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Operating Lease

An Operating Lease enables the lessee to utilise income producing assets such as motor vehicles, without taking the risks associated with owning them. When used in conjunction with selected fleet management services, it gives you the ability to budget your finances and plan effectively by knowing the cost in advance of running your vehicle and without any residual payout at the end of the lease term. Under an Operating Lease, the finance company retains ownership of the vehicle but provides full use of the vehicle to the lessee in return for a single monthly rental fixed for the term of the lease with each rental calculated according to a term and distance that matches the needs of the lessee. At the end of the lease term, the vehicle is simply returned to the finance company in good condition as stipulated in the lease agreement and the lessee’s finance obligation ends.

 

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