Operating leases
Marac’s lease division specialises in small to medium-sized fleets as well as leases for self-employed business owners. With a nationwide dealer network, we can source your vehicle from the dealer of your choice.
How does it work?
An operating lease allows you to have access to a new vehicle for an agreed term. You make monthly rentals to cover the use of the vehicle. At the end of the lease you return the vehicle to the dealer you got it from originally. It’s that easy.
Keep your business moving
An operating lease can help you free up valuable capital for your business, while still allowing you to benefit from our fleet of vehicles to represent your business.
Lease vehicles can either be maintained, or not - the choice is up to you. Other benefits include:
Tax-deductible payments
In most cases the lease payments are fully tax deductible.
No residual risk
At the end of the lease the vehicle is simply returned and a new vehicle arranged. (subject to you entering into a new lease arrangement with us)
Ease of budgeting
With a fully maintained lease, the costs of servicing, tyres and re-licensing are all included in the monthly lease payment.
Savings passed on to you
Marac's purchasing power lowers the vehicle price – we enjoy substantial fleet discounts and the benefit is passed on to you in your lease payments and FBT calculations.
No resale risk
Marac is responsible for selling the vehicle at the end of the lease so there’s no resale for you to worry about.
Let’s get your team on the road
Give us a call on 0800 85 30 30 to find out more about operating leases, and to discuss which option is best for you.
Common Questions
Why would I lease a car rather than own a car?
Leasing allows you to drive a car without paying out a lump sum to purchase, which means you have cash for other purposes. The low deposit, the tax advantages, and no risk on resale also make leasing an attractive option.
Does leasing a vehicle give me a tax benefit?
Depending on your individual or business circumstances, leasing a vehicle can provide considerable tax advantages. In most cases the lease payment will be fully tax deductible. Your accountant will be the best person to give you advice on this.
Do I get a discount off the retail price of the car?
As Marac is a major lease company we enjoy substantial fleet discounts on most vehicles. We pass on these discounts to our lease customers.
Can I lease a used vehicle?
Yes, but there may be limits on the term of the lease. Generally, only late model, low kilometre vehicles will be considered.
Is maintenance included in my lease payments?
With an operating lease, you can choose to include service costs and tyres, or you can have a non-maintained lease where you pay these costs yourself.
What is sale and lease back?
This is an option which allows you to inject cash into your business by selling your vehicle to a lease company and then leasing that vehicle back from the company.
What type of car can I lease?
Marac will purchase a vehicle to meet your specific requirements. Most vehicles that are available new in New Zealand will be considered for a lease option.
Can I purchase the lease vehicle at the end of the lease?
You may be able to negotiate to purchase the lease vehicle after the lease has expired. However, this cannot be arranged at the start of the lease.
How is the lease rate calculated?
The lease rate is based on the discounted purchase price of the vehicle, the anticipated resale value (residual value) of the vehicle and the term of the lease. The anticipated kilometre usage is agreed on to determine the residual value. Most leases are for a 36 month term but other terms are available.
Lending criteria, fees and charges apply. Marac is a division of Heartland Bank Limited.
