The Subaru Uncharted is one of those electric vehicles that makes more sense once you look beyond the purchase price.
On the road, it feels like a Subaru first and an EV second. The steering and handling are settled and predictable, the cabin is practical, and Subaru hasn’t abandoned physical controls in favour of putting everything behind a touchscreen.
There is still plenty of technology, including a 14-inch centre screen, wireless Apple CarPlay and Android Auto, two wireless phone chargers and a Harman Kardon sound system. Rear passengers get air vents, USB-C charging and heated outboard seats, while the 403-litre boot provides enough room for normal family or business use.
The dual-motor AWD drivetrain produces 252kW and Subaru claims 0–100km/h in around five seconds. Its 74.7kWh battery provides up to 522km of WLTP range, with charging at up to 150kW DC and 22kW AC. During our predominantly urban driving, consumption was sitting around 16kWh/100km, almost exactly matching Subaru’s official figure.
But for private new-car buyers, the really interesting part of the Uncharted equation could be the novated lease.
The FBT exemption changes the numbers
Summit Fleet Leasing and Management provided Fleet Auto News with a novated lease quotation for the Subaru Uncharted so we could see what the vehicle could actually cost an employee rather than simply looking at its drive-away price.
The quote is based on an employee earning $80,000 a year, a 48-month lease and 60,000km in NSW. The quoted Uncharted has an on-road price of $66,582 and includes Cosmic White Pearl paint and the panoramic glass roof.
| Summit Fleet Leasing and Management quote | Subaru Uncharted |
|---|---|
| Total on-road price | $66,582.00 |
| Amount financed | $60,865.78 |
| Vehicle purchase saving | $5,716.22 |
| Lease term | 48 months |
| Contract distance | 60,000km |
| Gross salary assumption | $80,000 p.a. |
| Annual lease budget | $19,410.12 |
| Monthly lease budget | $1,617.51 |
| Estimated net cost per month | $1,099.91 |
| Estimated net cost per fortnight | $507.65 |
| ESTIMATED NET COST PER WEEK | $253.82 |
| FBT | $0.00 |
| Post-tax employee contribution | $0.00 |
| Estimated saving over lease | $32,609.00 |
| Residual value excl. GST | $22,824.67 |
The headline number isn’t the $1,617.51 monthly lease budget. That amount includes the finance rental plus budgeted running costs such as comprehensive insurance, charging, servicing and maintenance, registration and CTP, replacement tyres and administration.
The more relevant figure for the employee is Summit’s estimated reduction in take-home pay: $253.82 per week, $507.65 per fortnight or $1,099.91 per month.
And this is where the current FBT treatment of eligible battery-electric vehicles becomes important.
Under the ATO rules, an eligible battery-electric car provided through a salary sacrifice arrangement can be exempt from FBT, provided the relevant requirements are met, including the vehicle’s first-held-and-used date and the luxury car tax rules. Associated eligible car expenses can also receive the exemption.
In the Summit quote for the Uncharted, that results in $0 FBT and $0 post-tax employee contribution, with the quoted annual lease cost of $19,410.12 packaged pre-tax.
That’s why an eligible EV can be particularly attractive through a novated lease. Instead of comparing the drive-away price of an EV with the price of another vehicle and deciding the electric model looks expensive, buyers need to compare the after-tax impact on their salary.
Summit estimates a $32,609 saving over the four-year lease under the assumptions in this quotation.
That doesn’t mean every buyer will save $32,609. Salary, kilometres, insurance, charging costs, vehicle price, finance rates and individual circumstances will change the result. The FBT-exempt car benefit can also still contribute to an employee’s reportable fringe benefits amount, which can affect some income-tested obligations and benefits even though the employee doesn’t pay income tax on that reported amount.
But it does demonstrate why anyone shopping for an eligible BEV should consider getting a novated lease quote before making a decision based purely on the retail price.
Verdict
The Uncharted already makes a convincing case as a car. It is comfortable, practical, quick and, importantly, drives with the maturity we expect from Subaru.
The novated lease numbers add another dimension.
At $66,582 on-road in the Summit Fleet Leasing and Management quote, some private buyers may initially see the Uncharted as an expensive compact SUV. But an eligible buyer using a novated lease isn’t necessarily paying for it in the same way as someone purchasing a petrol vehicle from after-tax income.
With the FBT exemption applied in this quote, the estimated impact on an $80,000 salary is $253.82 per week, including the budgeted running costs.
That is why the Electric Car Discount has become such an important part of the new-car buying equation. For buyers who can access salary packaging, the question shouldn’t simply be “How much does this EV cost?”
It should also be “What does this EV cost me after tax through a novated lease?”
For the Subaru Uncharted, the answer makes it a much more interesting proposition.
Novated lease quotation supplied by Summit Fleet Leasing and Management and dated 16 September 2026. Figures are based on the assumptions contained in that specific quotation and will vary according to individual circumstances. Buyers should obtain their own quotation and financial or tax advice where appropriate.
