Should My Business Have Corporate Cars?

If you rely on a vehicle fleet for carrying out your corporate activity, you have two options for getting the vehicles that you need: you can buy them or you can lease them. Each option comes with its own benefits, so here are a few aspects to bear mind before making any decision related to fleet ownership.
capital expenditure fleet vehicles
Capital-related Aspects
Buying the vehicles for your fleet is a huge investment that will give you ownership rights, but will also require you to handle tax issues, insurances, repair and maintenance issues. If you decide to lease the vehicles, you will have to pay a much smaller sum. The titles for the leased vehicles will not be transferred to your company, but you will not need to handle taxes, insurances, repair and maintenance costs either, what’s more, you will be able to renew your entire vehicle fleet when the lease period is over. You can look at cost effective Denver CO commercial fleet financing to see cost consideration benefits of both buying and leasing.
Downtime
When buying their fleet, most companies look for used vehicles to reduce the investment. Used cars need more attention and they break down more frequently – an issue that does not exist with leased cars. If you decide to lease your vehicle fleet, you will have access to new cars and the latest models that offer superior fuel-efficiency and spend much less time in the mechanic’s garage.

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