Novated lease
BYD Seal on a novated lease: what it really costs
Short answer: the BYD Seal Premium costs A$57,411.75 drive-away in Victoria (postcode 3162) on BYD's own configurator, well under the A$91,661 threshold, so it qualifies for the EV FBT exemption. On our calculator's default assumptions, a 5-year novated lease works out at about A$944 a month before tax, reduces take-home pay by about A$401 a fortnight on a A$120,000 salary, and leaves a A$16,150 balloon at the end. The Performance is A$66,789.75 drive-away and about A$1,099 a month.
General information, not tax or financial advice. We don't recommend any lease provider.
General information, not tax advice. Rules change and your circumstances differ. Check the ATO sources linked here and speak to a registered tax agent or your employer's payroll team before you decide.
Price by variant and FBT status
| Variant | List price (before on-roads) | Drive-away, VIC 3162 | Under A$91,661 FBT threshold? |
|---|---|---|---|
| Seal Premium (RWD) | A$52,990 | A$57,411.75 | Yes |
| Seal Performance (AWD) | A$61,990 | A$66,789.75 | Yes |
Drive-away prices are from BYD Australia's online configurator, entered with postcode 3162, private registration, Aurora White paint and no accessories, checked 21 October 2026. On-road costs were A$4,421.75 (Premium) and A$4,799.75 (Performance), including stamp duty, registration, CTP, a A$1,100 dealer delivery fee and plates. Paint and accessories add to this.
The Seal Dynamic is no longer sold, so it isn't listed (CarExpert).
An electric car is exempt from FBT on a novated lease if its first retail price is below the luxury car tax threshold for fuel-efficient vehicles, which is A$91,661 for 2026–27 (ATO, LCT thresholds; ATO, Electric cars exemption). Both Seal variants sit under A$75,000 too, so they also stay clear of the proposed post-April 2027 cap (not yet law; see what happens after March 2027).
Worked lease examples
These use exactly the same maths as our novated lease calculator: a standard loan formula on the full drive-away price, the ATO minimum residual (46.88% for 3 years, 28.13% for 5 years, ATO TD 93/142), 2026–27 tax rates plus the 2% Medicare levy, and no FBT.
Assumptions: interest rate 8% a year, running costs A$4,000 a year (rego, insurance, tyres, servicing and charging) packaged before tax. These are the calculator's default inputs, not a quote. Real providers add fees and usually finance the GST-exclusive price, so your quote will differ.
Seal Premium, A$57,411.75 drive-away
| Salary | Term | Lease payment (each month, before tax) | Take-home pay drop (each fortnight) | Balloon (residual) |
|---|---|---|---|---|
| A$80,000 | 3 years | A$1,135 | A$461 | A$26,915 |
| A$120,000 | 3 years | A$1,135 | A$461 | A$26,915 |
| A$180,000 | 3 years | A$1,135 | A$413 | A$26,915 |
| A$80,000 | 5 years | A$944 | A$401 | A$16,150 |
| A$120,000 | 5 years | A$944 | A$401 | A$16,150 |
| A$180,000 | 5 years | A$944 | A$360 | A$16,150 |
Seal Performance, A$66,789.75 drive-away
| Salary | Term | Lease payment (each month, before tax) | Take-home pay drop (each fortnight) | Balloon (residual) |
|---|---|---|---|---|
| A$80,000 | 3 years | A$1,321 | A$519 | A$31,311 |
| A$120,000 | 3 years | A$1,321 | A$519 | A$31,311 |
| A$180,000 | 3 years | A$1,321 | A$466 | A$31,311 |
| A$80,000 | 5 years | A$1,099 | A$449 | A$18,788 |
| A$120,000 | 5 years | A$1,099 | A$449 | A$18,788 |
| A$180,000 | 5 years | A$1,099 | A$403 | A$18,788 |
The take-home figure includes the A$4,000 of running costs, because those are paid from your pre-tax salary too. A$80,000 and A$120,000 give the same result because both salaries stay in the 30% tax bracket after the deduction.
Run your own numbers: Seal Premium, 5 years, A$120k · Seal Performance, 5 years, A$120k.
Running costs
Home charging: the Seal Premium uses 14.6 kWh/100 km and the Performance 16.4 kWh/100 km on the Australian Green Vehicle Guide lab test (CarExpert, citing the Green Vehicle Guide). On OVO Energy's EV Plan at 4.5c/kWh from midnight to 6am in Victoria (OVO), that's about A$0.66 per 100 km (Premium) or A$0.74 per 100 km (Performance). Supply charges and rates outside the window are extra, and real-world use is usually higher than the lab figure. See EV electricity plans in Victoria compared.
