AutoSource Motoring

In addition to commercial vehicles, AutoSource Motoring can finance most any equipment with transaction size ranging from $5,000 - $250,000. From computers and medical equipment to skid loaders and milling equipment, AutoSource Motoring offers smart financing to small businesses.

What is Our Focus?

• New and used commercial vehicles (non-automobiles)
• Trade-style business - electricians, construction companies, plumbers, etc.
• Delivery vans/trucks, buses, concrete pumps, dump trucks, flat bed, large truck, water trucks
• Low residual business geared toward ownership
• Individual vehicle requests (non fleet vehicle financing)

Value to Customer

• Fast, four-hour credit decisions
• Competitive rates
• Flexible terms and options to meet your cash flow needs
• No mileage or wear restrictions

End of Lease Options

We offer a variety of lease options designed to fit your financial and equipment goals. Our terms range from 12 to 60 months for both new and used vehicles, provided the age of the vehicle plus the term does not exceed seven years (i.e., a three year old vehicle is limited to a 48-month lease.)

Operating Leases: Geared Toward Flexibility

• Terminal Rental Adjustment Clause Lease (TRAC) Lease: Includes a pre-determined residual amount negotiated by the lessor and lessee, not to exceed 20 percent. A higher residual offers lower payments and a higher purchase option; a lower residual offers higher payments, but a lower purchase option. At the end of the lease, the lessee has three options: purchase, continue to rent, or return the vehicle.

• 10% Option: This lease offers a low, fixed purchase option equal to 10% of the original amount. The lessee can also elect to continue to rent or return the vehcile at lease end.

• Tax Implications: For tax purposes, operating lease payments are generally expensed. *

Capital Leases: Geared Toward Ownership

• Equipment Finance Agreement (EFA): This financing structure offers automatic ownership at lease-end, with no payment obligation.

• 10% Purchase Option Upon Termination (PUT): Similar to the $1 Buy-Out lease, the customer assumes ownership at the end of the lease with a PUT structure. Payments are lower due to a balloon payment, equal to 10% of the original equipment cost, payable at the end of the lease term.

• Tax Implications: equipment finances on a capital lease is generally depreciated as an asset and may qualify for Section 179 and Bonus Depreciation*

*Please refer to a tax professional for specific tax advice.