Davey Coach offers many traditional leasing and financing solutions for your new or used vehicle. Whether you are looking for an operating lease, a lease-to-own option, or traditional loan financing, we can set you up with information regarding possible leasing/financing structures and payments along with your bus pricing to help with your purchasing decision.
Ask your Davey Coach sales representative about our traditional bus leasing and financing information, or click below for some general information about various lease and finance structures that we offer:
Operating or Closed End Lease
An operating lease is a lease agreement in which the lessor owns the equipment and leases it to the lessee for a term, in most traditional applications, generally between 36 and 84 months. An operating lease may provide the lessee with off-balance sheet financing if the lease meets certain accounting criteria. At the end of the initial term, the lessee may return the equipment to the lessor or re-lease the equipment for another specified term.
Traditional Loan Financing
Traditional loan financing is a structure by which an equipment purchase is financed on a fixed rate basis. The lessee retains the tax ownership of the equipment and related depreciation and is the owner of the equipment once the account is paid in full.
TRAC Lease or Open End Lease
This type of lease contains a Terminal Rental Adjustment Clause (TRAC) that states that at the end of the lease term, the equipment will be sold, either to the lessee or to a third party, for its Fair Market Value.
Pursuant to the Terminal Rental Adjustment Clause, if the NET proceeds received by the lessor, upon sale of the equipment, were in excess of the Terminal Rental Adjustment Clause amount (also referred to as the residual) established in the lease, such excess proceeds would be paid to the lessee. Conversely, if the vehicle is sold for less than the established TRAC amount, the lessee is required to reimburse the lessor for the short fall.
This lease structure is common for business owners who desire the option to purchase the vehicle for a pre-determined price at the end of the lease.
Our affiliate company, Cornerstone Bus Leasing & Rentals, offers bus rentals and bus leasing solutions for a multitude of purposes. Here are a few reasons why you may be looking for a bus for rent from Cornerstone:
Cornerstone Bus Leasing offers creative short-term leasing solutions that compliment your unique application in a way that traditional financing structures may not.
If you have a recurring annual need for a leased vehicle, Cornerstone Bus Leasing & Rentals has the right creative seasonal lease structure for you! With a longer, multi-annual commitment, typically 3 years, and a recurring monthly lease term, Cornerstone can reduce and lock in your rate, take the headache out of signing new short-term leases every year, and assure you a reliable, clean, and mechanically sound vehicle each and every year of your seasonal lease term.
The Bus You Rely On is In the Shop
Every vehicle has down time, and that’s where Cornerstone buses for rent can help you to bridge the gap during repairs. Cornerstone can provide a short-term replacement vehicle, with virtually any passenger capacity up to 35-passengers (including driver) starting from no-CDL-required vehicles. Cornerstone works directly with Davey Coach’s service department to arrange temporary rental replacement buses, ready to roll, when you or your driver drop off your vehicle for service.
Your New Bus is On Order
If you are waiting for your new bus to be completed, but have an immediate need, Cornerstone buses for lease are your solution. Cornerstone can produce a close match to your expected vehicle, reconfigure luggage, seating, and a variety of other options to match. Even finishing touches like graphics can be added to make sure that your vehicle matches your fleet or application while you wait for your bus purchase to arrive. If you have purchased a vehicle from Davey Coach, and are waiting for your dream bus to arrive, ask your sales rep how Cornerstone can bridge the gap until your vehicle is completed.
Short Trips and Vacations
Cornerstone vehicles offer a variety of configurations to meet the needs of your upcoming trip. With vehicles that do not require a special license to operate, along with larger CDL-required vehicles, and options like customizable rear luggage areas, wheelchair lifts, trailer receivers and wiring, and much, much more, we’re sure to have the perfect vehicle in stock and ready to go. All of the vehicles in the Cornerstone Bus rental fleet offer an upgrade in comfort and safety over the typical passenger van rental or luxury van rental, and our no-CDL-required units can offer up to 15 passengers with an additional rear luggage compartment.
Take your next trip in style and comfort with a Cornerstone rental!