For a small business owner, a commercial vehicle is a necessary expense. But why purchase one outright when you have the option to lease instead? By leasing a new commercial vehicle, you can save big on upfront costs that allow you to preserve cash flow and manage your payments. Here at Nelson Toyota, we have an exceptional track record of providing a variety of flexible and affordable leasing options that can be of greater service to you and your business. Read on to learn more about the advantageous reasons for leasing your next vehicle for your small business.
Lower rates and taxes. When you lease a commercial vehicle, you only pay monthly for the period of your leasing contract, which tends to be significantly lower than a loan or down payment for the same car and term. You also only pay upfront taxes on the monthly payment instead of the entire value of the vehicle. Moreover, when you lease a commercial vehicle, the percentage that you use the car for business is tax-deductible. If you plan to use this vehicle entirely for business purposes, then you can deduct 100% of what you paid, which can be a massive benefit come tax season!
Get the car you really want. With lower monthly payments, you can lease a new vehicle at far less than the finance payment on a used vehicle. With leasing, your company can also take advantage of tech, safety, and fuel economy upgrades. When you buy a car, you are stuck with that year's technology for about seven years (on average). With leases, you can upgrade every 2 to 4 years to a better performing, safer, and more economical car.
Less maintenance. If the term of your lease happens to be within Toyota’s manufacturer warranty, any potential repairs you require will be covered! Leases also always include Gap Protection in the case that your vehicle is damaged beyond repair. In this case, you will be covered for the difference between what you owe on the lease and the amount of your insurance settlement.
Flexible lease-end options. Rather than having to deal with the hassle of selling your vehicle when your business has outgrown it, you can return the car to us within the lease terms and without any acquisition or disposal fees. You also have the option to purchase the vehicle at the Lease End Value indicated in your contract, or to lease or finance another Toyota vehicle.
At Nelson Toyota, we offer competitive rates and flexible terms for leasing new commercial vehicles. Our lease agreements are clear and transparent and guarantee the lease-end value on whatever vehicle you choose! Interested in learning more about our convenient leasing options? Chat with one of our helpful leasing agents today!