Fleet Leasing FAQs
Fleet leasing effectively reduces fleet risk and costs. All your common questions about full maintenance fleet leases are answered here.
Fleet leasing is the best way for companies to reduce fleet costs and minimise risk to their business. Over the past few years most companies have been laser-focused on cutting expenses and no matter what size or type of fleet is needed, opting to lease instead of buy always has a positive impact on the bottom line.
Fleet leasing is not new in South Africa, but the increase in demand means companies now have access to more leasing options than ever before. Eqstra offers a variety of fleet lease options that can be tailored to suit the needs of each individual customer. Every business has its own specific fleet needs and it’s important to create a fleet leasing solution that consistently optimises performance, cuts costs, and removes fleet risk from affecting the core business.
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Why lease instead of buy?
Leasing means the risk of vehicle ownership does not rest on your core business. Benefit from preferential procurement rates; advice on the best-fit vehicle for the application, the lease includes maintenance, service and tyre replacement costs.
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What if I already own my fleet vehicles?
A sale and leaseback option takes place when Eqstra purchases your fleet and then leases the vehicles back to you. You continue to have use of the vehicles without the risk of ownership.
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Can I choose the exact vehicles to lease?
A key benefit to leasing through a professional fleet partner is that we have access to preferential rates with all major vehicle manufacturers. We will work with you to ensure all vehicles perfectly fit the purpose of your fleet and acquire them at the best possible rate, which translates into savings for your business.
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What if I need specialised vehicles?
We will source the exact vehicles you need and can help you with modifications if needed, all at preferential rates from approved and reliable suppliers.
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Can we purchase the vehicles at the end of the lease term?
Yes, this can be arranged at any time during the lease period.
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What interest rate do you offer on lease vehicles?
The interest rate depends on the customer’s profile, type and size of fleet, and how the lease agreement is structured. We do a full assessment for each client to find the most cost-effective solution.
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What happens if vehicles break down or need maintenance?
We take care of the maintenance, servicing and tyre replacements, all included in the monthly lease.
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What is ‘best practice’ or the most popular type of fleet lease agreement?
Full maintenance leasing is a cost-effective way to manage the costs associated with the acquisition, maintenance and administration of a vehicle fleet. With fixed monthly payments spread over the lease period, you can set your budgets accurately. You also have access to 24-hour support from our supplier network.
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Exactly how does leasing benefit my business operations?
Owning a fleet means regular unexpected costs and staff who are dedicated purely to fleet operations. Opting to lease means you pay a fixed monthly instalment and fleet operations no longer need to be done internally. This allows you to work on a clear budget for your business operations without the risk of unexpected fleet costs.
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How does leasing affect my finance department?
We can arrange no, or low, deposit terms depending on the exact vehicles you need. Lease vehicles are tax deductible in line with IFRS16, and you will receive full financial reports to support your finance requirements.
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Do I have full access to my lease vehicles?
Yes, this is still your fleet and its sole purpose is to support your core business operations. You still have full control over your fleet.
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Aside from reduced risk, what other benefits do you offer?
You will have access to insight into your fleet performance with regular reports on all key areas such as fleet and fuel costs, contract utilisation, speeding, frequency of incidents and traffic offences. This means you can make informed decisions on any changes needed to your fleet.
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Do you assist with driver management?
We offer all types of driver assistance from incentives and full driver management to recommending training if needed, especially if you have a specialised fleet.