FAQ: What are the features and & benefits of a Car Lease (Finance Lease)?
What are a Car Lease's (Finance Lease) features and & benefits?
A Car Lease (Finance Lease) for a car or other passenger vehicle has a number of key benefits:
- Wide variety of residual value (balloon value) options
- Choice of terms (loan lengths) ranging from 24 to 60 months (two to five years)
- Tax deductions may be available when the car is used for business purposes
- No GST on the purchase of the car, as the GST is claimed back as ITCs by the financier
- A Car Lease is secured finance, which allows lower interest rates
Additionally, a Car Lease through stratton has the follow extra benefits (subject to lender selection):
- No ongoing fees
- Fixed interest rate, so monthly repayments are fixed for the life of the loan
- Ability to make advance lease payments for tax or cash-flow purposes
- Online quotes and online approvals available