2026 Kia EV6: Is It Worth Leasing on a Novated Deal?
The refreshed 2026 Kia EV6 GT-Line is here. Here's what the update means for Australian PAYG employees considering a novated lease. Read the breakdown.
The 2026 Kia EV6 has just been put through its paces, and according to The Driven's drive test, the GT-Line RWD variant delivers sharper styling and genuinely impressive handling — but the pricing has crept up since the original model launched nearly five years ago. That tension between a better car and a higher sticker price is exactly the kind of thing worth thinking through before you sign anything.
For PAYG employees, the EV6 sits in an interesting spot. It qualifies as a battery electric vehicle (BEV), which means it's currently eligible for the FBT exemption on novated leases under the federal government's Electric Car Discount policy. That changes the affordability conversation significantly — though by how much depends on your income, lease term, and how you structure the deal.
What this means for novated lease customers
The refreshed EV6's higher price point is a real consideration. A more expensive vehicle means a larger principal to finance, and while the FBT exemption reduces the effective cost of running the car through a novated lease, it doesn't make an overpriced car a good deal. You still need to run the numbers properly.
On the positive side, the EV6's update — tighter handling, revised exterior — means you're getting a more competitive product for a five-year ownership cycle. Residual value and depreciation matter on a novated lease, and a refreshed model that holds its own against newer Korean and Chinese competitors is a reasonable bet. That said, the GT-Line RWD is one variant; if the price is the sticking point, it's worth checking whether a lower trim level still meets your actual needs.
The FBT exemption for eligible EVs is current policy, not permanent policy. The government has signalled a review of the scheme as uptake grows. Anyone considering a longer lease term should factor in that the tax treatment could change before the lease ends.
Common questions
Does the 2026 Kia EV6 qualify for the novated lease FBT exemption?
Yes — as a battery electric vehicle with a purchase price below the luxury car tax threshold, the EV6 GT-Line RWD currently qualifies for the FBT exemption under Australia's Electric Car Discount policy. Always confirm the current threshold at the time of settlement, as these figures are indexed annually.
Is a novated lease actually cheaper than buying the EV6 outright?
For most PAYG employees, leasing an eligible EV through a novated arrangement offers meaningful potential savings compared to buying out of post-tax income — primarily because pre-tax salary is used to cover the lease and running costs. The exact outcome depends on your marginal tax rate, driving habits, and the deal terms you're offered.
What running costs are typically bundled into a novated lease for an EV like the EV6?
A fully maintained novated lease can bundle registration, insurance, servicing, tyres, and charging costs into a single pre-tax payment. Because the EV6 is electric, fuel costs are replaced by electricity, which tends to be lower and more predictable.
What happens if the FBT exemption is removed mid-lease?
If the FBT exemption were removed while your lease is active, FBT liability could revert to the employer, who would typically pass it on to you via a post-tax contribution. It's a real risk on longer leases and worth discussing with your adviser before committing.
How does the 2026 update affect residual value calculations?
A refreshed model generally supports residual values better than an end-of-cycle vehicle, but this is not guaranteed. Residuals are set at lease inception using ATO guidelines and market benchmarks — the model update is a positive signal, but the EV market is still evolving quickly in Australia.