Truck Finance & Leasing Options

Financing Solutions Done Right

Palm Truck Hitachi Florida
Isuzu Finance Florida
Truck ENGS Florida Financing Solutions

Customized Solutions

We offer customized leasing and finance solutions to meet our customer’s business needs.

Having been in the commercial transportation industry for more than 50 years, we understand the complexities of running a business and managing cash flow. Palm Truck Centers offers flexible and customized financing and leasing solutions for owner-operators, vocational and fleet customers. Our experienced team of professionals understands the requirements of owner-operators, large and small fleets, vocational segments and municipalities. With our partnership with all major providers, we are able to personalize a program that makes good business sense.

We can also assist you in financing your Pre-Owned truck, and create a personal or corporate finance arrangement for

  • Options and accessories
  • Major repairs and body work
  • Preventive maintenance program
  • Restorations and reconditioning
  • Warranty extension

Whether it’s a low down payment, seasonal payment, balloon payment, walk away lease (one payment and a security deposit) or refinancing, let our professionals provide you with options and assistance.

Palm Truck BMOHB Florida
Palm Truck PACCAR Financial Peterbilt
Peterbilt Florida Wells Fargo Fort Lauderdale
Florida Commercial Equipment Finance at Palm Truck

Compare Loan & Leases

Traditional financing and leasing have their own advantages, but finding the right option for you depends upon your specific situation. First, you need to determine which program works best for you and your business. Next, dive into the specific options available within your narrowed scope. To help you make the right initial decision, we have identified and compared the benefits of traditional financing and leasing for you to the right.

In addition to your specific business circumstances, which will always be the biggest factor in determining which solution is best for you, different payment options should also be considered.

Whatever your decision, we offer the largest number of financing options, including fixed rate, variable-rate loans, leases, skip payments and token payments.

Should You Lease or Buy?

Loan Lease
Lower initial cash outlay No Yes
Lower monthly payment No Yes
Own equipment at maturity Yes Optional
Off -balance sheet financing No Possible
Mileage or usage restrictions No Possible
Payments typically tax deductible* Intrest Only Yes
Depreciation tax benefits to user Yes No

* Always consult your tax advisor regarding proper tax treatment

With our lease products, you can grow your fleet with reduced ownership risk and increased flexibility by taking advantage of minimal up-front cash requirements, lower monthly payments and off-balance sheet tax advantages.

Terminal Rental Adjustment Clause (TRAC) Lease

TRAC leases offer three options for you at the end of your lease – the residual amount may be re-financed, paid off, or the truck can be returned and sold for fair market value.

The Terminal Rental Adjustment Clause (TRAC) Lease provides a known residual as well as offering you ownership opportunities at lease end. Many term and residual options are available to suit your needs and the type of equipment you purchase. TRAC leases also offer three options for you at the end of your lease – the residual amount may be re-financed, paid off, or the truck can be returned and sold for fair market value. If the truck sells for less, you will owe the difference.

TARS
Lower Monthly Payment Compared to Loans Yes
‘Pre -Determined Residual ‘Price Yes
Lessee Responsible for Residual Yes
Off-Balance Sheet Financing* No
Return Conditions No

*Always check with your tax advisor for proper financial statement treatment of leases

Modified TRAC Lease

Very similar to the TRAC lease, the Modified TRAC also provides a residual as well as offers you ownership opportunities at lease end. Many term and residual options are available to suit your needs and the type of equipment you purchase. The Modified TRAC lease generally qualifies for true off-balance sheet treatment as a result of Palm participating in the residual risk.

Modified TARS
Lower Monthly Payment Compared to Loans Yes
‘Pre -Determined Residual ‘Price Yes
Lessee Responsible for Residual Partially
Off-Balance Sheet Financing* Generally
Return Conditions Yes

*Always check with your tax advisor for proper financial statement treatment of leases

Fair Market Value (FMV) Lease

An FMV Lease is sometimes referred to as a “walk away” lease because you have no further obligation at the lease expiration.Maintaining a consistent buying cycle can be difficult with changing emission regulations, which may affect the future value of your tractor. Palm has an excellent finance option that will not only help you manage the buying cycle, but also the unknown future value.

