Companies in the automotive sector have launched a new offer aimed at small and medium-sized companies so that they can increase or renew their automobile fleet. It is distinguished by the variety of models and functions that they can develop: from specialized industrial vehicles such as refrigerators or armored vehicles to the most common ones for commercial transport that are represented by vans that provide the latest technological innovations.
Another aspect that you must take into account are the different forms of financing that exist to acquire these vehicles: classic credits, renting or leasing. And, of course, the new existing tax system, a substitute for the current Registration Tax.
Automobile companies offer entrepreneurs and SMEs the possibility of choosing between different financing modalities, such as leasing (rent with the option to purchase), renting (long-term rental), classic credits or payment for use, a formula that makes it possible to dispose of the car on the spot, with a final installment and guaranteeing its future repurchase value in writing.
Financing of up to 100.000 euros
In this sense, most financial institutions have specific credits to obtain this financing, which can advance you up to 100.000 euros in a repayment period that ranges between 2 and 6 years, in which you can finance up to 100% of the value of the vehicle through two modalities, on the one hand applying an interest rate referenced to Euribor plus approximately 1% or a fixed interest rate where your quota will remain unchanged and you will always pay the same, regardless of whether interest rates rise or fall .
Own credits. The dealers themselves also have this financing service for companies, in which they provide you with the necessary loan to hire them. Fiat, for example, has launched the so-called Professional Formula, a purchasing system with multiple solutions for your needs. Using this formula, you can purchase a commercial vehicle (Ducato or Scudo range) with a reduced financing fee of 3 years, with another 3 years of warranty and maintenance. Volkswagen Credit, for its part, also offers financing for company vehicles with flexible rates and conditions that make it possible to set monthly installments to suit you and a deferral of up to five years.
Classic credits
The vast majority of automobile companies offer the possibility of subscribing a credit for companies through the department that they have destined for this commercial segment. The contract period normally ranges from 6 to 84 months. With this modality you can choose the duration that best suits your needs and that allows you to obtain the loans instantly with the minimum of paperwork, without the need for entry for new vehicles, through financing and payment method adapted to your needs.
There are specific loans intended for certain labor groups, such as Citroën Financing, which provide the self-employed with financial mechanisms to protect themselves from financing. On the other hand, one of the latest products to reach the market is the so-called “CQD ·, Nissan's new flexible purchasing system in which you can freely decide at the end of the contract, which option is best for you: change, stay or return the vehicle.
Leasing
It is a financial lease that allows you to dispose of your vehicle against the payment of a periodic rent. Includes the purchase option at the end of the agreed duration, in case you want to keep the vehicle. Through this system you can rent a long-term vehicle, paying comfortable monthly installments. At the end of the contract, you can also choose between returning the vehicle or purchasing it in exchange for the payment of the residual value agreed in the contract. You also know from the beginning the final value of the vehicle, in addition to enjoying the economic and tax benefits of this economic operation.
Its advantages include the following:
- You have a purchase or return option at the end of the contract.
- You have a fixed fee for the entire contract.
- You do not contemplate any mandatory minimum entry.
- You can finance the entire investment.
- Tax-deductible.
- Tax advantages when obtaining an accelerated amortization.
- You can finance the entire investment since you do not require a minimum entry.
Renting
Renting (long-term rental with all services included) is a comprehensive service that covers all aspects related to the vehicle. Its objective is to facilitate the use of the car, not its purchase, in the best conditions and with the most complete service possible. Due to this, for a fixed monthly rental fee, it allows you not to worry about the management of the vehicle since all the benefits and services are included.
They find a series of tax and accounting advantages, among which are the following:
- It allows you to know the cost precisely.
- There is no economic risk in terms of residual value, nor in the costs for all the added services (repairs, maintenance, assistance ...)
- There is no VAT financing.
- There is no risk of tax requalification.
- It is not subject to the fiscally admitted repayment terms.
What steps do you have to take?
Choose the type of financing that best suits your needs.
Calculate the fees through a simulator with the amount you need.
Apply for financing with the company or entities you have selected.
Read the contract carefully so as not to take any unpleasant surprises into account the interest rate that you will have to pay or the commissions that you will pay.
Some companies allow you to hire them online.
And, finally, you can go to your financial institution where you can get a loan under preferential conditions.
Taxes
Light commercial and industrial vehicles will be exempt from the so-called green taxation, a substitute for the current Registration Tax, and will only have VAT charged.
There are deductions in the IS for the acquisition of an industrial vehicle that meets environmental characteristics that are not yet mandatory.
These deductions, from the entry into force of the modification of the IS, will be reduced until their total disappearance as follows:
The deductions regulated in articles 36, sections 4, 5 and 6 of article 38, articles 39, 40 and 43 of this Law, will be determined by multiplying the deduction percentages established in said articles by the following coefficient:
0.8, in tax periods beginning on January 1, 2007.
0.6, in tax periods beginning on January 1, 2008.
0.4, in tax periods beginning on January 1, 2009.
0.2, in tax periods beginning on or after January 1, 2010
Tax advantages in leasing and renting operations:
- Tax-deductible.
- Tax advantages when obtaining an accelerated amortization.
- There is no VAT financing.
- There is no risk of tax requalification.
- It is not subject to the fiscally admitted repayment terms.
Vehicle offer
To expand your company's vehicle fleet, you can take advantage of the extensive offer that motoring companies have in the market. Most brands have commercial and industrial vehicles (Citroën, Fiat, Ford, Volkswagen, Renault, Nissan, among the main ones) that can be used for the various activities that your company has. As a consequence, you can find yourself from traditional vans to more specialized vehicles depending on the activity you carry out.
Among the offer that the automotive sector presents, the models that are more specialized stand out. One of them are isothermal vehicles whose body is built with insulating walls, including floor and ceiling doors, which allow limiting heat exchanges. Another variant is represented by refrigerated, isothermal vehicles that, with the help of a cold source other than mechanical or absorption equipment, allows the temperature inside to be lowered and maintained; refrigerators that are equipped with a device for producing cold, and that allows you to lower the temperature inside the box and keep it at constant and calorific values provided with a device for producing heat, which allows you to raise the temperature inside the box and keep it at constant values.
These are some examples of what the sector is proposing for this new year, but each brand has a differentiated offer according to its commercial approaches. Undoubtedly, vans continue to be the main sales claim to the business sectors, although in recent years vehicles that cover almost all professional activities have been marketed with great success. These are the novelties that the main international brands have launched for the new season.
Tips to decide
Search among the entire offer for the model that meets your real needs as an entrepreneur, neither more than what you require nor less than what you need. Compare between the different models, selecting the one that provides the best benefits. Carefully analyze the characteristics of each vehicle Since some functions that they may have, although you do not need it at the moment, you may demand it in the future. You can base yourself on the opinion of a transport expert who can help you choose the most suitable model for your interests.
Check the latest arrivals on the market, which although they are the most expensive, they are also the most complete and also have the latest technological advances.If they are vehicles to transport people you must be very clear about the maximum occupancy that you are going to have already This class of vehicles vary a lot depending on their capacity, on the contrary, if your choice is a van you should know that the offer is very wide, so it is necessary that before your purchase you know what functions or load you need to undertake your activity.For industrial vehicles, the ideal is to go to the dealer properly advised, since the characteristics of these cars require eminently professional approaches.
Although you can go to the second-hand market to expand your fleet, the most reasonable thing is that you acquire the vehicle through the new models that are coming onto the market. In principle they are more expensive but over time you will be able to amortize it adequately And, finally, do calculations to determine which is the best financing for your interests, which is the repayment term that best suits your needs and the interest that you will owe pay over the next few months.