Six Facts That Nobody Told You About Commercial Vehicle Leasing
Commercial leasing is one of the most recommended ways to purchase a vehicle, well over 500 companies have chosen to lease vehicles within the last 10 years. Leasing vehicles has increased gradually because most companies want a hassle-free and cost effective way of being able to provide a vehicle only for business uses for their employees. Giving companies the ability to choose the sizes of the vehicle, the best terms as well as miles the car can be driven, depending on the job where this vehicle is required to be used.
Closed-End Leasing is one of the most standard and most recommended vehicle leasing, companies have the ability to set mileage terms anywhere from 10,000 miles to 20,000, as well as setting the length of the lease from 1 year up to 4 years. At the end of the lease companies have the option to purchase the vehicle or return the vehicle to the lessor. Closed-end leasing also ensures companies that repairs and damages will be covered and repaired without the company having to pay extra or out of pocket for repairs.
Open-End Leases or best known as TRAC- terminal rental adjustment clause leases, these leases are mainly more common used for commercial uses mainly because this lease allows you to have more flexible terms and should be based on the needs of their businesses. Companies who choose this lease will also have the ability to choose how far and how much miles need to be driven with each use, to ensure your business can thrive. This lease also allows companies to be able to buy the vehicle at residual value or giving them the option to pay the difference between market value of the vehicle and the residual value.
Benefits of using a business leasing, tax advantages meaning these leases are 100% tax deductibles, lower monthly payments making it easier for the company to pay on time and pay the amount needed. Other benefits included with using a business lease are control business image, meaning if you’re a eco friendly company you have the ability to lease a eco friendly vehicle. Business leasing also gives companies the options to mix and match vehicles, giving the company an array of vehicles to choose form, and customization options giving the company the option to put decals and wraps on their vehicle they’re leasing in order to promote their businesses.
Many companies decide to use car lease because of the ability of being able to choose between vehicles and also be supplied through a national network of partnering dealerships to give companies more choices of vehicles. Companies also use car lease because of the accessibility of looking up any car or vehicle they’re looking for with no hassles or issues. If companies don’t see their desired vehicle they need for their business, commercial leasing will help get any vehicle the company needs while also giving the company a good deal. It’s also very rare for the commercial leasing not to have the desired vehicle each company is looking for because lesser always make sure those vehicles are always available or they will do the research for you to ensure you get the vehicle you need.
Corporate fleet vehicles come with maintenance packages with key benefits such as no unexpected bills protecting any businesses from unexpected maintenance bills or repairs. Trusted Service centers are included with using fleet maintenance packages giving companies the flexibility to use any of the trust service centers around the world for their corporate fleet vehicles. Better Budget amenities and abilities are one of the biggest benefits from choosing fleet maintenance packages giving companies the ability to choose flexible payments as well as billing options.