The lease cost of a commercial vehicle can depend on several parameters. The following are some of the most important parameters that affect lease costs.
1. The purchase price of the vehicle: This is the basis for the lease cost. The higher the purchase price, the higher the lease cost.
2. The residual value of the vehicle: The residual value of the vehicle at the end of the lease term affects the lease cost. The higher the residual value, the lower the lease cost.
3. The lease term: The longer the lease term, the lower the monthly lease cost. However, a longer lease period can lead to higher total lease costs.
4. The expected mileage per year: The number of miles you expect to drive during the lease period can affect the lease cost. If you drive more miles than expected, this can lead to additional costs.
5. The interest rate: This is the percentage of interest you pay on the amount borrowed. The higher the interest rate, the higher the lease cost.
6. Service and maintenance packages: Some leases include service and maintenance packages, which incur additional costs. However, this can also provide lower maintenance costs and less worry about unexpected repairs.
7. Insurance: The insurance package for the vehicle may also be part of the lease contract and affect the lease cost.
8. Administration fees: Some leasing companies charge an administration fee for handling the lease contract.
The exact parameters may vary depending on the leasing company and the type of lease you enter into. It is important to understand and compare these parameters when signing a commercial vehicle lease contract to get the best deal.
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