Lease Purchase Plan
With a lease purchase plan, you can purchase the apparatus gradually over time. This allows you to use available capital for operations or other needs. At the end of the lease, you can purchase the apparatus for just $1. Terms for this plan range from 2 to 15 years (10 years for apparatus with commercial chassis).
Choose a lease purchase if:
You prefer ownership of the apparatus and need to spread capital costs over time.
Turn-In Lease Plan
The turn-in lease plan contains a “balloon payment” for the estimated resale value of the apparatus at the end of the lease. A department has two options at lease term:
- Purchase the apparatus by paying off or refinancing the "balloon payment."
- Return the apparatus to Pierce and and lease a new Pierce apparatus (Pierce pays off the “balloon payment”).
Terms for this plan range from 2 to 10 years. This lease contains mileage and apparatus condition provisions, with 10,000 and 15,000 annual mileage options available.
Choose a turn-in lease if:
You want to pay for the use of the apparatus over the lease term and need a flexible, cost-effective fleet management program.