FAQs| FORMOSA AUTO LEASING
Q1. How much does a lease cost?
Ans. The cost of leasing a vehicle depends on the vehicle type, model, lease duration and services (e.g., is insurance required? are maintenance services required, etc.). Jih-Sun offers customized vehicle leases to customers so that every customer pays different lease rate. Lease costs depend on factors such as lease duration, security deposit, vehicle condition, residual value, insurance coverage, DMV taxes, other services, etc. Jih-Sun will provide quotations for your consideration after understanding your needs and you can select the lease as you see fit.
Q2. Can I spray-paint my company name on the leased vehicle? Will I be able to install other accessories/gadgets in the car?
Ans. After agreeing and signing the lease contract, Jih-Sun will lease you a car with all the services you require. Thus, you will not be able to modify the lease contract, so please confirm all your needs with Jih-Sun prior to signing the lease contract. For example if you need the leased vehicle to have your company name or be installed with additional gadgets (e.g., a GPS Navigation System, Driver-Assistance Systems, etc), please inform your Jih-Sun customer service personnel. Jih-Sun will customize your lease contract according to your needs and requirements.
Q3. What happens to the leased vehicle after the lease expires? Can I extend my lease?
Ans. Your leased vehicles will be returned to Jih-Sun upon lease expiration. You can choose to lease another vehicle according to your needs and likes or you can renew the lease if you prefer to lease the original car.
Q4. Will Jih-Sun offer a replacement car during maintenance?
Ans. If your lease contract includes regular maintenance services, and your maintenance session lasts more than 24 hours at our designated maintenance locations, Jih-Sun will provide a temporary replacement car for your use.
Q5. What should I do if I have an emergency, accident or if my leased car is stolen?
Ans. Should you have an emergency, accident or if your leased vehicle is stolen, please make a police report immediately and then call the Jih-Sun Customer Service Hotline 0800-288-678. Our friendly customer service personnel will assist you immediately. To protect your rights, please refrain from resolving the problem directly with the other party. Jih-Sun customer service personnel will help you to resolve the problem and assist in all claims matters immediately.
Q6. Is a 2-3 month vehicle lease considered a long-term lease?
Ans. Any lease shorter than 1 year is considered a "Car Rental", and is leased monthly. Jih-Sun offers highly competitive rental rates for short-term rentals. Please call our customer service personnel at 0800-288-678 and you will be assisted immediately.
Q7. Why lease a car from Jih-Sun? What kind of services does Jih-Sun offer?
Ans.

1. “Jih-Sun Formosa Car Rental” is a subsidiary of the Jih-Sun Group, and is held to the same group virtues of “Sincerity, Creativity, and Services” and has a “Customer is Always Right” service attitude. We aim to utilize group resources to provide you wealth management planning and complete vehicle lease services.

2. Lease holders need only pay monthly rents, other miscellaneous costs such as repair, maintenance, insurance, traffic fines and other transportation matters will be taken care of or resolved by Jih-Sun.
Q8. How does leasing cars help companies to reduce their tax expenditures?
Ans.

1. You can offset sales tax with the purchase tax of the lease income during the month and the entire amount is booked as operating expense to write off the corporate income tax.

2. The car purchased by the company is subject to car depreciation and residual value. For depreciation amounts exceeding NT$10,000, you will not be able to use it to write off business income tax. Car used for business leasing is entitled to an accelerated depreciation and is exempted from the tax threshold of NT$10,000 referred to above.
Q9. What kind of leases can I choose from?
Ans.

Car leases can be divided into long-term leases, short-term leases and leases with chauffeurs. You can also choose to include other value-added services such as insurance, brand fuel tax expenditures, vehicle checks, maintenance and repairs, replacement vehicles, etc. in your lease contract.
Q10. What are the differences between a vehicle purchase (cash or installment plans) and vehicle leasing?
Ans.

1. If you purchase a vehicle, you will need to prepare a large sum of cash as payment and will not be able to use this cash for other business operations or investments.

2. Purchasing a vehicle via an installment plan is a conditional purchase; therefore, the interest should be capitalized.

3. If you lease a vehicle, you can include lease costs as part of your business operations costs. You will discover that the tax expenditure that you save is higher than purchasing a vehicle via an installment plan.
Q1. Where does Jih-Sun source their 2nd-hand cars?
Ans.

Jih Sun Formosa Auto Leasing CO., LTD is currently focused on offering long-term vehicle leases.  The 2nd-hand vehicles we offer for sale are typically vehicles we have retrieved from our long-term lease customers. All our vehicles are repaired and maintained regularly by our in-house mechanics that use only original vehicle parts and solutions. Once we retrieve the vehicles from our long-term lease customers, we have experts who will inspect the vehicle conditions and we offer 5 guarantees:
1. Vehicles are not damaged by floods
2. Vehicles do not have major problems
3. Vehicles do not have any illegal engine modifications
4. Ownership rights are clear
5. Vehicles come with accurate mileage
All 2nd-hand vehicles sold by Jih-Sun have been carefully inspected by experienced mechanics. You can make your purchase with peace of mind.
Q2. What are the differences between Jih-Sun and other 2nd-hand vehicle dealers?
Ans. Jih Sun Formosa Auto Leasing CO., LTD is a 100%-owned subsidiary of the Jih-Sun Group. Established more than 20 years ago, Jih-Sun Formosa Car Rental has been serving customers in Taiwan with trust and professional excellence. Jih-Sun Group’s primary business is focused on financial services and thus pays strict attention to trust. If you purchase a 2nd-hand vehicle from Jih-Sun, you are guaranteed the highest quality in terms of vehicle quality, hassle-free payment details, unparalleled transaction safety and absolute ownership clarity when compared with other 2nd-hand vehicle dealers. The mother company of Jih-Sun Formosa Car Rental is Jih-Sun International Leasing and Financing Co., Ltd, and its main business is offering vehicle procurement loans services for more than 20 years. Its business scale and experience are unparalleled in the industry, and thus can offer you procurement assistance. This is vastly different from other 2nd-hand vehicle dealers who require other financial organizations to process transaction details. Customers achieve more convenience with Jih-Sun.
Q3. Are the advertised prices cheaper?
Ans. The advertised prices are highly competitive and are based on current market transactions and closing prices. Jih-Sun also makes public information about the vehicles and its conditions. Our prices are comparable with those vehicles sold in 2nd-hand dealerships. According to company policy, advertised prices are cheaper than those of 2nd-hand vehicle dealerships and we guarantee more protection for our customers.