Our TRAC lease program puts you in control. This customizable, open-end lease program allows flexibility to set the residual based on your business requirements. At lease-end, you are responsible for the residual.
- Lease Payments are usually lower than similar-term finance payments
- Accommodates high-mileage and heavy-usage vehicles
- Flexible terms ranging from
- 12 to 72 months*
- Combined billing
- No acquisition, up-front administration, or termination fees
- No mileage restrictions or penalties
- No charges for excess wear and use
- Specialized equipment and upfits can be residualized
What happens at lease end?
Your options at lease-end:
- Buy the vehicle for the residual amount determined when the vehicle was contracted (plus unpaid payments and charges)
- Trade in the vehicle at the dealership after buying, or
- Return the vehicle to the dealership at the end of the lease term
Have questions, here’s answers:
Q. Why would a business customer lease their work vehicles instead of purchasing the vehicles with their bank line of credit?
A. Business customers may choose to lease their work vehicles to free up their bank line to run their businesses (i.e. payroll, supplies, equipment), not buy vehicles.
Q. Why would a business customer be interested in a TRAC lease for their work vehicles?
A. With a TRAC lease, residual values can be tailored to allow more flexibility in determining monthly payments and managing cash flow
Q. What vehicles are eligible for a TRAC lease?
A. All New vehicles and used vehicles less than 5 model years old operated more than 50% of the time for income-producing purposes are eligible.
Q. How is a residual determined?
A. Residuals are term specific and based on credit quality. You may be able to use any percentage from 1% to the maximum acceptable for your term and credit quality.
Q. Can up-fits be included in the lease?
A. Most up-fits and dealer-installed options are eligible for up to 100% of the cost, with an invoice from the body company or vendor indicating the dealer cost and the vehicle identification number.