You have found the right truck - now what? Westfall O'Dell Volvo/Mack's finance group offers options to finance your truck. Following are some of the options we offer:
Retail financing includes fixed payment plan that locks in an interest rate. This gives you a stable monthly payment and you benefit from your truck's depreciation and will own the truck outright once the loan is paid off. Retail financing can include funding for related equipment and other costs for placing your truck in service.
The TRAC (Terminal Rental Adjustment Clause) Lease allows you to establish the residual value of your truck at the beginning of the lease term. At lease end, you may purchase the truck for a pre-determined value.
The FMV (Fair Market Value) Lease, one of the most flexible finance options, gives you the option to purchase the truck for the current fair market value at the end of the lease term (subject to other amounts and fees that may be due under the lease) or to simply return the truck (subject to inspection and other return conditions/mileage restrictions. This is recommended when ownership and depreciation are not necessary, and requires lower initial upfront cash and lower payments than a traditional loan.
Municipal leases are designed specifically for the public sector. This tax-exempt option helps government agencies obtain new equipment.