Facts about commercial vehicle leasing

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Facts about commercial vehicle leasing

There are many advantages of leasing commercial vehicles for your business. At Pfaff Leasing, our commercial leasing agents can assist you with finding a vehicle fleet, or a single company car. If you are considering leasing your business vehicles and you are looking for facts about commercial leasing, then you have come to the right place at Pfaff Leasing. In this article, we answer some common questions about commercial vehicle leasing. 

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Who owns the car?

The dealership or leasing agency owns the vehicle. A lease is more like an extended rental period; once the period is over, the car is returned. You can also purchase the vehicle outright after the lease.

What are the upfront costs?

Upfront can include a down payment, a security deposit, an acquisition fee, the first month’s payment, and other taxes and fees.

How large are the payments?

Since you aren’t paying for the car itself, your payments will be smaller unless you lease a more expensive car. Lenders charge interest as well as fees for vehicle depreciation and mileage, should you go over your yearly limit.

Do I need to worry about maintenance?

Yes. Beyond regular maintenance, you’ll need to pay for any excessive wear and tear that happens to the car during the lease period.

What happens at the end of the lease term?

If you have an open-end lease, you must purchase the car. If you opted for a closed-end lease, you can walk away from the term and either buy or lease a different vehicle.

These are just a few facts about leasing commercial vehicles, and leasing vehicles as a whole. For more information about commercial leasing with Pfaff Leasing, we encourage you to get in touch with our team today.

Click here to find or contact information or speak with a Pfaff Leasing representative.