Leasing a vehicle for your company is a way for you to rent a car over a length of time, usually 2 to 3 years. It is perfect for newly formed companies, this is because it allows you to pay an agreed monthly amount for your vehicle rather than having to find the cash to buy. Due to the fact that the lease period is fixed, it means that most of the costs involved are also fixed. You will only have to pay the tax, sort out the insurance and pay for the fuel.
The fixed costs are very attractive when you lease a vehicle, remember that when you buy a new car, the second you drive it out of the garage your car will lose value. With a lease car you can avoid this problem and save thousands of pounds. If you want the best deals then go to www.leasing4business.co.uk.
Leasing a vehicle is ideal for small businesses because you can have cars without have to make a purchase. It reduces other costs; service costs, buying and selling a car, administration costs. Once you have finished your lease, all you have to do is hand the keys back and request a newer model. If you’re not planning to travel many miles in your leased car, then you will get a fantastic deal – make sure that you don’t go over the agreed mileage limit. If you want to find a lease company that will offer you some great rates the take a look at Leasing4Business.
Here are some essential tips to consider when leasing a car:
- Look at the annual mileage limits on offer, the total number of payments you will have to make over the period of the lease and the deposit.
- Do your research and know everything that you’ll be paying for. Make sure you are aware of everything, you don’t want to all of a sudden be paying more than expected.
- If you have a VAT registered business you will be able to claim back 50% if the finance rental, but remember that you will be able to claim back 100% of the service payments on the lease.
- If you choose for a non-maintenance contract, you must remember that you will be liable for any repairs or service that needs to be done to your car.
- If you go over the agreed mileage limits you will be liable to pay a set amount per mile that you are over. Check the agreement before you sign it so that you understand any costs you may incur. You should always choose a contract where you won’t go over the limit.
