Leasing – Why Lease?
Every driver needs a reliable vehicle for personal or business use. But for many households or businesses, the cost of buying can mean they have to compromise on their first choice of car or van. Add in the pitfalls of expensive maintenance and value depreciation and purchasing a new vehicle becomes a less appealing option. However help is at hand in the form of a contract hire agreement from 1st Choice Vehicle Finance, because the flexibility of leasing can help you to have the vehicle you want at a price you can afford.
Choosing a contract hire vehicle over a new purchase can offer a number of benefits to the personal or business user. In the current economic climate it is important to be able to keep tabs on all of your finances. With a fixed monthly payment, drivers and fleet managers can easily budget for their vehicle needs today, tomorrow or next year, without the worry of costly vehicle depreciation or the hassle of disposing of the vehicle when it no longer suits their needs – simply select contract term that fits your needs, enjoy all the benefits of a new vehicle during that time, and return the vehicle when the contract ends.
And while owner drivers can often be hit hard by additional upkeep costs, our range of maintenance options allows 1st Choice Vehicle Finance customers to plan for the unexpected and spread the cost of servicing to better suit their budget.
Businesses can also reap the benefits of a vehicle leasing agreement. Contract hire allows companies to provide new and reliable vehicles for their employees’ use meaning that operations are less likely to be disrupted by vehicle issues, while an up to date fleet helps to cement the image of your business as a reputable and trustworthy enterprise.
Leasing a business vehicle from 1st Choice Vehicle Finance also makes good financial sense for businesses as the monthly rentals are classified as a business expense and not a debt as a vehicle loan might be, meaning that all rentals are between 85% and 100% (dependent on CO2 emissions) allowable against taxable profits – offering a potential saving of up to 40% over the term of the lease (dependent on tax bands). As always, each business is different and should independently clarify their tax position prior to entering into a lease commitment.
All in all, leasing a car or van for your business needs or personal use can offer a great range of benefits. From the relief of a sense of financial security that comes with knowing what your vehicle costs will be each month, to a level of freedom of choice and flexibility that might not be achievable by buying.
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