Welcome to Our Financing Department
Welcome to Action Auto Sales Inc.'s Finance Department, your loan and lease resource. We're eager to provide financing for your new inventory, or we can assist in financing. Check out our online loan calculator for an instant loan rate. Then, proceed to our online finance application.
All types of credit, from good to bad, can qualify for a loan. No credit, no problem! We will work with you to secure a no credit loan if your situation demands it. Action Auto Sales Inc. has strong relationships and is committed to finding you the perfect loan company to suit your finance needs.
Low interest loans are available for customers with existing loans. We can help you refinance your loan or adjust the term of the contract. You're just a step away from approved financing!
ADVANTAGES OF COMMERCIAL AUTO LEASING
For businesses, leasing may have significant financial benefits:
- Leasing a commercial / business vehicle is less capital-intensive than purchasing, so if a business has constraints on its capital, it can grow more rapidly by leasing property than it could by purchasing the property outright.
- Leasing a commercial / business vehicle may provide more flexibility to a business which expects to grow or move in the relatively short term, it gives a lessee more flexibly usually to renew the lease at the end of its term to help with the cost of the buy back. This will allow the lessee continue to use the vehicle as a expense.
- Depreciation of capital assets has different tax and financial reporting treatment from ordinary business expenses. Lease payments on a commercial / business vehicle are considered expenses, which can be set off against revenue when calculating taxable profit at the end of the relevant tax accounting period.
- When an automobile is used for business purposes, from an income tax perspective it is most beneficial if the vehicle is used 50% or more for business and has a cost not exceeding $30,000. When you lease, the deduction in respect of lease payments is restricted to parallel a similar dollar limit if the car were purchased. The limit on deductible leasing costs is $800.00 per month plus applicable federal and provincial sales taxes for leases entered into after 2000. A separate restriction prorates deductible lease costs where the value of the vehicle exceeds the aforementioned capital cost ceiling. If you are making personal use of a vehicle acquired for business purposes the taxable benefit relating to this personal portion is $.22 per kilometer. The government reviews rates and limits annually, and announces any changes prior to the end of the calendar year. It's not uncommon to make an up-front, down payment on the lease to lower the monthly payments, end of lease buy back, or both. Revenue Canada will normally consider such payment to be part of the normal lease charge in the year paid and therefore may be subject to a limited expense write-off.
- Get started by browsing through our current inventory of Used Cargo Vans and Trucks and when you think you've found the Cargo Van or Truck you're looking for you can fill out our easy on-line credit application and find out if you qualify. If you have any questions or concerns please call us at 905-548-6608 or contact us by email and we'll provide you with an answer to any of your leasing questions
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