Top 10 Reasons To Lease Your Business Fleet
Each year more and more companies are considering leasing their business fleet due to its benefits. Companies and businesses are always on the look for high-quality vehicles which cost a lot. Leasing these vehicles costs them a lot less, and they end up saving a lot of cash. Not only this but, they do not have to worry about the maintenance of those cars either. Given below are the top ten reasons as to why should you lease your business fleet.
1.It makes budgeting easier:
By leasing your business fleet, you will know the exact amount of money that will be spent on it. This makes it easier for you to prepare a budget and stick to it. You can also calculate the annual tax, servicing bills, roadside rescue, and recovery, etc. This way you will not be surprised at the end of the year because you knew where every penny was being spent.
Paying for cars and vans and renting them are a lot different especially in terms of money. In the purchase price of one car, you can easily rent up to three cars for months.
3.You can drive any car you want:
Due to the low prices, you can lease any car you want and ride in style. The better the business fleet you rent, the more are your employees going to love it. Your business will attract a lot of potential clients, and more people will want to work for your company.
4.You don’t have to worry about vehicle depreciation:
Vehicle depreciation refers to when the monetary value decreases with time. However, you do not have to worry about it. All you have to do is lease another model, and you have the trendiest car again. You do not have to worry about exchanging or selling off the vehicle.
5.The terms and conditions are flexible:
A basic contract for leasing business fleet is for two to five years. However, it can be cut short if there are any changes in the plan or circumstances.
6.End of Contract Perks:
Many leasing companies offer you to purchase the car at the end of the contract. So, you can either purchase the vehicle, get your contract extended or return the car.
7.Save your balance sheet:
When you rent or lease business fleet, they do not appear on the company’s balance sheet. This is because the company does not own these vehicles. Due to this, your balance sheet and accounts look good especially in front of potential investors and business partners.
8.V.A.T. and Taxes:
You can reclaim up to 50% V.A.T. on cars and 100% on commercial cars based on the element of maintenance. However, you can claim 100% tax on lease payments upon fulfillment of certain conditions.
9.No separate bills:
You will be much more organized as you will get one rental invoice per month which will include all the maintenance and repair bills.
10.Free accident management services:
Most car leasing brokers in Singapore offer free accident management services which save you a lot of time, money and energy. The benefits of leasing your business fleet are numerous and give you multiple reasons to do so. It is the most cost-effective, budget-friendly and convenient way to get vehicles for your company.