It’s Easy

Spec a new Peterbilt orIsuzuby providing us the buying cycle you prefer, as well as your annual mileage and usage.We will calculate a monthly rental payment for you. At the end of your 24-60 month term, you have the option to return the truck to Palm, renew the lease or purchase the truck at the fair market value. This process allows you to run your business without the worry of unpredictable regulation changes and future used truck values.

Fair Market Value (FMV) Lease
Own equipment at end of loan/ lease No
Off-Balance sheet financing Yes
No concern over equipment disposal (must meet return requirements) Yes
Payments typically tax deductible Yes
Depreciation tax benefits claimed by customer No
Fixed rates available
Yes
Variable Rates Available
Yes
Irregular payments available(skip, token, balloon) Yes

Additional benefits of using an FMV Lease include:

  • Cash flow benefit with reduced payments and off-balance sheet financing*
  • Maintain a stable buying cycle strategy throughout industry changes, allowing for a consistent year-to-year equipment purchase schedule
  • Improve driver retention by upgrading the spec, which increases the residual value and may reduce your payment

* Contact your accounting professional for more information

Municipal Lease Palm Truck Florida

Municipal Lease

A Municipal Lease is a great option for tax-exempt entities acquiring capital equipment that must decide whether to purchase or finance the equipment. With the Municipal Lease, you get attractive tax-exempt rates*, flexible terms, payments based on today’s prices, non-appropriation rights, no prepayment fees and purchase price protection, which allows you $1.00 buyout at maturity.

* Always consult a tax professional regarding proper tax rates and exemptions.

Finance

Palm’s customized loan programs are tailored specifically to meet your needs, making cash available and putting you in a position to benefit when opportunities arise.

Palm Truck Financing and Leasing for Florida

Finance vs Cash

Buying a truck with cash, rather than securing financing, sounds smart. Determining if that is the best solution for you is not quite as simple. Choosing between cash or financing should be based on your long-term business goals; not merely on whether you have available cash in the bank. Palm has identified compelling benefits for financing that you should consider before you decide which option is best for you.

Expanded Options

When you finance your truck purchase, you are keeping your options open. Growing your business takes cash; and business opportunities sometimes present themselves unexpectedly. Having available cash puts you in a position to benefit when opportunity arises, so why tie up your cash in equipment purchases?

More Flexibility

When you finance your truck to maintain a cash cushion, you remain flexible and better prepared to cope with unforeseen circumstances. Fuel prices, competition, economic factors and labor costs are just some of the issues facing the trucking industry on a daily basis.

Accommodating Terms

When you choose to finance, you are allowing yourself to take advantage of the variety of options available; each with differentiating benefits in order to best suit your needs. We offer different loan types, including such options as variable-rate or fixed-rate loans, balloon payments or seasonal payments. Some of our lease options include TRAC, modified TRAC or FMV.

Better Credit Rating

Securing financing for your truck purchase is a good way to build or improve your business credit rating. A good credit rating provides a strong foundation for your business, which means you will have another level of security during all types of business climates.

Loans

Palm ensures you will have expanded options, more flexibility and accommodating terms.

Fixed Rate – Variable/Floating Rate

When you choose to finance your truck, you maintain a cash cushion that allows you to remain flexible and better prepared to cope with unforeseen circumstances. Fuel prices, competition, economic factors and labor costs, are just some of the issues facing the trucking industry on a daily basis.

At PALM we want our customers to feel that all their business needs are addressed and we do that by offering a wide array of financing options. With our fixed-rate loan, you benefit from a locked interest rate with the same predictable payments over the life of the term ensuring you will have a stable financial product that will have you owning your truck outright at the end of the contract.

We understand that flexibility is an extremely critical aspect of commercial truck financing. You may need to take into account changing economic cycles. PALM’s variable rate loan may be the financial product that meets your needs. Indexed to LIBOR or commercial paper, the variable rate loan is designed to enhance your cash flow. It features constant monthly loan payments for the duration of the loan, meaning you pay off the loan faster if rates go down. If interest rates go up, a balloon payment may be required at the end of the loan.