Obtaining a finance lease is a sensible and affordable approach for any business or individual if the vehicle is used predominantly for business purposes. A finance lease gives you immediate use of the vehicle without having to arrange a large deposit. Rentals are fixed for the term of the lease, providing security for your financial planning without straining your income. For added flexibility at the end of the term you have the option to refinance, sell or purchase the vehicle for the residual value.
What is a finance lease?
Benefits of a finance lease
- Where the vehicle is used for business purposes, the lease rental will be tax deductible. It is important to note that the extent of the tax deduction will depend on the percentage of business use compared to the percentage of private use.
- Lease payment is made from pre-tax income.
- Fixed lease payments make monetary budgeting easier.
- Monthly payments are based on the original cost less the residual value of the vehicle.
- Terms are from 12 months up to 60 months to meet your individual financial requirements.
- No or little capital outlay.
What can you finance with a finance lease?
Different vehicles benefit from different types of finance. Make sure you speak to one of Fingo’s leasing specialists to find out what option best suits your needs.
Fingo takes the hassle and stressful steps of obtaining a lease out of the process, so once provided with the necessary information, we’ll get the wheels turning and co-operatively complete the application process, and order your desired vehicle.