This also means you don’t have to worry about how much it is worth when you sell it. We will handle everything about getting it sold and the risk of loss lies entirely with us.
No problem. Our leases do not require any down payment. Not having to make a down payment means more cash for your business.
When you purchase a car or finance a vehicle; you pay for the entire cost of the vehicle (and then some). When you lease a vehicle, you only pay the difference between the vehicles cost and the expected car value at the end of the lease (residual value). Example: if you are buying a $25,000 car and the residual value is 35% percent after four years, you will make payments on only $16,250.
If needing a newer, dependable vehicle for you and your drivers is important to your business, a lease might be the best way to go.
Lease terms can be as short as 12 months and as long as 60 months.
Lease payments can be considered an operating expense and potentially reduce your taxable income. Also, under current accounting standards, lease obligations do not appear on your balance sheet, meaning a lower debt to equity ratio. That could mean a better company credit rating and possible lower borrowing costs.