Finance leasing may suit those looking for equity in the vehicles, and longer lease terms.
Under a finance lease, vehicles are purchased by the lessor on behalf of the lessee, your business.
Your business pays monthly instalments, or rental payments, that go towards the car.
You pay out the residual value of the vehicle at the end of the lease.
What is a finance lease
You have flexibility when the term of the lease is up. You can choose to:
- Purchase the vehicle by paying the final instalment and balloon payment
- Trade the vehicle for a new one
- Refinance the residual value and continue to lease that vehicle
The benefits of this type of lease may include:
- Low or no deposit terms, in some cases
- Payments may be completely tax-deductible (depending on the tax status and circumstances of your business)
- Bundle vehicle services in your lease payments
- The option to purchase the car at the end of the lease
Benefits of finance leases
Ask us about finance leases