Leasing a car for your small business

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Leasing a car for your small business

You need vehicles for business use. But you might consider buying or leasing one through your company rather than as an individual. Basically, this just means your business is officially named as the owner or lessee of the vehicle. Overall, the process of buying or leasing a vehicle through your business looks fairly similar to buying or leasing a vehicle as an individual. But you still need to find a leasing company. And select a model that works for your specific needs and secure financing. For those self-employed individuals, or someone running a small business that needs a single work vehicle or fleet of work vehicles, Pfaff Leasing his here to help. With locations in Vancouver, Calgary, Montreal, and Toronto, Pfaff Leasing can get you and your business outfitted with business vehicles that suit your needs. In this blog, we share some information about leasing a car for your small business. 

Always consider customized solutions

The type of vehicle or vehicles that you choose can vary widely depending on your specific needs. If you’re just looking for a simple passenger vehicle, then this part of the process may be fairly similar to buying or leasing a car for personal use. You could simply find an in-stock option and then work with the leasing company to fine-tune the details. However, for businesses that need fleet vehicles, heavy-duty options, or cars with very specific features, you might instead work with a leasing company to create a customized solution. To do this, you’ll first need to have a very clear idea of what your needs are. You may also have better luck getting the ideal vehicle if you give yourself some time to shop around and work with a Pfaff Leasing on customization options, rather than desperately searching for something that you can drive off the lot in a single day. Additionally, with that, maybe you want to lease a sports car to add some flare to your image when you show up to business meetings.

Choose if you want to buy or lease your vehicle(s)

Businesses have the option of either buying or leasing certain commercial vehicles. When you buy, you often make slightly higher payments. But they go toward paying off the vehicle. So once you’ve paid it off, you own the vehicle outright and it becomes an asset for your business. When you lease, you don’t ever actually own the vehicle. You simply make payments through a period, usually of about three years. Then you turn the car in at the end of that period or have the option to purchase it. The payments are often a bit lower for leases, but there are also mileage and availability considerations to make. You simply have to evaluate your business’s situation and what your exact vehicle needs are to determine which one is a better fit.

Why lease a car(s) for your small business with Pfaff Leasing?

At Pfaff Leasing, we’re committed to helping you source the personal or business vehicle you want or need, be it a luxury, exotic, or vintage car, or commercial vehicle. If you own a small or medium-sized business, we have the knowledge and the flexibility to equip your business with the vehicles you need, when you need them, and make the process easier and more seamless than working with a bank or credit line. One point of contact keeps the process simple, fast, and painless, and our vast network of automotive contacts and experience means you’ll get the best deal.

For more information about why you should lease a car for your small business with Pfaff Leasing, we encourage you to continue browsing through our website. Click here to find our contact information or speak with a representative.