When your business operates a company vehicle or vehicles, there are many benefits to consider swapping from owning them to leasing them. Selecting a cost-effective commercial vehicle to run can help save your company money and ensure it portrays an excellent image of your company to the general public. There are a lot of vehicle leasing companies you can consider using that have a large selection of commercial vehicles that will be suitable for your business. Below you can see why you should consider leasing your company vehicle and the benefits that this can give you.
Affordable Monthly Payments
When you look at the cost of repaying a loan or finance to pay for a vehicle, leasing it can save you a considerable amount of money monthly. When you have a VW transporter lease or a different vehicle, you only pay for the time you are leasing it and do not pay the total cost for it in your monthly payments. Payments are often considerably smaller than on a finance deal or bank loan and can help the cash flow of your business.
You can also benefit from ignoring the vehicle’s depreciation, as once your lease finishes, you can walk away without having to pay anything else. You can get a new vehicle once your lease expires and never worry about how much money you lose driving it off the forecourt.
Drive The Latest Model
You can create an excellent first impression of your company when you are driving a new vehicle that looks fantastic with your company’s livery. A new vehicle will have less chance of breaking down or needing continual servicing, and they are also much more reliable. With the money that you save on leasing your company vehicle, you can afford to spend more and get one that is top of the line, with all the latest technology and driver aids.
Road Tax & Maintenance Included In The Cost
Another benefit your business can enjoy when leasing a company vehicle is the cost of road tax and maintenance being included in your low monthly payment. The road tax for your company vehicle is automatically taken care of for you and adding a maintenance package to your lease will ensure you get no costly repair bills. Over the lifetime of your lease, it can save your business a significant amount of money on the vehicle’s running costs, so it is something you should consider carefully.
Enjoy The Tax Benefits
Your company can also enjoy tax benefits for leasing a company vehicle, and you can claim back 100% of the VAT you pay on your leasing contract. You can also claim back the VAT on any maintenance costs and excess mileage, and there can be even more incentives if you opt for a fully electric vehicle. You can click here to get more information on the tax allowances you can enjoy for your business when leasing a company vehicle.
Talk to your company accountant, and they will most likely tell you it is a no-brainer, do not buy; lease your company vehicle!