Limousines are supposed to come in a variety of shapes and sizes. There is a perfect limo for every occasion or every group size right from the quintessential super-stretch to the latest gigantic ‘Hummer’ models. You would surely be fascinated to go through the inside options as they are lavish and abundant. You could have a nice bar, advanced communication as well as interactive entertainment hubs. In order to stay way ahead of the competition, Limo companies are coming up with diverse features and provide state-of-the-art facilities.
Suppose your business necessitates transporting your esteemed clients from one destination to another, you could consider leasing a luxurious limousine. Companies could be leasing the limousine and they would be having a couple of options. Businesses could opt for short-term leases that have duration from just a number of hours to a number of days and the entire process seems exactly like renting any car. You could alternatively consider taking a limo lease on a long term basis. This implies that the leased limo is your responsibility but even after several years, you would still not own it.
Is Limousine Leasing the Right Choice for Your Business?
Irrespective of what lease option you are considering, you would have to be fully responsible for safeguarding the car while it is in your custody. Limousine leasing could really prove to be a great investment if you need to transport many of your esteemed clients who have a preference and fascination for luxury vehicles and if you require transporting them pretty regularly. Or else, you could end up losing money. If you really rely on limousine services on a regular basis and thinking about a long-term lease agreement, you could consider comparing the cost of leasing as compared to the ownership cost. Sometimes, ownership could be a better deal. Browse through http://www.leasequit.com/ for effective car leasing solutions.
Short-Term Leases
The short-term leasing may involve lower monthly costs than the cost of purchasing the limousine. For the same vehicle, same down payment, and same term, monthly lease payments would often be lesser than loan payments. This is even true if compared to the 0 percent loans. If you are signing a short-term limousine lease, you must be careful while reading the contract. Go through all the details including what would be the cost of the lease, when to return the limo, or if there are any hidden costs or penalties. Find out if you have the necessary clause in the lease contract that allows you to drive a limousine leased for your business purpose. For utmost protection and safety for your business, you may purchase rental insurance. But keep in mind that some personal insurance policies are covering rental vehicles.
Long-Term Leases
The long-term expenses associated with leasing a limousine would invariably be more than the actual cost of purchasing it, assuming that the purchaser keeps his limousine. If a buyer retains his car after the loan has been repaid and drives for several more years, he would be spreading his expenses over a much longer term. It is pretty simple math. The cost of purchasing a limousine and using it for ten years or more would certainly be much cheaper than leasing a number of different cars during the same period. It is better to purchase a limousine and use it for many years if you are looking for long-term benefits.
What to Do? Leasing or Buying
This primarily depends on what you desire and what is really most important, as far as, you are concerned. With any long-term limo lease contract you would have to take all the responsibilities of ownership, but sometimes for low monthly payments. Remember if your limousine is damaged, you would have to pay a lot of money to the leasing firm. Examine the lease contract carefully to understand all the specifics of the contract including your responsibilities, maintenance, monthly payments and the condition precisely in which the car must be returned.
Picking a Limousine
You should always ask for a test drive, especially if you intend to take a long-term lease. Ensure that the firm leasing it out to you is well-regarded by the Better Business Bureau, and that it offers full transparency and written contract. The next step would be to see if you want a brand new or a used limo. In the long-term, a used limo will be better, but there could be issues with the condition or the feature set, compared to the contemporary brand new ones.