Financing Options for Vac-Con® Trucks
Vac-Con® Power Up Finance Programs
Vac-Con® can provide financing solutions for all qualified Vac-Con® customers who are looking for new or alternative sources of capital to purchase Vac-Con® equipment. We offer competitive commercial and municipal programs that are tailored to meet the specific needs of our customers. Simply contact us or your local Vac-Con® dealer, and we will provide competitive and timely quotations per your request. For qualified customers, financing up to $250,000.00 is available on credit application only, and we will look for ways and sources to finance all customers.
Whether you are an experienced contractor or just starting out, we would like the opportunity to offer competitive financing programs to meet your requirements.
- Conventional Financing
- Capital Leases
- Operating Leases
- T.R.A.C. Leases
Conventional financing is available at competitive interest rates and terms, with fast credit evaluation and approval.
Competitive leasing programs are available and can be tailored to your specific needs. Whether you are trying to effectively manage your tax obligations or are just looking for a way to reduce your monthly costs, we offer numerous leasing solutions. Contact us and let us help you choose the right leasing program.
What is tax-exempt financing?
Today’s public works administrators face a diverse array of budgetary and operating challenges. With increased demands for updated equipment, budgets are rarely up to the task. As budgetary challenges increase at the local level, funding the immediate and long term needs of your community become more difficult.
The need for financing to purchase new equipment and facilities is growing. Tax-exempt lease financing is the most successful method used to purchase equipment while improving the management of cash flow. The tax-exempt feature of lease-purchase financing is proven to be beneficial to government agencies across the country.
A tax-exempt lease is the best solution. This type of financial instrument is also referred to as “government lease-purchase” and/or a “municipal lease”. While they are documented as a lease, they have characteristics similar to a loan in that they own it at the end and they can be paid-off early if desired.
The interest earnings under a properly structured and documented lease are exempt from federal income tax under the same tax laws that enable a municipal bond to carry a tax-exempt rate. Because the lessor does not pay federal tax on the interest earned, the tax-exempt lease carries a much lower interest rate than other kinds of leases.
These financing vehicles are structured as a lease to accommodate the fiscal funding restrictions of political subdivisions. In most cases, their obligation terminates if the department fails to appropriate funds to make the renewal year’s lease payments. Because of this provision, neither the lease nor the lease payments are considered debt. Benefits to Government Agencies
- They do not have funds to pay cash.
- Leasing will help them overcome budget restrictions.
- It allows them to acquire equipment they urgently need.
- Leasing enables them to save money by replacing maintenance intensive older equipment.
Vac-Con®’s Municipal Financing Offers:
- Low fixed rates
- No down payment required
- No closing or up-front costs
- Flexible terms from 1 to 7 years (longer terms available)
- Flexible payment frequency- annually, semiannually, quarterly or monthly
- Flexible payment date- up to one year after delivery
- Fast and easy closing
- Lease Term
These estimates are intentionally high and intended for planning and budgeting only. Please contact us for a final proposal prior to your decision to move forward.