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Finance or Lease your next bus through a TESCO business partner
TESCO offers a variety of financing and leasing options to best serve the individual needs of our customers.
Depending on your circumstances such as your location and the type of vehicle you wish to purchase, you may be eligible to lease your vehicle through either TESCO Transportation, LLC or one of several TESCO financing/leasing partners.
Leasing/financing through TESCO Transportation, LLC or a TESCO business partner will ensure a smooth transaction during both the vehicle purchase and throughout the finance/lease term.
We feature:
- Vast experience in bus leasing/financing
- Streamlined process that cuts down paperwork
- Flexible terms
- Low initial investment
- Fast turnaround
ADVANTAGES OF LEASING
Lower Monthly Payments – Because you only pay for the portion of the bus that you actually use, your monthly payments are considerably lower than for a purchase loan for the same bus and term. Lower payments in turn free up additional capital to invest in other projects.
Leasing Provides 100% Financing – Most leases simply require first and last month’s payment in advance plus a small documentation fee. No up-front money is generally required.
Leasing Preserves Credit Lines – Credit lines with banks and other depository institutions are precious and hard to establish. Conserve those lines for other things, such as A/R or emergencies.
Leasing Increases Purchasing Power – Your needs may be for a $60,000 bus but your available cash / credit only allows for a $30,000 bus. Hence you settle for a smaller bus that only meets your needs halfway. We can increase your purchasing power by allowing you to finance the needed bus for the job. This way, you get the bus you need to meet demand and promote growth.
Leasing is Convenient – Unlike dealing with bank loans and other alternative types of financing, leasing is an easy and convenient process. Typically all that is required is a one page application for transactions under $100,000.
Leasing is a Hedge Against Inflation – Since your payments apply to the use of the bus you do not pay for ownership on a vehicle that consistently depreciates. Furthermore, your cash savings can yield a return that fights inflationary pressures.
Leasing Provides Fewer Maintenance Headaches – Most businesses like to lease for a term that coincides with the length of the manufacturer’s Powertrain warranty. This way, your bus always has Powertrain coverage, and you don’t have to worry about out of pocket costs for covered repairs.
Leasing Provides Options – Leasing provides flexible end of lease options. At the end of the lease term, the bus can be returned, extended, or purchased.
Leasing is Tax Advantaged – You don’t pay sales tax on the entire value of a leased vehicle as you would if you purchased. Your business is only taxed on the portion of the value that you use during your lease. The tax is spread out and paid along with your monthly lease payment instead of being paid all at once.
ADVANTAGES OF LEASING WITH TESCO
We have money to lend! – At TESCO, we understand the reality of the current credit environment, and we want to help you. Let TESCO finance your next bus purchase, allowing you to retain the precious credit and capital lines needed to expand and strengthen your business. Our ample capital supply, combined with our many unique features, enable us to provide our customers with unbeatable bus financing packages that other financial institutions simply cannot match.
One Contact, One Source – Your bus can be purchased, financed, and serviced by TESCO with one seamless transaction. Working with us eliminates the redundant phone calls and wasted time that working with outside lenders can cause. We have dedicated financial professionals who are ready and willing to handle all aspects of your transaction, no matter how small!
Flexibility – We do not offer “generic” financing packages. TESCO is dedicated to structuring any package to meet your needs. All terms, residuals, etc are all negotiable and fully customizable.
Fast Credit Approval – Your credit can be approved on the same business day, depending on credit and the size of the transaction.
Higher Residuals – By working with our used bus sales department, TESCO can offer higher residuals on your bus.
Walk Away Lease – For those who prefer not to own their equipment upon lease expiration, TESCO can structure an operating lease, so you are able to return the equipment and walk away with no obligation to purchase.
Lease to Own – Our Finance Sales Manager can structure packages allowing you to expense your payments as a lease and ascertain ownership upon disbursement of your final payment.
Short Term Leases – With our extensive inventory, TESCO can structure a short term lease to assist you with uninterrupted service while your ordered bus is being custom built and delivered.
100% Financing Available – TESCO can structure financing packages with zero money down, allowing you to retain capital for your business uses.
LEASE TERMINOLOGY
TRAC Lease (Open End Lease) –This lease contains a Terminal Rental Adjustment Clause (TRAC) that guarantees your business a certain residual price for the vehicle when the lease expires. This is the most common type of lease for business owners who want the option of buying the vehicle for a pre-determined price at the end of the lease.
Closed End Lease – This lease looks more like a rental contract. You simply make your payments every month, show the expense on your P&L’s and at the end, return the vehicle to us with no further liability (except for over mileage, or damages beyond normal wear & tear). You are not responsible for any difference in lease residual values or true market value. You are protected from any fluctuations in the market place. This lease normally has a slightly higher payment than a TRAC lease.
Traditional Bus Loan Financing – This loan ensures that you own your bus once the account is paid in full. The sales tax is billed at the time of purchase, and the bus loan will reflect on your financial statements.
Ask your TESCO sales representative today about our leasing/financing options at 800-227-3572.
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