Common Fleet Leasing Questions

By: Quest Automotive Leasing Services   |   30 Aug 2022
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Expanding your business comes with a level of stress, tenacity, and uncertainty that even the most successful entrepreneurs know all too well. However, not only is it a necessary part of success, but it’s also a rewarding part of being a thriving business owner. One key aspect of growing your business is expanding your commercial fleet. With more business comes a greater reach, which means more vehicles to transport your job site equipment or get your deliveries in on time. Here at Quest Auto Leasing, we’re no stranger to working with businesses as they navigate expansion. That’s why we recommend leasing your commercial vehicles as a simple means of dipping your toe in the water. After all, leasing your fleet comes with greater benefits to your business than financing or buying outright. Having worked with countless businesses, we’ve compiled our most asked questions when it comes to commercial fleet leasing so you can get a better sense of what you’d be getting you and your business into.

What are the benefits of fleet leasing?

Leasing is a great way to minimize costs while allowing you to grow and adapt with your fleet without being tied down as you would with financing. Industries are ever-changing, especially during these uncertain times. So, leasing is perfect for businesses looking for that extra flexibility.

What industries are best for fleet leasing?

Whether you’re looking for fleet leasing, commercial rentals, repairs, or upfitting, Quest Auto offers a full spectrum of commercial fleet services for the GTA’s booming industries. From courier services and HVAC to construction and landscaping, we offer a continuously updated and extensive inventory of commercial vehicles customized to your industry. We ensure your fleet is managed and upfitted so your business can perform its very best while delivering flexible financing, leasing, and purchasing options.

Can I lease a fleet customized to my industry?

Absolutely! When businesses opt for customized fleet leasing, they get more control over the life cycle of their fleet vehicles. Upfitting with the installation of things like telematics, industry equipment, etc. will ensure that businesses get the most out of their commercial vehicles.

What is a closed-end lease?

When many customers come in with the intention of leasing commercial vehicles, open-end leases are often the norm. But depending on your situation, a closed-end lease might be more preferable. Closed-end leases allow you to easily budget your fixed lease payments without any residual risk. This means that when you decide to start a closed-end lease at Quest Auto, our job is to assume the risk for the residual value at the end of the lease. Rather than negotiate the GRV, you get the option of either returning the car at the end of the lease or repurchasing it. You’ll just have the pay any damages that occurred during your lease.

Can you factory pre-order a leased fleet?

Of course! When you pre-order a vehicle fleet, you don’t have to worry about the pickup trucks you’ve been eyeing being out of stock or having to select from what the dealerships think will be the most popular. Pre-ordering from the factory allows you to easily order your fleet vehicles in bulk, all with similar configurations that best suit the needs of your business.

Can you lease EV fleets?

You sure can. While electric vehicles do cost more than engine vehicles, their superior efficiency, the moderate price of electricity, and the high utilization of fleet vehicles allow fleet operators to quickly recoup the extra up-front cost of an EV and achieve a lower total cost of ownership. Not to mention, provinces across Canada offer incentives and rebates to businesses that choose EVs for their fleets, including free chargers, tax deductions, and an average of $6,500 in rebates per vehicle.

Expanding your business doesn’t have to be a daunting experience. Let Quest Auto Leasing handle your commercial fleet leasing and watch your business thrive! If you have more questions about commercial fleet leasing, vehicle upfitting, factory orders, or anything else, don’t hesitate to contact us today! One of our leasing experts will be happy to help!

 

 

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