Third-party logistics and truck-leasing conglomerate Ryder System has formed a joint lease finance program with Fleet Capital Leasing, part of FleetBoston Financial.
The program is designed to provide financing for equipment combined with programmed maintenance for Ryder's customers, said Ryder interim CFO Tracy Leinbach.
"This partnership with Fleet allows Ryder's customers and prospects to take advantage of low interest rates, current tax incentives, and a broad range of leasing structures to meet their financial management needs," Leinbach said.
The program also allows Ryder to expand its current lease offerings to include customized solutions addressing specific financial and equipment requirements to help attract and retain customers, she added.
Under the program, Fleet will provide competitive pricing and flexible leasing terms for Miami-based Ryder's existing customers and prospects. This offering will be combined with Ryder's Programmed Maintenance services to ensure the longevity and quality of the fleet, and to preserve superior residual values.