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Companies lease their vehicles for may reasons. Many companies choose to lease so they can have an overall fleet plan. Miller allows its customers to tailor a customized fleet plan across all brands so that the customer's fleet can be as productive as possible. Terms, mileage, and lease types are all very flexible and are designed to all flexibility. Companies also choose to lease from Miller because of our extensive fleet knowledge and resources. We understand fuel economy, proper fleet mixes, proper specs for work vehicles, and everything else that can be used to make your fleet of cars or trucks the most efficient possible for your business.
What are the Advantages of Leasing?
- Lower Monthly Payments Because you only pay for the portion of the value of the car or truck that you actually use, your monthly lease payments are 30%-60% lower than for a purchase loan for the same car and same term. You don’t pay extra money each month to “invest” in ownership equity.
- No Down Payment Car leasing provides the option of making no down payment, although you must still make the first month’s payment and official tag and registration fees. Some promotional lease deals require a down payment to get the deal.
- More Car, More Often Since monthly lease payments are lower than with buying, you get more car for your money and drive a new vehicle every two to four years. A luxury vehicle can often be leased for the same or lower payments than loan payments for a less expensive economy vehicle.
- Fewer Maintenance Headaches Most people like to lease for a term that coincides with the length of the manufacturer’s warranty coverage so that if something goes wrong with the car, the repairs are always covered. Some car companies also offer free routine scheduled maintenance for the term of the lease.
- Lower Up-front Cash Outlay Most car leases require little or no down payment, which makes getting into a new car more affordable and frees up your cash for other things. However, you can choose to make a down payment, or trade in your old vehicle, to lower your monthly payment amount. Preservation of cash is a strong incentive to lease.
- Lower Tax Bite In most states of the U.S. and in Canada, you don’t pay sales tax on the entire value of a leased vehicle as you would if you purchased. You’re only taxed on the portion of the value that you use during your lease. The tax is spread out and paid along with your monthly lease payment instead of being paid all at once.
- No Used-Car Hassles With leasing, the headaches of selling a used car are eliminated. When your lease ends, you simply turn it back to the leasing company and walk away, unless you decide to buy it or trade it.