A Truck Leasing enables a business to have the use of a commercial vehicle and the benefits of ownership, while the financier retains actual ownership of the vehicle. The financier purchases the vehicle on behalf of the customer, who then leases the vehicle back from the financier and pays a fixed monthly lease rental for the term of the lease.
At the end of the lease, the customer can either pay a residual value (final installment) on the lease and take ownership of the car OR trade it in or re-finance the residual. Flexible contract terms range from two to five years.
The benefits of a truck Lease are:
1. Fixed interest rate
2. Fixed monthly lease rentals
3. Costs are known in advance
4. A residual can be applied to a lease, lowering monthly payments
5. Tax deductions are available when the vehicle is used for business purposes (refer to your accountant)As the GST contained in the car’s purchase price is claimed back by the financier, only the vehicle’s price exclusive of GST is financed, lowering monthly payments
6. Ability to make advance lease payments for a tax deduction or cash-flow purposes
7.The lease is secured against the vehicle, allowing lower interest rates
Truck Leasing is suitable for companies, partnerships, sole traders and individuals where the leased vehicle is used for income-producing purposes. It is also ideal for employees who want to salary sacrifice a vehicle through a Novated Lease as part of their remuneration.
Contact us now, so that we can help you get the finance you deserve.