Vehicle Leasing for Business
When considering vehicle finance, be it for business or personal use, it is important to take account of the different finance options available and choose the finance product best suited to your particular business needs.
Vehicle Leasing for Business (Finance Lease):
For many businesses Vehicle Leasing is a very attractive and cost effective way of keeping the entire sales fleet and delivery vehicles updated and on the move.
Leasing can be used in a variety of situations whether it is for that new executive car, the entire fleet or delivery and other commercial vehicles that need to be replaced.
There are generally two types of Vehicle Leasing in use, the most well known of which is the Finance Lease or (as it is sometimes known) "Full Payout Lease". The other is Contract Hire (see Contract Hire)
A Finance Lease is a method of leasing used when a business wishes to have flexible options at the end of the lease, either to extend the agreement beyond the original term (by making a small annual payment), or to obtain the value of the equity in the vehicle(s) on disposal. Fixed rental payments are a feature of this type of leasing which makes budgeting of transport needs much simpler. In addition, lease rentals may (subject to current legislation) be offset against a business's taxable profits and can, in certain circumstances, defer its tax liability.
Benefits of Leasing:
- Immediate use of new Toyota vehicles with minimum cash outlay.
- Cash resources and bank credit lines are preserved thus maintaining liquidity.
- The term of the lease can be matched to the economic life of the vehicle - 3 to 5 years.
- A professional sales image is reflected with a modern and up to date fleet of Toyota vehicles
- Sales Professionals are motivated knowing that vehicles will be changed at regular intervals.
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