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.
- 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:
- cities, towns, villages
- fire departments
- police departments
- park districts
- water districts
- school districts
- public hospitals
- EMS departments