It is not uncommon for one of the perks of being in the C-suite in any corporation or company is the use of an executive car. This not only provides a uniform look for corporate executives in their vehicles, but it is also a lower cost option for the company than reimbursing executives for the use of their personal vehicles.
Some companies may actually purchase vehicles for use by the executives. However, this is often not a cost-effective option and will typically end up costing the company money. A better option for both small and large companies is the option to use a fleet car lease program.
There are several reasons to choose a fleet car lease program over buying vehicles. By taking a closer look how these issues apply to your executive vehicle needs is will be easy to make a case for this choice.
Leasing executive vehicles mean the company is only required to pay a small initial amount on the vehicle, then a monthly amount that is pre-determined on the vehicle. This all occurs without the company taking on any more debt or having to dip into their profits to purchase vehicles outright.
It is also important to realize that the lease option provides no negative impact on the company financials. This is often a critical factor with small to mid-sized corporations.
For fleet managers, the additional of a fleet car lease for the executive cars removes almost all of the paperwork and administrative aspects of managing this part of the fleet. This is done by the fleet leasing service company, with all recordkeeping, maintenance schedules and other documentation required for the vehicles.
Upgrades are Easy
When leasing rather than owning, upgrading the executive fleet or just a few cars is no longer a long process. Instead, the fleet manager simply contacts the leasing company and provides information on the make, model and options required.
These attributes of leasing over buying make it a critical factor to consider. It is worthwhile to do the math and see how the two options compare.