Every fee, in the order you meet it
A commercial lease has seven or eight money events in it. Most contracts list them alphabetically in a schedule at the back. Here they are in the order they actually happen to you.
The fee timeline
Worked against our sample Half ton cargo van, 148 inch wheelbase: $583.99 a month, 36 months,15,000 miles a year.
- At signingMonth 0
Acquisition fee
Charged once per vehicle by the lessor to open the contract. It can be paid up front or capitalised into the monthly payment, which adds about $24 a month on a 36 month term.
$795 - At signingMonth 0
Documentary and title fee
Texas title, registration and documentary preparation for a commercial plate. Charged per vehicle, not per order.
$150 - At signingMonth 0
First monthly payment
Due with the order. Fleetwise does not require a security deposit on approved commercial credit, which is where most of the difference in due at signing comes from.
Varies - During the termMonth 1 to term end
Monthly payment plus Texas motor vehicle rental tax
Payments on this site are quoted before tax. Texas applies motor vehicle rental tax to lease payments; your account manager sheets the taxed figure before you sign.
Varies - During the termMonth 1 to term end
Telematics subscription, optional
Per vehicle per month for GPS, engine fault codes and driver scoring. Billed on the same invoice as the lease, cancellable with 30 days notice.
$22 - 90 days outTerm minus 3
Pre-inspection, no charge
A Fleetwise inspector grades every unit against the return standards at your yard. You get a written estimate of chargeable wear with 90 days left to repair items yourself at your own rates.
Varies - At turn inTerm end
Disposition fee
Charged once per vehicle when you return it and do not lease another unit from us. Waived on renewal, which is the single largest saving in a rolling fleet cycle.
$495 - At turn inTerm end
Excess mileage
Charged per mile over the contracted band, at the class rate of 16 to 24 cents. Under-mileage is not refunded, which is why buying the right band at signing matters more than most fleets expect.
Varies
Sample due at signing on the reference unit: $795 acquisition + $150 documentary and title + $583.99 first payment = $1,528.99. No security deposit. All figures are samples for a demonstration site.
The two halves of a payment
Depreciation and rent charge. Nothing else. If a lessor shows you both lines you can check the quote yourself, and if they will not show the money factor you cannot check the rent charge at all.
Drag to see what a lessor's factor really costs. Reference unit: Half ton cargo van, 148 inch wheelbase, 36 months,54% residual.
From enquiry to keys
- 1
Routes and loads, not a wish list
We ask what the vehicles carry, where they go and how far. That decides the class, the band and the term, in that order.
- 2
A sheeted quote inside one business day
Payment, residual percentage, residual value, money factor, APR equivalent, due at signing and the excess mile rate. On one page.
- 3
Soft credit search, only after you approve
Nothing touches your file until you say the sheet is right. Established businesses usually avoid a personal guarantee.
- 4
Build slot, upfit and delivery
Upfitting happens at the yard before release: one to five days for most items, twelve for a service body.
The last 90 days
The end of a lease is where the surprises live, so we move the inspection forward by three months.
- Term minus 90 daysPre-inspection at your yardAn inspector grades every unit against the standards above and leaves a written estimate the same day. No charge, no obligation to use our repairers.
- Term minus 75 daysYou choose what to repairAnything on the estimate can be repaired at your own rates. Most fleets clear tyres and glass themselves and leave the panel work with us.
- Term minus 30 daysRenewal or return, decidedRenew into a new unit and the $495 disposition fee is waived. Return outright and the fee applies once per vehicle.
- Term endCollection and final gradeWe collect from your yard. The final grade is reconciled against the pre-inspection estimate and any item you repaired is signed off on collection.
Ask for the sheet
Every quote we send carries the residual percentage and the money factor. If you are comparing us with someone else, ask them for the same two numbers and compare properly.