Closed End Lease Programs

Consider a typical situation:

  • Driver A: An Account Executive.  Located in the suburb of a large city, she drives approximately 21,000 miles per year for both business and personal use.
  • Driver B: An Area Vice President.  Located in a rural setting, he travels a three state territory and drives 30,000 miles per year.
  • Driver C: An Executive.  Based out of the home office, she uses the vehicle for commuting and occasional business trips.  Annual mileage ranges between 12,000 and 15,000.
  • Driver D: Service Technicians.  Located out of the main warehouse, the technicians often drive different vehicles, and occasionally allow other employees to borrow one of the vehicles to run errands.  These vehicles typically travel 45,000 miles per year.

TBBK Direct Leasing addresses this situation by offering a variety of plans which allow you to escape the inevitable problems brought on by diverse usage.

Under a typical closed end lease scenario, you contract for a fixed lease term, and you agree that the vehicle will not be driven in excess of a pre-determined number of miles.  At the end of the lease term, you simply “walk away” with no further obligation providing that there is no unusual wear & tear and you have not driven in excess of the pre-determined mileage limitation. Under this type of lease program, you may have the option to purchase the vehicle at the end of the lease.  However, you are not obligated to purchase the vehicle.

The closed end lease may be established with virtually any mileage limitation, and it may be established for various time periods. Your TBBK Direct Leasing Sales Executive will work closely with you to develop the optimum term and mileage limit based upon the dynamics of your individual application.  In doing so, TBBK Direct Leasing assists you in maximizing the benefits to your company.