ProNovate Operating Leases
It’s not news that ProNovate are experts on the Novated Lease field. However, did you know that we can also provide Operating Leases?
Unlike a Novated Lease which is in the Employees name, and Operating Lease is leased by the business, and is commonly used for tool of trade vehicles.
An Operating Lease offers peace of mind for businesses with a set rental payment each month over a fixed term. At the end of the lease term, provided the vehicle is in good condition and has been properly serviced and maintained, you can simply hand the vehicle back and the financier will accept the residual value risk.
An Operating Lease can free up valuable cash for other business purposes and there is no cash burden of a large upfront outlay. The asset and the lease liability are both held off balance sheet and can assist the business with budgeting their fleet.
The Operating Lease allows your business to claim the full expense and running costs of your fleet, offering a tax effective solution that also transfers the risk away from your business. Benefits of Operating Lease in your business:
- Fixed monthly repayments for the length of the lease, inclusive of running costs
- No resale risk – the responsibility for the residual value remains with the financier
- Comprehensive reporting keeps you informed of vehicle usage and vehicle replacement dates
The Operating Lease can come with a range of value added options and benefits that can be customised to your businesses’ needs, and you can choose between a ‘Fully Maintained’ Operating Lease and a ‘Non Maintained’ Operating Lease.
With a ‘Fully Maintained’ Lease your monthly lease rental includes all scheduled servicing and maintenance costs, such as repairs, registration renewal, tyres and accident management.
If you prefer not to include a ‘Fully Maintained’ package, our Operating Lease can also be packaged with maintenance services to assist with the running of your fleet.
At end of the lease you can choose to either:
- Extend the lease
- Upgrade to a new vehicle
- Return the vehicle to The financier
To find out more about ProNovate’s Operating Leases contac us on 1300 000 PRO or firstname.lastname@example.org.