A Finance Lease is a fixed monthly rental payment, over an agreed lease term.
You have the choice of a 'zero residual value' or 'agreed residual value' at the end of the lease. A 'zero residual value' will mean you pay more on a monthly basis, but have no balance to pay at the end. An 'agreed residual value' will lower your monthly rental but will require you to pay the agreed residual value at the end of the lease term.
FleetPartners maintain ownership of the vehicle over the lease term and until all payments have been made ie. either the last monthly rental ('zero residual value' agreement) or the outstanding balance ('agreed residual value'). On receipt of the final payment FleetPartners will transfer ownership of the vehicle to the lessee.
Benefits of Finance Lease:
- Ownership - take ownership of the vehicle at the end of the lease term
- Simple application – one application can cover all your vehicle requirements.
- Keep credit lines free – access another source of funds keeping your businesses credit lines free for future opportunities/emergencies.
- Access discounts from FleetPartners purchasing power
– you’ll benefit from our vehicle expertise and purchasing
power. We’ll find the right vehicles for you and you’ll
be free to focus on your business.
- Access your working capital – finance your fleet operating
requirements with FleetPartners and free up your business’s
working capital for more effective use.
- Tax-effective – lease payments may be fully tax deductable,
check with your financial advisor about how a finance lease
may effect your tax situation.
- Cashflow – no deposit or advance rentals required,
fixed monthly instalments for ease of forecasting.
- Only pay for what you use – select a balloon payment
that reflects usage and manage cash flows as a result.