Find Great Ford Lease Deals With Us

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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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