Smartfleet is proud to be one of the few fleet management providers that can handle all types of finance. For you, that could mean one fixed, regular payment for all your fleet and running costs.
Giving you the flexibility you need
We can help simplify and streamline your fleet finance, which can often feel overwhelming. You’ll get flexibility, with a variety of financing options to choose from, and a solution that’s customised to you and your organisation.
By taking advantage of our fleet finance options, you’ll be able to choose the finance type and a term length that suits you best. We’ll simplify your finances by sending you a single monthly invoice. And you can even add your running costs to your monthly bill with a budgeted maintenance amount. Or if you prefer, you can set up variable maintenance charging, instead.
We can consolidate all of your expense data (even if it’s coming from multiple sources) into one streamlined system within our management software, so everything you need is under one roof. This can even include details of any expenses which you manage on your own. That way, everything will be kept up-to-date and accurate in our database.
Now, let’s take a look at some of the finance options you can choose from.
Operating Lease
An operating lease gives you the opportunity to use a vehicle without taking any ownership of the asset. You can set your lease term between one and five years and you’ll have a fixed payment amount each month. There’s no deposit necessary, so you won’t have to outlay big money upfront, and your regular payments will be tax-deductible. Once your lease ends, you’ll be able to return the vehicle, or swap it out for a new one.
We’ve found that operating leases work best if you’ve got a large fleet and you have an accurate idea of how much you’ll drive your vehicles. Plus, you’ll need to take reasonable care of them, so they remain in good condition by the end of the lease term.
Finance Lease
Like an operating lease, a finance lease has no deposit and a term between one and five years. However, with a finance lease you’ll have a stake in ownership, where you’re effectively paying the vehicle off during the term. You won’t face any penalties based on the vehicle’s condition – or if you drive more kilometres than you originally estimated.
Once the lease term ends, you’ll have a few available options. You can pay out the residual value and own the vehicle outright, or you can refinance and extend the lease term. Or alternatively, you can arrange to upgrade to a new vehicle and we can assist with sale of the current vehicle.
A finance lease is best suited for you if you’re likely to keep your vehicles longer than the original term. And it’s the ideal solution if you want greater control over the turnover of vehicles in your fleet.
Commercial Loan
If you decide to opt for a commercial loan, you’ll receive funds to purchase the vehicle. You’ll have the option for a flexible term length, and your finance and running costs can be combined into a single fixed, regular payment. Any costs related to interest and depreciation are also tax deductible.
A commercial loan could suit you if you’re registered for GST and your organisation operates on a cash accounting basis. And it might be the way to go if you expect to keep your vehicles for a shorter amount of time.
Streamline your finance
If you’re looking for support with streamlining your fleet finance, then make sure you choose the option that makes the most sense for you and your organisation. And if you need some more details on how it all works, we’d love to help you out – get in touch with us today to discuss your fleet’s unique needs.