A decision that can be equal parts polarizing and frustrating, but all-around important, is whether to go the route of leasing or financing your company fleet. While financing vehicles was the most popular (and traditionally acceptable) option for a long while, fleet leasing can frequently prove to be a more intelligent option to meet your business needs.
A Few Reasons Why Fleet Leasing Can Be Smarter
- Leasing is lower risk than financing. Because financing brings with it unpredictable and frequently-fluctuating interest rates, leasing can be a more appealing option.
- Leasing is generally less costly than financing. The lack of additional costs from commissions, warranties, and upgrades make leasing a more wallet-friendly option than financing.
- Leasing provides more flexibility than financing. Be it through open-end or closed-end leases or minimizing future costs of wear and tear, leasing provides more flexibility to you and your growing business than financing.
For even more to help you make an informed decision, learn the pros and cons of fleet leasing and fleet financing.