Today, the way modern organizations approach their assets is going through a significant shift. While ownership of assets dictates control for many, being asset-light is a new way to achieve flexibility across various small, medium, and large enterprises. With company car leasing, both the organization and employees can benefit from the availability of assets without having to worry about ownership.
The trend of car leasing is gaining immense popularity owing to the benefits it offers. For organizations, a fleet can be made available for their employees, which, in turn, boosts employee satisfaction, offers convenience for commuting to work and outstation, and nurtures an employee-centric environment. For employees, car leasing offers convenience and satisfaction and makes acquiring a vehicle affordable and simple.
Car leasing is preferred by organizations and employees alike for a variety of reasons. First, there is no down payment required. An organization or an employee can acquire the vehicles and start with the lease rentals immediately without any down payment. Many car leasing companies in India are aiming to provide a well-functioning and efficient fleet to organizations, inclusive of all other expenses.
For instance, with full-service leasing, the cost of maintenance and repairs are covered by the car leasing company, including any damage caused. Employees need not worry about bearing the expenses and maintaining the car constantly.
Leasing a car also allows users to enjoy the care at its full capacity. If an employee wishes to replace the old vehicle, they can acquire a new one and get the lease renewed, without having to consider selling the old car.
Buying a vehicle also comes with additional expenses such as insurance, maintenance fees along with loan EMIs. One of the most important benefits of leasing a company car is tax benefits. Leasing a vehicle enables employees to reduce taxes by 30%. As compared to owning a vehicle with no low tax benefits, leasing can help in saving taxes for a long period of time.
With constant upgradation in vehicle models, new technologies, safety features, and in-vehicle entertainment systems, car ownership is expected to evolve to a considerable extent. Amid such developments, vehicle owners want to upgrade their cars every two to three years.
Purchasing a vehicle also comes with a downside, as the vehicle loses 20% of its value as soon as it is brought on the road. As a result, vehicle ownership becomes valuable only when the car is being used over a long period of time. After a point, maintenance and repair costs also become a liability for some car owners.
In such cases, leasing a car can be an optimal solution. For employees, car leasing offers the flexibility of using a brand-new car for a short period of time without the hassle of maintenance, repair, insurance, and selling the car after a few years. At the end of the lease period, the user can replace it with a new vehicle that is equipped with the latest safety, convenience, and entertainment features.
For organizations, car leasing will ensure that the employees have the latest and the most well-maintained cars for their business commute. This also induces employee satisfaction in the organization, along with boosting their morale, and highlighting the organization’s values when it comes to employee-centricity.
If you are looking for an all-encompassing auto leasing solution, Poonawalla Fincorp has got you covered. Our Company Car Lease products are specifically designed to assist you with your auto fleet requirements every step of the way.
We offer Company Car Lease products to medium and large enterprises that are looking for a fleet acquisition for company expansion and employee satisfaction. You can also customize your solution as per your requirement to get the latest fleet for your employees. Our Company Car Lease solutions are carefully curated to improve employee satisfaction, reduce overhead costs, and increase profits.
Our cost-effective Company Car Lease products include Finance Lease and Corporate Lease. We have a dedicated team available to assist you with your loan application and buying process. With well-known manufacturing and dealership tie-ups, you can select from a wide range of vehicles for your fleet.
You can also apply for our Company Car Lease solution online. The online application is quick and seamless, with minimal documentation and instant loan approval. Our subject matter experts are here to assist you with customization for diverse fleet requirements.
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