Terminal Rental Adjustment Clause (TRAC) leases and Split TRAC leases typically offer lower monthly payments than purchasing but unlike an FMV lease, residual values are predetermined.
If the customer decides not to purchase the vehicle, Navistar Financial can sell the vehicle. The customer will pay selling expenses. The customer will receive any surplus greater than the residual value.
- For a TRAC lease, if the value at lease-end is less than the residual, the customer must pay the full difference.
- For a Split TRAC lease, if the value at lease-end is less than the residual, the customer will pay only up to the specified, maximum liability
For either TRAC lease, the customer can refinance the residual at prevailing used truck finance rates or re-lease the vehicle for a reasonable term, subject to credit approval.
TRAC LEASE AND SPLIT TRAC BENEFITS
- Lower payments
- Predetermined residuals
- Options to purchase, refinance the residual, or re-lease the vehicle*
* At prevailing used truck finance rates. Subject to credit approval.