Are you looking for used semi-trailers for sale? Consider a TRAC Lease
When your business needs additional vehicles, whether you’re looking for flatbeds, garbage trucks, or semi-trucks for sale, you need to consider how you’ll pay for them. In a perfect world, you’d always have the cash flow to prepay for every purchase, but that’s rarely the case these days. Instead, you’ll want to look at a variety of options, including dealer financing, a loan from your own bank or credit union, and various leasing options. If you work closely with a dealership that offers financing plans, you may be able to get a good loan rate through one of their financing partners. Some companies that regularly offer used semi-trucks for sale even provide skip payment options for lean times, as well as fluctuating payments that can be reduced during slow months for your business. One of the more specialized payment plans is TRAC Lease, which is specifically focused on buyout options for companies buying used vehicles for business. If you’re not familiar with TRAC plans, read on.
What is a TRAC lease?
Simply put, a TRAC lease is designed specifically for the purchase of road vehicles and trailers. The term TRAC refers to a Terminal Rent Adjustment Rider, which guarantees that your business will pay a specified residual cost when all monthly payments are paid. It is becoming increasingly popular for businesses that want the security of knowing how much they will have to pay at the end of the lease to purchase their used vehicles. Because even used road vehicles can be quite expensive, this payment option gives you valuable flexibility while protecting your bottom line. There are several good reasons to consider TRAC leasing:
You have the option to buy trucks for sale
It is important for you to understand that you have the option of purchasing used semi trailers for sale; you are not required to buy them. With the decision in your hands, you can keep the equipment that has performed well, but hand over the ones you don’t like at the end of the contract.
A fixed price with no surprises
Dealers with used semi-trailers for sale will be happy to work with you today to determine a fair price to pay at the end of the deal. It gives you the opportunity to plan ahead and avoid having to negotiate endlessly in the future.
No down payment needed
Buying used semi-trucks for sale can be expensive. Having the lump sum payment at the end of the lease instead of the beginning of a loan gives you more cash flow now and allows you to plan ahead for the final payment.
Flexible Payments
TRAC leases generally offer flexibility you won’t find in more typical purchase agreements. For example, you can opt for a higher final purchase price if you want a lower monthly payment in the meantime, or switch things up and pay a higher monthly payment for a lower final price.
Allows you to buy used semi-trucks for sale with bad credit
Banks don’t like to make loans to businesses that don’t have perfect credit, and when they do, the interest rates can be prohibitively high. With the TRAC option, you can buy the equipment you need even if you take a few hits on your credit.
If a TRAC lease sounds good to you, talk to dealers who offer used semi-trucks for sale about their various payment plans, including terminal rate adjustment rider plans. They should be able to offer you a reasonable deal that frees up cash now and assures you that you will own your vehicle at the end of the lease.