Van, machine or IT material: ever thought about leasing?

Do you want to finance a vehicle for your business? Maybe you want to invest in an excavator or forklift? Instead of buying and taking out a loan, you can also lease them. Discover the practical and tax advantages.

As an entrepreneur, you sometimes have great plans, but your funds don’t always allow you to make the investments you need to expand your business.

With a new machine or van, you could save a lot of time, serve your customers better or offer new services. But buying equipment costs a lot of money. In which case, leasing may be a more economical solution.

What is leasing and how does it work?

Leasing is a form of financing that you use for company assets such as machinery, company cars or computers.

A leasing company like ING Lease buys the goods and you pay an amount every month (or at another frequency) for the use. Although the leasing company remains the 'legal owner' (purchase in name of the leasing company), you are the 'economic owner' with usage rights.

Since you are the economic owner, you do have some responsibilities. For example, you have to cover the cost of maintenance and any repairs, fuel and insurance. 

Leasing is an easy and versatile way to finance your business. You don't have to own a business empire: sole traders and professionals can lease too.

On My ING Lease you can create simulations tailored to you. You can convert everything you simulate on this tool into a leasing contract instantly. The order is confirmed to the supplier within 24 hours.

The difference between leasing, borrowing and buying?

Suppose you buy a van or take out a loan: in that case you become the full owner. As you will have already noticed, with leasing it’s different. There are also other major differences between leasing, borrowing and buying. 






The leasing company does not or rarely needs guarantees, because it buys the asset and is the legal owner. A down payment is occasionally required for certain equipment.

More guarantees are needed (on repayment) for the risk a bank takes to lend money, because the bank is not the legal owner.

No guarantees needed.


You can finance a higher amount.

Your financed amount will generally be lower than with leasing.

Dependant on your working capital.


At the end of the contract, you have the option to buy the asset at the residual value which you define beforehand. You can also start a new lease or extend the existing one.

Sell the asset whenever you want.

Sell the asset whenever you want.


You make the repayments to become the owner, without having to make any major investments yourself.

You are the owner and must repay the capital in full.

You must bear the full cost of the investment yourself.

Working capital

You retain a larger share of your working capital and don’t have to pay an advance. The VAT is also part of the repayment and does not have to be paid up front.

You retain a larger share of your working capital. 

When you make a purchase, your available working capital is reduced in one go.

TIP: Through the combination of a higher initial rent and a higher residual value you can keep the monthly fees for use low and thus make your investment profitable.

What about accounting, taxes and VAT?

From a tax perspective, leasing also offers an alternative to a loan or purchase. Some leasing contracts can be recorded off-balance sheet or, in other words, as a rental. That way, there are no debts on the balance sheet, which is handy for making the balance sheet look healthy to suppliers and lenders. The lease instalments can also be recorded as an expense.

When leasing most equipment goods, you also avoid the property tax that you would have to pay if you had bought the goods yourself.

ING Lease pays the full amount of VAT at the start. By entering into a leasing contract, you can pay the VAT in instalments via the lease repayments.

Leasing is on the rise in Belgium. According to the latest figures from the professional association of financial leasing companies (BLV), the value of the outstanding leasing volume was around 17.5 billion euros in 2019. This has more than doubled in 15 years.

What can you lease?

Whether it's a tractor, a packaging machine or a verhicle: leasing offers a wide range of possibilities.

What happens when the contract ends?

At the end of the contract, you can choose to buy the goods, thus becoming the legal owner. Every leasing contract you enter into with ING includes a residual value determined at the start. So you know the price in advance. If you don’t choose this option, you can specify another buyer. A third option is to continue leasing after the lease period. So it's a very flexible solution.

How much does it cost to lease?

On My ING Lease you can create all kinds of simulations and calculate the price based on your personal profile.

 Once you’ve found the right offer, you can instantly convert the simulation into a contract and sign it online with the Itsme app. An order for a car arrives at your chosen dealer 15 seconds later. Other equipment orders are also done within 24 hours.

 You can follow the entire administration of your contract easily on My ING Lease. Quick, simple and online!