19764 Langley Bypass, Langley, BC V3A 7B1

Sales: (604) 533-7881 Toll-Free: 888-202-8064

2016 Kia Optima | Applewood Langley

Open Ended & Closed Ended Fleet Leasing for New or Used Cars in Langley BC

Unlike some other leasing companies, Applewood provides flexible financing for both risk and non-risk situations. We also give personal attention to help you choose between fixed and floating financing options.

Contact our fleet manager today to arrange an appointment to discuss fleet leasing options, or contact our Fleet Department at 1.800.219.8679.

Open-Ended Commercial Leasing

  • Appropriate for corporate fleets of more than 5 vehicles
  • Lessee assumes risk of depreciation, but generally pays less per month and has more flexibility

Rental Car Customers usually prefer to take advantage of short-term, open-end leases to maximize margin and control cash flow. For larger-order rental operations, we can also offer attractive guaranteed repurchase programs.

Our Open-Ended fleet leasing programs are a popular choice for companies looking for the most flexibility of ownership and cash flow.

Open-End Leases:

  • Free up capital for other investments or expenditures
  • Allow owns to show the minimum lease payments off the balance sheet, within the notes
  • Allow many customers to expense monthly lease payments and eliminate up-front tax fees
  • Allow you to match depreciation with actual driving patterns and market conditions
  • Depreciation can be adjusted if trends change
  • Eliminate surprises on the back end. You are responsible for principal balance instead of market value
  • Give you a menu of lease structures to optimize cash flow

Open-Ended Leasing Rates

Applewood offers a choice between floating and fixed rates for Open End leases, giving commercial clients the most flexibility.

Floating Rate Open-Ended Leases

Applewood uses the Libor and Prime indices to determine floating rates. The interest portion of your rate adjusts to reflect changes in base rates. The Libor rate adjusts monthly, while the Prime rate adjusts for the next billing cycle after every rate change.

Fixed Rate Open-Ended Leases

Fixed rates remain constant throughout the lease term, and are established when you sign the lease. Both Level and Step payment options are available. The Level payment is based on an amortization table that establishes the depreciation and interest charge for that month. Each month your principal reduction increases while your interest charge decreases, resulting in fixed level payment.

Closed-End Commercial Leasing

  • Appropriate for smaller fleets, individuals, and government customers
  • Lessee assumes less risk for deprecation, but is charged more monthly

A Closed End lease is a great choice for those who want to minimize risk and prefer a defined termination point for their lease. It's also known as a "Walk Away Lease," because that's what you do at lease-end. Simply return the vehicle within the terms of the agreement with regards to mileage and wear-and-tear. Generally, a closed end lease is a good option for clients who:

  • Have low, predictable mileage habits
  • Will not terminate prior to lease term

In Closed-End Leases:

  • Depreciation risk is assumed by the lessor, (Applewood)
  • The lessee pays for abnormal wear-and-tear
  • The lessee pays for any excess mileage, (terms are negotiable)
  • Less flexibility in terminating prior to the agreed-upon lease term

Commercial Leasing Rates

Our fleet experts will help you determine pricing and residual value so you get the best value for new or used cars in Langley BC.

Applewood Kia Langley 19764 Langley Bypass, Langley, BC V3A 7B1