Fire truck leasing interest rates

What are the costs when leasing your fire truck?

Fire truck leasing qualifies for low, tax-exempt interest rates. That means that interest rates are about 2/3rds of typical bank conventional loans.

That means if the current bank loans are about, let’s say, 5.00%, a tax-exempt lease purchase agreement would be about 3.25%.

Fire truck leasing down payments

Do you have to pay a down payment when leasing a fire truck?

Usually, there is no down payment required for a fire truck lease purchase agreement.

A down payment may help you lower your interest rate by improving the credit analysis. However, it is not advised to eliminate all reserve or “rainy day” funds for a down payment. Some reserves are viewed positively by the financial community.

Fire truck leasing terms and conditions

What are the available options for fire truck leasing?

You can choose monthly, quarterly, semi-annual, or annual payments. You are able to select the Skip Year and Step Payment options (your banker can help you determine if they fit your situation).

Fire truck leasing fees & costs

Are there any other costs when leasing a fire truck?

The biggest advantage of lease purchase agreements compared to loans or bonds is that leasing has little to no fees.

So, you won’t have to pay the attorney or other “issuance” fees that may equal 1% to 2% (or more) of the amount borrowed, which can equal up to $10,000 (or more) for a $500,000 apparatus.

Usually, you can prepay extra amounts or pay off a lease purchase agreements early with no penalty. Be sure to ask your banker about their policy.

Estimate payments for your new fire truck:

What is an approximate payment for leasing a fire truck?

You can estimate payments based on different truck prices, down payments, and financing terms below.

Simply enter your:

Truck Price:
Down Payment:
3 year 5 year 7 year 10 year 15 year
Estimated Payment $ 0 $ 0 $ 0 $ 0 $ 0
3 Year
Payment $ 0
Total Borrowing Cost $ 0
5 Year
Payment $ 0
Total Borrowing Cost $ 0
7 Year
Payment $ 0
Total Borrowing Cost $ 0
10 Year
Payment $ 0
Total Borrowing Cost $ 0
15 Year
Payment $ 0
Total Borrowing Cost $ 0