Are you choosing between commercial fleet leasing companies and purchasing a commercial fleet for your business? To make the best decision that will benefit your business, we have explored the benefits of both options to make your decision easier.
Leasing a Commercial Fleet Vehicle
Leasing a commercial is similar to renting a vehicle. A lease is an affordable option compared to buying. If you choose to lease a commercial fleet vehicle, you will only have it until the lease expires and then will return the vehicle. You will have the option to purchase the vehicle at the end of the lease period.
Additional benefits to choosing a lease for your commercial sleet vehicle include:
- Access to newer vehicles and upgrades
- Lower administration costs and fees
- Latest safety features
- Predictable maintenance and repair costs
There are different types of options available with varying flexibilities. They include:
- Open-End Lease: A shorter lease term with the option to extend it on a monthly basis once the lease term expires. You will be responsible for the value of the vehicle.
- Closed-End Lease: A fixed lease term with pre-determined monthly payments. You are not committed to purchasing the vehicle once the lease expires.
Purchasing a Commercial Fleet Vehicle
If you choose to finance or purchase a commercial fleet vehicle, this usually requires a loan, but once it is paid off, you will own the vehicle. Although purchasing may seem like an expensive option, there are no additional payments to consider for the future compared to leasing. There are no mileage limitations or restrictions.
Additional benefits to purchasing a commercial fleet vehicle include the following:
- Tax benefits
- Pricing leverage
- Control over the depreciation of vehicles
- Reinvesting opportunities
Visit Bayshore Ford to Learn About Out Commercial Fleet Vehicle Options
If you’re looking for a commercial fleet for your business, visit Bayshore Ford. While on your visit, we will review your Ford financing options in order for you to leave with your new commercial fleet vehicle on the same day. One of our expert dealers will be happy to help you today!
