Financing & Leasing

Offering terms ranging from 24-72 months, we will work with you to best accommodate your needs.

For over 30 years, Specialty Hearse has provided traditional simple interest financing loans as well as open ended (trac) and close ended leases for our customers. Offering terms ranging from 24-72 months, we will work with you to best accommodate your needs. By using Specialty Hearse and our financial connections, our customers are provided with a one-stop-shop that makes it easy to get your new hearse fast and without hassle, with most of our applicants being approved in less than 24 hours!

 Download our financing application to get pre-approved right now!

Why should you lease your next hearse or funeral limo?

  • Drive a new hearse for a lower cost: Leasing provides you with the opportunity to use new vehicles while only being responsible for a low monthly payment. Having these fixed low payments throughout the term of the lease helps you to stay on budget while driving new and reliable hearses and funeral limos.
  • Warranty benefits: While you lease your vehicle, you will be covered by the given warranty should any issues arise during your lease period.
  • Significant tax and accounting advantage: Leasing provides many tax breaks and accounting advantages, depending on what lease type you choose to go with. Consultant with Specialty Hearse or your own financial advisor to see which option is best for you and what benefits you will receive!
  • Keep your current capital and credit lines accessible: Don’t break the bank trying to purchase a brand new hearse by forking over the entire cost for the vehicle upfront. By choosing a lease you will keep your existing capital and lines of credit available to use while still acquiring a new vehicle at a low monthly cost.

Lease Terms and Explanations

What kind of lease do you need? Review the different lease options below to see which type might be best for your organization.

Straight Lease

Also called a “walkaway lease” or “traditional lease”, a straight lease is typically a 60 month term (but can sometimes be more or less). After the set term, the customer returns the vehicle back to the dealer in good condition with no further responsibility, as long as it is returned within the specified mileage and conditions set forth in the original lease agreement.

In this leasing scenario, the customer is only paying for a “portion” of the vehicle’s worth. Since the vehicle still has value left, it can be sold again. Therefore, customers enjoys lower payments during the term because they are not paying for 100% of the vehicle worth. Along with this, customers can write-off 100% of the lease payment as a business expense.

This lease option works best for customers who do not want to keep the vehicle for an extended amount of time and are more interested in having the latest body styles available.


Lease-Purchase

Also called the “dollar buyout” lease, this lease results with the customer owning the vehicle at the end of the lease term (typically 60 months but this can be more or less). This leasing option is comparable to the same process as financing a vehicle through your local bank. The customer is responsible for the entire value of the car over the lease term, so the payments are higher than they are with a straight lease, but the customer will own the vehicle in the end.

These lease payments cannot be counted as an expense since the vehicle will be marked as an asset; however, because it is considered an asset on the company’s books, the customer is able to depreciate the vehicle.

Ideally, this works best for an organization who is looking to keep the vehicle for many years to come.


Trac Lease

Typically a 60 month term, the trac lease is another option for a customer who wants to own the vehicle by the end of the lease; however, a pre-determined residual amount is owed on the vehicle at the end of the term.

The major point to fully understand in this type of lease is that there will be a lump sum owed at the end of the lease before the vehicle is fully owned by the customer. The customer is able to dictate the monthly payment amount; however, the lower the monthly payment, the higher the end residual payment will be. Organizations sometimes get into trouble with this type of lease option, so be extremely thorough in reviewing your paperwork before signing a too-good-to-be-true lease payment.

This lease type is helpful when customers are looking for a lower monthly than a straight lease but also want to own the vehicle at the end of the term. As long as the customer is aware of the residual payment due at the end of the term, this can work out to their advantage.


Download our financing application to get pre-approved right now!

Note: The information on this page is solely intended as a general guideline to the different types of leases and loans we deal with on a day-today basis. We do not claim that this information to be 100% infallible or consistently updated to reflect changing market trends. Please consult your accountant or another financial professional for a more in-depth analysis of your investment options.

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