True. Consumer leases through dealerships are typically three years.
Fleet leasing is NOT consumer leasing. Fleet leasing is a financial alternative with a built-in exit strategy. Fleet leases are typically three to five years and are customized based on how you intend to use the vehicles. At the end of the lease, companies have the option to buy the vehicle, extend the lease, or turn in the vehicle. If your business buys the vehicles at the end of the lease, total cost is almost identical to buying, but the tax benefits and lower monthly payments are superior with fleet leasing.
Leasing provides a long-term fleet management system that compels fleets to evaluate each vehicle regularly. Leasing provides lower payments and allows business to grow faster. In addition, fleet management companies receive larger rebates that reduce the cost of each vehicle vs. buying.
Leasing is a perfect option to finance business vehicles even if you intend to operate your fleet vehicles for many years.
Watch the following video to learn more.
