Differences between financial and operational leasing. Operational leasing

Today, the phrase “operational car leasing” is becoming increasingly common. However, not everyone can boast that they know its exact definition.

Differences from rent

Operating leasing can be compared to long-term leasing, but in a slightly different form. The procedure for its registration includes several stages. First of all, there is a discussion of future cooperation with the client. Usually an entire company plays its role. Then specialists draw up an application for services.

The leasing company must thoroughly check all documents and financial statements of the partner company. Then a cost-benefit analysis of the project is carried out. Only after this, a representative of the organization transferring cars for use visits the client company. As a result, the credit council makes a decision on the advisability of cooperation.

A positive resolution means signing documents for operational leasing and paying an advance. Only after all procedures are completed in full, cars are leased for a period of up to two years. The further mechanism of operation of such leasing is quite simple. The lessee, after transferring the vehicle for temporary use, monthly transfers the agreed amount to the account of the lessor company for a certain period. After its expiration, the companion company must return the car.

When choosing a company offering operational car leasing services, you should pay attention to the success of the organization and how long it has been on the market. By the way, similar services can be provided by small organizations that are just starting this type of activity.

Features of operational leasing

It should be borne in mind that the minimum period of operating leasing is 1 year; car rental is issued for a shorter period. The main positive feature of operational leasing is that the lessee does not have to purchase the car at the end of the contract, because all problems associated with the car must be taken care of by the real owner of the car.

An excellent example of car leasing is the following situation. For example, a company that provides transportation services for weddings and other special events arranges several business class cars for operational leasing. During this time, he regularly pays monthly fees. When the contract comes to an end, the company representative has the right to make a request for the next leasing, but for new cars. Thus, transport pays for itself and also brings excellent income.

Thus, operating leasing is an excellent option for constantly updating your fleet without too significant costs. In addition, cars can be freely sold on the secondary market without additional investments.

It should be noted that operational leasing is quite in demand among managers of motor transport enterprises engaged in passenger transportation. You can take out inexpensive models for operating leasing, which are characterized by reliability and a low percentage of breakdowns during the first years of operation.

After two years, when such a taxi service has proven itself well among clients, it makes sense to switch to more luxury brands and attract VIP clients. This not only increases financial turnover, but also disseminates information about the company faster, which makes it possible to find new service users.

It is called one of which is characterized by the transfer of property by a leasing company for temporary use to the lessee. Let us note that the property, the ownership of which is owned by the lessor, can be any equipment, vehicles and special vehicles that are transferred for a certain period and under certain conditions to the leasing recipient. Upon expiration of the document (leasing agreement), as well as subject to full payment of the amount specified in the agreement, the leased asset passes into the possession of the owner. Throughout the entire period of operation of the leasing object, it can be fully and repeatedly transferred for rental use.

An agreement of this type of leasing is concluded, as a rule, for a period that is less than the period of standard operation of the leased asset. Thus, the lessor company is not going to fully cover the cost of the leased asset transferred to the lessee from only one concluded leasing agreement. Despite everything, monthly payments are significantly higher than with finance lease payments, since the lessor bears additional risks.

Interesting fact that the leasing company bears full responsibility for the condition of the leased item. That is, technical maintenance, and insurance is carried out by the lessor company, and not by the recipient of the leased object. Absolutely all risks of destruction or loss of property also fall on the shoulders of the lessor. The recipient of the leased asset has every right to terminate the contract with the company, but only if the latter has provided for use a leased asset that is out of order or unsuitable for use.

Upon expiration of the operating agreement, the lessee may:

• Return the property to the lessor;
• Exchange property for another;
• Conclude a new agreement;
• Become the owner of property by purchasing it.

What are the advantages of operational leasing?

Operating is a profitable financial instrument under certain conditions. The popularity of operational is due to the fact that with this type of property rental, the operational period is actually shorter than the depreciation period of the property. Operating leasing is beneficial to the lessee, since he has the right to return the property to the lessor ahead of schedule, and there will be no need to buy back the machinery or equipment at the residual value, as is done when registering financial leasing. It follows from this that the recipient of the property can draw up a new contract and receive new machinery or equipment, and buy it into ownership old equipment won't be needed. Operational leasing has a positive effect on the positive dynamics of business productivity due to the regular renewal of funds. In addition, it is possible for the lessee to rent equipment for certain contract work, and for a fairly short period of time.

