We offer extremely competitive, responsive and flexible vehicle fleet leasing programs to fit your operations. Our goal is to align our leasing solutions to your unique needs, maximizing your fleet’s potential.
Finance Your Fleet with Flexibility and Ease Through Our Vehicle Leasing Program
Wheels leverages our financial strength to provide funding solutions that are extremely competitive among fleet financiers. We utilize various funding sources for both short-term and long-term funding needs. This provides a unique funding approach that offers rate structures that are transparent and reflective of market rates — paid by highly rated corporate borrowers for multi-year obligations.
Our floating rate methodology is self adjusting in nature and closely reflects the market for corporate borrowing spreads over time, not just one point in time. It has proven to accurately reflect market conditions through multiple credit cycles.
We also offer a fixed rate option based on corporate bond rates, which similarly leverages our strong borrowing capabilities and is easily verifiable using public sources.
Wheels works with you to perform detailed analyses of the implications of an open versus closed-end lease. You’ll come away with confidence that you determined the right approach for — both your fleet and its individual segments.
The Wheels Fleet Leasing Difference
Wheels offers both open-end (TRAC) leasing, closed-end vehicle leasing and ownership options to ensure you get the financing package that works best for your fleet.
Our financial consultants discuss various packages and terms to help you devise the most advantageous leasing approach for your business.
A range of financial reports and dashboards are available for you to view, export and share whenever necessary.
We leverage experts from our finance and IT teams to develop custom EDI billing, lease accounting and inventory files that seamlessly integrate into your enterprise resource platforms.
Fund Your Tools of the Trade with Flexible Open-End Leases
Around 97% of fleet leases in North America are open-ended in nature. This lease type offers no maximum term, no mileage overages and no penalties for excess wear and tear. Additionally, it’s the tax favorable option, as compared to ownership. The majority of states collect sales tax on the monthly lease payment over the term of the lease, as opposed to the acquisition cost of the vehicle at the time of registration. This means you pay tax on what you use, not the full cost of the vehicle in these states.
One hallmark trait of open-end leasing is that the payment amount decreases each month to correspond with the declining book value of the vehicle.
Outsource the Risk of Residual Value and Gain Predictability Over Monthly Vehicle Costs
Closed-end leasing is similar to retail leasing. You lease the vehicle for a fixed monthly payment with a pre-determined lease term and mileage. If a lessee keeps the vehicle beyond the set month/mile term or has excess wear and tear at turn-in, additional fees or penalties apply.
In a closed-end scenario, the lessee does not take on the residual value risk. Instead, the lessor takes on this risk and factors the estimated residual value into the computation of the monthly payments.
Closed-end leasing is highly prevalent in markets outside of North America — namely EMEA, APAC and LATAM regions.
Our Standard Leasing Package Includes Award-Winning Tech Tools and Strategic Services
With Wheels leasing, you’re granted access to a variety of fleet management tools, including:
- Strategic, day-to-day, technical and integration support resources; roadmap-based performance management models with ongoing performance reviews
- Web-based selector development and ordering tools, with expert counsel regarding vehicle selection
- Online access to FleetView™ and DriverView™, including reporting and transactional tools and dashboards, with easy exporting of data and mobile apps
- Customized reporting resources, including custom queries and report generation from Wheels’ Client Analytics team
- EcoWheels sustainability consultation, with fleet environmental performance metrics to help you implement sustainability goals into your program