luxury Car Tax threshold of $91,387).

With many drivers able to fully pay for EVs with pre-tax dollars, payments on some EVs are now similar to petrol-powered vehicles worth thousands less.

^{Disclaimer: Both based on annual $90,000 salary, an annual distance travelled of 15,000kms and a 5-year lease term.^}

Since the Discount came into effect in December 2022, is has helped drive up the number of EV models available in Australia (56 to over 160^) as well as new-car sales (from 2% to more than 12% by the end of 2025#).

Check out this video to learn more about how the EV Discount and novated leasing could save you.

How much could you save?

Ready to make the switch? View our latest deals here, and get your estimated savings here.

^{*Footnote: MMS data (Period 1/10/2025 – 31/12/2025)}

^{**Electric Vehicle Council}

^†Treasury

^{#Electric Vehicle Council State of Electric Vehicles 2025}

^{*,^, Displayed price based on an annual $90,000 salary, an annual distance travelled of 15,000kms and a 5-year lease term. Please refer to maxxia.com.au/car-offers for full assumptions, terms and conditions.}

^{^Novated Lease example: The estimated potential tax benefit is over the full-term of the lease, is exclusive of GST and is based on the assumption that you would salary package using Employee Contribution Method (ECM) or Fringe Benefits Tax Exempt Method. The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,387. Payment includes: Your car payments, fuel or charging, registration, tyres, insurance, scheduled servicing, fleet management fee and are exclusive of GST. The estimated annual benefit will vary depending upon salary, employment circumstances, selected benefits and applicable tax treatment. The example assumes you earn $90,000 a year, a 5-year lease term, an annual distance travelled of 15,000kmsand a 28.13% residual value. GST of 1/11th is payable on your ECM contributions. State Stamp Duty rates apply. PAYG tax rates effective 1 July 2024 have been used.}

^{Things you need to know: This general information doesn't take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Conditions and fees apply, and you should consider if they are acceptable before you accept any arrangements with Maxxia, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. Maxxia may pay and/or receive commissions in connection with its services.}

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