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Leasing

Commercial Vehicle Leasing

Learn more about the benefits of leasing

Leasing can provide a number of benefits[1] as it provides an option for those that may not be interested in owning equipment outright, or do not want to deal with the hassles with selling or trading equipment in the future.  It is an ideal option for businesses that prefer to regularly operate newer equipment, and typically offers lower upfront costs and lower monthly payments as compared to purchase transactions.*  In partnership with International Financial, McCandless Truck Center is able to offer different lease types with fixed monthly payment options. Explore some of our lease offerings below.

OUR LEASE OFFERINGS

International Financial offers several types of leases in order to best meet the needs of your business or school district. Here are a few basic differentiating features of the lease types offered.


Loan vs. Lease comparison

Understanding the differences and advantages of loan and lease products can help ensure that your business benefits from the right equipment financing solution available. 

Loan Vs. Lease comparison
 

FINANCE LEASE

Customers that are reasonably certain to purchase the vehicle at lease end for a predetermined amount would be a good candidate for a finance lease. The lease payments are generally larger in comparison to other lease products and are fixed over the term.

FINANCE LEASE BENEFITS

  • No mileage restrictions
  • Compatible with specialized assets
  • The customer owns the vehicle at the end of the lease

Now offering Municipal Financing —A finance lease option with a tax-exempt rate, delivering a lower monthly payment for municipalities, counties, states, federal government institutions, schools, universities and other eligible tax-exempt customers.

 

Trac & Split Trac LEASE

Terminal Rental Adjustment Clause (TRAC) and Split TRAC leases[3] typically offer lower monthly payments compared to purchasing. Residual values are predetermined with TRAC lease options. 

If the customer decides not to purchase the vehicle, International Financial can sell the vehicle and the customer is responsible for paying the selling expenses. The customer will receive any surplus from the sale that exceeds the residual value.

  • For a TRAC lease, if the value at lease-end is less than the residual, the customer must pay the full difference.
  • For a Split TRAC lease, if the value at lease-end is less than the residual, the customer will pay only up to the specified, maximum liability.

The customer can refinance the residual at prevailing used truck finance rates or re-lease the vehicle for a reasonable term, for either TRAC lease option, subject to credit approval. 

TRAC AND SPLIT TRAC BENEFITS

  • Lower payments
  • Predetermined residuals
  • Multiple lease-end options
  • Options to purchase, refinance the residual, or re-lease the vehicle*

   

fair market value [fmv] lease

A FMV lease offers fixed costs where customers can either purchase the vehicle at fair market value or simply return it (after meeting all obligations of the contract, including mileage and return conditions). There are no vehicle disposal concerns.

FMV Lease BENEFITS

  • Option but no obligation to purchase the vehicle
  • A fixed cost with no vehicle disposal concerns
  • Lower monthly payments
  • No end-of-term residual obligations

Now Offering the S13 Integrated Powertrain FMV lease option  - The latest technology with no residual risk! 

 

ADDED CONVENIENCE BUILT INTO YOUR LEASE

The following items can often be included into a monthly lease payment as an added convenience. Please discuss your needs with your sales or finance representative. 

  • A captive financing partner dedicated to the transportation industry 
  • Ease of doing business Industry-leading customer service 
  • Preserve traditional sources of liquidity 
  • Online account management

TAX IMPLICATIONS[2] Lease payments are typically fully deductible as an operating expense. Consult with your tax preparer and reference your local and state tax laws for more details.

* Lease products are only available on new vehicles. 

** At prevailing used bus or truck finance rates. Subject to credit approval

[1] Program eligibility, actual payments, terms and down payment are determined by Navistar Financial Corporation’s credit team based upon creditworthiness of customer.

[2] Navistar Financial Corporation does not provide nor endorse any tax or accounting advice or tax strategy to its dealers, customers or potential customers. You should consult with your own tax and accounting advisor on all such matters relating to the loan or lease financing.

[3] TRAC leases are limited to motor vehicles leased to businesses and must be used for commercial purposes at least 50% of the time.