8 Reasons you should lease a bus than buying one
Over the years, about 16% of new cars have become lease vehicles. Today, nearly one in three vehicles on the road is leased and not purchased. The decision to lease or buy depends largely on the purpose of getting one. There are a number of reasons to justify leasing as a better option than purchasing a vehicle. It is a viable option for companies not ready to expand their current fleet, since it saves them time and money. There are some companies that need vehicles seasonally and buying a new one seems like a bad deal, whereas bus leasing sounds like a wiser alternative.
Here are seven reasons why a company should lease a bus than purchase one.
- Newer Models for Lesser price: There are cases when being a company you don’t actually want to expand your fleet but some new vehicles are required. The best option is to lease a bus in this case since you can get the latest models easily without pay as much as the owner did. Companies can afford newer models and bigger buses when they lease one rather than purchasing it. There is another catch here since the automakers that sell these buses typically have high residual value. The dealers look forward to high residual value, once the lease expires on the bus, they can offer expensive vehicles for not much more per month than any other old or smaller bus. Dealerships sell the vehicle not once but twice. The first time they sell is through an initial lease agreement. The second time when the lease term has expired, they lease the vehicle as a certified pre-owned one.
- Less or No Down Payment: As a company if you want to save on the initial down payments than bus leasing is the best option for you. A lease is a form of financing, it’s not a loan. Generally, a down payment is used to lower the monthly payments but with a bus lease a down payment actually exposes you to greater risks and lost opportunity cost. Paying for a down payment on a leased car means you will never recover that money. What if, the vehicle is wrecked or stolen in the first month, and if your down payment was $5,000 then that means you have just paid $5,000 for a one-month lease. Hence, there is no down payment on leased vehicles. Making that big amount of down payment on a new vehicle doesn’t even make sense since bus leasing sounds like a better option financially. When you lease a bus you walk out with the keys of the vehicle in hand without having to pay hefty monthly bills, and all at ‘zero-down.’ Some leasing options do include a small amount of down payment with a higher mileage allowance or damage forgiveness. Nevertheless, with zero down payments, going for a bus lease is a much better option than purchasing one.
- Monthly lease payments are lower than loan payments: Paying a monthly lease amount is much lower than paying out a monthly loan because you’re paying for the vehicle’s depreciation during the life of the lease. When buying a new bus, you must pay for the entire vehicle – including taxes, permits, interest charges and any other fees.
- Tax benefits to lease a bus: When you lease a vehicle you simply pay taxes on your monthly payment instead if you buy the vehicle you would have to pay the entire amount of sales tax within 30 days of purchase.
- No Maintenance Costs: When you lease a bus for three years, the vehicle has full warranty during the entire lease period. Lease agreements are shorter than vehicle warranties. If anything breaks down, you don’t have to pay for the bus repair Maintenance costs are fully covered with a bus lease. Even if maintenance is not covered, you can maintain the car which is why dealerships will check the car for signs of neglect and they usually purchase with a ‘free maintenance’ condition before signing the lease agreement. Although, if the wear and tear of the vehicle with tires or brakes wearing out, you have to spend some to replace these parts. Or you could opt for an extended warranty in order to avoid maintenance charges completely.
- It’s easy: Leasing is easier financially, much more convenient and faster than buying a car. When you want to get rid of the vehicle you can simply lease another one. You don’t have to wait for the lease to expire to get another vehicle.
- GAP protection: When you lease a bus and in case it gets stolen or damaged then you can benefit from the GAP protection that will not let you be on the hook for the difference between what is owing and what your insurance will pay out.
- The smell of a new car: When you opt for leasing a vehicle, you can get a new one that has the smell of a new car inside. Your employees will love the smell of a new bus and will also feel that you care by getting them a new vehicle for transfers and transport.
Atlantic Bus Sales is the most popular bus leasing service in Atlanta
Atlantic bus sales are a popular choice and leading bus leasing service in Atlanta. Until 1990’s when the company collaborated with Metrotrans Corporation that was located in Georgia, the Transmark and Escort series were represented in almost 8 southern states. In case your company is looking for shuttle bus leasing or simply a bus lease, Atlantic Bus Sales is the best dealership in the region.