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Municipal Lease

Municipal Lease

Municipal Lease is a walk in the park.

GM Financial’s Municipal Lease is the right choice for financing the vehicles your municipal customers need. This financing option allows a public entity to purchase essential-use vehicles by making lease payments over the useful life of the asset. The payments under a lease program are subject to annual budgetary appropriation and are typically included as a line item in the operating budget and not considered debt.

Benefits:

  • Low, tax-exempt rates
  • Easy and convenient documentation
  • Master lease agreement available for multiple-unit purchases
  • No excess wear-and-tear issues
  • No mileage restrictions
  • Service contracts can be included
  • Municipality titled as owner at time of purchase
  • Annual, semi-annual, or quarterly payment options
  • Immediate acquisition of vehicles at current prices
  • Preserves cash flow – 100% financing available

Who qualifies for Municipal Leasing?

Most political subdivisions and their agencies, as defined in IRS Section 103, are eligible. Examples include:

  • states
  • counties
  • cities, towns, villages
  • fire departments
  • police departments
  • park districts
  • water districts
  • school districts
  • public hospitals
  • EMS departments

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