Leasing

Not every leasing company offers you what Summit Fleet does. We are dedicated to providing customized leasing programs tailored to the needs of our commercial clients. Whether you are a new company or an established one, we offer the right lease for your unique application.

Working with our leasing company lets you conserve your cash and working capital. Your money won’t be tied up in equipment. Lease financing through Summit Fleet can also preserve your lines of credit. You’ll have the borrowing power you require for other operational and short term financing needs.

Your initial costs and monthly payments allow you to use your equipment immediately. With its operating efficiencies the new vehicle pays for itself as you use it over time. Profit is guaranteed by the use rather than the ownership of equipment.

Working with us also lets you regularly upgrade your vehicles, eliminating the inefficiencies of owning outdated equipment.

A lease with Summit Fleet usually runs from three to four years, or if preferred, can be shortened, enabling you to maintain a successful business image with late model, well maintained commercial vehicles.
Most new vehicles require minor maintenance, such as oil changes, which are the responsibility of the lessee. However, since many of our lease terms expire before the new Vehicle Limited Warranty, any major repairs covered under such warranty will be paid by the manufacturer, enabling you to reduce your commercial vehicle life-cycle expenses.
Studies show that as a vehicle ages and kilometers increase, a business will experience increased vehicle downtime with a corresponding loss in income. By leasing over a three to four year period, you are able to obtain new vehicles more often and reduce costly downtime.
A lease with Summit Fleet may require less initial expenditure than a conventional purchase loan, enabling you to preserve capital and upfront costs. You also have the option (as some business owners prefer) of further reducing your monthly lease payments by making a down payment (capital cost reduction).
Because you only pay for the portion of the vehicle that you use, your monthly payments are lower than if you purchase the same vehicle.
There can also be some tax advantages for businesses to leasing. In certain circumstances, leasing may yield a more favorable tax result than a purchase. We suggest you seek the advice of your tax professional to determine what’s best for you. There are also sales tax benefits to leasing. When you purchase a vehicle, sales tax is due immediately. However when you lease, sales tax is only payable on your capital cost reduction (down payment), and on the monthly payments.
Because you are only paying for the portion of the vehicle you use, and because your monthly payments are lower, you may be able to afford to lease a more expensive vehicle than you could purchase.
Because of lower monthly payments and defined lease periods, you can get into new vehicles more often.
Many lease periods parallel the timeframes for manufacturers’ warranties, allowing you to have warranty coverage for as long as you drive the vehicle.

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We'd be happy to provide more information to help you feel more confident in your decision.

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