Vehicle Leasing

I saw (what looks like) a good vehicle rental agreement on a VW Transporter ("from" £ 168 pm) but this is not something that I did before. Can anyone inform me about the basics here? Am I correct in thinking that after a while the vehicle belongs to my company? What are the pitfalls and what to look for? What about insurance: Can I tranfer my existing insurance vehicle for this vehicle or should I need a new insurance (I use it as a private vehicle, thus, get to work, etc. .) Thanks

With most plans of leasing, the vehicle returns to the lessor at the end of the lease term. You want to be able to buy it, if you wish. Regarding insurance, if you will use it for commercial purposes it needs to be insured for that.

We rent trucks, at the end of the lease term, we recover and start over with new ones. We saves tying up capital in the purchase altogether.

basicaslly youre paying for the car for a certain time, as o 3-5 years. after that vehicle is your e forever. However, if you choose to take 2 years after the van in and exchange for a brand new and repeat the process. you can transfer any right in the insurance but it Willbe a lump sum that can Ange 30-50 pounds

The prize must add VAT (17.5%) and you'll need a deposit. Usually 3 months (eg 3 + 36 means 3 months in advance and 36 months). You will not be able to exit the agreement without an expensive purchase, but this is taxable! Very few policies can be transferred to personal comercial. Unless the lease of a purchase (which means the end of the term you pay a cash balance), you return the vehicle to the company.

First thing, a lease means you do not own. Probably never, unless you go to buy.

Regarding the transfer of your personal auto insurance, which would be a bit muddy waters differentiate your personal life from your professional life.

I do not know the UK, but the United States, a corporation is designed to protect from liability and enable you to deduct the income before taxes.

You may deduct dollar for dollar, the cost of insurance on behalf of your company.

If you enter an accident / car is stolen, your company will protect your interests (home, private car, etc..)

Render unto Caesar what belongs to Caesar, give your business what is your business.

Hope that helps.