Benefits of Leasing Wheelchair Accessible Vans
Depending on your business or organization structure and goals, leasing a vehicle is an option worth exploring. How does your organization prefer to pay for your accessible van? Leasing is a great option for organizations who replace their wheelchair vehicles every two to five years with an upgraded model. There are also benefits for businesses who want a lower monthly payment, protection against warranty, and the means to properly maintain their accessible vehicles.
What are the Advantages of Leasing a Wheelchair Accessible Vehicle?
Lower monthly payments; you only pay for the depreciation that occurs during the term of your lease. Monthly lease payments are lower compared to purchasing the vehicle. Lease payments are smaller due to the contract including a residual value at the end of the term. You pay on a monthly basis until the balance reaches the residual value.
Warranty Coverage and Maintenance
If you incur high mileage every month on your vehicle, it will be covered by the manufacturer’s warranty for the total number of years you are driving the leased vehicle. Lease terms often range from two to five years, so you do not have to worry about the cost of expensive repairs that often add up in your ongoing monthly operating costs. In other words, having fewer unpredictable service issues means less headaches sending vehicles in for repairs. This results in not only less downtime for your business, but at a lower cost of operation.
What about when your lease is up?
Simply return to the dealership. You can walk away after paying any mileage surplus or excess fees. Most people will actually drive off with another newer accessible van to lease. The advantage to leasing is the peace of mind and not worrying about the hassle of selling your old van or trading it at a dealership.
Leasing your vehicle through MoveMobility means that your lease payments are 100 percent tax deductible as an operating expense. That’s huge savings in tax dollars.
Traditional car payments often require you to make a large down payment. This is helpful in that it will result in lower monthly payments when buying your accessible vehicle. Leasing a vehicle requires a smaller down payment. Some leases require no down payments at all.
Leasing an accessible vehicle may make an acccessible van more viable than you thought. It’s ultimately up to your organization’s needs and what best fits your needs.
Find out more about wheelchair van Commercial Leasing options here.
The Government of Canada website has a helpful calculator tool to estimate the leasing price for your next accessible vehicle. Click here.