PAR Leasing look to make the process of selecting and running an Operating Lease as simple as possible, PAR Leasing will look to consult with you and offer advice and expertise on all steps through the lease process.
The Operating Lease Process
1. Evaluating Your Fleet
PAR Leasing will partner with you to evaluate your requirements in regards to your fleet, taking into account:
- Fit for purpose
- Any other special considerations for your business
Using this information and working with you PAR Leasing will provide you recommendations to you on type of vehicle, Manufacturer and lease terms for you to consider.
PAR Leasing will then work with you on implementing this within your business and regularly reviewing your requirements and best fit for your business.
2. Quotes and Contracts
- PAR Leasing will then provide you with quotes on the vehicles and terms agreed upon, using our relationships and network of dealerships to provide you with the best pricing available.
- Your business will need to complete a credit application, once this has been approved and all contracts are agreed and signed by relevant signatories, PAR Leasing can then place the order on your vehicle(s).
3. Vehicle Delivery
- The dealer working with PAR Leasing will liaise with you regarding the delivery of your vehicles.
- On or as close to delivery as possible you will receive fuel cards and e-Tags for use with the vehicle, reducing your administration and hassles.
Frequently Asked Questions
1. How would I know if an operating lease is right for me?
- If you are wanting to release capital into your business, and not have the risk of owning, managing and disposing of vehicles, then an Operating Lease could be the solution you are looking for.
- PAR Leasing, under an Operating Lease, takes on the risks of the residual value, vehicle disposal and administration in regards to managing the running costs of your vehicles.
- By partnering with PAR Leasing you are able to provide your business and employees with current modern, safe and image appropriate vehicles at low cost and low hassle. Allowing you to focus more on growing and developing your business.
2. Will an operating lease mean more administration?
- No, in fact it will reduce your administration requirements in relation to running your fleet vehicles. PAR Leasing take on the management and administration in relation to the services it provides to you and your business. All of these costs are combined in the one monthly invoice that you receive, meaning you just have one account to pay and not multiple vendors and suppliers to manage, pay, and reconcile.
- You will have the freedom to concentrate on your business and reduce costs.
3. What is the difference between a finance and operating lease?
The Future Value of the asset:
- Under a finance lease, the value is determined by residual value limits set by the Australian Tax Office and is linked to the term of the lease.
- Under an Operating Lease the value is set by PAR Leasing, and takes into account the vehicle, the term and the kilometers travelled.
- Under a finance lease, these may not be included, and if they are they are budgeted and at the cost/risk to your business.
- Under an operating lease they include Servicing, Replacement Tyres and Registration, which are included in the monthly rental paid, these are guaranteed by PAR Leasing.
4. What vehicles can I rent under an operating lease?
- You are able to lease any vehicle make or model available in Australia.
5. Can I set up an operating lease for a car I own?
- Yes you can. PAR Leasing offer this via what is called a Sale and Leaseback arrangement. PAR Leasing buys the vehicle from you at an agreed value and then leases it back to you at the agreed monthly rental.
- This allows you to free up capital that you have tied up in vehicles and use it for other projects within your business, and reduces risk and exposure to your business on owning the vehicles.
6. Can PAR Leasing source for vehicles?
- Yes we can. PAR Leasing sources the majority of the vehicles for its customers, using its solid relationships and extensive dealer network, ensuring that we are providing vehicles to you at the best price.
7. What is the average duration of an operating lease?
- An operating lease term lasts between 12 and 60 months, depending on your needs.
8. Who will own the car at the end of the lease?
- Under an Operating Lease the ownership sits with PAR Leasing, and they take on all the risk associated with the ownership of the vehicle.
9. Can I purchase the vehicle at the end of the lease term?
- PAR Leasing will discuss this with you at the end of lease if this is something that you are interested in.
10. Can I fit the vehicle with accessories?
- Yes, accessories can be fitted to the vehicle, but this must be done at the beginning of the lease period. Please inform us of the accessories you wish included on the vehicle during the quotation stage.
- The monthly payment on an operating leased vehicle includes:
- Fuel card and
- Roadside assistance
Want to learn more or arrange a free quote?
Call Now: 1800 532 732