The Top Benefits of Leasing a Business Vehicle
When you are running a successful business there may become a time that need to get a business vehicle. Getting a panel van could make it easier to transport supplies, for example, rather than using your smaller family car. If you’re not sure whether to lease a company vehicle or not, check out these benefits that may help you decide.
While you might consider buying a new vehicle, leasing makes more sense because then your money isn’t tied up in transport. Leases save your limited working capital so that you can put it toward business expansion or another objective. You might also be able to get a better rate than a manufacturer with a lease from a reputable van supplier.
Less Money Up-Front
Leasing typically requires little down payment, which is great when you have a lot of other business expenses. That’s the case with the VW Transporter lease from Swiss Vans, and here are 8 Videos About New Vw Transporter Lease That’ll Make You Cry. You’ll also pay VAT monthly rather than upfront.
Deducting lease payments is much easier than worrying about depreciation if you bought the automobile instead. Depreciation schedules can be complex and don’t always reflect market values of owned cars, which is a headache. So, it’s nice to be able to avoid that stress.
When you get a panel van or another type of vehicle from a trustworthy supplier, you can start to build a relationship. Then, as you need more vans for your employees, the supplier will provide you with them, making it a scalable venture.
Personalise the Lease
Rather than having a one-size-fits-all approach, look for a lease that can be customized. That way, you can fit it to the terms that you’re comfortable with. For example, ask if you’re able to add a decal to the van so that you can advertise your business while driving around in it as part of your marketing strategy.
At the End of the Lease
When you first lease a company auto, ask the provider what happens at the end of the agreement. Often you can return the van without worrying about what to do with it or having to take the time to try to sell it.
In many cases, you can deduct monthly lease payments as a business expense. While you do not own it, you are still using it for your company. When tax time rolls around, ask someone who has a company fleet if they can advise you in this area.
Change Your Car Soon
If you’re leasing rather than buying the car, another advantage is that you can change it in a few years (depending on the signed agreement). If you know that you will tire of the current automobile within a short time, or want to keep up with trends, then it’s easier to lease another van than buy one.
Add Service and Maintenance
Often leasing agreements can include service and maintenance expenses in the monthly payments. Adding these things to the package is a good idea because then you won’t have to pay for any costly unexpected repairs that you didn’t see coming. Instead, you’re factoring in the cost of driving, and that’s a good thing.
Option to Buy
Some lease agreements allow you the option to buy the van or other type of vehicle at the end of the term if you want to do so. That’s great when you don’t have the money for the car outright but want to know it could be yours down the line. Alternatively, you might have the option to refinance it, which could be useful to your business too. Or, just give the car back.
If you are considering leasing a company vehicle, there are so many advantages to doing so.
Planning can help you to get the right vehicle for your needs and then have an easier time getting to your clients, moving supplies, and doing other business-related activities. Make sure you budget for fuel costs, too, based on the van’s gas mileage and how much you expect to drive this year.