Operating lease

  • The asset is off the lessee's balance sheet; it is depreciated by the fund as it is considered owned by the lessee.
  • Does not occupy bank lines, preserving financial flexibility.
  • Rent does not impact financial ratios; it is seamlessly integrated into the production cycle.
  • It is not a loan; it is a pure lease.
  • Amortizes between 50%-80% of the asset value, reducing overall costs.
  • Deducts 100% of the quota as an expense, generating tax credit.
  • Assumes no risk of asset obsolescence; allows for periodic fleet renewal, reducing operating costs.
  • The responsible party for repair and maintenance is the specialized supplier (dealer).
  • The fund negotiates insurance under corporate policies, involving rigorous risk analysis.
  • The asset is off the lessee's balance sheet; it is depreciated by the fund as it is considered owned by the lessee.

Financial lease

  • The asset and depreciation are recorded on the lessee's balance sheet.
  • Occupies bank lines, affecting financial flexibility.
  • Increases leverage ratios and reduces Return on Assets (ROA).
  • It is a credit arrangement.
  • Amortizes 100% of the asset value during the contract term.
  • Deducts interest as an expense and depreciates the asset directly.
  • Assumes the risk of asset obsolescence.
  • Increases the cost of maintaining old assets.
  • Repair and maintenance are the responsibility of the lessee.
  • Requires individual insurance coverage.