A Maintained Operating Lease incorporates all service, maintenance, tyres, registration and fuel management costs and allows the company to hand the car back to the financier at lease end without the responsibility for the residual value.
Whether you are a sole trader with one vehicle or you are a larger company with a fleet of vehicles, Maintained Operating Leases may simplify your vehicle management and save you money.
You choose the vehicle (with assistance from Fleet Point to ensure you are getting a vehicle suitable to your requirements) and nominate the lease term and the maximum number of kilometres that you will travel.
All servicing, maintenance, tyres, registration and roadside assistance costs are incorporated into the one simple monthly repayment, and at the completion of the lease you simply hand back the car (and if required replace with an updated vehicle under another Maintained Operating Lease). The residual value remains the responsibility of the fleet provider, not you.
If required, comprehensive insurance can also be arranged.
Benefits of an Operating Lease
- Simple vehicle management. One monthly repayment.
- Reduced administration costs as employees time is free to focus on income producing core business rather than vehicle purchasing, maintenance and administration.
- Vehicles are kept off balance sheet, to improve debt-equity ratios for future lending. The monthly lease payments are treated as an operating expense for taxation deductions (refer your accountant for personal circumstances).
- No residual risk resulting in loss on resale of your car. The residual responsibility remains with the fleet provider, not you.
- Potential fleet savings. Buying power on the vehicle and the servicing costs keeps the monthly payment down.
- Comprehensive Reporting keeps you informed of vehicle usage, FBT expenses and replacement dates.
- Emergency break down service.
- Simple order process.