The Turn-In Lease features a municipal lease contract written with a balloon payment at the end of term. The contract includes an option to "turn-in" the leased vehicle at the balloon payment maturity date for another Pierce vehicle.
Pierce will guarantee the turn-in value of the existing leased vehicle at contract signing of the lease, subject to terms and conditions.
If you elect not to exercise the "turn-in" option for another vehicle at the end of the contract term, simply make the balloon payment or refinance the vehicle.
The lease contract is based on tax-exempt interest rates, providing the lowest payment option possible.
Benefits of Turn-In Lease
- Increases buying power.
- Lower payments mean more options and/or a larger fleet.
- Provides opportunity to keep new trucks in fleet at all times.
- Less risk in the configuration of the vehicle.
- Apply turn-in to accommodate changing apparatus requirements.
- Offers flexibility to own.
When to consider a Turn-In Lease:
| Customer
Situations |
Potential
Needs |
Turn-In
Lease
Opportunities |
| Can't decide
on truck configuration for long-term needs. |
Flexibility
to modify truck configuration and/or buy new truck as
needs change. |
Guaranteed
turn-in value eliminates any risk associated with the
current vehicle. If you decide that the current vehicle
doesn't meet future needs, simply use guaranteed turn-in
value to pay off existing truck and enter new vehicle
lease. |
| Lease payments
are too high. |
Financing
package allows you to realize lower payments now. |
Leases are
structured with a balloon payment thereby lowering the
annual payments with an option to refinance balloon
at end of term. |
| Fleet maintenance
levels too costly. |
Need to periodically
replace vehicles to maintain fleet. |
Lower lease
payments with a guaranteed turn-in value allows for
truck replacement every five years with similar lease
payments. |
Contact us for assistance. Let us help you order the apparatus you need today.
For your Oshkosh Capital™ representative, call 1-800-820-9041 or e-mail us at
dan.wong@oshkoshcapital.com
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