If you’ve visited a Spanish bank recently, chances are they were trying to interest you in a new car. I never figured out why they were getting into the car business and naturally I was sceptical.
We are not car loan types of people so we largely ignored it. I was in Banco Popular in Cabo Roig today and couldn’t resist any more so I asked the question… what’s all this car leasing about? It’s actually a very good deal. I know Sabadell in Cabo Roig are working with Audi, Seat and Jaguar. I don’t have details to hand from them but for example Banco Popular will rent to you, for three years, a Nissan Qashqai for 305 euro per month or a VW golf for 275 euro per month.
Included in the deal is insurance, tyres, service, roadside assistance and much more in terms of extras. I contacted Alex Sanchez our Spanish Solutions accountant and asked the most important question… Can we write of the cost of the cars against any profit we earn in our Spanish business and the great news is this expense is a total tax write off. Effectively, if you own a business in Spain you can save 30 or even 40% of this expense from your tax liability in Spain.
It sounds like a terrific deal and in three years- you get an option to end the agreement there or to rent a brand spanking new car.
If you’d like us to arrange a meeting with the nice people in the Sabadell or Popular banks please ask Claire to set it up or if you are looking for a top Spanish accountant who will save you time and stress, ask Claire to arrange a meet up with Alex. Using professionals like Spanish Solutions to take care of the heavy lifting means you can get off the treadmill back home and get on with running a successful business here in Spain.
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