Commercial truck leases have increased in popularity among fleet owners and growing businesses that prefer minimal equity in company trucks or want to avoid the repair hassles that tend to come with older trucks. Another advantage of leasing is the ability to upgrade your Isuzu trucks more often, taking advantage of advances in fuel economy, driver safety and functional efficiencies. Plus, a sharp looking new truck can be good for your company image.
As an authorized Isuzu truck dealer, can offer you the best lease deals available from Isuzu Finance of America, including the popular Isuzu which we’ll explain below.
If you’ve leased a commercial truck before, you know there are two leasing options– TRAC and FMV (Fair Market Value). While the main difference between the two is the breakdown of the payment structure, each lease has a few nuances to consider before you decide.
Other types of businesses, especially those that put a lot of wear and tear or mileage on their trucks, might prefer a TRAC Lease (also known as a Terminal Rental Adjustment Clause) which has no wear-and-tear or mileage restrictions. Another potential advantage of a TRAC Lease is that you can choose from multiple terms and various residuals, giving you more options for a monthly payment that works within your budget. At lease-end, you are responsible for the residual, but can still lease a new Isuzu truck, refinance, or purchase the truck for its residual value.
The in-house finance team at Frank’s Isuzu Truck is happy to help you compare both options and structure a lease that meets your unique truck financing goals. Contact us when you’re ready to talk.
Frank’s Isuzu is a part of Frank’s Truck Center, which has been family-owned and operated since 1930. We take pride in serving customers in Lyndhurst, Newark, Jersey City and Edison, New Jersey, and The Bronx, Brooklyn, Manhattan, Queens, Staten Island and Long Island in in New York, and surrounding areas.
There is not always a clear “better” option between the two types, as the decision will often come down to which lease best fits your business. TRAC leases allow for unlimited mileage and a flexible residual amount. A FMV lease is the better option for customers looking for a truck with predictable, low monthly payments, and those who want a new truck more often.
You can return your truck and lease a new Isuzu, purchase or refinance using Isuzu Finance top-rated refinance programs for qualified customers.
Follow the manufacturer’s guidelines for proper maintenance found in the owner’s manual. Try to keep exterior dings, chips, scratches, corrosion etc. to a minimum or keep total cab and body damage to less than $250.00
Exterior, interior (seat fabric, carpet, mats, head/door liner free of burns, cuts, tears and stains. Glass, lenses and mirrors are to be kept free of damage. Missing and broken parts are subject to charges at the time the truck is returned. All power equipment: lights, audio equipment, security systems and other components must be maintained in good working conditions.
No, do not perform any mechanical modification to the truck such as suspension changes, engine adoptions, post-delivery customizations, fuel system adaptions, wheelbase alterations, etc. all body alterations (vehicle coloring, lettering etc.) must be restored to the original condition prior to returning the truck.
An invoice will be sent to you listing the inspection findings and any subsequent charges which you will be responsible for. To avoid these charges you can have the truck repaired through an authorized dealer.
Engine must be mechanically and operationally sound. No oil leaks or coolant leaks and free of internal contamination. Battery, starter, alternator and other ignition system components must be in sound condition and capable of starting and charging the system under the chassis’ own power. Air conditioning compressor must be operational. Other items include drivetrain, brakes, tires, frame and cab/body.
Yes, each truck has to have a title free and clear of all liens at the time of returning the truck. All replacements parts bought throughout the time of the lease must meet original equipment manufacturer’s specifications.
Yes, the truck must pass DOT inspection, meet end of lease terms and be able to go into service without repair. The customer/lessee must certify to the best of their knowledge that the odometer readings on the truck accurately reflects the actual miles for each truck unless otherwise noted and properly documented.