Pros & Cons of Leasing Commercial Vehicles
In recent years, leasing a commercial vehicle becomes a mainstream with great advantages due to flexible leasing offers, lower monthly payments, repair & maintenance costs and many more. Even leasing a commercial vehicle has been a great alternative option to buying a new one, but is it the right option for your business? In this blog, we shed light on the pros and cons of leasing a commercial vehicle. Let us have a look and decide whether it’s right option for your business.
PROS OF LEASING COMMERCIAL VEHICLES
Lower monthly payments
When you lease a commercial vehicle, your monthly payments are likely to be lower than purchasing a new vehicle. Lower monthly payments are cited as the greatest advantage of leasing a vehicle. The commercial leasing company will fix the amount for every month that you are expected to pay until your lease contract ends.
When you consider leasing commercial vehicles for your business, the cost will be a determining factor. The up-front cost will be very less when compared to purchasing a vehicle. The greatest advantage of leasing vehicle is that you don’t need to worry about the cost of commercial vehicle maintenance and vehicle insurance.
Lower cost of maintenance & repairs
Reduced maintenance & repair costs are the significant advantages of leasing. When you lease a vehicle from a fleet company, you will benefit the full-service of leasing coverage which includes oil changes, tire replacements, and regular inspections.
At Fraikindayim, all our commercial vehicles are well-maintained regularly & rigorous safety inspections. You can save money and time for your business and upscale your business quicker. For further benefits & offers, you can contact Fraikindayim.
Access the Newest Vehicle
With lease vehicle, you may access the newest commercial vehicle models available on the market. In addition, unlike purchasing a vehicle outright that limits, leasing vehicle from a commercial vehicle company makes you to access newer brands and models. Also, this allows you to enjoy driving with the latest safety features & technological advances. Fraikindayim has new brands and models of vehicles for both rental and leasing plans with reliable prices in Saudi Arabia.
Inclusive Warranty Coverage
Vehicle leases come with extensive warranty coverage that lasts the entire duration of the agreement. This might be a really useful perk if you are prone to costly maintenance and repairs.
CONS OF LEASING COMMERCIAL VEHICLES
You Don’t Own the Car
The obvious downside when leasing a commercial vehicle is that you don’t own the vehicle at the end of the lease. The vehicle belongs to the leasing company, which allows you to drive as long as you complete your leasing contract.
The restrictions of leasing a vehicle can impede how much & how far you wish to drive. Moreover, in some cases, if you make any modifications or permanent changes to their vehicles, they will additionally cost at the end of your lease contract due to the need to reverse any changes.
Limited Mileage Restrictions
Leasing a vehicle from a fleet company comes with mileage restrictions. The mileage limitations differ depending on the vehicle types. In contract, you will agree on the estimated miles you will travel. Generally, leasing services limit driving to between 10,000 or 12,000 miles per year. The allowed mileage limit is the number of years you lease multiplied by the number of annual miles allowed. If you drive a lot, you will surpass this threshold. As a result, you’d have to pay for additional charges. Instead, you can opt for a high mileage lease if you need one.
Damage and Repairs
With a vehicle leasing, if you return the vehicle with the damage that significantly affects the vehicle, you are supposed to pay for it. To avoid this, read the terms of wear & tear, understand how their fees levied in certain situations.
The leasing company expects their vehicle to be returned in a good condition. Most of the companies consider tears in the seats or dents in the bodywork to be unacceptable damage.
Commercial vehicle leasing companies frequently demand collision insurance. Generally, insurance will pay for vehicle damages caused by a collision. You should ensure that your insurance provider offers a coverage option that your business needs.
Are you considering leasing a commercial vehicle for your business? At Fraikindayim commercial vehicle rental and leasing in Saudi Arabia, you can find the best vehicle lease deals for your business. You will find the budget-friendly vehicle lease contracts.