Turn-In Plan
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 a 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.
Customer Situations
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Potential Needs
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Turn-In Lease Opportunities
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Can't decide on truck configuration for long-term needs.
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Flexibility to modify truck configuration and/or buy new truck as needs change.
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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.
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Lease payments are too high.
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Financing package allows you to realize lower payments now.
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Leases are structured with a balloon payment thereby lowering the annual payments with an option to refinance balloon at end of term.
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Fleet maintenance levels too costly.
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Need to periodically replace vehicles to maintain fleet.
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Lower lease payments with a guaranteed turn-in value allows for truck replacement every five years with similar lease payments.
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Contact us for assistance. Let us help you order the firefighting apparatus you need today.
For your Oshkosh Capital representative, call 1-800-820-9041 or e-mail us at dan.wong@oshkoshcapital.com.