- Is this a "walk-away" lease?
No, this is not a walk-away lease. It is important to remember you will be signing documents to enter into a lease purchase program with Highway Sales, Inc. However, we know sometimes unexpected events happen which prevent you from continuing with your lease. When this occurs we will work with you to find a resolution that works. We inspect the truck and you will be responsible for the repairs and clean up expense which allows us to prepare the truck for the next lessee. Additional payments may be owed depending on the circumstances.
- Is a downpayment required, and when do payments start?
No, there is no money down required. Your monthly payment is broken down to a daily lease payment. Your daily lease payment starts the day after you sign your lease.
The length of our leases can range from 18 months to six years depending on the age and mileage on a particular truck. Brand new trucks start out with a six year lease term.
- Is there a balloon payment?
Yes, all of our leases have balloon payments.
- Do I own the truck during the lease?
No, this is a lease purchase program that gives you the option to purchase the truck at the end of the lease term for the amount of the balloon payment. Ownership and title remain in the name of Highway Sales during the entire lease term. This is not a rent-to-own program that grants ownership in the truck before the end of the lease.
- How much are lease payments?
Lease payments and length of term vary based on the make, age, and mileage on the truck. Lease payments are divided into two parts: a base rental payment and a maintenance payment. The maintenance portion of the payment is a mileage or daily rate that is used to help pay for the maintenance and repairs needed on the truck. Both payments together make up the total monthly lease payment.