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A Terminal Rental Agreement Clause Lease, otherwise known as a TRAC lease, is essentially an affordable way for business owners to lease vehicles for the operation of their businesses without paying through the nose for financing. The name says it all, it is a lease that contains a clause that sets an agreed upon purchase price for each vehicle. At the end of the lease, you have the option to purchase it for that price, which is basically a percentage of its original value. Sounds pretty good, doesn’t? It is good and there are in fact, even more advantages to this lease agreement that many may overlook.
No Down Payment Required
For businesses strapped for operating capital, a TRAC lease can be a godsend when it comes to setting up their initial fleet of needed vehicles. Unlike...