Commercial Lease
Commercial Leasing
Our flexible TRAC lease program allows you to customize the residual value based on your business needs. At the end of the lease term, you are responsible for the residual amount.
- Monthly lease payments are often less than those for comparable financing terms
- Suitable for vehicles with high mileage and heavy usage
- Flexible lease durations from 12 to 72 months*
- Consolidated billing
- No fees for acquisition, upfront administration, or termination
PLUS
- No restrictions or penalties for mileage
- No fees for excessive wear and tear
- Specialized equipment and upfits can be included in the residual
What happens at lease end?
Your options at lease-end:
- Purchase the vehicle for the residual value set at the beginning of the lease (plus any unpaid payments and charges)
- Trade in the vehicle at the dealership after purchase
- Return the vehicle to the dealership when the lease term ends
Got Questions? Here Are the Answers:
Q. Why might a business opt to lease their work vehicles instead of buying them with a bank line of credit?
Leasing work vehicles allows businesses to conserve their bank credit for other essential expenses such as payroll, supplies, and equipment, rather than tying it up with vehicle purchases.
Q. What benefits does a TRAC lease offer to a business for their work vehicles?
A TRAC lease offers customizable residual values, providing greater flexibility in setting monthly payments and managing cash flow.
Q. Which vehicles qualify for a TRAC lease?
Both new and used vehicles that are less than 5 model years old and used primarily for income-generating activities are eligible for a TRAC lease.
Q. How is the residual value determined?
Residual values are specific to the lease term and based on credit quality. You can select any percentage from 1% up to the highest allowable rate for your term and credit profile.
Q. Are up-fits covered in the lease?
Most up-fits and dealer-installed accessories can be included in the lease, covering up to 100% of their cost, provided you have an invoice from the supplier showing the dealer cost and the vehicle's identification number.
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