Own or Lease?
When was the last time you asked yourself this?
To own or not to own? This is a question that many businesses will face, whether it’s one vehicle or an entire fleet there’s no ‘one size fits all’ answer. Owning or leasing will depend on your business and situation.
Owning, means you will purchase the vehicle outright whether that be a full payment meaning you will have full ownership or via a finance lease (lease to own). Often with a Finance lease you pay an agreed amount at the end of the lease called a balloon payment. You will have full ownership once everything is paid off.
There are generally two types of leasing; an operating or finance lease. Operating leases mean you lease the vehicle over a period of time with an expectation of mileage used throughout the lease. You do not own the vehicle after the lease period however and typically return the vehicle and get a new vehicle.
At Yoogo, we believe in challenging the status quo and finding the best solution for your business. If you are looking to do the same and have wondering which option is better for your business – talk to us. Call 0800 2 YOOGO or email email@example.com.
We have made a little infographic to help you understand a bit more Click Here.