Purchase of new car
This query is : Resolved
01 November 2014
Can you tell me the benefits of buying a new car in the company name. Whether it will benefit by going for bank loan or paying cash.
01 November 2014
1)you can claim depreciation as expence in company books.but car should be purchase in the name of company.
2)Purchase with loan is prefered.hence no immediate lump sum payment required.funds may be used for business purpose/investments.
3)Moreever interest on vehicle loan is less than interest on working capital facilities...
.
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2)Purchase with loan is prefered.hence no immediate lump sum payment required.funds may be used for business purpose/investments.
3)Moreever interest on vehicle loan is less than interest on working capital facilities...
.
.
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