What a lease package typically includes: rego and CTP, comprehensive insurance, servicing, tyres, roadside assistance and a charging or electricity budget, all paid from pre-tax salary. A home charger can often be packaged too. Our novated lease inclusions guide lists 25 items to ask about.
Key specs
| Seal Premium | Seal Performance | |
|---|---|---|
| Range (WLTP) | 570 km | 520 km |
| Battery | 82.56 kWh Blade (LFP) | 82.56 kWh Blade (LFP) |
| DC charging (peak) | 150 kW | 150 kW |
| AC charging | 7 kW | 7 kW |
| Drive, power | RWD, 230 kW | AWD, 390 kW |
| 0–100 km/h | 5.9 s | 3.8 s |
Sources: BYD Australia configurator (Performance specs), BYD Australia Seal page and CarExpert (Premium range and battery), CarsGuide (Premium charging).
Seal vs its nearest rivals
Lease figures use the same assumptions as above: 5 years, A$120,000 salary, 8%, A$4,000 running costs.
| Car | Drive-away price | Lease payment (each month, before tax) | Take-home pay drop (each fortnight) |
|---|---|---|---|
| BYD Seal Premium | A$57,412 (VIC 3162, BYD) | A$944 | A$401 |
| Tesla Model 3 RWD | A$50,100 | A$824 | A$363 |
| MG IM5 Premium | A$57,990 | A$954 | A$404 |
| Tesla Model 3 Premium RWD | A$59,650 | A$981 | A$413 |
Rival drive-away prices are from EV Price Tracker Australia (data updated October 2026), which doesn't state the state used, so treat them as a guide and check the maker's site for your postcode. Prefer an SUV? See the BYD Sealion 7 or the Tesla Model Y.
Deals
We only list deals we've verified. BYD's Seal configurator currently shows a 6% novated lease discount (1 October to 21 December 2026), but BYD's published offer terms list only the Atto 1, Atto 2, Atto 3, Dolphin and Sealion 7 as eligible, not the Seal. Check eligibility with BYD or your lease provider before you rely on it. For other current verified offers, see our Deals page.
FAQ
How much is a BYD Seal on a novated lease?
On our calculator's defaults (8% interest, A$4,000 a year running costs), a Seal Premium at A$57,411.75 drive-away costs about A$944 a month before tax over 5 years, or A$1,135 a month over 3 years. On a A$120,000 salary, take-home pay drops by about A$401 a fortnight over 5 years.
What is the balloon payment on a BYD Seal novated lease?
The ATO minimum residual is 28.13% of the price for a 5-year lease and 46.88% for 3 years. For the Seal Premium that's about A$16,150 (5 years) or A$26,915 (3 years).
Is the BYD Seal FBT-exempt?
Yes. Both variants are well under the 2026–27 luxury car tax threshold for fuel-efficient vehicles of A$91,661, so they qualify for the EV FBT exemption on a novated lease.
How much does it cost to charge a BYD Seal at home?
About A$0.66 per 100 km for the Premium on a 4.5c/kWh overnight EV plan in Victoria, based on the Green Vehicle Guide figure of 14.6 kWh/100 km. Supply charges are extra.
Sources
- BYD Australia, Seal configurator (VIC 3162 drive-away, checked 21 October 2026): https://bydautomotive.com.au/configurator/byd-seal
- BYD Australia, Seal: https://bydautomotive.com.au/seal
- BYD Australia, Offers and terms: https://bydautomotive.com.au/offers
- ATO, Luxury car tax rate and thresholds: https://www.ato.gov.au/tax-rates-and-codes/luxury-car-tax-rate-and-thresholds
- ATO, Electric cars exemption: https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/fringe-benefits-tax/types-of-fringe-benefits/fbt-on-cars-other-vehicles-parking-and-tolls/electric-cars-exemption
- ATO, TD 93/142 minimum residual values: https://www.ato.gov.au/law/view/document?DocID=TXD%2FTD93142%2FNAT%2FATO%2F00001
- CarExpert, BYD drops Seal Dynamic: https://www.carexpert.com.au/car-news/byd-drops-its-cheapest-electric-sedan-in-australia
- CarExpert, EVs that avoid FBT (Green Vehicle Guide figures): https://www.carexpert.com.au/car-news/the-evs-that-avoid-fringe-benefits-tax-in-australia
- CarsGuide, BYD Seal Premium review: https://www.carsguide.com.au/ev/byd-seal-premium-92811
- OVO Energy, The EV Plan: https://pages.ovoenergy.com.au/the-ev-plan
- EV Price Tracker Australia: https://evpricetracker.au/
Last checked: 21 October 2026. General information only, not tax, financial, legal or credit advice. We don’t recommend any provider; where businesses are named, it’s for information. See our affiliate disclosure.