Terminal Rental Adjustment Clause (TRAC) Lease
The Terminal Rent Adjustment Clause or TRAC Lease is a special lease purchase option offered to qualified customers. This option provides a lower monthly payment to the customer when compared to a standard loan and a set residual value at the conclusion of the lease.
TRAC leases also offer three options for you at the end of your lease – the residual amount may be re-financed, paid off, or the truck can be returned and sold for fair market value. If the truck sells for less, you will owe the difference.
How the TRAC Lease Compares
- Lower monthly payment compared to loans
- Pre-determined residual price
- Lessee responsible for residual
- No off-balance sheet financing 1
- No return conditions
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