The Car and Truck Fleet and Leasing Management Magazine

Lease-Own Arrangement Saves Money for ACCO Fleet

March 15, 2002

ACCO Air Conditioning in Glendale has a fleet of about 450 vehicles that is 100 percent leased from Sierra Leasing in Glendale. But this lease is a little bit different. The fleet, which is made up mostly of medium-duty trucks and vans, is on a four-year lease through Sierra. When the lease is up, ACCO automatically owns the vehicles. Then ACCO keeps the vehicles in service for about two more years. "If we're halfway through the lease and I need to get rid of a vehicle for any reason, I can send it back and walk away from the lease," said Patrick Grove, fleet/security manager for ACCO. "We pay no money down, just the first month's payment, plus license fees. After the vehicles are paid for, the money we save on payments is used for any major repairs, if necessary." Grove said he has a list of business people such as plumbers and gardeners who buy ACCO vehicles after they go out of service. "We usually get $1,000 to $2,000 above wholesale Blue Book," Grove said.
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