Wheelchair Van Leasing in the Current Environment
While signs are starting to point in the direction that the worst of the COVID-19 pandemic has come to pass, there is still a lot of uncertainty for several of our valued clients. We can appreciate that this uncertainty may cause you feelings of hesitation when it comes to purchasing an accessible van for your program.
If you need a mobility vehicle but are concerned about funding or potential changes to your program, then you may wish to explore wheelchair van leasing. Based on the current climate, we have identified five reasons that may make now the best time to lease your next wheelchair accessible vehicle:
- Record low interest rates: with some of the lowest rates in over eight years (4.5% – 5.5%) these reduced interest rates substantially lower monthly payments.
- Leasing means less money upfront: Lease contracts are available with little and in some cases no money down.
- Shorter commitment: It is hard to know what the next few years will to bring in these uncertain times. Being worried about funding or changes to programming can make the purchase of a vehicle less appealing. To combat this uncertainty, many are looking to affordable two- or three-year lease agreements.
- Depreciation protection: Vehicles are in short supply currently, which has been driving prices up. Some are concerned that once this supply issue is resolved, there will be a sudden and steep drop in their vehicle’s value. Leasing protects against this if the value drops – it’s the lessor’s issue, not yours. On the flip side, if the value of the vehicle is higher than anticipated at the end of the lease, you have the option to buy the vehicle out.
- Tax benefits: A leased vehicle is 100% tax deductible as an operating expense, realizing significant savings to your organization.
If you would like to learn more or to find out if leasing is right for your organization, please feel free to reach out to us at 877-781-8267 or click here to contact us.