ss_blog_claim=bd50edc517cf0b7549fe6b5f63b6b5f8 The SLS Business Finance Blog: Leasing the Company Car

Wednesday, October 22, 2008

Leasing the Company Car

Lately, companies are doing whatever they can to bring in clients. This often means driving more or even dedicating a car (or one of a fleet) just to going out to bring in new business.

Cars, specifically, and trucks and transportation more generally are one of the most common and best types of commercial equipment to finance/lease. Sole props, S Corps, C Corps, LLC, LPs and LLPs all qualify for leasing a vehicle through the business.

The US Auto makers have gotten out of consumer leasing entirely, however, many independents and other companies have a leasing program almost exactly the same as what they used to offer for clients that want to/are able to run the vehicle through their business. So the make and model of car of choice, as well as the dealer, become irrelevant and the client can choose whomever they wish.

Leases for transportation always include a purchase option, often qualifying them as an Operating Lease. This means among other things, maximum tax deductibility thus making it a great deal even for one person businesses.

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