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Old 10th May 2019, 11:46   #241
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

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Originally Posted by Glass View Post
Looking for some advice.

As per current employer lease calculation for a small car, it appears that the IT saving of 31% on the car lease allowance is directly offset by the 31% of GST on lease amount.

Am I missing something here? Thanks.
31% GST is part of Ex-showroom price. Even you buy the car on your own, you have to pay 28% GST. So you loose only 3%. Chances are that the lease company would match the ex-showroom price by lowering basic rate. Do confirm with your lease provider.
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Old 10th May 2019, 12:22   #242
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

Thanks, I thought the calculator provided was based on the same ex-show room price as for regular purchase - let me check with the lease provider and get back.
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Old 17th May 2019, 00:03   #243
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

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31% GST is part of Ex-showroom price. Even you buy the car on your own, you have to pay 28% GST. So you loose only 3%. Chances are that the lease company would match the ex-showroom price by lowering basic rate. Do confirm with your lease provider.
I have confirmed this, you are right.

It appears the GST gets deferred for the one taking the lease. There will of course be extra GST on the mark up of the lease provider.
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Old 8th June 2019, 11:34   #244
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

Thanks GTO,
That post was an eye opener. Also the link to the two leasing company has broadened my scope. I have a fleet of 15 vehicles from scooters, to bikes, to cars to heavy goods trucks. Leasing a added benefits will surely let me work out my economics better. Take a bow! You deserve my standing ovation.
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SS
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Old 13th June 2019, 09:14   #245
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

Pardon for the noob question. How does the lease program from Hyundai and Mahindra differ from Orix and others? Does it apply to individuals?
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Old 19th June 2019, 15:16   #246
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

Just wondering , what happens when an employee who has taken a car on lease from his employer dies ? Does employer (lessee) settles it with the lessor ( e.g. oryx) directly ? What if the outstanding amount is more than what the employer owed to their employee as part of the settlement ? Car loan is a debt but is car leased a debt from an employee's perspective ?
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Old 26th June 2019, 16:50   #247
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Default Re: ARTICLE: Lease OR Loan? Which EMI is better for you

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Has anybody made use of Maruti's N2N lease option for Corporate /self employed users?
Bumping this up. Guys, Can anyone share their experience of N2N? Helping out a friend who's interested to lease a car for business.

Car in question is an Eeco 5Str AC + CNG. Any alternatives? Looking only at options that include maintenance and tenures of 36-48 months.
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