Most entrepreneurs today prefer leasing cars for business use. This might not really shock many assuming we are to go with the numerous benefits that are bound to come your way. From attractive monthly costs and ability to change cars to keeping pace with changes in the world of technology, you will not at any point regret your decision of leasing a company car.
For sure there are a few things to recall before you finally lease a company car in Singapore. And that’s what this simple guide will assist with guaranteeing you uncover today. Here’s what you should know assuming you’re to maximize corporate car rental services in Singapore.
As is with any other source of financing in Singapore, you ought to consider how the taxes will work for the lease. Regardless of whether you buy or lease a car, you are basically allowed to deduct business expenses for that vehicle rather than your personal expenses.
For individuals who might not know, there are two types of leases for tax purposes i.e. lease as rent expense and conditional sales contract. Make certain to understand what each stands for if you are to make a well-informed decision.
Aside from taxes for lease costs, it is also important to prioritize the lease term length. Shorter-term leases are definitely going to prove costly than long-term leases since the residual value will in general go down faster during the first 24 months. To take no chances, it is highly advisable that you match the lease term length to your needs and preferences.
Besides, you should negotiate a longer lease to enjoy a lower monthly payment. This action will go a long way in making sure you don’t dig further into your pockets while paying for corporate car rental services.
These are basically yet probably the most important things you really want to recollect preceding leasing a car company. Recollect the car leasing company you choose will also determine whether you’ll have a remarkable experience. Choose the wrong company and you are certainly going to regret your decision.
To avoid finding yourself in this situation, you can consider opting for commercial vehicle leasing services offered by Biz Link Rent A Car. Reach out to them today and advantage from quality-assured corporate car rental services.