How to lease a car for your business

How-to-lease-a-car-for-your-business

To some that have never before leased a vehicle, the world of leasing can seem a little confusing. To put it simply, leasing a car is similar to car rental, except when you lease a car you have some options when your lease is up. Leasing a vehicle is a fantastic idea for any companies that do not have the money to buy a car upfront. Take a look at the fleet on offer from Leasing4Business. Lease payments are calculated by how much the cars value will decrease over the lease period, so it works out as cheaper than purchasing a car. It is worth remembering that this also means that the more likely a car is to hold it’s value the less the lease is likely to cost your business. If you can find a car that won’t decrease in value it will usually mean that it will be a car that is of good quality, giving you the perfect impression when you turn up for an important business meeting. Make sure that you choose a presentable vehicle to lease, first impressions are very important they can impact on how your client relations progress.

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You need to do your homework before signing any lease, take a look at what is on the market. An increasing number of people these days are looking at Leasing4Business. A lease is usually for a 3 year period, although these terms can sometimes be negotiated with the lease company.

Here are some other important factors that you need to consider when signing up to a lease agreement for your business.

Capitalised Cost: This is the price of the lease. You want to try and negotiate down the ‘cap cost’ so it becomes less than the retail price the manufacturer charges for the vehicle.

Cap Cost Reductions: If you can, try and find any little thing stat might reduce the amount of your cap cost, things such as the following; factory rebates, incentives offered by dealers, or the value of a vehicle you can trade in.

 

The money factor: This is the term for the interest rate. The money factor will be influenced by a number of different variables, this includes the length of your lease and your credit rating. You will usually find the best of the money factors in the manufacturer-supported lease programmes.