Fleet Leasing

Open-End Lease

 

Open-End LEaseThe open-end lease is a popular option for companies and governmental agencies that want flexibility and a plan that is close to ownership. Merchants Fleet Management offers open-end leasing plans in addition to a long list of other options. View all our fleet leasing programs and solutions. Our knowledgeable team members work closely with clients to come up with plans that are ideal for each individual. When you want to be sure you’re paying for exactly what you need – no more, no less – come to Merchants Fleet Management.

Get an Open-End Lease with Our Tailored Leasing Philosophy

Merchants Fleet Management takes a personalized approach to business. We understand that no two companies are the same, and that each fleet requires an individualized management plan. We’ve learned, through over 50 years of experience in the industry, that the best fleet programs are those built specifically for each client. We provide one-on-one support from our team members to determine your unique needs and apply the ideal solutions.

If you’ve been on the hunt for an open-end lease with a fleet management company, consider Merchants Fleet Management. We create customized plans, helping you choose the vehicles that match your business’s needs, the options and accessories that fit your budget, and the leasing plan you have in mind. Whether you’re a government agency, large corporation, or small private business, we can tailor a solution for you. It’s your lease – it should be on your terms.

We’ve built our entire organization on the philosophy of customized fleet management. We know that customized solutions get results. For this reason, we provide many fleet lease options to accommodate a variety of needs and financial objectives. From buyback and acquisition programs to value leasing and re-leasing, we have it all. With every leasing program we offer, we provide competitive insurance rates, flexible and unlimited mileage options, and unsurpassed service and support. These are just a few of the ways we ensure customer success. Get to know Merchants Fleet Management.

An Open-End Lease with You in Mind

Merchants Fleet Management never makes you pay for things you don’t need in a fleet management or leasing program. Our open-end lease program grants you complete leasing structure flexibility. This option is similar to a finance lease in that it retains the equity in your vehicle. Where desired, however, you have the flexibility similar to an operating lease, with off-balance sheet treatment.

You also get the long-term structure to pay for your fleet vehicles over time. This frees up capital for other business needs, while still giving you the tax advantages of leasing. At Merchants Fleet Management, our open-end lease program offers a range of options for companies and governmental agencies, including:

  • Fixed and variable interest rates. Fixed-rate interest may add slightly to the overall cost of your fleet lease, but this option provides peace of mind and security with an interest rate that won’t change. Variable-rate financing is open to fluctuations. Our crew can help you decide which interest setup is best for your financial goals.
  • Operating terminal rental adjustment clause (TRAC) lease. A TRAC lease provides the advantages of leasing a fleet while still retaining the option to purchase the fleet at the end of the term, at a pre-determined amount you agree upon at the beginning of your lease. Monthly installments on a TRAC lease depend on the pre-established residual price.
  • One-dollar buyout. Also known as a capital lease, this option has a higher monthly payment than a fair market value lease, but you will own the fleet at the end of the lease for just $1.00. In a capital lease with Merchants Fleet Management, you’ll have all rights of ownership to your fleet. We only finance the leased asset.
  • Fully amortized or residual. A fully amortized open-end lease agreement is also known as a Zero TRAC lease. A fully amortized fleet option typically has a 12-month term with a series of monthly options to renew or terminate with a TRAC adjustment. Residual lease terms depend on the value your vehicle maintains over time.

These are just some of the options we offer here at Merchants Fleet Management. We’ll work with your company or agency to help you decide which plan is ideal for your needs and financial situation. Learn more about our open-end leases. 

Not Sure if an Open-End Lease is Right for You? Let Us Help

Open-end leasing agreements aren’t for everyone. If you don’t know whether to choose an open- or closed-end lease with Merchants Fleet Management, our team is more than happy to discuss your options in further detail over the phone or in person. Here is a basic idea of what you can expect from an open-end lease with us:

  • A significant degree of ownership risks get transferred to the lessee.
  • You will not know your total lease costs until the end of the lease term, and until the vehicles under your lease are sold. If there are any gains or losses upon the vehicles’ sales, we apply it to the lessee’s account.
  • If your vehicles incur losses at the end of the lease term, we factor the cost as an additional payment.

Open-end leases are not for everyone. Discover the differences between an open-end and closed-end commercial lease. The option that’s right for your fleet may not be the best choice for another company. Work with our team to find out which contract is ideal for your situation and goals.

Open-End Leases with a Trustworthy Company

Merchants Fleet Management puts you in charge of customizing your lease. We are one of the only fleet management companies that offer a wide range of leasing options, add-ons, and solutions. We take the time to learn about your individual organization and give plan recommendations based on your goals, history, and risks. This is the best way to deliver an ideal, forward-thinking program that fits your needs. If you’re ready to benefit from an open-end lease designed specifically for you, call Merchants Fleet Management at (866) 653-2737 or contact us online.

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Merchants Fleet Management specializes in commercial fleet management solutions for companies with 10 or more fleet vehicles.

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