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Pierce Financial Solutions


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Equipment Finance 

We make the acquisition of your Pierce apparatus both affordable and easy


•    Financing from PNC Equipment Finance, one of the largest bank owned leasing companies in the U.S.
•    Two municipal lease product to fit the needs of any department 
•    Competitive, tax-exempt interest rates
•    Defer first payment to next budget year
•    Prepay program that lowers the apparatus cost, payments, and eliminates interest risk 
•    100% financing
•    Flexible payment plans
•    No closing costs or documentation fees
•    Generally do not require voter approval or referendums
•    All departments qualify (volunteers, districts, metro)
•    Dedicated Account Executive to assist you through the financing process

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What is a Municipal Lease?

Annual Appropriation Clause
•    Lesse must approve lease payments into budget each year to renew or continue the financing

Benefits vs. Tax Exempt Bonds & Loans
•    Generally not subject to legal debt limitations
•    Generally no Voter Referendum 
•    Easier approval process
•    Fewer documents
•    Lower transaction costs
•    No ratings/credit insurance
•    More flexible structure

Hybrid Tax-Exempt Financial Product
•    Like a Loan: Customer has title to asset during term
•    Like a Lease: Financing subject to annual renewal or termination 



Lease Purchase (“Pay to own the truck”)

•    Gain equity in the truck with each payment
•    At the end of the lease, purchase the truck for just $1
•    Lease terms 2 - 15 years (10 years for commercial chassis)
•    No mileage and condition provisions

Turn-In-Lease (“Pay to use the truck”)

•    Lease contains a “balloon payment” at lease term (“balloon payment” is the value the truck may sell for in the used truck market)
•    Two options at lease term (we ask customer to decide about 18 months before lease term):
     1.    Purchase the truck by paying off or financing the
            “balloon payment”

     2.    Return the truck to Pierce and lease a new Pierce truck
•    Maximum lease terms are 10 years
•    Lease contains mileage and condition provisions
•    10,000 and 15,000 annual mile options available



Payment Example

Pierce Custom Apparatus: $500,000
Lease Term:        7 Years
Lease Purchase End of Term Option: $1
Turn-In Lease End of Term Option:    $160,890 (assumes 10,000 annual mile option)





Budget Year Cash Purchase Lease Purchase Turn-In Lease
Year One $500,000 $0 $0
Year Two $0 $80,616 $60,650
Year Three $0 $80,616 $60,650
Year Four $0 $80,616 $60,650
Year Five $0 $80,616 $60,650
Year Six $0 $80,616 $60,650
Year Seven $0 $80,616 $60,650
Year Eight $0 $80,616 $60,650
Total: $500,000 $564,312 $424,550

This is for informational purposes only, consult your Pierce Financial Solutions representative for current payment plans for your specific apparatus. 

Contact your Pierce representative for extended details.

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