Car loan or leasing for legal entities: what is more profitable in?

Introduction: why the choice between a car loan and leasing is important for business

Purchasing a car for a legal entity is not just a purchase of transport, but a strategic decision that affects the financial health of the company. In 2026, business has two main paths: car loan (purchase in installments with a deposit) or leasing (lease with option to buy). At first glance, both options solve the same problem - they provide a car for use, but the difference in tax consequences, accounting and flexibility of conditions can cost the company millions of rubles in the long term.

A mistake in choosing can lead not only to overpayment, but also to problems with the tax office. For example, from January 1, 2026, the rules for depreciation of leased property have changed - now it can be written off accelerated (coefficient up to 3x), but only if a number of conditions are met. At the same time, a car loan remains a more conservative instrument, where interest is included in expenses, and the car itself is depreciated according to standard rules. Let's figure out what is more profitable for your business - a loan with ownership rights or leasing with tax preferences.

1. Car loan for legal entities: pros and pitfalls

A car loan is a targeted loan for the purchase of a car, where the car serves as collateral. For legal entities, it is attractive because of its simplicity: you pay an initial fee (usually 10–30%), and repay the rest in monthly payments. The main advantage is the car immediately becomes the property of the company, making it easier to sell, upgrade, or use as collateral for other loans.

However, there are nuances:

• 💰 High interest rates: for legal entities they start from 8–12% per annum (depending on the bank and term), which is 2–3 points higher than for individuals. For example, in SberBank the business rate starts at 9.5%, and in VTB - from 10.9%.
• 📑 Difficulties with accounting: interest on the loan is written off as expenses, but the car itself is depreciated over the years (useful life - from 3 to 5 years). This means that the real cost of ownership will be higher than it appears at first glance.
• 🚗 Vehicle restrictions: Banks often prohibit the sale or lease of collateralized vehicles without their consent.

Key point: with a car loan you pay property tax (if the car costs more than 3 million rubles), whereas in leasing this tax falls on the shoulders of the lessor. Also don't forget about CASCO insurance, which banks require to be issued for the entire loan term, is an additional 5–10% of the cost of the car annually.

2. Car leasing for legal entities: tax benefits and risks

Leasing is the rental of a car with the right to buy it at its residual value. It is primarily beneficial for legal entities tax preferences. According to Article 264 of the Tax Code of the Russian Federation, leasing payments are entirely considered expenses that reduce the tax base. This means that the company can return up to 20% of the payment amount in the form of income tax savings.

Other benefits of leasing:

• 📉 Accelerated depreciation: from 2026, leased property can be depreciated at a rate of up to 3x (previously - up to 2x). For example, a car worth 5 million rubles can be written off in 1.5–2 years instead of the standard 5 years.
• 🔄 Flexibility of conditions: at the end of the term, you can buy the car for 1–10% of its original cost, return it to the lessor, or extend the contract on new terms.
• 🛡️ No property tax: since the car is listed on the leasing company’s balance sheet, there is no need to pay property tax (if the cost is > 3 million rubles).

But there are also disadvantages:

⚠️ Attention: If you decide to terminate the lease agreement early, penalties can reach 20-30% of the residual value of the car. Banks are more loyal in this regard - fines there are usually fixed (1-3% of the debt amount).

Another nuance: leasing companies often require full CASCO for the entire term of the contract, and its cost may be higher than with a car loan (since the lessor’s risks are higher). Also in leasing no ownership before redemption, which limits the possibilities for selling or modifying the car.

3. Comparison of car loans and leasing: financial model as an example

To understand what is more profitable, let's look at a specific example. Let's say a company wants to buy Toyota Camry 2026 model cost 3,500,000 rubles for 3 years. Let's compare two options:

Parameter	Car loan	Leasing
Down payment	20% (700 000 ₽)	10% (350 000 ₽)
Monthly payment	~95,000 ₽ (rate 10%)	~110,000 ₽ (includes depreciation and interest)
Income tax (savings)	Interest is written off (~250,000 ₽ for 3 years)	Full write-off of payments (~1,200,000 ₽ for 3 years)
Property tax	Yes (if cost > 3 million ₽)	No
Redemption at the end of the term	Owned car	~100,000 ₽ (3% of cost)

As can be seen from the table, leasing is more expensive in monthly payments, but provides significant tax savings. In this example, the difference in tax deductions is almost 1 million rubles in 3 years. However, if the company does not pay income tax (for example, to the simplified tax system), this advantage of leasing loses its meaning.

4. Tax consequences: what is important for an accountant to know

The main difference between a car loan and leasing is accounting and tax accounting. With a car loan, the car is placed on the company’s balance sheet, and its value is written off through depreciation (linear or non-linear method). Loan interest is considered non-operating expenses (Article 269 of the Tax Code of the Russian Federation), but there are restrictions:

• 📌 Maximum key rate of the Central Bank + 5% (in 2026 this is ~16% per annum). Interest above this limit is not written off.
• 📌 Depreciation is calculated only after the vehicle is put into operation (an acceptance certificate is required).

Everything is simpler in leasing:

• 📊 Leasing payments are fully included in expenses (Article 264 of the Tax Code of the Russian Federation), without division into body and interest.
• 📊 If the car is on the lessor’s balance sheet, it does not need to be depreciated (but accelerated depreciation can be applied with a factor of 3).
• 📊 No property tax (if the car is not on your balance sheet).

⚠️ Attention: Since 2026, the Federal Tax Service has tightened control over transactions with related parties. If the lessor and lessee are affiliated companies, the tax office may reclassify the transaction as a loan and charge additional taxes. Check the reputation of the leasing company before signing a contract!

Also worth considering VAT:

• In a car loan, VAT on the purchase of a car is deductible (if the company is on OSNO).
• In leasing, VAT is included in monthly payments and is also deductible (if there is an invoice).

