Who Should Lease?
Leasing may be for you.
Leasing offers a wide range of benefits to a large group of vehicle users. While it may not meet everyone’s wants and needs, you may be surprised how often it is appropriate for individuals and businesses.
In The Past, Leasing has been considered the exclusive financial tool of business, the reason being, individuals thought leasing was a complex and sophisticated financial transaction. In fact, individuals will find leasing to be very simple, and they should lease for many of the same reasons that businesses do.
Businesses use leasing to allow for careful cash conservation and financial planning. Requiring no down payment and often no cash outlay at all, a business lease frees up business capital for other purposes. The payment is also completely tax deductible, except for a small lease inclusion amount in some cases. From cars to truck fleets, leasing offers improved cash management to all businesses. In addition, leasing does not affect existing lines of credit. By paying for the vehicle as it is used, the well-managed business often has a lower car payment, which can be converted into a larger car.
Individuals receive the full benefit of leasing’s no down payment and lower cost. Even when the vehicle is not used for business, leasing provides similar benefits to ownership, while allowing for easy disposal of the vehicle, lower payments, and a more expensive vehicle.
Personal & Business use allows the individual to lease the vehicle of his choice with no cash investment while receiving the major benefits that accrue to business. The portion of the vehicle used for business will see significant tax benefits in a simple deduction.