What To Consider When Leasing A Car For Your Business

A car salesman is explaining the purchase details and details in the car purchase contract before si

Purchasing vehicles for your business requires capital investment. If commercial vehicles or a vehicle fleet is vital to your business operations and you don’t want to compromise your cash flow, consider vehicle leasing. Vehicle leasing can help you access the transportation you need, while eliminating the need for exorbitant expenditures to build or grow your fleet. There are many benefits to vehicle leasing including the ability to quickly and affordably acquire the vehicles you need to get the job done. Vehicle leasing allows you to finance the use (or depreciation) of a vehicle for the term of the lease. This means you are financing the difference between the initial purchase price and the projected value of the vehicle at the end of the lease. This is unlike a vehicle loan in which you finance the purchase of a vehicle for outright ownership. When you are exploring your options for vehicle leasing, keep these considerations in mind.

What To Think About When Considering Vehicle Leasing

Fleet Management
One of the key benefits of car leasing for businesses is the ability to manage a fleet of vehicles efficiently. This includes keeping track of vehicle specifications, maintenance and repair, insurance coverage, and tax benefits. Leasing vehicles for your company’s fleet makes managing budgets and monthly payments easier. There are benefits to leasing whether your business is small with just two or three company vehicles, or your business requires a large fleet to carry out operations.

Lease Agreement
A lease agreement outlines the terms and conditions of the car leasing arrangement, including the term length, mileage limit, monthly payments, and maintenance and repair responsibilities. It is important to carefully review and understand the lease agreement before signing it. Make sure that your leasing company offers tailored leasing solutions that will work for your business and watch out for these red flags.

Vehicle Financing Or Vehicle Leasing
There are benefits and drawbacks to both financing and leasing your company vehicles. Before you choose one option, read Is Vehicle Leasing Or Vehicle Financing Better For Your Business?.

Vehicle Use
How often and how far your employees drive can determine which type of lease agreement might be best suited for your company vehicle leasing product. If you expect to drive a lot, Consider High Mile Vehicle Leasing.

Contract End Options
The end of a lease agreement can be a crucial time for businesses, as it is when they must decide whether to return the vehicle, purchase it, or enter into a new lease agreement. Before you sign your lease agreement, explore your end of lease options.  

Vehicle Leasing For Your Business At First Capital Leasing

While the leasing process may seem complicated and confusing, vehicle leasing can offer significant benefits to your company, regardless of size. First Capital Leasing provides customized vehicle leasing solutions to get your team on the road, affordable, safely, and quickly.

Not every commercial vehicle leasing provider is committed to protecting your company.
Learn how to protect your business by reading
Watch Out For These Red Flags When Shopping For A Vehicle Lease.

First Capital Leasing is a full-scope financial services provider with the knowledge and experience to create tailored financing solutions that meet your needs and your goals for your company. We can help you figure out which strategy can support your current operations now and in the future. We are based in Calgary, but serve businesses across Canada. For easy application and quick approval, fill out our online application. You only need to apply once and First Capital leasing will continue to be your financing partner for all your business equipment and vehicle leasing needs. Approval can usually be completed in less than 4 hours!*  If you are ready to explore vehicle loans and vehicle leasing for your business, call our team at First Capital Leasing at 1-888-251-3644 or fill out our contact form today.

* Subject to credit approval 


Q: Are there restrictions to the type of vehicle I can lease?
A: Most financial institutions have stringent restrictions on what can be financed. However, at First Capital Leasing, we will work tirelessly to get you the commercial truck or vehicle your business needs regardless of the year, hours, or kilometres, including water trucks and tankers. We can also accommodate any supplier(s) and auction houses, as well as private sale transactions to ensure your business has the vehicles it needs to thrive and grow.

Q: How does my business explore commercial vehicle leasing with First Capital?
A: Our process is simple:

      1. Choose the vehicle(s) and the seller of your choice. Confirm the full asset details, along with the cost. 
      2. Complete our online application, which is instantly submitted to our credit team. Existing customers do not need to re-apply.
      3. Once approved, a First Capital team member will contact you to discuss your financing options. We will then contact your supplier to arrange for invoicing of the purchase. Documentation is then provided for your review. 
      4. Upon receipt of all required documentation, our funding team will work on payment remittal to the supplier. We can accommodate any prepayment or deposit terms the seller requires.

    If you have any questions or need more information about which First Capital financial solutions might be right for you, call us at 1-888-251-3644 or fill out our contact form today.

    Q: What are the benefits of choosing First Capital Leasing for my vehicle leasing needs?
    A: If commercial vehicle leasing is the right option for your business, partner with First Capital Leasing to make acquiring your vehicles easy. With over 85 years of combined experience in commercial vehicle leasing, we have the knowledge to provide you with the right vehicle leasing solutions for your business. The benefits of partnering with First Capital for vehicle leasing include:

        • Customized payment schedules that fit the cash flow of your business

        • No kilometre restrictions

        • No age restrictions

        • Quick approvals (four hours or less) APPLY HERE

        • Fast turnaround (documents signed and supplier paid is as little as 24 hours)

        • High approval rates

        • Lease To Purchase Options

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