FINANCE LEASE CHARACTERISTICS
- Minimum Advance Payment (deposit) being from as low as one monthly rental.
- Terms are from 12 months to 45 months maximum
- No seasonal payment structures are permitted ie regular monthly payments with a balloon only are allowed.
- Monthly rentals are calculated on the GST exclusive price of the vehicle meaning your interest charges are less (as you are borrowing less).
- Finance Lease payments (for leases with a term of 45 months or less) are fully claimed as an expense in the same way as an Operating Lease.
- The lessee has the option of submitting to the finance co an offer to purchase at the end of the lease or returning it to the finance Co. The lessee however has full liability for the residual value of the lease.
As tax and GST benefits change from time to time all advice on these matters should come from the clienta??s accountant.
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