Nowadays, operational leasing can provide rental of all types of equipment, special tools, and equipment. It is worth noting that the matter is not a taboo on the part of the law, but a matter of expediency. In some cases, operating leasing will not be profitable. For example, when the leasing object is some technically complex equipment that requires time-consuming and expensive installation and dismantling. The use of this type of lease as a financial mechanism is welcome in the case when the subject of operational leasing can be leased out again, as well as sold on the secondary market. Today, more and more often, you can find leasing objects in the fleets of enterprises, construction sites etc.

Leasing is a new financial technology that allows you to expand the assets of an enterprise without removing significant amounts from its turnover. cash, since transport equipment is transferred to the buyer for use on a lease basis with the right to purchase after making a small amount of money in the form of an advance payment.

What is it

Purchasing a vehicle under a leasing scheme involves formalizing the relationship between the buyer and the seller of the product in the form of a long-term lease.

Upon expiration of the terms of the agreement, the lessee is given the primary right to purchase the object of operation. Operational leasing involves returning the vehicle to the owner after the end of the agreement.

It is worth noting that it is not necessary to buy a leased car. After the agreement expires, it can be returned to the owner, who in this situation is the lessor.

Advantages of purchasing a car

By leasing a vehicle, you can get many benefits.

1. No need to pay the full cost of the car.
2. The costs of insurance and certain other operations are the cost of the lessor.
3. Ability to plan production and financial activities due to the uniform distribution of payments
4. The simplicity of terminating the contract, which consists in stopping making payments and returning the property to the owner.
5. Expanded scope of application, allowing you to lease any property.
6. Registration of leasing relationships with all categories of clients who can purchase equipment, both for business activities and for personal use.
7. Property registered under leasing is not the property of the lessee, therefore tax and depreciation charges carried out by the lessor.
8. The use of modern vehicles, which, in case of moral and physical wear and tear, can be replaced with other equipment. To do this, it is enough to constantly use the services of a leasing company with the option of renting without purchasing the property.
9. Easy to apply even with a negative credit history.
10. Reduced tax liabilities due to the inclusion of regular monthly payments in the cost of production.
11. Reducing the administrative burden associated with the activities carried out with the leased object by the lessor.

Operational car leasing for individuals

Individuals obtain vehicles under a leasing agreement for personal use.

At the same time, lessors promote clients to this category additional requirements:

• age over 21 years;
• driving experience – at least 3 years;
• presence of Russian citizenship;
• financial compliance;
• having a permanent place of work;
• justification for the need to complete the transaction.

Individuals can lease both new and used cars.

For legal entities

Leasing services related to the purchase of transport are most in demand in the transport industry, in which regular updating of equipment is a prerequisite for competitiveness in the market for the services provided.

In addition, the purchase of transport under a leasing scheme does not aggravate the financial balance of the enterprise.

In order to formalize a contractual leasing relationship, a potential client of the company must provide a package of documentation for analytical work by specialists to determine compliance with the required conditions.

Upon receipt of a positive conclusion on cooperation, having drawn up an agreement and paid an advance fee, the head of the company receives a deed of transfer of a vehicle for use, for which he must pay mandatory payments throughout the contract period.

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Main features and features

Operating leasing for all categories of clients is possible for a period of no less than 12 months and no more than 4 years.

The calculation of cooperation time is determined individually and depends on the following criteria:

• client status;
• presence of a history of cooperation;
• the client's financial situation;
• standard terms of cooperation approved by the company management;
• service life of the designed object.

During the validity of the contractual agreement, the client is responsible for the safety of the property transferred to him for use.

If a car is needed for a short period of time, you need to consider leasing companies that provide the opportunity to arrange transport with a minimal advance payment or without it.

In such a situation, the operation of transport will be carried out on the rental principle. The lessor should be notified about planning the early return of the contract object at the time of registration of the relationship.

How is it different from financial

Companies providing these services

Each operating leasing agreement is drawn up on an individual basis and involves working out the conditions for each client individually.

