Vehicle Leasing FAQ’s
- Why should my company lease?
- There are a number of reasons to consider leasing your vehicles – Affordable monthly payments…Potential tax benefits…Maintaining present lines of credit…Retention of company cash…Ease of acquisition…
- Are there different types of leases?
- Yes… Each of the Capital Lease Group leases is designed and tailored to fit the needs of each individual company. Leasing considerations are Walk-A-Way, Equity, Seasonal, Annual Payment, Single Payment, etc…
- Is leasing a better alternative than purchasing?
- Each company has a different situation. In some cases, purchasing may be the better alternative, but without analyzing the goals of the company, it would be difficult to say. 80% of U.S. Companies utilize leasing as a way to acquire their company vehicles.
- I’ve heard there is an excess mileage charge and wear and tear charge at lease end. Is that true?
- Consumer/Retail/Dealership Leases can have higher excess mileage charges on the back end.
- It would depend on the type of lease entered into. However, at Capital Lease Group we have a variety of commercial leases designed to not allow end of lease surprises
- What if I have to cancel my lease… will I be able to?
- Absolutely. All Capital Lease Group leases are designed to be able to be cancelled after an initial period of 12 months.
- If I decide to buy my vehicle after the lease is over, will I be able to?
- What will I pay for my vehicle at the end of the lease?
- It will depend on the kind of lease entered into. Capital Lease Group offers leases that have a guaranteed payoff, fair market value, $1.00 buy or whatever is the best alternative for your company.
- I just purchased some vehicles. Could you buy them and lease them back to me?
- Absolutely… Purchase/Leasebacks add revenue to a company’s bottom line as well as create open lines of credit for business expansion and improve cash flow. The lease can even be structured to keep it off your balance sheet.
- I’ve been told it is necessary to also purchase additional services with a lease. Is this true?
- Definitely not… However, Capital Lease Group does offer many additional services from Full Loaner Vehicles to Rentals to Maintenance to Insurance Protection, if it is requested.
- My company has vehicles all across the country. Is that a problem to handle?
- Not at all. Our home office is located in Massachusetts, but we handle vehicles all across the country.
- If I lease with you, how do I dispose of our current vehicles?
- We have a remarketing department that will handle all disposals and use any equity as a cap cost reduction or send you back a check for any equity available.
- What vehicle manufacturers do you deal with?
- Capital Lease Group is not tied down to one manufacturer. We work with all domestic as well as foreign nameplates. We are a one-stop-shop, and as an independent lessor, we are free to offer the solution that works best for your company.
- I purchase other equipment besides vehicles. Can I lease it as well?
- Yes… Capital Lease Group has financial arms that reach out to all sectors for the purpose of leasing your other equipment.
- Who is responsible for Insurance on the vehicle?
- Insurance is the responsibility of the end user. However, Capital Lease Group would be able to insure your vehicles through our in house managed Insurance program if requested.
- How is registering a leased vehicle handled?
- Capital Lease Group will make sure your vehicle is registered and plated. Some states may require the drivers involvement, but you would be notified in advance in such cases.
- Is there a warranty on a leased vehicle?
- Yes… The same warranty that would apply if the vehicle was purchased from a dealership.
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