Truck Leasing Key Terms
Get into the driver's seat by learning truck leasing key termsIf you're in a business that operates a fleet of trucks, chances are you'll be looking into truck leasing. Before you contact a leasing company, you'll benefit from learning truck leasing key terms. From full service truck leasing to a tax exempt municipal lease, you'll be able to find exactly the kind of lease that best fits your business needs.
Full service lease
Skip leaseIf you're leasing trucks for a seasonal or recreational business, you might want to explore a skip lease. A skip lease is an option that allows you to arrange time periods when payments will not be made.
Fleet leasingFleet leasing pertains to a leasing option that specifically addresses business leasing. If you need to lease a fleet of trucks for your business, fleet leasing will help you address your needs as well as save you money.
Open-end and closed-end leasesThe two most common types of commercial truck leasing programs are open-end or closed-end truck leases. Open-ended leases provide full use of leased trucks, with a pay-out at the end of the lease. Closed-end leases offer a buy-out option.
Operating leaseMany companies offer businesses an operating lease. An operating lease allows a business to write off lease payments as an operating expense, resulting in a tax break.
Municipal leaseMany leasing companies offer a municipal lease, also known as a tax exempt lease, for cities, counties, state agencies and school districts. Low interest rates and special payment terms are just some of the benefits of a municipal lease program.
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