How to Lease Cars for Company Use

Leasing cars for company use is necessary if you have a large fleet of vehicle that your business must update on a regular basis. Leasing has many benefits for companies, because leases have a fixed term, after which the vehicle must be returned to the lender. Many lenders offer leases for company cars, ranging from manufacturer-backed finance companies like GMAC and Mercedes-Benz Financial to independent banks like U.S. Bank and Chase. Once you know the type of vehicle your company needs, negotiating the lease and taking delivery of your vehicle is easy.

Instructions

1

Select your vehicle. Do research online or in person at dealerships to find the vehicle that best fits your business needs. Depending on the type of vehicle your business needs, there may be many vehicles to consider.

2

Contact a fleet manager. Once you have a short list of vehicles and option packages that work best for your needs, contact the fleet or Internet sales managers at local dealerships. The fleet or Internet manager likely has a pay plan that rewards volume, not profit, on each sale, so they are used to selling large numbers of vehicles for low per-unit profit margins.

3

Request quotes. If you are leasing a vehicle for company use, there is some additional information you must have. First, think about how long you want your company to have the lease vehicles. Lease terms usually range from 24 to 48 months, but shorter and longer leases are available. Also think about the mileage you will need on each vehicle. Choosing a lower annual mileage allowance per vehicle will give you lower monthly payments, but you will have to pay excess mileage charges if you go over the contract mileage. On the low end, leases allow 10,000 miles per year, up to a high of 20,000 miles per year.

4

Compare quotes. After getting quotes from multiple dealerships, compare the offers made by fleet managers. Compare the equipment on each vehicle you are considering. For example, Volkswagen Credit may have a special lease offer on the Jetta that lets you get more options on a vehicle for a lower monthly payment than a lesser-equipped Chevrolet Malibu leased through GMAC.

5

Make a choice. Once you determine the lease offers that best fit your company's needs, contact the fleet manager and let him or her know your company will be leasing the vehicle from his or her dealership. You may be required to sign a buyer's order and fax it back to the dealership to show your intent.

6

Complete the paperwork. Visit the dealership and complete the paperwork for your purchase. If the dealership is located away from your home area, the dealership may overnight the paperwork so you can sign and return it in a timely manner.