Fleet Leasing Services | Capital Lease
A lease option designed to fit your company needs
Glesby Marks works with our customers to determine what type of lease best suits their needs. Capital leasing arrangements are designed for customers who want to account for their vehicles as assets on their balance sheet rather than treat the vehicle as an operating expense and is ideal for companies that have traditionally purchased their vehicles. Capital leases provide a strong solution to companies who wish to keep their vehicles for over 5 years and are considering transferring the ownership of the vehicle at the end of the vehicles term.
Leasing arrangements must meet at least one of these conditions to be considered a capital lease according to FASB rules:
- If the total lease payments add up to more than 90% of the actual value of the vehicle
- If you can purchase the vehicle at the end of the lease term at a pre-arranged discount price
- If the length of the lease term constitutes three-quarters or more of the expected useful life of the vehicle
- If the vehicle automatically becomes the property of your company at the end of the lease term