Is difficult bus financing keeping you from purchasing a new mini bus? There are options available right through your vendor whether you are looking to lease, finance, or pay in full. Buying any kind of vehicle can be a daunting task, especially when you involve more professionals than you have to. Outside financing when buying commercial mini buses just adds to the hassle, frustration, and the possibility of miscommunication into the already stressful equation of making a large capital investment.
Streamlined Purchase Option
When you work with one company who supplies both the product and the financing, the transaction is streamlined. This is a very simplistic way to look at it, but it works - consider buying and financing your purchase through one company like the purchase and servicing of a car through one dealership. When you consolidate the number of parties involved, it can save you the time of searching for another provider. It's a symbiotic relationship and one that can successfully occur for years.
Once you have picked out the bus you're interested in, you can then discuss the financing options that work best for you all in one visit. It’s one stop shopping at its best! If you do business with a well-established company, you benefit from dealing with someone who has years of experience in the business of selling quality mini buses. You also benefit from their financing know-how and the time-tested knowledge to best match a customer with the right financing program.
Your Finance Options
There are many financing options available from a straight purchase with traditional financing to leasing with the option to buy. Leasing could very well be the best option as there are different programs, which may mesh perfectly with your goals. Here are a few options that you should consider:
- Lease for a minimum of two years and turn the bus in at term end
- Lease with the option to purchase
- Lease purchase where you own equipment at end of lease
- TRAC lease that allows the option to purchase your mini bus for previously agreed amount
There may also be attractive tax benefits available depending on your company status. For those large purchases, there is the option to own the vehicle in full. This can be done by paying the entire sum upon delivery or by submitting a down payment with monthly sums after that. As with any finance option its best to talk to a professional before you make your final decision. They’ll know the nuts and bolts of the industry and be able to update you on the current market. But no matter the option you choose, dealing with one company makes the entire buying and financing experience a lot less stressful than pulling in outside banks, leasing companies, or other forms of financing. You'll save a lot of time and hassle that can be best used elsewhere in your business.