Are you considering writing leases, or are you already doing it? Leasing is a great way to mitigate some risks and expand your business. At CAR Financial, leases are NO PROBLEM!
- Customer payoffs and trade ups are managed exclusively by you.
- Since there is no retail sales agreement, income earned on the lease contract may be treated differently than a sale (consult with your accountant).
- GPS and tracking devices are no problem. In case of customer default, you retain that ability to know the vehicle location (proper disclosure required).
- Sales tax may be paid monthly instead of up front…you pay sales taxes as the customer pays payments (consult your accountant).
- Residual Control – At the end of the lease term, the customer either pays the residual or they return the unit to your inventory so you can sell it again.