Leasing A Car Through A Business

Some business owners like the idea of having newer cars to drive to meetings and events.

Leasing a car through a business. Youre able to use the car as you please in your work and personal life. Leasing a car is easy Leasing a car through your business is as easy as filling out a credit application and getting approved. As such you will need to pay Company Car Tax otherwise known as Benefit in Kind BiK tax on your chosen vehicle.

Your options when it comes to leasing a car are a personal contract hire or a business contract hire. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyers side. Cost for leasing standard office facility with massive area for parking our automobiles- 250000.

It sounds pretty straightforward when you break it down like this but theres a bit more to it. In this type of lease the lessee pays the difference between the residual value estimated resale value and the actual resale value at the end of the lease. This article was co-authored by Bryan HambyBryan Hamby is the owner of Auto Broker Club a trusted auto brokerage in Los Angeles California.

A personal contract hire is registered under an individual whilst a business contract hire is a vehicle lease for a sole trader limited company LLP partnership or charity. Leasing is popular among businesses of all sizes who rely on vehicles whether thats a single van or an entire fleet. Work With a Dealer That Offers Commercial Service.

Leasing from a Tax Standpoint. To calculate your Benefit in Kind tax please follow our guide here. Leasing through your limited company.

This means leasing the car through your business. Leasing a car or truck through a fleet leasing company can be advantageous for your company. Different manufacturers offer different programs and terminologies for this.