Put simply, it’s a lease agreement where you pay a monthly rental for a vehicle. You can either sell the vehicle at the end of the agreement, and any sales proceeds are returned to you. Or, if you opt for a balloon payment, you’d need to sell the vehicle and cover the costs of the payment. With a finance lease, you do not own the vehicle.
A finance lease has the potential to offer businesses lower monthly payments and more flexible terms.
We cover the cost of your road tax for the first year of your lease. After the first year, it will be your responsibility.
Yes. A lease is viewed as a loan, which means the market value of the asset is included in the balance sheet, and depreciation is charged on the income statement.