Car-Bon | Leasing and Ridesharing of Electric vehicle

Electrifying Rideshare: How EVs Can Boost Your Bottom Line

A growing number of rideshare drivers are making the switch to electric vehicles (EVs) and not only boosting their income; they’re also saving on operating costs and gaining a competitive advantage on the rideshare apps.

In recent years the rideshare industry has undergone a green revolution with an increasing number of drivers adopting EVs for their rideshare business.

In this blog post, we’ll explore the many benefits of making the switch to an electric vehicle as a rideshare driver.

Benefits of EVs for Rideshare
Greater Fuel Efficiency: Electric vehicles are renowned for their efficiency as they convert a higher percentage of power to the wheels compared to traditional internal combustion engine (ICE) vehicles.  And with the price of petrol skyrocketing, EV drivers are insulated from petrol price hikes, paying significantly less per kilometre and driving their dollar even further.

Lower Operating Costs: One of the most compelling reasons rideshare drivers are turning to EVs is the substantial reduction in operating costs.  Electric vehicles have fewer moving parts, require less maintenance, and don’t rely on expensive fossil fuels.  With no oil changes, fewer brake replacements and lower fuel costs per kilometre, EV drivers experience a dramatic decrease in overall vehicle maintenance expenses, which translates directly into higher profits for rideshare drivers.

Competitive Advantage: Rideshare platforms such as Uber are actively incentivising drivers who use environmentally friendly vehicles, offering EVs greater access to higher rates and servicing all rider categories across the platform.  Many companies also offer additional perks such as bonuses, promotions and priority access to high-demand areas for drivers with EVs. This not only attracts more riders, but also allows EV drivers to capitalise on a competitive edge, ultimately leading to increased earnings.

Enhanced Driver & Rider Experience: If you’ve ever driven an EV, you’ll know they offer a quieter and smoother driving experience compared to traditional ICE vehicles. And with an increasing number of riders seeking eco-friendly transportation options, EV rideshare drivers can tap into this green market by attracting environmentally conscious riders who are willing to pay a premium for the sustainable choice.  The results? Increased rider satisfaction, higher ratings, more tips and higher earnings for rideshare drivers.

Environmentally Friendly: Of course, one of the major positives for rideshare drivers embracing electric vehicles is the significant reduction in carbon emissions.  EVs produce zero tailpipe emissions, which helps mitigate air pollution and combat climate change. By choosing an electric option, rideshare drivers can actively contribute to a cleaner, healthier planet.

Evolving Infrastructure

As the demand for electric vehicles rises, governments and private entities are investing even more in the development of charging infrastructure. In the quickly evolving landscape of Australia’s rideshare industry, the increased deployment of EV chargers looks set to complement the growing number of drivers switching to more sustainable and cost-effective EVs.

With a growing network of fast-charging stations strategically located at key urban hubs and popular rideshare pick-up points, drivers can efficiently recharge their EVs, minimising downtime and maximising their income; all while contributing to the reduction of carbon emissions.

Government incentives and private partnerships are likely to play a crucial role in facilitating this transition, making it increasingly attractive for rideshare operators to adopt electric vehicles as a greener and economically viable choice.

The Future of Rideshare is Electric
The decision to switch to an electric vehicle as a rideshare driver is a powerful choice with far-reaching benefits.

Rideshare drivers who make the switch to EV save on fuel and operating costs and enjoy a significant competitive advantage on rideshare platforms, as well as appealing to eco-conscious riders.

Perhaps most importantly, EV rideshare drivers contribute to a cleaner environment, reducing transport emissions and playing a vital role in the global shift towards sustainable transportation.

Interested in doing Rideshare? Check out our range of vehicles available for Rideshare.

Electric Dreams: Novated Leasing an Electric Vehicle in Australia

Australia is embracing the electric vehicle (EV) revolution and novated leasing has emerged as a convenient, flexible way to access an EV while simplifying your budget and taking advantage of tax incentives and government rebates.

For drivers looking to make the switch to zero emissions transport, novated leasing is an attractive option that offers a compelling blend of financial, environmental and practical advantages that allow employees to pay for a new EV and its running costs from their pre-tax income. With a single weekly payment, you can cut the red tape and tailor your EV lease terms to suit your needs, plus EVs under $89,332 are exempt from Fringe Benefits Tax!

This article explores the ins and outs of novated leasing an EV in Australia, including how a novated lease works, the benefits of novated leasing and how to use a novated lease calculator.

Rideshare Tesla

How does a novated lease work?

Novated leasing is a three-party agreement involving an employee, their employer and a leasing company – like CarBon Leasing & Rentals. Here’s a step-by-step breakdown of how it works:

Vehicle selection: You (the employee) choose the make and model of EV that you’d like to lease.

Novation Agreement: You and your employer then enter into a Novation Agreement, which CarBon provides. This agreement transfers the responsibility for lease payments and vehicle-related expenses from you to your employer.

Lease Payments: Your employer then deducts lease payments and associated costs from your pre-tax income.

Vehicle Use: You have full use of your EV for both work and personal purposes.

Expense Management: The leasing company (CarBon) manages and pays for all vehicle-related expenses, including Finance, Registration, Vehicle Maintenance, Insurance, Tyres, Charging Costs and Roadside Assistance.

End of Lease: At the end of the lease term, you have the option to purchase the vehicle, refinance the residual amount or enter into a new lease agreement.

Benefits – Is an EV novated lease worth it?

If you’re considering an EV, novated leasing offers several advantages. One of the key benefits is the potential to save on income tax. As lease payments are deducted from pre-tax income, this usually results in a lower taxable income, leading to a reduced overall income tax liability.

Save on FBT and GST

The Australian Government has announced that all EVs below the Luxury Car Tax threshold of $89,332 are exempt from Fringe Benefits Tax (FBT). This means all finance and running costs can be paid before you pay tax, with no after-tax contribution required. On a Novated Lease, the vehicle and running costs are also exempt from GST.

In addition, novated leasing provides a hassle-free solution for managing vehicle-related expenses. With finance, registration, vehicle maintenance, insurance, tyres, charging costs and roadside assistance all included, it makes budgeting easy and predictable.

The ability to transfer the lease to a new employer if you change jobs also adds to the excellent flexibility of a novated leasing arrangement.

What is a novated lease calculator and how do I use it?

Before diving into the world of novated leasing, it’s essential to understand the financial implications and benefits. A novated lease calculator is a valuable tool that helps individuals estimate the costs associated with leasing an EV. The calculator considers various factors including the EV’s purchase price, lease term, annual kilometres driven and running costs such as maintenance, insurance and charging costs. By inputting these details, you’ll get a comprehensive overview of your potential savings and the impact on your take-home pay.

So why not give it a go? Simply input some basic information into CarBon’s novated lease calculator and find out how much tax you can save on a new EV!

The Future is electric!

Novated Leasing is a convenient and flexible way to access and pay for an electric vehicle and its running costs from your pre-tax salary.

Take advantage of tax incentives and government rebates and get behind the wheel of a new EV today.

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