GM Financial’s Municipal Lease℠ is the right choice for financing the vehicles you need for your municipality. 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.
Advantages of Municipal Lease℠
- Low, tax-exempt rates
- Easy and convenient documentation
- No processing fees
- 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 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
Learn more about Municipal Leasing today, or find a local GM dealer near you. Additional GM Financial business vehicle products coming soon!