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LEASE

FOR BUSINESS USE

Overview

  • Suits business use

  • Loan terms generally 1 - 5 years

  • Lender purchases the item and customer leases it back over a set term

  • Secured basis

A Car Lease or Finance Lease is a commercial finance product which enables the customer to have the use of a car or 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 final instalment on the lease and take ownership of the car, trade it in or re-finance the residual and continue the lease.

Benefits include

  • Flexible contract terms ranging from 12 to 60 months 

  • Fixed monthly lease rentals

  • A residual can be applied to a lease, lowering monthly payments

  • Tax deductions are available when the vehicle is used for business purposes

  • Ability to make advance lease payments for tax deduction or cash-flow purposes

A Lease is suitable for business entities, sole traders & paid employee's when the item is for business use. 

Lease payments only can be claimed if the item is used for business purposes. Check with your accountant to determine if the product is right for you.