For this reason, the companies’ websites do not contain information about such nuances of cooperation as:

• restrictions in monetary terms regarding the cost of equipment;
• terms and amounts of advance payment;
• payment schedule;
• percentage increase in price;

All these nuances are decided on an individual basis.

You can see the most popular companies in the table.

What to look for in a contract

The rights and obligations of each party, as well as all possible situations and ways to solve them.

Before signing a document, you need to make sure that the document is a leasing agreement and not a purchase or sale agreement with deferred payment. It is also possible to identify a leasing agreement with a bank loan.

When drawing up an agreement, you should pay attention to the following points in the document:

1. Who is the owner of the property.
2. Possibility of early termination of the contract
3. Consequences of termination of the agreement
4. Conditions and procedure for registering ownership of an operated facility.
5. Advance payment amount
6. Schedule for making mandatory payments.
7. Possibility of extending the contract on preferential terms.
8. Financial consequences for the tenant from cooperation with the leasing organization.
9. The presence of hidden responsibilities, such as insurance, additional operating requirements.
10. Methods for making changes to the agreement.
11. Possibility of making changes to the document in unilaterally without notifying the lessee.
12. Granting rights by agreement to third parties.
13. Which party bears tax and accounting risks.

When analyzing the document, it should be taken into account that the ideal agreement is one in which responsibility for all issues is assigned to the owner of the property - the lessor for the period of validity of the agreement, and the procedure for repurchase and transfer of ownership is carried out without unnecessary formalities and additional payments.

Pros and cons

The advantages of operating leasing include providing the client with a wide range of services, such as:

• possibility of choosing a vehicle;
• Carrying out registration actions with the car;
• maintenance;
• repair, replacement and storage of seasonal tires;
• insurance and management of events related to insured events;
• providing 24-hour roadside assistance;
• provision of a replacement car in case of current circumstances;
• assistance in selling vehicles on the secondary market;
• replacement with a new car through the registration of new leasing relationships.

The disadvantages of leasing relationships are:

• significant increase in product prices;
• the need to strictly comply with the terms of the contract in terms of making payments, since, in case of violation of deadlines, you can lose the leased object without the right to return the funds invested in it.

Registration vehicles Leasing allows you to increase the company's assets without paying their full cost at a time, expand production and increase the competitiveness of the enterprise. It is worth noting that leasing services help increase sales in the movable property market.

To purchase fixed assets, an enterprise does not have to spend its own working capital. In this case, it is more advisable to use external sources of financing.

Based on the essence of the transaction, the company can use both financial and operational leasing. To make a choice in favor of one of them, you should clearly understand how they differ from each other.

Concepts

Leasing is a convenient type of contractual relationship that provides for the acquisition by the lessor (lessor) and the subsequent transfer of property (the leased object) for use by the person who leases it (the lessee), on the basis and on the conditions specified in the contract. Under the terms of the contract, the lessee has the right to purchase the leased object.

As a rule, in addition to the tenant and the lessor, two more parties are involved in the transaction - the equipment seller (the company that sells the leased object to the lessor) and the insurer (an insurance company that insures the leased object, as well as possible risks in the transaction). According to the law, choice the seller (as well as the leased object itself) is carried out by the lessee.

In accordance with the Civil Code of the Russian Federation and Law No. 164-FZ “On Leasing,” leasing objects can be any non-consumable things, with the exception of natural objects and plots of land, intangible assets and leasing objects, the leasing of which is prohibited at the legislative level, or for which it is established special treatment procedure.

Legal entities, in the case of acquiring a leased object on lease, are provided with tax benefits. In particular, unlike a loan, leasing payments are included in the gross expenses of the enterprise.

It is worth noting that this advantage not available to individual entrepreneurs who use the simplified taxation system and to individuals.

Types of financial and operational leasing

IN current legislation Only two main forms of leasing are defined - international and domestic. However, in practice there are several types of leasing relationships.

To identify them, you should refer to the leasing agreement. Based on its conditions, the most widely used division of leasing by type of operation is financial and operational leasing.

