Fire truck leasing is good for fire departments who:

  • haven’t saved up the full cost of the truck,
  • has the budget to afford future payments,
  • want lower interest rates, and
  • is OK with repaying the truck in installment payments from 3 to 15 years.

Fire truck lease purchase agreements are financial obligations that require payments, insurance, and maintenance of the fire apparatus.

Although they are not usually counted as debt on a fire department’s books, they do represent a continuing payment liability – See How They Work for more details.

Fire truck leasing is not good for fire departments who:

  • have a strong commitment to not borrowing money,
  • don’t want to pay interest,
  • are reluctant or unable to commit to future payments.

If you would like to learn more how fire truck lease purchase agreements work, continue.