Being a small business entrepreneur, if you’re wavering to decide whether buying or leasing a vehicle for your business purpose would be the right choice, leasing would prove to be the best option. Many businesses involved in manufacturing to trading require facility of transportation for bringing in raw materials from the market to delivering finished goods to their clients.
For any small business, buying a vehicle tends to be a considerable investment. First of all, by choosing a leasing deal you not only stay away from investing a lump sum down payment but continue enjoying cost effective transportation that reduces your business overhead. When it comes to leasing deal, undoubtedly, the up-front expenditure is likely to be much less than buying which is vital for your effective business operation.
Living in or around Maryland, the US; if you’re one of the promising businessmen planning to invest in a business vehicle, get in touch with Omari Betts , Sales and Leasing Consultant at Chevy Chase Acura to undergo a great deal. Whether, you are intended to buy a pre-used vehicle or a brand new car and show interest in leasing, he is the right person to guide you with his long insight in leasing business. His friendly behavior, in-depth knowledge in the domain and offering customers with most matching car leasing solutions made him demanding to small as well as corporate business houses. Some of the great benefits that you can enjoy out of a leasing a car for your business are as followed.
Initial Investment
When you go for a finance based purchase, the loan amount is calculated by the lending company based on the total car value, minus whatever you pay as down payment or exchange value. The remaining amount is required to be paid by installments also known as EMIs. When leasing, you’re paying for the depreciation part or investing on its dropped price which is determined prior to making the contract. Commonly, leasing companies offer three years terms whereas depending upon which you may or may not require paying any kind of down payment mandatory for purchase. For a small business this down payment is similar to lifeblood. At the end of your leasing period, you’re required to return the car to the dealer and can opt for a new one.
Less Maintenance
Typically, you’re offered bumper-to-bumper warranty under leasing period. This enables you in getting coverage of all maintenance cost by the leasing company under the warranty period. Even though, you’re supposed to bear all costs against oil changes, however, you can enjoy all free services and repairing expenses, which is a great saving for your business.
Tax benefits
Vehicles taken on lease and used for commercial purpose are likely to get tax benefits as per the rules and regulations. If you can simply establish that 50% of the car usage is done for business purpose, you can entitled to get tax exemptions. Many commercial groups prefer possessing cars on lease since this tax amount helps them saving a lot. At the termination of the lease, you don’t have to worry for its reduced value or about disposing the asset. Accompanied by Omari Betts , Sales and Leasing Consultant, Chevy Chase Acura, Maryland you can get another vehicle in absolute good condition followed by the leasing term.
