- #LEASE VERSUS FINANCE CALCULATOR INSTALL#
- #LEASE VERSUS FINANCE CALCULATOR DRIVER#
- #LEASE VERSUS FINANCE CALCULATOR UPGRADE#
#LEASE VERSUS FINANCE CALCULATOR INSTALL#
Can I add accessories to my car? To install any accessories, you first have to inform the company and get an email approval. While buying a car, there is no such limitation. If you exceed these caps, you are penalized with additional costs. Biggest disadvantage? Caps: There are caps on kilometres allowed in a lease car in a month. Convenience: You don't have to take the car to the garage as someone else takes care of the maintenance of the car, not having the hassle of filing for insurance claims because the leasing company does that, and the convenience of not having to sell the car at the end of four or five years because the car automatically goes back to the leasing company.
#LEASE VERSUS FINANCE CALCULATOR UPGRADE#
Upgrade your model: Moreover, you have the flexibility to upgrade your model and once the lease scheme is over, you can return the car to the company and get another of your choice. This is a clear saving and you can employ this cash elsewhere. No down payment: You need not to make any down payment to lease the car. Overall, Rs 5,19,600 will be deducted from your taxable income, and you will be liable to pay tax on Rs 20,59,600 only.
#LEASE VERSUS FINANCE CALCULATOR DRIVER#
Of this, Rs 4,80,000 is your car lease amount, and another Rs 39,600 is allocated towards car maintenance, insurance, fuel and driver allowance. For example, your salary package is Rs 25 lakh per annum. If the lease rental of the car is part of your salary package, it means the lease amount would be reduced from your salary before taxes are paid, thereby reducing your taxable income and giving you a considerable tax advantage as compared to someone who hasn’t opted for this benefit. What is the biggest USP? The tax advantage: Such a model works well for salaried class as you get a tax benefit of up to 30% annually and you can claim the entire rental as an expense. The minimum lock-in period is 2 years, and the maximum is 5 years. The instalment amount you pay for leasing a car includes insurance charges. Once the usage period is over, you can surrender the vehicle to the owner and stop paying your instalments. Car leasing follows the pay for usage model where you pay only for the period during which you use the car. You don’t have to spend anything extra on regular vehicle maintenance and repairs. When you lease a vehicle, the maintenance of the vehicle is done by the company that owns the vehicle. These instalments include the cost of the vehicle, insurance, maintenance, and other recurring costs. You will have to pay monthly instalments for as long as you keep the car. How does leasing work? Leasing allows you to take home a new car without the hassle of owning it, or without even having to make a down payment. So, what can you do instead? You could either buy a second-hand car or simply lease a brand new one.
Diwali is round the corner, and you want to buy a new, flashy SUV, but the idea of shelling out Rs 20 lakh for it, is giving you second thoughts.
0 kommentar(er)
