2026 Leapmotor B05: Is It Worth Novated Leasing?
The Leapmotor B05 has landed in Australia to rival the MG4 and BYD Dolphin. Here's what PAYG employees should know before novated leasing one.
A new contender has entered the affordable electric hatchback market. Leapmotor has confirmed pricing and specifications for its B05 — a rear-wheel-drive small EV pitched squarely against the MG4 Urban and BYD Dolphin — with Australian deliveries now underway (EVcentral, July 2026).
Leapmotor isn't a household name here yet, but it's backed by Stellantis globally, which at least provides some comfort around parts supply and dealer network ambitions. The B05 slots into exactly the price bracket where novated leasing tends to make the most sense for everyday PAYG employees — affordable enough to be accessible, but still fully eligible for the FBT exemption that applies to battery electric vehicles.
What this means for novated lease customers
The B05's positioning is genuinely interesting for anyone shopping a novated lease right now. The FBT exemption for eligible BEVs under the luxury car tax threshold is still in place, which means structuring a novated lease on a vehicle like the B05 can deliver material pre-tax savings compared to buying outright — without touching the luxury end of the market where the exemption cuts out.
The rear-wheel-drive layout is a minor but real differentiator over some rivals at this price. Whether that matters to you depends on how you drive. What matters more from a leasing perspective is the drive-away price, the residual value outlook, and whether your employer's novated lease provider can actually settle on the vehicle. millarX works with a broad lender panel and can price Leapmotor alongside the MG4, BYD Dolphin, and other FBT-exempt EVs so you're comparing apples with apples.
One honest caveat: Leapmotor residual values in Australia are largely unproven. That uncertainty cuts both ways — it's worth running the numbers carefully rather than assuming the lease stacks up the same way an established brand might. We'd rather you go in with eyes open than be surprised at payout time.
Common questions
Is the Leapmotor B05 eligible for the FBT exemption on novated leases?
Based on its positioning as a battery electric vehicle priced below the luxury car tax threshold, the B05 appears to meet the current eligibility criteria for the FBT exemption. You should confirm the final drive-away price against the prevailing LCT threshold before signing anything, as pricing can shift between announcement and delivery.
How does the B05 compare to the MG4 or BYD Dolphin for a novated lease?
All three sit in a similar price band and are FBT-exempt BEVs, so the lease structure is broadly comparable. The meaningful differences come down to residual value assumptions, your employer's preferred funder, and personal preference on range and features. Getting competing lease quotes on all three is straightforward — and worthwhile.
Does Leapmotor being a newer brand in Australia create any lease risk?
Potentially, yes. Residual values for newer, less-established brands carry more uncertainty, which can affect your total lease cost. Stellantis's involvement provides some backstop, but it's a fair question to ask your novated lease provider upfront.
Can I novated lease a Leapmotor B05 right now?
If Australian deliveries have commenced, it should be available to order through a novated lease. Contact millarX to confirm availability, get a quote, and compare it against rival models before committing.
What happens to the FBT exemption if policy changes?
The exemption is legislated but not permanent — it has been subject to ongoing policy debate. If the exemption were wound back mid-lease, transitional arrangements would depend on the legislation at the time. millarX monitors policy changes and will flag material risks to customers.