Leasing car is evolving as great idea for business as well for those who want to drive without actually buying the car. One has to pay the rent amount and can drive the car for the deal period. For a working professional there are two options to get a lease car, either through company lease or personal lease. The former option seems more convincing than the later, although each has its own advantages and disadvantages.
Choosing between the two is not just a small dilemma but also a major business decision which needs to be considered from variety of angles. In case of company car leasing, the ownership along with all the responsibility stays with the leasing firm. The business rationales of different firms are different which changes from time to time with changes in tax laws. The same also applies to someone planning to lease vehicles, especially for the companies who lease the cars for directors or CEO.
The company car leasing has several benefits compare to personal car leasing. The most important one is mileage flexibility which is generally not restricted in case of company car lease contracts unlike personal car leasing contract where the value is normally preset. Different firms provide different business plans and offers. While buying one must look in details in to the contract offers and conditions to ensure that their own requirements are fulfilled. One has to enquire everything in details and choose only the necessary offers. As a case, say the firms give you an option whether or not to include maintain services in the contracts. In this case it would be wise not to include the above offer in the contracts as the vehicles are new and maintains is not a big issue for new wheelers. This freedom from maintains jobs is also great relief for firms as and the cars are new and under warranty cover.
Leasing vehicles is a great advantage for the company as it doesn’t need to carry its deprecation in their account book. Once the term of lease is over, business should not blindly renew the lease again. Before taking a new lease many points need to be considered including the past experience with contract offers and financial issues. If satisfied, the company may like to obtain the vehicle fully to become the owner or get another term of contract. Before taking a second lease it is always advisable to look for new firm and compare their offers with the past one. As the lease market is always competitive and the firms change their plans frequently.
There are several factors must consider before making a deal. Although car leasing is not a difficult job, but with good understanding of tax rule, contract offers, and a comparative survey among the different leasing firms, the company can enjoy the maximum benefits out of car leases.
If you have been hunting for a car leasing company in UK, opt for Leasing4Business. It is an established company in this niche with client friendly leasing options and strategies.