Best Car Lease Information

One of the advantages to business car leasing is that the cost is spread over a number of years so there is no need for you to pay the entire amount up front which can significantly help maintain cash flow, which is critical to all businesses. Poor cash flow is one of the main causes of small business failure and leasing can help you to keep it better under control. Leasing can also allow you to have a better vehicle to represent your company, that you might not otherwise be able to afford.

Business car leasing can be quite beneficial if you need a fleet of work trucks or vans, as your payments will be lower than if you were to purchase them and you will be able to upgrade every 3 or 4 years. You may also get a deal if you’re leasing a fleet of vehicles rather than just one. You also won’t have to worry about any major maintenance costs as you’ll be returning the vehicles before major things like tires and brakes need to be replaced. You’ll also have the peace of mind of being covered under warranty for the duration of the time you’re using the vehicle or vehicles, and having 24/7 Roadside Assistance which means you’ll never have to worry about you or your employees being stuck on the side of the road somewhere, especially if they’re travelling long distances, as there are tow truck companies in most towns that have contracts with the major brands so that they are called when a call is placed to Roadside Assistance and they can get there usually within an hour, rather than having to send someone out to help you from hours away.

Also, since the vehicle is primarily for business use you will be able to write off many of the expenses that come with leasing on your income tax such as the amount of your payments, as well as distance travelled and fuel costs, assuming it’s all for business use. It is important to remember though that any travelling you do for personal use cannot be written off as a business expense and therefore it’s a good idea to buy a log book so you can record all of your business and personal trips and how many kilometers you travelled on each one, along with fuel consumption costs in the event that the IRS might do an audit on you one day down the road. You will then be able to prove that the money you claimed for your business car leasing was in fact spent on the leases expenses.

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