Novated Lease Cost for a Jaecoo J5 EV
What a Jaecoo J5 EV costs from your pay through a novated lease, and how much you'd save compared with buying it yourself, at salaries from $80,000 to $150,000.
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Take-home pay reduction per fortnight. Jaecoo J5 EV Summit, from about $36,990 plus on-road costs, prices vary by state. Source: Zecar Jaecoo prices (October 2026).
About the Jaecoo J5 EV
The J5 EV is a small SUV from Chery's Jaecoo brand that launched in January 2026 and quickly became one of the top five electric cars. There's one well-equipped Summit variant with a 58.9 kWh LFP battery, a claimed 402 km WLTP range and a claimed 14.3 kWh/100 km, one of the most efficient figures in its class. It was the number 5 best-selling electric car in Australia from January to September 2026, with 10,664 sales.
At $36,990, the Jaecoo J5 EV sits in the busiest part of the electric car market. You get back the GST of about $3,363 on the price, and the lease is small enough that the residual ($10,405 after 5 years) is easy to pay out or refinance. It's also under the $75,000 cap in the proposed FBT changes, so a new lease signed between 1 April 2027 and 1 April 2029 would still be fully exempt if the change becomes law.
Jaecoo J5 EV novated lease cost by salary
Over 5 years, with running costs of about $4,610 a year bundled into the lease.
| Salary | Pre-tax deduction a year | Take-home pay drop a fortnight | Buying it yourself a year | Saving a year | Saving over 5 years |
|---|---|---|---|---|---|
| $80,000 | $11,445 | $299 | $12,040 | $4,257 | $21,285 |
| $100,000 | $11,445 | $299 | $12,040 | $4,257 | $21,285 |
| $120,000 | $11,445 | $299 | $12,040 | $4,257 | $21,285 |
| $150,000 | $11,445 | $269 | $12,040 | $5,058 | $25,290 |
The saving grows with your salary because each pre-tax dollar saves your marginal tax rate: 30% plus Medicare between $45,001 and $135,000, and 37% plus Medicare above that. On $150,000 the Jaecoo J5 EV saves $5,058 a year, against $4,257 on $80,000.
Over 3 years
A shorter lease has higher payments but a bigger residual ($17,341 after 3 years) to pay or refinance at the end.
| Salary | Pre-tax deduction a year | Take-home pay drop a fortnight | Saving a year | Saving over 3 years |
|---|---|---|---|---|
| $80,000 | $12,798 | $335 | $4,825 | $14,475 |
| $100,000 | $12,798 | $335 | $4,825 | $14,475 |
| $120,000 | $12,798 | $335 | $4,825 | $14,475 |
| $150,000 | $12,798 | $300 | $5,721 | $17,162 |
The electric car FBT exemption
The Jaecoo J5 EV Summit costs $36,990 before on-road costs, well under the 2026–27 luxury car tax threshold for fuel-efficient cars of $91,661, so it's exempt from fringe benefits tax when provided through a novated lease (for a car first held and used from 1 July 2022). The threshold is tested on the car's value including GST and options, but not registration or stamp duty, so most variants and option packs stay well clear of it. With no FBT, the whole lease and running costs can come from pre-tax pay, and the provider claims back GST on the price (up to $6,353) and on running costs.
The 2026–27 Budget proposed phasing the exemption down: from 1 April 2027 only cars costing $75,000 or less would stay fully exempt, cars between $75,000 and the threshold would get a 25% discount, and from 1 April 2029 every electric car would get a 25% discount. Existing leases wouldn't be affected. This isn't law yet. An exempt car still adds a reportable fringe benefit to your income statement, which counts for HECS-HELP, the Medicare levy surcharge and some payments.
Charging vs petrol
From its battery and WLTP range, the Jaecoo J5 EV uses about 14.7 kWh/100 km on the test cycle, or roughly 16.8 kWh/100 km in real-world driving. Driving 15,000 km a year and charging mostly at home, that's about $910 a year in electricity, against $2,194 for a petrol car using 7.5 L/100 km at $1.95 a litre: a saving of about $1,284 a year before the tax benefit. On an off-peak EV tariff or with solar, charging can cost much less.
Jaecoo J5 EV vs similar electric cars
| Model | From | Range (WLTP) | Per fortnight at $100k | Saving a year |
|---|---|---|---|---|
| Jaecoo J5 EV Summit | $36,990 | 402 km | $299 | $4,257 |
| BYD Atto 2 Dynamic | $31,990 | 345 km | $276 | $3,877 |
| BYD Atto 3 Evo Dynamic | $41,990 | 420 km | $323 | $4,637 |
On a $100,000 salary, the BYD Atto 2 would cost $24 a fortnight less than the Jaecoo J5 EV through a novated lease, and the BYD Atto 3 $24 a fortnight more. The Jaecoo J5 EV has a claimed 402 km WLTP range, against 345 km and 420 km. Compare all 15 electric cars.
Assumptions
Assumes a 5-year lease (3-year figures shown separately), 15,000 km a year, a 8.5% interest rate and $500 a year management fee (the calculator's defaults), the ATO minimum residual (28.13% at 5 years, 46.88% at 3 years, of the price less GST), and running costs of $3,700 a year for registration, insurance, servicing and tyres plus charging. Charging uses real-world energy use of WLTP figures + 15%, 85% home charging at 29c/kWh (plus 10% charging losses) and 15% public fast charging at 60c/kWh. Take-home pay uses 2026–27 resident tax rates with the Medicare levy and no HECS. "Buying it yourself" means a car loan at the same rate and term with the same balloon, paid from after-tax pay. Prices are list prices before on-road costs unless marked drive-away; your lease is usually based on the drive-away price, which is higher. Running costs for the Jaecoo J5 EV are $4,610 a year ($3,700 plus $910 charging).
Sources
- Zecar Jaecoo prices: price and specifications (October 2026)
- The Driven: Australian EV sales by model, 2026
- ATO: luxury car tax rate and thresholds
- ATO: proposed changes to the electric car FBT discount
Frequently asked questions
How much does a novated lease on a Jaecoo J5 EV cost?
On a $100,000 salary, a 5-year novated lease on a Jaecoo J5 EV Summit (from about $36,990 plus on-road costs) would reduce your take-home pay by about $299 a fortnight, including running costs. That's about $4,257 a year less than buying the car with a loan from after-tax pay. On $150,000 it's $269 a fortnight.
Is the Jaecoo J5 EV FBT exempt on a novated lease?
Yes. At $36,990 it's under the 2026–27 luxury car tax threshold for fuel-efficient cars ($91,661), so it qualifies for the electric car FBT exemption. It's also under the $75,000 cap in the proposed changes from 1 April 2027.
How much does it cost to charge a Jaecoo J5 EV?
About $910 a year for 15,000 km, mostly charged at home at 29c/kWh, or roughly $6 per 100 km. A comparable petrol car would cost about $2,194 a year in fuel.
Prices as at October 2026; check with the dealer. Last reviewed October 2026. These are estimates for general information only, based on 2026–27 tax rates, and aren't financial or tax advice. Lease quotes vary between providers. Check figures with your employer's packaging provider or a licensed professional.