Cut Back Fleet Car Overheads With Vehicle Leasing
If you lease a motor vehicle instead of buying it you avoid lots of the hassles related to car ownership, because contract hire leased motor cars are normally brand new, they are covered by the manufacturers warranty and because of this you don’t have to pay for any repairs or maintenance.
Because leasing firms don’t ask for a massive deposit as a motor vehicle finance company would, your small business retains far more cash than it could if it bought outright. That is cash that the company can then use to promote its services, or purchase inventory and comsumer awareness with. The big deposits required by finance firms are very often quite harmful to the cashflow of a small or new businesses.
Leasing your company vehicles can even imply that you will be able to drive a far more luxurious car than you would be able to if you were to purchase them outright. This is because when you lease you pay only for the amount lost in devaluation within your lease period. As a luxury car looses its value far slower than a cheap budget motor vehicle, it’s normally actually cheaper to drive a leased top of the range Lexus than it is to drive a cheaper Toyota or Chrysler. So not only do you pay less, you also get a far better vehicle for your investment.
Taxation benefits also apply to workers who use their company car allowance to lease instead of simply accepting a company car. This is because a vehicle obtained through car leasing is not liable to benefit in kind taxation as a traditional company vehicle would be. Sensible workers who perceive the tax breaks will usually jump on the chance to save money and gain the ability to drive a far superior car than they’d otherwise be supplied with at the same time.
Many people new to car leasing are stunned at just how many choices they are given regarding the specification of the vehicle. You’ll basically have the identical choices relating to the motor vehicles color, engine type and spec that you would enjoy were you to actually purchase the motor vehicle outright.
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