Municipal Lease-Purchase Plan
Serving municipalities that serve us all.
This program helps eligible municipalities acquire financing for ambulances, police cruisers and other essential-use vehicles on a tax-exempt basis.
Key Features
Product
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Municipal vehicle lease for cars and trucks that are used for essential government work
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Municipality ownership of the vehicle at maturity so there are no mileage or wear and tear limitations
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Costs of vehicle maintenance and insurance are the responsibility of the municipality
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$1 Residual
Eligibility
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Municipalities must be tax-exempt under Section 103 of the IRS Code – although tax-exempt status alone does not automatically mean an entity is eligible for a municipal lease-purchase with Ally
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Municipalities should consult with their legal or tax advisors regarding tax-exempt status and qualification for a municipal lease-purchase plan with Ally
Eligible vehicles:
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New and used (current series used through 1 year old)
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Passenger, light- and medium-duty trucks
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Certain upfitted vehicles
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Emergency vehicles
Additional details
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Flexible term options available to meet the needs of your municipality
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Vehicle title is in the municipality’s name; Ally holds the lien
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$0 security deposit
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Physical damage and liability insurance requirements may be waived, upon approval, if municipality is self-insured
Benefits
For your customers
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Provides flexible financing and payment schedules, including monthly, quarterly, semi-annual and annual
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Allows vehicle acquisition when needed
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Offers clear documentation with clauses that municipalities often require
For your dealership
Attracts municipalities who often have multi-department fleets – potentially bringing a large volume of business to your dealership.