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Top Reasons to Lease a Vehicle for you Company:
- Preserve traditional bank credit lines for business operation use.
- Maintain strong short term borrowing capabilities as lease financing may be seen as a supplementary form of financing.
- Many leases may allow for a tax advantage as a deduction against income. The lease payments are considered an operating expense rather than a capital expenditure which make them fully tax deductible. Check with your accountant.
- Protect valuable working capital with lease financing instead of purchasing a vehicle with cash.
- By appearing as an expense item (rather than debt), a lease can provide lending ratios required by traditional bank credit lines.
- Predictable expenditure is easily forecast as an operating expense and the difficulty of budgeting for capital expenditure is eliminated. Many leases are “off balance sheet”. By appearing as an expense item rather than debt, a lease can provide lending ratios required by traditional bank credit lines.
- Pick the car that fulfills your needs rather than be restricted by budget. The monthly cost differences may be minimal with lease financing.
Upgrade your Vehicle
- Get the vehicle you need when you need it.
- When a vehicle is purchased, it is often depreciated over a term longer than its technological life. As a result, some companies choose to use an obsolete vehicle rather than incur an additional capital expenditure.
- Lease financing allows for the easy upgrade of vehicles, taking advantage of technological improvements.