Issues In Corporate Vehicle Leasing
Corporate vehicle leasing can provide a lot of great advantages for any kind of business
. Usually, it is more cost-effective and lets businesses get the latest vehicle models every time. Newer models also exist that arrive with good features, of which every business can take full advantage of.
Corporate vehicle leasing also translates to having good warranties placed on the vehicles every time. If anything is wrong with a vehicle during this entire period of warranty, the company will take care of it by either fixing up the vehicle or providing another one as a replacement. The majority of leases will also cover any vehicle if it gets involved in an accident through a licensed business driver. So, there is no need to worry about losses when things like this end up happening.
In general, you should have much better luck with deal negotiation for corporate vehicle leasing than when purchasing one, as well. Several things that you can decide for yourself would include the kind and size of the vehicle, the amount of months that you will lease it, and the rate of interest you want to pay for it. There are also others things that you can decide, provided you bring it up with the company.
Routine maintenance and oil changes are usually free of charge whenever you participate in corporate vehicle leasing. This would be of the utmost essence since such things can aid in making sure that every vehicle is working as it should and is reliable. Unfortunately, corporate vehicle leasing also comes with several disadvantages. For one, there are additional fees of mileage. With a lease, you will have a certain amount of miles that you are allowed to drive every year and if you go over that amount, you will need to shell out more money. There is also an early termination fee. This means that if you need to end your lease earlier than originally planned, you could end up owing a huge fee. In fact, you may still have to shell out the exact amount that you initially owed for the rest of your contract. This also holds true in cases of accidents or auto theft that were beyond your control.
For several people, the advantages that come with having fairly new cars each time makes corporate vehicle leasing the perfect choice. For people driving a lot, however, buying might be the better choice. Therefore, you need to carefully take both the advantages and disadvantages into consideration to decide which transportation method would work best for you.
Naturally, there is always the option of purchasing the leased vehicle after the contract. If you come to find that you actually need several company vehicles handy, then this would be the right option to go for.
by: Bill Tsouvalas
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