Dissimilar to what many think, motor vehicle leasing is obtainable to the public as well as businesses. Most people or businesses thinking of taking out a motor vehicle lease or vehicle leasing agreement, will most likely end up going down the contract hire lease path (often called ?personal contract hire lease? where individuals are concerned).
Not only does contract hire car leasing allow the lease customer to profit from having the vehicle taken back on the end of the lease interval, instead of being saddled with a depreciating asset, it may possibly also provide a tax-saving option to individual company vehicle drivers.
?Contract purchase?, on the other hand (referred to as ?private contract purchase? for non-business customers) can provide the lease customer with the option of buying the motor vehicle, as soon as the lease interval is over, at a price agreed on the outset of the lease agreement. In some circumstances, the lease customer will benefit should the real worth of the motor vehicle at the end of the lease period be higher than the value initially anticipated in the beginning of the lease.
However, for businesses, there are two other kinds of vehicle leasing: ?lease purchase?, whereby the company commits to purchasing the car at the finish of the lease interval, and ?finance lease? where the vehicle is sold at the finish of the lease period, in order that the leasing firm recovers the total acquisition value of the car, with any balance from the sale going to the business.
For small companies, credit will probably be hard to come by, even with a promising financial plan or verifiable commercial success. On the subject of securing vans however, acquiring credit is something the sensible business-person doesn?t have to worry about.
Van leasing permits a small business to enjoy long-term access to the newest makes and models of vans, without having to satisfy the strict criteria needed for a financial advance from a bank.
Van leasing works on the idea of accessing one?s personal choice of van in return for a standard month-to-month fee to a leasing company. Van leasing costs are usually less expensive than the equivalent month-to-month payments for a finance purchase settlement or loan, simply because they are based mostly on the amount by which every van depreciates during the lease interval, rather than on a van?s purchase price.
Depending on the needs of the company, van leasing can involve: a return of the vans to the lease company at the finish of the two to four year lease interval, the option to purchase the vans once the lease period is over, or the facility for the lease firm and the business to sell the automobiles on the finish of the lease cycle, with the business benefitting from any returns over and above the balance of the original acquisition prices.
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