Find Great Ford Lease Deals With Us

Are you a contractor or a small business owner looking for a Ford in Brampton, Ontario? You may not be sure whether or not it’s better for your bottom line to lease or buy. As your Brampton Ford dealer, here at Colony Ford Brampton we wanted to discuss your options as a small business. We have tons of leasing options for your Ford fleet, as well as new and used options.

The right decision is all about accounting; if you buy, you can claim depreciation of your assets to reduce your taxable income, while if you lease, your lease payments are likewise deductible. In Ontario, small businesses can deduct up to $800 /month, meaning they can reduce their taxable income by a total of $9,600 a year. By contrast, if you buy, the depreciation rate for your capital cost allowance is 15% in the first year, and 30% of the rest of the balance for every year that follows.

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Of course, if cash flow is an issue for your business, Ford leasing options are often the better deal. Your lease deduction means that it can often be better idea to pay a smaller down payment on a lease, while overall you can save on the vehicle, as you’re not paying for the residual when you return the truck to Colony Ford Brampton. These are just some of the conditions under which a lease is always a better deal:

•You want to be able to upgrade to a newer model in several years
•You don’t want to invest too much cash into a down payment
•You drive less than 15,000 miles every year, although consult with us if you need a commercial lease

While tax breaks for small businesses may make leasing vehicles the smarter option, especially if you require a fleet of vehicles, if you exceed the mileage in your lease contract or the truck sustains damage beyond what’s considered “normal wear and tear,” your business could face considerable fees at the end of your contract. When it comes to pick-up trucks used for your business, you have to look carefully at how you’re going to be using it. If you’re driving around to sites all around the GTA and beyond, your mileage can easily exceed the contract. If you’re in construction or the trades, or just hauling heavy loads, you run the risk of damaging the truck by loading and unloading. If that happens, you may have the option to buy out the vehicle rather than pay extra fees, but you can also buy a used Ford to begin with. Buying a used Ford at Colony Ford Brampton is an effective way to keep your budget under control and still get the vehicle you need to get to work. With our service and collision centre, as well as our diesel and heavy duty truck expert mechanics, you won’t have a problem keeping it well-maintained, either.
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