Car Lease
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Car Lease

A Car Lease or a Finance Lease is a car rental agreement, which enables the borrower to have the use of a car or commercial vehicle and the benefits of ownership, while the lender retains actual ownership of the vehicle. The borrower is required to make fixed monthly repayments to the lender for the duration of the lease contract.

Depending on the lease, the borrower may either take ownership of the motor vehicle, trade the car in, or re-finance the residual/balloon and continue the lease.

There are a number of car lease types. The lease that is most suitable to your circumstances should be considered in conjunction with your accountant or financial advisor.

Why consider a Car Lease?

  • Flexible contract terms from 2 to 5 years
  • Repayment stability as interest rates fixed for term of contract.
  • Costs are known in advance
  • Can apply a residual to reduce monthly payments
  • Tax deductions are available when the vehicle is used for business purposes
  • As the GST contained in the car's purchase price is claimed back by the financier, only the vehicle's price exclusive of GST is financed, lowering monthly payments
  • Advanced payments can be made if required for tax or cash flow reasons.
  • The lease is a secured form of finance, hence interest rates are cheaper





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