Financial leasing is the most common type of leasing relationship. In accordance with its terms, the lessor acquires in his name the property specified by the lessee and transfers it under the terms of the contract to the temporary disposal of the lessee. The choice of the seller of the leased object is carried out by the lessee.

This type of leasing agreement provides for the conclusion of a contract for a period commensurate with the period of full depreciation of the leased object.

After making the payments stipulated by the contract to the lessor, the leased object becomes the property of the lessee (purchased at the residual value). It is used for the purpose of acquiring the leased object into the ownership of the lessee.

Operational leasing does not provide for the purchase of the leased object by the lessee. At the end of the operational leasing agreement, the leased object is returned to the lessor. Due to the fact that the leased object is not purchased for lease to a specific tenant, as a rule, it is already owned by the lessor.

In accordance with the specifics of operational leasing, the same leased object can be leased more than once. The contract term is less than the term beneficial use leasing object.

In essence, it is a type of lease. It is used for short periods of equipment rental, in which the duration life cycle the leased object is significantly longer than the contractual lease period.

Based on the terms of the contract, leasing is also divided according to the following classification criteria:

Video: What is it

Features and Distinctive Features

Each type of leasing relationship has its own characteristics and distinctive features.

Financial leasing can be determined by the following characteristic features:

• the leased object is purchased specifically for the transaction;
• the choice of the leased object and the seller is the right of the tenant;
• at the end of the contract, the leased object is purchased by the lessee from the lessor at the residual book value;
• the seller knows that he is selling the property to lease it;
• the leased object is delivered to the lessee;
• in case of delivery of goods poor quality all negotiations with the seller are carried out by the tenant;
• From the moment of signing the acceptance certificate of the leasing object for operation, the safety of the leasing object is the responsibility of the lessee.

Thus, classic financial leasing is characterized by the participation of three parties in the transaction and compensation to the lessor of the full cost of the leased object/

The scheme itself is as follows: one person, at the request of another, acquires ownership and gives the acquired property for operation to another person, for which he receives remuneration in the form of leasing payments.

Operating leasing can be distinguished by following conditions contract:

• the lessor is not going to cover the costs of acquiring the leased object through payments provided for in the contract under one leasing agreement;
• the leasing term is significantly less than the physical wear and tear of the leased object;
• the leasing agreement can be terminated by the lessee at any time;
• the main part of the risk of loss of the leased object or its damage lies with the lessor;
• the cost of operating leasing is higher than financial leasing, because it takes into account the various risks that the lessor bears, because it does not have a full guarantee of cost recovery;
• the object of leasing is highly liquid property, usually popular car models or common equipment;
• As a rule, with operational leasing, the costs of insuring the leased object, maintenance and repairs are carried out by the lessors themselves;
• At the end of the contract, the leased object is usually returned to the lessor.

To summarize, operating leasing differs from financial leasing in that it is essentially a long-term lease, in contrast to financial leasing, the purpose of which is to obtain targeted financing.

Comparative conditions for financing the purchase of new equipment

As an example, let's look at the terms of leasing new technology for operational and financial leasing:

*-calculation is carried out based on the mileage of leased vehicles;

**-down payment = 20%.

As can be seen from this example, it is profitable to take out equipment on operational leasing for short periods and for specific contract work.

If financial leasing was used for such purposes, the equipment would have to be purchased at its residual value, and the costs would be significantly higher due to significant wear and tear and increased costs due to the need for expensive maintenance.

Pros and cons

So, if we compare financial and operational leasing, then the main pre-object leasing terms of operational leasing include the following conditions:

• operation of the necessary expensive machinery or equipment for a short period of time without the need to purchase the leased object from the lessor;
• replacement of the leased object if necessary;
• return of the leased object to the lessor at any time.

The pre-objective leases of financial leasing are:

• selection of the leased object and seller by the tenant;
• lower leasing costs;
• the possibility of repurchase of the leased object by the lessee after payment of all payments stipulated by the contract at the residual value.

In order for a company to choose the most profitable leasing option, crucial has expediency further use leasing object. To make a final decision, you should compare the terms of operational and financial leasing in terms of the term, amount and frequency of payments provided for in the agreement, and only then make a choice.