Commercial Vehicle Leasing
Vehicle leasing is a smart decision. We lease any type of vehicle you need for your business. Whether you need one vehicle or an entire fleet FOCUS Bank is here to help.
It is a great time to lease, so you may want to consider the advantages of leasing your next vehicle.
- Improve cash flow
- Tax benefits
- Advantageous pricing and payment structure
- Vehicle leasing can take advantage of incentives and rebates
- Reduced administrative time and costs
- Consolidated billing
- No down payment needed
Vehicle Lease Facts
- Vehicle leasing compromises about 35% of the market for vehicles costing approximately $45,000 or less. And 60% of the market for vehicles costing in excess of $45,000.
- Leasing as a form of financing for business vehicles have been growing over the last 5 years
- Open-end leases enable the lessee to participate in the end of lease settlement. Sometimes the term TRAC lease is used, meaning the lease has a Terminal Rental Adjustment Clause.
- With a closed-end lease, the lessee has no responsibility at lease end except for body damage, excess mileage or abusive wear and tear. This is also known as "walk away" lease.
- Closed-end leases usually offer off balance sheet financing and deductibility of the payment.
- For a vehicle loan to have the same payment as a lease, a large down payment would be required.