5. When is a car loan more profitable, and when is leasing?

The choice depends on financial condition of the company, tax regime and purposes of using the car. Here is a checklist for making a decision:

Let's look at typical scenarios:

A car loan is suitable if:

• 🚘 You are buying a car for a long time (5+ years) and want to upgrade or sell it.
• 💼 The company is small (individual entrepreneur or LLC on the simplified tax system), and leasing tax benefits are irrelevant.
• 💳You have a stable cash flow and can afford a high down payment (20-30%).

Leasing is more profitable when:

• 📈 The company is on OSNO and pays income tax (saving up to 20% of the payment amount).
• 🔄 You need the opportunity to update your vehicle fleet every 2-3 years without problems with selling.
• 💸 There are no available funds for a large down payment (in leasing it is often lower - 10–15%).

What to do if you don’t have enough money for a down payment?

Some banks and leasing companies offer programs without a down payment, but the interest rate in this case increases by 1–2%. An alternative is to take out a personal loan for the down payment, but this will increase the total overpayment.

6. Hidden costs: what is not included in promotional offers

Both car loans and leasing are accompanied by additional expenses, which managers are often silent about. Here's what you need to budget for:

In a car loan:

• 📄 Loan issue fee (0.5–2% of the amount).
• 🛡️ Mandatory CASCO (5–10% of the cost of the car per year).
• 🔧 Maintenance (warranty usually only covers 1-2 years).
• 📑 Notary expenses (if the car is pledged).

In leasing:

• 📝 Early termination fee (up to 30% of the residual value).
• 🚗 Mileage restrictions (usually 100–150 thousand km over 3 years, over that – a fine of 5–10 rubles/km).
• 🔄 Redemption payment (even if you do not plan to buy the car, its amount may be overestimated).
• 🛂 Penalties for design changes (for example, for tinting or installing an alarm without the lessor’s consent).

Another important point - insurance. In leasing, CASCO is often included in the monthly payment, but its cost can be 15–20% higher than if you arrange it yourself. For example, for Volkswagen Passat 2026 CASCO leasing will cost ~120,000 ₽/year, while with a car loan it will cost ~90,000 ₽/year.

7. Alternative options: cash purchase and operating lease

Car loans and financial leasing are not the only ways to get a car for business. Let's look at the alternatives:

Cash purchase:

• ✅ No overpayments on interest.
• ✅ Complete freedom at your disposal with your car.
• ❌ Requires a large one-time investment (can “freeze” working capital).
• ❌ There are no tax benefits (depreciation is written off over the years).

Operational leasing (rent without purchase):

• ✅ Low monthly payments (20–30% lower than financial leasing).
• ✅ There are no risks associated with selling a car.
• ❌ The car cannot be purchased or modified.
• ❌ Restrictions on mileage and condition (fines for damage).

Operating leasing is suitable for companies that need machines for a short period (1-2 years) without long-term commitments. For example, this is relevant for car sharing or seasonal business (tour companies, construction contractors).

8. How to choose a reliable partner: a bank or a leasing company

Not only the cost of the transaction, but also your reputation before the tax authorities depends on the reliability of the partner. When choosing a bank or leasing company, pay attention to:

For a car loan:

• 🏦 Bank reputation: give preference to the top 10 (SberBank, VTB, Alfa-Bank, Raiffeisen).
• 💵 Transparency of terms and conditions: Check for hidden fees (for example, for early repayment).
• 📞 Quality of service: Read reviews about approval speed and dispute resolution.

For leasing:

• 📊 Membership in RAL (Russian Leasing Association): This is a guarantee of compliance with standards.
• 🔍 Verification of contracts: Pay attention to the clauses about fines and redemption value.
• 🚗 Availability of service centers: Some companies offer free maintenance as part of the contract.

⚠️ Attention: Avoid "gray" leasing companies that offer too low rates. Often these are scammers who, after signing the contract, will begin to impose additional services or hidden fees. Check the company through Unified State Register of Legal Entities and SPARK.

It is also worth comparing offers by state programs. For example, in 2026 there will be a preferential leasing program for small and medium-sized businesses (rate from 5% per annum when purchasing domestic cars). Details can be found on the website SME Corporation.

FAQ: Frequently asked questions about choosing between a car loan and leasing

Is it possible to take out a car loan using an existing car as collateral?

Yes, some banks (eg Rosselkhozbank or Gazprombank) offer loans secured by existing vehicles. However, the rates on such loans are higher (from 12% per annum), and the amount is limited to 70–80% of the estimated value of the collateral.

What happens if the company goes bankrupt before the end of the lease term?

In this case, the car is returned to the lessor, but the debt for unpaid payments may be included in the register of creditors' claims. If the car was on the lessee's balance sheet, it can be sold to pay off the debt.

Is it possible to sublease a car (transfer it to another person)?

Only with the written consent of the lessor. Most companies prohibit subleasing, as this increases the risk of damage or misuse of vehicles.

Which option is better for purchasing commercial vehicles (trucks, buses)?

For commercial vehicles, leasing is more profitable in 90% of cases, because:

• 🚛 You can write off up to 100% of the cost through accelerated depreciation.
• 💸 Leasing payments are entirely expenses (unlike a car loan, where interest is written off with restrictions).
• 🔄 It is easier to update the park (for example, every 3-5 years).

An exception is if the company plans to operate the vehicle for more than 10 years (then a car loan is cheaper).

Does the choice between a car loan and leasing affect the possibility of obtaining other loans?

Yes. A car loan increases a company's leverage, which can make it more difficult to obtain new loans. Leasing in this regard is “easier” - it is not always reflected in the credit history as a debt (depending on the terms of the agreement). However, some banks take into account leasing obligations when calculating their debt load.