When a business owner needed a commercial-use vehicle with custom features to enable service delivery, only Travelers was there to help make it happen.
A commercial maintenance company needed to add a bigger vehicle to its fleet in order to accommodate a large piece of equipment that was purchased for a new cleaning contract. The company wanted to lease the vehicle for tax benefits, however, there were a few challenges that made it difficult for the company to acquire a truck from other finance companies.
For one, the vehicle would accumulate a lot of kilometers during its use and it was also necessary to modify the truck to accommodate service delivery which wasn’t an option with many of the finance companies the company spoke with, due to the concern that it may not be in great shape to return at lease-end.
After speaking with the company and assessing its needs, we offered our commercial lease option, which has no kilometer or wear and tear restrictions, and has a modest residual at lease-end that would allow the company to buy, sell, or refinance. Whereas traditional auto finance companies tend to focus on the vehicle, at Travelers, our focus is on helping customers to achieve their goals.