- Posted 21 Jun
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This type of lease is one of the most attractive to business and sole traders alike.
With an operating lease, it’s all about ‘all care and no responsibility’. You would take out this type of lease if you were looking to never own the car you are leasing.
The monthly cost is based on a number of factors, including kilometres, make, model and the term of the lease.
You will pay the monthly rental over a fixed term and once this has finished, the car is handed back t to the lender in good condition. The lender remains the sole owner of the car throughout the lease.
One of the biggest benefits of this type of finance option is that your repayments are fixed and 100% tax deductible. You don’t have to outlay in capital at the beginning and you can manage your cash flow much easier. You don’t have to worry about residual payments at the end of the lease.
An operating lease would suit you if you are using the car for business purposes, more than 50% of the time. This is especially true the more kilometres you travel, as this can reduce your monthly payments.
Operating Lease Benefits
- No capital outlay at all
- Payments are fixed over the term of the lease
- Lease payments are 100% tax deductible
- You minimise your overall risks as far as car ownership is concerned
Australian Credit and Finance has access to over 13 lenders in this area, so we can work with you to find the right price and deal that best suits your needs.
Contact us today to get access to operating lease information and quotes.