As a business owner or an aspiring entrepreneur, it is important to lay a good foundation for your business. With limited resources, most business owners spend their capital to purchase machinery or inventory and hire labour, which are two very vital parts of the business. But what about the commercial vehicle needed to transport your goods and staff to ensure your business runs smoothly? As an aspiring entrepreneur or if you’re a business owner in the midst of scaling your operations, you might be undecided if you should buy or lease a commercial vehicle in Singapore.
Whilst owning a vehicle comes with the upside of having full ownership, leasing has many benefits and can make a lot of sense for many different types of business owners. At Pan Pac, we help our clients focus on expanding their business, whilst we take care of their fleet. With a variety of vehicles in our fleet, we can help you find the right type of commercial vehicle you need. In this article, we shed light on the benefits of leasing a commercial vehicle in Singapore and how it can make sense for your business.
No upfront payment
It is common knowledge that leasing a vehicle instead of buying one for the business cuts down the capital required to run the business. This is very beneficial to business owners who are just starting out who have a limited amount of capital. The capital that would have been used for the vehicle down payment can be used to purchase inventory and equipment and even hire extra staff to scale your business quicker. The lease amount payable every month is between 30% to 60% of the value of the vehicle which is way cheaper than acquiring a new vehicle. This allows you to utilise the savings from buying a vehicle on other vital assets required by the business.
Upgrade to new vehicles more often
If your business involves working with the public in any way, then a well-maintained looking vehicle carrying your company’s name enhances your brand name as well as impresses your clients. When leasing a commercial vehicle with Pan Pac, it is easier to upgrade to a new model of vehicle without the hassle or the paperwork. This allows you to upgrade to a new vehicle with upgraded features and present your business well, but not wasting precious time on the paperwork of selling and acquiring vehicles.
No down-time on maintenance
When you lease with Pan Pac, in case of any vehicle break-down, we will be there at the breakdown site to tow your vehicle for repairs and immediately arrange for a temporary replacement vehicle, so you don’t lose precious time on your business operations. If you own a vehicle, any type of break-down will impact your business operations as you would have to postpone or incur extra costs to find a replacement vehicle. All our vehicles at Pan Pac are well maintained regularly and pass our rigorous safety inspection. The maintenance of the vehicles is undertaken by us, and this is a cost you will be saving when you rent a commercial vehicle at Pan Pac instead of buying one.
To put it simply, leasing commercial vehicles in Singapore can save time and cost for a business and help you scale your business quicker. To find out more about further benefits and offers for our customers, contact our friendly team at sales@panpacificleasing.com.sg.
