What Car Leasing Benefits Are Available To You And Your Business

Car Leasing has gotten quite popular over the years for a very good reason

. People today are opting for car leasing options because vehicles today depreciate quite fast.

In fact, a new car after just three years may have depreciated by as much as fifty to seventy percent of its original cost. Therefore, people are looking more and more towards leasing so that they do not encounter such massive losses.

One of the best known benefits of leasing cars is that the cost of renting the car, compared to its depreciated value over a similar period of time is normally less than the one of buying a new car and then using it. Nonetheless, there are other well known benefits that you can get from leasing a car and these include:

Costs

When you lease a car, you are usually certain that you will be able to pay for it, since the car is paid for on a fixed monthly basis. Another great advantage of Car Leasing is that maintenance and servicing of the car is normally covered by the costs that you pay every month. Road tax too, is normally included in the lease agreement as well.

Flexibility

Every two or three years, you get a new car such that you do not ever have to work with an old car. This is in fact a common clause in most leases that people get. In addition, when you lease a car, you are able to drive a better car, because the cost of that car may be higher than the cost of the car that you wanted to buy.

Personalized

Another great benefit of leasing cars is that you do not have to lug around your car looking for the best dealership price, the lease contract saves you all that trouble. Additionally, when you lease a car, you have the freedom to use personalized plates, and you can also travel with your car abroad. Lastly, at the end of the lease, if you want, you can simply buy the car.

So, there are many benefits that a person can get from Car Leasing. Nonetheless, businesses too gain a number of benefits including:

Tax Relief

When you buy a car on lease, you can get up to a 100% relief on the lease hire payments. For example, if a business is registered it can claim back 50% of VAT on cars, and if they are commercial this increases to 100%. So, there are many tax reliefs that can be gotten from getting cars on lease.

Better Cash Flow

A businesss cash flow can increase since the hired cars do not usually appear on the balance sheet. Additionally, there are reduced costs of administration, and this means that the expenses in a business are reduced.

So, there are many benefits that a person can get from Car Leasing. They apply to both businesses and individuals, and this is why these benefits that have made car leasing more popular than ever.

by: Cynthia Lambert

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