Car Lease Sunshine Coast
Sunshine Coast Car Leasing, Financial Car Lease Sunshine Coast
Lease products fall into two (2) categories as either a finance lease or operating lease. They differ in the way they treat ownership, disposal and residual risk on the vehicle. Commercial Hire purchase options are available and function in a similar fashion to a loan to purchase an asset.
In order to decide on the most appropriate type of finance you first need to consider the following:-
- Do you wish to own the asset at the end of the lease period?
- Do you use the asset for business purposes more than 50% of the time?
- Are you looking to finance the vehicle only, or do you also want a range of fleet management services?
- How long do you intend to keep the vehicle and how many kilometres will you travel?
- Do you want or need to show the asset on the company balance sheet?
A finance lease (e.g. finance lease car) is a form of rental agreement under which you lease an asset for an agreed period and rental. A residual value is set up front to reflect the asset’s value at the end of the term. This accounted for on the balance sheet.
Under the conditions of most finance leases, you have no option or right to purchase the asset. However, it is common practice that most financiers will consider an offer from you to purchase the asset at the end of the term for the residual value. Alternatively, you may trade it in for a replacement, return it to the financier paying the difference between the residual and market value (residual risk) or even extend the lease for a further term.
A fully maintained operating lease offers an organisation the benefits of a hassle free method of vehicle usage. It is finance not shown on the balance sheet and in one monthly payment takes care of all costs associated with the vehicle i.e., all costs in relation to maintenance, insurance, finance are included. Once you decide on the motor vehicle required you simply decide on the length of the lease required and calculate how many kilometres you will travel in each year. Based on this the financier will calculate a monthly repayment. At the end of the lease term, you hand the vehicle back to the lender with no residuals or balloon payments required.
- Flexible payment options
- Less Paperwork
- Low and Reasonable Loan payment amount
- Negotiable on rates and repayment tenure
Loan Wize Car Loans Sunshine Coast can provide you with a free leasing assessment either it’s for car leasing, financial lease or an operational lease. This assessment will determine the lease that suits your needs best.