Lease a Vehicle
Long Term Leasing
Overview & Benefits
PV Leasing can provide any type of vehicle and has options of both new and used inventory to fit your specific fleet needs. Take advantage of our purchasing power and save on your lease. It’s simple.
- Improved cash flow
- Flexible terms
- Conservation of credit lines
- Unlimited mileage
- Customized up-fitting of vehicles
Leasing From Our Rentals Fleet
Selecting a leasing option best suited for your business and applying it to a lower cost vehicles is a great method of savings. The lower cost of a fleet vehicle allows more flexible payments while still offering exceptional condition and in most cases manufacturers warranty.
Get a Leasing Quote
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Your monthly cash flow: Leasing a car often has a lower monthly payment compared to financing a car with the same loan terms, since with a lease you're paying for the depreciation of the car during those years rather than the whole vehicle cost. If you need access to more cash every month, leasing may be more favorable.
If you drive the car for business: When you lease, a portion of the car's depreciation and financing costs can be deducted on your taxes. Interest on loans to buy a car, however, aren't deductible.
Capital Preservation Leasing lets a company conserve its working capital, allowing it to allocate cash funds for other purposes. Cash tied up in fixed assets is no longer available to finance important profit generating areas such as inventory, production, marketing, research and development, etc. In addition, with a lease, Sales Tax and other Taxes are not paid up front at the time the asset is acquired; but rather are remitted with the monthly payments over the life of the lease.
Credit Preservation All businesses have access to limited credit lines at their bank. Operating Lines, Demand Loans, Mortgages and other term facilities must be kept within the bank’s total exposure limit for that business. By using a third party leasing company to finance equipment and machinery acquisitions, you are effectively opening new credit lines – credit lines which normally require no down payments, and no outside collateral – while preserving your existing (and future) bank borrowing ability.
Easier Budgeting Lease terms, payment streams and purchase options can be tailored to meet most budgets. Skip leases, Step-Up or Step-Down payment leases are also available to match a business’ seasonal or anticipated cash flows. In addition, because most leases are based on fixed rates the customer is not at risk due to interest rate fluctuations.
Financial Efficiency The revenues (or cost savings) generated by the use of new equipment and machinery can be used to pay the lease payments. Expenses are matched to the generated revenues – a sound business management principle.
Flexibility In addition to tailored payment streams, leases can be designed with different types of purchase options. Moreover, leasing your business assets often facilitates easier upgrades, add-ons and trade-ups.
More Purchasing Power Leasing can actually give a company more purchasing power than when using either cash or bank loans. Here’s how: by purchasing equipment with cash or borrowed funds, sales and other taxes are generally paid up front. Thus, if a company had $100,000 available cash or bank loan, they could only purchase approximately $88,496 worth of equipment, as the other $11,504 would go towards payment of taxes (assuming a sales tax rate of approximately 13%). Further, in the case of bank loans, generally the bank will only finance a fixed percentage of the total cost of the equipment; requiring that the business provides equity into the transaction, in the form of a cash down payment towards the difference.
- In a typical auto lease, you sign a lease agreement and drive away in a new car. You drive the car for the length of the lease term, paying a monthly fee for the privilege of doing so. That fee is based in part on how much the car can be expected to depreciate -- that is, how much of its value will be lost -- during the lease. After all, a 3-year-old car is worth substantially less than a brand-new one, no matter how well it has been cared for. The expected value at the end of the lease is called the "residual value," and it's determined at the inception of the lease. The lower the residual value relative to the original price of the car, the higher your monthly payments will be. At the end of the lease, you have the option of buying the car for the residual value or returning it to the dealer.
- In a closed-end lease, if you don't want to buy the car, you simply drop it off. The dealer -- actually, the leasing company that handles the transaction on behalf of the dealer -- has to absorb the difference between actual and residual value. That's why closed-end leases are commonly called "walk-away leases." Lease agreements generally have mileage limits, so you may have to pay a fee for each mile you went over, and you'll also have to pay for any damage. But you're not responsible for the difference if the car ends up worth less than the residual value.
In an open-end lease, the risk lies with you. If the car's market value is worth less than the pre-determined residual value at the end of the lease, then you must pay the leasing company the difference.
- Closed-end leases make the most sense for consumers. Not only do they gain protection from having to pay for low market value, most consumers also have relatively predictable driving patterns that allow them to stay under the mileage limits, meaning their out-of-pocket costs at lease end are minimal. Open-end leases make sense mostly for commercial businesses. Not only are their driving needs more variable, but any extra costs can be written off as a business expense.