If you a own a small or large company corporate leasing may be a solution for your company's vehicle fleet needs. There are many benefits in obtaining a corporate lease for your company, one of them being a substantial discount, since you will most likely will be leasing several vehicles.
A corporate lease is almost exactly like a regular customer lease except that the business name will be on the lease contract and registration. In most cases you will need to have the business name put on as the "buyer" part of the contract, with a guarantor (representative of the company) signing as co-buyer.
Getting into a corporate lease is just as easy as leasing a vehicle on your own. You will need your business's tax identification number and an officer of the company to sign as a guarantor for the company. The guarantor is essentially who the bank is giving out the loan to, since it is their personal credit that qualifies for the lease itself.
In most cases you can call your local dealership and ask to speak with the fleet manager. These individuals are experienced in dealing with corporate and multi-car deals for business. The fleet department will usually have set the prices, all ready marked down, for you to purchase the vehicles, which takes out the "haggling" factor.
With corporate leased vehicles, you can obtain an umbrella policy from you insurance agent to cover all of the vehicles and all employees that you have registered as authorized drivers for the company. This is usually more expensive if you only have a small fleet of vehicles or a small number of employees, but for larger corporations this could save you up to a few thousand dollars a year in insurance costs.
There are many benefits for a company to lease a fleet of vehicles for their company. Giving you employees reliable vehicles to drive will help boost moral. Also, you might be able to write off most of the lease expenses, helping to save your company thousands in taxes a year.
Always consult a professional tax consultant regarding tax laws and how they would be applicable to your business needs.
