You want what is best for your business. And because of this, you will always be faced with tough decisions, whether it be which candidates to employ, which kind of philosophy to bring to your business or how much to embrace new eco approaches in your company. An important financial decision is whether to lease or buy your equipment. Of course, there are benefits to each approach. But if your business operates with the help of commercial vehicles, then seeking commercial vehicle finance is probably the best approach to take. Here’s why.
Understanding the Difference
Many established businesses will shy away from the notion of leasing a commercial vehicle without fully understanding the benefits that distinguish a commercial lease from a personal one. For example, the vast majority of personal leases are in fact close-ended, meaning that there is a limitation on the distance one can drive and the amount of wear that the vehicle can take. The world of business though is not always predictable, and limitations such as these will not give your business the flexibility it needs. Commercial leases from established commercial vehicle finance companies however, will allow your company to utilise the vehicle however you like, for however long you like and without any penalties at the end of the lease. This will give your business full freedom and adaptability. And in many cases, you won’t even be required to pay any money up front, which can work in the favour of businesses that are just starting out.
Show Me the Money
Some commercial vehicle financing companies will actually offer you cash incentives in exchange for your business. Admittedly, this is simply a certain amount of cash back on your investment, but in some cases the amount can be a significant percentage of the initial leasing cost. Particularly if you are not wanting to lease the vehicle or vehicles for an extended period, a commercial vehicle financing plan – with a significant price reduction – clearly represents much better value for money than the traditional ‘buy outright’ approach.
A Better Approach for Your Business?
Clearly there are advantages in both buying and leasing a commercial vehicle for your business, and the method you choose depends entirely on your specific needs. But if you are looking for relatively short-term use of a commercial vehicle, then leasing is a absolute no brainer.