Leasing Programs

Leasing Programs

Earth Auto Leasing offers more lease options to its customers than any leasing company in the country! Whether it's a car or SUV for the family or a fleet of trucks for your company, Earth delivers the most competitive programs available today so you can feel good about your lease tomorrow!

 

Closed-End Leasing

Closed-end leasing is typically provided to individuals leasing a vehicle. This is the type of lease generally provided by a bank, leasing company or automobile/truck dealership.

Advantages:

• Operating lease
• Off balance sheet financing
• At lease term walk away from lease
• Lower monthly payments
• Lower interest rates
• Residual guaranteed by bank

 Disadvantages:

• Requires a specific term
• Requires a specific mileage allowance
• Excess mileage penalties
• Excess wear and tear penalties
• No participation in used vehicle sale gains
• No control over the sale of the used vehicle

Open-End Leasing

Open-end leasing is primarily used by companies who have fleets ranging from 1-1,000 vehicles. The flexibility provided with this type of lease makes it easier to manage a fleet of vehicles. The lessee has the ability to customize an open-end lease.

Advantages:

• Operating lease
• Off balance sheet financing
• No cash outlay
• 12 month minimum term
• Customized leases
• Ability to manage cash flow easier
• Variable depreciation rates
• Easier to replace vehicles
• Lease to own vehicles
• Share in used vehicle sale gains
• Sell used vehicles to drivers/employees
• No mileage restrictions
• No early termination penalties
• No excess wear and tear penalties

Disadvantages:

• Absorbed loss on used vehicle sales
• Higher interest rates than closed-end
• Higher payments than closed-end