Lease Secrets

Lease Secrets

 

  1. Be careful. The lease payment is only part of the deal. The services included can vary.
  2. Always include maintenance you will have to pay for it anyway and may get stuck paying for unexpected repair bills after the factory warrantee expires.
  3. It is important that all maintenance be performed at authorized dealerships. Some lease companies service the cars themselves even though they may lack the expertise or special tools and diagnostics.
  4. Be leery of very low lease end purchase options. You may be paying a lot extra during the lease and end up with a car that may not be an easy resell.
  5. Avoid Operational Lease contracts that include a fluctuating lease payment based on the fluctuation of interest rates. Operational Lease Contracts are actually rental contracts not loan contracts; therefore there should not be any reference made to interest rates.
  6. If you want to lease a passenger car for your business the only way to ensure the maximum tax benefit, is through rental (Operational Leasing). Some tax authorities and accountants seem to confuse the different types of leases. Refer to the clarification document - reference # 1005 / 2005 of the Ministry of Finance
  7. If you need to get out of you lease contract before the end of the lease term, you can avoid costly penalty surcharges via our Leaseswap service.