What Are the Benefits of Leasing a Vehicle?

Introduction• When you lease a vehicle, the leasing company actually owns

the vehicle and you make monthly payments in order to keep driving it.

• In contrast, when you buy a vehicle, you own it or more often than not the lender or finance company owns it while you make your car payments.

• Many people associate leasing cars with businesses, but leasing offers benefits to more than just a business owner.

Personal Benefits• According to Cars.com, one of the main personal benefits of

leasing a vehicle is being able to drive a new or late model car all the time. If you are into cars or just like to be behind of the wheel of the newer models as they come out, leasing is more practical than buying. You’ll also get the latest technologies when you choose to visit leasing companies when you get your new vehicles.

Personal Benefits• You might also be able to lease a vehicle for less than you’d

pay in monthly car payments. When you lease you’re paying for the depreciation of the car, and not the entire vehicle.

• This allows you to use your money for other things besides an investment that’s going to depreciate in value every year you own it.

• Many car lessees find this very impractical and avoid ownership at all costs.

Personal Benefits• Quest Automotive Leasing Service in Toronto says that you can

realize further savings if the leasing company purchases the vehicle you want wholesale and then leases it back to you.

• This will help you get the best possible lease price, and the car you want to drive.

Commercial Benefits• Even though there is more to leasing vehicles than leading to

businesses, it is still a big part of the overall equation. And just like personal drivers, there are many commercial benefits to leasing a vehicle instead of buying.

• If a private lessee doesn’t want to spend money on a depreciating asset, a business owner definitely doesn’t want to do it.

• Most businesses only have so much capital to work with, and spending it on something that is guaranteed to go down in value just doesn’t make good business sense.

Commercial Benefits• Whether you need vehicles for traveling salespeople or service

technicians, leasing will solve many of the problems that the typical business faces with owning company vehicles.

• Just like with private lessees, improved cash flow is probably the greatest benefit for most businesses. Most leasing companies offer leases with lower monthly payments than a car loan and there is no down payment.

• By saving that money you can re-invest it into different areas like training, marketing or renovations.

Commercial Benefits• Some of the other commercial benefits of leasing include:• Lower fleet administration expenses• Improved bonding ability• Ability to expense monthly lease payments• Greater budgeting accuracy• Professional services provided by leasing companies• No need to dispose of vehicles when they’ve served their

purpose

Leasing Companies• As with most types of business in most industries, not all

leasing companies are created equal. Many different companies and dealerships lease cars and trucks, but not all will be able to provide you with a vehicle and a deal that’s really best for your situation.

Leasing Companies• Here are a few tips from Quest Automotive Leasing Service to

help you find just the right place.• Look for Experience – Vehicle leasing companies that have been

around and in operation for some time will have the resources and experience to get you the best deal possible. A company with experience has seen it all before and knows how to provide you with the best lease for your specific needs.

• Many Options – It’s always nice to see a wide range of vehicle options available when you chose leasing companies. More options means you’ll have a higher likelihood of finding what you want, and a higher likelihood of coming back in the future to lease again.

Leasing Companies• Flexible Terms – In order for a range of different customers to

have their needs met, it’s important that leasing companies have flexible lease terms. Providing you with options instead of a rigid term will make for a satisfied customer in the end.

• Great Customer Service – Look for a leasing company that answers all of your questions, provides you with solutions for all the ‘what ifs’ and takes care of the car it experiences any mechanical problems along the way.