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Closed-End Leases During Uncertain Times

May 14, 2020 | Posted in Jim Pattison Lease

Overview

Vehicle leasing provides a significant cash flow advantage to a business over purchasing, as the lower lease payment reflects the expected usage of the vehicle. In essence, you only pay for what you use.

A Closed-End (operating lease) is a type of lease that offers flexible terms and kilometre allowances while eliminating residual risk and avoiding uncertainty of the used vehicle market.

Benefits of a Closed-End Lease

  • Any make and model vehicle (light and medium duty)
  • Flexible terms (terms can range from 12-60 months)
  • Flexible kilometre options (high kilometre options available for commercial vehicle use)
  • Ability to include up-fitting required for your business needs (cargo van shelving, snow tires, bed liners, etc.)
  • Usage based monthly payment (you only pay for what you use)
  • Maintenance packages available for ease of budgeting
  • Increase driver accountability through fleet management programs
  • No residual risk (avoid used vehicle market uncertainty, especially during economic downturns)
  • True operating lease for accounting purposes
  • Low total lifecycle costs (refresh your fleet while managing costs and reducing unexpected and costly repair expenses)

Summary

During times of uncertainty, vehicle values can be significantly affected based on economic conditions. Closed-End leasing can be an effective option to add stability to your fleet through consistent usage based payments, while avoiding residual risk.

To learn more about our Closed-End lease program or any of our other services,  contact us here.

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ANNOUNCEMENT
During this time, our team continues to be available to fully support your business fleet needs remotely and our pre-owned vehicle sales locations are available by appointment only.
For details on our COVID-19 safety protocols, click here.

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