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Midway Leasing offers a variety of programs tailored to meet whatever needs you might have. We can tailor a closed-end or open-end lease solution to fit your budgetary and personal needs.
• Midway purchases thousands of vehicles a year leveraging substantial bargaining power
• Personalized programs to meet the needs of your business
• No down payment (available with most lease programs)
• Eliminates up-front sales tax cost
• Off balance sheet financing for leased assets
• Eliminates the need for additional financing
• Frees up credit lines for other business needs
• Lease payments can be expensed monthly
(For all tax benefits and claims please ask your tax advisor)
A closed end lease is a lease agreement that puts no obligation on the lessee (the company or person making lease payments) to purchase the leased asset at the end of the agreement. Also called a “true lease”, “walkaway lease” or “net lease”.
Since the lessee has no obligation to purchase the leased asset upon lease expiration, that person or company does not have to worry about whether the asset will depreciate more than expected throughout the course of the lease. These leases will include a mileage limitation to allow the leasing company to price more accurately.
With an open end lease, the lessee assumes the risk for the residual value at the lease end term. This option generally provides for lower monthly payments, although a weak resale market could create a higher risk of owing money at lease end.
At the end of the lease term, the lessee pays the difference between the vehicle sale price and the depreciated book value. While there are no excess mileage or abnormal wear and tear charges, these costs will be reflected in a lower residual value.
Midway Fleet Leasing specializes in leasing to the studio industry. From commercial trucks for production to personal vehicles for staff and executives, we understand the industry and its needs. We are currently doing business with all of the major studios as well as many other related entities.
We are happy to offer leasing options to foreigners visiting the U.S. for employment. Our program offers a solution to the often difficult process of finding transportation without a U.S. credit score.
Lease terms as short as 12 months are available as an option for lessee who like to change vehicles often or for special circumstances.
Midway Fleet Leasing offers lease programs for government agencies. Leasing can provide cash flow advantages that can help with budgetary constraints. In addition we can offer higher mile leases that can match up to municipal usage requirements.
Midway Fleet Leasing and Midway Car leasing offer leasing on pre-owned vehicles.
In many cases, used car leasing can lead to lower payments than an equivalent new vehicle. Pre-owned leases also can offer an alternative to used car financing.