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lease2OWN
WHAT IS A LEASE2OWN?
- "Lease2own' is a commercial business to business operating lease agreement, it also allows you to choose your choice of bsuiness use vehicle and or equipments for an fixed period term with option to purchase at the end of the period. "In the nutshell of it, the lessor buys the vehicle or equipment at your request and rents it to you for the agreed period with ownership option at the end. You also have the flexibility and select for an option to purchase, return it and or upgrade it". Tax Benefits for your business: If the asset is used to produce income, your business can usually claim the lease payments as tax deduction.
- Lease2own processes with minimal application requirements or criteria to gain a vehicle access solution and is not a type of bank loan or atrract interests based contract. Also unlike traditional car rental, each lease2own repayments you make helps you move closer to owning the car.
- Apply Now.
- Lease VS Auto Loan Purchase?
- It comes down to the needs and objectives of your business, manage expenses along with your financial situation.
- A lease may suit you if you need a vehicle or equipment for a fixed period and want to be able to upgrade to another vehicle at the end of the lease without the risks to sell it or face the depreciation loss and you don’t want to pay the entire amount in one go and need to keep your cash flow available for business expenses.
- While a auto loan purchase might suit you better if you want to buy the vehicle or equipment upfront through a bank lender, maintain your own business equipment running costs and depreciation schedules and having the asset upfront also means that should you wish to exit or terminate their contract, you will need to sell your car or equipment yourself and face any out of pocket (Loan to value ratio) with the depreciation loss.
- Loan to Value Ratio, means that your vehicle market value during the sale may be lower than the loan payout value, at the time. This also means that you will need to pay or be 'Out Of pocket' to finalise the loan payout amount at the time of sale.
- Who is eligible for Lease2own?
- We intend to aim to provide easier vehicle access and deliver value alternative compare to vehicle ownerships and the risks comes with it.
- We welcome all applicants including:
- Self employed
- New ABN holders
- Temporary Visa holders
- Student Visa holders
- Minor Credit impared customers
- Our services and processing;
- a) Estimate fixed lease repayments estimate on selected asset or motor vehicle with its operation costs.
- b) Application assessment to fit and suit it's product, serviceability or lender's .
- c) Vehicle inspections, accurate market research
- d) Streamline acquisition or sale process.
- e) Asset certification and compliance met standard.
- f) Account and fleet operating management servicesis our product which defined or contain meaning of a 'rent to own' and it is a great alternative for individual with low score credit impared or have trouble gaining car loan approval due to their situation to own their own vehicle.
- Why are people refused for car loans?
- People are refused for car loans due to having low creditworthiness. Creditworthiness is the way banks and lenders decide on whether someone is a good fit for a loan. Banks and loans conduct checks into customer credit history to figure this out in the first place. Your credit history is a document that shows banks when you’ve applied for credit, the amount, and as of 2018, information on your credit cards such as if you’re near the limit, the amount you pay each month or have been refused limit increases.
- Credit histories also record defaults; if you have defaults, this lowers your creditworthiness. Other reasons may include being young and having no credit history; a new arrival to Australia; being self-employed; being on Centrelink payments or pensions, or being an ex-bankrupt.
- How does Lease2own a car work in practice?
- Lease to own works for approved business owners or applicants, who needs the vehicle to operate their day to day business activities. The business owners have the liberty to select from all brand new cars or selected approved pre-owned cars, projects an annual operating running cost and insurances bundled and packaged into one simple weekly lease installments. The operating cost bundled with a mandotary and optional operating costs, in which you will not have to worry by paying your own registration, insurance, scheduled servicing, and other on-road costs. However you will still be responsible for fuel, tolls and keeping the vehicle neat and tidy.
- (The Pros):
- 1) We purchase the asset at your request and rent it to you for an agreed period
- 2) Use the asset during the lease term
- 3) Your business can generally claim the lease rental as a maximum tax deduction.
- How long is the Lease2own full term?
- • The Lease2own full term is 4.3 Years or 225 weeks in total, with $1 payout only at the end of the term to own your vehicle.
- Options for Early Buyout or upgrade eligibility?
- • The Lease2own carries a minimum 24 months contract term for early buyout eligibility and you able to choose to buyout, hand the car back and upgrade it or recontract into another car by entering a new contract.
- • Early Buyout fee and eligibility is option for our lease holder to buy the asset or motor vehicle for a single early buyout payment payable at buyout amount at the time or when provided and valid for period of 21 days.
- • The buyout fee may change from time to time and are based on trade-in or use the market value guidance OR calculated over 46x weeks against lease repayments, whichever has lesser value.
- • Buyout offer is not calculated or cannot be use in conjunction of any existing or paid lease repayments nor may be deducted from upcoming or future ongoing payable lease repayments.
- Which states does Lease2own cover in Australia?
- We are currently covering Sydney metro area only or the outer suburbs and we are growing nationally soon. If you live within sydney metro area, you can apply directly online on our website. We will need information about your finances to see for serviceability. Click here to use our leasing repayment estimate calculator and serviceability tool.
- Can I choose my own vehicle?
- Yes, you can choose all types and range of cars available from brand new cars, ex-demos, or approved pre-owned vehicles.
- View from our Lease2own Plans:
- A: Pre Selected Pre owned vehicles
- B: Self selection of Pre Owned vehicle (subject to leasing assessment and package pricing approval).
- C: Self selection of Brand NEW Vehicle (subject to leasing assessment and package pricing approval).
- What benefits for having ABN for car leasing for your business?
- “We are supporting Australian Businesses to get better tax benefits and be a smart saver to own their car through leasing”.
- A few reason how you can benefit by having an ABN attach to your car lease:
- * Claim up to 100% tax deduction of your car lease repayments through your business ABN.
- * Claim 10% GST of your lease repayments (when GST registered).
- Do you have an ABN (Australian Business Number)?
- If not, you can apply and register for one here.
- Watch this tutorial video below on how to apply fo your own ABN for free:
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