A large amount of working capital can get tied up in purchasing equipment for your business, and this money might be put to work more productively in other programs directly related to the profit of your business. The purchase and maintenance of company owned equipment often creates a drain of time, talent and financial resources. Consider whether or not your company can afford to dedicate the transportation personnel required to effectively run and maintain a fleet. As an alternative, leasing provides a fixed monthly transportation expense, which presents budgeting and bookkeeping advantages. Let us put our 44 years of experience to work for you! At Hornoi Leasing, being the best at our job helps our customers to be the best at theirs.
Owning Versus Leasing
When taxes increase, leasing your vehicles may be a more affordable option. The reason is that in some provinces, debt associated with your fleet of trucks can be included on the year-end balance sheet as taxable. Capital tax is not imposed on an operating lease. Leasing a fleet rather than purchasing also leaves you with greater borrowing capacity on your business lines of credit. Another benefit of leasing is that you do not have to worry about the maintenance of the vehicle fleet, as your leasing company (such as us) can take care of it for you.
Long Term Leasing Information
In addition to leasing items for a short time or for one time jobs, we also offer long term leasing arrangements. This can range anywhere from six months to a few years. When your lease is almost over, we will notify you and find out if you want to renew your lease. If we need to increase your rate for any reason, we will let you ahead of time so you won’t be surprised. We can offer discounts on longer leases over short term. All of our trucks, vans, or trailers are available for long term lease.