Daily Job Search Advice | Career Advancement Tips | Informative Articles on Life Lessons And much more...
Commercial Leasing is sponsored by LawCrossing, America's top legal job site.
Various methods of using a car for extended periods exist, of which a recently introduced method called commercial lease is becoming very popular. This method allows one to use a commercial lease vehicle with the option of not owning it at the end of the lease period. Thus, in this scenario, you can hire a commercial vehicle for a fixed amount of time and after the expiry of this period, you have the option not to own it after the expiry of the hire period. Therefore, during the hire period, you get all the benefits of owning a vehicle while the actual ownership rests in the hands of the hiring-out party.
Under this process, you as the customer leases out the vehicle from the financier after agreeing on a fixed sum of money, which you pay in monthly installments. At the expiry of the leave, you may become the rightful owner of the vehicle after payment of the final installment or the agreed amount, or extend the lease and continue to pay additional installments.
There are both advantages as well as disadvantages of going in for a commercial lease vehicle. A major advantage is that lower start-up capital is needed for this purpose. parental guidance Yet another benefit is that this type of lease requires fixed monthly costs which you can plan in advance. Also, there are tax benefits that you can claim in case the leased commercial vehicle is used exclusively for commercial purposes. Companies and sole traders can qualify for commercial lease vehicle. Also, if you are an employee, you could qualify for this lease so that you do not end up burdening your career.
Additionally, you can certainly benefit from a commercial lease vehicle by way of depreciation, since it would be figured into your lease agreement. This is really beneficial because you know right at the beginning of the lease how much your vehicle will be priced at the end of the lease. A�Once your commercial lease vehicle comes to the end of the lease period, you have the option of upgrade to a newer model every few years. There is no need of haggling with the car dealership for a trade in or a buy back price.Google+
Commercial Leasing is sponsored by LawCrossing,America's leading legal job site dedicated to getting jobs for legal professionals.