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Submitted 2011-09-03 20:06:11
Car leases are a cost-effective and beneficial service that's worth looking into. On the other hand not everyone can accept this method of financing. Buying a car and vehicle leasing both have their own advantages and disadvantages, so you should consider your needs wisely.
Businesses, however, would profit more from having a lease car. For example most dealers do not require any down payment as is the case with buying of a car. It's also cheaper if you lease car within the warranty period, since you'll be able to save on repair costs. The costs of repair will then be shouldered by the manufacturer.
Most businesses normally would need to get a loan in order to be able to buy a car, and this in turn would be detrimental to their credit score. Lower monthly payments will likewise be another benefit for a business that chooses to lease a car. Since you're not paying for the entire car, just for its use, you will have lower fees. You will be able to save more money for other more important aspects of your business. Compared to buying a car, you also won't pay such a large upfront payment.
In case the car gets stolen or gets damaged in an accident, however, the car lease automatically pays off. This does not happen when one has acquired a loan to buy a vehicle i.e. it does not come with an automatic gap protection. The great thing about gap protection is that it can pay for the difference between the actual market price of the car and the amount of money still to be paid in the lease. People usually don't realize that when they get a loan in order to buy a car and the car is stolen or gets in an accident, they still have to pay the rest of the money owed to the finance company, although the car is insured.
You can make good use of the money you saved in leasing a car as opposed to buying by making good investments with the money. You can funnel these funds into more important aspects of your business or company, or you can choose to buy stocks or mutual funds. One more great thing that comes out of vehicle leasing is that the lease is transferrable. You can save a lot by doing this instead of getting a new lease or buying a car. By doing this, you can save time and you can also save money since you won't need to pay for certain fees. Actually this practice is so popular that a lot of dealers charge a relatively small fee to facilitate transfers. In most cases the taxes paid for lease car are spread over a longer period of time compare to the bulk that is paid when one buys a vehicle. Other factors kept constant leasing are a good option.
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By: Dirik Hameed
Car leases are a cost-effective and beneficial service that's worth looking into. On the other hand not everyone can accept this method of financing. Buying a car and vehicle leasing both have their own advantages and disadvantages, so you should consider your needs wisely.
Businesses, however, would profit more from having a lease car. For example most dealers do not require any down payment as is the case with buying of a car. It's also cheaper if you lease car within the warranty period, since you'll be able to save on repair costs. The costs of repair will then be shouldered by the manufacturer.
Most businesses normally would need to get a loan in order to be able to buy a car, and this in turn would be detrimental to their credit score. Lower monthly payments will likewise be another benefit for a business that chooses to lease a car. Since you're not paying for the entire car, just for its use, you will have lower fees. You will be able to save more money for other more important aspects of your business. Compared to buying a car, you also won't pay such a large upfront payment.
In case the car gets stolen or gets damaged in an accident, however, the car lease automatically pays off. This does not happen when one has acquired a loan to buy a vehicle i.e. it does not come with an automatic gap protection. The great thing about gap protection is that it can pay for the difference between the actual market price of the car and the amount of money still to be paid in the lease. People usually don't realize that when they get a loan in order to buy a car and the car is stolen or gets in an accident, they still have to pay the rest of the money owed to the finance company, although the car is insured.
You can make good use of the money you saved in leasing a car as opposed to buying by making good investments with the money. You can funnel these funds into more important aspects of your business or company, or you can choose to buy stocks or mutual funds. One more great thing that comes out of vehicle leasing is that the lease is transferrable. You can save a lot by doing this instead of getting a new lease or buying a car. By doing this, you can save time and you can also save money since you won't need to pay for certain fees. Actually this practice is so popular that a lot of dealers charge a relatively small fee to facilitate transfers. In most cases the taxes paid for lease car are spread over a longer period of time compare to the bulk that is paid when one buys a vehicle. Other factors kept constant leasing are a good option.
Author Resource:->??Read about the possible financial benefits of choosing a lease car with help from LeasingOptions - Can vehicle leasing be worthwhile for your business?
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