Limited Company - under 3 yeras est

dkazus

Thank you Sean!

MEM62

Finance? As in a loan to buy the vehicle? If so, why?? You should be leasing it.

Broadly speaking if it is a business asset and it appreciates then buy it, if it is a business asset that depreciates lease it.

burlington6

MEM62 wrote: »

Finance? As in a loan to buy the vehicle? If so, why?? You should be leasing it.

Broadly speaking if it is a business asset and it appreciates then buy it, if it is a business asset that depreciates lease it.

False.

Leasing isn't for everyone when it comes to business use. Mileage restrictions and huge financial penalties for general commercial use can cost a fortune when the time comes to hand them back

MEM62

burlington6 wrote: »

False.

Leasing isn't for everyone when it comes to business use. Mileage restrictions and huge financial penalties for general commercial use can cost a fortune when the time comes to hand them back

I did include the caviat 'broadly speaking'. Either way, the theory is sound for businesses. Maybe not for individuals leasing for business use but certainly for a business itself.

There are no mileage restrictions on business leases. You specify the vehicle, the annual mileage limit that you need and the finance company will quote you accordingly. There are no such charges as end of lease penalties for 'general commercial use'.