You missed a few details about a lease program. 1) The lease period also includes a mileage number and if the ending mileage is over the limit it is bought at a very high rate. 2) Return condition is basicly new and any wear and tear is also bought at a high rate. 3) The vehicle is not a asset but a liability when you attempt to get a loan.
For businesses it fine as all of these cost go on the balance sheet and whoever is driving the vehicle has a pretty new vehicle all the time. It works really well if a maintainence program goes along with the lease.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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